Many cryptocurrencies are built on blockchain technology, which is a distributed ledger enforced by a distributed network of computers. Cryptocurrencies are distinguished from fiat currencies like the United States dollar or the British pound because any central authority does not issue them, making them potentially impervious to government intervention or manipulation.
What is SafeMoon? The new cryptocurrency and how it compares to DogeCoin and Bitcoin
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Shiller, R. (1981), “Do stock prices move too much to be justified by subsequent changes in dividends?”, American Economic Review 71 (3), 421–36.
Safemoon has a few unique features that have attracted both praise and criticism. For example, the Safemoon smart contract charges a 10% exit fee for holders who choose to sell. Half of this fee is ‘burned’, while the other is redistributed to remaining token holders, theoretically increasing the value of their holdings over time.
The story of cryptocurrency scammer Dr Ruja Ignatova's London flat - and how her purchase was concealed.
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Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales.
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Its market cap and individual unit value consistently dwarf (by a factor of 10 or more) that of the next most popular cryptocurrency. Bitcoin has a programmed supply limit of 21 million Bitcoin.
Andrea Edwards has worked in marketing and communications all over the globe for 20 years, and is now focused on her passion – writing. A gifted communicator, strategist, writer and avid blogger, Andrea is Managing Director of SAJE, a digital communications agency, and The Writers Shop – a regional collaboration between the best business writers in Asia Pacific Main navigation Economics
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Beyond the clampdown by some governments, what bitcoin really needed to achieve sustained success was overall mainstream acceptance. While some financial institutions announced projects exploring blockchain-based solutions, many others balked.
— “Those are among the more visible recent fruits of a well-funded campaign by Mr. Orban in the United States that stretches back a decade and now stands as a case study in how governments around the world seek to shape policies and debates in Washington, sometimes raising concerns about improper foreign influence in U.S. politics.”
That’s the same crowd that has pumped up the prices this year for other crypto like Shiba Inu and Dogecoin.
Another property of Safemoon which has attracted wide criticism is the ownership pattern of the current supply of the token. A large proportion of Safemoon’s total liquidity is owned by members of the founding team. Although these funds are in a so-called lock-up, such concentration of ownership is often a cause for serious concern in the crypto space. In part, this concern is because of the influence that major holders—called whales—have over price movements when they sell.
Bitcoin hit a high of more than $60,000 in April, and the ups and downs since then highlight the cryptocurrency’s volatility in a time when more and more people are interested in getting in on the action. In the weeks between the most recent July low point and its high points in recent weeks, Bitcoin has risen steadily. Again, Bitcoin is very volatile, so these ups and downs are par for the course.