It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
I seriously can't believe it has been a week already. Instead of "thank God it's Friday", I am more in the "holy cow, it's Friday mindset". It seems like we were just starting the work week yesterday.
Meanwhile, as time flies by, crypto continues to chug along. That guy from Luna got arrested in South Korea I think. Did anyone else hear that? You never quite know what you can trust, so I wasn't sure.
Hive has a hard fork coming up. Anyone hear about that? It's actually right around the corner. It will be interesting to see how much this disrupts the platform. I remember my early days on Hive when a hard fork meant the chain would be down for a day or more. It was insanely frustrating. I remember desperately trying to publish a post because I needed to grow my account and constantly being met with nothing due to the hard fork.
Thankfully, we are well past those days. The last two hard forks have went off pretty effortlessly. Sure, this one has some pretty major changes to things like RC's etc, but the witnesses have had quite a bit of time to play around with it, so I think it should be fine.
Don't quote me on that though!
Binance
Sounds like one of the bridges for Binance might have been hacked. If you want all the details, just check out pretty much any crypto channel on Discord or Telegram. That is all anyone is talking about right now. I haven't used Binance in a while to be honest.
I had a regular account a while ago, but living in the US, they ended up shutting that down. I didn't really like the idea of KYC to setup a US account (though I eventually did). For the most part I used Bittrex until they started having constant wallet maintenance. These days, I just use Mandala. It works quite well for me behind a VPN.
The good news is, Binance is pretty centralized, so it might be easy for them to track down the funds. Then again, who knows. The bad news is, if you use Binance or BSC, it sounds like they have everything shutdown right now. Good thing I already collected my CUB the other day!
R-Planet
It seems R-Planet is once again making changes to their staking program. Pretty much all of the native R-Planet mining rigs are reaching end of life. If you want, you can burn them for three months worth of Aether, but other than that, no more Aether will be generated from R-Planet rigs.
Kind of makes me wish I could go back to 2021 and sell a bunch of the rigs I hold when they were going for 10,000+ WAX. Just to rub some salt in the wound, based on the price of WAX at that time, it would have been $3000 or more per rig. I'm sitting on a bunch of these things and they are basically worthless now.
I really need to work on taking gains when I can and being able to walk away from a project after those gains are gained. My biggest fault is probably the fact that I hold on for too long. Both in crypto and in life.
Nefty
I saw an article the other day that one of the major WAX marketplaces; Neftyblocks was selected by IBM to be part of one of their projects. It sounds like they will be getting some seed money. There are about 150 other companies that were also selected to be part of this project, but the fact that they included a blockchain company is kind of cool.
Ultimately, I don't really know what this is going to mean for Nefty, but I have been doing some DeFi stuff over there for a couple of months now. I know a lot of people that think the Nefty token is primed for a big run next bull market. I guess time will tell, but the fact that IBM has confidence in them should tell you something.
Of course, do your own research.
That's all I've got this week. Have an awesome weekend and stay warm!
Sports Talk Social - @bozz.sports
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Honestly, only heaven knows how fast this year is moving.. Concerning the hard fork, at first I thought it meant that another Hive twin (with some modifications) will be born but I see it's like changing some codes on the blockchain, right? I think I came across a post about the update on RCs being able to be delegated in the next fork..? 🤔
Personally, even though I am not yet into crypto trading apart from Hive, I hate it when there is constant maintenance issue on an app. Like Hotbit too, it is just too common!
Yeah, same chain, just an update to it. The new stuff with RCs should be really interesting.
This is my first time experiencing a hard fork on the Hive Blockchain, so I'm sort of wondering what it would be like. It's seems like its nothing but a software upgrade which brings enhanced features, capabilities etc on the blockchain.
Yeah, it shouldn't be too big of a deal for us right now. Down the road the stuff they are adding will make a big difference. In terms of downtime, I doubt we will notice much of anything. Don't quote me on that though.
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When you are an employee, you can't wait for Friday. Entrepreneurs, on the other hand, wish they could delay Friday... ;)
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I would imagine they do!
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Conflict of interest. Hehe
I haven’t yet set up an account on binance because of their kyc policy. But I have no other option, I think so. Honestly speaking, I don't really know what else work in my country. Whomsoever I have asked, they are using binance. The news of hacking the bridge is scary
You should check out Mandala. It might be available. I don't blame you for not wanting to have a Binance account. Decentralized is definitely the way to go. Hopefully some day soon moving between tokens will be much easier.
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Hope so. Thanks for the recommendation. I will look for it
Great round-up, nice one Bozz! Friday does seem to come along pretty quickly! We also have a Hive pump today it looks like!
Yeah, it is pretty crazy. I have been following the chatter in the Leo Finance Discord. Lots of speculation! Thanks for stopping by!
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Ugh, some of those early hard forks nearly gave us "seasoned" bloggers heart attacks. I can remember how nerve wracking it could be. You know, despite all of the negative crypto news in the past few days it really feels like the bottom is close to being in. I have nothing to base that on other than gut instinct but I see so many large companies adding to their crypto portfolios and working on blockchain-related projects. This inspires a lot of confidence in crypto even if the bull market is a ways off yet. It's really in these bear markets that fortunes are made.
Yeah, I remember a couple of those times. I don't remember what hardfork it was, but the chain was down for like a day and a half. I had just published a post that I was thinking might do really well and it got zero eyes because no one could do anything. Super frustrating as a newbie! I've seen some other people point to a similar assumption. I agree with you about businesses investing in all kinds of ways, not just buying tokens, but seed money for blockchain based projects and working on their own blockchain projects.
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I remember that one. That last year with Steemit was precarious. You could tell things were falling apart and I can remember thinking that all those years we put into it would just evaporate into nothingness. Thankfully we all were able to migrate here and continue our journey together.
I've learned to watch what the big companies are doing during bear markets, it's like a crystal ball that gives you a preview of what's to come. There are going to be some pretty amazing opportunities coming in these next few years.
Make sure you keep me in the loop! Unless it is over on ETH. I still can't afford to do too much over on that chain! :) There have been a few times I have wondered if all of this was just going to turn into nothing. Hence my post a bit ago about the parallels between being in crypto and religion. I asked someone the other day if they were afraid this was all going to crumble and it almost felt like asking a priest if they ever doubt God. :)
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I'll let you know if I see anything worth pouncing on. I still stand by AlephZero. It's sub $1 now and think it could go 10x-50x+ during the next run.
Haha, it almost felt like asking a priest if they ever doubted God. I tell you, the FUD is so well-honed now it can even make a true believer doubt but crypto isn't going anywhere but up in our lifetimes. Watching the actions of these big corporations are all the proof I need. Watch what they DO, not so much what they SAY. Even Dimon is up to his old antics of crashing the market so they can scoop up more.
I honestly think doubt is a good thing on both of that equation I mentioned. Asking the tough questions can bring you better understanding. Some of the most devout people I know passed that along to me, in crypto and religion :) Thanks, I still have that one on my follow feed, I just haven't made the buy yet.
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I really haven't touched RPlanet in a long time but it looks like things will be reaching their end of life quite fast and it makes me wonder if the model will even work in the long term. I feel like they didn't really have a plan and they are moving towards the next best thing,
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It's hard to say with them. They have had to pivot so many times that I don't know if they even bother having a plan anymore. Until they get a good majority of the after burned out tied up in packs I doubt too much will change.
The funds in Binance wallets are safe, it was only a bridge that was exploited.
I went to check the price of Hive again now that the fork is only 3 days away or so, and look what I found, lol:
Wake me up when it is $3.00 again 😃
Perfect timing, enjoying your post and my beer 😎