MAJOR glitches on CoinMarketCap and CoinBase meant that the wrong Bitcoin, Shiba Inu, and Ethereum values were displayed on Tuesday and Wednesday.
A glitch incorrectly displayed cryptocurrency trading prices on CoinMarketCap and was fixed after nearly an hour, CoinDesk reported.
The price of Bitcoin, for instance, was reportedly down 99 percent on CoinMarketCap and a bug on the site displayed the prices of all cryptocurrencies incorrectly early Wednesday, likely including other popular tokens like Shiba Inu and Ethereum.
Meanwhile, Coinbase noted on Twitter on Tuesday that some people were “seeing inflated values for non-tradable crypto assets on Coinbase.com and Coinbase Wallet,” but noted the issue was resolved the same day.
Musk is also celebrating being named TIME Magazine’s Person of the Year for 2021.
Musk has previously backed Shiba Inu coin, as well as a number of other crypto tokens, including DogeCoin.
Read our cryptocurrency live blog for the very latest news and updates…
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‘Unvaxxed Sperm’ coin launched
The new coin was launched by activists who claim Covid-19 vaccines affect fertility.
One of the coin’s developers who referred to himself only as ‘Fauci’ – told VICE: “To a degree, I’d say we are anti-vaccine.”
However, another developer claimed they were not anti-vax, telling the platform that they were “here to ensure the continuity of objective scientific inquiry.”
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Bitcoin milestone, part two
Bitcoin was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto.
Data from Blockchain.com on Monday showed 18.9 million of the 20,999,999,9769 possible Bitcoins had been mined.
It’s a milestone that took 12 years to reach.
Experts believe the last Bitcoin will be mined in February 2140.
One Bitcoin is currently worth around $47,000.
Value could shoot up as the coins become more scarce, experts said.
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Less than 10 percent of Bitcoin left to mine
There is less than 10 percent of Bitcoin left to mine as the cryptocurrency passed a major milestone on Monday.
Data from Blockchain.com showed 18.9 million out of a possible 21 million of the virtual coins have been mined.
Bitcoin is the world’s first entirely virtual currency and new currency is created by mining, a complex online process that uses computer code.
It involves using a computer to solve a mathematical problem with a 64-digit solution to create new coins.
For each problem solved, one block of Bitcoin is processed. The miner that is first to solve the problem is rewarded with a new Bitcoin.
These new coins are then stored virtually through an online database called the blockchain.
The maximum amount of Bitcoin that can ever exist is 21 million.
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Sending cryptocurrency on WhatsApp
WhatsApp, a popular messaging app, is testing a cryptocurrency payment feature for some users in the US.
Meta, formerly known as Facebook, owns WhatsApp and is letting some users send and receive Pax Dollars.
Pax currency is deemed a “stablecoin” because it’s connected to the US dollar.
The feature is powered by Novi, Meta’s digital wallet.
According to Novi, making payments will be easy, like sending other kinds of attachments in WhatsApp.
There’s no word on when the cryptocurrency payment feature might roll out to more users and countries.
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Play-to-earn gaming, part two
The new play-to-earn gaming model that rewards gamers with cryptocurrency for playing isn’t technically free.
Gamers could have to spend $1,000 or more in order to start earning in the Axie Infinity universe, according to Forbes.
The popular platform for play-to-earn gaming requires beginners to have three “Axies,” which are available for purchase on the game’s Marketplace Dashboard.
Participants can then earn cryptocurrency for selling potions, breeding rare Axies, and playing various games.
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What is play-to-earn gaming?
A unique model called play-to-earn gaming is driving non-fungible token (NFT) and cryptocurrency growth, Forbes reported.
Axie Infinity is the most popular platform for play-to-earn gaming at the moment.
It allows users to build a collection of “Axies” that players can use across its universe of games.
The company then uses Blockchain to reward players for gaming, according to Forbes.
Any digital assets earned by participants can be sold on the platform or traded outside Axie Infinity’s universe.
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Goxx’s creators
Speaking to the BBC, the two 30-something German men behind Mr Goxx the crypto-trading hamster 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.”
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RIP Mr Goxx: ‘He fell asleep peacefully’
“Mr. Goxx showed no signs of serious illness, besides having some kidney issues as a cause of a professional mite treatment in his early days,” the sad announcement continued.
“While having normal amounts of food until Sunday, he then suddenly refused eating and fell asleep peacefully on Monday morning.”
“For us humans behind Goxx Capital, the situation is hard to grasp and questions about a possible continuance of the project are not relevant to us at the moment (for now, we will leave everything as is),” the statement added.
“Thank you and rest in peace, Max (a.k.a Mr. Goxx). You will be missed, and your memory will live forever on the blockchain.”
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RIP Mr Goxx, the crypto-trading hamster
Sadly, Mr Goxx, the crypto-trading hamster, passed away on November 23.
The tragic news was shared on Mr Goxx’s official Twitter account.
“We feared this day like no other and are truly shocked for it to happen just now,” Mr Goxx’s Twitter account tweeted on Wednesday.
“In deep sorrow, we have to announce the loss of our beloved furry friend.”
The account continued: “Being with us as a pet for quite a while, he became famous out of nowhere. Mr. Goxx has brought joy to people all across the globe and reminded us not to take life too seriously.
“He shed light into dark moments of pandemic, inflation and many kinds of trouble.”
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What is a crypto ‘fan token’?
Fan tokens are a cryptocurrency that is sweeping the football landscape.
They’ve been launched or are under consideration by 24 football clubs across the five major European leagues, according to BBC News.
Some involve real-world perks for the buyer, like a say in which slogans appear on a trophy or what song should be played for a team’s entrance.
Critics say the benefits are insignificant, and the value of fan tokens rises and falls based on supply and demand.
Arsenal, Barcelona, Juventus, Inter Milan, Real Madrid, Manchester City and PSG have all jumped on the craze.
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German banks consider offering cryptocurrency wallet
Germany’s biggest financial group is considering offering its customers a wallet to trade cryptocurrency.
The German Savings Banks Association holds the savings and investments of 50 million customers, Reuters reported.
The financial group said interest in crypto assets “is huge” in response to reports of a possible pilot project.
No decision has been made, according to Reuters.
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Elon Musk says Dogecoin is best for transactions
The CEO of Tesla and SpaceX says Dogecoin is the best cryptocurrency for transactions.
Elon Musk told Time Magazine that the meme coin is better suited to transact with over Bitcoin for two reasons.
He said the transaction volume of Bitcoin is low and the cost per transaction is high.
Musk said he believes Bitcoin is more suitable as a store of value while Dogecoin “encourages people to spend, rather than sort of hoard.”
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NFT sold way under intended price
The owner of a Bored Ape non-fungible token (NFT) accidentally sold the virtual art for $3,000 instead of $300,000.
The digital art, one of Bored Ape Yacht Club’s 10,000 limited editions, was initially purchased by an automated account that instantly put it back up for sale for nearly $250,000.
The seller told CNet that he meant to list the price at 75 Ethereum (ETH), the preferred cryptocurrency for making NFT transactions.
After making many online trades that day, he said he suffered from a “lapse of concentration” which caused him to type in “0.75 ETH.”
“I instantly saw the error as my finger clicked the mouse but… it was instantly sniped before I could click ‘Cancel’ – and just like that, $250,000 was gone,” he said.
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Donating with cryptocurrency
Churches are starting to see more donations made using cryptocurrency, according to Christianity Today.
James Lawrence told the news organization that donations made on his platform Engiven using the virtual currency were slow in 2019 and 2020.
By fall of 2021, the platform had processed cryptocurrency donations for more than 700 nonprofits.
The list of recipients includes well-known organizations like The Salvation Army and Ronald McDonald House Charities.
Up to 400 recipients were churches, Lawrence said, as more congregations move to accept the digital currency.
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What are Shiboshi NFTs?
Shiboshi NFTs are non-fungible tokens representing various “lovable creatures.”
The NFT holders will also be able to name the Shiboshis for an additional $100.
The Shiboshis will come with generic names like 00001.
The post states: “It’s important to name your Shiboshi because names are unique and can only exist once in the Shib Oshiverse.
“With the expansions, we are planning, this could potentially make your Shiboshi more valuable.”
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What are Altcoins, continued
Simon Peters, crypto-asset analyst at eToro, said: “They build on the success of bitcoin by slightly changing the rules, economics or use cases to appeal to different users.”
“Altcoins vary greatly in their use cases and practical application. They typically have a form of technology they underpin or provide a liquidity solution to a product or service.”
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What are Altcoins?
Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions.
Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.
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Crypto wealth and luxury goods
Cryptocurrency wealth is leading to a new generation of luxury consumers in the United States, according to Markets Insider.
The news organization pointed to a report from investment bank Jeffries, which found young buyers are spending crypto winnings on expensive jewelry, apparel, and accessories.
The group, comprised of people under 35, is increasingly buying artwork such as non-fungible tokens (NFTs), in addition to luxury brands.
While Chinese consumers are still the major force in luxury spending worldwide, the report said American buyers are set to propel luxury sales beyond pre-pandemic levels.
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How to check for blockchain scams
Cryptocurrencies operate on blockchain networks.
Scammers often claim their blockchain is “in development” or “about to be released,” but all legitimate cryptos will have an accompanying website to verify the currency.
Users can type the name of the crypto into any search engine with the phrase “blockchain explorer” or “blockchain scan” to find the connected blockchain, if it exists.
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Fake websites and crypto
One fairly widespread scamming technique involves websites that appear to be a new cryptocurrency mining operation or investment opportunity.
The sites encourage investors to wire in money, sometimes offering investment “tiers” and promising greater returns.
But when users attempt to withdraw their cash, they are unable to and told to input even more cryptocurrency.
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Crypto scams and dating apps
Some cryptocurrency scam operations have started using dating apps to reel in potential targets.
In some reports, scammers pose as a long-distance love interest sharing a hot new cryptocurrency opportunity.
About 20 percent of the money lost through dating scams in the last year reportedly involved cryptocurrency.
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What is Ethereum?
Ethereum is a cryptocurrency that was released in 2015. It’s the second largest after Bitcoin.
In fact, some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market.
It was founded by eight people, one of which is 27-year-old cryptocurrency “celebrity” Vitalik Buterin.
He recently became the world’s youngest crypto billionaire as Ethereum soared in value.
Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programs.
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UK regulator bans seven crypto ads, part two
The Advertising Standards Authority reportedly is hoping to produce new guidance on cryptocurrency.
Monitoring crypto assets is a “red-alert priority” for the regulatory agency, BBC News reported.
The news outlet said the companies with ads found to have broken the rules were:
- Coinburp: A Twitter page for the cryptocurrency trading platform
- eToro (UK): A paid ad for the stocks and cryptocurrency trading platform
- Payward: A digital poster for Kraken, an online cryptocurrency exchange
- Exmo Exchange: A YouTube video promoting the cryptocurrency exchange
- Luno Money: An in-app ad for the cryptocurrency exchange service Luno
- Coinbase Europe: A paid Facebook ad for the cryptocurrency exchange platform
- Papa John’s GB: A promotion on the Papa John’s pizza restaurant chain’s website and in a Twitter post
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UK regulator bans seven crypto ads
The United Kingdom’s Advertising Standards Authority (ASA) banned seven cryptocurrency advertisements following concerns.
BBC News reported one banned ad included a promotion by a pizza chain while a second involved Facebook ads for a big cryptocurrency exchange.
All seven ads were “banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment”, the news organization reported.
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What is Dogecoin and why is the price going up?
Dogecoin has been considered by many to be a “joke” cryptocurrency, but interest in the coin has recently boomed.
The crypto coin was launched in 2013. It took a significant dip earlier this year, at one stage hitting below $0.2.
In May this year, Dogecoin reached its highest value yet of more than $0.7, according to crypto data firm CoinMarketCap.
