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Cardano Founder Charles Hoskinson Says Quantum Threat to Crypto is Overhyped CoinCentral
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Cardano Founder Says Crypto’s Quantum Threat Is Overhyped Yahoo Finance
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Top Analyst Says Shiba Inu (SHIB) And Dogecoin (DOGE) Are Overhyped, Buy This Ethereum Token Instead For Better … Finbold – Finance in Bold
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In a riveting turn of events, despite Bitcoin’s super-dominance across the global crypto realm, pro-XRP lawyer Bill Morgan took to a post on X, slamming the world’s first digital currency. According to the post shared today, April 27, Morgan slated Bitcoin to be ‘overhyped,’ sparking a global fervor among crypto market participants.
Morgan’s critique of Bitcoin is not just a standalone comment, but a part of a complex narrative unfolding in the crypto sector. The ongoing legal tussle between Consensys and the U.S. SEC over the security status of ETH has been a hot topic. In this context, Morgan’s contrasting views on Bitcoin’s dominance and altcoins’ witnessing regulatory challenges in tandem flash a new layer of intrigue and complexity in the world of cryptos.
Morgan’s Scathing Critique of Bitcoin: What’s The Scoop?
Scoping in on the lawsuit Consensys filed, suing the SEC for considering ETH a security, Morgan captivatingly draws attention to Bitcoin. Notably, primarily due to Bitcoin’s creators’ identity being an enigma, the token continues to enjoy endless market advantages.
To this, Morgan justifies by adding, “simply because BTC creator/s is/are pseudonymous and the SEC can find no promoters of it even though the token is most marketed,” the digital asset enjoys substantially less scrutiny compared to other coins. Simultaneously, Morgan calls this phenomenon to be a distorted market, underscoring the complexity regulators present the cryptocurrency landscape with. Bitcoin, on the other hand, continues to advance with its cryptographic journey.
Yes, I do, because of the market and regulatory advantages it enjoys that do not arise from fundamentals or the technology but because the regulators can’t find a party to target. That is kind of a strength from a certain perspective but not the type of strength on which an…
— bill morgan (@Belisarius2020) April 27, 2024
Also Read: Former Federal Reserve Adviser Calls Out Trump Allies’ Fed Remodeling Plans
Consensys Vs U.S. SEC
Consensys recently sued the U.S. SEC, filing a lawsuit against the regulatory body to prevent it from deeming ETH a security. The Ethereum developer filed the lawsuit in the District Court for the Northern District of Texas on April 26, marking a notable stride against regulatory scrutiny surrounding cryptos.
However, Steven Nerayoff, ex-ETH advisor, claimed ETH to be a security yesterday, CoinGape Media reported. This has birthed further speculations among crypto market participants as the coexistence of these factors underscores the complexities and distortions within the crypto market. Moreover, as regulatory uncertainties intersect with the unique attributes of individual cryptocurrencies, the broader market dynamics transitions in unprecedented ways.
Also Read: DTCC Says ETFs With Bitcoin Exposure Will Have Zero Collateral Value for Loans
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Vladislav Sopov
Two developers employed AI bot ChatGPT to create dog-themed meme coin, here’s what happened
Joshua Baker, CEO of dAMM Finance DeFi protocol, shares the details of his experiments with AI-powered bot ChatGPT. Is it ready to build new generation of meme coins?
ChatGPT creates dog-themed memcoin AI Inu
Mr. Baker took to Twitter to demonstrate the first-ever cryptocurrency token with frontend entirely written by ChatGPT, the hottest AI bot trending in Q4, 2022.
Introducing AI INU, the first token and frontend entirely written by ChatGPT!
Myself and @hmsimha spent a few hours getting ChatGPT to build an AI dog memecoin (all code by ChatGPT, background image by DALLE).
You can check it out here: https://t.co/7kbRE1qpE2
(Repos below)
1/5— joshua (@JoshuaPaulBaker) December 13, 2022
According to him, ChatGPT has no problems taking OpenZepellin templates for ERC20 tokens on Ethereum (ETH) blockchain and creating an upgradable token contract.
Then, ChatGPT designed all elements of token logic required for normal Ethereum-based tokens to operate. Working with Web3.js, Eth.js libraries was the hardest task for the AI bot, but it eventually “figured it out,” dev says.
As of press time, AI Inu’s (AIINU) token liquidity is injected into a purpose-made pool on Uniswap (UNI) decentralized cryptocurrency exchange. The price of one token created by ChatGPT AI equals $0.0046.
ChatGPT beats most crypto founders, CZ says
To finish this eccentric experiment, developers asked ChatGPT about its plans for promotional and developmental roadmaps for the novel cryptocurrency.
The bot came up with a “terrifying” answer focused on building a solid brand, ruthless marketing campaign, engaging with the community and scoring a number of partnerships.
It is worth noting that, a week ago, Binance CEO Changpeng Zhao asked ChatGPT about the way it would run a centralized cryptocurrency exhcange.
This AI beats most of the crypto exchange founders.
pic.twitter.com/aEiz3tGPjX
— CZ
Binance (@cz_binance) December 6, 2022
CZ was excited by the bot’s answers and admitted that its vision is superior to that of most crypto projects’ founders, including Binance’s CZ himself.
Dogecoin (CRYPTO: DOGE) co-creator Billy Markus has applauded a Reddit poster for his comments that the “infinite inflation” arguments made against the meme cryptocurrency may be overblown.
What Happened: Markus took to Twitter to express his appreciation for the post on the Reddit forum “r/CryptoCurrency,” praising the Reddit user for his “research and math.”
See Also: How To Buy Dogecoin (DOGE)
It amuses me that, in order to fit in with the circle-jerk and give actual information and not be downvoted to oblivion, the author is forced to caveat everything with negative comments about DOGE whether or not they really believe them.
How to break into an echo chamber 101.
— Shibetoshi Nakamoto (@BillyM2k) August 27, 2021
The Reddit post by the user with the handle “u/JustDownInTheMines” noted that the percentage rate of Dogecoin created over the next few years will continuously decline since only a fixed number of 10,000 coins will always be added every minute.
Dogecoin will eventually drop to around 3% inflation in eight years and fall further, he added.
The user, u/JustDownInTheMines, said he wasn’t “not a fan” of Dogecoin and didn’t “recommend” it to people but that it’s important to “get every side of an argument.”
The Reddit user posed the question of whether the wider cryptocurrency community over-hypes the “infinite inflation argument” and whether Dogecoin’s token economics works for its use-case as a day-to-day transactions-enabler that competes with fiat currencies, rather than act as a store of wealth.
Why It Matters: Dogecoin often gets flake from within the cryptocurrency community over it being a high-inflation cryptocurrency, compared to a cryptocurrency like Bitcoin (CRYPTO: BTC), which is deflationary in nature.
However, Dogecoin’s supporters like Markus, Dallas Mavericks owner Mark Cuban and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk have defended Dogecoin’s infinite supply, saying it gives the cryptocurrency an advantage over Bitcoin and Ethereum (CRYPTO: ETH). They have also called for Dogecoin’s increased use in retail transactions.
In fact, the Shiba Inu-themed coin’s acceptance as a payment option by companies has gained momentum this year.
Kraft Heinz Co. (NASDAQ:KHC) subsidiary Oscar Mayer joined the companies capitalizing on the meme cryptocurrency’s popularity after its Dogecoin-themed hot dogs sold for $15,000 in an auction on eBay Inc. (NASDAQ:EBAY) earlier this month.
Price Action: Dogecoin is down 5.2% during the last 24 hours, trading at $0.2686 at press time.
Read Next: Dogecoin ‘Millionaire’ Plans To Go ‘All In’ On This Crypto Next
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