A NEW anti-vaccine cryptocurrency called ‘Unvaxxed Sperm’ has been blasted as a “scam” after it crashed just two days after launching.
Activists launched the new coin around a week ago, and its crude name is based on the false belief that Covid vaccines affect fertility. There is no medical evidence to support this claim.
One of the coin’s developers – who referred to himself only as ‘Fauci’ – told VICE: “To a degree, I’d say we are anti-vaccine.”
But another insisted they were not, telling the outlet they were “here to ensure the continuity of objective scientific inquiry.”
The value of the coin – which trades as “nuBTC” exploded last week, jumping 500% on Wednesday to $0.000012 according to Coinbase.
But it was slammed as a “scam” by some users on Twitter after the value crashed just two days later.
By Monday at midday, 93.25% of its value had been wiped out, and it was worth just $0.00000081.
It comes as other cryptocurrencies have also seen a slump in recent weeks.
Read our cryptocurrency live blog for the very latest news and updates…
WHY IS BITCOIN BAD FOR THE ENVIRONMENT?
Computers are needed for complex mathematical calculations to put a new Bitcoin into circulation online.
This process is also known as mining.
A lot of energy is needed for Bitcoin mining and some experts are concerned that vast amounts of fossil fuels are being used to create this energy.
WHAT IS A BLOCKCHAIN?
A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit.
This ledger is the foundation of any cryptocurrency transaction.
The cryptocurrency allows people to trade currency or assets digitally outside of any government or bank.
WHAT IS ETHEREUM?
Ethereum is a cryptocurrency that was released in 2015. It’s the second largest after Bitcoin.
In fact, some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market.
It was founded by eight people, one of which is 27-year-old cryptocurrency “celebrity” Vitalik Buterin.
He recently became the world’s youngest crypto billionaire as Ethereum soared in value.
Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.
WHAT IS HBAR CRYPTO?
Hashgraph is similar to a blockchain and was created in 2017 by American computer scientist Leemon Baird.
The Hedera Hashgraph system is a distributed ledger built on Hashgraph and was created by Baird along with Mance Harmon.
HBAR is the cryptocurrency of the Hedera Hashgraph.
The company itself explains: “HBAR is the native, energy-efficient cryptocurrency of the Hedera public network.”
THE MAJOR MEME COINS, PART TWO
Another dog meme that has picked up traction this year has been Saitama inu, whose logo appears to feature a wolf surrounding a human face.
“Tokens like Shiba Inu, Dogecoin and newest gainer Saitama are all a part of the evolution of digital finance in their own unique way,” Chris Kline, chief operating officer and co-founder of Bitcoin IRA, recently told The Sun.
Separately, Tiger King is a meme coin that has picked up strong momentum off the past month, which is based on the popular Netflix series.
THE MAJOR MEME COINS
The surge of the meme coins this year all started with Dogecoin.
That was then followed by Shiba Inu, which both feature the same dog breed in their logos.
The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow.”
Both Shiba and Dogecoin have been popular dog meme coins this year.
WHAT ARE MEME COINS?
A meme coin typically gains off a social media or an internet-based joke.
It all started with GameStop and AMC earlier this year, when a Reddit mob trolled short-sellers by driving up the prices of those stocks.
The memes then spread over to cryptocurrencies – and there are now a few major ones today.
WHAT IS THE ENTIRE CRYPTO MARKET WORTH?
Roughly, the entire crypto market is currently worth around $2.6trillion.
The value of the market going forward is likely to fluctuate, as it greatly depends on what cryptos decide to do next.
EL SALVADOR ADOPTS BITCOIN, CONTINUED
However, those who do not have access to technologies that can carry out Bitcoin are excluded from being required to accept it.
The US dollar and Bitcoin are now the country’s official currencies.
It’s the first time Bitcoin has been adopted as a legal tender in a sovereign nation.
EL SALVADOR ADOPTS BITCOIN
The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.
Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”
DOGEZILLA COIN: THE NEXT ‘MEME COIN’ SEES SURGE
A newly-launched cryptocurrency, DogeZilla has exploded out of the gate.
Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.
Billionaire Elon Musk has also already gotten involved with DogeZilla by posting a tweet.
Replying to a tweet about an underwater mud volcano, he wrote: “Cover story for Godzilla obv.”
WHAT IS DOGEZILLA?
Founded by someone with the alias of 9ZEROES, DogeZilla models itself as a community-based project.
DogeZilla claims it aims to make the crypto space safer for users.
According to DogeZilla’s whitepaper, it has a vault that verifies crypto launches.
It says: “Obviously, it is not a 100% fool-proof method because that simply doesn’t exist in this space, but reducing risk to the highest degree is the purpose of Vault.”
Moreover, users can gather DogeZilla tokens by holding.
Specifically, “5% Holder Rewards are dispersed to all token holders relative to their holding percentages,” DogeZilla claims.
For upcoming projects, DogeZilla is planning to launch an NFTs Invasion Series in early 2022.
Its logo features an amused dog in what appears to be a dinosaur costume.
OMICRON TOKEN SKYROCKETS AFTER NEW VARIANT NAMED
The little-known Omicron token skyrocketed over the weekend, after a new Covid-19 variant was given the same name, before it tumbled as much as 75 percent.
On Friday, the World Health Organization named the new Omicron variant.
Other cryptocurrencies dropped after the announcement, and Bitcoin suffered its worth day in two months on Friday. However, it has since recovered from most of its losses.
WHAT IS NUCYPHER? CONTINUED
This allows users to share private data with a number of others in a secure way.
Holders of its token NU can stake their tokens through the network to run a node, which is responsible for creating and sending information.
Interestingly, NuCypher token is an ERC-20, which means it is built on Ethereum.
WHAT IS NUCYPHER?
NuCypher was founded by Michael Egorov MacLane Wilkison in 2015, but it wasn’t until 2019 when the public testnet for NuCypher’s network was launched.
NuCypher specifically operates as a decentralized key management system that uses blockchain technology.
CAN YOU TRADE CRYPTO ON ROBINHOOD?
Unlike most of its discount rivals, Robinhood offers 24/7 crypto trading through its platform.
Its crypto investors can buy or sell with a market order, which means it’s executed at the current market price.
WHAT TO DO IF YOU’RE WORRIED ABOUT THE ROBINHOOD BREACH
If you’re a Robinhood user, you should definitely be changing your password and make sure it’s a unique one.
Users should also turn on two-factor authentication if they haven’t already done so.
This makes it so anyone accessing your account will also have to provide a one-time code even if they have your email and password.
You should also look out for an email from Robinhood as the company is reaching out to people affected.
It’s unclear if the company will reach out to everyone but it’s important to remain vigilant.
WHAT IS THE ROBINHOOD DATA BREACH?
Users are being warned after a security breach at Robinhood has leaked sensitive information.
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.
The data affected by the leak includes email addresses for about 5 million users. The full names of 2 million users were also leaked.
However, about 310 users suffered a more serious breach, including the release of their names, birthdays, and zip codes.
RISKS OF ROBINHOOD, PART THREE
In July, the platform was also ordered to pay nearly $70million in fines and compensation for misleading customers and outages.
If you are seeking a discount broker and are looking to open an IRA account, you can check out the following platforms: Vanguard, Fidelity, TD Ameritrade, Merrill Edge, among others.
RISKS OF ROBINHOOD, PART TWO
For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.
Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.
RISKS OF ROBINHOOD
When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.
If you’re choosing Robinhood so you can trade stocks and cryptocurrencies – then the game gets even riskier.
Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.
For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.
WHAT IS ROBINHOOD? CONTINUED
Unlike many discounted brokers, the company does not offer individual retirement accounts.
The bulk of Robinhood’s revenue comes from order flow.
WHAT IS ROBINHOOD?
The Robinhood platform operates as a discounted brokerage that offers commission-free trading.
Specifically, users can trade exchange-traded funds (ETFs), individual stocks (including American depositary shares), and options.
You can also trade Robinhood’s stock thanks to the company recently going public at a $1.2billion valuation.
WILL SHIBA INU’S PRICE RISE?
For Shiba in particular, there has been a fair share of volatility this year despite the surge in the past month.
For example, up until October 28, the token hit its last record high of $0.00003641 on May 11.
It’s difficult to predict how Shiba Inu’s price will change in the future, due to a wide number of factors affecting it.
This includes regulatory crackdowns around the world, comments by high-profile individuals such as Musk, and other developments.
WHAT IS SHIBA INU COIN, CONTINUED
Whether you’ve already invested or not, keep in mind that making money through cryptocurrencies or other investments is never guaranteed, even with a popular one like Shiba Inu.
Cryptocurrencies are especially volatile, so their values can crash with little to no notice.