This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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Quick Facts and Tips For Understanding and Securing Crypto Wallets
*Reminder, this is not financial advice and I am not a financial advisor. Always do your own research when investing*
So I won't waste your time with a detailed explanation of crypto wallets that can be found in a plethora of articles, such as this one. This is more of a guide on the important facts of crypto wallets and when needing to explain to "family, friends or other non-believers", otherwise known as FFNB's from here on. So buckle up, this hopefully won't be a drag at all:
Your Response : Ugh, a digital crypto wallet:
Is like a “storage container” where all of your crypto coins and tokens (like cash and coins), and NFTs (like pictures) can be stored on a blockchain (like Google Drive or iCloud but can last forever; does not need an entity like Google or Apple to be in existence for it to continue to be accessed publicly¹)
¹Blockchains are considered active as long as a minimum of one node is on and active
Your Response : Shoot me now, to access a digital crypto wallet:
You need to know your wallet address (like your street address, but can never be changed) - Ex. 0x00abc43kdaf4539nf
You can use many wallet providers (apps that allow you to view your wallet on the blockchain) to interact with the blockchain - Ex. MetaMask, Exodus, Coinbase Wallet, etc
A single digital wallet address is accessible via either private key (long and permanent alphanumeric password) - Ex. afdfd9c3d2095ef696594f6cedcae59e72dcd697e2a7521b1578140422a4
It can also be accessible via a 12 or 24 word secret phrase (long and permanent phrase of random words) - Ex. battery clone horse daytime ever bottle down glass phone towel wood remote
Anyone with either of those pieces of information can get a hold of the assets inside the wallet (like someone stealing a credit card number)
Although one private key resolves to one wallet address, a secret phrase actually creates a portfolio of wallets (one or more wallets within the same secret phrase)
Every new wallet address that is “created” can be restored again with the secret phrase
Your Response : For the love of God, to secure a digital crypto wallet:
***Do Not Tell Anyone Your Secret Phrase Or Private Key! ***- Might as well tattoo it on your forehead if you're going to tell the neighborhood about it.
***Write Down Your Secret Phrase Or Private Key And Store It In A Safe Place! ***- Keeping it in a notebook in a drawer doesn't count. Keeping it in a safe is better.
***Consider Using A Hardware Wallet Like Trezor Or Ledger! - ***Here is a no-brainer, it's not fool-proof, but can be close enough when used minimally and safely.
Any other tips? Reply or DM!
Written by: nikethereum.eth / Medium / Mirror
Quick Facts and Tips For Understanding and Securing Crypto Wallets
*Reminder, this is not financial advice and I am not a financial advisor. Always do your own research when investing*
So I won't waste your time with a detailed explanation of crypto wallets that can be found in a plethora of articles, such as this one. This is more of a guide on the important facts of crypto wallets and when needing to explain to "family, friends or other non-believers", otherwise known as FFNB's from here on. So buckle up, this hopefully won't be a drag at all:
Your Response : Ugh, a digital crypto wallet:
Is like a “storage container” where all of your crypto coins and tokens (like cash and coins), and NFTs (like pictures) can be stored on a blockchain (like Google Drive or iCloud but can last forever; does not need an entity like Google or Apple to be in existence for it to continue to be accessed publicly¹)
¹Blockchains are considered active as long as a minimum of one node is on and active
Your Response : Shoot me now, to access a digital crypto wallet:
You need to know your wallet address (like your street address, but can never be changed) - Ex. 0x00abc43kdaf4539nf
You can use many wallet providers (apps that allow you to view your wallet on the blockchain) to interact with the blockchain - Ex. MetaMask, Exodus, Coinbase Wallet, etc
A single digital wallet address is accessible via either private key (long and permanent alphanumeric password) - Ex. afdfd9c3d2095ef696594f6cedcae59e72dcd697e2a7521b1578140422a4
It can also be accessible via a 12 or 24 word secret phrase (long and permanent phrase of random words) - Ex. battery clone horse daytime ever bottle down glass phone towel wood remote
Anyone with either of those pieces of information can get a hold of the assets inside the wallet (like someone stealing a credit card number)
Although one private key resolves to one wallet address, a secret phrase actually creates a portfolio of wallets (one or more wallets within the same secret phrase)
Every new wallet address that is “created” can be restored again with the secret phrase
Your Response : For the love of God, to secure a digital crypto wallet:
***Do Not Tell Anyone Your Secret Phrase Or Private Key! ***- Might as well tattoo it on your forehead if you're going to tell the neighborhood about it.
***Write Down Your Secret Phrase Or Private Key And Store It In A Safe Place! ***- Keeping it in a notebook in a drawer doesn't count. Keeping it in a safe is better.
***Consider Using A Hardware Wallet Like Trezor Or Ledger! - ***Here is a no-brainer, it's not fool-proof, but can be close enough when used minimally and safely.
Any other tips? Reply or DM!
Written by: nikethereum.eth / Medium / Mirror
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