New workplaces, new food sources, new medicine--even an entirely new economic system
A NEWLY launched cryptocurrency DogeZilla has exploded out of the gate – and some are wondering if this will be the next meme coin of preference.
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Bhambhwani, S., S. Delikouras, and G. M. Korniotis (2019). “Do fundamentals drive cryptocurrency prices?”, Working paper .
From a technical perspective, Bitcoin’s price action appears to be contained within an ascending parallel channel that developed since Oct. 4. Every time BTC has risen to this technical formation’s upper boundary since then, it has been rejected and retraced to the pattern’s lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel.
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Identical copies of the blockchain are stored in every node of the cryptocurrency’s software network — the network of decentralized server farms, run by computer-savvy individuals or groups of individuals known as miners, that continually record and authenticate cryptocurrency transactions.
Safemoon is a token on the Binance Smart Chain rather than a coin on its own blockchain. This fact makes purchasing Safemoon very easy. You can swap other tokens for Safemoon on a decentralized exchange (DEX) like PancakeSwap on the BSC.
Cochrane, J. H. (2011), “Discount rates”, The Journal of Finance 66 (4), 1047–1108.
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However, you’ll likely misplace your virtual wallet or lose your coins. There have also been thefts from the websites that exist to store cryptocurrency on the internet. Because the value of cryptocurrencies like Bitcoin can fluctuate dramatically, some people are hesitant to convert “real” money into Bitcoin.
In the case of cryptocurrencies, academia has barely scratched the surface with respect to identifying the determinants of their prices. For example, studies by Cheah and Fry (2015) and Corbet et al. (2018) claim that Bitcoin has no intrinsic value and that its price has persistently exhibited ‘bubble-like’ behaviour. Makarov and Schoar (2018) find that the prices of Bitcoin, Ethereum, and Ripple differ across exchanges for weeks. Outside of academia, the President of the United States recently tweeted that cryptocurrencies are based on “thin air”.1
When that time of reckoning arrives, only the early investors would have enormous profits. If you want to be one among the lucky ones, now is the chance to get on board and hold on for the important day. Every coin has its day and SafeMoon is yet to bask in the limelight. Its day to shine in the sun would arrive soon and early investors would hold on to fistful of dollars.
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In the last 24 hours, Bitcoin peaked at a new record high price of $68,568.85 according to Coinbase.
This may sound like an over-inflated number to many, however, Shiba Inu recently showed that this is within the possibility of the cryptocurrency market. With reasonable timings assumed, $1000 in Shiba Inu would have generated investors over three million dollars.
That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.