SHIBA Inu is down today but Bitcoin is up after President Biden’s statement drawing attention to potential pitfalls of the currency such as ransomware and other cyber threats.
The statement from Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.
“That’s why my administration is marshalling a whole-of-nation effort to confront cyber threats.”
The White House also signaled that the US will gather 30 other countries, including NATO and G7 allies, to discuss responses to cybercrime.
“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.
Federal Reserve chair Jerome Powell also announced that there are no plans to ban cryptocurrency in the US, and prices soared 10 percent.
Read our cryptocurrency live blog for the latest news and updates…
ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN
“Thanks to Reddit’s r/Ethereum community, I’ve had the privilege of following Vitalik Buterin’s career from early on, which is why I’ve taken a certain pride in watching his legacy grow,” Ohanian wrote of the programmer.
“Sure, we can talk about the value he’s created as the platform’s co-founder, including Ethereum’s impressive market cap of around $400 billion, the dazzling world of decentralized apps and this year’s boom in the trading of NFTs.”
“What makes Vitalik so special, though, is that he is a builder’s builder.”
CRYPTO-TRADING HAMSTER, CONTINUED
The four-legged financial fiend is not completing transactions himself, of course.
Instead, Goxx’s trading decisions are made inside a camera-rigged “office” attached to his regular cage.
Every day, when he enters the office, a stream is started on Twitch and a tweet is sent out to his followers notifying them that trading has begun.
The hamster then runs on an “intention wheel” that chooses one of 30 different cryptocurrencies to trade.
A CRYPTO-TRADING HAMSTER OUTPERFORMS MARKET
A hamster in Germany is trading in cryptocurrencies and has consistently been outperforming the S&P 500.
The furry animal, called Mr Goxx, has been busy working since June, thanks to a specially adapted cage.
He determines which currencies to buy or sell by running on his wheel or walking through one of two tunnels.
Mr Goxx started trading on June 12 this year.
The site states that the page is just for fun and does not offer financial advice.
‘MILESTONE SCABILITY TEST’
Solana is on the rise following a “milestone scalability test” last month.
It hosted the “Degenerate Ape Academy”, a collection of digital artworks (NFT) on Solanart, a marketplace on the Solana network.
CRYPTO AUDIO STREAMING
Audius is a crypto-powered music streaming platform.
It’s owned and controlled by token holders – and tokens are called Audio.
According to Audius, over 5.3million people have used the platform this month.
Audio has been listed on CoinMarketCap since October 2020, and has rocketed in value following a deal with Chinese-owned social media giant TikTok.
COINBASE LETS USERS DEPOSIT PAYCHECKS INTO ONLINE ACCOUNTS
Coinbase will let users deposit their paychecks directly into their online accounts, according to CNBC.
“With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase,” Max Branzburg, vice president of product at Coinbase, revealed in a blog post.
“We’re determined to deliver the most trusted full suite of crypto-first financial services to our 68 million users.”
SHIBA INU PRICE CHANGE, CONTINUED
The Sun spoke to experts to find out what lies ahead — and what the cryptocurrency could be worth in 2022.
Shiba Inu is a cryptocurrency token that allows users to hold trillions of them.
Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.
SHIBA INU PRICE CHANGE
In the past month, Shiba has skyrocketed more than 300 percent.
Elon Musk, the billionaire entrepreneur behind Tesla has a Shibu Inu puppy and posted a picture of it on the social media site.
But what does the future has in store for the dog meme cryptocurrency?
WHEN WILL SHIBA INU RELEASE SHIBOSHI NFTs?
On October 5, 2021, the company announced it will release 10,000 digitalized “lovable creatures” for sale, 10,000 digitalized “lovable creatures.”
The post explained that the 10,000 digitalized “lovable creatures” will be set for sale 10,000 digitalized “lovable creatures.”
The company vowed to provide a “heads up” before the official launch.
SHIBOSHI NFTs, CONTINUED
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.”
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.
SHARES IN CRYPTO FIRMS FALL
Shares of cryptocurrency-related firms Coinbase Global, MicroStrategy Inc, Riot Blockchain, and Marathon Patent Group fell after China’s central bank put a ban on crypto trading and mining.
“It’s been a very volatile week to say the least, so I think going into the last week of September the volatility is likely to continue especially with the end-of-the-quarter window dressing,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Investors are also looking for signs of progress on President Joe Biden’s spending and budget bills.
CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES, PART TWO
While crypto creation and trading have been illegal in China since 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the country’s vast network of bitcoin miners.
Thursday’s statement by the central bank sent the strongest yet signal that China is closed to crypto.
CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES
It’s not Beijing’s first move against digital currency – in 2017, China shut down its local cryptocurrency exchanges.
Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies.
CHINA’S CRACKDOWN ON CRYPTO IS ‘BIG OPPORTUNITY’ FOR US
China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee.
This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.
‘BEST CHANCE TO BECOME A MILLIONAIRE’
Do you agree?
WATCH OUT: GIVEAWAY SCAMS
Giveaway scams often pose as celebrities or well-known figures and ask victims to send Bitcoin, promising to send back a much larger amount.
Many giveaway scams are marketed over social media, attempting to connect through Facebook, Twitter, or Instagram.
For instance, victims reported sending more than $2million to scammers impersonating Elon Musk.
DOGECOIN PRICE PREDICTIONS
According to Wallet Investor, the price of Dogecoin is expected to reach $0.476 at this time in 2022.
Meanwhile, Coin Price Forecast sees the price of Dogecoin rising to just $0.29 at the end of 2022.
We’ve previously revealed a price prediction for Dogecoin.
DOGECOIN CAN BE A RISK
All cryptocurrencies come with risks, including Dogecoin.
This is because of the complexity and heavy volatility in the industry, but the heavy volatility is especially true to Dogecoin.
For instance, Dogecoin hit an all-time high of $0.737567 in May.
But Dogecoin hasn’t traded above 30 cents since early September.
DOGECOIN AND THE ‘MUSK’ EFFECT
Because it has mainly been a joke, the rapid price increase in 2021 of Dogecoin can be attributed to retail investors and billionaire Elon Musk.
Musk has plenty of influence on Dogecoin. All it seemingly takes is a simple tweet from him to either tank or drive up the price.
Dogecoin can be thought of as a meme coin – because it isn’t really gaining on its fundamentals.
WHAT IS DOGECOIN?
Dogecoin was launched in 2013 by software engineers Billy Markus and Jackson Palmer.
The cryptocurrency started as a joke, having the Shiba Inu dog as its logo.
The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow.”
Dogecoin has some notable features including its cheap price, unlimited supply, and script algorithm.
STEVEN SEAGAL’S BITCOIN SCANDAL
Under Siege and Half Past Dead hardman Seagal was paid to promote “Bitcoiin2Gen” (B2G) which saw 500 investors left out of pocket in cash and other cryptocurrencies as he unwittingly ended up backing the scam.
Seagal reportedly had been offered $250,000 along with £750,000 worth of B2G for appearing in promotional materials for the con artists.
He appeared in a press release for them and “wholeheartedly” endorsed the scheme in a post to his 7million followers on Facebook.
RISKS OF INVESTING IN BITCOIN, CONTINUED
But then the billionaire caused a big sell-off on Bitcoin when he said Tesla would stop accepting payments of the cryptocurrency.
Although Musk has said he thinks there’s a future with Bitcoin and Tesla, he has expressed environmental concerns over the cryptocurrency.
Since April 13, Bitcoin has dropped 10 percent to date.
WHAT ARE THE RISKS OF INVESTING IN BITCOIN?
Although the returns have been favorable in the past year – a potential investment can turn out poorly if bought too high.
For instance, Bitcoin was looking unstoppable when Elon Musk’s Tesla bought $1.5billion worth of the cryptocurrency earlier in the year.
RISKS OF ROBINHOOD, PART THREE
In July, the platform was also ordered to pay nearly $70million in fines and compensation for misleading customers and outages.
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