Crypto Atanuu

Understanding the Scam

A. Types of Cryptocurrency Scams

Ponzi Scheme: This classic crypto scam is making a comeback in the world of cryptocurrency. It starts with a convincing pitch: an opportunity to earn big profits in a short amount of time. However, behind the invitation to earn big lies a sinister plot. The returns promised to early investors are paid using the funds of new investors, and the whole scheme eventually collapses when the flow of new investors dries up.

Phishing Scam: This cryptocurrency scam is all about tricking individuals into giving up their valuable information, such as passwords and bank details, by pretending to be a trustworthy entity. In the world of cryptocurrency, phishing scams can target exchanges, wallets, or even individual users. Crypto scammers are getting more advanced everyday. So always be on the lookout for anything that seems too good to be true.

Cloud Mining Scam: This crypto scam lures unsuspecting investors with promises of huge profits by investing in cloud mining operations. The idea is simple: rent mining power from a company to mine cryptocurrencies and watch the profits roll in. However, many of these companies are nothing more than fraudulent operations. They just wait to make a quick getaway with their clients’ hard-earned investments.

Romance Scam: A romance scam is a type of online scam where the scammer creates a fake online profile to pose as someone they are not, usually someone attractive and wealthy. The scammer then uses this fake profile to build a relationship with the victim, often over a period of weeks or months. Once the scammer has gained the victim’s trust, they will start to ask for money for various reasons. In some cases, the scammer will even ask the victim to send them cryptocurrency. Cryptocurrency romance scams are becoming increasingly common, as cryptocurrency is a relatively new and unfamiliar asset to many people. Once the victim has sent the scammer cryptocurrency, it is very difficult to get it back.#Binance

Coinbase CEO Brian Armstrong has said that the US Securities and Exchange Commission (SEC) had told the crypto exchange to delist all cryptocurrencies on its platform except for Bitcoin.

In a July 31, 2023 interview with the Financial Times, Armstrong said that the US securities regulator wanted the crypto exchange to delist the nearly 250 tokens on its platform prior to filing a lawsuit against the exchange

#FDUSD #Binance $BTC

Responding to a tweet about high transaction fees with Ethereum, Elon Musk simply said “Dooooge” — hyping his favourite crypto but also pointing to how it can be used to make Decentralised Finance (DeFi) more accessible to everyone. The Tesla CEO often uses his Twitter handle to drop suggestions for crypto investors at a time the market is witnessing a global boom, and this is another occasion where he has posted about meme-based cryptocurrency Dogecoin. DeFi systems aim to provide an autonomous and decentralised option for financial services that are otherwise regulated by banks. Most of the DeFi applications are based on the Ethereum blockchain, where the transaction fees are now fairly high, because of the cost of each Ether (ETH) token.

Crypto news portal CoinDesk tweeted a story about the DeFi protocol becoming inaccessible to small investors due to Ethereum's high transaction fees. Musk tweeted a one-word reply under this story, “Dooooge”, referring to his favourite cryptocurrency, the Dogecoin.

#dyor #elonMusk $DOGE

Memecoins thrive on speculation, and Musk’s inclusion of the Dogecoin (DOGE) logo in his Twitter bio has fueled rumors that gained strength following the rebranding to ‘‘X’’ and the potential inclusion of payments. Launching a super app, including payment infrastructure, seems to indicate the inclusion of crypto payments, and market sentiment grows increasingly bullish.

Dogecoin (DOGE) price pumps 16% as Elon Musk’s tweet connects $DOGE and X, but the hidden story rests among the new generation of memecoins and a protocol titled DigiToads (TOADS). The astounding presale results put this blockchain ICO on a trajectory to topple Dogecoin (DOGE), and analysts believe that DigiToads is next to explode.

DigiToads (TOADS) Presale Crosses $6.6 Million

Investors must always look at second-order effects to get ahead of the market. DigiToads has been a substantial net beneficiary of the increased inflow into memecoins, and the presale speaks for itself. After eclipsing $6.6 million, the central target for the total raise has shot up to $10 million.

TOADS is part of the cohort of new DeFi projects fundamentally improving the models and economics of the top altcoins from the last cycle. It takes all the standard methods of value accrual typical in the meme genre, principally a viral marketing strategy, a cute mascot, and a burn campaign, and blends these with a utility-focused ecosystem.

The ecosystem, The Swamp, delivers numerous passive income sources for investors, and $TOADS ownership providing cash flows will lead to a drastic repricing at launch on August 21st hence analysts’ price forecasts of a 2,100% surge before the end of 2023.

The Swamp includes an NFT Staking mechanic, allowing holders of the DigiToads NFT Collection to earn payouts. The Swamp’s taxation system, Toad Tax, guarantees the sustainability of these payouts and directs 2% of all transactions to this pool. Additionally, burning 2% of transactions and constantly decreasing the total supply of $TOADS.

The Swamp airdrops tokens to all community members funded from revenue generated by the in-game item store from Toad Cade- the ecosystem’s play-to-earn game. Which opens up another revenue stream for investors.

The native DEX, the active treasury management system, the charity initiatives, and the educational platform also feature in the broader DigiToads’ flywheel. And this pivot toward utility, earning, and community makes $TOADS one of the best altcoins to invest in over the next six months.

#elonMusk #Binance $DOGE

Oversight of the crypto industry has hitherto been a grey area, with the SEC and the Commodity Futures Trading Commission jockeying for control.

The CFTC sued the largest crypto exchange, Binance, in March of this year, three months before the SEC launched its own legal action against the company. 

Gensler has previously said he believes most cryptocurrencies with the exception of bitcoin are securities. However, the recommendation to Coinbase signals that the SEC has adopted this interpretation in its attempts to regulate the industry.

#Binance #sec

Elon Musk, the billionaire entrepreneur and CEO of SpaceX and Tesla, has been closely associated with Dogecoin, a cryptocurrency that started as a meme but gained significant popularity. Musk has been a vocal supporter of Dogecoin, frequently tweeting about it and sharing memes related to the cryptocurrency.

His tweets and public statements often have a significant impact on Dogecoin's price and overall market sentiment. For instance, when he tweeted positively about Dogecoin, its value surged, and vice versa.

Elon Musk's influence on the cryptocurrency market, especially with Dogecoin, has been a subject of both fascination and controversy. Some see his involvement as a positive force, bringing attention and innovation to the crypto space. However, others express concerns about the volatility that his tweets can trigger and the potential risks associated with such influence.

It's important to note that the cryptocurrency market, including Dogecoin, is highly speculative and subject to significant fluctuations. While Elon Musk's interest and involvement have undoubtedly brought more attention to Dogecoin, it's essential to approach any investment in cryptocurrencies with caution and careful consideration of the risks involved.

#GOATMoments #Binance #elonMusk $DOGE

Less than an hour ago, tech billionaire Elon Musk, who owns X app (formerly known as Twitter), issued a post, stating that “something special coming soon”.

This tweet brought a wave of enthusiastic responses from the crypto community, especially from Dogecoin-themed accounts. Many, including influencer David Gokhstein, expect X to add DOGE as a payment method, as Musk many times hinted earlier.

Still, Elon Musk keeps the community intrigued, hinting at another addition to X, which is now undergoing heavy changes, starting with the rebranding from Twitter. Earlier today, Musk posted an image with the app’s new logo – “X” and some major XRP-themed accounts again responded, likening this symbol to the logo of the XRP coin.

$DOGE #elonMusk #GOATMoments #BTC #XRP $XRP

Dogecoin is now a long way from its all-time high of $0.7 which was brought about by billionaire Elon Musk aggressively promoting what he calls his “favorite” cryptocurrency. However, as the meme coin continues to trend low, even with the current bull sentiment, there is always the possibility of Musk resuming his very public support for Dogecoin.

Can Elon Musk Recreate 2021 For Dogecoin?

Elon Musk’s influence on the Dogecoin community and the price of the meme coin by extension is still very prominent. Just the fact that Musk had purchased Twitter had sent the price of DOGE rallying over 150% in a matter of days. But so far, there has not been much from the billionaire about the cryptocurrency.

#elonMusk #Binance d$DOGE

Bitcoin (BTC), the world’s largest cryptocurrency by market value, could reach $300,000 by 2028, said Mark Yusko, Morgan Creek Capital Management founder and CEO, on CoinDesk TV’s First Mover.

Yusko made the prediction while comparing bitcoin to gold. Gold is not portable or divisible, whereas bitcoin is, CEO of the $1.6 billion asset management firm explained. "Bitcoin fixes both of these issues, and is equally scarce," Yusko added, making the case that the digital asset could eventually catch up to the precious metal’s valuation.

Yusko’s bullish prediction hinges on using previous historical examples of how the price of bitcoin behaved after each halving event. "Every [Bitcoin] halving we’ve added a zero, and by next April I think we could go to $100,000,” he said.

Yusko joins other bitcoin bulls who have recently predicted a higher price for the digital currency. Most recently, British multinational bank, Standard Chartered, predicted that bitcoin could reach $120,000 by the year-end. Meanwhile, Crypto services provider Matrixport, said it sees bitcoin rallying to as high as $125,000 by the end of 2024.

The monetary value of gold is about 6 trillion, I think bitcoin can replace all of that, the monetary equivalent of $6 trillion is about a 10X from here, which gives us a price of about $300K,” said Yusko.

He estimates that the $300,000 price could be reached by 2028, when bitcoin will go through another halving event.

Roughly every four years, the bitcoin rewards, the miners receive for successfully mining a block, are cut in half to control the blockchain's supply economics. This event is known as the halving and is often seen as a positive catalyst for the price of the digital currency as it reduces inflationary pressure on bitcoin. The next halving will be around April of 2024, followed by one in 2028.

#GOATMoments #Binance #BTC $BTC