Dow, at the time, simply could not come up with a good reason for the crypto’s insane performance. The only logical explanation: It’s a bubble. His views were especially prescient. He told Bloomberg this month that he made a profit twice due to this canny call.
Virtual currencies. Like fiat currency, virtual currencies such as Bitcoin, Litecoin, and Ether are intended as a medium of exchange that enables two parties to transact business. But there are important differences: No physical coins or bills. Virtual currencies exist only in computer code. Except for visual representation of Bitcoin and altcoins in advertising and displays, and coin-like tokens that may be produced for marketing purposes, there are no actual coins or bills. Not legal tender. Virtual currencies are not legal tender and are not issued or backed by a government. However, many virtual currencies, which are called convertible virtual currencies, can be redeemed for fiat currency on a number of exchanges. No regulation. Virtual currencies are not regulated by any government agency or authority. However, regulation is being considered, especially where virtual currencies function as securities when they’re used to raise capital and when traded on exchanges.
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As we don’t know exactly how to classify them, it’s difficult to attribute a direct causality to a specific factor and a crypto’s rise or dive in value.
CryptocurrenciesAsia crypto sector stays confident despite China regulatory curbs
Argentina’s Energy Secretary in 2002, and subsequently its World Bank representative. Fiscal Fallacies – The Root of All Sovereign Debt Crises: Amar Bhidé & Edmund Phelps
Even if they are on the list the city watchdog is not responsible for regulating them and they don't have any power over how they conduct business with customers.
Consumers could easily assume the advertising of unregulated cryptos has cleared tough hurdles More Cryptocurrencies
Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
The term “miners” relates to the fact that miners’ work literally creates wealth in the form of brand-new cryptocurrency units.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
“They basically walked around showing people with Lambos and talking crap,” said Cora Harrison, a YouTube personal finance influencer. “It was just really random and not what you wanted to see from somebody to invest money with.”
SAFEMOON Price & MarketWhat is SafeMoon?Simetri ReportNetwork & SignalsRecent Tweets
This, for users in the U.S., is rather unfortunate, making it a slower experience overall, perhaps leading to some finding alternatives to Binance.US. While the options in the U.S. are more limited, there are alternatives to Binance.US.
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.
As of November 9, SafeMoon has 2,865,000 holders. There has been a consistent rise in the number of SafeMoon holders over the past two months.