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Thursday, 2 June 2022

Solana Experienced Its Seventh Shutdown This Year


In the hit of the crypto space trying to recover from the recent bearish trend, Solana on the other hand has been from one outage to the other. Wednesday would total the seventh outage experience this year in the Solana network.

Data from Solana Beach show that Solana's block validators have not been able to create new blocks for over 6hours, causing an absolute shut down to all participants in the Solana network.

According to a recent official tweet from Solana status, it was explained that block production would be halted due to the bug that affected the presentation of real-time production on each block, causing the blocks to produce different results from input requests. And it was said restart from validator operations would get Solana back and running.
The Solana network which has braced itself by claiming to be a high-performance blockchain has in the past months created huge doubts for its users.

This outage has surged Solana's price down below $40, breaking the lowest support of $38.40 as of August 2021, and this makes it the second since the 1st of May 2022.

Instruction has been passed to validators to begin restart in MB-validator on Discord. The previous bug on May 1st was a 7hours shut down until validators did a restart on the network.

Solana has since the incident received a fair amount of lashes from users voicing their dissatisfaction with the numerous amount of outages in recent times, and a few pulling out their investments from the network, fearing their incompetency in keeping their investment safe and secure.

Wednesday, 1 June 2022

Russia Has Taken a Huge Step Closer to Making Cryptocurrency a Legal Tender With Its Recent Crypto Activities

Confronted with the strict Financial sanctions on Russia by the western economy, Russians' activities around the crypto space have greatly increased.

On 26 February 2022, the Central Bank of Russia was blocked from accessing more than $400 billion in foreign-exchange reserves held abroad and the EU imposed sanctions on several Russian oligarchs and politicians following the Russian invasion of Ukraine, as reported by Wikipedia.

Due to these strict financial sanctions, Russia was forced to use cryptocurrency as means for cross-border transactions to bypass sanctions.

Most recent activities in the crypto space have shown a huge possibility for Russia to soon make cryptocurrency a legal tender as a report said that a closed meeting was held by the Central bank of Russia, specific Russian ministers, brokers, the Saint Petersburg Stock Exchange and Information system operators concerning adding cryptocurrency to exchange listing. This action aim is for effortless intercountry exchange with the aid of a cryptocurrency exchange system in the financial sector. This means that the Central bank of Russia has come to terms with the acceptance of cryptocurrency into the country's financial system.

In alliance with the adoption, crypto mining has been legalized in Russia, and businesses have been registered to that effect.

The world in Russia is getting closer to crypto adoption. The question is, how soon would this happen?

China's Scientists Finds Elon Musk's Starlink Satelite a Threat to China's Security


Chinese scientists see a threat in Elon Musk's Starlink low orbit Satellites and make plans to destroy them if it threatens China's National Security.

The acclaimed civilian program to provide fast internet has been reported to have had a series of military activities, according to PRC Defense by David Cowhig.

According to the report, the researchers were in particular concerned about the military capabilities of the Starlink Satelite constellation. Researchers believe it could be used to track hypersonic missiles; dramatically boost the data transmission speeds of U.S. drones and stealth fighter jets, or even ram into and destroy Chinese satellites.

A report already shows that Starlink Satelite has been used for military purposes during the Russia and Ukraine war, as a tweet and reply between Ukrainian's Vice Prime Minister Mykhailo Fedorov and SpaceX founder Elon Musk implies.
It is supposed that a combination of soft kill and hard kill should be able to take down Starlink when the need comes for it. A soft kill is a measure taken by jamming the satellite or using a laser weapon, while a had kill is to physically destroy with weapons such as a missile. ill including jamming and laser weapons. 

China already has multiple methods for disabling satellites. These include microwave jammers But the researchers say that these measures, which are effective against individual satellites, won't be enough to scuttle Starlink.


What is far more worrisome is the fact that China already in the past have several effective methods to kill satellites. These methods include "microwave jammers that can disrupt communications or fry electrical components; powerful, millimetre-resolution lasers that can nab high-resolution images and blind satellite sensors; cyber-weapons to hack into satellite networks, and long-range anti-satellite (ASAT) include to destroy them." According to the U.S Department of Defense. But it is believed that none of this would be able to kill Starlink, as a report shows that it constitutes the decentralized system (blockchain technology), making it near impossible for China to hack into the system, according to Chinese Researchers.

At this point, Chinese Researchers are looking for a manoeuvre to kill the Starlink Satellite when the need arises.

Monday, 30 May 2022

Nigeria's Presidential Candidate, Bukola Saraki, Pledges His Support to Digital Currency


The presidential candidate, Bukola Saraki of the People's Democratic Party of Nigeria in an interview voiced his support for Digital currency and thinks the adoption of digital currency in Nigeria could be of huge benefit to the country's economy.

According to the former Senate President of Nigeria, Bukola Saraki, the digital currency has greatly provided opportunities for youths (jobs opportunities) as he said, ”I also think it has helped especially the young generation in creating jobs and opportunities. And anything that creates jobs and an enabling environment for people to do their businesses, I am in support of that. So, yes, I am in support of that...” but he also emphasized the need for regulations on the space to prevent illegal activities such as money laundering and other criminal activities that could be done in the space.

The Unending Rise in Crypto Trading in Nigeria

According to reports, the Nigerian central bank has since February 5, 2021, place a ban on cryptocurrency transactions and restriction was given to financial institutions and financial private sectors from authorizing crypto transactions in the country. And to this effect a fee was passed into law against the act of crypto trading to any financial institute, hence, forcing all financial sectors in Nigeria to shut down all angles of crypto trading.

Nevertheless, this hasn't in any way reduced the trading activities of cryptocurrency to wanned off, but instead, a report has proven that the number of users participating in crypto trading has increased above 2,400% from January 2021 to January 2022 according to Punch Nigeria. While techpoint survey states that over 70 million Nigerians have traded cryptocurrency in the last six months while still ranked as the top crypto trading country in Africa.

Due to the ban, users have resulted in peer-to-peer transactions through trading platforms such as Paxful and Binance exchange, and roughly a trading volume of over $400 million

Meanwhile, in the interview, Saraki believes that regulating the space is what is needed to accommodate adoption in Nigeria rather than the ban placed by CBN.

Saturday, 28 May 2022

Thia's Big Bank, Siam Commercial Bank Announces It's Intension to Hugely Invest in DeFi


The venture capital arm of Thailand’s oldest bank, Siam Commercial, announces reinvesting into DeFi, according to a report on Bloomberg

Global Cryptocurrency Bloodbath
It is not news that there has been a bloodbath in the Crypto space with over 50% crash of general crypto price by market cap as the GC/USD Chart on Coinmarket Cap showcases a drop in global crypto price from $2.7 Trillion as of the 16th of November 2021 to $1.2 Trillion today's price. The total value locked (TVL) has more than halved from $252 billion earlier this year to $93 billion yesterday. GMT dropped 37% in 24hrs and Altcoins such as Solana, Avalanche and Polkadot prices crashed as huge as 20%, terra was not left out as it lost over 90% in the general sea of red in the space from $119 to $0.0001 which is next to nothing. It has been all red in the space.


Not regarding any of these factors, the oldest bank in Thailand, Siam Commercial (SCB) reveals the intention to invest hugely in the crypto space.

It was reported by Bloomberg that SCB has previously sustained losses in the space as it was revealed that an undisclosed amount was invested to Compound Treasury which offers a 4% return on deposits. This investment took place a few weeks after the price crash in Terra Network. For this, 
Mukaya Panich, who is the Chief Investment Officer of SCB 10X, sees the possibility that the alliance between both companies and the tight regulations that would be enforced on DeFi would bring about a bullish trend in the space, as Panich said that the crash is likely to invite tighter regulations over DeFi, making the space more palatable for institutional traders. He also disclosed in one of his tweets.
The idea is that Siam Commercial Bank will develop risk monitoring tools that will help to track parameters on Compound in a similar manner to a bank.  Through Compound, it will also explore incorporating DeFi yield generating products into Siam Commercial’s products.

Despite growing crypto adoption, most major trading houses are still hesitant towards DeFi. A lack of regulation over the space, coupled with the need to directly hold crypto are likely the two major factors influencing this.

But with the advent of products such as Compound’s treasuries, this trend could change.

Monday, 28 February 2022

Technical Analysis VS Fundamental Analysis Episode 1

A lot of opinions have gone around on this subject and the contemplation on which is best for accurate and profitable analysis.


Before you can properly understand which is better, you need to first understand the concept of both analyses.


Let's dive into it 🤗

In the financial market, technical analysis is a strategic and analytical evaluation or prediction of the future price movement through the study of past market prices on the market chart.


The best way to define this is for you to know that in technical analysis, you discern the behavior of a market price through the data provided on a market chart when paired with appropriate investing or trading rules.

Facts About Technical Analysis

  • Technical analysis is In most cases used to generate short term signals.

  • Technical analysis is far more prevalent in commodities and forex markets.

  • Technical analysis can be used alone or it can be incorporated with other methods such as fundamental analysis or market timing methods.

  • Technical analysis helps you keep your emotions in check.

Friday, 25 February 2022

Russia Looking to Bypass US Strict Sanctions With Cryptocurrency.


The possibility of Russia bypassing the US and EU sanctions with cryptocurrency is imminent as the two largest banks of Russia have been restricted from the global economy and blocked from undertaking or performing transactions to aid the ongoing assault on Ukraine.


The President of the United States of America, Joe Biden, on Thursday, announced "strong sanctions" on Russia in response to the Russian invasion of Ukraine. The aim was to limit Russia's transactions with Dollars and other major currencies in the world.


The possibility of this is eminent as no restriction was placed on cryptocurrency transactions. Not to forget that this tactic was used by Ukraine as their financial accounts were restricted from receiving cross border donations. 


A report revealed that Ukraine's NGOs and Volunteer groups received over $500,000 donations through cryptocurrency, bypassing the restrictions placed on the various accounts of supporting NGOs and Volunteer groups.


So, therefore, Russia could as well result into using crypto to bypass strict sanctions placed by US and EU governments.


Thursday, 24 February 2022

Ethereum Developer, Vitalik Buterin Reacts to Russia's Invasion in Ukraine

The developer of Ethereum, Vitalik Buterin in his tweet grieved over Russia's president, Vladimir Putin's decision for a war against Ukraine.


At around 4 am on Thursday, Russia born Ethereum developer, Vitalik Buterin posted on his Twitter his pain towards Vladimir Putin's decision to invade Ukraine.


According to one of his tweets, Vitalik Buterin clearly stated that "ethereum is neutral about this, but I am not", making it clear that he is not in support of his president's decision.


He further stated that


Vitalik Buterin is the first to speak up over this tension and chaos between Russia and Ukraine amongst all other cryptocurrency developers.


As the world seems to be in a dilemma over the situation and Vitalik Buterin wouldn't hold his grievance any longer.

Where Would This Declaration Lead Ethereum?

As much as Vitalik Buterin is trying to leave Ethereum out of this, it is as involved in this just as much as he is. Since he is the major influence on the currency.


What would be investors' response to this? Would this be a surge or a drop in value for the altcoin? All these are the questions in the mind of everyone as we patiently wait on the outcome of this tweet.


The war has already affected the cryptocurrency world drastically as it has dropped 11% after Russia initiated a war on Ukraine. Should we fear that this may cause the blow to hit more heavily on Ethereum (ETH)? Well, we can only wait to see.

The Geographical Surge in Tension Between Ukraine and Rusia Causing a Huge Tide in The Crypto World

Statistics has it that in just one night cryptocurrencies' value dropped by 11% due to the Ukraine and Russia war. 


The blame for the tragic drop in the value of the currency is blamed on the war because of the role the currency played during the Ukrainian's preparation for the Russian invasion.

The cryptocurrency was sought to be made a legal tender in Ukraine since it was the only means to get funding support to equip troops as fiat currency's accounts were put to a halt from receiving cross border donations.

Investors See The Surge as an Opportunity to Plunge Into Crypto Investment.
The 11% fall on cryptocurrencies' value didn't seem to threaten investors to pull out investment, rather, investors are seeing this as an opportunity to immerse massive profit from the situation.

According to tweets from several bitcoin investors, they are not willing to sell-off because of the war in place which has made a huge impact on the currency.


Tuesday, 22 February 2022

A Whole New World in Metaverse

A new world is gradually emerging in metaverse, ranging from companies, businesses, cities and homes.

Just recently, a report reached us of a church in metaverse as Garrett Bernal trapped on a virtual reality headset and explored what it would be like to worship in the metaverse.

"I couldn't have had such an immersive church experience sitting in my pew. I was able to see the scriptures in a new way," said Garrett Bernal, expressing his church experience in metaverse.

And now Manchester City has started construction for the first football stadium in metaverse. The new Premier League Champion has decided to bring their home stadium in Etihad to metaverse.
The team announced their three years partnership with Sony technology on Friday to develop a virtual Etihad Manchester City stadium in metaverse. This new development would be the first to be seen in the metaverse.

A World in Metaverse.

The world around metaverse is on constant growth, as everything seems to be going digital, even the world as a planet is also going digital with the existence of the metaverse.

The main aim is to have a digital duplicate of every existing thing on earth in the metaverse, and this seems to be coming to reality faster than expected. Soon enough, earth would exist in exact in metaverse.

Support and Resistance Level

 

 The concepts of trading support and resistance levels are undoubtedly two of the most highly discussed attributes of technical analysis. As part of analyzing chart patterns, these terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction.


At first, the explanation and idea behind identifying these levels seem easy, but as you'll find out, support and resistance can come in various forms, and the concept is more difficult to master than it first appears.


Support occurs where a downtrend is expected to pause due to a concentration of demand.


Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply.

Thursday, 16 September 2021

Asian nation Laos to legalize Bitcoin mining and trading

The Southeast Asian nation of Laos changed its official policy, authorizing six companies to trade and mine Bitcoin while the government begins to draft regulations about its use.

Who know, this could be one of the few steps to making bitcoin a national legal currency just as El Salvador.

Bitcoin Price Prediction - failure to hit $48,500 would give the bears control

It’s been a mixed morning for Bitcoin and the broader crypto market. A Bitcoin move back through to $48,500 levels would be needed to support a breakout afternoon…

Tuesday, 14 September 2021

Cryptocurrency still emerges upward even after the exposed truth acted by Litecoin official tweet

• Cryptocurrencies mostly higher


Cryptocurrencies were trading mostly higher in a quieter day after the volatility seen on Monday, prompted by the fake Walmart (NYSE:WMT)/Litecoin press release.

Bitcoin rebounded back above $46,000 and Ethereum also traded higher amid little news.

“From a technical perspective, little has changed on the Bitcoin front,” writes OANDA Senior Market Analysts Craig Erlam. “A significant break of $44,000 could see a sizeable correction follow, one that has been building for a number of weeks.”

US consumer prices increase

• US consumer prices increase by less than forecast


In the US, focus was on CPI which increased at a below forecast 0.3% in August, according to the Labor Department. The lower than expected CPI figures come ahead of next week’s Fed meeting and the chances of tapering to begin next week now seem very unlikely.

GBP/USD was higher in the wake of the two data releases with the pair trading above 1.39 for the first time since 6th August. EUR/GBP dropped to a three-week low following the UK data.

UK labour market recovery continues

• UK labour market recovery continues


On the data front, focus in the UK was on the latest labour market report for signs that the recovery is continuing. The Office for National Statistics (ONS) said that employee numbers returned to pre-Covid levels in August as 241,000 payrolled jobs were added. Vacancies hit a record high above 1 million. 

“Beyond the near term, the sharp rise in the level of vacancies suggests a likelihood of sustained increases in employment in the coming months,” said analysts at Lloyds (LON:LLOY) bank in an emailed note. “The strong pick up in demand for labour corroborates evidence from a number of survey reports […] which show that hiring activity has held firm throughout the summer months.”

JD Sports: The demand for trainers and the trend for athleisure wear shows little sign of going out of fashion

• JD Sports rallies

JD Sports (LON:JD) shares rallied after the sports and leisurewear retailer reported record first half profit. The company now forecasts full year profit before tax of at least £750 million.

“Demand for trainers and the trend for athleisure wear shows little sign of going out of fashion,” writes Hargreaves Lansdown (LON:HRGV) Senior Investment and Markets Analyst Susannah Streeter. “The sports leisure market in the US is huge and here JD Sports is stepping up the pace of sales, which will be key to future growth prospects.”

MARKET WRAP. FTSE falls

FTSE 100 closing price of 7,035.4, -0.5%

• Miners weigh on FTSE

By Samuel Indyk


The FTSE 100 declined on Tuesday as a number of mining shares weighed on the blue-chip index following a note from Barclays (LON:BARC) on the sector.

Rio Tinto (LON:RIO), Anglo American (LON:AAL) and BHP Group (LON:BHPB) all had their price targets cut as Barclays downgraded the European mining sector to neutral on China’s rapid steel production cuts. However, Glencore (LON:GLEN) was maintained at overweight with Barclays analysts saying they had an attractive valuation.

Monday, 13 September 2021

A horrifying new AI app swaps women into porn videos with a click

Deepfake researchers have long feared the day this would arrive.

 

The website is eye-catching for its simplicity. Against a white backdrop, a giant blue button invites visitors to upload a picture of a face. Below the button, four AI-generated faces allow you to test the service. Above it, the tag line boldly proclaims the purpose: turn anyone into a porn star by using deepfake technology to swap the person’s face into an adult video. All it requires is the picture and the push of a button.

MIT Technology Review has chosen not to name the service, which we will call Y, or use any direct quotes and screenshots of its contents, to avoid driving traffic to the site. It was discovered and brought to our attention by deepfake researcher Henry Ajder, who has been tracking the evolution and rise of synthetic media online


For now, Y exists in relative obscurity, with a small user base actively giving the creator development feedback in online forums. But researchers have feared that an app like this would emerge, breaching an ethical line no other service has crossed before.

From the beginning, deepfakes, or AI-generated synthetic media, have primarily been used to create pornographic representations of women, who often find this psychologically devastating. The original Reddit creator who popularized the technology face-swapped female celebrities’ faces into porn videos. To this day, the research company Sensity AI estimates, between 90% and 95% of all online deepfake videos are nonconsensual porn, and around 90% of those feature women.

As the technology has advanced, numerous easy-to-use no-code tools have also emerged, allowing users to “strip” the clothes off female bodies in images. Many of these services have since been forced offline, but the code still exists in open-source repositories and has continued to resurface in new forms. The latest such site received over 6.7 million visits in August, according to the researcher Genevieve Oh, who discovered it. It has yet to be taken offline.

There have been other single-photo face-swapping apps, like ZAO or ReFace, that place users into selected scenes from mainstream movies or pop videos. But as the first dedicated pornographic face-swapping app, Y takes this to a new level. It’s “tailor-made” to create pornographic images of people without their consent, says Adam Dodge, the founder of EndTAB, a nonprofit that educates people about technology-enabled abuse. This makes it easier for the creators to improve the technology for this specific use case and entices people who otherwise wouldn’t have thought about creating deepfake porn. “Anytime you specialize like that, it creates a new corner of the internet that will draw in new users,” Dodge says.

Y is incredibly easy to use. Once a user uploads a photo of a face, the site opens up a library of porn videos. The vast majority feature women, though a small handful also feature men, mostly in gay porn. A user can then select any video to generate a preview of the face-swapped result within seconds—and pay to download the full version.

The results are far from perfect. Many of the face swaps are obviously fake, with the faces shimmering and distorting as they turn different angles. But to a casual observer, some are subtle enough to pass, and the trajectory of deepfakes has already shown how quickly they can become indistinguishable from reality. Some experts argue that the quality of the deepfake also doesn’t really matter because the psychological toll on victims can be the same either way. And many members of the public remain unaware that such technology exists, so even low-quality face swaps can be capable of fooling people.

To this day, I’ve never been successful fully in getting any of the images taken down. Forever, that will be out there. No matter what I do.Noelle Martin, an Australian activist

Y bills itself as a safe and responsible tool for exploring sexual fantasies. The language on the site encourages users to upload their own face. But nothing prevents them from uploading other people’s faces, and comments on online forums suggest that users have already been doing just that.

The consequences for women and girls targeted by such activity can be crushing. At a psychological level, these videos can feel as violating as revenge porn—real intimate videos filmed or released without consent. “This kind of abuse—where people misrepresent your identity, name, reputation, and alter it in such violating ways—shatters you to the core,” says Noelle Martin, an Australian activist who has been targeted by a deepfake porn campaign.

And the repercussions can stay with victims for life. The images and videos are difficult to remove from the internet, and new material can be created at any time. “It affects your interpersonal relations; it affects you with getting jobs. Every single job interview you ever go for, this might be brought up. Potential romantic relationships,” Martin says. “To this day, I’ve never been successful fully in getting any of the images taken down. Forever, that will be out there. No matter what I do.”

Sometimes it’s even more complicated than revenge porn. Because the content is not real, women can doubt whether they deserve to feel traumatized and whether they should report it, says Dodge. “If somebody is wrestling with whether they’re even really a victim, it impairs their ability to recover,” he says.

Nonconsensual deepfake porn can also have economic and career impacts. Rana Ayyub, an Indian journalist who became a victim of a deepfake porn campaign, received such intense online harassment in its aftermath that she had to minimize her online presence and thus the public profile required to do her work. Helen Mort, a UK-based poet and broadcaster who previously shared her story with MIT Technology Review, said she felt pressure to do the same after discovering that photos of her had been stolen from private social media accounts to create fake nudes.

The Revenge Porn Helpline funded by the UK government recently received a case from a teacher who lost her job after deepfake pornographic images of her were circulated on social media and brought to her school’s attention, says Sophie Mortimer, who manages the service. “It’s getting worse, not better,” Dodge says. “More women are being targeted this way.”

Y’s option to create deepfake gay porn, though limited, poses an additional threat to men in countries where homosexuality is criminalized, says Ajder. This is the case in 71 jurisdictions globally, 11 of which punish the offense by death.

Ajder, who has discovered numerous deepfake porn apps in the last few years, says he has attempted to contact Y’s hosting service and force it offline. But he’s pessimistic about preventing similar tools from being created. Already, another site has popped up that seems to be attempting the same thing. He thinks banning such content from social media platforms, and perhaps even making their creation or consumption illegal, would prove a more sustainable solution. “That means that these websites are treated in the same way as dark web material,” he says. “Even if it gets driven underground, at least it puts that out of the eyes of everyday people.”

Y did not respond to multiple requests for comment at the press email listed on its site. The registration information associated with the domain is also blocked by the privacy service Withheld for Privacy. On August 17, after MIT Technology Review made a third attempt to reach the creator, the site put up a notice on its homepage saying it’s no longer available to new users. As of September 12, the notice was still there.

Walmart confirms Litecoin story is fake, Litcoin pumps and dumps

By Samuel Indyk
Sep 13, 2021.
14:42
                        

The price of Litecoin jumped 25% on Monday before quickly paring gains and turning negative after reports that Walmart (NYSE:WMT) may begin accepting Litecoin as payment on its e-commerce website turned out to be fake.

A press release on GlobeNewswire, a usually reputable source for company news, stated that Walmart would begin accepting Litecoin from October 1st on its e-commerce website.

A spokesperson for Walmart confirmed the Litecoin story was fake, according to CNBC.

Litecoin’s official Twitter (NYSE:TWTR) handle tweeted the news, but the tweet was swiftly deleted, leading to speculation that GlobeNewswire may have been tricked into publishing a fake press release.

The Press release 

The press release announced that Walmart had signed a “major” partnership with Litecoin, where it intends to give its shoppers an opportunity to make payments with cryptocurrencies on its e-commerce store.

The price of Litecoin initially surged following the announcement. The cryptocurrency jumped 25% to a high of $233.81 before paring gains and turning negative on the day.

Solana Experienced Its Seventh Shutdown This Year

In the hit of the crypto space trying to recover from the recent bearish trend, Solana on the other hand has been from one outag...