Category Archives: Cryptocurrency

By Rahul PagidipatiIf the rumours are true, Indians will soon be banned from doing what investors in China as well as those in fellow democracies like the US and UK are safely doing: investing in crypto assets or building and backing companies that are using blockchain technology to innovate.

Could we allow blockchain companies, but ban crypto assets? No. All but a few blockchains require a cryptographic token to validate information or power the process. Its like banning a car company from using petrol or a bakery from using flour.

Banning cryptocurrencies, better termed crypto assets, would also stop investment in companies that use crypto tokens to power their technology. Cryptocurrency is a misnomer for crypto assets. If a ban is intended to protect the rupee, it is not necessary. The term cryptocurrency is just a word. Bitcoin is not meant to be a legal tender.

The better term is crypto assets. Bitcoin is like digital gold, and can be regulated like gold. If the aim is to protect Indian crypto investors (the current 7 million plus investors who are interested) from any harm, we should be clear about what investors and the country will lose to gain such a protection.

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First, the assets themselves. Bitcoin introduced decentralised, triple-entry accounting and a value transfer system that reduces rent-seeking, fights corruption and resists inflation. Ethereum is a global, decentralised development platform for applications that improve supply chains, energy management, insurance, healthcare, and caters to other areas of life.

If they did not have crypto in their name, most investors would call them breakthrough technologies worth investing in. Many already do.

What about price volatility and bubbles? New sectors and asset classes are often volatile, but you can reduce risk with a simple, SIP-like cost-averaging strategy: the same long-term value investing that early adopters did in Google, PayPal and Tesla when they were the volatile, bubbly new kids.

A ban could also ban investing in Indian blockchain startups. VCs like Draper, Ayon and Sequoia, known for backing such billion-dollar unicorns, are now investing in Indian blockchain startups. A ban would force them to shut down or move overseas. It could also block Indian investors from opportunities available to their foreign counterparts.

Indian blockchain startups employ thousands and are already making breakthroughs. My company, ZebPay, recently launched ZebLab, with R&D projects in solar energy and other areas. Were part of a thriving ecosystem eager to tackle social and economic problems.

The need for democratic dialogueBlockchain is the new Internet, but what flows through blockchain networks is not bytes of information, but tokens of trust and value, using cryptography to prove they are valid. Thats where the word crypto comes from. Its an anti-fraud technology. New terminology can make innovations hard to understand and trust, but with dialogue, we can learn and decide together.

To promote this dialogue, Indias blockchain companies have launched a website, IndiaWantsBitcoin.org, to let citizens send messages to their Members of Parliament and call for positive regulation to protect consumers and promote innovation.

It is every investors right to dismiss blockchain or crypto as risky or mystical nonsense, but in a democracy like India, should not investors and not the government have the right to make that choice for themselves?

(Rahul Pagidipati is the CEO of ZebPay. Views are his own)

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What will Indian investors lose if govt really bans cryptocurrency - Economic Times

Two weeks ago, a Mumbai-based fan of the Korean pop (K-pop) band BTS realised that she and her connections had been inadvertently following a cryptocurrency account on Twitter. Over the next few days, cryptocurrency-related posts began to show up on the timelines of ARMYAdorable Representative MC for Youth, the term associated with millions of BTS fans.

The BTS fans also noted that quite a few cryptocurrency accounts were being tagged in ARMY giveaways or rewards provided to users selected at random, including albums or merchandise worth $25 to $250 on averagea common practice among K-pop fan clubs. They figured that certain ARMY giveaway hosts were asking them to also follow cryptocurrency handles, without providing any guidance on its potential risks.

Crypto could really use the credibility of a huge following comprising young and active users, especially in an environment where digital currency is in a legal grey area across the world.

Twitter quickly moved to block crypto accounts on the grounds that they had been using inauthentic means to inflate their followers and amplify content.

Smells Like A Scam

Twitterati among the ARMY stumbled upon the scam when some younger members said they had been receiving calls from various countries after clicking on certain giveaway links.

On digging deeper, we found some of the highly followed ARMY accounts had sold their accounts to what seemed like shady cryptocurrency accounts, the Mumbai-based ARMY fan who was following one such suspended account said.

The ARMY accounts username, handle, display picture all had changed to match the crypto vibes.

All ARMY-related posts had been replaced. What remained were posts on crypto, for crypto, and by crypto folks.

Buried under 6,000-plus crypto tweets of the last two months was one BTS-related retweet from 2019, the only thing that could prove it had once been an ARMY account.

The few ARMY accounts hosting crypto-sponsored giveaways were all hyping each other up and urging their followers to engage with the same set of crypto accounts. If they asked fellow ARMY to also follow their new backup accounts, it meant their main account would turn into a crypto account soon.

When ARMY members started questioning these crypto accounts, most either blocked their critics or temporarily deactivated the accounts. Some ARMY accounts, meanwhile, admitted to taking commissions for crypto giveaways and apologised.

If people see suspicious activity, the most important thing they can do is report it to us, the spokesperson added.

Speaking of suspicious activities, a lot of the crypto accounts that the compromised ARMY promoted also had an egg emoji in their Twitter bio and username. Its a mystery we could not solve and decided to file under the dark internet subculture.

Between 2015 and 2018, the internet was rife with giveaway marketing stunts.

Called airdrops, these distributed free crypto coins and tokens as part of an ICO (Initial Coin Offering), an IPO-equivalent for crypto to promote virtual currency.

Many were eventually revealed to be scams.

A lot of these airdrops were just Ponzi and pyramid schemes set up to create a crypto bubble, experts told ET.

Giveaway projects are typically used as growth hacks where every retweet can fetch a 0.01% extra return, say 400 retweets in return for 100 extra coins. They take different formats such as simple meme competitions or follow-back initiatives on Twitter, said Ramani Ramachandran, CEO of Singapore-based blockchain firm ZPX.

Be that as it may, the community is split on the matter, he added, and five out of 10 traders would tell you that a giveaway project is a growth hack and not a scam.

Nonetheless, in 2018, Twitter announced guidelines prohibiting any form of crypto ICO advertisements on its platform.

This time around, however, crypto evangelists reckon that the giveaway scam may not be about cryptocurrency at all. That has made it an even bigger worry.

Scamsters may be looking at youngsters in highly-engaged communities such as gaming, football or K-Pop because they are easier targets, said one crypto evangelist on condition of anonymity.

Why Easier Targets?

A typical scam would involve a link that takes the victim to a third-party website, where it may use a three-pronged approach depending on the type of scam.

One, it may seek a young users credit card or crypto wallet details for potential phishing attacks. Two, their personal details for potential hacking attempts. Three, they may wrongfully charge a subscription fee to dupe young users.

The malicious result is when they hack into a users system, gain access to remote devices and use that for blackmail.

In fact, in the words of one frustrated ARMY member: Ever since we have called out these suspicious giveaway accounts, they have created new accounts and are harassing and calling for blocking of legitimate ARMY accounts. This is happening to other K-pop fan communities as well. We are being targeted for refusing to let them (crypto accounts) use us! We dont want to be dragged into this. We just want our space back.

One-Trick Pony

The shadowy crypto accounts had missed a trick, though.

Little did they know that BTS fans adhere to an unwritten commandment: Thou shalt not make money off BTS.

Ive noticed this common wariness among hardcore ARMY that people are always out to take advantage of ARMY clout and make a quick buck. Its amazing how strict they are about discouraging this, said an ARMY fan from Hyderabad who is in her 40s.

In June last year, when BTS donated $1 million to the Black Lives Matter (BLM) movement, its loyal fan club matched that within a day and donated to the cause.

Our BLM donation made news everywhere. Maybe these crypto guys got greedy and thought it would be easy to make a quick buck out of us, said another Indian-Canadian ARMY fan in her late 30s.

In fact, last week, 34 of the most prominent ARMY fan bases from around the world got together on Twitter to warn gullible ARMY members against these sponsored crypto giveaways, even urging caution with self-funded and ARMY-funded giveaways as well. They also requested members to unfollow and block suspicious accounts.

We have never nor will we ever partner with/participate in/promote/or host sponsored giveaways, they said in a statement.

However, those at the receiving end of these scams look at this as a cop-out on the platforms behalf and question why they should carry the burden of moderating bad elements.

The Indian cryptocurrency community, too, must call out the bad actors and actively discourage low-quality crypto assets, said Nitin Sharma, partner at Antler Global and previously the founder of Incrypt Blockchain.

Recently, the Supreme Court overturned a banking ban on trading crypto assets, triggering a massive influx of new sign-ups and trading activities. But the government is mulling a ban on both the trading and holding of all forms of cryptocurrency.

We firmly believe that the government will sooner than later move towards regulation of cryptocurrency in India rather than banning it altogether, said Nischal Shetty, founder of leading Indian cryptocurrency exchange Wazir X and part of popular cryptocurrency campaign #IndiaWantsCrypto. We want to ensure that when the regulators come, its a cleaner ecosystem than a dirty one to govern and supervise.

(Illustration and graphics by Rahul Awasthi)

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A 'crypto' scam is brewing on Twitter, and social media at large - Economic Times

The worlds No. 1 cryptocurrency hit a record high on Friday, propelling it to a market value above $1 trillion for the first time ever.

A single bitcoin BTCUSD, +0.65% jumped to a record at $$53,910.44, based on prices tracked by CoinDesk, briefly bringing its total market capitalization to a peak at $1,002,547,798,785, according to data from research company CoinMarketCap.com.

Bitcoin was last up 4% on Friday at around $53,734, and has surged over 85% since the beginning of 2021. By comparison, gold prices GC00, +0.32%, which bitcoin often competes against for investment dollars, are down nearly 6% so far this year.

Meanwhile, the S&P 500 index SPX, -0.19% is looking at a year-to-date gain of 4.5%, the Dow Jones Industrial Average DJIA, +0.00% is up 3.3% and the Nasdaq Composite Index COMP, +0.07% is looking at a gain thus far in the year of over 8%.

Bitcoinprice reaching the 1 trillion dollar is the most exciting news of this year, wrote Naeem Aslam, chief market analyst at AvaTrade, in an emailed note. This was long coming and the fact is that we are only 10X away from flipping the gold market cap on its head, he said.

The ascent of the digital asset created just 12 years ago by a person or persons known as Satoshi Nakamoto has been attributed to growing institutional interest in bitcoin and other alternative cryptographically backed assets.

The fervor for bitcoins was given a fresh spark earlier this month when Elon Musks Tesla Inc. TSLA, -0.77% said that it has acquired $1.5 billion in bitcoins in January and that it could accept the worlds No. 1 digital asset for payment in the future.

Late Thursday, Musk via a tweet, further explained his rationale for getting exposure to bitcoins, describing the decision as simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.

Other institutions including PayPal Holdings Inc.PYPL, which back in November opened up its cryptocurrency platform to all U.S. customers after conducting a more narrow rollout, has helped drive bitcoin prices sharply higher in recent weeks and months.

And several high-profile Wall Street investors, including Stanley Druckenmiller and Paul Tudor Jones, have embraced bitcoin. Famed investor Bill Miller, founder of Miller Value Partners, ina letter to clientsearlier this monthpublished on the firms website, reaffirmed his bullish outlook on bitcoin.

One point worth noting is that despite the parabolic move in bitcoins in the recent period its dominance, its share of market value compared against other alternative digital assets, is just around 60%, down from a recent peak around 70% at the start of the year.

That may suggests that other cryptos, like Ether ETHUSD, -6.70% on the ethereum blockchain, are also drawing strong interest among buyers along with bitcoin.

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Bitcoin market value tops $1 trillion for first time ever as crypto price soars - MarketWatch

(Credit: Nvidia)

To help ensure the RTX 3060 reaches PC gamers when it launches next week, Nvidia is tweaking the graphics card's software to handicap its ability to mine cryptocurrency.

Cryptocurrency miners have been buying up the already-limited supply of RTX 3000 series graphics cards, making it nearly impossible for the average consumer to get one. Mining surged in recent months, as the value for Bitcoin and Ethereum tripled.

In response, Nvidia will restrict the RTX 3060s mining capability through the cards official software driver. The computer code has now been redesigned to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50%.

With the launch of GeForce RTX 3060 on Feb. 25, were taking an important step to help ensure GeForce GPUs end up in the hands of gamers, the company wrote in a Thursday blog post.

An Nvidia spokesperson says the handicapping should not affect the RTX 3060's gaming capabilities.

The change promises to free up supplies for the RTX 3060, the most affordable desktop graphics card in the series. But on the flip side, it does nothing to stop cryptocurrency miners from buying the other GPUs in the RTX 3000 generation. (A single RTX 3080 card, for instance, can generate about $357 a month in Ethereum.)

Knowing this, Nvidia created a dedicated line of GPUs specifically designed for professional Ethereum mining. The company calls the upcoming products Nvidia CMP, which stands for Cryptocurrency Mining Processor.

CMP productswhich dont do graphicsare sold through authorized partners and optimized for the best mining performance and efficiency. They dont meet the specifications required of a GeForce GPU and, thus, dont impact the availability of GeForce GPUs to gamers, Nvidia says.

The CMP graphics cards should also appeal to the cryptocurrency crowd by stripping away the PC gaming-related features while optimizing the hardware for mining. For instance, CMP lacks display outputs, enabling improved airflow while mining so they can be more densely packed. CMPs also have a lower peak core voltage and frequency, which improves mining power efficiency, Nvidia adds.

The company plans to release the first CMP cards this quarter, with more to follow in Q2.

As for why Nvidia isn't tackling Bitcoin mining, an Nvidia spokesperson says "Ethereum has the highest global mining yield for any GPU-mineable coin at the moment and thus is likely the main demand driver for GPUs in mining. Other algorithms do not contribute significantly to GPU demand and cannot change quickly due to network effects within a given cryptocurrency."

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Nvidia to Restrict the RTX 3060's Ability to Mine Cryptocurrency - PCMag

Anticipating a ban by the Indian government on virtual currencies, crypto entrepreneurs announced the formation of an industry association that will lobby with the government to stave off a likely ban.

The dedicated crypto entrepreneurs association known as ABCE - Association for Blockchain &, Crypto and Digital asset Entrepreneurs, is aimed to try to bring together a fragmented industry and engage in a dialogue with the government.

"This is an opportunity for the Indian entrepreneurs to create global startups early on. The proposed ban may destroy these young startups giving employment to thousands. To engage in a dialogue with the Government, entrepreneurs have joined hands together to form ABCE, said Sidharth Sogani, CEO of CREBACO Global, a research firm.

"Making this association is essential in getting the industry together, to have a dialogue with stakeholders in the Indian government, regulators and policymakers as their knowledge related to this industry is poor and unclear, said Jagdish Pandya, Chairman at BlockOn Group.

The ministry of finance recently announce that it would table, the Cryptocurrency and Regulation of Official Digital currency Bill, 2021 in the ongoing session of the parliament. The ministry also indicated that it is planning to introduce a ban on trading and investment in private cryptocurrencies and allow the Reserve Bank of India to develop and run its own digital currency, referred to as Central Bank Digital Currency.

Globally, top cryptocurrencies like Bitcoin, Ethereum, and other blockchain-based decentralised assets' are not viewed as private in nature, but rather more as decentralised public assets, traded on public exchanges.

"As an industry, we have been following the global best practices, this has helped us nurture and build a clean crypto ecosystem in India, said Nischal Shetty, CEO of WazirX. When every other country is bringing regulations, India should not be left behind.

The crypto industry believes that banning is not the solution, since most of the developed economies are working towards regulating it so that innovation around this new technology brings maximum fruits to their economies.

As per the research data of CREBACO, the crypto industry in India has a potential to grow to $15 billion with over 10 million active users. The research claims that the industry has the potential to generate tax revenue worth thousands of crores, generate employment opportunities for over 25,000 young and educated professionals, bring foreign direct investments in the country, and provide a livelihood to lakhs of crypto traders, majorly young in age.

"Than many other counties, India is best positioned to take advantage of crypto assets, said Sathvik Vishwanath, CEO of Unocoin. The proposed crypto ban is not balanced in providing opportunities but only looking at how the technology can be misused and India has a lot to lose if it gets through.

"The Indian government and the crypto industry share two sacred values," said ZebPay CEO Rahul Pagidipati. "First, we must protect the people from fraud and harm. Second, we must promote innovation to drive India's global economic leadership.

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Cryptocurrency players form lobby group in a bid to stave off a likely ban in India - Economic Times

Police in the UK arrested eight men on Tuesday as part of an international investigation into a gang that's been hacking celebrities and stealing their cryptocurrency.

The UK's National Crime Agency (NCA) and Europol released statements saying the gang used a technique called SIM-swapping to hack various celebrities over the course of 2020.

The NCA did not reveal the names of the celebrities, but said the victims included "well-known influencers, sports stars, musicians, and their families."

The hackers are believed to have stolen more than $100 million in cryptocurrencies, Europol said, as well as stealing regular cash out of celebrities' bank accounts. Paul Creffield, head of operations for the NCA's National Cyber Crime Unit, said money had been specifically been stolen out of bitcoin wallets.

The NCA added the hackers sometimes posed as the victims by gaining access to their social media accounts.

SIM-swapping is a relatively simple technique that means the hacker convinces the victim's cell phone carrier to transfer their number to a new phone controlled by the hacker. The hacker then typically changes the victim's passwords by getting reset codes sent via SMS. The same technique was used in 2019 to hack Twitter CEO Jack Dorsey's account.

The men arrested in the UK were all aged between 18 and 26, the NCA said. These arrests followed two others earlier this year in Malta and Belgium. Creffield said the hackers could face extradition to the US, as well as computer misuse, fraud, and money laundering charges in the UK.

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Arrests made against gang that stole $100 million in ...

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This article was co-authored by Vinny Lingam. Vinny Lingam is the CEO of Civic Technologies, a blockchain-powered identity protection and management startup. Vinny was awarded the Top Young ICT Entrepreneur in Africa Award in 2006, was on the World Economic Forum for Young Global Leaders in 2009, and was voted one of the top 500 CEOs in the World in 2015. He has a BS in E-Commerce from the University of South Africa. This article has been viewed 31,471 times.

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InvestorPlace

Ethereum (CCC:ETH-USD) is trading over $1,800 as I write this early on Feb. 11. Its up 150% year-to-date (YTD). A similar story is told about Bitcoin (CCC:BTC-USD), the worlds largest cryptocurrency. Source: Shutterstock InvestorPlace - Stock Market News, Stock Advice & Trading Tips When it comes to stocks and other investments, generally, Im not particularly eager to write about them unless Im bullish about their prospects. Ill never short a stock as a result. Its just not in my nature to recommend someone sell a particular investment, especially when theyve bought for the long haul. Sure, Ill make sell calls based on valuation, but more often than not, its for stocks I like that have gotten ahead of themselves. Whats happening in the markets at the moment is unsettling to me. Not because Ive never lived through a major correction; Ive lived through many in my adult life (Im 56). I know from experience that markets always recover. Some, however, take longer than others. 8 Cheap Stocks Under $20 That Could Double Its a big reason why you might want to consider taking profits on your Ethereum bet. Let me explain. History Is a Good Teacher If You Own Ethereum Successful investors are generally interested in history. Thats because so much of what happens in the world repeats itself, over and over, and over. The markets are no different. History gives us perspective. Ben Carlson, one of my favorite financial bloggers anywhere, wrote a piece for his blog, A Wealth Of Common Sense, in March 2019 that discussed the worst entry point in stock market history. I recommend that you read it. Carlson plays with total returns in the markets over various 35-year periods. In one example from 1965 through 1999, the S&P 500 delivered an annual return of 12.4%. In another period from 1984 through 2018, the annual return was a respectable 10.7%, including the 1987 crash. I was one year into a financial services career at that point and figured the world as we knew it was over and done. It wasnt. Carlson compared the 1965 to 1999 period to the performance of the index from 2000 through 2018. That delivered an annual return of 4.9%, or about one-third of the performance over the 35 years. However, thats not his best argument. He points out that to generate a 12.4% return over 35 years from 2000 through 2034, an investor would need to achieve an annual return of 22% between 2019 and 2034 to generate the identical 35-year performance. So, the question you want to ask yourself as you sit on your significant unrealized gains YTD is whether, in 35 years, $1,800 will be considered the worst entry point in the cryptocurrencys history or one of the best. What you do with this analysis should determine whether you bail on your Ethereum bet or not. The Bitcoin Parallel InvestorPlaces Josh Enomoto recently wrote a piece that explained why he had unloaded most of his Bitcoin investment as his personal wall of worry got too hot to handle. Bitcoin is up 60% YTD and 358% over the past year as I write this. In May 2020, Josh discussed the concept of Bitcoin halving. He owned Bitcoin at the time. He held it at the end of 2019. At the beginning of 2019, he owned it. In 2018, he owned Bitcoin, arguing that investors had an opportunity to buy before the price really took off. Using the dates when each of these articles was published, Bitcoin traded at approximately $10,000 (February 2018), $3,800 (January 2019), $7,200 (December 2019), $4,900 (May 2020) and $37,000 (beginning of February). I cant tell you if Josh bought once in February 2018 and held through February 2020, or if he averaged down through 2019 and 2020, but what I can tell you is that $37,000, give or take a few thousand to account for the actual timing of the sale, was his time to bail. You see, when all your money is tied up in volatile investment markets, its difficult to get any peace. While Id never take such outlandish risks, I did have a sizable profit in Bitcoin, Josh wrote on Feb. 10. But as the price kept ticking higher and higher, the pressure got to me. Knowing how wild Bitcoin trading is, I could hold on for dear life and risk losing everything or I could get out while the going was good and take something, anything out of this experience. As Clint Eastwood said in Magnum Force, A mans [or woman] got to know his limitations. Indeed he or she does. I could continue with clichs and quotes for the next several hours. The point is, my colleague, who writes about investments for a living and has for many years chose to exit most of his Bitcoin position for a sizable gain after it had appreciated by 329% over the past year. By comparison, Ethereum is up 547% over the same period. Take from this what you will. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Will Ashworth has written about investments full-time since 2008. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesnt matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden's Presidency The post Heres Why You Might Want to Bail From Your Ethereum Bet appeared first on InvestorPlace.

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All Cryptocurrencies Screener - Yahoo Finance

UPDATE (6/1): You may notice some changes in the feature with the new iOS app release. We're working closely with Apple and will share updates as available.

***

TL;DR: Moons are a new way for people to be rewarded for their contributions to r/CryptoCurrency. Claim your Moons in the new Vault section of the Reddit iOS or Android app! They represent ownership in the subreddit, they are tokens on the Ethereum blockchain controlled entirely by you, and they can be freely transferred, tipped, and spent in r/CryptoCurrency.

Today were launching a new feature in limited communities called Community Points. Community Points are a way for users to be rewarded for their contributions with a unit of ownership in their subreddit. Community Points can be earned, tipped, won, collected, and spent on unique items within a community. Each subreddit has its own stylization of Community Points, and the ones in r/CryptoCurrency are called Moons.

A Moon

How do you get Moons?

Moons are distributed monthly based on individual contributions (comments, posts, etc.) that people make in r/CryptoCurrency. Reddit karma provides a basis for measuring peoples contribution, but the final decision is up to the community.

Initially, 50 million Moons will be distributed based on karma earned in the subreddit to date. The amount distributed each following month will start at 5 million and decrease by 2.5% every cycle, so that the total number of Moons distributed over time will approach a maximum cap of 250 million.

Distribution Schedule

What can you do with Moons?

Moons can be traded freely and used for any number of purposes within the community. At this time, they can be used to display reputation within the subreddit, unlock exclusive features like badges and GIFs in comments with a Special Membership, and add weight to votes in polls.

New Special Membership

On the Blockchain

Moons exist as ERC-20 tokens on the Ethereum blockchain, where they are managed by a suite of smart contracts that handle balances, transfers, distribution/claiming, and purchasing Special Memberships. The smart contracts and mobile apps have been reviewed and audited by Trail of Bits, an independent security firm with blockchain expertise.

As blockchain tokens, Moons are independent of Reddit. Once youve earned them, neither Reddit nor moderators can take your Moons away or decide what you do with them. Theyre all yours.

Community Points are currently on the Rinkeby testnet (through summer 2020). We plan to migrate Community Points to the Ethereum mainnet, and Points balances will be carried over.

Note: If you send Moons to outside non-Reddit wallets or contracts, you are sending them to testnet addresses. These tokens will not show up in outside software (e.g. wallet apps, Etherscan) unless you switch to Rinkeby and use the testnet Moons contract address (0xDF82c9014F127243CE1305DFE54151647d74B27A).

How to get started with your Reddit Vault

The first Moons will soon be distributed to every active contributor in the subreddit with at least 100 karma. You can get started by claiming your Moons in the new Vault section of the Reddit mobile app, which includes more details on the start-up process and how Moons work.

Please note that you will need to set up your Vault the first time you access it, and you will need to be on the latest version of the Reddit app (2020.17.0 or later). We will be rolling the Vault out over the course of the day, so if you dont see it now, please check back later.

See the inspiration for Community Points and get started

We are launching Community Points today in a couple of subreddits that have opted into this experiment and with whom we will be working closely. We are very excited to have you join us in this new beginning and were looking forward to seeing what ideas you have for Community Points. Well be sticking around to answer any questions you have, so please ask away in the comments below. Thank you!

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Introducing r/CryptoCurrency Moons : CryptoCurrency

Miami Mayor Francis Suarez praised the city's governing commission for passing a resolution Thursday that willstudy the feasibility of paying employees in bitcoin, as well as allowing residents to pay fees and taxes in bitcoin.

Bitcoin reached a new record-high value this week as major tech and financial companies eye virtual currencies.

Mastercard Inc. on Wednesday said it is preparing to support cryptocurrencies directly on its network this year, as the company follows the rise of digital assets.

Tesla CEO Elon Musk on Wednesday said he bought Dogecoin for his baby "so he can be a toddler hodler."

Dogecoin is becoming the cryptocurrency of the stars.

Tesla makes a $1.5B bet on bitcoin.

The reckless abandon of the investing world has a new fixation: a cryptocurrency that began in 2013 as a joke, was mostly forgotten, and thanks to a flurry of tweets from Tesla Inc.

Bitcoins emergence as an investment thesis on Wall Street has tarnished some of golds allure.

Less than two days after tweeting that he would be taking a break from the social media platform, billionaire Elon Musk was on Twitteragain Thursday.

Musk said that bitcoin is "really on the verge of getting broad acceptance by conventional finance people" during an interview on audio chat app Club House.

Crypto-asset broker Voyager Digital is opening 100 accounts per minute and has become a ranked app in the Apple Store as a result of volatility from GameStop, according to its CEO.

It has lost 11% so far this week, the biggest drop since a 12% fall in September

Early bitcoin investor Nikki Beesetti explains how a single transaction paid off in a big way.

The mayor of Miami wants to make his city more appealing to the tech industry by embracing bitcoin.

Billionaire Mark Cuban thinks the crypto craze thats sweeping across the investment community is exactly like the 1999-2000 tech bubble.

ANew York Citybar owner has put his two Manhattan establishments up for sale for the asking price of 25 bitcoins, telling FOX Business Network Monday that he believes thecryptocurrency is here to stay.

Bitcoins surge to record levels has become unsustainable, according to one Wall Street pro.

Bitcoin's record run may continue in 2021.

Regulators have bitcoin all wrong, says Twitter, Square CEO Jack Dorsey.

The price of the worlds most popular cryptocurrency traded as high as $31,824 early Saturday, with almost all other markets closed over the first weekend in 2021.

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Cryptocurrency | Category | Fox Business