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Redditor Creates BTC-Themed Game as Holiday Gift for Crypto Community

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Redditor Creates BTC-Themed Game as Holiday Gift for Crypto Community

A Redditor has introduced a new Bitcoin (BTC) video game as a holiday gift to the crypto community.

Shared on Dec. 24 on Reddit, the new “Satoshi vs. the Shills” Bitcoin game is a survival shooter game featuring Bitcoin’s anonymous creator Satoshi Nakamoto as the main character.

The arcade game is available on the Google Play store for Android. Big Hands, the developer of the game, has not yet specified to Cointelegraph whether its team is planning to roll out the game on iOS or other platforms as of press time. This article will be updated if new comments come in.

“Bitcoin is dead, bro”

With the game letting players assume the role of Nakamoto, they will have to stand against crowds of shills — people referred to by the crypto community as those who promote cryptocurrencies other than Bitcoin. On their way to approach the player, these enemies shout out typical shill messages like “Check my grandma’s ICO,” “Yeah, but I know of a better coin,” or “Bitcoin is dead, bro.”

The player’s mission is to shoot the shillers and stop them from taking over the world, according to a description available on Google Play.

Satoshi vs the Shills gameplay

Satoshi vs the Shills gameplay. Source: Google Play

Close interaction of crypto and game industries

Gaming is one of several sectors highly affected by growing cryptocurrency adoption. Crypto not only serves as a source of game plots (as it does here) but also provides new technology to innovative gaming opportunities. United States IT firm Advanced Micro Devices joined the Blockchain Game Alliance to help advance the technology’s use in the industry on Dec. 12. And according to a recent expert opinion shared with Cointelegraph, gaming is purportedly the key to mass adoption of crypto — gamers are allegedly more tech savvy and open to new ideas than the average internet user.

Published at Tue, 24 Dec 2019 17:22:00 +0000

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Meme Coins Craze Attracting Money Behind Fall of Bitcoin

From the eyes of crypto-analysts, the ongoing craze for meme coins is the main reason behind the price struggle for Bitcoin.

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From the eyes of crypto-analysts, the ongoing craze for meme coins is the main reason behind the price struggle for Bitcoin. And, meme coins like Dogecoin and its clones are constantly sucking funds out of Bitcoin.

The Money Will Soon Reenter The Market: CEO CryptoQuant

The ongoing massive flows in the fresh funds are statistically massive. However, CryptoQuant’s CEO Ki-Young Ju believes that trends are changing at much higher rates, and tokens with true intrinsic value like BTC will recommence their position in the market. The statement reads,

“Smart money will reenter the market soon and reverse the trend.”

All of this started with Elon Musk who has always favored the meme cryptocurrency DOGE. Supported by names like Mark Cuban and Snoop Dogg that has also attracted the masses of investors in the space, it became arguably the most widely discussed topic in and outside the crypto-sphere.

However, there are crypto-whales in the market who know how to take advantage of the ongoing mania. Coins that seemingly have no value or product, are gaining people’s attention due to advertising services. In this attention-grabbing game, one can observe massive fluctuations and promises for multi-digital return.

The most recent example is a token called Shiba Inu (SHIB) whose exchange value is up tenfold in the past few days alone. This additionally enhances the snowball effect. According to analysts, the massive increase in value is also the result of most searched and viewed digital assets. Apart from the mind-blowing returns, the following data from CoinMarketCap confirms the same.

Smart Money to Go in Bitcoin Soon

CryptoQuant’s CEO argued that,

“The asset’s fundamentals are still “strong,” and on-chain data support this narrative. The market will become smart money soon, and the funds will go to major coins that have intrinsic value. The ongoing craze for meme coin is the primary reason why bitcoin’s price has been struggling.

At the same time, many altcoins see frequent new records, including the aforementioned massive surges by the meme coins. Nevertheless, CryptoQuant’s CEO. believes that this trend is about to change soon.

 As per reports, institutional investors uninterruptedly collecting cryptocurrencies, miners are refusing to sell, and smaller hoDLers are withdrawing their coins from exchanges at the same time. 

READ  Why Litecoin’s Ambitious Surge to Dethrone XRP Was Short-Lived

#‘Dogecoin Killer’ Shiba Inu #Bitcoin #CEO CryptoQuant #CryptoQuant’s CEO Ki Young Ju #SHIB #Shiba-Inu

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Source: https://www.cryptoknowmics.com/news/meme-coins-craze-attracting-money-behind-fall-of-bitcoin

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Let The Bidding Begin: The First NFT Patent?

We’ve seen a wide variety of NFT releases this year. From trading cards, to immersive 3D graphic designs. From realistic still images, to real-life engagement opportunities with star meet & greets. One thing we seemingly haven’t seen yet, until now, is patents. However, aptly noted today on Twitter by sports, entertainment, and IP lawyer and […]

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We’ve seen a wide variety of NFT releases this year. From trading cards, to immersive 3D graphic designs. From realistic still images, to real-life engagement opportunities with star meet & greets. One thing we seemingly haven’t seen yet, until now, is patents. However, aptly noted today on Twitter by sports, entertainment, and IP lawyer and University of Florida professor Darren Heitner, is what seems to be the very first patent auctioned off as an NFT.

What It Is, And What It Means

The auction was originally listed in recent weeks by True Return Systems LLC and D. Tiller Law PLLC. The patent (US Patent #10,025,797) is centered around providing an “elegant solution for maintaining blockchain’s foundational benefits while expanding applications, easing combination of ‘on chain’ and ‘off chain’ data storage”. Additionally, the patent cites potential application across a variety of industries, including health care, financial services, data sciences, and more.

The patent is currently listed for 2,250 ETH (approx $9M USD at time of writing) on OpenSea, with no bidders at the time of writing.

Related Reading | NFTs In A Nutshell: A Weekly Review

Join The Club

The road doesn’t seem to stop here, either. It was around the same time that reports were released that IBM would be working with IP specialists IPwe to represent patents as NFTs as well. As the report notes, “IBM’s blockchain group already works with corporate clients on tech efforts like tracking food supply chains using the blockchain”. Additionally, IBM said in a joint statement that the tokenization of IP “will help position patents to be more easily sold, traded, commercialized or otherwise monetized”. IPwe founder Erich Spangenberg cited that only a small percentage of the patent market is valued. IPwe has been working on a ‘Global Patent Marketplace’ powered by blockchain technology. The team with IBM Services has broadly described this as the “digitization of everything”.

ETH has been a strong performer, helped in part by the emergence of NFTs. | Source: ETH-USD on TradingView.com

The Patent’s Producers & Rights

This NFT is especially unique for a couple different reasons. Firstly, it’s seemingly the first publicly-available patent utilizing blockchain technology, and for a patent within blockchain technology rights as well. Additionally, the NFT has transferrable rights rarely seen at a comparable level. The NFT purchaser receives an executed agreement, and carries the right to sue for infringement should it occur. As the discussion around the most valuable use cases for NFTs continue to evolve, patents could find their way towards the top of the list.

True Return Systems, who have hosted the NFT, is a Connecticut-based financial technology consulting company. Their partner on the project, D. Tiller Law, is a legal firm focused on IP and technology.

Inventor Jack Fonss of True Return Systems noted in the press release that “the most impactful patents are themselves functional works of art”. If this sentiment continues to be shared with rights-holders and inventors, we could see many more patent NFTs to come.

Art and creative engagement, meet utility and innovation.

Related Reading | Dvision Network To Launch Limited Edition NFT Characters At OpenSea Auction 

Featured image from Pixabay, Charts from TradingView.com

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/let-the-bidding-begin-the-first-nft-patent/?utm_source=rss&utm_medium=rss&utm_campaign=let-the-bidding-begin-the-first-nft-patent

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Sentiment Flippening: Why This Bitcoin Expert Doesn’t Own Ethereum

We at Bitcoinist covered the lack of decentralization of the Binance Smart Chain. And, at the moment, the BSC is Ethereum’s main competition. That sparks a question, inquiring minds want to know: how decentralized is Ethereum? Not enough, according to author, investor, YouTube star, and Bitcoin expert Preston Pysh. In a recent Twitter thread explaining […]

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We at Bitcoinist covered the lack of decentralization of the Binance Smart Chain. And, at the moment, the BSC is Ethereum’s main competition. That sparks a question, inquiring minds want to know: how decentralized is Ethereum? Not enough, according to author, investor, YouTube star, and Bitcoin expert Preston Pysh.

In a recent Twitter thread explaining why he doesn’t own ETH, Pysh started with: “First, I don’t trust the decentralization of the ETH protocol.” It’s no secret that Ethereum’s creator Vitálik Buterin and a few key developers have almost complete control over the project, but, is that the only thing that makes Ethereum a semi-centralized affair? Not according to Pysh.

ETH to BTC price chart - TradingView

ETH to BTC price chart on Bittrex | Source: ETH/BTC on TradingView.com

Running nodes and PoS in Ethereum

The author says that the process for running an Ethereum node is “not straightforward,” and that the project’s community often says that a “full node is a “spectrum,” of decentralization.” And then proceeds to describe how in November of last year the node operator Infura went down and exchanges had to temporarily stop processing Ethereum-related transactions.

Then, Pysh goes for the jugular. According to him, the Proof-of-Stake consensus mechanism that Ethereum 2.0 is planning to use, “is just like the existing fiat system.” He explains this further, “If you have a bunch of money, you stake those positions and then you have more influence over the incentives of the overall protocol.

Related Reading | 3 Trends Show Ethereum Is On Track For Strong Growth in 2021

That’s the main argument against all the newer blockchains that reject the Proof-of-Work model that Bitcoin uses. The system they came up with, PoS, clearly favors the rich and powerful and creates “gatekeepers and kingmakers.

Yeah, but, what about all the innovations?

You can say whatever you want about Decentralized Finance (DeFi) and the NFT craze, but the fact of the matter is that most of those experiments are happening on the Ethereum blockchain. And experimentation is good for the crypto ecosystem. It keeps it exciting and it can spark the next big thing. 

What does Pysh say about this? That DeFi is also happening on the Bitcoin blockchain. As an example, he uses, “Hodl-Hodl is a platform that enables P2P lending & borrowing and it doesn’t have a native token.

This might be Pysh’s weakest point, but he brings reinforcement by quoting Lyn Alden’s “An Economic Analysis of Ethereum” essay. In that piece, she’s brutal. She qualifies the whole Ethereum DeFi space as:

A big operating system powered by crypto tokens, for the purpose of moving around… crypto tokens.

A healthy banking system in the real world would consist of people depositing money, and the banks making various loans for mortgages and for business financing, to generate real-world utility.

Plus, the competition in the smart contracts space is tremendous. To illustrate that, Pysh lets “one of the greatest investors of all time” speak: 

Yeah, but, what about the rise in Ethereum’s price?

The facts are the facts: Ethereum’s bull run continues and Bitcoin’s price has been consolidating for months now. To explain this, Pysh recommends to, “go back and look at what happened during the summer of 2017. This was analogous in the previous Bitcoin bull market to what we are seeing right now.” 

Related Reading | Expert Expects Bitcoin “Decoupling” From Stocks But Not For The Reason You Think

At that time also, during Bitcoin’s consolidation period, “ETH aggressively outperformed BTC.” And he means it. The relationship between Ether and Bitcoin has never been so skewed towards the former, not even now. In fact, as the charts show, it’s not even close. 

To conclude, Preston Pysh says

The author admits he’s biased towards Bitcoin, and that he can’t see the future and wouldn’t know what it holds for Ethereum. Regardless, Pysh thinks that Bitcoin is a better solution for the problem at hand, “Sound, censorship-resistant money, w/ timeless decentralization.” And that with a, “100 trillion + bond market that’s already priced to collapse,” a massive influx of money is coming to Bitcoin. It’s not coming to Ethereum, because it’s “controlled by tech gatekeepers.

He finishes with well-wishes and an invitation, “I highly encourage you to think for yourself and invest YOUR money the way YOU see fit.  Happy investing.”  

Hear, hear.

Featured Image by Katerina Limpitsouni on unDraw - Charts by TradingView

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/sentiment-flippening-why-this-bitcoin-expert-doesnt-own-ethereum/?utm_source=rss&utm_medium=rss&utm_campaign=sentiment-flippening-why-this-bitcoin-expert-doesnt-own-ethereum

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Ethereum, Dogecoin, XRP Price Analysis: 11 May

Ethereum’s bearish signals could materialize into a correction and the first support mark lay around $3,810-$3800. Dogecoin cut losses at $0.44 but this area would need to be defended over the coming

The post Ethereum, Dogecoin, XRP Price Analysis: 11 May appeared first on AMBCrypto.

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Ethereum’s bearish signals could materialize into a correction and the first support mark lay around $3,810-$3800. Dogecoin cut losses at $0.44 but this area would need to be defended over the coming days as well. Lastly, XRP neared $1.31-support and a breakdown could go as low as $0.91.

Ethereum [ETH]

Source: ETH/USD, TradingView

Since late April, Ethereum’s price jumped from $2,166 to a high of $4,200, while corrections have been few and far between. However, the appearance of a consecutive doji candlestick on the daily timeframe caused created some skepticism in ETH’s most recent rally. In fact, warning signals have been present in the market for the past few days and while buying pressure has kept up despite these signs, a correction might finally be around the corner.

On the 4-hour timeframe, consecutive red candlesticks saw ETH dip closer towards $3,800-support. Additional levels of support lay around $3,560, $3,200 and a sharper sell-off could go as low as $2,530 – a region that coincided with the 50-SMA (yellow). RSI was yet to dip from the overbought region – indicative of an incoming price correction. MACD line was well above the Signal line, but its histogram noted some weakening momentum.

Dogecoin [DOGE]

Source: DOGE/USD, TradingView

Dogecoin cushioned its losses at $0.44-support but some indicators still pointed towards weakness in the market. MACD was close to a bearish crossover. If the present support counters bearish presence over the coming days, DOGE would have established a reliable line of defense at $0.44. This would likely lead to a round of consolidation as DOGE prepares for its next upswing.

A break below $0.44 could go as low as $0.226 (50-SMA). Despite a sharp decline in trade volume, the flow of institutional capital remains healthy for Dogecoin. This was highlighted by Chaikin Money Flow as it maintained above the half-line.

XRP

Source: XRP/USD, TradingView

With regard to XRP, the 50-SMA floated around $1.14 and a dip below this point could lead to another round of sell-off. After steadily rising since early January, OBV started to decline from April 15. A downturn in buying pressure indicated that investors have been taking profits. If this continues over the week, XRP could dip below $1.14 and all the way towards $0.91 before buyers step in.

Awesome Oscillator formed a bearish twin peak- setup that usually sides strongly with the sellers. For a bullish comeback, levels to recapture include $1.52 and $1.66. This could lead to a jump towards the $2-mark.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/ethereum-dogecoin-xrp-price-analysis-11-may

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