CoinQuest

2024-03-05 12:18:29 $BFM presale has officially started!
ICO Stage: 3rd Round
Ends: November 19, 2023, at 00:51

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Join their community: @BenefitMine_Official Open / Comment

2024-02-29 11:03:17 Big Move: How Bitcoin Ordinals Is Taking NFTs To New Heights

Wu reported that the BSV community has been instrumental in developing Bitcoin Ordinals and BRC 20. Unisat, the core wallet of BRC20, was created by the Chinese development team of the former BSV community, which also developed Sensible Contract, a smart contract solution on BSV.

The BSV community has extensive participation in Bitcoin Ordinals and BRC 20. Behind Unisat, the core wallet of BRC20, is the Chinese development team of the previous BSV community, which has developed Sensible Contract, a smart contract solution on BSV. By TechFlowPost

— Wu Blockchain (WuBlockchain) May 9, 2023
The team behind Ordswap, the first BRC20 trading platform, developed RelayX, the first decentralized trading platform on the BSV network. Twetch, a social application built on BSV, is behind the Ordinals Wallet. Additionally, the founder of the Mempool mining pool is a core member of the BSV community.

These advancements have paved the way for Binance NFT Marketplace to announce its upcoming support for Bitcoin Ordinals. Bitcoin Ordinals are a way to create NFTs by attaching data to individual satoshis on the blockchain. Each bitcoin consists of 100,000,000 satoshis, and the protocol allows each satoshi to be identified and transacted with extra data attached. The additional data can include text, images, videos, or other content and is added to each satoshi through inscription.

The Taproot and SegWit upgrades to the Bitcoin protocol have made this possible. As a result, ordinal inscriptions do not require a sidechain or separate token and allow the creation of true, immutable collections on the Bitcoin blockchain. More than one million inscriptions have been made in the first three months since the Bitcoin Ordinals launch, creating yet another use case for Bitcoin beyond simple value transfer or storage. Open / Comment

2024-02-28 11:39:46 Liquidation of Silvergate led to increased distrust of the crypto-industry

The collapse of one of the largest banks in the crypto industry led to another crisis of confidence in the industry

One of the largest banks in the cryptocurrency industry, Silvergate Capital, plans to wind down operations and voluntarily liquidate. This decision has caused the shares of cryptocurrency-related companies to plummet as the bank's collapse has triggered a crisis of confidence in the industry, Reuters writes.

According to Marcus Sotiriou, a market analyst at GlobalBlock, investors are now worried about the bank collapse. It could have serious implications for U.S. cryptocurrency regulation and the ability of banks to work with digital asset platforms and cryptocurrency brokerage firms.

"The demise of Silvergate was not a cryptocurrency issue. It was clearly because Silvergate didn't have enough cash, which led to a lack of capital because of bank runs," Sotiriou said.

That said, Konstantin Shulga, head and co-founder of Finery Markets, believes that the bank collapse could potentially mean a definite trend for cryptocurrency to move outside the U.S., at least until there is a more comprehensive cryptocurrency regulatory framework in the U.S.

KBW Managing Director Michael Perito recalled that Silvergate still has a $205 million Microstrategy term loan outstanding, though that loan was substantially collateralized by BTC and was running at year-end, and there is now no idea how or at what cost it might be liquidated.

"This would entail licensing crypto-financial intermediaries under securities laws and SEC oversight, and it should prevent the kind of fiasco that led to the bank raid on Silvergate in the first place," said Aaron Kaplan, head of Prometheum Inc.

Several companies have announced that they are cutting ties with Silvergate. LedgerX was the first to cut ties with the bank. Open / Comment

2024-02-27 15:09:01 Billionaire Michael Saylor Responds to Charlie Munger's Criticism of Bitcoin – This is What He Said

Michael Saylor, the co-founder and former CEO of MicroStrategy, has addressed Charlie Munger's criticism of Bitcoin, claiming that he hasn’t taken the time to understand Bitcoin.

In a Friday interview with CNBC, Saylor said he is "sympathetic" to Munger's criticism of the broader crypto market, noting that thousands of altcoins are little more than avenues for "gambling." However, he argued that Warren Buffett’s right-hand man would have had a different idea about Bitcoin if he studied it.

“If he was a business leader in South America or Africa or Asia and he spent a 100 hours studying the problem, he’d be more bullish on bitcoin than I am,” Saylor explained, adding:

“The Western elites have not had the time to study … but I’ve never really met someone with an incentive living in the rest of the world that spent some time thinking about it that wasn't enthusiastic about bitcoin.” Open / Comment

2024-02-26 11:57:02 Everywhere you turn today, the buzz is all about one thing — the Azuki Elementals mint.

The fascination, the excitement, and the intrigue around this mint have created a fervor that is impossible to ignore.

The Azuki Elementals are the third addition to the rapidly expanding Azuki universe, including Azuki’s genesis collection and Beanz.

Spanning four different domains (Lightning, Earth, Water, and Fire) and rarity tiers, Elementals consists of 20,000 NFTs.

The first 10,000 were airdropped to Azuki holders at the project's recent Vegas event. Open / Comment

2024-02-25 15:44:28 ​​ Gmoney will release free tokens for NFT Alpha

Gmoney is launching an exclusive NFT collection, Admit One. It will release NFTs to a select group of people through a free mint, paying homage to the legendary CryptoPunk.

How does Gmoney distribute Admit One's NFT?
Admit One is a private group of 1,000 people made up of Web3 enthusiasts, developers and thought leaders. NFT owners will have access to a close-knit community as diverse and dynamic as possible. Considering that this community has only 1,000 admission tickets, Gmoney and the team spent months to calculate the distribution mechanism.

The first 11 Admit One tickets will go to the 11 wallets that own all 3 NFT Bitcoin Miami. Apparently, they were the ones who supported Gmoney from the beginning and this is one way to show their gratitude. Next, 200 spots will be reserved for a hand-selected group of people who will be valuable to the community. More than half of them are influential women in the NFT space.

Gmoney is allocating 698 seats for those who have a POAP from Bitcoin Miami in June 2021. It is also allocating 60 seats for Admit One partners/team members and 30 seats for future distribution. The rest will be up for grabs, and if not, future distribution.

There are so many ways to distribute NFT and over the past year we have seen both good and bad.

Gmoney wants the value of the collection to be determined by the community, not him. Further, he wants 100% of the community, including himself, to be on the same boat and working in the same direction. Making a profit from the mint will not be consistent with what he preaches. Open / Comment

2024-02-20 10:28:21 Bank of America Says PayPal’s Stablecoin Will Not Record Significant Adoption In The Coming Months

A new report by the Bank of America suggests that PayPal’s new stablecoin, PYUSD will not record the projected adoption in the near term citing tougher competition and indifference of investors.

Per the report, the launch of the new stablecoin by the financial giant is great for the digital asset community and the company itself but it will struggle going head to head against USD Tether (USDT) and USD Coin (USDC).

“Investors may have been fine holding non-yield bearing stablecoins such as Tether (USDT) and USD Coin (USDC) when rates were close to zero, but yield-bearing stablecoins will likely become increasingly available and attractive with short-term rates above 5%.”

A major criticism leveled against PYUSD is the company’s strategy to explore alternative monetization rather than the yield of reserves. The company plans to utilize its structure in centralized finance to drive adoption through a watertight market.

The bank in its analysis further cites a lack of new functionality, lack of wallet compatibility, and trading pairs as reasons why the asset could face headwinds in the future. Alkesh Shah and Andrew Moss, analysts with the bank argue that most investors do not care which stablecoins they hold as they are often considered safe and accessible. Open / Comment

2024-02-16 11:10:40 LayerZero Labs Introduces 4 New Tokens To Fantom Network For Increased Stability

LayerZero Labs has announced the introduction of four new tokens – USDC, USDT, WETH, and WBTC – built on top of LayerZero, to the Fantom network. With support from the Fantom Foundation and a majority of the ecosystem, these tokens are expected to account for over 50% of the TVL on Fantom.

The adoption of these assets on Fantom will bring much-needed stability and longevity for projects utilizing them as liquidity, collateral, stores of value, and more. LayerZero-powered assets are already widely used as canonical assets across a number of ecosystems, and the introduction of these assets will ensure that the Fantom ecosystem can continue to grow with the trust of its users. The new tokens will be able to be bridged between Fantom and Ethereum via Stargate Finance.

This announcement comes ahead of Fantom’s next two major milestones, Carmen and Tosca. With over a dozen of the most recognizable teams building on Fantom, the platform is poised for further growth and adoption in the coming months.

Coincu previously reported that LayerZero has officially acknowledged that the CEO’s Twitter account has been compromised. As a precautionary measure, users have been warned against clicking on any suspicious links or engaging in questionable activities.

Last month, the Uniswap Foundation shared an assessment report on cross-chain bridges, providing insights into the analysis of various protocols. According to the report, LayerZero did not fully meet all the requirements at the time of evaluation. However, the foundation noted that LayerZero is actively working towards fulfilling these requirements through a planned upgrade to its Oracle and relayer set. The Committee strongly urges the LayerZero team to implement this upgrade swiftly and recommends conducting a reassessment after the new configuration has been operational for at least three months. Open / Comment

2024-02-13 11:24:56 US President Joe Biden Gets Laser Eyes, Is it Bullish or Bearish for Bitcoin?

US President Joe Biden accidentally promotes Bitcoin by posting the "laser eyes" picture grabbing reactions from crypto experts.

https://coingape.com/us-president-joe-biden-gets-laser-eyes-bitcoin-maxis-crypto-community-reacts/?utm_source=Telegram&utm_medium=Olivia Open / Comment

2024-02-09 14:18:59 ​The Deteriorating Macroeconomic Climate

The Nigerian fintech, Chipper Cash, recently confirmed it had laid off a second batch of employees as part of measures aimed at containing the company’s operating costs. Although no figure has been provided, one report estimated the cuts to be around 100 people, or 12.5% of Chipper Cash’s entire workforce.

According to a Techcrunch report, the fintech’s firm latest retrenchment exercise has impacted all areas, from human resources to the research and legal departments. Commenting on the fintech’s axing of talented employees less than three months after it laid off the first group, Chipper Cash CEO Ham Serunjogi detailed the circumstances that prompted the company to let go of some of its talent.

“The last two years were a period of rapid growth and scaling for us as a business and, to reflect this, our global headcount grew by around 250 people. However, given the macroeconomic climate, we are narrowing our current focus to core markets and products – concentrating our efforts where we know we can thrive,” Serunjogi reportedly said.

The CEO added that with the unfavorable circumstances that have now prevailed for more than one year, Chipper Cash can only operate effectively with a smaller team.

Meanwhile, the same report quotes Serunjogi denying reports that Chipper Cash has shut down its crypto department. According to the CEO, the fintech startup’s crypto trading platform is one of the largest in Africa and one of its “fastest growing products,” hence Chipper Cash will “continue to invest in the product.” Open / Comment