SHIBA Inu and Bitcoin are down today after President Biden statement drawing attention to potential pitfalls of the currency such as ransomware and other cyber threats.
The statement from Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.
“That’s why my administration is marshalling a whole-of-nation effort to confront cyber threats.”
The White House also signaled that the US will gather 30 other countries, including NATO and G7 allies, to discuss responses to cybercrime.
“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.
Federal Reserve chair Jerome Powell also announced Thursday that there are no plans to ban cryptocurrency in the US, and prices soared 10 percent.
Read our cryptocurrency live blog for the latest news and updates…
‘MILESTONE SCABILITY TEST’
Solana is on the rise following a “milestone scalability test” last month.
It hosted the “Degenerate Ape Academy”, a collection of digital artworks (NFT) on Solanart, a marketplace on the Solana network.
WHO FOUNDED ALCHEMY PAY?
The cryptocurrency was co-founded by payments industry veterans Molly Zheng, Shawn Shi and John Tan.
Trading for Alchemy Pay first began in September 2020.
According to Alchemy Pay, it is the “world’s first” hybrid crypto and fiat payment gateway.
Through Alchemy Pay, users are allowed to receive payments in the local currency of their choice, regardless of how it is sent.
EXPERT COMMENTS ON ALCHEMY PAY AND BINANCE
Shaun Heng, vice president of growth and operations at CoinMarketCap told The Sun that it’s challenging to assess the risk of many crypto projects like Alchemy Pay.
And while he isn’t a fan of Alchemy Pay’s crypto-linked cards, he did tout one its partners Binance, which is the largest crypto exchange by trading volume globally.
Heng said: “The partnership with Binance is most definitely a good sign of validation for the project.”
RISKS OF ROBINHOOD, PART THREE
In July, the platform was also ordered to pay nearly $70million in fines and compensation for misleading customers and outages.
If you are seeking a discount broker and are looking to open an IRA account, you can check out the following platforms: Vanguard, Fidelity, TD Ameritrade, Merrill Edge, among others.
RISKS OF ROBINHOOD, PART TWO
For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.
Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.
RISKS OF ROBINHOOD
When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.
If you’re choosing Robinhood so you can trade stocks and cryptocurrencies – then the game gets even riskier.
Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.
For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.
Since then, the crypto spaced has endured volatility.
CRYPTO-TRADING HAMSTER, CONTINUED
The four-legged financial fiend is not completing transactions himself, of course.
Instead, Goxx’s trading decisions are made inside a camera-rigged “office” attached to his regular cage.
Every day, when he enters the office, a stream is started on Twitch and a tweet is sent out to his followers notifying them that trading has begun.
The hamster then runs on an “intention wheel” that chooses one of 30 different cryptocurrencies to trade.
A CRYPTO-TRADING HAMSTER OUTPERFORMS MARKET
A hamster in Germany is trading in cryptocurrencies and has consistently been outperforming the S&P 500.
The furry animal, called Mr Goxx, has been busy working since June, thanks to a specially adapted cage.
He determines which currencies to buy or sell by running on his wheel or walking through one of two tunnels.
Mr Goxx started trading on June 12 this year.
The site states that the page is just for fun and does not offer financial advice.
Speaking to the BBC, the two 30-something German men behind the channel explained that the idea started as a joke.
“We felt that everything keeps getting more expensive these days and building savings is super-hard to achieve with high rents to pay,” they said.
“It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what’s going on there.
“We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”
SHARES IN CRYPTO FIRMS FALL
Shares of cryptocurrency-related firms Coinbase Global, MicroStrategy Inc, Riot Blockchain, and Marathon Patent Group fell after China’s central bank put a ban on crypto trading and mining.
“It’s been a very volatile week to say the least, so I think going into the last week of September the volatility is likely to continue especially with the end-of-the-quarter window dressing,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Investors are also looking for signs of progress on President Joe Biden’s spending and budget bills.
ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, CONCLUSION
“I’ve never been more excited about the potential of the Internet,” Ohanian added.
“And that’s largely thanks to Vitalik Buterin.”
Buterin is the co-founder of Ethereum and also co-founded Bitcoin Magazine in 2011.
ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, CONTINUED
“No one person could’ve possibly come up with all of the uses for Ethereum, but it did take one person’s idea to get it started,” Ohanian added about Buterin.
“From there, a new world has opened up, and given rise to new ways of leveraging blockchain technology—some of which I’ve invested in.”
“Whether it’s startups like Sorare reinventing fantasy sports or Rainbow users showing off their NFT collections, none of this would’ve existed without Vitalik’s creation.”
ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN
“Thanks to Reddit’s r/Ethereum community, I’ve had the privilege of following Vitalik Buterin’s career from early on, which is why I’ve taken a certain pride in watching his legacy grow,” Ohanian wrote of the programmer.
“Sure, we can talk about the value he’s created as the platform’s co-founder, including Ethereum’s impressive market cap of around $400 billion, the dazzling world of decentralized apps and this year’s boom in the trading of NFTs.”
“What makes Vitalik so special, though, is that he is a builder’s builder.”
NEW CRYPTOCURRENCIES IN 2021, CONTINUED
The VDV token was launched in May 2021 and designed to “develop a new generation payment platform that can be integrated with the existing eCommerce industry,” so its website states.
The VDV payment system consists of the VDV token, which is built on Binance Smart Chain and designed for ecommerce payments.
NEW CRYPTOCURRENCIES IN 2021
EverGrow is expected to be the next cryptocurrency to explode in 2021.
With every transaction, it distributes eight per cent of the transaction to all token holders directly to their wallets.
The process is fully automatic and each holder will get a share in proportion to the amount of coins they own.
An additional one per cent is applied to all the sales to lower the volume of swing trading.
DOW JONES EXPERT ON TRADING CRYPTO ON WALL STREET
Some cryptocurrencies will be brought to the trading floors of Wall Street, Money Control reported.
“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
WHAT ARE THE MOST VALUABLE COINS?
Cryptocurrency prices hit record highs earlier this year amid interest from high profile individuals such as Elon Musk and more institutional investment in the sector.
Values can be volatile though and regulators have warned that investors could lose all their money.
CRYPTO CASTLE? (PART TWO)
The therapist says Bitcoin addicts are often addicted to drugs and booze.
He said: “Commonly, people start because they want to buy stuff off the dark web. And the only way to do that is with cryptocurrency.
“The biggest problem is this cross addiction [with crypto] starting—through drugs and alcohol.”
Since 2017, Tony has treated 15 people who have been addicted to crypto.
Users travel from the likes of the United States, Dubai, Malta and the Netherlands to get treatment at the clinic.
Tony says that too many stories about Bitcoin are about people who have made fortunes – and not the traders who have gambled their lives away.
A rehab clinic in Scotland claims to be the first in the world to treat cryptocurrency addiction.
Castle Craig, a private hospital in Peeblesshire near Edinburgh, has seen admissions for Bitcoin addicts increase by a factor of 10 in the past year.
The clinic is overseen by therapist Tony Marini who claims to be the first physician to recognise that crypto trading is very similar to gambling.
He says most addicts start by occasionally trading before frequent wins feed dopamine cravings and dreams of earning millions.
Tony told Decrypt: “If you say to somebody doing crypto, ‘so you’re occasionally gambling,’ they’re gonna go ‘no, I’m not.’
“So take out the word gambling and say ‘occasionally trading.'”
HOW TO BUY SHIBOSHI NFTs
Shiba Inu explained that initially, the NFTs will only be available through the subdomain ShibaSwap, where users will be able to trade, make offers, and buy.
The company said buying and trading will be “completely free (except for the gas fee).”
Users will only be able to purchase them using LEASH in the first 24 hours.
After that time period, ETH purchases will also be available.
The first 3,000 Shiboshis will cost 0.1 ETH but must be purchased in LEASH.
The next 5,000 will cost 0.2 ETH, and the final will be for 0.3 ETH.
Each wallet can buy a maximum of 10 NFTs.
CAN BITCOIN HIT $70,000, CONTINUED
A year from now, Wallet Investor sees the price of Bitcoin surpassing $86,000. In five years, the price is expected to skyrocket to $209,033.
Meanwhile, Economy Watch predicts the price of Bitcoin will return to its heights in April of $64,000 at the end of the year.
Then, at the beginning of 2022, Economy Watch notes Bitcoin will “be heading towards the $70,000 mark.”
CAN BITCOIN HIT $70,000?
To reach $70,000, Bitcoin would have to climb by 23% in the remaining days of the year.
And the way things are trending, Bitcoin might break $70,000 at the end of the year.
At the end of 2021, Coin Price Forecast sees the price surging to $79,576. By mid-2023, it is expected to hit $71,386.
WHAT ARE THE RISKS OF INVESTING IN BITCOIN?
Although the returns have been favorable in the past year – a potential investment can turn out poorly if bought too high.
But then the billionaire caused a big sell-off on Bitcoin when he said Tesla would stop accepting payments of the cryptocurrency.
Although Musk has said he thinks there’s a future with Bitcoin and Tesla, he has expressed environmental concerns over the cryptocurrency.
Since April 13, Bitcoin has dropped 10% to date.
HAS MUCH HAS THE VALUE OF BITCOIN CHANGED, CONTINUED
“We believe the turnaround in sentiment towards bitcoin is due to constructive statements from SEC Chair Gary Gensler, potentially allowing a Bitcoin ETF in the US,” digital assets fund manager CoinShares wrote in a report on Monday.
“Our recent survey data also highlights greater institutional participation in the asset class.”
But keep in mind that September wasn’t the greatest month for Bitcoin.
HAS MUCH HAS THE VALUE OF BITCOIN CHANGED?
Furthermore, Bitcoin has jumped 26% in the past month.
Some of gains can be attributed to Gary Gensler, chair of the US Securities and Exchange Commission, repeating his support for Bitcoin exchange-traded funds (ETFs).
Instead of buying Bitcoin directly, the move means you invest in futures contracts.
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