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Women to Lead the Next Bull Market
Wanna know why Ethereum's gas fees are so low?
Ethereum gas fees have dropped to near-record lows. Naturally, gas fees will respond to supply and demand. When demand falls, gas fees drop. When demand rises, gas fees go back up. Same as fuel for your vehicle.
Terra LUNA reboot drops 70 percent within hours of launch. After launching at $.5 on Bybit, the price shot up to $30. It has since fallen to the $6 range. One LUNA investor who lost over $2 million got arrested after visiting Terra Co-Founder Do Kwon’s home. Binance said it will list LUNA in its “high-risk” innovation zone. I wouldn’t touch LUNA right now with a 12-foot pole, which is what I use when I don’t touch something with a 10-foot pole.
Mark Zuckerberg’s Meta is the target of a nasty headline. It seems a researcher went into Horizon World, Meta’s virtual world, and was raped. It only took one hour for a couple of avatars to assault her. The city of Seoul is building a 3.9-billion won municipal metaverse so its citizens can access public services. Cointelegraph says the metaverse could create jobs for millions. It will be interesting to see what Meta does about violence in its virtual world. Can virtual rape be prosecuted? Concerning municipal metaverses, that’s an interesting idea. I could see some large cities going that route, but what kind of city services could be delivered virtually? I’d imagine some we haven’t thought of yet.
Interest in NFTs has dropped by 75 percent since January. But that didn’t stop Chanel Lee from quitting her day job to create an NFT collection. Meanwhile, a new creator marketplace has raised $1.4 million in seed money. And Goblintown is worth more than $50 million. One would expect a decline in interest during a bear market. Maybe there will be more interest during the next bull run.
The number of apps claiming to be Web3 have shot up 88 percent since last year. People are flocking to Web3 for the opportunity to create digital assets on demand. Unfortunately, Web3 applications seem to be less secure than Web2 apps. The problem with Web3 isn’t security, or lack of it. The real problem with Web3 is economic. If anyone can create a digital asset, the entire ecosystem will have little economic value. Scarcity drives demand, which drives price. If everyone can create a digital asset, then most digital assets will be worth nothing or next to nothing. That means digital asset investors will have to scrutinize every single project to find the best deals and opportunities. That’s not to say there won’t be any Web3 projects worth investing in. It just means that finding the winners will take a lot of work.
An English Court ordered Magnus Granath to pay self-proclaimed inventor of bitcoin Craig Wright 93,000 pounds.
What does Mark Twain have to do with bitcoin?
Portugal says “No” to crypto taxes.
How to mine cryptocurrency from home with your old computers.
As usual, snark and commentary in italics. If this were not true, I would have told you.
Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.
First published at Cryptocracy. Not to be construed as financial advice.