Dogecoin DOGE from Reddit
https://www.reddit.com/r/dogecoin/comments/na0r8c/one_dollar_interact_with_this_post_and_image_so/
A group of Dogecoin (DOGE) fans have launched a bid to influence Google’s search rankings so that a picture of the popular canine cryptocurrency appears whenever someone performs an image search for “one dollar”.
The call was made on a Reddit page with the title: “One Dollar. Interact with this post and image so it will be shown in searches for one dollar.”
This is the image that Dogecoin fans are trying to send up the Google Image Search rankings [Reddit]
The post refers to hopes that Dogecoin will eventually be worth one dollar, in a one-of-a-kind competition between crypto evangelists who would often speculate about Bitcoin replacing the dollar as a global currency.
Worth about 50 cents AUD at the time of writing, Elon Musk’s favourite meme coin is now the fourth largest cryptocurrency and its journey seems definitively moonbound. Yet its astronomical growth does not seem to be enough for some Doge fans.
Is It Working?
The bid to engineer the search results appears to be working. When we searched for “one dollar”, a Dogecoin image was indeed riding high in the rankings.
Doge appearing for “one dollar” search images on Google
Despite the recent fluctuations in price, enthusiasm seems to be running high between Doge supporters, with Reddit user comments like “When Tesla accepts Doge, 1 Doge = $35,000, take it or leave it” or “Waiting for Tesla to accept doge since the announcement of Elon’s appearance on SNL…” where he discussed all things DOGE.
On the Reddit page advertising the stunt, users were also talking about Elon Musk’s recent poll in which he asked if Tesla should start accepting the currency. Results are in and almost 80% in favour of DOGE payments, leaving not much room for interpretation of market sentiment.
Decentralized Finance (DeFi) is a new financial system powered by blockchain technology, the same tech which powers Bitcoin and Ethereum.
DeFi is the technology which powers NFTs and Decentralised Exchanges such Fantom, Australian based DEX. The DeFi market is really booming right now, we recently saw DeFi Tokens Generated $252 Million In Revenue For April 2021.
Let’s take a look at the most common risks of using DeFi.
10 Risks Of DeFi Investing
1. Financial Risk
Because DeFi is a new technology, it comes with sizeable financial risk. We have seen people that have lost millions, and also those that have made millions. The financial risk of DeFi could be considered high risk, high reward, depending on a number of factors, mentioned below.
2. Counterparty Risk
Some of DeFi is completely decentralised and some is “semi-decentralised”. For example, using Uniswap to facilitate on-chain peer-to-peer crypto transactions would be considered completed decentralised, as it transacts directly using the Ethereum blockchain. And on the other hand, an example of a semi-decentralised platform would be Binance Smart Chain (BSC), a clone of Ethereum, is controlled by Binance.
3. Software Risk / Smart Contract Bugs
A bug is what allowed hackers to drain 6.3 million ETH from the Dao back in 2016; the first major project to resemble what we now call DeFi today. Reputable DeFi platforms attempt to mitigate the risks of bugs by hiring strong teams of developers and by submitting their code to auditing teams. However time after time we have seen both audited and unaudited code fail a DeFi community, leading to loses in the millions of dollars. This has seen the arrival of DeFi insurance; offered by companies such as Nexus Mutual and Swissborg.
4. Storage Risk / Phishing
Crypto stored in non-custodial wallets risk the loss of funds through phishing. This is where a user is tricked into giving out their seed phrase, or entering it into a fake website. It is a very sure fire way to lose everything in your wallet. The lesson: Never Ever enter your seed phrase to an unknown source or store it in a digital file on your phone or computer, where you could get hacked.
5. Platform Risk / Oracle Failure
Oracle failure has been a major vector of attack in DeFi in 2020. Where bad actors use a Flash Loan to buy or sell an asset, which manipulates the price of that asset just long enough for them to arbitrage the difference and exploit a protocol for millions. This is why projects such as Chainlink are so highly revered, because they solve a massive challenge in DeFi adoption.
6. Security Risk / Admin Key
When you hear of “Rug Pulls” it’s usually because of an admin key. We always have to be on the look out for centralised admin controls that allow a developer or team to lock or move funds deposited into the DeFi app. The most reputable teams in DeFi such as Compound will firstly put in a timelock that prevents changes to code from happening without approval from a Dao governing upgrades and proposals. Secondly they will add a time delay so a community will be warned if a potentially unfavourable or controversial change is coming to the protocol.
7. Liquidity Crisis
Liquidity crisis refers to a lock up of funds and a lack of liquidity. For example: if you lend Dai to Aave, all the Dai is then subsequently borrowed and the app indicates that 100% of Dai is utilised, then you can’t your Dai out until some borrowers return the funds. This can become a real risk particularly due to the use of over collateralised loans that dominate DeFi.
8. Protocol Risk / Governance Failure
Governence failure is another factor interwoven into DeFi protocols. There are debates over whales exerting their massive influence to their own best interest and hurting the smaller fish in the wider community. Others argue that whales wouldn’t self-sabotage a protocol where their money is invested. There are also ongoing debates over deep-pocketed CFi now exerting their influence on DeFi governance and protecting the interests of the larger exchanges.
9. De-Pegging
Pegged assests or Stable Coins risk the chances of de-pegging. This can cause many issues, like an AMM liquidity pool going to zero.
While there are still many problems and risks associated with DeFi, they are being addressed as the cryptocurrency space evolves. DeFi is still very new but as it matures and improves, we will likely see more and more users moving to DeFi in the near future.
10. Compound Risk
All of the risks together form a compound risk for the entire DeFi application. Over time, as this new technology starts to mature, and go through testing and fixing phases, we will see fewer critical edge case risks and lower compound risk.
Major casino group Resorts World Las Vegas has teamed up with crypto exchange Gemini to “enhance the overall guest journey”.
Resorts World Las Vegas has affiliated operations in the Americas, Malaysia, Singapore, the United Kingdom and the Bahamas, and it is committed to being the most crypto friendly major casino group in operation. This may offer a decisive competitive advantage in the cut-throat international gaming market, which is struggling to rebound from lockdowns and impediments on global travel. Gemini also recently partnered with Mastercard to launch crypto rewards credit card.
Whether it’s the ability for their customers to use cryptocurrency at Resorts World Las Vegas or convert dollars into crypto, being one of the first to support crypto is a great way to meet the needs of the next generation of customers and provide a 21st century experience.
Tyler Winklevoss, CEO of Gemini
Gamblers, cryptos and banks
This type of adoption adds to the wide-scale applications of crypto currencies for everyday transactions. Gambling high rollers have long struggled with anti-money laundering (AML) legislation as their pastime requires the wiring of huge volumes of cash, often across international borders. For example, Bank of America received significant customer backlash when it froze the accounts of poker superstar Daniel Negreanu for apparent violations of its AML code for legitimate gambling related transactions.
Crypto-holding casino gamblers of all bankroll sizes will welcome the opportunity to deploy their funds with the least amount of intermediary transactions. Complicated cross-border money wire transfers may become a thing of the past as crypto wallets are not subject to the same onerous restrictions as bank accounts. Seamless crypto usage, in this case to pay for resort stays and gambling, may bring advantages to the entire business ecosystem.
Just a few short years ago, Dogecoin (DOGE) was a joke. Arguably, not many thought it would become the fourth-largest cryptocurrency in the world following an astonishing price surge during 2021. Some investors looking for a repeat of the Doge “miracle” have recently turned to a new coin called SHIB, or Shiba Inu Token.
Named after a famous Japanese breed of dog, SHIB has been nicknamed “the Dogecoin killer” and it looks like it is now being taken more seriously than its pooch-themed image might suggest.
A word of caution
When Binance listed SHIB in its Innovation Zone, a place “where users are able to trade new, innovative tokens that are likely to have higher volatility and pose a higher risk than other tokens”, it issued the following warning:
Please note that, as of the time of writing, the top #1, #2 and #5 wallets hold 50.5%, 7.0% and 3.0% of total supply respectively. SHIB is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility after the Binance listing. Please ensure that you exercise sufficient risk management, have done your own research in regards to SHIB’s fundamentals, and fully understand the project before opting to trade the token.
The man who owns half the world’s Shiba Inu is Vitalik Buterin, whose holdings are now worth billions of dollars after SHIB shot up in price during May from around $0.000002 USD to about $0.000035 USD (an increase of over 15 times). He was given the deposit when SHIB was first minted and it’s understood that he did not know about the gift.
The team behind SHIB writes on their website: “We locked the 50% of the total supply to Uniswap and threw away the keys! The remaining 50% was burned to Vitalik Buterin and we were the first project following this path, so everyone has to buy on the open market, ensuring a fair and complete distribution where devs don’t own team tokens they can dump on the community.”
Is SHIB going to the moon – or doomed to plunge to Earth? No one can tell, but it will be very interesting to see what happens to the latest canine cryptocurrency phenomenon.
The episode aired on May 8th and received the third highest ratings for the show so far this season. SNL has over 10 Million viewers and for the first time ever, the show was also live-streamed on YouTube in more than 100 countries; however “The Dogefather” himself was not enough to sustain the uptrending price of Doge.
Dogecoin (DOGE) fell off a cliff mid way through Elon Musk’s appearance on national television. The coin dropped sharply in a matter of hours, crashing from around $0.73 USD to around $0.43 USD.
Dogecoin’s price action saw a steady pump in the week-long run up to Musk’s SNL appearance, as some buyers loaded up their bags to ride the hype and take advantage of the memecoin’s volatility. But as they say “the higher they rise, the harder they fall”. Just as quickly as Dogecoin’s price pumped, it dumped even faster, as investors rushed to cash in, selling off to take profits.
Perhaps not so coincidentally, popular trading apps Robinhood and Binance experienced problems midway through the program, trapping unwitting noobs by preventing access.
This is a recap of our Partner NGS Crypto, who are Australia’s Blockchain Mining Specialists.
April was yet another successful month for NGS Crypto and all of our members. We have made some exciting developments this month.
Updates To The NGS Crypto Dashboard
30 days before each IMA is due for expiration a notification will appear on your dashboard.
For those members who choose to reinvest via their NGS Crypto Dashboard prior to their IMA expiry, will receive a loyalty bonus.
Loyalty Bonus
We highly value our members at NGS Crypto, and have introduced our new Loyalty Bonus Reward for members who choose to reinvest with us.
This is a great way to show our valued members that we appreciate their ongoing loyalty and support.
All members will be able to add an additional IMA through their own NGS Crypto Dashboard following the easy payment options.
2,3 and 5-Year Packages
We have recently introduced our new NGS Crypto 2, 3 and 5 year IMA package options, this ensures that our members have greater flexibility within their investment with NGS Crypto.
If you wish to talk to Australia’s leading and most trusted Digital Asset Mining service about how you can safely break into the crypto market, contact us today for a free, over the phone appointment with one of our NGS Crypto experts.
Stay up to date with NGS Crypto
Australia’s leading Digital Asset Mining specialists, providing a safe, stable and reliable investment vehicle. Hundreds of everyday Australians are taking advantage of the NGS Crypto service, entering into the digital asset mining space and making returns between 10% – 15% ROI p/a.
The premium crypto casino, Bitcoin.com Games, has just recently launched a brand new promotion to reward players with an extra bit of fun, on the house. ‘Free Spins Mondays’, as the name suggests, is the newest offering from the casino where players can get 50 rounds to play for free.
Free rounds, or Free Spins as they are usually referred to, are rounds that a player can play to win real money on the casino. Bitcoin.com Gamesis rewarding all players with 50 such Free Spins on the game Crystal Land every Monday once the player fulfils the deposit requirement.
Get 50 Free Spins every Monday from Bitcoin.com Games
While most casinos require players to wager a high amount to convert winnings from such Free Spins to real money, the free rounds acquired through this newly launched promotion by Bitcoin.com Games carry a low wagering requirement that can be easily met.
Bitcoin.com Games is an exclusive gaming portal by Bitcoin.com, the most trustworthy brand in the cryptocurrency industry. The crypto casino has quickly become a fan favourite among cryptocurrency enthusiasts and online gamers alike, due to a wide-ranging library of games, 24/7 customer support, and frequent bonus offerings.
Head on over to games.bitcoin.com to claim your Free Spins or check out a range of other exciting games and promotions.
Bitcoin.com Games is a leading crypto casino that provides players with one of the smoothest gaming experiences online. The premium gaming portal hosts a library of games that appeals to lovers of casino classics such as Blackjack, Slots & Roulette as well as to players that are looking for something more modern with new-age slots providing a cutting edge graphics and gameplay experience.
Keeping in line with a primary motive of delivering a secure gaming environment, Bitcoin.com Games has implemented new feature upgrades to it’s login and registration processes. Previous to this upgrade, players were provided with an encrypted account key that would be required every time they wanted to access their casino accounts.
New security upgrades allow players to register and login seamlessly
With the new upgrade, the platform now allows players to sign-up and login using their email ID and a secure password, making the sign-up and login experience easier and more secure. Meanwhile, existing users can still access their accounts using their unique URLs, and choose to add an email address and a password with which they can access their accounts from that point forward.
Bitcoin.com Games strives to provide a safe and secure gaming environment for all players, and the new feature upgrade is one step further in the direction of making the platform as robust and easy to use as possible.
As a result of the rapid advancement in technology these days, and the worldwide pandemic, one shouldn’t be surprised to see many gamblers are changing their gambling methods to online casinos.
Several gambling websites offer the entertainment you need to keep yourself entertained from the comfort of your own home. Most gamblers online do not know about Bitcoin casinos and the way they operate. Check out our Review of Bitcoin.com Games to learn more about what Games are on offer to you.
Crypto Casinos vs. Traditional Casinos
There are several advantages crypto casinos have against traditional casinos. As the world progresses into the future, Bitcoin and cryptocurrencies might become a considerable part of the gambling world. This article introduces you to crypto casinos and compare them with the usual “brick and mortar” traditional casinos.
Traditional Casino Roulette Table
The crypto world has brought a lot of changes to the gambling world. Knowing the significant differences between crypto and Traditional gambling should not be so hard. Some differences make Bitcoin casinos better than online casinos. Let’s take a look.
Online Casino Roulette Table
List of Major Differences Between Crypto Casinos and Traditional Casinos
Before you select the type of casinos you would like to play, you should take time to look at the differences between the two types of casinos, explained below.
1. Currency
One of the main differences between crypto casinos and traditional casinos is the type of currency used to perform various transactions. Regular casinos make use of fiat currencies to exchange and measure value. They include Australian Dollars, Euros, British pound, US Dollar, whereas Crypto Casinos make use of cryptocurrencies to exchange and measure value they include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) among others.
See How to Deposit Bitcoin into your online crypto casino Account for more detailed instructions to get started.
2. Security
Security is one of the most critical things which comes to mind whenever one wants to gamble through the Internet—comparing Bitcoin casinos and Traditional Casinos. They both have significant differences when it comes to security. Cryptocurrency wallets are considered way more secure than debit cards, credit cards, and even bank accounts if they are stored correctly in cold storage.
Casinos like Bitcoin.com Games have security encryption, making it difficult for hackers to access the financial and personal information of you as a gambler. You can always rely on secure gambling because your transactions are secured using blockchain. Using blockchain, there’s no way hackers can get a grip of what your account holds.
Another element you get to enjoy when gambling in a crypto casino is how anonymous you can be. Unlike traditional casinos, these crypto casinos do not require disclosing personal details. This enhances the security of the identity of players as it saves them from dangerous people with hostile intent.
Blockchain secure transactions
It’s also important to note that Bitcoin is decentralized, whereas regular currencies are bound by financial institutions and the government, which has control over them. But cryptocurrencies like Bitcoin have no one with control. This means your gambling bank account could get frozen whenever the government desires for particular reasons. When it comes to the crypto world, you have complete management over your money and your account. Your funds and your account cannot be frozen. Crypto Casinos are way more secure than traditional casinos in this regard.
3. Game Fairness
Another significant difference between crypto casinos and regular casinos is how fair the games can be. Are crypto casinos games fairer compared to traditional casinos? Traditional Casinos which run on fiat currencies have house edges between three to about fifteen percent depending on your case and your specific traditional casino. Whereas crypto casinos use random number generators, which some people might consider introduces more fairness into the games.
The reason that we can guarantee provably fair gaming is that your web browser supplies a random number that we must incorporate into the random number generator in a provably consistent way. Our server first shuffles the deck, and your computer then gives us a random number that we must use to repeatedly cut the deck. Since our servers do not know what random number your computer will send, we have no way of knowing how the shuffle will look in the end. To manually verify a game that has been played, press the green verify button in the MY GAMES table after a game has been played.
Bitcoin.com Games on Game Fairness
4. Transparency
If you have ever gambled in a traditional casino before, you should know the tricks that the operators use to entertain players. Some of these include blocking out windows, hiding the clocks, putting the air-con up high, filling the room with attractive sounds and flashing images to name but a few. To our knowledge, Bitcoin casinos don’t use these techniques, mainly because they are not yet possible on websites and apps.
5. Availability
Have you ever waited for a seat at the table? Well at the online casino there is always a seat available for you. You can also change to any other game within seconds without even leaving your seat.
Game Selection at Online Crypto Casino Bitcoin.com Games
5. Convenience
Australians love convenience, so it’s popular with Aussies to do online gaming instead of playing at a casino. They might lose the “atmosphere” but they might save on travel time and expenses.
Conclusion
The differences highlighted here are significant. This creates a severe difference in your experience as a gambler. Players have considered these preferences and differences before selecting online crypto gaming sites for various types of games that they would like to play.
Available games include live dealer games, baccarat, poker, roulette, slots, and blackjack. You need to improve and develop your gambling skills by practising to increase your winning chances. Both crypto and traditional casinos offer free gaming features, which would train you to make lots of winnings without paying for it.
So get your computer and log on to play games online such as Pokies or Roulette.
