Daily Archives: December 7, 2021

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Swiss cryptocurrency investment manager Ficas and its subsidiary Bitcoin Capital have jointly listed two actively managed digital assets exchange traded products on local stock exchange Six.

Their new 1 Ficas Active Bitcoin and 1 Ficas Active Ethereum ETPs, which invest directly in their respective physical cryptocurrencies, are available to institutional and private investors in Switzerland, Liechtenstein and the EU, except Hungary.

Bitcoin Capital said the listings allowed investors to easily buy the new ETPs via their banks or brokers just as they do with other listed financial investments, such as equities or bonds.

Luca Schenk, chair of Bitcoin Capital, said crypto assets would soon be part of the diversification strategy of many investment portfolios.

This article was previously published by Ignites Europe, a title owned by the FT Group.

He added that his companys two new products, which focus on the two most relevant cryptocurrencies, may, through their active management, improve the overall portfolio risk by reducing underlying volatility.

Bitcoin Capital regards itself as a pioneer in innovative investment products, having launched what it claims was the worlds first listed actively managed crypto ETP, the 15 Ficas Active Crypto ETP, last year.

The company said it was already planning the launch of additional new crypto investment products, adding that the crypto journey will be far from over.

Last week US firm Invescobecamethe largest asset manager to launch a bitcoin ETP in Europe, while smaller domestic rival WisdomTreerolled outthree cryptocurrency basket ETPs for European investors earlier this week.

Fidelity launched a spot bitcoin ETF in Canada last week and Ignites Europe previously reported that UBS and State Street Global Advisors were also looking into the potential for products to offer exposure to cryptocurrencies, such as bitcoin.

*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. It covers everything from new product launches to regulations and industry trends. Trials and subscriptions are available at igniteseurope.com.

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Bitcoin Capital and Ficas team up to launch crypto ETFs on Six - Financial Times

A recent paper authored by members of several universities, including Sydney and Macquarie, argues that recent changes in Ethereum monetary policy are making it a better store of value than bitcoin. The deflationary effect that the EIP-1559 proposal has caused in the issuance of the currency is said to be the main cause of this.

A new paper released by members of Australian universities last month is putting the spotlight on Ethereum and its possible future as a store of value. The paper, titled Better than Bitcoin? Can cryptocurrencies beat inflation?, is authored by Ester Flez-Vias of the University of Technology in Sydney and other academics, and compares the issuance of Bitcoin with the new issuance model of Ethereum, that is making the currency deflationary.

The paper states:

We show that following the recent change in its transactions protocol, the digital currency Ethereum displays a significantly lower net issuance rate of tokens than Bitcoin, achieved by destroying the feesassociated with each transaction.

This has to do with the activation of EIP-1559, a proposal that burns Ethereum in a proportional way to the usage of the network. While this proposal had some opposition when it was presented mainly from miners and mining pools it is now contributing to this new appreciation of Ethereum as a possibly deflationary currency in the future.

The implementation of EIP-1559 has caused the network to burn a significant amount of Ethereum in fees. This change has led to more than one million ETH being put out of circulation after just three months of its implementation on mainnet. Regarding this, the study remarks:

In many cases the amount of Ethereum burned outpaces the networks creation of new tokens, resulting in Ethereum potentially becoming the worlds first deflationary currency. We argue that this provides better inflationary hedging properties than Bitcoin, and Ether may therefore offer a superior long-term value storage than Bitcoin.

Other cryptocurrency projects are adopting similar burning schemes hoping to recreate the same effect. Binance coin recently activated an update to its network that also implemented fee burning. However, Binance coin and Ethereum are fundamentally different: The latter has no cap on its issuance, while Binance coin does have a hard issuance cap.

What do you think about the Better than Bitcoin? Can cryptocurrencies beat inflation? paper and its conclusions? Tell us in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum Might Dethrone Bitcoin as Best Crypto Store of Value, Study Argues Bitcoin News - Bitcoin News

We tend to think of the world as the past, present and future, and as these distinguished moments in time. However, we intuitively know that this is not the case. Instead, we are always in a state of flux, this slow progressive evolution in order to suit humanitys growing needs, knowledge and demands. However, with change comes adjustment, and what we are facing right now is an adjustment to the digital realm, the world of Bitcoin and our digital identity: a crossing of the chasm, a state of change away from the physical realm of traditional finance, legacy structures and the world as we know it. This article is meant to highlight some of these critical hurdles brought up by Raoul Pal and Robert Breedlove in an effort to get the collective consciousness thinking about how we can transition to this digital realm with minimal volatility and entropy.

One thing Raoul and Breedlove bring up many times throughout the talk is the metaverse. Therefore, lets first ensure we are on the same page when it comes to the metaverse. We often hear the metaverse is the future; however, what most deep down the rabbit hole may argue is that the metaverse has been blossoming into existence since the birth of the internet. However, we are only just starting to define it now. Lets go deeper ...

Most of us tend to interpret the metaverse as this digital environment where we hang out in a virtual world- the world Mark Zuckerberg is pushing with his Facebook ads, i.e., Meta. But, I would argue that the metaverse is not this virtual world that it is made out to be, but rather a digital interface to ones digital self. It is our digital identity where we interact with our online social community, manage our digital possessions and store our digital wealth, to name a few aspects which are currently easy to identify. With that being said, this osmosis into the metaverse is not a movement of people away from the physical world into the digital world, but rather a transfer of wealth and identity from the physical realm to the digital realm. Although many people already do and will continue to spend time in digital worlds in video games and social platforms, most of us will still very much be rooted in the physical world for the time being.

Building on this idea, what will happen to physical assets? An assets value is subjective and is worth something usually because it provides value to us in some way or another. At the moment, our physical assets offer greater perceived value than our digital assets. This explains the discrepancy between the value of physical versus digital assets globally, e.g., real estate is worth over $300 trillion while the complete cryptocurrency market cap sits at $2.5 trillion (recently as high as $3 trillion). The question now is, how does this value shift over into the metaverse? This, I believe, is a demographic shift. As our population ages, those in earlier generations with limited exposure to the digital realm (i.e., digital identity, digital assets or digital possessions), will slowly bequeath their wealth to their offspring, which will find greater value as technology evolves in the metaverse. However, it should be noted that you will find utility and value in different areas and offerings within the metaverse depending on your age, values, interests, gender and location. Some people may choose to stay primarily in the physical world if the metaverse doesnt seem to provide ample value to them. Others may dive in headfirst.

Where are we now? We are currently in a state of limbo, one toe in the digital plane and the rest of the body out. Most of us have exposure to the metaverse when it comes to our digital identity, but only a handful of us find greater value in digital assets over physical assets, although this is quickly changing. However, as we see greater adoption, we will also encounter greater hurdles (technological, political, financial etc.). Taking this into account, this shift towards the metaverse isnt something that will happen overnight. As previously mentioned, it is a generational demographic shift that has been underway since the invention of the internet. The transition from handwritten letters to email and social media was just the start. Now we should continue to see the transition of wealth, jobs, and identities to the digital plane.

When can we safely say the metaverse is our reality? Just like inflation impacts everyone differently, as it is dependent on your consumption habits, what you classify as the metaverse is unique to you. There are many ways to measure your presence in the metaverse, i.e., by time, wealth, reputation, interests, job, hobbies or knowledge. With that in mind, some people may argue that we are already in the metaverse due to the amount of time we spend engrossed in technology. On the other hand, others may say we havent reached that inflection point just yet, or that the metaverse will become our reality when:

- We spend more time connected to the digital realm than the physical realm - When digital wealth surpasses physical wealth

- When were able to vote for our politicians in this digital world

- When the majority of jobs are in the digital plane

- When we can digitally upload ones consciousness

...and some will say the metaverse will never become our reality.

My personal belief is that the metaverse is supplemental to our physical existence, and it is not one or the other. The metaverse eases our physical existence by dematerializing our limitations and constraints, such as distance, time, aging, wealth, connection, etc. However, there is and will continue to be an abundance of value in the physical world. But ultimately, this decision of whether we are or arent or what is versus what isnt the metaverse is not for me to decide. Ill pass that one onto you.

Opinions aside, although the definition of what constitutes the metaverse may be subjective, what's not so subjective is that we are and will continue to face hurdles as we see greater adoption.

Every new technology has to cross the chasm to reach mainstream adoption (the chasm is detailed in the image above). During this crossing of the chasm, we see creative destruction take hold, where legacy systems collapse and new technology changes the way we interact with theworld. All new technology has some form of disruption. Its just that some technology is more disruptive than others.

With the introduction of the digital camera, we witnessed the dismantling and disruption of the traditional film market. But from this, we saw the boon of photography and documentation. However, when it comes to cryptocurrencies, we have only just started to scratch the surface of what is possible. Here is an example of some of the sectors this new technology has the potential to disrupt:

- The financial system (banking, remittances, micropayments, credit markets, to name a few) - Social media and digital interaction

- The internet (our digital footprint)

- Voting

- Insurance

From everything mentioned so far, it should be evident that we are in the middle of a major global state change, a transfer of identity, wealth, possessions and interactions from the physical realm into the digital realm. As Raoul and Robert eloquently explain, with this state of change in place, we have to overcome some major hurdles. We need to ensure we are heading in the right direction collectively. Therefore, we should ask ourselves, how do we get there safely, without a consolidation of power or the crippling of our economy? These are a few key questions we have to figure out before conquering the chasm of adoption. Lets touch on a few key hurdles we have to face:

If an asset, such as bitcoin, is our primary currency and store of value and it is wildly outperforming the majority of other investment opportunities, then we will be disincentivized to transact and spend with it. Yes, there will be occasions here and there, but in general, the majority of the world we know will be starved of capital. This will push central banks to intervene and over-regulate in order to stop this capital flight from traditional assets to digital assets, but in doing so, itll only lock people into our failing system, delaying the inevitable and amplifying its negative effects down the line.

Eventually, if we can predominately move across into the digital realm, this problem of capital flight will be solved. At this point, bitcoin will reach market saturation, similar to gold today, where it protects purchasing power but is no longer an asymmetric bet on technology and a failure of the current system. But in the interim, how do we take advantage of bitcoins positive properties while also promoting the exchange of bitcoin between one another?

In the short term, if we were to see a seismic shift of capital away from traditional assets and into digital assets, this starvation of capital from traditional assets would create sizable losses. Suppose traditional assets start facing major losses, while at the same time, there is a lack of transacting in digital assets, creating a reduction in realized gains; then wed have a problem on our hands. We could see a significant decrease in capital gain revenue and an increase in capital losses, further eroding the tax base. This could push policymakers to implement overbearing regulation, resulting in measures such as taxation on unrealized gains. This would stifle the prosperity in the metaverse and limit the transition of individuals to the digital realm.

In the long term, if we embrace a currency such as bitcoin as a legal tender:

1. The government will no longer receive capital gains tax from any appreciation in the value of bitcoin. This would be in line with the fact that a countrys legal tender is not subject to taxation if/when it appreciates/depreciates.

2. We live in an inherently deflationary world, whereby technological advancement allows us to get more for less. Over time this advancement increases productivity and efficiency, causing the cost of goods, services and assets to decline slowly. However, this is only possible under a currency with a fixed money supply (such as bitcoin). The lack of monetary expansion causing dilution would allow the currency to capture these technological gains. This may sound positive; however over time, most assets may decline in price, resulting in increased capital losses, reducing tax revenue.

With that being said, one could argue that by adopting a currency such as bitcoin, the government will no longer be spending in a currency that loses purchasing power one day to the next. Therefore, all tax revenue will go further, making up for this reduction in tax revenue. If that is the case, then this may all come out in the wash. However, we should still be conscious of these potential taxation issues. With that in mind, how do we ensure that assets such as bitcoin are taxed appropriately, but as not to restrict their potential as a solution to our fragile system? And, how do we take into account an increase in capital losses?

We are in the middle of one of the biggest revolutions in human history, and alongside this revolution, we face an assortment of immense deflationary forces such as:

- Demographics (an aging population with limited purchasing power)

- Our major debt burden consuming productive capital

- Technologies such as artificial intelligence (AI) and robots consuming jobs

- Competition in the workforce due to overcrowding of what jobs remain

- Currency debasement, destroying our purchasing power

- Monetary intervention suppressing interest rates and traditional asset returns - Capital flight into the digital realm putting strain on the traditional system

As these forces become more pervasive, it becomes harder and harder for the lower- and middle-income segments of the population to survive. This is a big issue! The majority of the population is under immense pressure as they are being squeezed from all angles. How do we give them a voice, meet their needs and stop them from revolting?

One potential option Raoul proposes is embracing central bank digital currencies (CBDCs), allowing easier implementation of fiscal stimulus such as universal basic income (UBI). By doing so, we could redirect the flow of the capital away from asset owners and into the hands of the most at-risk individuals. This will aid in bridging the gap between the physical and the digital realm for the lower- and middle-wealth percentiles, allowing them to support themselves as these deflationary pressures take hold.

My worry with this view is that CBDCs have the potential to give governments globally immense power and control. If this power is used in the ways mentioned above, then I am all for it. However, if CBDCs are used with the interests of the few in mind, this will only further consolidate wealth and power and could potentially end this utopian decentralized vision of the metaverse. Therefore, is there a way to implement CBDCs but somehow define the boundaries for which they can be used, preventing misuse and the centralization of power?

However, regardless of which route we chose to bridge the chasm, Raoul does bring up a good point: if we are able to transition over to a decentralized metaverse and democratize this incredible technological boon in productivity and innovation, then we may be able to implement a natural form of UBI, where we could monetize our own digital identity. Although this is currently not possible, as our online corporations current structure is to capitalize off of our data by monetizing our every move, a decentralized metaverse shifts this power and revenue generation into the hands of the user.

As technology advances, we are and will continue to see robots and AI replacing our jobs. Additionally, as energy costs slowly trend to near zero, we should see the cost of living slowly decline. Adding in the fact that we are witnessing a giant demographic shift where people have fewer children due to the costly environment we live in, this should cause gross domestic product (GDP) per capita to skyrocket. This could mean we are about to face one of the most productive periods in human history.

However, with costs slowly working their way to near zero and jobs being replaced by technology, resulting in more time on our hands, will this considerable increase in productivity bring about:

1. A decentralized open-source world where we push for equality of opportunity and where technology is shared freely? If so, this could result in a renaissance period with a focus on culture, art, and science leading to immense prosperity, innovation, and growth;

Or,

2. A darker, more centralized productivity boon where the vast majority of the patents pertaining to this powerful technology that now governs our lives is under the control of a few key players? In this case, we would most likely see significant poverty and some of humanitys more challenging times ahead due to the centralization of power and wealth.

On top of all that, we are currently seeing major global exploitation of our digital identities. Not only are we seeing our online data being used in for-profit activities, but we are also seeing targeted media leading to psychological manipulation allowing these large monopolistic entities to sway the population.

Unfortunately, with everything mentioned above, the free market isnt going to solve these hurdles we face in the way we want. It is going to solve them with the total accumulation of wealth in the hands of the few. Therefore, what can we do to ensure this powerful technology of the future is in the hands of the people while also promoting the continuation of free markets?

With all that being said, how we approach these tough questions will define our future. Will crossing the chasm result in a:

a) Decentralized Metaverse? This would be a bright future where creative destruction is encouraged: Where there is a dispersion of power within a decentralized metaverse, brought about by rules and regulations that prevent the destruction and manipulation of the free markets, all while suppressing the overbearing powers of monopolies that asphyxiate competition. It should be noted that we may still have nation-state fiat currencies, but globally, wed embrace an immutable decentralized asset as our world reserve currency. This would lower the cost of living and democratize technology and finance, reducing wealth inequality. But more importantly, it would restrict the centralization of power with a technology that complements our deflationary world.

b) Centralized Metaverse? This would look similar to the current state of play, where a handful of large corporations have overwhelming control over our data and access to vast sums of capital, allowing them to lobby, protect their interests, and influence politics. In addition to the suppression of creative destruction, will we follow in Chinas footsteps and see the rise of CBDCs and social credit scores? This would give the government unfettered access to all our personal data, laying the foundation for the destruction of free markets and suppression of capital flows into any technology that poses a threat to the governments power.

Or will we walk the middle ground just like we have done many times throughout history, experiencing a give-and-take between centralization and decentralization?

We tend to think that when new technologies, such as Bitcoin and the metaverse appear, we all jump on board, and everything is hunky-dory. However, the reality is, if certain events had not happened the way they did, we might not have many of the innovations and advancements we see today. These technologies dont just appear. They are years in the making, a culmination of previous technological progress and human endeavours. They emerge from our experiences, needs and desires, and they are a byproduct of decisions we made ten, fifty, one hundred years ago. With this in mind, coming together as a collective, and understanding the unintended consequences of our choices will help guide us in making more efficient and productive decisions for the future.

The future is bright if we make it.

This is a guest post by Sebastian Bunney. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.

Read the rest here:
Facing The Chasm: The Future Of Bitcoin And The Metaverse - Bitcoin Magazine

MicroStrategy CEO Michael Saylor

Joe Raedle/Getty Images

Other than buying it directly, US-based investors have few options to gain exposure to cryptocurrency tokens like bitcoin and ether.

While multiple futures-based bitcoin ETFs launched over the past two months, they come with high tradings costs that could deviate from the underlying return of bitcoin. And the SEC is showing no signs of giving in to allowing a spot-based bitcoin ETF, which would directly own the underlying cryptocurrency similar to gold and silver ETFs.

But there is one way investors can easily gain exposure to cryptocurrencies without buying the coins directly, and that's through individual stocks, according to JPMorgan. Companies like MicroStrategy and Coinbase, among others have significant exposure to the success crypto broadly and bitcoin specifically.

"Such listed companies have become increasingly popular vehicles for investors to get exposure to the crypto industry," JPMorgan said in a note last week.

These are the 9 stocks with the highest correlation to bitcoin and ether, according to JPMorgan. Relative performance charts were sourced from Koyfin.

9. Bit Minin

Ticker: BTCMMarket Capitalization: $503.6 million3 Month Correlation to Bitcoin: 57.5%3 Month Correlation to Ether: 54.1%

Koyfin

8. Galaxy Digital

Ticker: GLXYMarket Capitalization: $2.5 billion3 Month Correlation to Bitcoin: 52.7%3 Month Correlation to Ether: 60.6%

Koyfin

7. Marathon Digital

Ticker: MARAMarket Capitalization: $5.0 billion3 Month Correlation to Bitcoin: 61.8%3 Month Correlation to Ether: 53.4%

Koyfin

6. Hut 8 Mining

Ticker: HUTMarket Capitalization: $2.2 billion3 Month Correlation to Bitcoin: 61.5%3 Month Correlation to Ether: 58.2%

Koyfin

5. Riot Blockchain

Ticker: RIOTMarket Capitalization: $3.8 billion3 Month Correlation to Bitcoin: 65.3%3 Month Correlation to Ether: 58.7%

Koyfin

4. Hive Blockchain

Ticker: HIVEMarket Capitalization: $1.7 billion3 Month Correlation to Bitcoin: 63.3%3 Month Correlation to Ether: 65.4%

Koyfin

3. Coinbase

Ticker: COINMarket Capitalization: $61.3 billion3 Month Correlation to Bitcoin: 64.6%3 Month Correlation to Ether: 55.3%

Koyfin

2. Bitfarms

Ticker: BITFMarket Capitalization: $1.8 billion3 Month Correlation to Bitcoin: 70.8%3 Month Correlation to Ether: 68.5%

Koyfin

1. Microstrategy

Ticker: MSTRMarket Capitalization: $7.1 billion3 Month Correlation to Bitcoin: 75.8%3 Month Correlation to Ether: 73.6%

Koyfin

Visit link:
Stocks with the highest correlation to bitcoin and ethereum: JPMorgan - Markets Insider

Do you remember the time when a fleeting mention of Bitcoin, stablecoins or even central bank digital currencies by a top-ranking government official was considered major news all over the cryptoverse? Feels like its been forever. As we find ourselves in the midst of digital assets global mainstreaming, such statements come in droves every day and are expected. Randal Quarles, an outgoing member of the U.S. Feds board of governors, warned against overregulating stablecoins and even rebuked some of the conclusions that the Presidents Working Group on Financial Markets had articulated in its November report. Treasury Secretary Janet Yellen admitted to remaining undecided on the issue of the digital dollar, but prospective Fed vice chair Lael Brainard seems to be all in on the CBDC project. It goes without saying that the leading makers of economic policy are deeply immersed in these issues.

Below is the concise version of the latest Law Decoded newsletter. For the full breakdown of policy developments over the last week, register for the full newsletter below.

Meanwhile, the Securities and Exchange Commission is standing its ground on spot Bitcoin exchange-traded funds. WisdomTrees application for a spot BTC product to be traded on the CBOE bZx Exchange became yet another to be turned down by the regulator. The rationale for the decision was familiar as the SECs verdict cited the proposed ETFs sponsors lack of demonstrated capacity to prevent fraud and manipulation and protect investors.

The SEC has been under fire from multiple directions for its discriminatory stance of accepting derivatives-based products based on an assets derivatives while inhibiting the products based on the asset, itself. The latest round of criticism came from asset manager Grayscale Investments in a letter to SEC Secretary Vanessa Countryman where the firm argues that the failure to treat the two types of BTC-based products equally constitutes a violation of the Administrative Protections Act (APA).

Later this week, the U.S. House Committee on Financial Services is calling a hearing focusedsquarelyon digital assets and the future of finance in fact, that is what the hearing is officially called. Top crypto CEOs, including those of Circle, FTX, Bitfury and Coinbase, will climb Capitol Hill to make their case for the benign regulation of the industry and defend its role in the nations economic competitiveness. This could be the biggest opportunity in months for the leaders of the crypto space to catch key lawmakers ears and deliver their opinions and recommendations directly.

The last issue of this newsletter focused extensively on the disconcerting news out of India where a new bill hinted at a possible blanket ban on all private cryptocurrencies. The good news is that things might be less dreadful than they initially appeared. The bills sponsor, former Indian Finance Secretary Subhash Garg, followed up with a statement that the language around the prospective ban was misleading and that the actual shape of the nations crypto regulation will emerge after extensive discussions with stakeholders and industry participants.

Furthermore, a cabinet note obtained by local media suggests that the government had been eyeing a set of regulatory measures around crypto assets rather than an outright ban.

Read more from the original source:
Law Decoded: Bitcoin exchange-traded funds are put on the spot again, Nov. 29Dec. 6 - Cointelegraph

A protester holds up a placard during a rally against new pandemic laws and vaccination mandates in Melbourne on December 4, 2021. ( WILLIAM WEST/AFP via Getty Images)

If you ask the developers behind a new cryptocurrency called Unvaxxed Sperm if theyre opposed to vaccines, theyll claim to be unsure.

Were not anti-vaccine, one of the developers called Jason, who would only provide his first name, told VICE News, claiming that the project is here to ensure the continuity of objective scientific inquiry and the freedom of discourse.

But moments later, another developer who wouldnt reveal his identity and simply goes by the name Fauci, said: To a degree, I'd say we are anti-vaccine.

To be very clear, Unvaxxed Sperm and the people behind it are not anti-vaccine to a degree; they are completely anti-vaccine, baselessly claiming that 90 percent of the population has no need to take a COVID-19 vaccine and advocating that the pandemic can be medicated with alternative remedies like ivermectin, even though the only studies to claim the drug typically prescribed as a horse de-wormer can treat COVID-19 have been retracted.

Unvaxxed Sperm launched just over a week ago and saw explosive growth last Thursday and Friday. However, over the weekend, the price once again plummeted, leaving many in the groups Telegram channel to question the future of the coinwhich trades as nuBTCand whether the whole thing was simply a scam.

Dang, what happened here, one used wrote on Telegram on Monday morning.

The cryptocurrency is a offshoot, or fork, of SafeMoon, a cryptocurrency that went viral earlier this year thanks to the support of celebrities like Jake Paul and KEEMSTAR.

Fauci said he has a group of around seven cryptocurrency veterans'' who are advising him on the project, though he was unwilling to name any of them. When VICE News pointed out that the anonymity surrounding the project could create a sense that this project may be a scam, Fauci said such a situation wasnt unusual in crypto circles, adding that one of the benefits of blockchain technology was privacy and anonymity.

While this is true, that aspect of crypto-culture has also allowed many scammy developers to disappear with people's money without being caught, and has encouraged a trend of promoting so-called doxxed devs to lend a project legitimacy by having a public face.

While SafeMoon promised to make investors rich, the developers behind Unvaxxed Sperm say their plan is to use the meme-able nature of their coin to make it go viral and draw people into their anti-vaccine community, promising big plans that include a pureblood version of Tinder, cryogenically frozen unvaccinated sperm, and something called Project Super Sperm.

Its worth noting, however, that many new projects in crypto seek to draw investors in by touting a vague and unrealistic roadmap of new features and experiences like an app or a game. Some of these promises turn out to be part of a scams lure. Meanwhile, Unvaxxed Sperm's whitepaper page (where project developers typically lay out their schemes in detail) is blank and only says cumming soon.

The developers say they were inspired by the success of a Lets Go Brandon cryptocurrency that gained some momentum last month when right-wing commentator Candace Owens backed it.

It really showed me that political movement can kind of happen on the blockchain, Fauci told VICE News. You can really organize on the blockchain and it's a much harder thing to suppress just because of the decentralized nature of all of it.

Then they saw protesters at an anti-vaxxer protest holding signs that said: Unvaxxed Sperm is the new Bitcoin. This is based on the erroneous belief that in the future, the sperm and eggs of unvaccinated people will be worth a fortune when people realize the COVID-19 vaccines have damaged their ability to procreate.

In fact, studies have shown that getting vaccinated does not affect sperm quality or count. "There is evidence that the vaccine is safe for men and that it does not affect sperm production/quality," Dr. Tony Chen, clinical assistant professor at the Stanford School of Medicine urology department, told VICE News last August.

The developers compare their project to how powerful memes were in the lead-up to the 2016 election, drawing people who werent typically engaged in politics into the Republican Party and in support of former President Donald Trump.

A lot of cryptocurrencies lure investors with promises of benefits that ultimately dont happen. And in Unvaxxed Sperms case, the cryptocurrency is just the beginning of their plans. Next up will be a DAO or decentralized autonomous organization, which the developers say will allow investors to vote on a variety of topics, including which groups or individuals the project should donate money to. This list includes a whos who of anti-vaxxer doctors, influencers, and grifters, who already earn plenty of money from speaking engagements and selling bogus health supplements based on their infamy within the anti-vaxxer community.

The developers also plan to launch a version of Tinder for purebloods. The term purebloodtaken from the Harry Potter bookshas become a rallying cry for unvaccinated people who are trying to reclaim the term as a way to tout their superiority over their jabbed fellow citizens.

From here, however, the projects plans become even more ambitiousand unhinged.

Due for launch in the first half of 2022 is the Freedom Apothecary, an online marketplace where people can buy suppressed supplements and medicines such as ivermectin (using their Unvaxxed Sperm crypto, of course).

And in the third quarter of 2022, they plan to launch Operation Noahs Ark, a repository for cryogenically freezing unvaxxed sperm and eggswhich in a worst-case scenario would be required for the continuity of the human race, Jason said.

Finally, in the last three months of 2022, there will be Project Super Sperm but the developers couldnt say more about this. Its secret, they insisted. We can't really go into that right now; it's kind of a work in progress.

The developers seem convinced that the viral nature of the Unvaxxed Sperm cryptocurrency will help open the eyes of millions of people to the truth about COVID-19 vaccines, claiming that once people begin investigating the community, theyll be quickly convinced.

But a quick trawl through the meme-heavy Telegram channel where investors speak to each other and the developers, its clear that the people who are investing in Unvaxxed Sperm are completely uninterested in hearing about the efficacy of ivermectin and only interested in making money.

When Jason announced Monday morning that Fauci had been hospitalized but plans were progressing as normal and that the price should begin climbing again, one user called Dave responded by writing: Wow. Great fucking news. Time to shill guys.

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Unvaxxed Sperm Is Trying to Become the Anti-Vax Bitcoin - VICE