A Cryptocurrency User Nets $80K Within A Day After Buying A CryptoPunk For A Penny

A crypto client was smart enough to collect $80,000 within a day by selling a Cryptopunk, which he bought without paying a penny. It was revealed through the blockchain records shown by Larva Labs that an anonymous user bought 3860 number CryptoPunk for 99 Wei (which is 99 quintillion of an Ether) recently preceded by the artwork of a cigarette smoking male character had been sold on Thursday in return for 30 Ether (ETH) which counted up to $69, 369 at that time. The buyer then got a chance to resell it in return for $136,675, or 52 ETH, when it was sold.

Jonathan Clark, the co-founder of Float Capital, considered that the CryptoPunk’s former owner might have listed the artwork by mistake at an astonishingly low price rather than putting it into a whitelist for themselves. The purchaser, seemingly in an endeavour to have a grab on the valuable CryptoPunk before the others, submitted more than $57,000 or 22 ETH in bribes via Flashbots (a protocol enabling secret communications among the miners and users). These funds are likely to encourage the miner to prefer a bid over the others.

Some other users talked about it on Twitter, saying it was an intelligent move on behalf of the buyer. A user having an account named ‘JonJon’ commented that it is a rather nice way to profit rather than playing chess. He retweeted a tweet of ‘CryptoPunks Bot’, which mentioned that the aforementioned token was sold for 99 Wei by Larva Labs. JonJon further mentioned it as a blunder to put a CryptoPunk into a general sale rather than making a whitelist trade enabling only them to purchase it.

After purchasing the CryptoPunk as well as reselling it in no longer than six hours, the user acquired revenue of nearly $80,000. Nonetheless, it is clearly shown by this example that they do not lack funds as the very user purchased and re-traded 78 CryptoPunks, which led to a cumulative loss of approximately $10,000.

CryptoPunks, which are popularly considered to be the precursor of numerous nonfungible tokens, comprise low pixelated portrayals of aliens, zombies, apes, and people. In June, a world record has been made by the auction house of Sotheby as a CryptoPunk, which depicted an alien, was sold there in return for $11.8 million.

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EPL Club to Wear DOGE Shirts This Season

Watford F.C. fanatics might “wow” after their club scores in the upcoming EPL season.

Briefly–

• Watford F.C. players will have Dogecoin printed on the shirts in the forthcoming season.
• A cryptocurrency sports betting platform Stake.com sponsors the club.
• Previous, Sportsbet.io, another betting platform, sponsored Watford, thus BTC on the players’ jersey.

English Premier League Watford will have its players wearing Dogecoin shirts in this new season.

That is according to a sports outlet based in British, The Athletic. DOGE will appear on the club’s three gaming shirts.

Keep in mind that Stake.com, a crypto casino, and sports betting platform, will pay for the meme coin’s appearance. The Athletic reported that the deal to be paid in crypto is worth $970,500.

Meanwhile, Stake.com would give away ten million Dogecoin, worth $2 million, to create hype concerning the partnership.

Keep in mind that this is the first time Dogecoin appears in Britain’s prominent sports events. However, Shiba Inu has made its way to such occasions.

Meanwhile, Dogecoin’s loyal fans had sponsored sports and athletes events on multiple occasions since 2014, when DOGE users financed Jamaica’s Olympics team.

Keep in mind that this is not the first crypto deal that Watford receives.

The soccer club has promoted crypto during the 2019-2020 season, wearing Bitcoin shirts. That came after the team partnered with Sportsbet.io, a betting site.

At the time, Watford F.C spokesperson Spencer Field told Decrypt that the team had an ongoing crypto discussion. For instance, the Watford F.C forum saw a crypto thread some three years before.

Today, the forum didn’t discuss meme crypto. However, after the Stake.com agreement on 22 July, some fanatics speculated that the deal involved Dogecoin payment.

As usual, the fans had mixed reactions. One of them commented about the decision by the team to accept crypto payment shortly after the club posted a $35 million loss.

Keep in mind that the crypto space has seen increased adoption this year. Such moves have most investors saying the crypto will define finance in the future. However, volatility remains a challenge.

Will Dogecoin take Watford F.C to the moon?

Share your views below.

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PNC Bank Planning to Offer Crypto in Collaboration with Coinbase

A source claimed that PNC, the USA’s biggest bank, is planning to offer crypto investment services to its client base.  On Tuesday, Coinbase stated that the company is on board with PNC Bank, the fifth-largest bank in the U.S. Both of them are working on a hidden crypto project.

In Tuesday’s letter to shareholders Coinbase wrote that “in recent months, the company has developed ties with market leaders including Elon Musk, PNC Bank, SpaceX, Tesla, Third   Point LLC, and WisdomTree Investments.”  However, Coinbase declined detailed elaboration of the project.

A resource previously claimed that PNC Bank is expected to launch its crypto investment services in the coming quarters.  The service would give the Pennsylvania-based national bank easy access to crypto investments for its customers.  The crypto services plan is only one aspect of PNC’s broader scale planning regarding crypto and digital assets.

PNC is the latest addition to the list of Banks who entered the crypto market, and perhaps the largest bank to form a joint venture with Coinbase, the biggest name of the Crypto Industry.  PNC is already inclined towards crypto-friendly policies and in the future PNC bank will have digital market experts on its payroll.

The position of crypto product manager- will provide PNC with leverage on the crypto market as it explores the “continuous innovation cycle.”  Experts have said that the description of the job tells that PNC’s plans are more than just offering investment services to its client.

The detailed job description emphasized scaling operations for crypto investment capacity and managing operational aspects regarding new crypto ventures. It seems that PNC Bank has a history regarding crypto-centric ventures. Previously PNC Bank joined hands with IBM and Aetna to search medical data blockchain regarding the health sector.

These big market players joined their hands to improve the overall data medical framework through which the highly sensitive data is shared. The plan also included making health claims and transactions more efficient and easily accessible to the customers.

The top leadership said that Bank’s vision is to transform industries by installing state-of-the-art digital technologies to make the industry more efficient and customer friendly. Outside these two crypto aspects, PNC Bank has been working on other blockchain practices as well. PNC also working with other banks to look into Ripple’s x existing crypto transaction services for cross-border payments.

Chris Ward the head of the Bank’s treasury department, said that digital technologies can remove hurdles, repetitions, and administrative costs.

The visions shared by Chris Ward clearly show that PNC Bank considers the digital world as a problem solver and the most decisive factor to shape up the world’s economic trends in coming years. 

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IGC Markets Review – Is IGC Markets Scam or a Legit Crypto Broker?

IGC Markets Review

For decades, people have been trading in the financial markets and tapping into their potential. You can find a horde of success stories about people who made it big in one market or the other. This has always intrigued people, but they didn’t venture into the space due to the barriers to entry that existed before. Fortunately, online trading has eliminated that altogether, giving you unbounded access to the opportunities in the financial markets. You just need to find a broker and do your homework to choose the right one. IGC Markets review can come in handy in this regard.

With every broker claiming to be the best, it is natural for people to feel overwhelmed and not know which one to choose. You have to do your homework to ensure that you choose a broker that can provide you the services you require. The IGC Markets website is undoubtedly convincing and leaves a positive impression, but you need to evaluate their services before you opt for them. After all, this platform is relatively new and was established by MaxxMedia LLC, a company registered in St. Vincent and the Grenadines.

Let’s get started with their evaluation:

The Asset Offerings at IGC Markets

The first aspect of the broker that you need to evaluate is their asset offerings because your profits will depend on the ones you trade. No two platforms have the same offerings, so they need to be checked. You will find more than 200 assets at your disposal when you go with IGC Markets and these are spread across different financial markets. You can trade in some of the world’s largest markets, such as the forex currency market that has a daily trading volume of more than $5 trillion.

The stock, indices, cryptocurrency, spot metals and energies market are some additional options that IGC Markets has provided. These offerings can help you in diversifying your trading portfolio, which reduces the risks inherent in trading and can help you make maximum profits.

The Security Measures at IGC Markets

You should ensure that the broker you choose for trading is a secure one and can keep your money as well as your personal information safe. You will not need to worry about this with IGC Markets because they have implemented robust security measures on their platform. They maintain segregated accounts for their customers to prevent misappropriation and deposit them with reputable banks to prevent theft.

As for safety of information, they use SSL (Secure Socket Layer) technology and data encryption to prevent third-parties from accessing it. Moreover, compliance with AML (Anti-Money Laundering) and KYC (Know-Your-Customer) policies can also be seen at IGC Markets and this adds another layer of security. With these policies, fake accounts can be eliminated and the risks of financial fraud, money laundering and identity theft can also be minimized.

The Trading Platform at IGC Markets

One of the most crucial features of a brokerage is the trading platform they provide to you. This is not the same everywhere, so you need to ensure it is a good one and can meet your trading needs. A web-based trading software has been developed by IGC Markets for its clients’ ease and convenience. It doesn’t need downloading and can be accessed via the browser on any device, whether your desktop PC, or Mac.

Despite the use of cutting-edge technology, it is easy to navigate due to its simple interface. In addition, you will find that IGC Markets has provided a feature-rich environment, which includes trading alerts, market signals, latest news, risk management tools, numerous charting tools and various indicators. A mobile trading app is also given for helping people in trading on the move and staying connected to the markets.

The Final Decision

You will also find prompt and friendly customer support, detailed educational resources, multiple account options and various payment solutions at IGC Markets that can deliver a smooth trading experience.

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Joe Biden’s Bill Slammed by Various Crypto Bulls

There have been loads and loads of crypto regulations proposed over the past few months, and for good reason. While there is no denying that crypto has been incredibly successful for a while, there have been instances where people encountered fraud and various other unfavorable scenarios. One of the most recent regulations came in the form of the bills put forward by President Joe Biden. While most of the bill is fairly straightforward and understandable, there are some sections that crypto bulls did not like.

One of the main things that crypto enthusiasts did not appreciate was a clause present in the multimillion Dollar infrastructure proposed by Joe Biden. According to a large number of people, it painted a less than desirable future for the crypto industry, which is the last thing that the lovers of bitcoin want on their hands. The reporting of crypto trading is arguably the biggest reason behind all of the outrage.

While reporting is completely understandable from the perspective of safety, some people are simply against the idea. Among these people, most of the individuals are well versed with crypto and believe that reporting would only serve to be a roadblock. On the other hand, some crypto enthusiasts think that the bill will only prove to be a good deal and help crypto prosper in the long as well as short run.

What’s more, with the help of a little more data, the Internal Revenue Service in the United States would make sure that there is more tax compliance. This is particularly true for capital gains tax and other different kinds of levies. With all that said, people still remain divided regarding the bill and how it would decide the trajectory of bitcoin and other crypto.

As you would expect, Joe Biden’s bill was met with mixed reactions. While some people believe that it was just a selfish ploy, others think that it is a step in the right direction. Whatever the case, one thing remains for certain, and that is, there could be more regulations headed towards the world of crypto in the near future. However that is not necessarily a bad thing as this industry is booming but it still encounters situations where crypto traders find themselves in trouble.

Well written and most importantly well thought out crypto would prove to be a step in the right direction and invite more people to reap the rewards that various crypto has to offer.

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Is Cardano (ADA) the Real “Ethereum Killer?”

Cardano’s network has seen gains over the past few weeks, having some of its loyal followers referring to the platform as “Ethereum Killer.” Meanwhile, Cardano has some shortcoming that showcases the platform’s weakness.

Remember, a non-profit organization operates Cardano. That way, the crypto platform cooperates with academe to research and update the platform’s features and tools. Also, Cardano refers to its native coin, ADA, as a ‘first third-gen crypto.’ That is because the native token can solve the interoperability and scalability dilemma related to previous crypto projects, including Ethereum and Bitcoin.

Bitcoin has experienced a lot of pressure in the past months due to its high electricity consumption. The issue is that Bitcoin uses the Proof-of-Work consensus, a crypto mining mechanism that is energy-intensive.

Unlike BTC, Cardano uses a Proof-of-Stake consensus. This model uses less energy.

Meanwhile, network scalability is a vital thing that digital assets battle to solve.

Besides Cardano, ETH is now shifting to a Proof-of-Stake model. The ETH 2.0 project, anticipated to launch by the end of next year, has two crucial changes for the platform: staking and sharding. Sharding involves breaking the ETH blockchain into definite ‘shards.’ Every shard can serve independently as a blockchain that hosts transaction validators and ‘smart contracts.’

Moreover, ETH 2.0 miners can use the master nodes to lock up or stake Ether. In such a case, users get the transaction rewards based on the staked Ether by an authenticator. With these changes, Ethereum’s network can solve the carbon problems. Moreover, users will enjoy about 100K transactions every second.

Now, what does Cardano has? Well, each critical update on Cardano’s platform is peer-reviewed, allowing optimal execution. Also, Cardano appears to win the race as far as transaction processing power is concerned. For example, the site’s Hydra solution would speed up the system, completing around 1 million transactions each second. That translates to Cardano processing 10X more transactions than ETH 2.0.

On the other side, Ethereum seems to win in dApps and smart contracts. As market players expect Cardano to launch its ‘smart contract feature, Alonzo upgrade, on August 13, ETH has 2,822 dApps, accounting for 78.3% of the overall ecosystem. With that, Cardano enthusiasts may have to forget about the “Ethereum Killer” phrase for some time.

Will Cardano overtake Ethereum? Share your views below.

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Crypto Community Slams New Infrastructure Bill

The crypto community protested in unison against the bill proposed by Senator last week. The bill proposed raising infrastructure money by imposing a tax on crypto transactions. Furthermore, the bills also changed the legal definition of crypto brokers. Keeping in view the strong opposition from the public, Senators agreed to amend the bill.

The new amendment by a trio of Toomey-Sinema-Lummis allowed the addition of Proof of Work (PoW) miners, proof of stake (PoS) developers, and protocol validators for as parties who effectuate digital currency transfers. This amendment required a unanimous vote from the Senate. However, Senator Richard Shelby single-handedly stopped the change by withholding his vote.

There are many claims and debates as to why Senator Richard Shelby stood out as the only opposing vote to prevent the crypto-friendly amendment. As per Robert Leshner, Shelby is trying to create a blockade since his proposed bill for collecting $50 billion for the military expedition was ignored. Leshner is the creator of Compound Finance, who also revealed that Senator Bernie Sanders opposed his bill.

Some other sources and public figures claim that Senator Shelby has been financed by financial institutions and banks. This group of protestors alleges that Shelby has received donations from said enterprises whose existence is threatened by crypto market growth and development. Ryan Selkis from Messari claims that Shelby wants to score high-paying jobs for his staff on Wall Street.

Senator Shelby Supported Privacy Laws in the Past

The 87 years old Republican Senator Richard Shelby, who hails from the State of Alabama, is about to retire from the Senate. According to speculators, defense and military supplies manufacturers like Citadel, Lockheed, Martin & Boeing, MetLife, and others are included in the list of donors who support Shelby. He has been acting as a representative of his State since 1986.  In the past, Shelby has opposed propositions such as tax increases by Democratic Party members. He was also known to defend blockchain technology for its ability to provide financial privacy to the public. He also voted against a financial regulatory bill in 2010, claiming that government should not collect un-sanctioned financial information. However, his current move indicates that he is not worried about the privacy of the masses anymore.

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