Crypto Pirates

Young women priced out of booming housing markets should adhere to some fundamental risk management guidelines while moving up the risk curve to purchase crypto.

Young female investors are increasing their risk tolerance in order to accumulate wealth and avoid surging house prices, mortgages, stagnant salaries, and weak employment growth.

Katie Ware, 25, is one of an increasing number of female investors who initially set their sights on real estate as their ultimate investing aim. She is presently involved in cryptocurrency speculation.

"The last 18 months have greatly impacted my ability to purchase a home before I turn 30," she says. "At first, I invested little amounts out of fear of missing out on a new technology wave, but I've since realised that bitcoin can be a long-term means to build my wealth, and so my investments have increased."

Diversified investments

Young women are becoming an increasingly attractive target for riskier investing goods and services, as businesses capitalise on their growing financial independence.

However, many women under the age of 25 currently have less money to spend. This demographic has had a 17% decline in full-time employment since January 2020 – roughly three times the rate experienced by males of the same age and much higher than any other age group or gender since the epidemic began.

Between September 2019 and September 2021, part-time and full-time work numbers indicate that women under the age of 25 have been mostly excluded from the intermittent employment recoveries in and out of COVID-19 lockdowns, according to the September quarter Financy Women's Index.

In terms of reaching financial gender equality, the Financy Women's Index indicates that while women's achievements have improved, the underlying data indicates that the improvement is not genuine and that young women continue to face significant disadvantage. The index increased by 2% to 73.6 points in the September quarter, up from 72.2 points in June, mainly to reducing gender disparities in the employment and underemployment sub-indices.

Appetite for danger

With less money coming in (as judged by Roy Morgan) and inflation predictions higher than the long-term average, women's risk tolerances are being rewritten, and property is no longer on the table.

Loans to first-time buyers, who are typically between the ages of 31 and 33, declined 5.6 percent in September and are 27.1% lower than they were in September 2020.

For many women, an appealing alternative has been digital currencies, with their relatively lower entrance point, social media network of supporters, and "stepping stone" transfer to bigger things, despite the fact that a single Bitcoin today trades for $89,000.

"While I am diversifying my portfolio, I will continue to invest in cryptocurrency because I see a genuine need for a decentralised currency in an increasingly digital future," Katie explained.

"I do not currently own land, but it is something I am pursuing."

According to new study from digital currency exchange BTC Markets, women like Katie will represent the fastest increasing segment of cryptocurrency investors in the fiscal year 2021.

According to the Investor Study, female user growth increased by 172%, while male user growth increased by 79.5 percent.

Women are investing in cryptocurrency despite the fact that it is unregulated and volatile, owing to the low entry point compared to the cost of a $1 million house in Sydney or $670,000 to purchase the median property in Australia.

Another recent survey conducted by share trading platform Stake discovered that stocks and exchange traded funds (ETFs) were more popular investments among individuals aged 18-40 than real estate (60 per cent vs. 40 per cent).

Organisations have been eager to tap into young women's expanding spending power.

According to the Afterpay Economic Impact Study for 2020, 55% of buy now, pay later consumers will be younger women aged 18-34 who are technically aware, enjoy spending, and enjoy sharing their victories on social media – just consider the development of the female #fininfluencer.

Afterpay's new Money app is yet another example of how firms are carefully positioned to capitalise on this burgeoning market.

Consider the following factors before investing in hazardous assets or utilising purchase now, pay later services:

* Begin modestly.

* Limit your investing or spending.

* When investing or connecting to buy now, pay later services, use debit cards.

* Never invest money that you are unwilling to lose.

* Choose reputed companies who offer transparent terms and conditions.

* Avoid overspending with buy now, pay later if you are unable to repay the loan when it is due.

* Be aware of your escape clause or end aim.

* Diversify your portfolio with various investments or techniques to mitigate risk.

* Be cautious about hacking in cryptocurrency and with particular wallets.

* Preserve the security of your personal information.

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"Ask your waitress for current market pricing," she says, pointing to a menu in a restaurant. At a restaurant that accepts cryptocurrencies, the menu notes, "The inflation is 'temporary,' and the rate of inflation is a touch too fast." There may be a problem if some eateries are unable to print their prices on their menus due to their rapid fluctuation. When will supermarkets follow suit?

Why have meme and joke currencies performed better than "serious" coins in cryptocurrency? And what does this tell about the underlying dynamics of what is currently occurring? Because it was never intended to function as a market. It was created with the intention of serving the people, for the people, and by the people. The difference between those who have turned coins into markets and those who explode their coins out of pure love for the crypto is why crypto was invented in the first place, not to create currency.

Simply put, many people overlooked the tremendous ten-year BTC run in terms of percent. Now, individuals desire to earn "fast" money. Serious coins require time to develop in terms of price and project. Shiz initiatives are quick to execute and have a high rate of growth. Risky and rewarding Because people lack "time2," they take a chance.

Only those coins that are truly doing anything have succeeded well, and they perform better than the majority of older coins, simply because they are attempting.

It's difficult to say no to what appears to be a guaranteed "get rich quick" scheme based on meme coins. People are unaware that for every one person who becomes wealthy via meme coins. Others lose their money in the same way.

This exhibits several points: 1) Con: The usual retail investor has no idea how to measure value; he or she simply reads a prediction and wishes to get wealthy quickly. 2) Pro: The retail investor grossly underestimates his or her ability to influence the market (as a whole).

Individuals are completely bankrupt. They are battling. Purchasing a home or repaying school loans on time is a pipe dream for a large number of young people these days. A 20% return will not suffice for them. SHIB or DOGE provide a glimmer of hope. Regrettable yet accurate.

Number bias is a significant factor. Individuals believe they have a greater upside by purchasing inexpensive Shit coins rather than larger MC blue chips. Additionally, many new investors believe they missed the BTC boat and are betting on new coins.

I sincerely hope that these investors would come to their senses.

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Eric Balchunas, senior ETF analyst at Bloomberg, put the likelihood of the SEC approving the VanEck fund at less than 1%.

BlackRock Financial Management's global head of iShares and index investments stated that the financial firm is unlikely to introduce crypto-related exchange-traded funds (ETFs) in the near future.

According to a Financial News report published Friday, BlackRock CEO Salim Ramji stated that the firm, which manages $9.5 trillion in assets, has "no current intentions" to create a cryptocurrency exchange-traded fund until greater regulatory clarification in the United States is achieved. He noted that while BlackRock is unlikely to be among the first in this new sector for crypto-related investments, the business must do due research.

"Before we wrap or put our brand on crypto, we want to ensure that our clients will be satisfied with us in five or ten years," Ramji explained. "The regulatory landscape for cryptocurrencies remains exceedingly murky and undefined."

In October, digital asset management Valkyrie and ETF provider ProShares introduced Bitcoin (BTC) Strategy ETFs on US stock platforms. Both funds provide direct exposure to cryptocurrency futures in the United States, with the filings likely prompted by Securities and Exchange Commission (SEC) chair Gary Gensler's hint in August that the agency may be open to approving exchange-traded products exposing investors to regulated bitcoin futures contracts.

In its first week of trading, ProShares' fund surpassed $1 billion in assets under management. Additionally, the BTC Strategy ETF has risen to the top 2% of all ETFs in terms of trading volume, with almost $400 million in shares traded on Nov. 10.

While Valkyrie and ProShares launched their BTC Strategy ETFs within days of one another, VanEck's product has yet to be cleared for listing on any exchange, despite contradicting media reports indicating a firm launch date. VanEck filed a prospectus with the SEC on Aug. 9 for its Bitcoin Strategy ETF, but is also awaiting clearance or refusal from the regulatory body for its spot Bitcoin ETF, which is slated to make a judgement by Nov. 14.

According to Bloomberg's senior ETF analyst Eric Balchunas, the likelihood of the SEC approving the VanEck fund are fewer than 1%, given the SEC's track record of declining offerings from investment firms with exposure to cryptocurrency.

"The Eagles have a better shot at winning the Super Bowl," Balchunas stated.

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This year, the percentage of Bitcoin's market capitalisation as a percentage of the total crypto market capitalisation fell sharply.

The decline in Bitcoin is the result of financial backers shifting their investments to altcoins, which also offer decentralised applications, non-fungible tokens, and other generally ongoing developments.

At the moment, one of the altcoins has drawn the attention of bullish projections analysts. Many believe it will soon overtake the dominant cryptocurrency, Bitcoin.

LTC IS FORMING A PATTERN AGAINST BITCOIN SIMILAR TO THE ONE IT FORMED IN MARCH OF 2017

Litecoin has been steadily pushed out of the top ten coins by market capitalisation over the previous year or so.

Despite the fact that the token had fallen to 13th place at the time of publication, well-known crypto researcher Nicholas Merten remains optimistic.

LTC is currently setting a precedent against Bitcoin, much like it did in March of 2017, just before embarking on a massive convention against the most valuable crypto resource.

Given its turbulent history, this is a huge projection. LTC's group was investigated not long ago, following a bogus rumour about a collaboration between a company and retail behemoth Walmart.

Merten was taken aback by this news, but he recognises it as a fantastic venture. As a result, he asked his followers to keep an eye out for LTC.

The token was worth $270 at the time of press. Currently, if the token continues to flood as predicted, it will most likely surpass its previous ATH.

BITCOIN VS. ALTCOINS?

This was, in fact, the case in this instance. This cycle, exchanging altcoins may be more difficult than Bitcoin.

Regardless, Merten cautioned against tossing alerts about these altcoins everywhere. He believes altcoins will be a better bet throughout this cycle.

As long as you're not all in completely speculative little covers, because you're not tying up all your resources in one place. He emphasised the need for some type of enhancement as well as key research to support such claims.

He concluded by stating that he believes that, for the most part, investing in altcoins will be more profitable than investing in Bitcoin until we reach the top of the cycle. Things will also change once the market rectification begins.

Furthermore, veteran dealer Peter Brandt, a long-term Bitcoin HODLer, predicts that something similar, such as Litecoin (LTC), will soon surpass the main crypto.

At the moment, a 2017 assembly appearance, or, in practical terms, a move above $500, appears to be reasonable. Nobody could stop its bullish crash into the top ten crypto tokens if it is ready to arrive at this imprint.

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Many developers are dissatisfied with Ethereum. It's prohibitively expensive. It's far too slow. Alternatives are emerging. Some, like Cardano, have been around for a while. Others, such as Solana, are relatively new. This year, it's everyone's favourite.

For the past few months, I've been looking for new blockchain projects to invest in. Polkadot (DOT) and Cardano (ADA) are already in my collection. Solana was recommended to me months ago. I should have paid attention. This year, it has increased by 12,000%. That's right, a twelfth of a percent. If you put $1 into Solana in December of last year, you'd have $12,000 today.

I completely missed Solana Summer. I despise it when that happens. I'm curious if I should prepare for the Solana Winter.

In a nutshell, Solana is a blockchain platform that enables developers to create new apps – whether for decentralised finance or the creation of non-fungible tokens. According to the company, it now has 1.3 million active accounts and has processed 38 billion transactions. As of November 7, they had locked in $15.23 billion in decentralised finance projects on Solana. Metaplex is the focal point of Solana's NFT market, with approximately $32 million traded in NFTs on a weekly basis.

Solana's gift to the world of crypto "dapps" is that it is more scalable than Ethereum and has a lower "gas price." The ecosystem is exploding as a result of this cost basis. If Ethereum were a real gas station, inflation at the pump would be higher than – oh, never mind.

I tried to contact Solana a few months ago, but I couldn't persuade them to talk about what's next. They were too preoccupied with preparing for their Breakpoint conference in Lisbon, which concluded on November 10.

I spoke with some investors who are familiar with them, as well as some users, to determine whether I needed to spend $233 to purchase at least one SOL, given that I missed out on purchasing one for a buck and change last December. You have to despise it when that happens.

"As asset managers, we like Solana for both investment and development," says Ben McMillan, founder and CIO of IDX Digital Assets. Their podcast "Off the Block" is aimed at crypto investors who want to learn the new language of blockchain businesses, and features interviews with people such as Anatoly Yakovenko, Co-Founder of Solana. Yakovenko was born in Ukraine, as were his parents. He's 100% Americano, having graduated from the University of Illinois at Urbana-Champaign.

"We're developing our own decentralised apps for investment management functions, and we're going to transition from developing solely on Ethereum to developing on Solana as well," McMillan says, citing lower transaction fees and scalability.

The first mover advantage is enormous, and others have drawn parallels to Betamax, which was a superior technology to VHS tapes but never gained widespread adoption. IDX Digital Assets invested in Solana early on due to the technology, but "the critical metric for us was when we saw a large volume of users migrating from Ethereum," McMillan says.

"The customer is always right," as the saying goes, and in this case, it was measured by user sentiment among those fleeing Ethereum for Solana. These last few months, developer chitchat on Github, the de facto "meeting" place online for developers, has been all about Solana.

The key question right now is how well Solana scales. Due to congestion, the network was down for nearly a day on September 15. Could this become a more persistent issue as developers transition away from Ethereum?

According to McMillan, the type of projects going up on Solana is also important. "NFTs drove the early growth, but for long-term sustainability, we'd like to see continued growth in non-NFT decentralised apps as well as new projects," he says.

Solana is "certainly a rising star of crypto," according to Nigel Green, founder and CEO of the $12 billion traditional asset manager deVere Group, which is now heavily invested in crypto and fintech. Its potential is becoming unfathomable."

To be honest, there is a lot of optimism surrounding Solana. You throw a banger in Lisbon if you want to know what to do with a 12,000 percent gain, and while I didn't go, from what I heard, it was packed.

"After Bitcoin and Ethereum, I believe Solana is the next big thing." That is why, following the recent price drop, I am currently purchasing it," says Vladimir Kardapoltsev, CEO of PointPay in Estonia, a blockchain that serves finance as both a crypto wallet and exchange as well as a payment system. "Scaling advances, such as Layer 2 rollups, have the potential to accelerate the currently slow world of blockchain." Solana is currently the fastest blockchain and the fastest-growing ecosystem."

Solana and other blockchain projects must expand their user base. They will need developer support to do so, which means they will need computer programmers to choose their system to operate on instead of, or in addition to, another blockchain.

"There is clear leadership behind Solana, and there is adequate funding," says Andrey Belyakov, founder of the Opium Protocol, a decentralised derivatives network.

"At Solana, all the boxes are checked. Ethereum is still the most popular blockchain for Dapp development, with the best community, but there is room for more than one. "I'm keeping a close eye on Solana," says Belyakov, a professional financial derivatives trader and portfolio manager who has managed roughly $30 billion in funds.

Solana COO Raj Gokal stated from Breakpoint in Lisbon that Solana's goal was to have 1 million developers on its ecosystem. "There is no timetable. But, how quickly do we want to see it? "As quickly as possible," he said at the event's start, sitting in a baseball cap next to Yakovenko, who was dressed almost identically.

Nobody should expect another 100-point gain in Solana. Is it worthwhile to pursue? I remember when Ethereum was around $200, and now it's worth more than $4,000. As a result, I'm going to say yes. I'll have to think about it.

"Dapps are far more useful than Bitcoin because they have the potential to reinvent banking, insurance, and other aspects of the financial system," Belyakov says.

You don't yet own Solana, but you do own Ethereum. You're still in good physical condition. "Ethereum is the ideal showcase," Belyakov says, "and I believe Ether will soon become the number one cryptocurrency."

According to Green of deVere Group, the market has legs. Then maybe we'll have a Solana Winter.

"I believe Solana's bull market run will continue for the remainder of this quarter," he predicts. "It will set new all-time highs this year."

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Fabio Panetta stated that the ECB will investigate ways to make the euro's digital form legal currency over the following 24 months.

Fabio Panetta, a member of the European Central Bank's Executive Board, recently revealed that the euro's digital counterpart might become legal tender within the European Union.

Euros in the Digital Age 'Should Not Be Assumed'

According to Bloomberg, at a panel discussion in Helsinki, Finland, Italian economist and ECB member Fabio Panetta hinted at the proposal. He said that if the European Central Bank continues its efforts to develop a digital currency, the new medium of exchange will have a good chance of becoming legal tender within the EU's borders.

Panetta added that the government will conduct an in-depth examination of the venture over the next two years. Nonetheless, the Italian stated that such a move "should not be taken for granted" and that the financial institution should exercise extreme caution.

He argued last week that the digital euro will not be "redundant" among alternative currencies because the ECB will strive to make the CBDC cost-effective and usable. The latter is critical since it has the potential to increase general population acceptance. According to the Italian economist, the central bank's digital money will be "attractive enough" to garner public attention.

Elvira Nabiullina, the head of Russia's central bank, concurred with Panetta during the event on the design of a central bank digital currency.

She recently stated that CBDCs operating under government supervision will be the financial network's future. On the other hand, she is an outspoken critic of private digital assets, which she believes are extremely volatile and might result in investors losing "colossal sums."

Euros in the Digital Age Could Be More Environmentally Friendly Than Bitcoin

The European Central Bank announced earlier this year that it would initiate a 24-month investigation phase for a digital euro initiative. The ECB's research section will "seek to address critical design and distribution challenges" during the testing period, as the digital form of the euro "must be capable of meeting the needs of Europeans."

Additionally, the CBDC should "prevent unlawful activity and mitigate any adverse effect on financial stability and monetary policy." The European Central Bank's Christine Lagarde stated that the financial instrument should be "the safest form of money."

Finally, the ECB claimed that the digital euro will consume "negligible" energy in comparison to bitcoin. It's worth noting, though, that central bank digital currencies and the principal cryptocurrency are two quite different types of assets.

A CBDC is a digital counterpart to a country's fiat currency in which the central bank retains complete authority. It lacks decentralisation since monetary policy and regulation are shaped by a single authority.

On the other hand, Bitcoin is the polar opposite, which is why many predict that the establishment of a CBDC will further drive people towards BTC.

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As the popularity of crypto-assets grows, users will demand a platform to buy, sell, and keep them. Cryptocurrency use is growing in popularity in Southeast Asia. For example, Singaporeans are increasingly embracing cryptocurrencies as a form of payment for some things, according to reports.

Even in Australia, a place where crypto-assets continue to experience tremendous activity, the Commonwealth Bank of Australia said that it will permit crypto trading for users via the bank's app.

Additionally, Mastercard announced a partnership with three Asian cryptocurrency firms to produce bitcoin payment cards. Among them are Hong Kong's Amber Group, Thailand's Bitkub, and Australia's Coinjar trading platform.

The alliance aims to deliver cryptocurrency-linked credit, debit, and prepaid cards for individuals and businesses in the Asia Pacific region. Cardholders will be able to immediately convert bitcoin and other digital currencies to fiat currency, which they may then spend online or offline at any store that accepts Mastercard payments.

Despite the rising use and demand for crypto asset management platforms and similar services, Binance, the world's largest cryptocurrency trading exchange, has been banned in several Southeast Asian countries. Indeed, China has suspended cryptocurrency trade entirely and has begun cracking down on privately generated coins.

The Singapore Monetary Authority (MAS) has cautioned about sharp speculative wings and potential hazards for individual investors in cryptocurrencies. Ravi Menon, managing director of MAS, stated during the Singapore Fintech Festival that the Singapore central bank "frowns on cryptocurrencies or tokens as an investment instrument for retail investors."

Interestingly, according to the Crypto Asset Management Market 2021-2025 report, the global crypto asset management market is expected to reach US$1.2 billion in 2026, with the APAC region expected to offer significant growth opportunities for cryptocurrency management vendors during the forecast period.

The survey noted that significant improvements in network infrastructure, cloud computing, economic growth, and a stable geopolitical system have paved the way for solution providers to thrive in the APAC area.

Additionally, smartphone apps for cryptocurrency exchange have facilitated the work of asset traders and miners. Numerous stock market apps now include cryptocurrency apps that allow users to not only manage but also trade digital assets. When these cryptocurrencies are supported by blockchain technology, they can be used for a variety of payments and transactions.

Additionally, the survey found that electronic wallet apps typically store digital assets and money, allowing users to spend on blockchain-based transactions. These cryptocurrency tracker applications make a concerted effort to deliver up-to-date information on exchange rates, trades, market dynamics, and a portfolio of various cryptocurrencies. Coinbase, Gemini, Crypto Finance, Vo1t, and BitGo are all examples of cryptocurrency asset management firms.

Purchasing, selling, and trading virtual currency

As a result, Ripple, a supplier of enterprise blockchain and cryptocurrency solutions, will debut its Ripple Liquidity Hub in 2022. The system, which is now in preview mode, will enable users to seamlessly access crypto assets across a range of global venues, including market makers, exchanges, OTC desks, and in the future, decentralised venues. The system will provide turn-key integration and intelligent order routeing to enable customers to quickly buy, sell, and hold crypto assets at optimal prices.

Ripple has been utilising Liquidity Hub for internal liquidity management as part of its On-Demand Liquidity solution for nearly two years, enabling millions of transactions worth billions of dollars. Now, Ripple will make the product available to its hundreds of customers worldwide, as well as to any financial institutions, banks, fintech companies, or corporates in need of assistance in preparing for the inevitable crypto-first world.

"We understand firsthand the importance of simple and effective liquidity management – and as such, we've received inquiries from consumers seeking solutions that act as a one-stop shop for purchasing, selling, and holding crypto assets. The combination of Ripple's crypto DNA and our extensive experience working with financial institutions uniquely positions us to address this issue for our customers as they prepare for a tokenized future," said Asheesh Birla, general manager of RippleNet.

Unlike other available solutions, Liquidity Hub is tailored to enterprise customers and their unique requirements, with an easy onboarding process and a streamlined API for obtaining digital assets from a diverse collection of liquidity pools. Additionally, corporations will benefit from optimised pricing across a broad range of digital assets, enabling them to provide their consumers the best price possible across a variety of liquidity venues. Enterprises will not be required to pre-fund Liquidity Hub accounts and will instead be able to access working money via Ripple to fund their company operations.

Ripple's first alpha product partner is Coinme, the largest licenced cryptocurrency cash network in the United States, with thousands of locations nationwide. Coinme will initially leverage Liquidity Hub's core technological infrastructure, with the intention of adding new functionality as it becomes available.

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* YouTube Video Special "The Internet is Rotting Away" by BitBoy Crypto Founder Ben Armstrong 

The Internet is Rotting Away, a free video special from BitBoy Crypto, the most popular crypto content channel on YouTube with over 5 million subscribers. The 12-minute presentation marks the 30th anniversary of Tim Berners Lee's World Wide Online Whitepaper, which envisioned a decentralised web. 

In this short movie, we discuss the key problem in the internet's current design that threatens our liberties and how blockchain technology might help. The free video special expands on BitBoy Crypto's objective to educate those active or interested in the crypto industry by simplifying complicated crypto ideas. 

When Ben Armstrong decided to go "full-time crypto" in January 2018, he created the BitBoy Crypto YouTube Channel to help the crypto community grow. Since then, BitBoy Crypto has become a trusted source for information on bitcoin and other cryptocurrencies.

* Crypto is Illegal for Muslims in Indonesia, say Religious Leaders 

The Indonesian National Ulema Council (MUI) declared cryptocurrency illegal for Muslims. The council deemed cryptocurrencies Haram and hence prohibited their use by Indonesian Muslims. 

Indonesia is one of the world's largest Islamic countries, with about 237 million Muslims. The head of religious decrees, Asrorun Niam Soleh, said cryptocurrencies might be sold as commodities if they follow Shariah law and have evident benefits. 

The decision was made following a council meeting earlier this week, the chairman of religious decrees said. He remarked that as long as cryptocurrencies as a commodity or digital asset complies with Shariah and has a clear benefit, it can be used.

* Russia's state Duma wants to regulate mining 

The widespread acceptance of crypto is forcing most countries to regulate it. While crypto may be used to make money, criminals are already employing it to do harm. In this context, the Russian state Duma announced the formation of a committee tasked with developing national crypto legislation. According to the body, creating crypto-related regulations is a difficult task that requires all hands on deck. 

The comment was delivered on November 10 by Russian Duma Chairman Vyacheslav Volodin. In a statement, he instructed the Russian legislative branch to organise a group to supervise the sector's regulation. After the declaration, Andrei Lugovoy, the security representative's deputy, announced the group's formation. 

Lugovoy, a DPP depute, said earlier today that the law will be brought to the Russian Duma. Lugovoy added that regulating Bitcoin and other digital assets was necessary because most of them generate income without paying taxes.

* Cryptocurrency and themed ETFs are risky 

Why aren't more individuals investing in thematic exchange traded funds? Or are these ETFs just another bull-market gimmick designed to entice investors? 

These are critical questions as money pours into ASX-listed thematic ETFs. BetaShares' new Crypto Innovators ETF provides exposure to global crypto firms. 

This comes after ETF Securities launched the ETFS Hydrogen ETF last month, which gives exposure to global hydrogen enterprises. Although commercialisation of hydrogen may take years or decades, the ETF received over $60 million in its first month.

* Should users be compensated for their contributions? Crypto staking as a new business model 

The internet economy moves quickly. Investors rush to give a fresh IT company with a large user base a large market cap. Uber, for example, was valued at $91 billion yet still lost money. Uber declared its first profitable quarter in over a decade on Thursday. Everyone knows that devoted customers are the lifeblood of a business. But what does this entail for profit allocation? 

The role of the client in a company's economics must be rethought as the market for digital services expands. If users are a company's most important asset, shouldn't they be paid for their efforts? The 21st century's most valuable resource is attention. 

While most established organisations have loyalty programmes to reward their most loyal clients, the new tech landscape leads to users being able to command even bigger benefits. And many people desire passive income to supplement their wealth or give security in an unpredictable economy. Enter the staking feature of crypto assets.

* On BTC's $68k ATH, Paypal Co-Founder Peter Thiel said, “My big miss was not buying more Bitcoin”. 

Paypal Co-Founder Peter Thiel only regrets one thing about Bitcoin: he wished he had bought more during the National Conservatism Conference in Orlando, Florida. BTC hit a fresh high of $68,789 on Wednesday while Thiel spoke. 

“I Should've Bought More” 

“I think one of my extremely significant misses of the previous decade was not buying enough Bitcoin, not buying enough crypto,” said the billionaire at the conference aimed to “solidify and mobilise national conservatives.” 

To him, crypto assets had surpassed traditional markets, not only providing eye-catching returns, but also quickly becoming the world's new currency.

* How High Can the Metaverse Boom Take AXS Crypto? 

The bitcoin market is now very volatile. Axie Infinity (AXS) is no exception. Many investors are now wondering what the future holds for this promising cryptocurrency. 

With all the recent buzz about the metaverse, AXS is a coin that is gaining traction. An online crypto game's blockchain name is Axie Infinity. This digital environment allows users to collect in-game cash. You can then exchange it for “real money.” The token price of AXS-USD has risen in line with Axie Infinity's significant user growth and adoption. 

Investors in the crypto realm appear to be following companies like Nvidia (NVDA) and Meta Platforms (FB) into the metaverse.

* Hong Kong virtual insurer collaborates with exchange to deliver crypto insurance to Asia 

In a business rife with frauds and hacks, investor safety is vital. In truth, the need for bitcoin asset protection has been long in the making. 

Institutional investors frequently avoid the asset class due to risk concerns. To address this, major financial institutions in Hong Kong are offering crypto-insurance for the first time in Asia. 

According to the South China Morning Post, virtual insurer OneDegree teamed with cryptocurrency exchange HKbitEX to offer cryptocurrency insurance (SCMP).

* NFTs could be as huge as crypto trading, says Coinbase CEO 

Brian Armstrong, co-founder of Coinbase Global, says the market for non-fungible tokens (NFTs) may be larger than the bitcoin market. The bold comment came after Coinbase revealed third-quarter sales of roughly $1.3 billion on a conference call on Tuesday. The announcement allayed fears that revenue would be below expectations despite a five-fold growth year-on-year. 

Coinbase wants to launch its own NFT marketplace for trading digital art and other items over the next two quarters. The startup hopes to provide customers with a platform that is more like Instagram than a traditional marketplace like e-Bay.

* Twitter creates dApps and NFTs team 

With this new staff, the firm will be able to focus on upcoming blockchain, dApps, and NFT technology. 

Twitter has announced the formation of a crypto unit to govern its blockchain and crypto-related divisions and initiatives. 

Aside from this, Twitter indicates that it is willing to invest heavily in decentralised technology development and research. 

Engineer Tess Rinearson will lead the newly formed crypto team. After leaving Chain.com and Cosmos, Rinearson worked on the Tendermint Core blockchain technology.

* Chainlink's [LINK] conviction remains high; 27% rise is not unexpected 

“Buy the dip” feeling reverberated as the market fell. Chainlink remained unaffected, projecting bullish tendencies with the altcoin ensemble. 

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I'm about to become more relevant, as the cost of our morning and evening addictions is set to increase, due in large part to that blasted Coronavirus.

As an economist, you may become enthused or concerned about matters that are difficult for the average person to understand — this is part of the isolation associated with the patch. When the economy affects everyday people, however, social 'outsiders' such as economists and scientists become more valuable to society.

The epidemic has conditioned us to accept epidemiologists pontificating in the media — even if the 'epi' word is difficult to pronounce!

Notifications that the price of a cup of coffee or a cocktail is about to increase should be greeted with excitement by the average person. These price increases help ordinary people grasp the economic concept known as supply chain difficulties. These are the actual changes that will increase another economic term in the next months, namely inflation.

This highlights another economic concern shared by the majority of consumers/borrowers: rising interest rates.

These price increases are critical to the central economic issue over which Wall Street and the global money markets are concerned, namely whether these price increases or inflation are temporary or permanent.

Optimists argue that the impending inflation increase will endure for a brief period while the world's producers overcome the virus's limits. Pessimistic analysts predict that this will continue to drive inflation higher for an extended period. If these forecasters are correct, interest rates will rise sooner and more rapidly than currently anticipated.

This will have an adverse effect on stock prices, high-yield investments, job creation, and economic growth. It is truly worth hoping that the inflation spike is transient and that strong economic growth occurs without concern for price increases.

According to the ABC, "Restaurant and Catering Industry Association CEO Wes Lambert warned consumers may spend up to 20% more than in the past."

Costs of goods and labour are driving price increases, demonstrating the impact of travel restrictions, border closures, and the influence on production. Importers of food products from all over the world are paying a higher price for little items such as the wrapping paper used by food manufacturers!

Then there are the consequences of pay increases, with the head of the Restaurant and Catering Industry Association claiming that approximately 100,000 jobs are currently vacant. This might remain the case until international workers and travellers return, which could take until mid-2022.

States that remain closed for an extended period of time should face higher price increases than those that open sooner and may thus recruit foreign labour immediately.

Tanya Hanouch, owner of Wolfe & Malone restaurant, spoke with the ABC about the pandemic's impact on her establishment. "In early [2019], we were seeking for kitchen help, and I would post an ad... and we would receive between 20 and 30 emails in a single day," she explained.

Hanouch posted the same advertisement nearly two weeks ago, including a 25% hourly wage increase, yet not a single applicant has applied. "I believe that with our internationals gone and people remaining hesitant to return to work, it's a catastrophic scenario for many of us in hospitality seeking workers," she explained.

And if this shortage and price problem persists well into 2022, one group of investors who will remain unfazed by it all will be those invested in bitcoin and other cryptocurrencies, with both bitcoin and ethereum reaching all-time highs this week, though the former fell about $US2,000 overnight to $US66,685!

However, its price has increased by more than $36,000 since June! This is a bizarre asset that has gained acceptance in recent years, particularly as financial institutions such as the CBA have made it simpler for its consumers to acquire, sell, and store cryptocurrencies. 

While it will take time for these new currencies to be accepted and understood, they will eventually become an integral part of our monetary system, and regulation will eventually make their acceptance simpler. 

Until then, there will be plenty of people gaining and losing money on cryptocurrencies, but those that got in early are significantly wealthier than they were before to going long crypto and will easily weather the rising inflation caused by the Coronavirus.

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Not everyone is ecstatic about NFTs and cryptocurrency.

"I categorically oppose NFT integration on Discord."

"I'm leaving immediately and switching to Slack if you integrate NFTs."

"I will leave Discord if you introduce NTFs or cryptocurrency to the platform."

This is only a snippet of the flood of comments left on Discord's website following the company's founder and CEO's indication that the community chat platform might integrate NFTs.

Discord's creator and CEO Jason Citron responded through Twitter on Monday to an entrepreneur Packy McCormick's newsletter. The article focuses on Discord's potential to become a future leader in the Web3 space.

Web3 is the buzzword being thrown around in the cryptocurrency and NFT field right now to promote the idea that the next version of the internet following the social media period (aka Web 2.0) will be decentralised. Web3 is essentially a blockchain-based version of the internet. One can understand why crypto and non-fungible token (NFT) proponents would be positive on this, as it would solidify their current investments as the future.

Numerous bitcoin and NFT enthusiasts believe the billion-dollar video game business is the killer industry that will bring their Web3 aspirations to life. Naturally, Discord is quite popular among gamers. They account for the lion's share of its user base.

Citron responded to McCormick's article-related Twitter tweet with two simple words and a screenshot.

"Probably nothing," Discord's founder tweeted alongside an image of an unpublished Discord feature that allows users to connect their Ethereum wallet to their Discord account.

Citron's indicated functionality appears to be akin to Twitter's NFT verification feature. Essentially, a user can connect their crypto wallets to the platform in order for their account to be automatically populated with the NFTs they own in order to showcase them publicly.

The Twitter response immediately gained traction, and the tone has been decidedly nasty.

Hundreds of new comments are being made every few minutes on Discord's customer care website for Nitro, its paid subscription programme, from customers expressing their opposition to the impending NFT move. Some customers have even cancelled their paid Nitro subscriptions in anticipation of the new feature.

"I've been using Discord all day, every day for years, but I'm going to stop using it immediately if it starts incorporating this pyramid scheme money laundering planet destroying evil inc. nonsense," read one of the several comments on Discord's Nitro support site. "What are you thinking, literally?"

The majority of anti-NFT sentiment is motivated by a few significant issues. Some users have expressed concern about the large number of cryptocurrency-related scams that have already infiltrated Discord channels. According to them, implementing a cryptocurrency wallet would simply serve to legitimise the scammers.

Others emphasise the negative environmental impact of NFTs. On the Ethereum blockchain, NFTs are traded. According to a July Fortune article, "a single Ethereum transaction consumes the same amount of electricity as an ordinary US household consumes for a workweek."

However, there is something more to gamers' resistance to NFTs. To have a better idea, take a look at this recent Bloomberg post that speculates on the future of NFTs and crypto.

The essay includes a real-world example of a former Goldman Sachs employee who is now establishing a business around the NFT-based game Axie Infinity. To play the game, at least one of its NFTs must be purchased, which costs hundreds of dollars. According to Bloomberg, the former Wall Street executive purchases the NFTs and then grants a "scholarship" to people who cannot afford them. Essentially, they get to use his NFTs to play the game, but they must share all of their in-game bitcoin winnings with him.

Another example from the Bloomberg piece is a hypothetical scenario in which NFT buyers can acquire Mario Kart characters and prevent them from being used in any other game.

Oh, you're not interested in a single wealthy individual being able to play as Mario in an entire video game series? Numerous gamers continue to be vehemently opposed to microtransactions in video games. Not only do NFTs increase the cost of gaming, but they also have the potential to completely exclude players from particular experiences due to the exclusivity that NFTs provide for those who can purchase them.

Discord is not the only site that have faced flak this week over proposed connections with NFTs and cryptocurrency.

A Reddit programmer recently wrote a tweet thread revealing the popular platform's impending integration of Bitcoin functionality.

Reddit users were so outspoken in their opposition to the proposal that the Reddit employee promptly removed all of his tweets promoting the initiative.

Mashable has contacted Discord and Reddit for additional information about their cryptocurrency and NFTs plans, as well as to remark on their users' reactions. When we receive additional information, we will update this story.

Web3 proponents can spin things however they want, but to the majority of web users, Web3 appears to be an attempt to commodify everything in the digital domain. That favourite video game you enjoy to unwind at the end of a long day is now a stock-like asset. Your favourite memes are no longer meant to be shared widely; instead, it's all about who paid the most crypto cash to claim ownership of them.

Only a little more than a decade ago, social news portal Digg ruled the online realm. Then Digg imposed a redesign on its users, driving away even its most ardent fans to a then-young website called Reddit.

History has a proclivity for repetition. Platforms such as Reddit and Discord would be wise to listen to their users.

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