gm to absolutely everyone.
Bitcoin has finished 8 green candles in a row. If it finishes green everyday until Friday, that’s the longest streak since 2012!
Yes, I’m jinxing it.
I want to kill the bull run.
I just want to stack some SATS okay 😭
Markets
Here are today’s market moves:
Here's what you need to know:
Why is ETH moving to PoS fine, but not BTC?
We all heard about the ETH Merge taking place in July. Devs all around the world have agreed to work on moving ETH from a Proof of Work to a Proof of Stake system. If you want to know what that is, CNBC has got you covered here.
So, why can’t this be done to BTC? 🤔
The use case and purpose of each token is different.
Ethereum is a general purpose smart contract platform, it needs bandwidth to process complex transactions. Moving Ethereum to PoS is an integral step of a plan the Ethereum team has been working on for years, to increase bandwidth and address energy usage and congestion issues that have plagued Ethereum.
Bitcoin doesn't do smart contracts (it does but in a limited way and there are layer2/sidechain solutions like Stacks and RGB), and the price and supply of Bitcoin has given it a role as mostly a reserve currency. It's not like Bitcoin couldn't transition to PoS, but it doesn't have a good reason to do so. They have already gone in the opposite direction with lightning network to address scaling and congestion.
Ronin Network exploiters have stolen $625 million…now what?
If you don’t know what happened to the Ronin Network, I wrote about it here.
Immediately after the attack, observers saw that the hacker used centralized exchanges to both fund and launder the money used for the attack.
This is where they f*cked up!
Adding to that, they have been depositing thousands of ETH to exchanges including Huobi, FTX and Crypto.com
Because these platforms have KYC verification systems, it could be used to discover the hacker’s identity and ultimately force them to return the funds.
Just use XMR, dummies!
Complete noobs, I tell you 😂
I hope they don’t come after me 💀
An update on the ethical hacker who found a massive bug in OpenSea
OpenSea has a bug bounty program where they reward ethical hackers with millions of dollars if a bug on OpenSea is reported to them at the earliest.
With @my0chill though, they offered him just $25k and he declined it.
People on Twitter have been telling him to turn the code into an NFT and list it on OpenSea.
Highest bidder gets the code and exploits OpenSea for unlimited money.
Well played, Twitter 👏
Check this out
Want to be convinced on why to work at a Web3 company? Read this.
Lately, I’ve been digging this account’s threads.
Crypto lingo of the day
Crab Market:
When market is neither Bullish or Bearish and is only moving to the right (like a crab moves) without going either up or down too much, it's considered to be a crab market.
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