Daily Crypto NewsEDITION #260, 12 July 2021

Crypto TikTok ban сheeeeeck

Hey #Moni Maker ⚜️

Today, in 2013, the first Pastafarian community was registered in Russia. Most likely, Pastafarianism was the beginning of post-modernist movements, the purpose of which is to have fun. But by the example of Doge, we can see that the fun can go very far...

We also often have fun at Moni Talks, you know? Ok. Digest. Let's go!

Social media platform TikTok has banned the promotion of various financial services products including investments and cryptocurrency.

According to TikTok’s branded content policy, the promotion of all financial services and products is now globally prohibited.

The platform said its policy included, but was not limited to, lending and management of money assets, cryptocurrency, foreign exchange, pyramid schemes, investment services and get rich quick schemes, including others.

It comes after individuals were warned about taking financial information from TikTok over concerns it could be misleading and catch out younger savers.

So what?

If you don't know, TikTok was used to promote all sorts of scam coins, meme coins, etc. The algorithms of this social network worked perfectly, that's why those who wanted to earn extra money almost found shillers themselves. These shillers were mostly young and beautiful girls who promised 1000x on the project in 5 seconds.

Apparently, many "crypto" tiktokers will have to go back to their usual habitat - the webcam. Or PornHub. They also accept crypto there :)

The FBI issued a warning against upcoming attacks on cryptocurrency exchanges and holders last week. The warning was distributed using the TLP protocol, designed to distribute the desired information with certain groups. It received the Green designation, meaning the FBI allows peers and partner organizations in the crypto community to share this information.

The FBI states there are groups actively tracking vulnerabilities in these companies to take action. It explains these groups are using a group of techniques to achieve these means. These techniques include sim swapping, tech support fraud, and account stealing. The warning also details some recommendations for institutions to maintain their holdings safe: keeping watch on incoming mails and monitor accounts for unusual movements.

The FBI advises cryptocurrency holders to always use two-factor authentication and be aware of the information they share on social media. However, it is very difficult to prevent sim swap attacks.

So what?

FUD or not FUD. That's the question.

But in general, we’re not surprised. Every day someone tries to hack someone in crypto. Some days more often, some days less.

Well, you have to be more careful, yes. Otherwise, you'll feed the scammers. You're not a chef.

Adrian Creon, founder of the German startup Spielworks, spoke out on ETH 2.0:

"Ethereum 2.0 (Eth2) is being pegged as the blockchain Messiah of Ethereum. Newsflash: it's not. The long-awaited changes are not expected to solve core issues that are plaguing the network and forestalling wider adoption."

Adrian highlighted the problems:

- Poor UX;

It will discourage new users from working with NFT and DeFi;

- High gas fees;

- Lack of effective ETH training materials.

Do you support the speaker? Dive in our chat and let’s discuss it!

Recently, Cointelegraph conducted a survey asking readers what they thought of the Internet's content. Do they like it? Do they trust it?

Trust. 61% of those surveyed think news sites don't verify the information.

Money. 46% of respondents would be willing to pay for content if it were more thoroughly vetted.

After creating a piece of content, a news source would timestamp it with a unique hash, which would then be added to a public blockchain for everyone to see. That unique hash — composed of inputs from the title, the date, and the writing itself — would correspond to that specific piece of content. Once the hash is added to the blockchain, it can't be altered. If the piece’s contents are updated or changed, a new hash needs to be created with a different timestamp. Essentially, an individual fingerprint gets created for each piece of content a news organization makes, proving the integrity in an open-source way.

So what?

It means that all the information is right there in the palm of your hand. You won't have to dig through Google for 1000 years.

Convenient!

ERC-721 — is a standard for Non-Fungible tokens in Ethereum Network and is known as NFT. The main property is that every ERC-721 token unique and can not be replaced. Its often used for collectibles, real estate, paintings and art overall. Crypto Punks, Hashmasks, and “Everydays — The First 5000 Days” by @beeple are ERC-721 NFTs.

And more you can find in our Glossary!

And you...buy Bitcoin! 😉 (it's a good time!)