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kyoukage01

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Posts posted by kyoukage01


  1. The use of AI chatbots like ChatGPT is becoming more prevalent now, and it is inevitable that some forumers might figure out its application to this forum. On whether or not this will prove beneficial or detrimental to this particular forum, I'd like to hear from Cryptotalk members like you.

     

    The points where AI chatbots may be used on are the following:

    • Topic generation
    • Comment posts
    • Replies, confirmations, rebuttals, etc.

     

    Posts/topics are not limited to news, inquiries and discussion threads. It can be used on such things as bounty campaigns as well.

     

    Any comments?

     

    Let me do the first stone throw.

     

    AI chatbots on an online forum is freakin' CHEATING!!!!!

     

    • +3 1

  2. Cryptocurrency Market Monthly Updates - Based on CFGI (Sept 14 - Oct 13, 2022)

     

    The CFGI chart was moving along a flatline neutral to bullish range the past few months. The chart has inverted towards the fear range however, in which the CFGI dipped to 37 fear last Aug 18, disrupting the equilibrium for the first time after many months. The chart line has stabilized for this month, albeit still in the fear range, with the current record for today at 44 fear.

    image.thumb.png.3b0feb529adf02ec052426d890537a44.png

     

    BTC has suffered a bit, with its price range now at ~$26,000 knocking out its chances of reaching 30k USD. The historical bear -ber months further complicates any chances of wild price swings going positive in favor for crypto prices at the moment.

     

    (Updated with permission from the OP.)

     

    • +5 1

  3. Cryptocurrency Market Monthly Updates - Based on CFGI (July 14 - Aug 12, 2023)

     

    The CFGI chart is still stabilized at the neutral range for the whole month of July, as there are as yet no significant event/s that can alter the current status quo of the crypto market. The rating for today is at 54, and by the looks of things, the neutral range may continue on until maybe the -ber months.

     

    image.thumb.png.823b4471a37186645e8cb03ba0e76c8d.png

     

    Despite generally favorable news from the crypto news outlets (my favorite would be this one), there hasn't been many major changes to the cryptocurrency market. Crypto prices however, may go up or down in the near future, things can go either way as we may all know in this scenario of CFGI neutrality.

     

    Spoiler

    image.thumb.png.3a64e9df2bea3bf5c4df8e066d3d6ff4.png

    Attached is a chart from coinmarketcap taken today. Of particular note is BTC still hovering below the $30,000 mark. The price may not be able to climb back to its highest level of ~$60,000 for this year, but at least it has recovered and stabilized from its price crash last year.

     

    (Updated with permission from the OP.)

     

    • +5 1

  4. Cryptocurrency Market Monthly Updates - Based on CFGI (March 13 - April 11, 2022)

     

    There was a slight hiccup as the CFGI rating dropped to 33-ish on March 10-12, but has since recovered and has consistently going up the bullish route until today, with the current rating displayed at greedy 68. That is even despite the negative news on crypto which has failed to drag down the crypto market (more on the link below). Is the time period for "buying the dip" over? I think so. Kudos to the folks who've managed to invest on crypto especially BTC last November.

     

    The CFGI chart here is displayed on the 3-month period to show the March 10-12 fear rating.
    image.thumb.png.a42ea25896d51887d90ad291cb514358.png

     

    The article here describes nicely the cryptocurrency environment for these past few days.

    https://www.forbes.com/advisor/investing/cryptocurrency/crypto-market-outlook-forecast/

     

    • +5 1

  5. On 12/30/2022 at 1:22 PM, kyoukage01 said:

    Frankly, I don't see anything at this point that will improve the CFGI to at least display a consistent months-long neutral rating.

    I'm glad I got proven wrong on the previous comment, seeing how the CFGI ratings have improved over the last couple of months. However, crypto is not out of the woods yet - with the neutral ratings, anything can still happen at this point. So yeah, just like what @Whited35 said, let's see how this momentum will go. I'm still pessimistic on the crypto market improving significantly this year, hope I'm proven wrong on this one again.

     

    • +5 1

  6. Cryptocurrency Market Updates Based on CFGI - Year End Summary 2022

     

    The first quarter of the year 2022 started out with a bang as crypto enjoyed a bullish (albeit diminishing) market, with Bitcoin alone worth around ~$40,000 or so at the start of the year. But the crypto market has already reached its zenith at November 2021; and crypto prices has plummeted since then, as the market has shown. Now Bitcoin is priced at ~$16,000 which is a far cry from the ~$60,000 record it has attained.

     

    Spoiler

    image.png.e4288d284358b0fcad5f2733727a9678.png

    The chart above shows BTC prices for the year 2022. Look at where it starts crashing down from May and then June to finally at November.

     

    Today's CFGI rating is 28, still at the fear range as expected. The chart shown below is the CFGI index for the year 2022.
    image.thumb.png.77ab852cdca6f97551694034bc111d93.png

     

    Any predictions for the next year?

     

    Frankly, I don't see anything at this point that will improve the CFGI to at least display a consistent months-long neutral rating. So yeah, we should expect another year of bear market. We might even see BTC going down further to ~$12,000 within the first six months of 2023.

     

    But for how long is this bear going to last? Well, there's a year and a half or so left before the next BTC halving, so long-term hodling until then is a good idea. If there is a remote chance that BTC will go further down than its current market price, that time will also be a good chance to "buy the dip".

     

    (Updated with permission from the OP.)

    I will not update this topic until February or March next year. Any updates until then is up to the OP.

     

    • +5 1

  7. Cryptocurrency Market Monthly Updates - Based on CFGI (Oct 13 - Nov 11, 2022)

     

    Remember what I said the last time?

    On 10/10/2022 at 9:59 AM, kyoukage01 said:

    Hopefully BTC won't collapse below 15k USD at that point.

    A couple of days ago, it nearly did. BTC has fallen towards the 15k USD mark, but just briefly. Today it is still reeling from the sudden downturn around ~$17,000.

    Spoiler

    image.png.f0325170e5f69d38b411ac32174cc648.png

     

    As for the CFGI index, despite all that has happened, it is displaying only a modest drop and is currently at 25, not as drastic a drop as some might have feared. This may indicate that the market is not as much in a panic as one would have thought - the sudden bounce back from BTC's 15k to 17k USD worth might even indicate that many investors are "buying the dip", and has prevented the cryptocurrency from plunging further.

    image.thumb.png.a59abe0d84f08914509b7b94b0286661.png

     

    Now, what is to blame for the sudden BTC drop? Well. it has something to do with one exchange going down under.

     

    (Updated with permission from the OP.)

     


  8. On 10/8/2022 at 6:58 PM, Maaz sultan said:

    If admins allow bb codes so I will convince them to list their bounty in cryptotalk .

    Is upgrading this forum to allow BB codes doable at this point I wonder? And if so, are admins willing to take that step?

     

    Maybe if the bounty managers can be convinced to PM the mods and admins to "persuade" them to do so, then that might work. And I'm not talking about just one or two projects - a couple dozen should be able to do some pressure.

     


  9. Cryptocurrency Market Monthly Updates - Based on CFGI (Sept 11 - Oct 10, 2022)

     

    The CFGI chart indicates the market still at the fear range even after a couple of months has passed when it almost reach Neutral back in August. There is no indication of the world economy, especially in Europe with the looming energy crisis, ever improving over the winter months ahead. Bitcoin meanwhile is struggling to keep its price at the ~$20,000 range.

     

    The record for today is 22 fear.

     

    image.thumb.png.81349f751d62a7be9c1e24a4154a7b44.png

     

    The way things look right now, the -ber months are going to be a continuation of the ongoing bear months (pun not intended) until the next year. Hopefully BTC won't collapse below 15k USD at that point.

     

    (Updated with permission from the OP.)

     

    • +5 1

  10. 1. The next time payment is restored in the English section (very unlikely at this time, but still...) please make the number of posts requirement for unlocking payments to 1000 posts. Sure, mods can detect and punish most offending members before they reach 100 posts, but that doesn't stop others from making new accounts and repeating the same offense anyway.

     

    "100 posts? Too easy." 😂 I'd bet this is what they were thinking at the time when they made those alleged bot farms smh.

     

    1000 posts should be a good enough deterrent for bot farmers. And members who will manage to reach 1000 posts are generally more well-behaved due to the fact that they will have much to lose if they get banned.

     

    I know, I know, this suggestion has been posted numerous times already. This is just a friendly reminder 🙂

     

    2. Please clean up the English Beginners section and do a repost of the rules for that section just like this one (link). Only crypto-related and forum crypto payment questions should remain. The rest goes into the Off Topic section or deleted altogether. One should just look at the current Russian's Beginners section and see how much relevant the topics are to crypto than the one we have on the English section.

     

    • +1 1

  11. I say that members should increase first so bounty campaign managers have a good reason to list their projects here. You say there should be bounty campaigns first to lure more new and already existing members to go active again. This is turning out into a "Which should come first - the chicken or the egg?" kind of thing. 😂

     

    There is merit in your point to get bounty campaigns first though. Most members were here the last couple of years ago due to the fact that this forum was paying sats (which is currently halted on the English section) that gave them the motivation to stick around here. Having bounty campaigns here will give them a new reason for them come back here.

     

    Having said that, I think for that scenario to happen, at least 2 things have to be considered:

    1. Bounty rewards should be lucrative enough for new and old members to participate on
    2. Bounty campaign managers are willing to post listings here at the forum's current inactive state

    Do you have some bounty campaigns in mind who can fulfill the #2 line? And how much are they willing to risk for to fulfill the #1 line?

     


  12. I assume you've already PM'ed them, and this topic is an open letter of sorts for the rest of us to react on?

     

    1 hour ago, Maaz sultan said:

    but they said that cryptotalk didn't support bbcodes

    If this is true, then maybe the forum's web designer should start to work on this to meet the demands of the bounty managers. But then again, there are already some bounty campaigns that were offered here before. I think the forum design might need to have some improvements after all, but for now bounty managers might be able to pull through here somehow as long as there are many active members and viewers here.

     

    1 hour ago, Maaz sultan said:

    and the amount of active users are very low

    And here is where the problem lies. Since payments on the English section has been suspended (indefinitely?) the vast majority of non-Russian members have left the forum. I think before any bounty campaigns, something should be done first to increase the number of active members here, because like you've said, bounty managers said "the amount of users here are very low".

     

    2 hours ago, Maaz sultan said:

    I am working with a group of team members on different crypto platforms. Make me your forum bounty mod so i can talk to different bounty managers, invite them to list their project on this forum. 

    As you know me, I join this forum in 2019 and now i have skills to improve this forum . I hope you will understand, and we successfully make this forum regain active and good members. Thanks 

    The admins have the final say whether or not they need a new mod and if you're qualified enough for the job. Good luck to you.

     

    • +3 1

  13. 19 hours ago, IAmNotBot666 said:

    Happy Birthday Cryptotalk!

    I think it is a few days too early to celebrate this forum's birthday, but kudos to you for reusing an existing topic instead of making a new one.

     

    @Whited35 an updated anniversary celebration topic should be in order, right? 😁

    Spoiler
    On 9/25/2021 at 11:34 PM, Whited35 said:

    Happy Birthday 

    CryptoTalk Forum😍!

    It has been two years since this forum came into existence.

    I do not know how fast the time is gone but an adventure with this forum is always memorable.

    On this special day, I would like to thank all

    the forum staff @Admin, @Bigpat, @epidemia, @Desais, @Alex077, @ayatoslaw , and the guys 
    over here, you deserve the best wishes. 

    Thank You🙏!

    download.jpg.5abcbcb4527911a689e072c93271fb13.jpg

     

     

    @Desais @epidemia are there any anniversary forum events we should look forward to in the upcoming days? :3

     

    • +5 1

  14. I guess someone needs to update this topic with what is happening with the TALK token at the moment.

     

    TALK token is starting to pump (???) at the TALK/BTC pair as of this writing.

    image.thumb.png.3114f80ddd6c89eef4c2a7133afb9a93.png

     

    This is most likely having something to do with the forum's anniversary a few days from now. Dunno how long this pump is going to last, and for how many BTCs they are willing to pump with.

     

    Have you guys placed your sell orders yet?

     


  15. Cryptocurrency Market Monthly Updates - Based on CFGI (July 13 - August 11, 2022)

     

    The market fear has slowly but surely been dissipating over the last few weeks, while BTC prices has steadily been clawing its way back to its previous high value over the last couple of month or so and now currently stands at ~$24,000 or so. @Whited35's previous post has the CFGI value on that day at "15", today the value is at "41". That's still in the fear range, but still a significant improvement nonetheless.

     

    image.thumb.png.c469e3ef33421c2a94ec9c87a44f0abe.png

     

    There has been a plethora of news that may have contributed to BTC's (and crypto generally) gradual market recovery. The news which have piqued my interest the most is this one (link). According to the link, the US dollar has been strengthening lately at the expense of other currencies, prompting people to invest in crypto instead. Which happens to be at rock-bottom prices lately too, and that may prove to be a big bonus for long-term investors once crypto starts shooting up the moon again in the far future.

     

    Here's the top 10 crypto coins today from CoinMarketCap:

    Spoiler

    image.thumb.png.b6b83bf46b3b621967c366dd1091108f.png

    Try comparing it against the CFGI chart above.

     

    (Updated with permission from the OP.)

     

    • +5 1

  16. On 7/12/2022 at 10:07 PM, Desais said:

     Hello, unfortunately I do not have any information about the English section 😞, there is a lull on the forum

    There is only so much a handful of people can do in a forum if there is virtually no discussion going on. With the lack of (money 😒) reason for members to post, the English section has become way too quiet. Even I am starting to have misgivings on posting topics on the Crypto World section lest I start to flood its newest content with my own making. It would be nice if there are half a dozen or so members who can post updates on every section as well: the motivation is the problem.

     

    Another inquiry: Is the TALK token dead? Any official announcements about it?

     


  17. How come the CFGI rating falls only to 8 today, when BTC falls to the lowest ever ~$22,000 , the lowest ever since the last bullrun after the halving? I was expecting somewhere around 5 below TBH. What, some even more dreadful news is lurking around the corner to make BTC fall below 20k and drag the crypto market down under even further with it? LOL

     


  18. Some countries have already been making huge strides in accommodating crypto by providing havens for facilities, passing laws in favor of crypto, and even accepting it as legal tender. Not to be outdone, the US under the Biden administration have been looking into crypto's benefits and risks to its economy for some time now, to be able to propose laws to suit the majority of concerned crypto enthusiasts and detractors (link).

     

    Now two US senators, Republican Senator Cynthia Lummis and Democratic Senator Kirsten Gillibrand, have most recently unveiled their latest bill for crypto. These are the main points of the bill, from what I can glean in the news article:

    • The bill will stipulate rules and regulations for consumer protection
    • There will be clarification and certainty to be provided to crypto markets
    • Oversight of the bill, once passed into law, will be given to the Commodity Futures Trading Commission (CFTC)

    For consumer protection, the ability to use the law to sue fraudsters and money launderers is pretty much a given. About certainty to crypto markets, public disclosures of stablecoins (whether they are really pegged to certain currencies or not) may become needed, especially after what happened with TerraUSD last month. And CFTC is being seen as the better overseer of the proposed law, as it is believed to be less strict than the Securities and Exchange Commission (SEC).

     

    There may be a delay in the deliberations on the bill due to the upcoming midterm elections, but it is expected to be paid close attention shortly after.

     

    The news article link is here.

    Spoiler

    U.S. senators unveil bill to regulate cryptocurrency

    By Pete Schroeder

     

    WASHINGTON (Reuters) - A bipartisan pair of U.S. senators unveiled a bill on Tuesday that would establish new rules for cryptocurrency, and hand the bulk of their oversight to the Commodity Futures Trading Commission (CFTC).

     

    The bill, introduced by Republican Senator Cynthia Lummis, one of Congress’ most vocal cryptocurrency advocates, and Democratic Senator Kirsten Gillibrand, marks one of the most ambitious efforts yet by lawmakers to place clear guard rails around rapidly growing and controversial cryptocurrency markets.

     

    The measure would stipulate that the CFTC, not the Securities and Exchange Commission, play the primary role in regulating crypto products, most of which the senators said operate more like commodities than securities. The smaller CFTC is generally seen as a friendlier regulator for cryptocurrency, as the SEC has typically found that crypto products must adhere to a host of securities requirements.

     

    The bill is not expected to become law in the current session of Congress, with the midterm elections just months away, but its framework could serve as a starting point for future debates about how best to oversee those markets.

     

    “We expect this bill will be the starting point for debate next year regardless of which party controls the House or the Senate,” wrote Jaret Seiberg, an analyst with Cowen Washington Research Group. “What does matter is that there is a bipartisan effort to bring crypto into the existing regulatory regime even if the details are likely to change.”

    The senators said the bill is aimed at providing certainty and clarity to crypto markets, alongside consumer protections.

     

    Among other items, the bill would establish new rules for “stablecoins,” which are tokens intended to have their value pegged to a traditional asset like the U.S. dollar. Those products have been under significant pressure lately after a crash in the value of a high-profile stablecoin, TerraUSD.

     

    The new bill would require stablecoin issuers to maintain high-quality liquid assets equal to the value of all outstanding stablecoins, and public disclosures of those holdings.

    source: https://www.reuters.com/article/usa-senate-crypto-currency/u-s-senators-unveil-bill-to-regulate-cryptocurrency-idUSL1N2XU1LD

    • +5 1

  19. There was speculation that "something is not right" when observers have spotted someone was repeatedly buying little-known crypto assets like NFTs before being featured on OpenSea's website, then dump the assets once it generates enough hype for a nice profit (link). Once or twice wouldn't have aroused suspicion, but this was probably done multiple times, enough that these transactions were investigated and eventually linked to Nathaniel Chastain, a former product manager at OpenSea.

     

    But while such practices are unfair and indeed being frowned upon, the apparent lack of vigilance of OpenSea management staff may also be partly to blame. If the allegations are true, how did Chastain knew what NFTs would be shortly up for grabs? They seem to have no safety checks regarding the secrecy of what NFT items are to be featured on their website, and if they do have something like that, they failed to screen the right people to uphold such secrecy.

     

    The discovery of Chastain's alleged scheme and his subsequent arrest may serve as a highlight for a few crypto experts to push their case for more crypto regulations. For while crypto can serve its purpose as the future of digital currencies, there are still plenty of persons who will try and abuse the system to gain personal profit, at the expense of weakening the reputation of crypto as a whole.

     

    More details of the news are in the link below.

    Spoiler

    FBI sets sights on crypto economy with arrest of former OpenSea staffer

    Alex Hern
     

    An ex-employee of the leading non-fungible tokens (NFT) marketplace has been charged with wire fraud and money-laundering offences in a sign that US law enforcement will no longer turn a blind eye to the crypto economy.

     

    Nathaniel Chastain left his job as a product manager at OpenSea, the largest marketplace for NFTs – the unique crypto assets used to denote ownership of items such as digital art – after being accused of insider trading.

     

    On Wednesday he was arrested by the FBI in New York and charged, in a case that could prove concerning for others in crypto who assumed that practices banned in regulated markets were fair game in the wild west sector.

     

    Chastain is accused of using his insider knowledge of which tokens were going to be featured on the front page of OpenSea’s website to buy them shortly before they were featured, and sell them immediately, cashing in on the increased awareness for a small profit each time.

     

    US attorney Damian Williams said: “NFTs might be new, but this type of criminal scheme is not … Today’s charges demonstrate the commitment of this office to stamping out insider trading – whether it occurs on the stock market or the blockchain.”

     

    Chastain’s alleged trades had been noticed at the time. Thanks to the open nature of the NFT market, where all trades are written on to a public database called a blockchain, observers had spotted that someone was purchasing digital assets with questionable timing in September 2021.

     

    The anonymous digital wallet used for the trades was soon linked via transactions to Chastain’s own. OpenSea had not at the time issued an explicit policy against such insider trading, and acted only after Chastain’s trades came to light.

     

    In May, an apparent insider trading scheme was uncovered on a leading crypto exchange: a user who has not been identified would build up large positions in small cryptocurrencies shortly before they were listed on major exchanges, and then sell them for a profit in the resulting surge of interest. A Wall Street Journal report concluded that one such trade netted a profit of $140,000 on a $360,000 investment over less than a week.

     

    But until Chastain’s arrest this week, there was widespread debate over whether such practices were illegal, given the different norms and practices in the sector. For example the trade in so-called “shitcoins” – crypto assets created with no purpose other than to be bought and sold in a speculative market – is openly acknowledged to be full of practices that would be illegal in a regulated market.

     

    According to pseudonymous “shitcoin influencer” Epitaph, the latest wheeze to boost the value of coins is focused around “Larp tokens”. He said this referred to “tokens where the team will go to extreme lengths to convince buyers that they’re connected to famous celebrities/musicians/larger tokens.

     

    “It’s no secret that everything we buy is a scam on some level. The question isn’t ‘is this token a scam,’ because they all are, the question is: ‘Is this scam done well enough to convince other people to buy?’”

     

    Chastain’s arrest comes as a group of more than 25 crypto experts have written an open letter to the US Congress calling for more regulation of the sector. “We implore you to take a truly responsible approach to technological innovation and ensure that individuals in the US and elsewhere are not left vulnerable to predatory finance, fraud, and systemic economic risks in the name of technological potential which does not exist,” the group wrote.

     

    Adding to the regulatory pressure, on Thursday the Commodity Futures Trading Commission sued Gemini, a New York-based crypto exchange founded by the Winklevoss twins, alleging the company misled regulators about the possibility of bitcoin price manipulation in a successful effort to convince the agency to allow the creation of a bitcoin futures contract.

     

    An OpenSea spokesperson said: “When we learned of Nate’s behaviour, we initiated an investigation and ultimately asked him to leave the company. His behaviour was in violation of our employee policies and in direct conflict with our core values and principles.”

    source: https://www.theguardian.com/technology/2021/sep/16/nft-trader-opensea-bans-insider-trading-after-employee-rakes-in-profit

     

    • +5 1

  20. On 1/30/2022 at 11:09 AM, kyoukage01 said:

    Hmmm... using the report button on one of his posts wasn't enough?

    Again another one neglected in the report button I buzzed a few days ago, now he gets bold enough to raise his post count to 100+.

     

    Offender: Ezik Nico
    Profile Link: https://cryptotalk.org/profile/323706-ezik-nico/

    Comment: The offending paraphrased post below is just one of many.
    Evidence:
    Offending post:

    https://cryptotalk.org/topic/165-cryptotalk-forum-what-to-add/?do=findComment&comment=16982918

    Original post:

    https://cryptotalk.org/topic/165-cryptotalk-forum-what-to-add/?do=findComment&comment=3293

     

    • +5 1

  21. With El Salvador adopting Bitcoin as legal tender just a year ago, another country has also adopted the cryptocurrency: Central African Republic (CAR) has become the first African country and the second country overall to do so.

     

    CAR has the CFA franc for its fiat currency, and apparently it and some other African countries are not happy with using it as it is a reminder of the colonial times. Therefore, the decision to adopt Bitcoin can be seen as a way of releasing themselves from CFA while avoiding to create their own currency with a risk of spiraling into hyperinflation.

     

    But unlike El Salvador which more or less has the necessary digital infrastructure to support cryptocurrency adoption, CAR is being criticized for the utter lack of such infrastructure. The likely scenario would be that the adoption would serve for big businesses to use Bitcoin without much fear of legal repercussions, and not much else. Until the issue of digital infrastructure is fixed, the use of Bitcoin for CAR's ordinary household uses is yet too far to become real.

     

    More details of this news can be read here:

    Spoiler

    Bitcoin becomes official currency in Central African Republic

     

    The Central African Republic (CAR) has approved Bitcoin as legal tender - just the second country to do so.

     

    CAR is one of the world's poorest countries, but is rich in diamonds, gold and uranium.

     

    It has been wracked by conflict for decades and is a close Russian ally, with mercenaries from the Wagner Group helping fight rebel forces.

     

    Lawmakers voted unanimously to adopt Bitcoin as legal tender, said a statement from the CAR presidency.

     

    The move puts CAR "on the map of the world's boldest and most visionary countries", it said.

     

    El Salvador became the first country to adopt Bitcoin as an official currency in September 2021 - a move criticised by many economists, including the International Monetary Fund, which said it increased the risk of financial instability.

     

    Others have raised fears that cryptocurrencies such as Bitcoin could make it easier for criminals to launder money, and that they are environmentally damaging because they use so much electricity to generate.

     

    The internet is needed to use any cryptocurrency but in 2019, just 4% of people in CAR had access to the web, according to the WorldData website.

     

    The country currently uses the French-backed CFA franc as its currency, along with most other former French colonies in Africa.

     

    Some see the adoption of Bitcoin as an attempt to undermine the CFA, amid a contest for influence over the resource-rich country between Russia and France.

     

    "The context, given the systemic corruption and a Russian partner facing international sanctions, does encourage suspicion," French analyst Thierry Vircoulon told the AFP news agency.

     

    In the capital, Bangui, the response was mixed.

     

    Economist Yann Daworo told BBC Afrique it would make life easier, as transactions can be made with smartphones and it was easy to convert Bitcoin to any other currency.

    "Businessmen will no longer have to walk around with suitcases of CFA francs that will have to be converted into dollars or any other currency to make purchases abroad," he said.

     

    He also argued that the CFA was not being used "to benefit Africa". There are growing calls in several countries for the currency to be dropped by those who see it as a relic of the colonial era, enabling France to continue to exercise economic control.

     

    However, computer scientist Sydney Tickaya said he thought the adoption of the cryptocurrency was "premature" and "irresponsible".

     

    "Internet access is still underdeveloped in the country while Bitcoin depends entirely on the internet," he said, adding that the CAR had more pressing issues such as security, education and access to drinking water.

     

    The CAR has suffered from ongoing conflict since its independence in 1960.

     

    In 2013, mainly Muslim rebels seized control of the largely Christian country. Self-defence militias were formed to fight back, leading to widespread massacres along religious lines.

     

    After President Faustin-Archange Touadéra came to office in 2016, the country started shifting its strategic alliance from France towards Russia.

    source: https://www.bbc.com/news/world-africa-61248809

     

    • +5 2

  22. UPDATE: The culprit behind the hack has allegedly been pointed out to 'Lazarus', a hacking group that has relations to North Korea.

     

    The wallet containing the stolen funds has also been pinpointed, labeled, and sanctioned, Some of the stolen funds has already been laundered, but the rest is now under close monitoring. Any wallets and/or exchanges willing to make transactions with this wallet address may face "punishments".

     

    It remains to be seen whether or not the funds inside the wallet will be recovered and returned to their rightful owners.

     

    Details on the news can be found here:

    https://www.coindesk.com/policy/2022/04/14/us-officials-tie-north-korean-hacker-group-to-axies-ronin-exploit/

     

    • +1 1

  23. Cryptocurrency Market Monthly Updates - Based on CFGI (March 12 - April 10, 2021)

     

    This month's opening saw the CFGI rating going at 50 neutral on April 1 and BTC on the way to breaking the $50,000 mark. Some analysts predicted that crypto prices will be going strong for the rest of the month, but things can go either way with neutral ratings. As others might have expected, crypto prices have slumped again with the CFGI ratings falling into the fear territory again and BTC holding on to $42,000 support.

     

    image.thumb.png.7040ab71d4802985a3fc6e05f68e6cd4.png

     

    The ongoing conflict in Eastern Europe may be partly to blame, but there are other factors as well. The U.S. Treasury Secretary's call for crypto to follow the same rules as other financial systems, and the U.S. Federal Reserve's announcement to raise interest rates, are just some of the factors.

     

    With still no bullish trend to expect for the rest of the month, traders and investors may just do the same strategies they've been doing for the past months while keeping a wary eye for any remote sign of upward price swings.

     

    Here's the top 10 crypto coins today from CoinMarketCap:

    Spoiler

    image.thumb.png.6a895723f7ff0fbc4c74232b17f2f91f.png

     

    (Updated with permission from the OP.)

     

    • +5 1

  24. On March 23, attackers were assumed to have managed to hack into the Ronin Network, the software Axie Infinity players use to store and receive their crypto and tokens. A total of $625 miliion of assets was reported to have been stolen from the network. This exploit was said to have gone unnoticed until a player reported that he can't transfer his own funds, which prompted an investigation that led to the discovery.

     

    Details of the hack has been available on the news only yesterday. One such article was posted on this link:

    Spoiler

    Hackers steal over $600 million from video game Axie Infinity's Ronin network

    By Jennifer Korn

     

    New York (CNN Business)The latest crypto hack has targeted a gaming-focused blockchain network that supports the popular video game Axie Infinity. Hackers made off with about $625 million worth of Ethereum and USDC, two cryptocurrencies, in one of the largest crypto hacks of all time.

     

    The hackers breached the Ronin Network, an independent and Ethereum-compatible blockchain developed by Axie Infinity publisher Sky Mavis. Axie Infinity co-founder Jeff Zirlin discussed the hack on stage during a keynote address at the NFT LA conference.
     
    "We realized the Ronin network has been exploited for 173,000 [Ethereum] and around 25 million dollars in USDC," Zirlin said, under a screen with the words "State of the NFT Union: Where we are today and what's next." USDC is a so-called stablecoin whose value is pegged to the US dollar.
     
    "It is one of the bigger hacks in history," he added, while vowing to continue building. "We believe in a future of the internet that is open and owned by the users."
    Last year, an anonymous hacker stole roughly $600 million in cryptocurrency from Poly Network, a decentralized finance network, in what was called the largest crypto heist in history. The hacker later gave it back.
     
    John Reed Stark, a former chief of the Security and Exchange Commission's Office of Internet Enforcement, told CNN the latest hack "is a sobering reminder of just how vulnerable Web3 marketplaces are to cyber attacks." (Web3 refers to the idea of a decentralized internet powered by the blockchain, the technology that underpins various cryptocurrencies.)
     
    "The entire web3 marketplace is so fraught with chaos and lawlessness, we may never learn the truth about what happened," said Stark. "And unlike U.S. financial firms who must report cyber-attacks fairly, accurately, promptly, etc., NFT and other Web3 marketplaces do not have to report anything at all."
     
    Axie Infinity is a successful web3 game in which players use NFT digital pets, called Axies, to interact with the game's community. Players can use their Axies to battle other players and to breed new Axies. In 2021, the game's creator raised $152 million in Series B funding led by famed VC fund Andreessen Horowitz.
     
    According to a blog posted to the Ronin network's official Substack on Tuesday, the system has halted activity on networks that allow players to convert assets in the Axie Infinity universe and to convert currency between the Ethereum and Ronin blockchains. Players who keep digital funds on the Ronin network are currently unable to make transactions.
     
    Beginning on March 23, attackers compromised private keys used to validate transactions on the network, according to the company blog post. These keys allowed the malicious actors to forge fake withdrawals. The activity went unnoticed until a user was unable to withdraw funds and filed a report.
    The network pledged to "ensure no users' funds are lost," according to the blog post. Most of the stolen funds currently remain in the hacker's crypto wallet, the company said.
     
    "We are working with law enforcement officials, forensic cryptographers, and our investors to make sure that all funds are recovered or reimbursed," the network tweeted.
    At the NFT LA conference, some attendees just learning about the hack were unperturbed by the news.
     
    "I don't think the coin is going down too bad," said Justin Seeley, who owns Axie Infinity NFTs and tokens, said, referring to Axie Infinity's Ronin token that was had plummeted 20% on the news of the hack.
     
    "Twenty percent ... that's not too bad. Other projects would be down way worse," added Ben Wright, who also says he is invested in Axie.
     
    "We're in crypto; 20% is nothing," said Seeley.
     
    Other NFT play-to-earn (P2E) games at the conference were surprised to learn the news
     
    "Axie got hacked!" two workers told each other in disbelief at a booth for Polker, a P2E poker game.
     
    "It worries me, but I like it," said Conor Thacker, Polker's managing director. "The more exploits that happen now, the less will happen in the future."
     

    CNN's Jon Sarlin contributed to this report.

    source: https://edition.cnn.com/2022/03/29/tech/axie-infinity-ronin-hack/index.html

     

    With a haul of $625 million, this hack can be considered as one of, if not THE, worst cybertheft on the crypto online gaming world. A lax security issue to ease network traffic was blamed for what happened. Current and future crypto games must now take steps to ensure that they won't become next in line.

     

    The hacker's wallet has been traced and found that most of the stolen funds is still being kept there, so there is still hope for it to be recovered. In the meantime, affected players are advised to post any transaction issues they might have to the company's support team.

     

    • +3 1

  25. UPDATE: That's strange, I can't find the crypto forum category in the list of winners at the event at blockchain-fest.com (link1, link2) but apparently the CryptoTalk forum won.

     

    There's a topic on the Russian section discussing about the end result, and there even was a small reward for select forum participants.

    (Can't read Russian? Google Translate is your friend.)

     

    Belated congratulations on the forum!

     

    So... when is the next nominations for the best crypto forum for this year going to come up?

     

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