Do Kwon And The South Korean Government At Odds

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Around the beginning of the summer, LUNA crashed from a position of over $100.00 to pennies in a matter of hours. The LUNA crash was prompted by the depegging of their stablecoin USD. Around that time, a lot of investors including myself were trying to talk the blockchain eco team into saving the token.

At that time, the founder Do Kwon and his team were adding trillions of tokens to the circulation, which pretty much killed any hope of LUNA being able to recover. There were multiple plans being offered by the community and even by the Binance founder Changpeng Zhao. The first idea was to burn the newly created LUNA tokens, but the problem was the number of tokens. With the new amount being in the trillions, there was no real way, a burn would work.

Keep in mind, that circulation with crypto is everything.

Rumors soon started to come to the surface about the moments before the LUNA crash. It was said that Do Kwon knew about the upcoming crash and offered information to help get some of the investors to cash out before the bulk of the investors were screwed. As new investors entered the community trying to help soften the blow, Do Kwon started to mint new tokens. Sadly, efforts fell by the wayside, and people started to ask about LUNA’s Bitcoin reserve.

After several tweets with the Binance owner, Do Kwon stated that they couldn’t use the reserve. He insisted that he used it to stabilize the USD stablecoin. However, things still didn’t add up. Investigations were called from multiple places and now South Korea has issued an Arrest Warrant according to https://watcher.guru/news/terra-south-korea-issues-arrest-warrant-against-do-kwon.

Due to the ongoing legal issues both LUNC which was the old LUNA and the new LUNA are both dipping in price. People are probably jumping because they do not want a repeat of May. In crypto, trust is perhaps the biggest factor when it comes to investing. If you cannot trust the project or the dev team, it’s hard to feel good about putting your money into their project.

There are questions about the handling of LUNA. Why did Kwon use all his Bitcoin, did he use it to try to save the project, and why did he add trillions of LUNA when people were trying to save the project by investing? Maybe South Korea will be able to get some real answers because most of us would like to know what happened to LUNA!

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The Biggest Threat To Cryptocurrency Is Misinformation

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I think it’s time to address how false information is gaining traction in the cryptocurrency arena. From crypto influencers to prominent YouTubers, many people land themselves in the middle of the crypto misinformation lane.

Over the past month or two, I’ve seen coins pop up with copyright issues and problematic histories. We’ve all heard of the Squid Game coin and how it performed a rug pull gaining millions of dollars off investors. It is listed once again, and people are still investing. These investors are new people looking to get their feet wet in cryptocurrency.

Today Saitama is down because their launch party did not showcase rumored information that people close to the project generated. This move led a lot of investors to take their money and put it elsewhere. The backers of Saitama stated that their Saitamask will be available in two weeks, but this wasn’t the most damning issue. The problem many people encountered was the lack of mentioning exchanges that have been rumored all over Twitter and YouTube.

While the launch mentioned the development of a Saitama blockchain and 6 percent staking rewards plus a few more goodies, it wasn’t enough to keep people from selling. A lot of people with large amounts sold their Saitama and came back in at a lower cost. However, I am more concerned about the new investor.

So I’ve put together a set of tips for people looking to get their feet wet in cryptocurrency.

1. Never believe 100 percent of what you are hearing.

People will often lie to try to get their tokens to the finish line. Research the token and the community chat regarding the token. Make sure you are comfortable with what you are hearing. If you feel like something doesn’t sound right, don’t invest.

2. Do not overlook things like potential copyright issues.

If a token is taking on the name and identification of a well-known show or character, be careful. People stated that there were red flags during the Squid Game token, but many people missed it. The fact that it is back and ready to cheat more people is surprising.

3. Never invest more than you are willing to part with.

I recently purchased a car that was thousands less than the one I initially wanted. The reason I bought my car was that I wanted to free up more money for investing. I’m not going to miss the money I invested because it wasn’t something I was looking to keep in the first place. However, I have heard about people investing their rent, utility money, and other needed funds on crypto. This isn’t smart, and it could cause someone to be homeless down the road.

4. Always Research.

You should read numerous articles and talk to financial advisors before jumping into crypto.

5. Know the difference between cryptos with utilities and meme coins that act as collectibles.

You should familiarize yourself with blockchain information, whitepapers, certifications, NFTs, Swaps, Metaverse, and anything else that new cryptos aim to be. You have to know what you are looking for regarding cryptocurrency.

6. Understand the difference between exchanges.

Not all exchanges are the same, nor are they all safe to use. Some exchanges are swaps that will rely on swapping USDT for Tokens or ETH. Some exchanges like Coinbase, Voyager, and Etoro will allow you to buy your crypto without swapping anything.

7. Pay attention to the bridge.

Some tokens cannot be converted to an erc20 bridge. I live in Texas, and we cannot use Binance, so I do not trade coins that are converted for the Binance bridge. Some people have sent their cryptocurrencies to the wrong wallets due to not understanding the bridge issue.

8. Do not fall for people on Twitter trying to help you get into your acct.

You wouldn’t give a common stranger your bank acct information, so this should be a no-brainer. Do not give anyone access to your wallet. It could cost you millions.

9. Do not spread false information to get your coin ahead of others.

It will prevent future people from wanting to invest and perhaps bring down strict regulations in the future. Keep it simple and let people know that whatever information you have, is a rumor until it isn’t.

10. Have Fun!

I am not a financial advisor.

Kraken Gearing Up To Accept SHIBA INU!

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It is now November 2nd, which means two things are underway. The first thing is we are officially two days into our national novel month. You will have writers looking to try to finish novels in one month. The second thing I am looking forward to is the Shiba Inu listing by Kraken.

They posted a challenge to Shiba Inu investors today about getting likes, and that’s all it took! Shibians were all over it, and within 15 minutes, the exchange had all the likes they needed to answer the challenge. Last night a Twitter account stated that they had inside information regarding a listing from Robinhood that was supposed to take place today, but it didn’t happen.

This is not the first time we have seen misinformation targeting Robinhood and a Shiba listing. Perhaps, the difference is, this time, it came from an account that was respected. The misformation made its way to Youtube by a well-known Youtuber who has been reliable in the past. It just goes to show you that you have to be careful about the information you are getting. At this point, people are trying to gather any information they can get their hands on.

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With all the rug pulls and suspicious tampering with people’s accounts, anyone could find themselves a victim of misinformation. Sadly, this plays with the emotional state of investors and their trust in the new market. Later today, many users expect Kraken to help Shib delete at least one zero. I do not see it happening within 24 hours because it took Shib weeks to delete a zero after it was listed on Coinbase.

However, the exchange does help with the journey towards a new all-time high. I can’t help but wonder if we would be minus a zero today if the premeditated crash didn’t take place two weekends ago. Rumor has it that a group of people got together and started taking money out of SHIB to try to push some fresh life back into Dogecoin. The money was removed to boost Doge back but sadly ended in much of nothing. I hate seeing Dogecoin down because it was my entry into the crypto world, but there are issues.

As an investor, I always felt annoyed that Doge constantly needed to be hyped by Elon Musk. It has to be able to gain and stand on what Dogecoin brings to the table. It’s okay to have fans and cheerleaders, but a coin cannot rely on one person to keep it afloat. Both coins can coexist because they do different things, but manipulation needs to stop. If we are ever going to know what memes can do, we need to let the process run free of manipulation.

Investors have enough to worry about without having to worry about shortages and Trojan Horses from within. This could be a very good week for crypto, or it could show that crypto is too volatile to stand without major regulations. You can bet all eyes will be on Shiba Inu this week.

https://news.bitcoin.com/crypto-exchange-kraken-list-shiba-inu-tomorrow-shib-investors-expect-price-to-pump/

Meanwhile, my Saitama Inu crypto makes me 3 million Saitama coins a day just by looking pretty inside my wallet!! Word on the street is that it will be listed on a major exchange this week. They are having a launch party in about two weeks from now. It is still 0.000000084600! You can still get billions of this baby before the price gets too out of hand. Here’s more information on it. https://saitamatoken.com/

I am not a financial advisor, I do this because I love crypto! Research research research

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Kishu Inu Is Ready To Rock!

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I have billions of this little guy and now he’s rising with Shib. So, let’s talk about where you can get into Kishu Inu if you are looking to get in before the billions are too far from your reach. I was able to get 20 billion for like 93 bucks! If you have a few bucks and you are looking to get into the meme side of cryptocurrency, check out sites like Coinmarketcap.com. Their site has a listing of all the crypto coins being offered, and the sites that offer them. They have all the information you need to help you make a healthy decision on your potential investment. Make sure you are going with exchanges that are solid. Check out the comments and get your verification done prior to sending a lot of money over.

I’ve read some messages on boards about certain exchanges holding investors’ money from their crypto earnings due to verification issues. Some exchanges are just horrible and should be avoided. I’ve seen people post about being locked out of their accounts to never seeing deposits hit their accts. I am not going to give you a list of the good, bad, and horrible because it is 1:30 in the morning. Truth be told, I am only up because I’m waiting for my Bitcoin to fully transfer into my other wallet. I have 2 confirmations to go. GOODIE. However, if you go on the site I mentioned, they have a rating system set up to show which exchanges can be trusted.

I like to tell you guys what I’m into, but I am not telling you to copy me by any means. So here is a link to Kishu Inu’s whitepaper. https://kishu.com/whitepaper/KishuInuWhitepaper.pdf and this is the link to their site. https://kishu.com/ ! It isn’t XRP or Bitcoin! Yet, it is a meme coin and we all know everyone likes meme coins. However, if you are looking to create a new meme coin, I have one little request. Can you make the next one a wyvern? Name it something cool, like Icy, okay maybe the sleep is starting to talk out loud. Anyway, if you have any ideas or currency I should look into next, let me know. I love cryptocurrency. Goodnight.

I am not giving financial advice, I am just telling you what I like.