Something awful bitcoin crash

Even as the crypto market remains jittery following a selloff over the past few weeks on concerns that the US Federal Reserve is likely to tighten credit, experts remain hawkish on cryptocurrencies in the near term. However, nine of the top 10 digital tokens traded higher on January 26, with Bitcoin and Ethereum gaining over 3 percent each and Solana and Dogecoin rising over 7 percent. With cryptocurrencies considered a speculative asset class, they held out in the peak of the pandemic, although rising inflation and a possible interest rate hike may have caused increased volatility in the crypto markets, with many shying away from risky assets. One factor for the crypto market is the outcome of the two-day US Fed meeting, which will be known later on January Pratik Gauri, founder of 5ire, says investing in crypto as a value proposition or a value-building vehicle will not be affected any time soon.

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WATCH RELATED VIDEO: Bitcoin: 10 Things You Need to Know About The Crash \u0026 How I'm Preparing!

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We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. In recent months you may have heard about something called the metaverse. Maybe Facebook or Epic, or Roblox , or dozens of smaller companies is trying to take it over.

Will you start checking your Facebook feed in Fortnite with a pair of augmented reality glasses? Will your friends invite you to cyber-brunch instead of normal brunch? Time to jack in and figure it out. Lots of other science fiction media includes metaverse-like systems some of them predating Snow Crash. The protagonist is a master hacker who gets in katana fights at a virtual nightclub.

Silicon Valley metaverse proponents sometimes reference a description from venture capitalist Matthew Ball, author of the extensive Metaverse Primer :. Facebook, arguably the tech company with the biggest stake in the metaverse, describes it more simply :. So do lower-profile services like The Sandbox , which incorporates a complex cryptocurrency-based economy as well. People were becoming digital land barons and selling virtual items in Second Life nearly two decades ago.

Schools and businesses have opened satellite campuses in that world and others. Even before that, early virtual worlds popped up in the s with text-based multiuser dungeons or MUDs. Many older worlds also inspired the kinds of utopian predictions we see around the metaverse today. Non-metaverse games like League of Legends or Overwatch make significant changes to gameplay years after release, treating the experience more like a virtual space than a static game. At the same time, virtual and augmented reality have gotten closer to consumer application, even if VR remains niche and AR nascent.

Those are tiny numbers compared to phone and console sales, but huge compared to the practically nonexistent home VR market 10 years ago. Another possible reason is that modern pop culture is built on sprawling and highly intertextual media franchises owned by a few companies that promote their huge intellectual property catalogs as shared universes.

These metaverse visions overlap with the concept of Web3 , a term covering decentralized internet services where users retain more personal control over the data they put online. NFTs are complicated in their own right, and you can read more about them here. Loosely, the thinking goes: NFTs are a way of recording who owns a specific virtual good, creating and transferring virtual goods is a big part of the metaverse, thus NFTs are a potentially useful financial architecture for the metaverse.

Right now these are mostly 2D art used as social media profile pictures. The company Polygonal Mind, for instance, is building a system called CryptoAvatars that lets people buy 3D avatars as NFTs and then use them across multiple virtual worlds. One is to build all the worlds within a single platform like Roblox , where players can do things like accessorize an avatar with virtual gear and use it across different experiences. But this breaks down across worlds that are more technically and aesthetically different.

Even leaving aside wonky problems like file format support, something as simple as a 3D hat model might look good on a Lego-like Roblox character but make no sense on a pixelated avatar from Minecraft. A second option is to manually create a different version of the same asset for every world. Fortnite and Halo both feature Master Chief avatars, for instance, but with a design tailored to each game.

This method can look seamless to users, but it can be a lot of work for developers and not worth the payoff in all cases. A third option, available in the popular virtual world VRChat, is having players or third-party designers upload their own 3D models with a specific set of characteristics. But uploading a model demands more work and technical skill from users. Meanwhile, the developers cede some control over the aesthetic of their space.

And if companies approach them with deals for licensed characters or items, they could find a world already populated by knockoffs. This could change in the future. Epic could try to implement a shared item library for its popular Unreal Engine, for example.

New AI visual filters could tweak a single 3D model to match different world designs the way existing ones turn selfies into anime. People are certainly talking about it that way! Gathering your co-workers around a virtual table in a service like Spatial and Facebook Horizon , for instance, could feel more natural to some people than looking at a grid of Zoom thumbnails.

But many pieces seem as likely to supplement the internet as replace it. A virtual dressing room makes sense if you want to see how an outfit would look on you. A text-heavy, non-real-time internet also has some noteworthy advantages. High-end computers, gaming consoles, and VR headsets that support detailed virtual environments can be expensive. People with mobility issues or slow internet connections might find moving an avatar around a real-time 3D world inconvenient.

And people with low or no vision can use screen readers to access text on webpages, while navigating an environment based on images can be harder. Proponents of new options like NFTs see them as a viable alternative to ad-supported systems, although NFTs have potential negative side effects of their own. This might not come as a shock to fans of Snow Crash , where brands have supplanted nations, or Ready Player One , where pop culture franchises have all but conquered reality.

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By choosing I Accept , you consent to our use of cookies and other tracking technologies. Filed under: Web. Linkedin Reddit Pocket Flipboard Email. So, the metaverse. That started as a science fiction thing, right? Then what is the real metaverse? It sounds like some of these definitions conflict with each other.

An astute observation. Look, I just read an article saying we were all going to live in the metaverse, and I want to know what that means. So is Fortnite a metaverse? Or Facebook Horizon? Or is the metaverse all of them put together? Apple Epic largely lost to Apple, but 35 states are now backing its fight in a higher court. Apps Life is getting out of the business of selling precise user location data. Loading comments Share this story Twitter Facebook.

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Billionaire investor Ray Dalio, founder of the world's largest hedge fund Bridgewater Associates, thinks bitcoin may have a similar fate as gold did in the U. Bitcoin, the largest cryptocurrency in terms of market value, has "proven itself" as its blockchain hasn't been hacked and it has a large following, Dalio said. It's like a digital cash. And those are the pluses. Dalio explained that "every country treasures its monopoly on controlling the supply and demand. They don't want other monies to be operating or competing, because things can get out of control.

That's not necessarily a bad thing, considering BTC is the largest of and we should maybe just ignore the equally dramatic crash in

Experts hawkish on cryptocurrencies in short term

Other cryptocurrencies have come along for the ride, and one of the odder beneficiaries has been Dogecoin—heavily promoted on Twitter in the past couple of weeks by Tesla CEO Elon Musk. Dogecoin started in December , at the peak of the first big bitcoin bubble. The idea was to have fun and be silly with a cryptocurrency that was cheap enough to mess around with—each coin was worth a fraction of a cent. They would tip each other dogecoins for amusing comments. The forum got into charity. They did this just by creating their own magical internet money, selling it for bitcoins, then selling the bitcoins for dollars—which was surprisingly feasible at the height of a bubble. But even fun money is money, and a toy cryptocurrency can be turned into real money; the supply of gullibility is deep, if not infinite. So the shibes started dreaming of getting rich for free—and the hucksters moved in. A fellow called Alex Green joined Dogecoin.

Yanis Varoufakis

something awful bitcoin crash

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Hey guys, it's sasha, everybody is watching the bitcoin price chart trying to figure out where it's going. The price is 48 down after the bitcoin crash from its all-time high in april, but it's also up in the last 12 months.

Listen to the crypto converts

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Other altcoins also followed suit, in a wide crypto sell-off following a two tumultuous weeks for the markets. After all, Bitcoin just underwent a big update last month that should actually greatly enhance its utility. Still, cryptocurrencies are often grouped together with high-multiple tech stocks by many investors -- and those stocks have been hammered recently amid concerns over higher interest rates. Whatever the reason, there was another big factor that exacerbated Bitcoin's plunge Should stock investors be worried they'll be next? Before the sell-off, analysts were concerned about increased leverage in the Bitcoin futures market. What does this mean?

For a year that's been so bad, it's hard not to wonder why the stock of the Covid outbreak, but then something strange happened.

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October is a unique month. In the west, October is a transitional month as autumn slides relentlessly towards winter. It also boasts the only holiday where people are encouraged to dress up, scare each other, and extort candy with threats of mischief.

October: The Month of Market Crashes?

Zero Hedge or ZeroHedge [b] is a far-right [12] libertarian [17] financial blog, [13] [14] presenting staff-written articles and aggregating news and opinions from external sources. Over time, Zero Hedge expanded into non-financial analysis, [c] including conspiracy theories and fringe rhetoric [27] associated with the US radical right , [14] [28] the alt-right , [29] [30] [31] and a pro-Russian bias. Zero Hedge in-house content is posted under the pseudonym " Tyler Durden "; the founder and main editor was identified as Daniel Ivandjiiski. Zero Hedge's first post appeared on 9 January at 4pm, [38] [2] and the domain was registered on 11 January The domain zerohedge.

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The DarkSide ransomware affiliate program responsible for the six-day outage at Colonial Pipeline this week that led to fuel shortages and price spikes across the country is running for the hills. The crime gang announced it was closing up shop after its servers were seized and someone drained the cryptocurrency from an account the group uses to pay affiliates. The DarkSide message includes passages apparently penned by a leader of the REvil ransomware-as-a-service platform. Affiliates also will be required to get approval before infecting victims. The new restrictions came as some Russian cybercrime forums began distancing themselves from ransomware operations altogether. On Thursday, the administrator of the popular Russian forum XSS announced the community would no longer allow discussion threads about ransomware moneymaking programs. This word has become dangerous and toxic.

It's even worse when you realise there's little chance of getting it back. This is the story of how I got my fingers burned in the murky of world of cryptocurrency investment. After a decade as a tech journalist, I liked to describe myself as a "lunchtime-adopter", somebody who acted faster than many, but would never be as smart as the early adopters.

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