Daily Crypto NewsEDITION #320, 05 October 2021

Facebook, Instagram and WhatsApp are over. DeFi time?

Hey Moni Maker

Today is Teacher's Day all over the world. Of course, all those pictures on Instagram (which recently went down ha-ha) and honey texts from young teachers about the importance of their profession are very cool. But you and I know who the best teachers in this life are. Scam, rekt, buying highs, and panic sales. Those are the real teachers! Those are the real teachers of life!

And Digest, of course. He teaches how to deal with FOMO. Let's go!

Facebook and related services such as Instagram, WhatsApp, Messenger, and Oculus went down for several hours, with the social media giant citing “networking issues” behind the global, widespread outages.

Reports suggest that the outages were tied to DNS issues, with cybersecurity reporter Brian Krebs writing that DNS records were “withdrawn this morning from the global routing tables.” Other reports suggested that Facebook attempted to manually restart servers, and that employees weren't able to enter buildings due to widespread service disruption.

Services are only now starting to come back online, The Verge reports, but it could take hours before global access is restored across all of Facebook’s apps.

It’s one of Facebook’s worst outages to date, affecting the social network’s 2.89 billion global users, as well as those who use its related services. In 2019, Facebook weathered a 14-hour outage, while an outage back in 2008—when the service had just 150 million users—lasted for about a day.

So what?

The Winklevoss brothers, who have a conflict with Zuckerberg not only on ideological grounds, believe that the future of social networks is decentralization. We think so, too.

Especially given the news about the massive data leak of 1.5 billion users to the darknet. Maybe it's a fake. But against the backdrop of all the latest fails, it looks quite plausible.

P.S. Well, everything works now. But for how long it will be?...

We didn't just tell you what they are. We also told you about their subtypes, and why stablecoins are so necessary for traders.

Check the post, share it and like it! Okay, stable follower?

Edward Snowden believes China's ban on cryptocurrencies has strengthened Bitcoin.

"Sometimes I think back to this and wonder how many people bought #Bitcoin then. It's up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency.

China even banned it, but it just made Bitcoin stronger."

So what?

It's so sad, Edward, you didn't get any docs on Bitcoin from special forces…

The U.S Federal Reserve is set to launch a review of the risks and opportunities in launching a central bank digital currency (CBDC) as early as this week, according to a report by the Wall Street Journal.

Officials at the Fed will release a paper soliciting public comment on the matter, the WSJ reported Monday.

A decision is unlikely to be taken quickly given the difference in opinion between Fed officials on the benefits and risks that a CBDC could offer.

Such a report exploring these further was initially expected in September. Fed Chair Jerome Powell stressed on Sept. 22 that one was coming “soon.”

So what?

We're waiting for 1000x!!!!!

BitOasis, a cryptocurrency exchange from the United Arab Emirates, has partnered with the Dubai Police Force to raise awareness about frauds related to crypto investment and trades. The exchange’s partnership with the Dubai Police is intended to help build regulations that will make crypto safe for investors in the region, BitOasis CEO Ola Doudin said. Speaking to Cointelegraph, Doudin stated: “The BitOasis team has been working very closely with policymakers and regulators to build trust and transparency into the crypto ecosystem. Partnering with Dubai Police is also a move in the same direction.”

Tarek Mohammed, head of the virtual asset crime section at the Dubai Police, said that the department is currently undergoing extensive training to understand crypto and blockchain. Mohammed warned local investors from accepting dirhams for cryptocurrencies from anonymous sources.

Dubai or El Salvador?

Castle Craig, the world's first cryptocurrency addiction clinic, has seen a tenfold rise in inquiries for its rehabilitation therapies in the past year.

But the true extent of the problem is unknown, and therapeutic approaches differ, as testimonies from therapists and recovering addicts make clear.

Scotland’s Castle Craig treats those with a craving for crypto—often exacerbated by an addiction to drugs. There are some stories from bros who used to trade and take drugs at the same time.

Make your choice:

Give up crypto forever

Stay FOMO

Hot Wallet is an online wallet that allows user to store, send and receive coins and tokens. Hot wallets have public and private keys and requires to write down and remember your seed phrase consisting 12 or 24 words. Great examples of hot wallets are: Metamask, 1inch wallet, Rainbow and Argent.

And more you can find in our Glossary!

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