xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
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The airdrop was a way to help crypto to expand its user base. See the past tense I used! Nowadays, an airdrop is a way to scam new users. It becomes a way to siphon users’ tokens on the wallet away from unknown wallet addresses.
TL;DR
Airdrop is no longer a way to receive cryptos. Instead, scammers use this to embed a smart contract and execute the transfer function to take your cryptos away. Also, most airdrop tokens cannot be sold.
Here is a 1 min summary of the article if you want to skip the reading.
Airdrop Tokens
The way airdrop works were to promote tokens and expand the user base. But, more importantly, it offers users a promise for tokens to be usable.
Newbie FOMO
FOMO is very bad, particularly in the crypto space. Cryptocurrency is a security protocol that allows developers to transfer secrete communication from one end without revealing their private information. To use cryptocurrency properly, one has to understand what it was programmed and how it should work. Unfortunately, newbies are brought into crypto because of the hype rather than understanding the technology.
Airdrop Smart Contract
Tokens run on a smart contract that is more likely to embed hidden codes that execute wallet and withdrawal tokens away. The malicious entity can program a token that users accept and want to sell for profits immediately. By selling tokens in the exchange platform, one will execute a smart contract embedded in the token that triggers hidden functions either overtake control of the wallet or executes transactions that users were not intended to do.
No Whitepaper
Tokens airdrop into your wallet rather than understand the whitepaper and explain how tokens may work and benefit the future. People want to make money, but it is easier for hackers and scammers to take advantage of.
Fake Tokens For Well Known Crypto Sites
Tokens for MetaMask, OpenSea, Ethereum Web3, and many more to come, but those tokens are likely fake tokens that you receive and cannot sell for profits. Instead, they are scam tokens that will charge you costly gas fees to transact tokens or simply smart contracts to take away your crypto.
In Conclusion
No FOMO. Airdrops are no longer a viable way to receive free crypto or tokens. You need to be aware of scammers and learn crypto from ground zero.
The airdrop was a way to help crypto to expand its user base. See the past tense I used! Nowadays, an airdrop is a way to scam new users. It becomes a way to siphon users’ tokens on the wallet away from unknown wallet addresses.
TL;DR
Airdrop is no longer a way to receive cryptos. Instead, scammers use this to embed a smart contract and execute the transfer function to take your cryptos away. Also, most airdrop tokens cannot be sold.
Here is a 1 min summary of the article if you want to skip the reading.
Airdrop Tokens
The way airdrop works were to promote tokens and expand the user base. But, more importantly, it offers users a promise for tokens to be usable.
Newbie FOMO
FOMO is very bad, particularly in the crypto space. Cryptocurrency is a security protocol that allows developers to transfer secrete communication from one end without revealing their private information. To use cryptocurrency properly, one has to understand what it was programmed and how it should work. Unfortunately, newbies are brought into crypto because of the hype rather than understanding the technology.
Airdrop Smart Contract
Tokens run on a smart contract that is more likely to embed hidden codes that execute wallet and withdrawal tokens away. The malicious entity can program a token that users accept and want to sell for profits immediately. By selling tokens in the exchange platform, one will execute a smart contract embedded in the token that triggers hidden functions either overtake control of the wallet or executes transactions that users were not intended to do.
No Whitepaper
Tokens airdrop into your wallet rather than understand the whitepaper and explain how tokens may work and benefit the future. People want to make money, but it is easier for hackers and scammers to take advantage of.
Fake Tokens For Well Known Crypto Sites
Tokens for MetaMask, OpenSea, Ethereum Web3, and many more to come, but those tokens are likely fake tokens that you receive and cannot sell for profits. Instead, they are scam tokens that will charge you costly gas fees to transact tokens or simply smart contracts to take away your crypto.
In Conclusion
No FOMO. Airdrops are no longer a viable way to receive free crypto or tokens. You need to be aware of scammers and learn crypto from ground zero.
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