Ethereum Someone Just Used a CryptoPunk As Collateral For An $8M Loan |
- Someone Just Used a CryptoPunk As Collateral For An $8M Loan
- 6 Red Flags to Avoid When Investing in NFT-s
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- Moonshot: Solving the Ukraine crisis with Ethereum and Game Theory
- Ethereum Foundation Releases Grants worth $750,000 to Fund ETH Research
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- A zkSync Token is Necessary
- How to lose all your money with Metamask phishing attack.
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- What Tokenization Could Do for Ethereum Scaling Solutions
- What is Ethereum Whisper? A Guide for Beginners
- How to Mint a NFT on Art Blocks! Revealing The Human & Machine’s “END” NFT with Ofir Liberman
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- Adventure awaits you!
- $1.7m stolen from simple email phishing: 3 security lessons we can learn from OpenSea attack
- Hackers Targeting MetaMask Users with Novel Phishing Scam
| Someone Just Used a CryptoPunk As Collateral For An $8M Loan Posted: 02 Mar 2022 04:25 AM PST
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| 6 Red Flags to Avoid When Investing in NFT-s Posted: 02 Mar 2022 05:58 AM PST TOP 6 Major Red Flags in NFT ProjectsWhen you enter the NFT market as a newcomer, you will most likely encounter many NFT projects that sound almost too good to be true. It does not matter whether you have close to zero or years of experience, people still tend to ignore these easy to remember red flags to separate promising NFT projects from the shady ones. To ensure that you don't make these massive mistakes by getting into a suspicious NFT project, we gathered TOP 6 red flags to not ignore by any means. Or watch a 3 minute video instead https://www.youtube.com/watch?v=t99EJu_7GAQ&t=8s 1. Undoxxed teamIf you look at the project's website and it does not have links to real Instagram, Twitter, or LinkedIn accounts, do not buy the NFT to prevent the possibility of getting scammed. A doxed team, regardless of skillset or background, adds a layer of trust that there are real people building real projects. Recommendation: Question their discord as to why there is no personal information included. If they cannot provide an answer as to why that satisfies your standards, stay away. 2. Fake Twitter or Discord followers/accountsThere are plenty of sources that will chat on behalf of the team on their Discord server. For example, Fiverr provides a message every min per hour just for $20. Different websites such as GetViral sell Twitter followers for almost no money that will create an illusion of a reliable following. Recommendation: Do a quick audit, for instance use TwitterAudit. Look through engagement on posts to see if there are any real people or just bots. If the account has 120k followers and only 50 likes, it is a red flag. Also check if any notable people follow the account. 3. Artificial hypeMost shady NFT projects often purchase celebrity endorsements to generate unrealistic publicity around the project. Big names in the field of entertainment such as Thiago Silva can be hired for a silly amount of money to gain people's attention in the sketchy project. Recommendation: It is highly recommended to do some research. Dig into whether the partnerships are officially approved or just paid "partnerships". 4. Unrealistic mint priceHype-based pricing is certainly a real problem in the NFT space. The golden rule to identify a suspicious NFT project is to analyse the mint price. Behind a high mint price there is almost always the combination of hype and FOMO which drives the price unrealistically high. Many projects have nothing of substance to back their price and rely solely on "influencers" to boost the price. This results in investing money into those projects because of FOMO and losing everything when the hype dies. Real community builders start the mint price at a reasonable level and do not extract all the liquidity out of the market. Just because the NFT project can demand a high price does not mean they should. Recommendation: A project that allows the original minters to participate in an affordable way is what builds loyal supporters of the project to stick through the storm and lulls. As an opposite, projects that mint at ridiculously high prices often have difficulty finding support during tough times. Therefore, it is important to invest in projects you truly believe in. 5. Predatory tacticsFloor sweeps: Sweeping the floor in the NFT world means when a specific project buys all its minted NFTS at the floor price. The floor price is the minimum "ask" or the lowest price an NFT can be sold on the secondary market. It is the most popular metric for tracking a project's performance over time and its relative success compared to others. As an emerging project, floor sweeping can be a method to attract newcomers by guaranteeing low entry points. Banning members: Another predatory tactic to look out for is banning members for listing below prices. This means a member of the project is being kicked out of the community for selling their NFT at a much lower price than the fishy owners of the projects approve. Echo chamber: A big red flag is the existence of an echo chamber. It is an environment where a person only encounters information or opinions that reflect and reinforce their own. This may limit the information the users consume and promote ideas relevant to the NFT project. Recommendation: Step out of the chamber (Discord, forums etc) for a few days. This often allows for the head to clear so better judgement can be made. Other popular red flags to watch out for are harassments of any kind, threats and piggybacking of popular projects. 6. Meta clichéIf the project fails to bring more than little innovation by introducing repetitive meta or roadmaps, be cautious. This can be an alarming indicator that the project is most likely going to take advantage of your money to cover its own interests. In addition, if the project fails to address legality concerns over securities and insurance of tokens, consider exiting the project. Meta is easy to copy, and tokens can be launched only in a matter or hours. On the contrary, real economies take months or years to create. The lack of ability to create proper Tokenomics or P2E for sustainability and longevity is also a worrying measure. For instance, the owners of the Bored Ape Yacht Club can participate in exclusive clubs and areas of the BAYC. This is a good way of thinking in the future and gaining people's trust. Tokenomics: The goal of a Tokenomic analysis is to understand the potential value of the project by considering all aspects of a token's creation and management, including its supply, allocation, and distribution. The reason why Tokenomics is so important is that it helps to ascertain the future worth of an asset by giving an insight into the profitability of one asset over the other in the future. P2E (Play to Earn): indicates a type of gaming that hinges on NFT technologies. For example, gamers can play video games and virtual worlds for rewards by making an initial investment in the NFT. Identifying these red flags may be a long arduous journey of separating the real NFT projects from the quick cash-grabs, but once you understand the importance of it, success is guaranteed. Unfortunately, there are no blueprints to follow in this new industry, which means there are no right or wrong ways to approach a project. Start by looking for niches and teams with the ability to execute. Find out who is the founding team, and how they work, what their values and grand vision are. If they show lack in respect, transparency, or communication, consider moving on. [link] [comments] | ||
| Posted: 02 Mar 2022 08:28 AM PST
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| Posted: 01 Mar 2022 11:59 PM PST
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| Moonshot: Solving the Ukraine crisis with Ethereum and Game Theory Posted: 02 Mar 2022 12:52 AM PST Hear me out. We create a Russian Soldier Defector DAO that accepts donations from all over the world. The fund distributes money to each confirmed Russian Soldier defector, or returns the money to the donors after some time period in the scenario where no defectors are confirmed. We fund the fuck out of this DAO and get media attention. We use the media attention to petition countries around the world to offer asylum and residence to all confirmed Russian Soldier defectors. Russian soldiers realize that they are in a position to defect, get paid, and have a better life in a modern country where they will be welcomed as heros, or they can risk injury and death, only to go back to an economically battered Russia with absolutely no prospects for a future life. People tend to do what they are incentivized to do. Lets change the incentives of the game. [link] [comments] | ||
| Ethereum Foundation Releases Grants worth $750,000 to Fund ETH Research Posted: 02 Mar 2022 03:36 AM PST
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| Digitally Native - The Daily Gwei #449 Posted: 02 Mar 2022 06:11 AM PST
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| Posted: 02 Mar 2022 05:33 AM PST
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| How to lose all your money with Metamask phishing attack. Posted: 02 Mar 2022 04:52 AM PST
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| Posted: 02 Mar 2022 07:35 AM PST
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| 🔥Ethical hackers, it's a call for Ukrainian Cyber Defense! Posted: 02 Mar 2022 10:47 AM PST HackenProof has launched a new exploits research program. Report on vulnerabilities in Ukrainian digital infrastructure to help us resist. https://hackenproof.com/ukraine-will-win/call-for-ukrainian-cyber-defense-stop-the-war [link] [comments] | ||
| Posted: 02 Mar 2022 04:40 AM PST Hey guys, so last night I ordered ledge wallet back up version which cost me 180€ and came with both X and S model so that I can use S on the go and leave X in a secure place in case of theft. What do you guys think of this? Was it a good idea? Thanks [link] [comments] | ||
| Why is ethereum not traded on Uphold anymore? Posted: 01 Mar 2022 07:22 PM PST | ||
| As Ethereum Moves To Proof Of Stake, Nvidia’s Cryptocurrency Revenue Falls Posted: 02 Mar 2022 10:12 AM PST
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| What Tokenization Could Do for Ethereum Scaling Solutions Posted: 02 Mar 2022 06:19 AM PST
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| What is Ethereum Whisper? A Guide for Beginners Posted: 01 Mar 2022 09:13 PM PST
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| How to Mint a NFT on Art Blocks! Revealing The Human & Machine’s “END” NFT with Ofir Liberman Posted: 02 Mar 2022 08:48 AM PST I've been wondering before how to buy NFT in art blocks and this video is a huge help for me. I gain more knowledge in this video and I love how Mr Liberman explains the details very carefully. Please check this awesome video here: https://www.youtube.com/watch?v=NrdcMleUZGw #NFT #artblocks #NFTminting #nonfungibletoken #generativeart [link] [comments] | ||
| Posted: 02 Mar 2022 08:33 AM PST Had a chat request from a guy with 1 karma and an 11 day old acct saying he was a mod from here. He wanted to assist me getting a drop of some kind, sounded phishy to me. [link] [comments] | ||
| Posted: 02 Mar 2022 07:17 AM PST
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| $1.7m stolen from simple email phishing: 3 security lessons we can learn from OpenSea attack Posted: 01 Mar 2022 11:54 AM PST
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| Hackers Targeting MetaMask Users with Novel Phishing Scam Posted: 01 Mar 2022 08:33 PM PST
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