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The Coinbase SuperBowl ad causes their website and app to crash
Coinbase, the world's largest cryptocurrency exchange, is under fire after its Super Bowl ad promised free cryptocurrency to the public.
The US$20 million advertisement, which aired during the biggest NFL game of the year and was seen by approximately 200 million people, offered US$15 in free cryptocurrency.
Coinbase's advertisement, which reportedly cost the company around $14 million, simply displayed a QR code that viewers were supposed to scan with their phones. The user was then supposed to be redirected to a different page where they would receive their free cryptocurrency.
However, due to the high volume of traffic, the website was unable to handle the onslaught, resulting in some disgruntled customers.
Despite the disaster, people praised the advertisement's minimalistic approach, which was reminiscent of a DVD player's screensaver, with the code bouncing around the screen.
Some even went so far as to say that the website crash would benefit Coinbase in the long run, as mention of the incident lingered on Twitter long after the game had ended.
Ukraine is tense.
Tensions on the Russia-Ukraine border have remained high as Russia threatens to invade Ukraine.
Conflict between the two countries, which may elicit involvement from the US and its allies, will have an impact on the global economy, on top of rising oil prices, which are already a source of concern.
According to analysts, the conflict is likely to create uncertainty in the crypto market, putting upward pressure on crypto prices.
If the conflict and political instability result in the closure of banks and a drop in the value of currencies around the world, crypto's use case as a transparent peer-to-peer money transfer system may be put to the test.
This is due to the fact that cryptocurrency may provide citizens with access to capital in the event that banks fail.
This has recently been the case in Myanmar, where rebels have attempted to destabilise the militant government that took power in a coup about a year ago.
In this case, funding for the rebels was obtained using cryptocurrency, which is untraceable and anonymous.
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By Crypto PiratesCoinbase, the world's largest cryptocurrency exchange, is under fire after its Super Bowl ad promised free cryptocurrency to the public.
The US$20 million advertisement, which aired during the biggest NFL game of the year and was seen by approximately 200 million people, offered US$15 in free cryptocurrency.
Coinbase's advertisement, which reportedly cost the company around $14 million, simply displayed a QR code that viewers were supposed to scan with their phones. The user was then supposed to be redirected to a different page where they would receive their free cryptocurrency.
However, due to the high volume of traffic, the website was unable to handle the onslaught, resulting in some disgruntled customers.
Despite the disaster, people praised the advertisement's minimalistic approach, which was reminiscent of a DVD player's screensaver, with the code bouncing around the screen.
Some even went so far as to say that the website crash would benefit Coinbase in the long run, as mention of the incident lingered on Twitter long after the game had ended.
Ukraine is tense.
Tensions on the Russia-Ukraine border have remained high as Russia threatens to invade Ukraine.
Conflict between the two countries, which may elicit involvement from the US and its allies, will have an impact on the global economy, on top of rising oil prices, which are already a source of concern.
According to analysts, the conflict is likely to create uncertainty in the crypto market, putting upward pressure on crypto prices.
If the conflict and political instability result in the closure of banks and a drop in the value of currencies around the world, crypto's use case as a transparent peer-to-peer money transfer system may be put to the test.
This is due to the fact that cryptocurrency may provide citizens with access to capital in the event that banks fail.
This has recently been the case in Myanmar, where rebels have attempted to destabilise the militant government that took power in a coup about a year ago.
In this case, funding for the rebels was obtained using cryptocurrency, which is untraceable and anonymous.
Support us!