Crypto Weekly Issue 40

CONTENTS

cryptoweeklymag.com$2 september 2022 | Volume 40

Distrust of Crypto Isn't Going Away According to U.S. Bank Watchdog 7

Crypto Developer Enters Wrong Command, Destroys Entire Company 8

Binance Will Temporarily Halt ETH and wETH Deposits and Withdrawals During Merge 9

EU fine of $402 million assessed against Meta Over Instagram's privacy settings for children 10

Crypto Investors Likely to Give Up in a Possible Mass Capitulation 11

Crypto CEO Arrested for Stealing User Funds, Faces 40,000 Years in Prison

Portugal's 0% Crypto Tax Calls to The Famous Bitcoin Family 14

One of the Biggest NFT Marketplaces Shuts Down Sales 16

Introducing the Royal Mint's NFT collection 18

Crypto Engineers and Investors Sue U.S. Treasury Over Tornado Cash Sanctions 20

Fed's Answer to Crypto 'FedNow' Instant Payments Announces Services by July 2023 22

How to Limit Risk with Proper Portfolio Management....................................................................................................................................................................................24

Will Crypto Bankrupt El Salvador? 28

State Securities Regulators Warn of Real Scams in Virtual Worlds 30

Bitcoin Not Going to Last Says Vitalik Buterin 33

Part 2: Making Money In The Metaverse 36

Millions of Ether Remain Unclaimed in Presale Wallets 39

What Is the Problem with the Metaverse? 41

The Promise of NFTs is Only Beginning to Be Discovered and Understood 43 Despite the Bear Market, Crypto Adoption in Retail Continues to Grow 46

What are the benefits of using a VPN for crypto transactions? 50 The Global Impact of Crypto Innovation 53

Editors

Welcome to Crypto Weekly

Crypto Weekly is the brainchild of the guys at CMC, and I am Rob Stone, Editor, and I hope to bring you an informative read on everything crypto every week of the year. Another week has gone by, and this is our 40th issue of Crypto Weekly.

There is a lot of talk about regulation going on these last few months Crypto developers are trying to build a financial system in which users have more control. But then regulators advocate a government-controlled financial system. There is no one-size-fits-all solution to bank regulatory frameworks. Not all crypto companies should be classified as banks. Not all crypto users need banks to send money. And not all crypto users want to do business with Peoplebanks.want

more financial options because they don’t like the current ones. That’s why crypto was invented. What can we do to strengthen a system of financial control that is controlled by users? Let's start with a few marketbased solutions, such as private market insurance, bankruptcy-remote entities for stablecoin reserves, privacy layers for blockchain payments, and accreditation bodies that regularly audit code.

As usual, a lot of stuff has happened in the last week because the music never stops in the crypto sphere, and the time keeps rolling on. I hope you all enjoy what we have brought together for you this week. Please let us know your thoughts, and if you would like to see something featured, please do get in touch.

Robert

Distrust of Crypto Isn't Going Away According to U.S. Bank Watchdog

Regulatory agencies in the United States have largely isolated the banking system from heavy involvement in the crypto industry, and the Acting Comptroller of the Currency intends to maintain that position.

As acting chief of the banking agency under President Joe engagingaskrequiringestablishedotherInpreviousforthewelcomingwhichcoursecryptoHsuadministration,Biden'sMichaelhasbeencriticalofandreversingwiththeagency,hadbeenthemostcorneroffederalgovernmentdigitalassetsundermanagement.2015,theOCCandbankingregulatorspolicieslenderstopermissionbeforeinany

cryptocurrency activities and to demonstrate that the activity will be completely safe.

At a conference sponsored by the Clearing House and Bank Policy Institute, one of the largest annual banking policy conferences, he reiterated that position. According to Hsu, the collapse of Terra and Luna in May spread contagion across careful"Thisremainedhowever,Federallycompanies.severalandclosing,numerouscryptoresultingcryptocurrencies,inseveralplatformsfailing,exchangesandlargelossesstaffreductionsatpubliclytradedregulatedbanks,havelargelyunaffected.ispartlyduetotheandcautious

approach we adopted and intend to maintain for the foreseeable future."

The Federal Reserve, the OCC, and the Federal Deposit Insurance Corp. are all involved in U.S. government discussions about how to address oversight of stablecoins,

such as Tether's USDT and Circle Internet Financial's USDC. Federal agencies also consider dealing with the tokens as a financial stability concern. They are designed to maintain a steady valuation by being tied to assets such as the dollar.

—Crypto Weekly

Crypto Developer Enters Wrong Command, Destroys Entire Company

It must be a bad day for the staff at the decentralized finance platform OptiFi. Why?

Due to a coding error, the Solana notprogram,ofledthe"We$661kshutplatformblockchain-basedwaspermanentlydown,wipingoutinUSDC.aredeeplysorryforprogramincidentthattotheabruptclosuretheOptiFimainnetandwewereabletorecoverit,"the

company wrote in a blog post. "All users' funds will be refunded, and we will ensure that it does not again happen."

A losserrorfirstandrisks,associatediswithoutfinancialblockchain-basedtransactionanintermediarycalledDeFi.DeFiiswithseveralincludingrugpullsfraud,butthisisthetimeaprogramminghasresultedinatotalofcustomerassets.It's

a massive and expensive oversight that perfectly illustrates the risks of carrying out financial transactions without any intermediary authorities.

One of the dollarswortheverythingaandblockchainthedeveloperscompany'striedtoupdateprogramontheSolanaonAugust29accidentallyusedcommandthatshutdown.USDCoverhalfamillionarenow"not

recoverable at the time of

Anwriting."OptiFi representative stated, "For a company like OptiFi, it's the worst-case scenario. We immediately searched the relevant thread on Solana discord. Also, We asked a core developer from Solana, but the answers we got indicate that we cannot re-deploy our program to the old program ID anymore." —Crypto Weekly

and withdrawals on the impacted networks will resume once the networks are deemed stable after the Merge is completed, according to Binance. As a result of the named network suspensions, ETH trading will not be affected during the Merge.

It is predicted that the long-awaited event will reduce Ethereum's energy consumption by 99.95%, making it more environmentally friendly.

On Sept. 29, Binance plans to introduce a BinanceUSD (BUSD) TrueUSDPaxconvertfeatureauto-conversiontohelpusersUSDCoin(USDC),Dollar(USDP),and(TUSD)balances

into the BUSD stable coin at a 1:1 rate. Users will not be affected when withdrawing funds in USDC, USDP, and TUSD as this is being done "to enhance liquidity and capital efficiency for users."

—Crypto

The Irish Data Protection Commission fined Meta $405 million ($402 million) for violating Europe's General Data Protection Regulation (GDPR) by handling children's privacy settings on Instagram. According to Politico, this is the third (and largest) fine the regulator has imposed against Meta under Europe's GDPR laws.

According to spokespersonafor the DPC, additional details about the decision will be available next week. Children's accounts on the photo-sharing app were fined due to their privacy settings. The DPC had been

them. The DPC engaged fully with us throughout their inquiry, and we are carefully reviewing their final decision."

As Instagram faces intense scrutiny over its handling of child safety issues, Meta could still appeal the fine. After a whistleblower claimed

that Meta ignored its own research indicating that Instagram Kids could negatively impact teens' mental health, the company stopped developing an app. Since then, the app has added more safety features, including changing default settings on teen accounts to private. —Crypto Weekly fine of

Crypto Investors Likely to Give Up in a Possible CapitulationMass

Crypto enthusiasts have long believed that the currency will always bounce back - but what happens if they lose that faith? Due to the continued decline of bitcoin and other encouraging."inhewould"Anytested,"crashevensweepingWithaversion.seriousinvestorscryptocurrencies,aredisplayingsignsofriskriskaversionthemarkets,today'sanemicpost-pricesarebeingsaysCraigErlam.significantbreaknowbedevastating,"says."Riskappetitethenearfutureisnot

In addition, fellow expert Naeem Aslam told the outlet that if bitcoin takes another massive hit, investors may finally begin selling off all manner of currencies and not just Bitcoin in droves, if it narrows its "daily range." Aslam, an analyst at massivebrokerage,AveTradebelievesacapitulation is on its way. "We believe it can happen anytime since bitcoin has traded in a narrow range for so long." Although bitcoin "bulls are holding on very well" and not allowing the currency to "get battered," further declines could spell bad news. As he detailed a

worst-case capitulation scenario, he explained that the next move wouldn't be at $17,000 or $14,000. It could be so intense that the price will easily fall to $10,000 during a sell-off."

This isn't the first time analysts have predicted

a crash of Bitcoin, and it certainly won't be the last if it remains steady despite those warnings. In light of the brutal crypto crash this summer, especially coupled with overall economic turmoil, it's also possible that trouble is on the way. —Crypto Weekly

Crypto CEO Arrested for Stealing User Funds, Faces 40,000 Years in Prison

After being missing for over a year, fugitive cryptocurrency CEO Fatih Ozer has finally been captured in Albania. Turkish authorities are seeking Ozer and other executives and founders of the global crypto exchange Thodex for allegedly defrauding users and forming a criminal pull,"offraud.withlandscapeTheorganization.currentcryptoissaturatedallegationsofOzerisaccusedconductinga"rugwhichreferstoa

crypto project pumping a new token, convincing unassuming investors to invest, and then disappearing with it. The sentence Ozer may receive sets this one apart: a maximum of over 40,000 years in prison.

Paying a Price Thodex lost a sizeable sum of $24 million after it collapsed, according to the indictment. It is estimated that $2.6 billion will be lost due to rug pulls in 2021, according to a report by crypto analysis firm Chainalysis.

Depending on who you believe, the figure may even be higher. Due to crypto's volatile nature and the opaque processes sometimes used in offloading it, it's not surprising the estimates vary so widely. It is still a serious crime to walk away with either amount of stolen money, regardless of its valuation.

The case is so serious that prosecutors are seeking 40,564 years in prison for Ozer and the other defendants. Nobody knows if it will remain that high.

Turkish officials, however, aren't messing around. According to a statement from the Interior Ministry, Ozer's extradition process has already begun.

When crypto was first introduced, it was seen as a way to protect against inflation. Despite an ongoing bout of inflation in Turkey, Thodex was founded in 2017 and quickly grew to 700,000 users. The collapse of Thodex and the Turkish sentiment.maycrackdowngovernment'soncryptohaveendedthat

Portugal's 0% Crypto Tax Calls to The Famous Bitcoin Family

The Bitcoin family, who live solely off of their crypto, is moving to Portugal, where crypto assets are tax-free.

A Dutch family of five gained

purchases and sales or exchanges for fiat currency are not taxable if they are capital gains (type G income) or capital income (type E income). Only taxable if deemed business or professional income (type B).

Thus, in Portugal, taxes will only be due if the investment professional regularly buys and sells cryptocurrency on behalf of third parties. The 43-year-old father revealed that the family

prefers cold storage over hot storage for their crypto assets and has hidden hardware wallets in several countries across the globe, including Europe, Asia, South America, and Australia. Didi said he preferred "living in a decentralized world where I am responsible for protecting my capital," so he kept the crypto stashes in rental apartments, friends' homes, and selfstorage facilities. It was reported last August

that 26% of the Taihuttu family's Bitcoins were held in hot wallets, which Didi describes as "risk capital," which enables day trading and bets, while 74% were stored in hardware wallets. Besides Didi, his siblings are also considering moving to Portugal, with his brother and sister in the process of selling their homes to invest in bitcoin. We will be traveling together as one big bitcoin family, which is really cool.

—Crypto Weekly

One of the Biggest NFT Marketplaces Shuts Down Sales

The CEO of Cent, a prominent downmostmarketplace,NFTadmitssalesarebeingshutforfraud.

In response to reports that nearly all sales of a non-fungible token (NFT) based on the first tweet of former Twitter CEO Jack Dorsey were being used to break the law, Cent Marketplace has paused nearly all sales. According to Cent CEO Cameron Hejazi, the marketplace has had to cease most sales since "most of what is happening is illegal."

Hejazi explained in a community update that "bad actors" were using Cent to mint counterfeit NFTs, usually by selling copies of NFTs they didn't own or creating NFTs without their permission. This is precisely what NFTs were designed to address: assigning rights to people's digital assets.

Despite the lack of an "industry-wide standard for counteracting bad behavior," Cent shut

down almost all NFT sales until the market finds a "strategic solution to the problems we're facing." Despite the shutdown, Cent is still allowing the sale of "Valuables," or NFTs of tweets that have been signed by their original posters, like Dorsey's tweet, sold in March 2021 for $2.9

Accordingmillion.

to Hezaji, "Fraudulent activity associated with the NFT movement has been a challenge for many platforms, including Cent. It's a huge problem that has not yet been talked about much," he said. "There are many NFTs that

circulate online that are counterfeit, even though DeviantArt is collaborating with NFT OpenSeaexchangetocreate an alert system to prevent this from happening. It's symptomatic of a much wider problem," according to the CEO. counterfeiting is a "basic problem for Web3. Using blockchain tech like NFTs, Web3 envisions a new era of the internet, and all we can do is what we must to assure things work out."

In January, popular NFT marketplace OpenSea restricted the use of its free minting feature after admitting that more than

80 percent of the tokens created with it were "plagiarized works, fake collections, and spam."

In addition to being created using copyrighted material, NFTs are still risky investments in what most experts say is an overvalued market. Artists trying to make a living from their art may have trouble making ends meet. Millions of crypto enthusiasts are still left out in the cold due to scams on the NFT marketplace. To make a concerted effort to root out the fraudulent elements plaguing NFTs and the Web3 movement, it's now. —Crypto Weekly

Introducing the Royal Mint's NFT collection

In April, a high-ranking U.K. government official announced that the country would issue its own nonfungible tokens (NFTs). Per Rishi Sunak's vision for the country's future, the Royal Mint is developing NFTs to symbolize the thetoandAsrevealed.likewhatHowever,forward-lookingcountry'sapproach.detailsaboutNFTsareorlookhavenotyetbeenanewprimeministercabinetareexpectedbeselectedonSept.5,degreetowhichthe

U.K. embraces crypto is now an open question. NFTs are digital tokens on blockchains linked to physical assets, such as art. According to industry experts, governmentissued NFTs must provide Utility and community, including event access. Despite announcing that it is developing a range of NFTs, the Royal Mint did not specify whether the tokens would have any other

Thepurposes.priceof a Royal Mint NFT is divided among industry members. "You

might be able to get a week's holiday with the queen for 10 million British pounds sterling," said Neil McFarland, CEO of First Light Games. "Don't underestimate people's willingness to flaunt their

Awealth."million-dollar NFT isn't too far from reality, according to McFarland. In recent years, some NFTs have sold for millions, and some have displayed grand displays of wealth. In December, Pak's "The Merge" artwork sold for $91.8 million, making it

the most expensive NFT ever. "Everydays: the First 5000 Days" by Beeple sold in 2021 for $69.3 million, making it the most expensive artwork ever sold. Nonfungible reports that the average price of an NFT sale has fallen 16.2% to $415 over the past 12

Tomonths.reach most people in the country, a U.K. government NFT couldn't be limited to millionaires. Considering how high food and energy prices have become, even 50 pounds might be too

much for some people.

Non-Fungible's Gauthier Zuppinger, co-founder and NFT data provider, says, "Can governments use NFTs to raise money from Utilitiescitizens?"and community Pedro Herrera, a senior blockchain analyst at DappRadar, said, "Utility is essential for NFTs to thrive. Exclusive membership benefits such as access to real-world events and

governmentAlternatively,collection?"ofownerswillClub."likethroughmerchandiselimited-editionareavailableNFTcollectionsBoredApeYachtHerreraasked,"Howtheyrewardtheirforbeingparttheircommunityandthecould

offer NFTs for specific events, or it could also offer discounts on train rides, Zuppinger said. According to some industry members, issuing collectible NFTs without utilities would be better. "For generations, the Royal Mint has issued collectible coins, and it shouldn't be hard for it to do the same in an NFT format and appeal to a new generation of collectors," says Robby Yung, CEO of blockchain-based game company Animoca Brands.

Yung said collectible NFTs could sterlingtoRoyalCollectibleredeemJubileeeventscommemorateliketheQueen'sorbeusedtophysicalcoins.coinsbytheMintrangefrom2010,165Britishpounds($23-$11,838.62).

The community is another important factor for successfula NFT, but the ZuppingernotDecentralizationutilizeprivatesecurelyaUsersZuppingerthemtoenoughnotpopulationgeneralmayunderstandaboutNFTsengagewithproperly,said.mustcreatedigitalwalletandstoretheirkeystotheservice.isforeveryone,said.

—Crypto Weekly

Crypto Engineers and Investors Sue U.S. Treasury Over Tornado Cash Sanctions

American citizens are suing the U.S. Treasury Department for blacklisting Tornado Cash last month, claiming the department's sanctions watchdog exceeded its Theauthority.suitfiled by the U.S. District Court for the Western District of Texas alleges that the OFAC (Office of Foreign Assets Control) at the Treasury Department lacked the legal standing to designate Tornado Cash, described as a "decentralized, opensource software project that restores some privacy for Ethereum

users," as a sanctioned entity since it isn't an entity, person or

Almeida and Nate Welch, who are employees of Coinbase, Prysmatic Labs co-founder Preston Van Loon, engineer Kevin Vitale at GridPlus, Ethereum proponent and angel investor Alex Fisher, and a former engineer at Amazon Joseph Van Loon. Funds are coming from crypto exchange Coinbase to pursue the effort.

In the lawsuit, each plaintiff claims to have ether (ETH) locked in Tornado Cash that they have used for legal purposes, including donating to Ukraine and protecting their private wallets from tagging their

public online identities but is unable to access it due to OFAC sanctions.

In addition to Treasury, the plaintiffs are suing OFAC Director Andrea Gacki and Treasury Secretary Janet Yellen. According to the plaintiffs, OFAC exceeded its authority because Tornado Cash is not a foreign national or country and therefore violated the Administrative Procedures Additionally,Act.the plaintiffs claim that their First Amendment rights to "engage in important, socially valuable speech" have been violated. As

Preston Van Loon, Almeida and Welch did not receive a notice or any other prior process before their ETH was frozen, they claim their Fifth Amendment rights, which protect against self-incrimination, were Accordingly,violated.the plaintiffs

request that the court declare the defendants' designation null, void, and without force and effect; declare that the defendants' designation is unlawful; vacate the designation; permanently enjoin the defendants' officers, employees, and agents from implementing,enforcing,applying, or taking any action under, or in reliance on, the designation; and to compensate for litigation costs.

A Determination of controversy and discord: OFAC's legal determinations associated

smart wallet addresses have been controversial and aroused a high degree of resentment in the Crypto community since it was announced last month. It is well known that this was the first time software appeared on the SDN List rather than an individual or entity, and it is a stance the plaintiffs

Because the Treasury action affects anyone using Tornado Cash, not just those engaged in money laundering or other criminal activities, the action was criticized within the crypto industry. Generally, the SDN list is used to identify people involved in terrorism, enemy states, or filing.25,toOFACinclusionandindividuals,authorityhaveInsystem.fromsostate-sanctionedotheractivitiesthattheycannotprofittheU.S.financialthepast,defendantsusedtheirdelegationtodesignatecorporations,otherentitiesforontheSDNlist.addedVladimirPutintheSDNlistonFebruary2022,accordingtotheThedefendantsalsodesignatedBlender.io,avirtualcurrency

mixer... Blender.io is controlled centrally, unlike Tornado Cash. In contrast to Tornado Cash, Blender. io users do not retain ownership of a particular crypto asset and instead receive randomly 'mixed' crypto assets."

Paul Coinbase'sGrewal,chief legal officer, told CoinDesk that while the exchange has "the utmost respect for Treasury and OFAC … the forrespondimmediatelyDepartmentTheuscontractsTornadodesignationsrecentoftheCashsmartgaveseriouspause."Treasurydidn'ttoarequestcomment. Weekly

Fed's Answer to Crypto 'FedNow' Instant Payments Announces Services by July 2023

The Federal Reserve is on pace to deliver FedNow, an instant payment service that will settle U.S. payments in seconds.

Federal Reserve Banks have narrowed the launch date of their FedNow Service between May and July 2023, specifically targeting a full production rollout. FedNow Pilot Program began technical testing for its anticipated instant payment service in September, confirming the previously communicated launch window for 2023.

smoothly next spring, she encouraged financial institutions, service providers, and software companies to "adopt it now," even though a few banks and institutions have already tested it. "It is now time for all key stakeholders to devote the resources necessary to support instant payments. Consumers and businesses could benefit from FedNow's instant payments, which could be similar to a digital currency issued by a central bank." Brainard said.

The Fed has made no decision on whether the U.S. should adopt a CBDC despite releasing a study on one. After the FedNow system is released, officials are considering what needs a CBDC would fill.

flow," Fed Vice Chair Lael Brainard said.

In order to ensure the FedNow Service will run

According to Fed Governor Bowman, FedNow might offer similar benefits to a digital dollar issued by the Federal Reserve. At the same time, senior administration officials have also cited FedNow as an alternative to a digital currency. In his view, FedNow eliminates the business case for a stablecoin-based

consumer payment system. In addition to reducing costs and speeding up the settlement process, he stated "FedNow could also slow the growth of stablecoins, addressing policy concerns." "It is becoming increasingly important for consumers and businesses to be able to make instant payments, so financial institutions must be able to offer this service," Ken Montgomery, FedNow Service program executive at the Federal Reserve Bank of Boston, said. "As part of the FedNow implementation process, back-office processes will be arestruggleandbusinesses,capitalavoided,WithInhewithcustomersbeandprovidersdayaccommodatewillaccountingupgraded,proceduresbeevaluatedtoaseven-workweek,liquiditywillbearranged,newtechnologywillimplementedtoallowtointeractFedNowondemand,"said.conclusionlatepaymentfeesorworkingfreedupforsmallAmericanssmallbusinessesthatwithcashflowsaidtobenefitfrom

making funds immediately available. consumersBecausewillnot have to

wait for a check to clear, FedNow could also reduce the demand for payday loans. Businesses might also benefit from better paying suppliers on time, and they might embrace it as a more cost-effective and reliable method for accepting consumer

Additionally,payments.

the FedNow system would allow the government to transmit emergency relief payments to Americans faster, so citizens would not have to wait for their checks as they did during the pandemic. Faster payments also reduce systemic risk. It was feared that the financial system would collapse during the financial crisis because banks would not trust other banks to honor intraday credit agreements.

"As a result of FedNow, households and businesses will be able to send instant payments at any time on any day, resulting in substantial gains for managepaymentstofundsbe"Recipientsandhouseholdsbusinesses.willabletousetheimmediatelymakeotherortotheircash

How to Limit Risk with Proper Portfolio Management

Robert Stone

Apply traditional investing principles to the crypto market to stay invested long term.

To balance risk is the goal.

The principle of portfolio diversification is a fundamental investment principle that helps reduce risk in the

burgeoning, volatile crypto market. Managing risk is essential to protecting your bottom line when building a portfolio. It may not be enough to invest in a single cryptocurrency,

such as market leader Bitcoin (BTC), to gain exposure to the innovation of the crypto industry. You can profit from growth in the overall crypto market by allocating to a variety of digital assets.

Diversification strategies will protect your money and expose you to more crypto assets for longterm investment success. Here are basic strategies you can do to diversify your crypto portfolio.

Buy crypto with different use cases.

Investing in cryptos with different purposes or use cases is one way to diversify your holdings. In addition to serving as a medium of meansacanBitcoin,goodsbecryptocurrencyexchange,canalsousedtopurchaseandservices.forexample,alsobeusedasstoreofvalueoratopreserveand

grow wealth since it has produced outsize returns for investors. The second biggest crypto network, Ethereum, has smartcontract functionality that allows the creation of digital programs. This is an investment in a blockchain network where applications,decentralizedordApps, can be built. Stablecoins, which have a value pegged to an underlying asset such as fiat currency, is

also another option for cryptocurrency investors.

The consistent value of stablecoins, such as Tether (USDT) and USD Coin (USDC), helps temper the crypto market's volatility.

Invest in blockchains.cryptocurrencydifferent

The technology upgradedsecond,millionsAdditionally,EOSservicesareandCloudscalability,focusedaparties.theoffacilitatesEthereumbuiltBysolutionssectordemandplatformsblockchain.cryptocurrenciesbehindisBlockchainareinhighinnearlyeverybecauseofthetheyenable.allowingdAppstobeonitsplatform,theblockchaintheexecutionagreementswithoutinvolvementofthirdCardano(ADA)iscompetingblockchainonsecurity,andefficiency.storage,dApps,smartcontractsamongthewebofferedbytheblockchain(EOS).EOSsupportsoftransactionsperanddAppscanbeandmodified

more easily. Among these examples are just a few of the blockchains at the heart of the crypto industry's evolution.

Invest in a variety of markets.

Currently, Bitcoin has an $810 billion market capitalization, making it the largest cryptocurrency. While Bitcoin occupies the majority of the crypto market share, many other altcoins with varying market caps are worth considering. A cryptocurrency with a higher market cap may have fundamentalsstrongerandbe more stable, while a cryptocurrency with a smaller market cap may have strong growth

Diversifypotential.crypto projects based on their locations. Choosing cryptocurrency projects from around the world allows you to explore more innovations by crypto businesses. Stay away from projects where crypto is banned or restricted and focus on innovation

in unrestricted areas. Portugal is considered a tax haven and a crypto hub by crypto investors. In El Salvador, Bitcoin was adopted as legal tender for the first time, and it plans to create a cryptocurrencyfunded "Bitcoin City." States such as Texas, Wyoming, New York, and Georgia are attempting to attract the crypto industry.

Invest in industries.different

Different industries offer opportunities.cryptocurrencyCrypto has been most widely adopted in the finance industry. People can easily conduct digital globalassetsinvestingcrypto,DeFiparty,withoutblockchainthroughtransactionspeer-to-peernetworksinvolvingathirdsuchasabank.involvessendinglendingcrypto,andincrypto.Virtualaretradedinavirtualmarketplace.

Branch out to different asset classes.

Digital investments are part of different asset classes, giving investors yet another way to diversify. The most common asset class, ofstoreincludesoftheBitcoinencompassingandEther(ETH),nativecryptocurrencytheEthereumnetwork,cryptosthatareaofvalueormediumexchange.Anotherasset

class is utility tokens, which give users the right to use a product on a certain platform. Some examples of utility tokens include Basic Attention Token (BAT), Golem Token (GLM), and Filecoin (FIL). Non-fungible tokens, or NFTs, are yet another class of digital investments. NFTs are a digital representation of ownership. NFTs have penetrated the mainstream via digital art, creating a new outlet for artists to showcase their work to audiences. Beyond art, NFTs can represent unique digital ownership of many things, such as real estate, collectibles, and individual identities.

Diversify by risk level.

Diversifying your crypto portfolio should take into account your risk tolerance. A traditional portfolio can also be allocated according to the same principles. The best way to balance a crypto portfolio is to allocate more to the cryptos that have been around longer, such as Bitcoin and Ether. To reduce portfolio risk, you could add stablecoins. Afterward, you may decide to add a smaller percentage of riskier emerging crypto projects. The allocation of your crypto investments can vary based on your risk tolerance.

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Will Salvador?BankruptCryptoEl

Nayib

Bukele announced at Bitcoin 2021 in Miami that Bitcoin will become an official currency in El Salvador. A lot has happened since then. Bitcoin has been legalized for a year now in the country.

Nayib Bukele followed through on his promise. September 7, 2021 was the first day Bitcoin was legalized in El Salvador. It has been a turbulent time for Bitcoin in the Central Latin American nation since then. In the years since, it has faced problems, including the crypto winter, a global recession, and fierce criticism from influential critics. Bitcoin's legal adoption has left investors asking: Will the Latin nation go bankrupt?

El Salvador's Bitcoin adoption stands the test of time.

It has not been easy for Bitcoin to ascend in El Salvador, but there is still a long way to go. With a year

passing, fewer fireworks have been lit. Early jubilation across the nation was dampened by significant drops in Bitcoin's value, which slowed Evenadoption.though

Bitcoin hasn't come close to replacing El Salvador's primary currency, the U.S. dollar, it also hasn't brought about the financial downfall that some predicted. Those who oppose pumping national funds into an unstable and decentralized currency warned that the country would be thrown back into chaos. Not yet, at least. There is still a lot of recovery to be done in this nation after decades of civil war.

Bitcoin has plummeted in value, and the nation is on the verge of defaulting on its obligations, despite efforts to cushion financial fallout, including bitcoin-backed "volcano bonds" and a tax-free crypto-mining center.

El Salvador must get rid of bitcoin to maintain its economy, according to the IMF. Despite this, the crypto-pro president who put the law into effect refuses to back down. His adoption of Bitcoin and a few other game-changing factors quickly earned him the title of Latin America's first millennial dictator.

El Salvador's primary currency for the past century has been the "colon." The currency's name is pronounced after Spanish explorer Christopher Columbus, signifying the country's colonial background. Its economy's constant fluctuations parallel el Salvador's never-ending battle for policyastoday,Dollarization,US-sponsoredstillwhentheinRight-wingholdEconomicsovereignty.hardshipstakeinthenation.governmentsElSalvadoradoptedU.S.dollarin2001thecountrywasrecoveringfromacivilwar.likebitcoinwasseenbymanyanotherinstanceofchangewithout

consultation. GDP growth remains low despite assurances from the government and ministers that the economy is flourishing. According to President Bukele, "Bitcoin would financially rescue a relatively underdeveloped nation if it was legalized. September 2022, however, will be different. It has been twenty years since El Salvador's economy has seen wouldpercentagedouble-digitgrowth.Ittakemoretime and

data to assess the Bitcoin trial in El Salvador."

"Nobody talks about Bitcoin anymore. It's been forgotten. I don't know if you'd call it a failure, but it hasn't been a success." said Carlos Acevedo, former head of El Salvador's central bank.

once again postponed the sale. To raise $1 billion from investors, the BTC bond was created to issue tokenized bonds. A Bitcoin City will be built, and more BTC will be purchased with the money raised.

"The initial release date of the bond was moved from early 2022 to September because of the current market state and global crises. It is expected that the Bitcoin bond will launch by the end of the year," Bitfinex and Tether chief technology officer Paolo Ardoino said.

spread throughout the country, police forces have struggled to combat it. The government has diverted resources as a result.

In late 2021, a $1 billion Bitcoin bond was unveiled and scheduled to go on sale in early 2022. However, the nation has

According to Ardoino, his company's security concerns delayed the release of the bond. As gang violence has

According to news reports and industry experts, there are several factors blamed for the current crypto market slump and dwindling investor interest. The Bitcoin bond idea, on the other hand, is certain to attract investors regardless of the market's condition, according to AccordingArdoino. to the IMF, El Salvador's public debt could exceed 95% of its GDP by 2026. The country's national debt is $23 billion, and $800 million will need to be paid back to the IMF by 2023. —Crypto Weekly

Due to itsSalvadorconcerns,securityElpostponesBitcoinbond.

Investing in virtual worlds, also known as the metaverse, is probably not recommended by most registered investment advisors. While there are opportunities in this nebulous digital frontier, securities regulators warn that scammers, hackers, and outright thieves

Asabound.consumers explore the metaverse and evaluate the investments they'll find there, issuedAdministratorsAmericanofferings,andnonfungibleincludingtokensvirtualrealestatetheNorthSecuritiesAssociationaninvestoralert

warning them to proceed with caution.

In a statement, Nasaa President Melanie Lubin cautioned that conventional wisdom continues to apply in the metaverse, which states that "every investment involves risk, and no investment can be guaranteed against loss."

In our experience, socalled wary"Investorsanddressedsamemetaverseopportunitiesinvestmentinthearejusttheoldfinancialscamsupinnewclothesofferedtoinvestors.shouldbeofinvestmentsthat

promise unrealistic returns with minimal risk."

According to Nasaa, many futurists see the metaverse as the next major phase of the internet, and top companies are betting big on it. The investor update could be a conversation starter with clients who might not be metaverse residents but whose children may be. Facebook, after all, reorganized under the Meta brand.

"It is inevitable that some will exploit the hype around any innovation or new technology to

profit illegally from others. When considering a metaverse investment pitch, it is imperative to separate fact from fiction." "Nasaa says in its investor Accordingadvisory. to Nasaa's bulletin, the metaverse is largely unregulated, highly distributed, and new - the virtual neighbors your avatar encounters may be across the globe. As state securities officials advise, potential investors should research any potential worst-casetotheopportunityinvestmenttounderstandrisksandbepreparedloseeverythinginthescenario.(Contd...)

They also observed that many toinvestmenttoevenparticipants,preyingsecuritiesanyactors—thoseunscrupulouswithoutregistrationwithanyauthority—areuponmetaversemakingitmoreimportantvetthosepitchingopportunitiesyou.

"The novelty of metaverse investing is that it occurs both in the real world and virtual spaces," Nasaa added. bothandcanassets,thevirtualavatarsinvestors,fromraisingcompanies"Metaversearefundsreal-worldwhileinvestinworldswithinmetaverse.Realhowever,beputatrisktransferredincases."

According to Nasaa, some traditional scams with a metaverse flavor, such as fraudulent stock promotions, Ponzi schemes, and pump-anddump schemes promoting

metaverse investments, as well as frauds that take place exclusively within the virtual world, commonly involve cryptos or virtual assets.

The Flamingo Casino Club, which has alleged Russian ties, was sued in May by five state securities agencies for selling attacknewunsophisticatedmassinternet.inkeepThemaywarnsasviametaversefraudulentinvestmentsanNFToffering.Aswellfinancialscams,Nasaathatvirtualworldsposeasecuritythreat.headlinestendtohackersinterestednewcornersoftheOncetheyseeainfluxofpotentiallyusersinacorner,theywillalsothere.Companies

operating in the space have not all committed the resources to tighten security to protect users' personal and financial Ainformation.participant's role in protecting themselves is also important. Before transferring any money, would-be investors are advised to contact a real-world representative of the entity offering the investment before engaging in investment discussions with avatars or sharing any personal information in the metaverse. Having trouble finding them in the real world is a red flag, as often will happen with scammers.

—Crypto Weekly

Bitcoin Not Going to Last SaysButerinVitalik

A leading light in the crypto world, Vitalik Buterin, the man behind Ethereum (ETH), believes Bitcoin (BTC) cannot compete in the long term. According to an economic journalist and former Bloomberg columnist, Noah Smith, Buterin believes Bitcoin may reach a point where it cannot generate enough fees to maintain Ethereumsecurity. will switch from proof-of-work mining to proof-of-stake mining in the next week or so.

On the other hand, the crypto granddaddy

Bitcoin continues to use a proof-of-work system. It's because of this that Buterin is pessimistic. Besides using a fraction of proof-of-work energy, Buterin argues that proofof-stake will prove more sustainable in the long run. Let's unpack his two biggest concerns.

Insufficient fees make insecure.Bitcoin

Blockchain technology offers increased security, especially for big cryptos like Bitcoin. However, Buterin says we shouldn't assume the Bitcoin

network is always secure. A close connection exists between efficiency and security, according to him. "Every dollar you spend on paying for security, how much can you get for that dollar?" he asked.

To prevent bad actors from MinerslimitedbeHowever,coinsblocksminersProof-of-workworkTheseusesblockchains,manipulatingblockchaindifferentmodels.includeproof-of-andproof-of-stake.rewardswhovalidatebygivingthemnewastheyarecreated.Bitcoinwillonlyabletoproduceanumberofcoins.willeventuallynot

receive new coins, only transaction fees.

It is Buterin's concern that this will not be enough. The security of Bitcoin depends entirely on fees, and Bitcoin is not generating the fee revenue needed to secure a multitrillion-dollar system. "Around $300k of Bitcoin fees are being charged daily and haven't increased in five years," he added.

Bitcoin'scouldProof-of-workcompromisesecurity

Buterin wonders, "What would the future look

like if there were $5 trillion in Bitcoin, but it only took $5 billion to attack it?". With enough money, Buterin believes bad actors could subvert Bitcoin's network without getting too technical. Traditional currencies are very different from cryptocurrencies. With the blockchain, they don't need a third party to maintain them, such as a bank or government. It could, however, leave them vulnerable to a variety of attacks.

According to Buterin, the amount an attacker must pay to attack is what determines how secure you are.

There are medium ongoing costs for proof-of-work miners and medium entry costs, according to Buterin. On the other hand, a proof-of-stake validator has low ongoing costs and high entry costs.

Ethereum is moving to a proof-ofstake system, and he doesn't think Bitcoin will follow suit. A Bitcoin attack would, however, quickly change people's minds.

Investors' implications

There's no doubt that Buterin is a crypto legend worth listening to. Known as Ethereum's driving force, the 28-year-old has spent years immersed in everything blockchainrelated. There's little doubt that he is right about the long-term security risks associated with Bitcoin's proofof-work validation model. There's little doubt that he is right about the long-term security risks associated with Bitcoin's proof-of-work validation model.

Also worth noting is that Ethereum transitions away from the proofof-work model he criticizes this month. Consequently, Buterin

is in a good position to explain its flaws. Buterin must win over Ethereum's community by proving proof-of-stake has its critics. The biggest cryptos have run on proofof-work models up until now, so it isn't as well tested. A more centralized approach also has its There'sdisadvantages.stillalot to play for despite Buterin's concerns about its security. Some long-term investors, such as Jack Dorsey, believe Bitcoin will be the currency of the internet in the future. As a type of digital gold, Ark Invest believes it could gain market share in the international remittance industry, as well as act as a currency in emerging markets.

In summary

By doing your research, check out how the Bitcoin community might handle this issue before it becomes a problem. Take a look at what other crypto experts have to say about proof-of-work versus proof-of-stake. Keep an eye on how Ethereum's move to proof-of-stake evolves and what problems it faces.

Take your time if Buterin's words are making you wonder about your longterm view, and you're considering selling your Bitcoin. It's not a security risk that could undermine the system next week.

The last Bitcoin will be minted around 2140, but fewer and fewer new ones will be created over time. Don't rush any investment decisions. With Buterin's warning in mind, take into account the risks and opportunities associated with your crypto portfolio.

—Crypto Weekly

AccordingZuckerberg,to the Metaverse is like an "embodied internet." You can jump into an entirely digital world or bring the digital world into the physical world. Essentially, it's a "universe" you can experience both through virtual reality (VR) and augmented reality (AR).

Think of the Metaverse as humanity's attempt to merge the virtual and physical worlds. It is like a parallel universe. You enter an entirely virtual world when you put on a pair of VR/AR glasses. Despite

being virtual, it has shops, malls, and everything the real world has.

Last week I went into several booming ways of making money in the Metaverse through buying and selling internet real estate, investing in NFTs, and a little about gaming for pay. Today I will cover a few more up-and-coming ways to make a living from this virtual reality.

Create And Promote Metaverse Events

Virtual concerts aren't new in the Metaverse. Wouldn't

it be great if you could find companies interested in hosting events in the Metaverse and become their go-to events person? Someone has to manage these events, right?

A growing number of people are attending virtual events as they offer unique and realnotexperiencesimmersivethatmaybeavailableintheworld.Peoplefrom all

over the world can attend, regardless of their location. Attendees can also participate anonymously at these events, making them more inclusive.

Types of Events to Promote

Metaverse Events use VR to create engaging, social, and inclusive events that attract sponsors, attendees, and of bottomline importance, a return on Suchinvestment.eventsare often

much more affordable than traditional events and may also be more engaging as they often use immersive cuttingedge technology. There is no doubt that virtual events offer a unique and valuable experience that should be taken into consideration by any business.

Advertising in the Metaverse

Getting advertisers and companies to market their products through you can generate a significant passive income in the Metaverse. Anything with high traffic will attract companies that will want to advertise. The same is true for virtual spaces. We already see these ads on our apps and social networking sites. The companies are flocking to the Metaverse to maintain their virtual presence now.

As in the physical world, virtual malls and stores

pop up everywhere in the Metaverse, making it easy for brands to advertise their products and services. One way to earn money in the Metaverse is to own or buy land in the Metaverse and lease or sell VR ad space. It's one of the easiest ways to do Samsungit.

and Nike are building entire virtual worlds. Facebook meta has teams selling virtual billboards in those worlds. Sixty-seven million Americans will experience them in 2022. VR content is available on many popular platforms. At the beginning

of this year, Facebook alone had 263 million North American users.

As the Metaverse takes off, there will be big money to be made in advertising, and this is only the now,onIt'shappeningwayItevenandtoseeingcustomertoAdvertisersbeginning.willbeablemonitortheentirejourneyfromtheadcampaignbuyingtheproduct,afterthat,theywillseehowtheyuseit.feelslikewe'realongawayfromthatjustyet,butalwaysbesttogetinthegroundfloor.Righttheentryfeesare

cheap compared to what they will be five years down the road.

In my opinion, the phrase "in real life" takes on an entirely new meaning when building relationships in the shadow of the Metaverse. It isn't enough to just have a digital presence; it must also be engaging, meaningful, and immersive. This is exactly what the Metaverse will do for brands soon, and we will all be able to enhance ourselves to be seen as we want to be seen. That ought to make for an interesting future!

Millions of Ether Remain Unclaimed in Presale Wallets

As he attempts to retrieve a hard drive containing 7,500 BTC from a landfill, a Welshman has endured a nine-year battle. According to a long-standing statistic, four million Bitcoin - about 20 percent of the total supply - have been lost forever. Most of it was mined when the network was just beginning, with early adopters tearing their hair out after losing their private keys. The value of over 500 Ethereum presale wallets

is several billion dollars, but they have yet to be recovered. There are other treasure troves worth exploring besides this one.

Back in the summer of 2014, ETH - now the walletsbelieveexchange12Now,buyInworldcryptocurrencysecond-largestinthe-wentonpresale.thosedays,youcould2,000Etherfor1Bitcoin.1BTConlyfetchesETHatthecurrentrate.Expertshundredsofremainunopened

despite a massive 8,893 people participating in this Somepresale.wallets contain tens of thousands of dollars’ worth of ETH. Several owners have more than 10,000 ETH in their accounts, which means they are missing out on a life-changing $20 million.

All of this raises the question: Are these wallets doomed? Are these funds just irretrievable now that Ethereum is moving from a

Proof-of-Work to a Proofof-Stake accessrightMoreover,blockchain?whointheirmindwouldlosetotheircrypto after participating in a presale?

Back then, crypto was shiny and new - and many early investors were still figuring things out. Presale wallets' private keys can be lost for a variety of reasons. A browser issue might have caused the problem, difficulties with foreign language keyboard settings, or poor

security practices. What should owners of these presale wallets do? Tell people about how you missed out on millions of dollars at dinner parties or fight back and reclaim their rightful share of the wealth. Do you give up and dream about what might have been?

Presale RecoveryWallet

There is a way to do it. To begin, go to Etherscan, a blockchain explorer, and check the balance of the address you are trying to retrieve. There may still be crypto left to be claimedin which case, and It's time to take a step back and consider what your wallet password requirements would have been.

The next part is a little more challenging. If you can, try to recall the passwords that you commonly used in the past. By changing letters like an a, and using special characters like & and # instead of letters like a and a, Hashcat can test many variations. Two hundred thousand passwords can be checked in a second using the right GPU card.

You may think this is a long shot - and there is still a chance you will not be able to find the password to your Ether presale wallet. The good news is that you don't have to give

up. Next, it's time to hire professionals with a track record of unlocking codes and reuniting owners with their Forgottencrypto.presale wallets often have months.andmillionsKeychainX200lostthathasparameters,specificandKeychainXdevelopedsoftwaresuccessfullyrecoverscryptocurrency.OverpeoplehaveentrustedwithrecoveringofEther,Bitcoin,Dogecoininthelast12

Proof

An Ethereum enthusiast contacted KeychainX after amassing 1,000 ETH for just $300 during the Ether presale. Currently, this crypto sum is worth $2 million. One problem arose: the customer thought the wallet was corrupt.

The password was clear to him, but he ran into two problems: first, he was half French, meaning he might have problems decrypting foreign characters. Also, the password was sexual, making it necessary for the project's specialists to find phrases that could be tested. Secondly, the password was 99 characters long. His wallet's special characters were translated into Cyrillic by KeychainX. In addition, tracking down the customer and delivering the good news took three days. Aside from recovering long-lost crypto, this project aims to prevent investors from ending up in a similar position. Using geolocation data and biometrics, it stores private keys in a keyless crypto wallet patented in the U.S. and

Japan. Furthermore, it plans to launch an automatic crypto recovery site that will allow people to use their extra GPU power for social recovery.

At the Blockchain Futurist Conference in Canada, Ethereum co-founder Vitalik Buterin explained how Web3 could provide a more effective approach to recovering accounts than Web2. Using this example, users might nominate five recovery contacts, including their father and a friend, as well as two institutions and one employer. An account could then be unlocked by three of these trusted Cryptosources.losses can be devastating, but projects like KeychainX aim to prevent them in the future.

What Is the Problem with the Metaverse?

It's still unclear what the Metaverse is. It describes a digital world outside our own and was coined in the early 1990s in Neal Stephenson's "Snow Crash," - which predicted the Metaverse (and hyperinflation) 30 years ago. Social media and augmented reality have been incorporated into the definition since then, but we are still unclear how these two technologies work with each other.

Metaverse is often viewed as a virtual world like Second Life or Sims Online, to which we can all escape. Despite all the hype justtoThechangingMetaversesdisappointworld"thatgraphicsonly"Metaverse,"surroundingwe'veseenterrible1990sandthefeelingit'sjustanother"virtualattemptthatwilleveryone.areconstantlyandundefined.waywemakeitisupus;atthemoment,itseemslikeanebulous

cloud of potential. It is both exciting and daunting at the same time. I find it exciting and comeswherefirmMetaversemore.butcalledMetaversespossibilities.theresimultaneouslydauntingbecausearesomanyareoftenvirtualworlds,theyaresomuchExperiencingtherequiresafoundation.Thisisaugmentedrealityin.ARcanprovide

concrete reality to explore

and debate, providing a gateway into the Metaverse. This technology combination promises to make the virtual world more realistic than the real one. Consequently, it creates an immersive experience that can be used for gaming, social networking, and even business, thanks to virtual reality (VR) and augmented reality (AR).

a

Metaverse technology has caught the attention

of businesses and governments around the world, who are looking to it for ways to improve productivity and communication. One example is the Chinese government's own Metaverse, "China VR City," a training and education tool. VR and AR are being used to design products, market products, and support customers in the United States. Thus, the "metaverse" already exists and is in technologytothempeopleusedVirtualtoobecauseasGlassThereiPhonedevicesofalreadyMetaversestillphotorealistichigher(VR)ThoughMetaverse.drivingrealityhowever,Therewilltoevolves,Technologyuse.constantlymakingitdifficultpredictwhichplatformsbecomemainstream.islittledoubt,thataugmented(AR)willbetheforcebehindthevirtualrealityhardwareoffersfidelity,reachinglevels,itisARthatwilldrivebroadadoption.We'veseenglimpsesAR'spotentialthroughsuchasApple'sandGoogle'sGlass.isapossibilitythatwasmisunderstoodarecordingdeviceitwasreleasedearly.worldsaremainlyforgaming,andwon'tcareaboutexceptasawayplaygames.Thewillprovidethe

most natural experience to the human senses that will be adopted. As far as AR experiences go, this is by far the most immersive and engaging. A VR user is completely isolated from the outside world, while an AR user can interact simultaneously with the virtual and physical worlds. The Metaverse can only succeed if it can create truly offersaugmentedtosearchingMetaverseARexcelsexperiences,immersivewhichARat.canbecomethewearefor.Incontrastvirtualreality,orVR,realityanimmersive

and completely digital experience. AR can be social and interactive, while VR can be isolating. The potential benefits of AR are already evident. Translating text in real-time using Google Translate, for instance, allows you to communicate with people who do not speak your language. A guide also explains how to make appropriate hand gestures for different phrases in the Ikeaapp.Place

is another example of an app that lets you see 3D images of Ikea furniture in your home before you buy it. Using this app, you will not have to

order furniture online and discover that it doesn't fit your living room, saving you a lot of money.

Although VR may offer a greater sense of reality, interacting with the virtual world in AR will be more natural and intuitive. In this way, AR will drive the broad adoption of the Metaverse through its combination of immersion and interactivity. Using fake worlds to illustrate the Metaverse's success, we limit its enormouslypotentialandmake it seem like a passing fad.

—Crypto Weekly

The Promise of NFTs is Only Beginning to Be Discovered and Understood

Robert Stone

Anon-fungibletoken(NFT)is a digital token that represents a verifiable scarce, and portable piece of digital property on a global ledger. With blockchains becoming global transaction ledgers for both native virtual and physical property, NFTs have virtually limitless potential. Due to programmability,theirthey can evolve and theycryptoandTwitterforaboutthem?tokensaboutWhatfeatures.increasinglyencompassinnovativedopeoplethinknon-fungible(NFT)ifyouaskPerhapssomethingridiculouspricescartoonsofapesandprofilepicturesmurmuringaboutconfusedly.Perhapswillmentionafew

celebrity names and add the word "bubble." In sum, a tale of frivolity, excess, and overexuberance.

I think that's a fair assessment. However, NFTs can and will mean much more than that. Under the surface, they already do. With the increasing use of virtual worlds, this potential multiplies. NFTs will become some of the primary building blocks for

everything in these worlds. Many people question NFT's longevity as a technology and cultural trend as the market value and popularity have fallen. Did the NFT bubble ultimately kill them off as just a speculative asset? When it comes down to it, what utility do NFTs serve?

With becomingblockchainsglobal

transaction ledgers for both natively virtual and physical properties, the possibilities for NFTs are virtually limitless. The potential for this potential multiplies as we spend more and more time in virtual worlds. All things in that world will be built on

WhyNFTs.then do they deserve enthusiasm? In particular, NFTs help solve the problem of verifying ownership, authenticity, and credentials, which allow creators to get paid.

NFTs can be viewed as new mediums for producing art and collectibles. However, artistic or collectible

NFTs today aren't really about utility. We don't measure the importance of Rembrandt or Damien Hirst's artworks by it, Mozart or The Beatles' music, or luxury items like Fabergé eggs or Birkin bags by it. Since the beginning of time, technological innovations have irrevocably changed how works of art are produced and exhibited, from oil paints to electric guitars to photography. NFTs are part of this history. Machine learninggenerated art, art that changes with its environment, communitydriven artistic production, and more attract a vibrant community exploring its expressive possibilities.

It is still the early days for NFT art. The future of NFTs is difficult to predict. Comparing brick-andmortar art with digital art might be helpful. I'll compare the old and new with particular attention to a very important concept in the art world: provenance. Once done, we will talk about NFT royalty payments.

Provenance

Provenance is a record of ownership of a work of art or an antique used as a guide to authenticity or quality. 40%estimateddirectorMetropolitanFormerMuseumThomasHovingthataboutoftheobjectsinthe

museum were fakes or forgeries. Despite many questions surrounding this figure - and even the definition of fakes - it's clear that traditional art markets face many challenges. Many of these problems are related to provenance, the history of the production, and ownership of an artwork. An art piece's provenance helps establish its authenticity and value. If lacking, nasty surprises can arise, such as Steven Spielberg learning his Norman Rockwell painting was stolen before he purchased it or the Getty Museum acquiring a dubious ancient Greek statue for $10 million. We can be sure that the provenance of an NFT

FEATURENFT

will never be in question. The authenticity of an NFT can be universally verified by anyone, anywhere, anytime. In contrast, if you purchase an original copy of Mozart's Requiem, you will have to invest considerable resources to have it authenticated and then verified again as it passes hands to the next owner — most likely by a third party. A blockchain records publiclyidentifiesAimmutablyprovenancewithNFTs.blockchainaddressownershipandisresistant to tampering or forgery.

Royalties

In the art market, artists often get short-changed.

It is not uncommon for artists to die penniless before becoming famous, such as Vincent van Gogh. Although the practice is common elsewhere, they rarely receive royalties from sales of their works in secondary markets in the U.S. For example, the painter setscreatorwayroyaltiesInhugeworkingthe$900.purchased$85,000"Thaw"Rauschenberg'sRobertpaintingwassoldforbyacollectorwhoitfromhimforAngry,heshoutedatcollector,"Ihavebeenmytailoffforyourprofit."thecontextofNFTs,workinsuchathatwhenanartistorofanNFTinitiallyitup,theycanuse

a "smart contract" to push back a portion of the resale proceeds to the creator of the NFT. Smart contracts aren't contracts, but they're used to automate things. It is still unclear whether that contract is binding. There is just code that is executed when another event occurs. In this case, the resale of an NFT on a certain marketplace causes proceeds or a portion of those proceeds to be transferred.

The transparency of blockchain systems allows all participants to make informed decisions, although some buyers may object to this level of control by NFT creators.

Why then do they getcreatorswhichcredentials,andauthenticity,ownership,verifyingproblemsolveNFTsInenthusiasm?deserveparticular,helptheofallowtopaid.

In Conclusion

Do not misunderstand. NFTs are not without their flaws, despite their potential. The excesses they've fueled - scam sales like those in some cryptocurrency markets and new crimes like artist identity theft - shouldn't be excused. Therefore, technical tools like the ones described here and communitybased methods of protecting consumers will be Regardless,necessary.NFTs will continue to evolve in exciting and powerful ways. The fact remains that they - or something like them - will remain a cultural force for the foreseeable future.

Despite the Bear Market, Crypto Adoption in Retail Continues to Grow

Despite the crypto bear market's fifth month, there is always hope. People who don't like to follow the prices (pun intended) can follow the projects themselves, which is an even better idea.

On Sept. 6, ainecosystemDeFiaFoundation.accordingcomplexMergeofmergeEthereumthemainnetwillbethecenterthathope.""Ethereum'sisthemostupgradetodate,"totheEthereumOurhopeforbrighterfutureinthesideoftheblockchaincanbefoundareaswherethereisstillsteadyincreaseinusers.

Blockchain Adoption In

Retail: Despite supply chain disruptions and global economic woes, the pandemic helped accelerate the growth of the blockchain retail market, according to Fortune Business Insights. " Checkout. com reported in April that 45% of consumers between 18 and 35 think

cryptocurrency should be used as currency, while 62% plan to include digital coins, tokens, or NFTs in loyalty programs.

Are mainstream retailers going to accept crypto payments for purchases? It was announced earlier this year that Tesla would no longer accept Bitcoin payments. Bitcoin is still

accepted by retailers such as Home Depot, Whole Foods, Starbucks, and Microsoft. For a firsthand look at the evolving crypto retailer landscape, we interviewed the leaders of payment platforms and Retailvendors.Growth

During The Crypto Winter: Despite the effects of COVID-19

flattening out in 2020 and 2021, blockchain retail is predicted to increase at a compound yearly growth rate (CAGR) of 42.8%. "There is demand, so the solutions must meet the moment appropriately and quickly," said

Asinseecurrent"DespiteMerge.icofollowingcryptocurrencyexpectsrewards."ofthisayear-over-year,Withandusers,approximatelyamongbecomeCryptoHoulgravefromeverfuturewhereitacceptonlinetowardaremainstreamforawarenessmarket'sDespiteandheadCheckout.com'sofcryptostrategyGTM.thecryptodoldrums,anddemandcryptohavereachedmarketsandcreatingmomentumadoption."Asretailersbegintocryptopayments,sparkscuriosityaboutthiswillleadinthe-andiftherewillbeatruetransitionfiattocrypto,"said.incentiveshaveverypopularRewardsBunny's50,000accordingtoCEOFounderJackyGoh.morecryptoadoptionweseemassiveopportunityinspace,saysGoh."80%ouruserschosecryptoRewardsBunnytoseeaspikeininteresttheEthereum87002thebearishcryptomarket,wehugeadvancementsblockchaintechnology.Ethereummergesthis

month, it will be a very exciting month. In addition, Goh noted that innovations are becoming increasingly common in the blockchain industry, particularly with X-to-Earn trends.

Why Ease Of Use Is Key: Virtual Brand Group (VBG), a company that helps brands sell in the metaverse space, said its studies show an increase in crypto usage by consumers. "About 28% of Americans now use crypto." Hochberg said. According to a consumer survey conducted recently by the Virtual Brand Group, this will increase by 24% compounded over the next several years.

Hochberg dismisses the ominous "crypto winter" and believes low-cost, easy-to-use payment options are key to crypto adoption. "Ease-of-use will drive mass adoption even more. Hochberg said thousands of companies are creating crypto wallets, apps, and payment systems that remove any technology confusion for consumers, so soon you'll be using them just like Venmo or retailers.growthprovingretailers,supportsCEOGlissmann,AccordingPayPal.toMauricefounderandofAMZSCALE,whichover800AmazonblockchainistobeanimportantareafortraditionalRecently,Amazon

Scale launched a security token that allows investors to invest in retail brands.

"Our solution allows any brand to put some equity on the table and get some funds. Our crowd investing solution enables brands to connect with perhaps 1,000 core customers who love their brand. In that way, true brand lovers can truly be a part of the whole brand. "I believe that NFTs, as well as the entire blockchain space, will be huge over the next year, especially for those types of services or ideas."

The Last Word: While the market remains chilly, progress continues — even if the market does not reflect that progress. Retail, gamefi, defi, metaverse and paytech still have a bright future based on the amount of investment pouring into the space. It was only during the last bull run that the mainstream discovered this blockchainonce-insularspace vc m. Our project leaders need to show our work with real use cases that serve not

only crypto but also the rest of the world.

The founder of AdLunam, Nadja Bester, recently said, "It's up to you to shape the future. Simply reproducing the success of others is no longer a viable option. As a result of this, you have the opportunity to ask yourself: What are the actual potentials of this technology? What can our project actually accomplish and achieve? I think that this will result in a lot of creativity and innovation. I think that's the silver lining."

It is possible that one of the silver linings will be the ability to buy NFTs using fiat from Amazon sellers. The next big blockchain idea can be something we've never considered before. Or it could be a new revenue stream in the metaverse. When the crypto winter is over, we must be ready with ideas worth believing in. In the end, these projects will lead to a brighter and more constructive future for blockchain.

—Crypto Weekly

Cookie Sale launched in February 2022, and aims to become one of the biggest launchpads for tokens on the BSC. With its sleek design and easy-to-use interface, CookieSale looks to be adaptable and adoptable for developers and a safe environment for investors. CookieSale works side by side with Kodi’s marketing & advertising agency Pitch. This benefits developers and holders of Kodi as well. As a developer, you will be able to use CookieSale as an “A to Z” platform.

From advertising to zhooshing up your “cookie” there will be something that satisfies almost anyone’s tastes. As a Kodi holder, a percentage of the revenue generated through

CookieSale will be bought back into Kodi and then airdropped to holders, holding 10 million or more Kodi tokens.

Backed by powerful auditing companies such as Certik, SpyWolf, Brewlabs, Dessert Finance, Contract Checker, and HashEx developers will be able to choose between three pre-audited contracts or create their own and have it audited separately. Other key features include liquidity locking, anti-bot features, custom airdrops, visual cues to aid in identifying safer investments, and more.

One notable feature that stands out amongst other launchpads is that CookieSale will only charge a flat fee for listing. Developers will be able to launch the right way, without the fear of a large sell from the launchpad taking profit.

Kodi’s mission is to create a one-stop-shop IDO platform and provide investors with an interactive Entertainment Network that will keep users engaged, informed, and entertained while investing in the crypto space.

Clear Vision

Kodi`s vision is to create an ecosystem that will be a driver in promoting a safer economic environment for crypto investors to participate in and for developers to grow their projects.

Kodi is creating an industry-first Entertainment Network that will become THE place for crypto investors to socialize, have fun, win prizes, and learn about everything crypto. Is there anything more about Kodi? How do you, as an investor benefit? Kodi by itself, is an entertainment project. Kodi plays games. post podcasts, do AMAs, have tournaments, live streams, and play plenty of music. At Kodi there are two subsidiaries. "Pitch" being the in-house advertising agency, which is a one-stop shop, all things content creation, both in crypto and fiat. Branding, websites, commercials, you name it Kodi does it. The

Pitch Advertising Agency and CookieSale launchpad. Cookie Sale will work in unison to become the go-to destinations for developers to build their brands and launch their projects With Cookie Sale, you can launch your project from A to Z. Gone are the days of taking your token supply. Kodi simply charges a flat fee, no strings attached.

So how do you benefit as a holder? Well, if you're, a holder of at least ten million KODI you receive BNB, rewards automatically deposited into your wallet. You also can participate in Kodi`s weekly games where you can win, BNB for free. But here's where things get really exciting. Two percent of every transaction goes straight into the Kodi treasury contract. The treasury buys back Kodi tokens, creating an increase in price, and stores them in the treasury. Twenty percent of these tokens are burnt and 80% gets used to top up the staking pools as needed revenue generated through pitch and cookie sale also gets added to the treasury contract. This creates the ever-increasing price floor, whilst also removing tokens from circulation. Go say hi on their telegram community, or check out their website at Kodicoin.com.

What are the benefits of using a for crypto transactions? guide

Robert Stone

Ihope you've been formightCryptocurrencyoftenarekeepaboutlearnSo,makewhatVPNs,ignore.movesecure.learningcryptocurrenciesresearchingandhowtokeepthemThatisasmartthatmostpeopleWhenitcomestoyoumightwondertoextenttheyhelptoyoursmoresecure.youhavebeentryingtoasmuchaspossiblecryptoandhowtothemsecure.Thosesmartmovesthatareignored.securityalsobeaconcernyouifyouarenewto

VPNs. How helpful is it, and what should you do about it?

The Dangers of Making Unprotected Crypto Transactions

You may have heard that transactionscryptocurrencytendto be very secure, and that is true. However, there is still the danger that your connection may and will be intercepted as it travels through the web. When this happens, you might lose your funds if hackers manage to access your crypto or exchange wallet.

Not to mention that crypto transactions are not completely anonymous. If someone manages to connect your wallet and your IP address, you can be identified with ease. Another issue with cryptocurrencies is that some countries do not allow their citizens to use crypto. They block websites or discourage their use canthemtransactionssecureUsingridiculouslythroughhightaxes.aVPNcanhelpyourcryptoandkeepprivate.Asyousee,therearequite

a few dangers if hackers.minecomputer'smalware.withdangeracryptocurrenciesusingwithoutVPN.Youarealsoinofbeinginfectedcrypto-jackingItcanuseyourresourcestocryptocurrenciesfor

A VPN Can Help Trading andtoyournetwork,actors.hackersinformationrequirescryptocurrencieskeepingyoursafefromandmaliciousThevirtualprivateorVPN,encryptsinternetconnectionprotectyourdataidentity.Thisshort

guide is precisely about how that works. Using a VPN does improve your crypto security, but only from a privacy perspective. Bitcoin and other cryptocurrencies are

OncearecordinternetexchangesprivacyTheeverythinganyoneisbutbewhichpseudonymous,meanstheymayhiddenonthesurface,lookatthings,anditimmediatelyclearthatcanseeabsolutelyyouaredoing.onlyexceptioniscoins.Cryptoandotherserviceprovidersalltransactionsondistributedpublicledger.you'vegonethrough

KYC/AML verification on an exchange, you can easily track your financial activities. If you don't want to be known, don't sign up for an exchange where KYC is required. When you do sign up for one of those that don't require KYC, don't use your real name. Combined with a VPN, you have assured yourself a certain degree of privacy.

A good privacy-oriented VPN service can protect your identity from hackers, government agencies, or malicious third parties. This will provide your crypto transactions with extra

security and encryption and prevent interception of your connections. Your data is routed through a secure tunnel to a VPN server, making it inaccessible. This way, you hide your original IP address, anonymizing your internet traffic with encryption, and your data becomes unreadable. You can also connect to servers around the world with a VPN. As a result, this allows you to bypass censorship and geo-restrictions by virtually changing your

Amonglocation.civilized people, privacy is regarded as a fundamental human right. This can be useful in countries cryptocurrencies,wherenews

sites, and forums are blocked. If you're in the crypto space, you should always keep track of such websites so you would know the latest developments and events that might impact the price of digital coins. Bitcoin and crypto security don't have to be a concern - end-to-end encryption is used in all cryptocurrency protocols. HTTPS encryptionend-to-endisalsoused on most exchange websites, ensuring your data cannot be intercepted unless exposed to serious security flaws. VPN services add an extra layer of security to your web interactions.

I want to make it very clear to you. When dealing with cryptocurrencies, you should use a VPN for the following reasons:

By encrypting the data you send over the network, VPNs make it harder to intercept it.

A VPN protects against malware, viruses, and phishing attacks.

By hiding your IP address, a VPN prevents hackers, government officials, and forensic analysis firms from tracking your IP so that you can buy and sell crypto anonymously (if you avoid KYC/AML exchanges).

A privacy-oriented VPN doesn't store your logs and has a kill switch, which helps to maintain your anonymity.

Never use free VPN services: They tend to sell your private information to fund themselves, so do not use them for your crypto activities. A paid VPN is more reliable and secure if you are serious about privacy and security.

Which VPN is best for transactions?crypto

When it comes to finding the right VPN provider, there is a sea of choices out there. Despite this, not every service provider is trustworthy, especially regarding privacy and anonymousYouanonymity.arecompletelywhenusing a service that does not keep any logs of your activity. In this case, your browsing activities will be logged and may be sold or turned over to governments with surveillance programs. You should choose a VPN with a strict no-logs policy and a kill switch if that's your Whenconcern.you have a connection issue with

the VPN service, the kill switch will terminate your internet connection without revealing your IP address. As a result, websites cannot access your real IP address when a VPN connection is lost. Therefore, it is essential for your privacy as well.

Generally, top-rated VPN providers are located in states without mass

surveillance programs. VPNs are not forced to collect and store user data in some countries, such as the British Virgin Islands, Panama, and Switzerland. In contrast, many VPNs claim they are privacyoriented but hand over your private information to surveillance agencies upon request. Free VPN services are no different. Watch out for VPN services

based in the United Kingdom, United States, New Zealand, Australia, and Canada, collectively known as the Five Eyes.

Conclusion

A reliable VPN is a handy privacy and anonymity tool for everyone who deals with cryptocurrencies. It's not a compulsory security measure that will save you from all and any harm (like malware, hackers, and cryptocurrencies.acceptservicedon'twhenLookwheninanorientedyouryouritencryptedarealreadyCryptocurrenciesviruses).aresecureastheycryptographicallybydesign.Still,candefinitelyenhancesecurityandprotectidentity.Aprivacy-VPNbecomesinvaluableinstrumentyoursecuritytoolsetusedcorrectly.forano-logsVPNchoosingone,andforgettosupportproviderswhopaymentsin

The InnovationImpactGlobalofCrypto

Despite the downturn in the crypto market, innovation is taking place around it all over the world. In addition to that in the retail market, which is considered as regular everyday crypto investors. The market has never slowed down even after the recent crash. It’s the wholesale market that has suffered a loss of investors. The retail market is not keeping up with that yet but who`s to say one day it

Belowwon’t?Ilist the biggest markets in the world and inform you about some of the current trends that are occurring in these geographically diverse points of the globe.

Latin America

Although El Salvador's Web3 efforts haven't been successful - a recent article in Rolling Stone speculated that it might be the first country bankrupted by cryptocurrency - there is a lot of interest in the

space throughout the region. According to a report from blockchaindata firm Chainalysis, Brazil, Colombia, and Argentina have the highest adoption rates of crypto. Bitso is the major player in the market, which was created to serve the unbanked in Mexico City and provide easier access to financial instruments such as money transfers. Inflation, like the 70% rate in Argentina, can also be hedged against with crypto investments.

U.S.

Digital art has exploded in the past two years. In earlier incarnations of the tech universe, Kevin Rose founded Digg, one of the main curators in the space. Recently, he debuted Moonbirds, a collection of pixel-art owls, the cheapest of which cost over $20,000. It aims to be the "Wine Spectator" of digital art with its "Proof" podcast. What is the process he uses to decide what to collect? Take a moment to

consider how it makes you feel. "Even in the worst bear market, I wouldn't sell it because I love it," Rose said.

Africa

Crypto is most commonly associated with investing, but Africa is exploring new uses across the continent on a daily basis. With blockchain technology, Mazzuma offers a suite of payment and remittance options. Over the past three years, FlexID has verified more than 1 million bank credentials in Zimbabwe, all using WhatsApp.

Ejara's CEO and cofounder, Nelly ChatueDiop, was raised in Cameroon. Morgan Chittum of Insider reported that Chatue-Diop wanted crypto access to be leveled so that consumers outside the very wealthy could invest in it. By doing so, users could also hedge against fluctuations in state currencies.

Luno Expeditions

CEO Jocelyn Cheng

told April Joyner that enormousforeliminatespaymentstreamlinescryptocurrencytheentireflow."Ittheneedproviderstoholdcashreserves in destination countries if you want instant settlement or very quick settlement.", said the venture capitalist.

Asia

Crypto is popular in Singapore. HashempourParisawas told about BBH Singapore's survey of 1,000 investors in May and June. The study found that nearly two-thirds of investors would remain invested despite the accordingtheCryptocurrenciesdownturn.arefutureofmoney,to69percent of respondents. In Southeast Asia, Finblox operates out of Hong Kong. After graduating from Harvard Business School, Peter Hoang founded a gaming company and a socialnetworking company before launching Finblox. —Crypto Weekly

Online-Only MultiGender Crypto Expert Shares Everything You Need to Know About Ethereum 2.0

By Nicole Grinstead

By the time this magazine reaches newsstands, Ethereum’s transition to Proof-ofStake should be complete. To get an idea of why that matters, CryptoMag reached out to consensus algorithm expert Eric Wall, or maybe we should call him (her?) Erica (more on that later. Until then, we’ll use masculine pronouns to refer to Eric).

Who is Eric Wall?

If you’ve never heard that name before, allow me introduce you. Eric is a staple in the

sarcastic remarks and quick wit. This splinteredconversationinways I didn’t anticipate, and I’m struggling to organize it cohesively. Nevertheless, I’ll do my best.

The Merge

Ethereum’s long-awaited “Merge” is scheduled for around September 15th, 2022, but when I first bought ETH in 2016, I thought it would transition from PoW to PoS later that year or maybe the next.

“ETH 2.0 is only 2 years away” has become a meme. So first, I asked Eric if Ethereum 2.0 would really launch this “Ethereum’stime.launch has never been formally scheduled before, so technically, you can’t say it has ever been delayed. This is the first and only time it has been tried and tested on multiple testnets and scheduled for mainnet activation.” In short, Eric does think Ethereum’s transition to PoS will happen in September 2022.

When you read this magazine, you’ll know if he was right or not.

Why does the Merge matter? What does that mean for me?

The answer to those questions depends on who you are and what you care about.

ETH Price

If you’re wondering about ETH’s price, Eric did a Twitter thread

breaking down the various components and

Nottimeframes.givingfinancial advice (NGFA), but if you’re hoping to cash in on ETH, the former fund manager suggests, you might not want to hold your breath.

Short-term

“I’m leaning towards up because short positions that have been opened might close, but that’s only

if that can overpower the ‘sell the news’ sell-offs. Either way, it’s a shortterm fluctuation that has nothing to do with the Merge per se. Rather, it’s how players have positioned themselves before it. I have no strong opinions, and I don’t plan to trade it.”

It’s worth noting that large institutions have been accumulating ETH for at least five years. What they plan to do with their bags is unknown. Their ability to manipulate the market is not.

circumstancesmacroeconomicare the direst they’ve been since before Ethereum’s inception. As a result, Wall concludes that positive investor sentiment will not be powerful enough to penetrate the overarching macro forces at play.

Long-term

But that doesn’t mean that speculators should abandon hope of retiring on their ETH bags, at least not those with a long enough time horizon. Eric

Mid-term

For those with a slightly longer time horizon, though? Eric says, “macro will still MergeWhiledominate.”Ethereum’scouldresult in an increased number of speculators, global

writes that regardless of what you think about the importance of benefitforthematters.andcarecompliance,sustainabilityenvironmentalorESGinvestorsaboutthatstuff,that’sallthatreally“Longterm,it’srightpositioningEthereum,anditwilltheprice.”

Transactions on the Ethereum chain

For those who transact on the Network,Ethereumthough, ETH’s price may not be their primary concern. Instead, the cost of gas and transaction speed could be more pressing. Moreover, since interest in cryptocurrencies and NFTs has declined in recent months, so has the cost and time it takes to complete a transaction.

Still, anyone who tried to mint an NFT, stake a token, or trade on a DEX during 2021 will remember the pain. This is why many look forward to the Merge. Yet, in August, the Ethereum Foundation clarified that their transition from PoW to PoS won’t reduce gas fees or averagetheresearchers,EthereumThat’sEnvironmentalsomeday.short-term,decreaseGotfeestheinterestedEthereumshardingbuildastheSo,throughput.increaseweaskedEric,what’spoint?“PoSisneededscaffoldingsoyoucanvariousformsofontopofitthatresearchersarein,soitislayinggroundworktoreduceinthefuture.”it!SotheMergewon’tfeesinthebutitcouldImpactgreatforfutureusersandbutwhydoesMergematterfortheperson?

Eric says, “The only real significance to a casual person is that when you buy an NFT on Ethereum and get attacked on social media for destroying the environment, you can now say ‘actually Ethereum uses Proof-of-Stake, so your argument is invalid.’”

“So the ability to virtue signal?” I asked.

“Yep!” Eric replied.

Classic! This ties to a larger issue about the sustainabilityenvironmentalofPoS versus PoW, and ESG, which Seth Estrada wrote about elsewhere in this issue.

Seth wonders if minting an NFT on a proof-of-work chain is really tantamount to setting the Amazon rainforest ablaze. “Unlikely,” he concludes. For his part, Eric has also done a deep dive weighing the pros and cons of PoW vs. PoS. He doesn’t “want to be perceived as glossing over PoW miners’ potential of acting as a so-called ‘load balancer’ on the energy grid while using mostly renewables.” Still, in the end, he concludes that “Proof-of-Stake is less wasteful.” If you’re interested, you can read it on his Medium blog

resistanceCensorship-

Price, cost, speed, and environmental impact

are shallow, surfacelevel issues compared to censorship. Indeed, freedom of speech is central to the Cypherpunk Manifesto, the U.S. Constitution, and the United Nations' Universal Declaration of Human Rights. In 2021, a particular crypto group even sacrificed nearly $1 billion to say, "we believe in freedom of speech, and code is speech," to support an upcoming Ethereum fork. So, I asked Eric, is there anything to the concern that PoS Ethereum won't be censorship resistant?

Eric said, "There's a very real chance that many validators won't include particular transactions on the OFAC blacklist. But many validators will include transactions.thoseThus, the odds of censorshipimpenetrablearepretty low.

The dangerous censorship scenario being discussed is a theoretical scenario where the validators perform a so-called 'evil softfork' on the network, meaning they only allow compliant transactions on the chain."

He further explains that for any of this to be possible, validators would have to not only control billions of dollars in Ether (which corporate and government entities most certainly do), but

they would also need to navigate technical hurdles and be willing to risk the network slashing their Ether as thatlegalIt's'crime'Ethereum,Cashservice,forsomeoneunderstandableourhas"Thisforeseetrends.thinksTornadorecentifOncan'theconsensuswhileIt'sPrivacyGovernmentthatcensorship,riskPoSEthereum’sSolessbutcontrollingmanyelevatedofconcludes,"Altogether,"punishment.Wall"thechancecensorshipisindeedinETH2duetoregulatedentitiesalotofstake,theprobabilityisstillthan5%,I'dsay."thereyouhaveit.transitiontocarriesanincreasedoftransactionbutEricthinksriskislow.Overreach&CoinsworthnotingthatEricisanexpertinalgorithms,isn'tanoracle,andhepredictthefuture.thatnote,IaskedErichewassurprisedatthesanctioningofCashandifhethatindicatesfutureIndeed,hedidn'tthatoutcome.isn'tsomethingthateverhappenedtoindustrybefore.It'swhengetsintroublerunningamixingbutTornadowasrunningonsotheonlywaswritingcode.averydangerousprecedenttosetwritingcodecould

be illegal. It seems like the authorities are engaging in some kind of overreach, and they need to be contested in a court of law."

I couldn't agree more, but when the laws are corrupt, you have to wonder about the courts, too, right?

Women in Cryptocurrency

Now what you've all been waiting for: the topic of gender in cryptocurrency. Just kidding, I saved this part for last so those who want to read it would have to read through everything else first and so that those who don't want to read it can stop reading now.

Believe it or not, this is one of the most divisive issues in cryptocurrency. Even the women who work in crypto can't seem to agree. At the protocol level, cryptocurrency doesn't gaf about your gender, but crypto holders certainly do.

As a woman who owns and works in cryptocurrency, people often ask what kind of challenges I face that men in my position do not. Unfortunately, I have to tell them I'm not qualified to answer that question because I'm limited by my own experience. Eric/a, however, can provide some unique insight.

Introducing Erica

On top of everything else, Eric is an infamous Twitter

troll. He's been known to bait enthusiastic crypto communities against one another, just to see which will make themselves look dumber. His sarcastic tweets, coupled with genuine market insights and so-called alpha drops, have garnered almost 100k followers. In January, Eric took trolling to a new level when he used a photo of himself that was altered to look like a woman to create EricaDAO. He raised the stakes further by continuing to switch backand-forth between Eric and Erica in the following months. So I asked if he was experimenting with gender biases or if this was something else?

"I don't know. It started as a joke, but now I think I'm multigender.''exclusively-online-Itmeans I am basically multi-gender but only online because I'm too lazy to care about it IRL," Wall explained.

Eric has said he created EricaDAO to raise crypto's profile and bring blockchain to the mainstream by leveraging the vast audiences who flock to serve crypto queens. However, he may have been surprised to learn that it isn't entirely accurate. "I don't get followers any faster as a woman vs. a guy, For what it's worth…. I actually lose followers turning female because people will look at my

sarcastic tweets and think, 'why am I following this dumb bitch?' instead of getting the humor… People will attack your womanhood if they get a chance, but I've never had my manhood attacked. People assume you get all your followers for free because you're a woman, and automatically assume you're undeserving of your success. So if you say something stupid, they'll love that and weaponize it against you immediately. I'd say when you're a woman, people assume the worst about you. If you try to make crazy jokes, people will just assume you're a dumb bitch or literally insane. So it is easier to be sarcastic and playful as a guy."

This explains so much!

"It also changes how much engagement I get. Contrary to what most people think, I usually lose followers and engagement when turning female." So much for the theory that a male persona on Twitter is hard mode

That said, bemanyacontinues,advantage.andisadvantageeverycarriesequalandoppositeEric"Onlinelifeascontroversialfigureincommunitiescanquitementallytolling.

I use the different genders as tools to get by in that extreme climate when

everyone is at everyone's throats. Sometimes I just use it to confuse the hell out of my enemies. Sometimes I am cornered, and suddenly I switch, and it looks like a bunch of guys are ganging up on a chick, which is funny to me."

Eric's candid responses about weaponizing his online gender fluidity could get him canceled among crypto's more woke crowd, but I doubt he would care. He's explaining a dichotomy that the women of crypto Twitter have long since experienced. While his humorous experiment answers the question about how women experience CT differently, a larger issue still looms: Does gender bias extend to the professional sphere and bar women from meaningful participation? Perhaps another time…

Call to Action

Eric is a verified expert in consensus algorithms. We're satisfied with his answers about Ethereum's transition from PoW to PoS and how that will affect us. Still, now that Ethereum's Merge is complete, maybe Vitalik himself will be able to set some time aside to talk to CryptoMag. If that's something that you'd like to read, let him know by tagging him (@ VitalikButerin) and us (@ cryptomagz) on Twitter.