Crypto & Things with Scott Cunningham

With so many hacks, bankruptcies, and now supposed crypto liquidity issues on exchanges, you should never leave your crypto on exchanges or any platforms other than your own wallet. Let’s talk about Celsius & Solend.

The question we aim to answer today is how safe & stable are stablecoins? Let’s dive into some failed examples of algorithmic stablecoins like UST, Basis Cash, and IRON and some new ones like USDD from Tron.

In this part of the series, we will cover algorithmic stablecoins while mainly taking a look at past failed coins like UST that recently caused a crash in the crypto market from Terra by Do Kwan and IRON by Titan Finance which saw a similar demise heavily promoted by Marc Cuban. There are several others we’ll look at but a common theme is these coins depeg and fail.

Here’s a list of all the algorithmic stablecoins shared on CoinmarketCap: https://coinmarketcap.com/view/algorithmic-stablecoin/ - Take a look through the list to see how many are NOT pegged to $1.

First, what is an algorithmic stablecoin - https://coinmarketcap.com/alexandria/glossary/algorithmic-stablecoin. CoinMarketCap’s definition is a sound way of putting it – “designed to achieve price stability as well as balance the circulating supply of an asset by being pegged to a reserve asset such as the U.S. dollar, for example, gold or any foreign currency.” The concept is that you don’t have to provide a backing to the coin or collateralize it, but instead it can be balanced by issuing more coins when the price is over $1 or buying them off the market when it’s under $1 to keep the peg.

TLDR: The simple litmus test for a lot of these coins is to ask how they are able to provide yields. If they claim you can “stake” the cryptocurrency for inflation rewards, then you’re likely just really using a lending mechanism similar to what UST did with Anchor protocol. Every coin says they will be different, and seemingly most have not been.

These are all the different kinds of algorithmic stablecoins to give you a better idea of different protocols trying to address algorithmic stablecoins. However, as you can see by looking on Coinmarketcap, out of the handful of coins that are actually pegged, many have depegged in the past or their connected cryptocurrency has lost so much value that the project has no more confidence in it.

I personally hold HBD though I am still in the process of learning as much as I can about it and will soon be doing another interview with Dan from 3Speak to discuss why HBD is different from other stablecoins. I have dramatically pulled back on how much I rely on any stablecoins until I know more about them, hence all this research.

Do you hold any stablecoins? Do you trust algorithmic stablecoins? Were there just a few bad apples or are all algorithmic stablecoins risky? Let me know what you think about this in the comments below and don’t forget to subscribe!

Find the rest in blog form on Hive, Read.Cash, Publish0x, and more blog sites.

You want to take full advantage of the social platforms out there that use blockchain technology or have crypto monetization. Here are the 13 platforms I used to earn $628.87 CAD worth of fiat & crypto in April as well as some insights.

Time for another update on my investment portfolio and my passive income journey. In this episode, I cover my regular monthly update sharing what I invest in and why. This is amateur investing at its finest!

The questions we aim to answer in this series on stablecoins are how safe and how stable are stablecoins? In this episode, we’ll take a look at several examples of fiat-backed collateralized stablecoins like USDT, TUSD, BUSD, USDC, and more.

This is my 520th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

There are essentially 5 categories of stablecoins and due to the massive amount of research and time needed to go through all of this, I will be doing this in several parts to create a series. This part will cover fiat-collateralized coins like USDT and USDC. The next part in the series will cover algorithmic stablecoins like HBD while taking a look at past failed coins like UST or IRON. In the third part of the series, I will cover crypto-collateralized stablecoins like DAI and commodity-collateralized coins like gold backed stablecoins. In the fourth part of the series, I will get into the future of stablecoins, the concerns around them, what Central Bank Digital Currencies or CBDCs are, and how they could impact crypto. In the fifth and final part of the series, I will do a comparison of all of them and share my thoughts on what I believe to be the best stablecoins.

If you’re interested in how many stablecoins are out there, check out this: https://defiprime.com/stablecoins or https://coinmarketcap.com/view/stablecoin/
This provides a great explanation - https://coinmarketcap.com/alexandria/glossary/stablecoin

For the full breakdown on USDT, TUSD, BUSD, USDC, and more check out my blogs on:
Hive: https://peakd.com/hive-167922/@scottcbusiness/mdiyyyqr
Read.Cash: https://read.cash/@scottcbusiness/how-safe-are-stablecoins-part-1-fiat-collateralized-coins-b3689c67
Publish0x: https://www.publish0x.com/at-scottcbusiness/how-safe-are-stablecoins-part-1-fiat-collateralized-coins-xozgkkq

Alternative video links:
https://d.tube/#!/v/scottcbusiness/QmRoU9i4BnTibozexgmZCKCMCuhT6xJLYnRFRsgSC1J35o
https://rumble.com/v1542r9-how-safe-are-stablecoins-part-1-fiat-collateralized-coins.html
https://odysee.com/@ScottCBusiness:4/stablecoins:50

There are many other fiat-backed stablecoins, but they all generally have the same issues and concerns around things like how centralized they are or how we know that the audits are accurate and that we can trust these entities. It’s not decentralized and it’s not trustless. My main gripe is that stablecoins are meant to offer us better solutions to get in and out of crypto without having to rely on the flawed traditional banking system, but instead may actually just amplify those flaws offering these institutions more control and power over the crypto ecosystem than banks could ever have. I don’t believe fiat collateralized stablecoins are safe or truly stable. However, I do think they are a necessary evil. We will explore other types of stablecoins in the future.

With other failed cryptocurrency stablecoins like Facebook’s Libra being prevented over anti-trust concerns, one has to wonder when the SEC will come after these institutions and how it will impact the crypto market. USDT & USDC sit 3rd and 4th and thus represent a large chunk of the cryptocurrency market. We will get into this in a future episode in the series. Next up will be “algorithmic stablecoins” or non-collateralized stablecoins. In that we will look at coins like UST/LUNA, TITAN/IRON, and more.

Do you hold any stablecoins? Do you trust that any stablecoins are backed to the degree they claim to be? Do you trust Tether as an entity? Let me know what you think about this in t


You want to take full advantage of the social platforms out there that use blockchain technology or have crypto monetization. Here are the 13 platforms I used to earn $412.68 CAD worth of fiat & crypto in March as well as some insights.

This is my 518th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

My total alleged crypto social media income earnings are now up to just over $38,461 CAD not including crypto appreciation after originally receiving the payouts.

I’ve noticed a lot of misleading use of blockchain terms like Web3, blockchain, decentralized, metaverse, etc. The semantics of all of this needs to be discussed because I can only expect it will lead to a lot of people losing money.

This is my 517th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

It seems to me that with a lot of the content I post especially when I dive into decentralization, Web3, the metaverse, and these terms that have been increasingly used as buzzwords that I need to take some time to clarify the semantics of all of this.

It’s become clear that many people are using words like Web3, blockchain, decentralization, and the metaverse for marketing purposes. They are not accurately reflecting what someone would generally assume they mean.

It’s become more apparent to me that there is no clear definition of decentralization and there are so many factors that there is no way to easily classify something as decentralized.

I’ve decided to create a matrix that will serve as a reference to accurately determine if something is decentralized and to what degree on a spectrum. This is particularly being made with blockchain social platforms in mind, but I’m sure most elements could be applied to other projects.

• Can anyone monetize?
• Is there a KYC process?
• Are the tokenomics of the system sustainable?
• Do they have a terms and conditions?
o Do they have something like a “we always still retain the right to ban you” clause?
• Do they sell premium features
o Are they payable without KYC?
• Are there “back-doors” or super administrative users that could log into or manipulate a user’s account in some way?
• What is the initial token distribution/was there a pre-mine or ninja-mine?
• What is the ratio of tokens staked vs liquid tokens? How many people are staking?
• Number of core developers?
• Can you self-host content and or utilize peer to peer technology?
• Number of decentralized application (dapp) developers?
• Can anyone post content and participate? (Is it invite-only)
• Can anyone develop third party applications/tools/services for the platform?
• How challenging/easy is it to fork or clone?
• How is privacy handled?
• Is it open source?
• How concentrated is the wealth of the ecosystem?
• Is their cryptocurrency an actual cryptocurrency?
• Does it support and uphold free speech?
• How are moderation and censorship cases handled?
o Do they go after copyrighted material?
• Is the governance decentralized?
o Is it a DAO?
o Is there a company and or CEO behind the project?
o Is voting transparent while also protecting privacy?
o Is there anything protecting the governance model from an attack?
• Does the project actually use and integrate with a blockchain?
o How many nodes are there?
o How distributed are the nodes?
o What’s the barrier of entry to start a node?
o Are they incentivized fairly without over concentrating wealth to the top nodes?
• Does it use Amazon Web Services, Google, Cloudflare, or another service that could create a single point of failure?
• How many of these factors are trustless versus policies/promises?

Some further questions can be considered to further determine if that platform is also a decent one.
• Is it free to use?
• Does it have working media functionality?
• Are the load times reasonable?
• Is it easy to sign up?
• Is there a decent sized community?
• Are there language filters?
• Do you have to download something to use it?
• Does it have a mobile application?

Did I get anything way wrong? Am I missing anything? What is the best way to measure if something is decentralized? Should decentralization even be the goal? Let me know what you think about this in the comments below and don’t forget to subscribe!

Odysee and LBRY have changed a great deal over the years and as someone who helped endorse them, referred thousands of people, recommended it, and did LBRY first exclusive videos, we need to talk about what has happened to them.

When it started out, there was no KYC of any kind, you could freely earn LBC, it was inexpensive to post content and they gave out enough free LBC for people to still afford to use the platform. They claimed that if you used LBRY the “decentralized” application that it was different from Odysee and that it was in fact decentralized and censorship-resistant. They claimed they were not only a YouTube alternative but a YouTube successor.

That has all changed. TLDR: you have to pay to use the platform, they have ads with no ad share for users, they want you to pay with a credit card, they have KYC, they didn’t payout LBC they promised to creators who promoted them for 2 years, it’s not decentralized, they ban channels, monetization is completely centralized, and basically everything they were championing themselves for doing isn’t really something they offer.

Am I wrong about LBRY/Odysee? Am I missing something? How important are monetization and decentralization? Let me know what you think about this in the comments below and don’t forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all of my referral links here: https://linktr.ee/scottcbusiness

Time for another update on my investment portfolio and my passive income journey. In this episode, I cover my regular monthly update sharing what I invest in and why. This is amateur investing at its finest!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. All my stock information is 100% accurate, but my crypto data may or may not be simulated*

I share everything so you can follow everything I’m doing with 100% transparency. The point of doing all this is to show you that it’s possible and provide some sort of framework that can be followed. This isn’t financial advice, and you shouldn’t exactly replicate my investing. What you should do is figure out what works best for you and stick to the basics of dollar-cost averaging, investing in good assets, avoid liabilities, compounding interest, be frugal, buy low, and sell high.

I cover my rules for investing here: https://bit.ly/3qBgm4p
Here is the breakdown for my investing and budgeting templates: https://bit.ly/3EIGFe6
Investing Spreadsheet Template Link: https://bit.ly/investingtemplate
Income Tracking Spreadsheet Template Link: https://bit.ly/incometemplate
Budgeting Spreadsheet Template Link: https://bit.ly/expensestemplate

Was this helpful for you? What stocks do you invest in? Do you prefer growth investing or building passive income? Do you invest in cryptocurrencies that pay out regularly? Let me know what you think about this in the comments below and don’t forget to subscribe!

👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness
You can find all of my referral links here: https://linktr.ee/scottcbusiness

You want to take full advantage of the social platforms out there that use blockchain technology or have crypto monetization. Here are the 14 platforms I used to earn $455.60 CAD worth of fiat & crypto in February as well as some insights.

This is my 513th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

My total alleged crypto social media income earnings are now up to just over $38,049 CAD not including crypto appreciation after originally receiving the payouts.

For new people in the crypto space, it can be pretty overwhelming to understand all the nuances. Cryptocurrency coins are different from tokens, let’s talk about those differences and why they matter.

Crypto exchanges froze Canadian funds, they froze Russian funds, stablecoins can be frozen in any wallet and transactions can be reverted, banks are freezing assets, you can’t sell or buy Russian stocks. Sound crypto is a must.

This is my 511th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

Crypto exchanges froze Canadians’ funds under emergency orders, banks froze accounts, and bitcoin was blacklisted from centralized exchanges.

Stablecoins aren’t safe because with something like USDT or USDC, we don’t know how accurate their backing is and what’s worse is that it’s more centralized than the banking system where they can easily freeze your funds even in a decentralized wallet and revert transactions.

Banks and stock exchanges are preventing you from trading Russian stocks. Not only are they telling you what you are allowed to invest in, but you also cannot sell your stocks that you had already invested in and are basically forced into losing everything by these institutions.

Exchanges were being demanded to also ban all Russian civilians crypto accounts by the Ukraine Vice Prime Minister: https://twitter.com/FedorovMykhailo/status/1497922588491792386
Almost all exchanges unilaterally said no as he actually suggested that exchanges should sabotage ordinary users. The major concern is that US and western governments could put out legal orders to make this happen and exchanges would have to comply.
Binance however agreed to go after specific users like politicians etc.
Here is an article covering this: https://sanfranciscotribe.com/Home/crypto-exchange-sanctions-exchanges-refuse-to-comply/
https://www.yahoo.com/news/binance-crypto-exchange-refuses-to-freeze-russian-accounts-080546197.html
https://www.cityam.com/crypto-exchanges-refuse-to-ban-russian-users-as-rouble-trading-surges/

Consider this, not having access to your money is more or less fraud or a scam. So these companies that have sanctioned Russian users are basically scamming them. In any other instance, having your access to funds taken away would be a clear scam like Squid game token.

How important is decentralization to you? Do you think it’s under attack? Where do you think we will be in 5 years? What are you doing to stay ahead of the curve? Let me know what you think about this in the comments below and don’t forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness
You can find all of my referral links here: https://linktr.ee/scottcbusiness

Time for another update on my investment portfolio and my passive income journey. In this episode, I cover my regular monthly update sharing what I invest in and why. This is amateur investing at its finest!

Was this helpful for you? What stocks do you invest in? Do you prefer growth investing or building passive income? Do you invest in cryptocurrencies that pay out regularly? Let me know what you think about this in the comments below and don’t forget to subscribe!

You want to take full advantage of the social platforms out there that use blockchain technology or have crypto monetization. Here are the 14 platforms I used to earn $622.16 CAD worth of fiat & crypto in January as well as some insights.

This is my 509th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

My total alleged crypto social media income earnings are now up to just over $37,593.42 CAD not including crypto appreciation after originally receiving the payouts.

I’ve covered SoMee many times before. This is my final warning to stay as far away from anything related to SoMee as possible. Let’s dive into the details.

This is my 508th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

For the full blog breakdown:
Publish0x: https://www.publish0x.com/at-scottcbusiness/somee-s-last-effort-to-take-your-money-xyyrlgg
Read.Cash: https://read.cash/@scottcbusiness/somees-last-effort-to-take-your-money-2eb40990

To be clear, I thoroughly used and tested SoMee for over 2 years. I was using it up until February 11th, 2022, when I decided I would put SoMee to rest as malicious and that they will never improve their platform or fulfill their promises. Their planned incompetence has gotten them very far, but it’s time to call it what it is and leave them for good.

They raised funds and executed what appears to be an exit scam MULTIPLE times. They are now on one of their last iterations of this with Republic and likely again with their DAO and I’d like to protect as many people as possible.

It’s impossible to say how much was actually lost with all of these raises and coin conversions etc. But I think it’s fair to say that almost anyone who invested in SoMee lost money aside from maybe the staff and selected influencers.

This is my last post covering SoMee as I’ve already said everything, I can say about it on multiple occasions. However, while it’s clear that it is, I won’t definitively say it was a scam for my own protection. Watch out and I wish you all the best in your crypto ventures in the future.

Have you ever used SoMee? Did you invest in SoMee or ONG? Do you think I missed anything or got anything wrong? Let me know what you think about this in the comments below and don’t forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all of my referral links here: https://linktr.ee/scottcbusiness

There’s so many things you can do to better set up your finances. I try to do ALL OF THEM. Let’s go through everything that I do to prepare my finances for the worst and how you can too.

This is my 507th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

Is there anything I might have missed? Are you practicing any of these? What’s the best way to protect your wealth and prepare your finances for an emergency? Let me know what you think about this in the comments below and don’t forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness
You can find all of my referral links here: https://linktr.ee/scottcbusiness

Thorchain offers us the solution we’ve been asking for: a truly decentralized swap exchange that utilizes smart contracts. That’s a mouthful and needs some unpacking, so let’s dive into it.

This is my 506th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

In this video I go through using https://sideshift.ai/ which is fantastic, but still not as secure or fast as https://app.thorswap.finance/. This offers you the ability to trade between chains for the first time in decentralized way using smart contracts. While it has much fewer coins, it’s adding more all the time and is very promising. You can invest in its growth so to speak with the Rune token and use it for liquidity etc. I’m mainly just interested in the interoperability this offers provided by the ThorChain blockchain.
It's as simple as connecting with your wallet of choice and then choosing one of the available cryptocurrencies to trade.

You can currently trade Doge, LTC, BTC, BNB, ETH, BCH, RUNE, and several BEP20 and ERC20 tokens. They are working on Luna right now and Monero is the next big coin to be added.

It's a pretty amazing thing that after going from centralized exchanges to exchanges without KYC to swap exchanges that are centralized to decentralized swap exchanges with smart contracts that are on one chain to now finally cross chain swaps.

Have you ever used ThorSwap or invested in Rune? Is there a better decentralized exchange than ThorSwap? What’s your go to decentralized swap exchange? Do you care if a swap exchange uses smart contracts or not? Let me know what you think about this in the comments below and don’t forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness
You can find the rest of my sponsorship, referral, donation, and extra information here: https://read.cash/@scottcbusiness/sponsorships-referral-support-resource-f7efb629

Do you ever get the feeling like you could be interacting with an AI or perhaps the number of likes on a post seems way too inaccurate? 64% of internet traffic in 2021 came from bots so let’s talk about what that means and what the future holds.

This is my 505th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

What is bot traffic and why does it matter? - https://www.cloudflare.com/learning/bots/what-is-bot-traffic/
Bot traffic could be anything from a fake social media account to a click farm to algorithmic trading, to fake web traffic, to malicious hackers. Bots can do a lot of things, but you’ll typically find them doing simple tasks like Facebook’s feed fetcher bot to pull previews for the feed. This bot alone makes up a huge portion of internet traffic and is an example of a good bot. But even in a way, a good bot can be bad because it can act in the wrong way or simply overwhelm smaller websites. Most bot traffic comes from Amazon Web Service and Microsoft Azure which are two massive public cloud systems.

There are several reasons why bot traffic is so important to recognize:
• The majority of trading is algorithmic and done by bots.
• The majority of trading volume on exchanges are made up by bots – Forbes reported as much as 93% on some exchanges in 2018
• Bots run the majority of moderation and censorship programs.
• Bots make up the majority of the internet – aka you don’t know what’s real since more is fake than real.
• The percent of bad bots are increasing.
• Bots can heavily influence and skew data to almost entirely negate the accuracy of online research studies, most notably in healthcare related studies.
• The perception of public consensus and sentiment online is completely fictional.

Do you think 64% of the internet is made up of bots? Do you think it will keep increasing? Have you ever not been sure if you were interacting with a bot? Let me know what you think about this in the comments below and don’t forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

Time for another update on my investment portfolio and my passive income journey. In this episode, I cover my regular monthly update sharing what I invest in and why. This is amateur investing at its finest!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. All my stock information is 100% accurate, but my crypto data may or may not be simulated*

I share everything so you can follow everything I’m doing with 100% transparency. The point of doing all this is to show you that it’s possible and provide some sort of framework that can be followed. This isn’t financial advice, and you shouldn’t exactly replicate my investing. What you should do is figure out what works best for you and stick to the basics of dollar-cost averaging, investing in good assets, avoid liabilities, compounding interest, be frugal, buy low, and sell high.

I cover my rules for investing here: https://bit.ly/3qBgm4p
Here is the breakdown for my investing and budgeting templates: https://bit.ly/3EIGFe6
Investing Spreadsheet Template Link: https://bit.ly/investingtemplate
Income Tracking Spreadsheet Template Link: https://bit.ly/incometemplate
Budgeting Spreadsheet Template Link: https://bit.ly/expensestemplate

Was this helpful for you? What stocks do you invest in? Do you prefer growth investing or building passive income? Do you invest in cryptocurrencies that pay out regularly? Let me know what you think about this in the comments below and don’t forget to subscribe!

👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness
You can find all of my referral links here: https://linktr.ee/scottcbusiness

You want to take full advantage of the social platforms out there that use blockchain technology or have crypto monetization. Here are the 16 platforms I used to earn $856.22 CAD worth of fiat & crypto in December as well as some insights.

My total alleged crypto social media income earnings are now up to just over $36,971 CAD not including crypto appreciation after originally receiving the payouts.

Given that Wonderland DAO’s cryptocurrency $TIME has gone down a lot recently with the latest news, I wanted to talk about the sustainability for projects like these offering 83,000% APY.

This is my 502nd episode/article. I put a great deal of work into this content if you find it valuable, please do like, share, comment and subscribe!

First off, it’s pretty clear that these are Ponzi schemes, scams, or whatever you want to call them. Regardless, we need to go through these because so many people fell for them and got swept up in the grandiose expectations and promises. It’s not only Wonderland either, but there are also other projects with ridiculous staking APYs.

Listed below are some sources and examples of what I’m talking about. These are the bad projects, but that doesn’t mean the space is bad. There is just a lot of media attention and common misunderstanding of what DAOs actually are. Very soon I will also do an episode covering what are DAOs. This is a list of all the DAOs currently: https://coinmarketcap.com/view/dao/

Wonderland.money was found out that their co-founder was also the co-founder of QuadrigaCX and that sent this project spiraling towards 0. Realistically it has always been going to 0 with an APY as of writing this set at 83,000%.
https://www.coindesk.com/markets/2022/01/27/wonderland-rattled-after-cofounder-tied-to-alleged-quadrigacx-190m-exit-scam/
https://www.wonderland.money/ - 83,000%+ APY?

Olympus DAO is another example of something similar to Wonderland with nearly 2000% APY. Previously when I checked it was over 5000%.
https://www.olympusdao.finance/ - 2000% APY?

The first DAO created was hacked - https://www.wired.com/2016/06/50-million-hack-just-showed-dao-human/
https://www.coinopsy.com/dead-coins/the-dao/

The ConsitutionDAO was a complete flop and people lost most of their funds due to fees.
ConstitutionDAO - https://gizmodo.com/is-the-crypto-fueled-plan-to-buy-the-u-s-constitution-1848077239
https://www.vice.com/en/article/qjb8av/constitutiondao-aftermath-everyone-very-mad-confused-losing-lots-of-money-fighting-crying-etc

https://www.investor.gov/protect-your-investments/fraud/types-fraud/high-yield-investment-programs
As the SEC points out, anything over 30-40% is likely fraud and I agree.

Have you invested in any DAOs? What are your thoughts on DAOs? Did you invest in Olympus or Wonderland? Let me know what you think about this in the comments below and don’t forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

With Metaverse tokens taking a -50% dive, I wanted to talk about why what we currently have is not a Metaverse, moreover, all we have is the centralized Metaverse aka the Centraverse.

This is my 501st post, welcome to the journey to financial independence and learning about blockchain!

The Centraverse is my way of referring to what is really the centralized Metaverse. The core concept of the Metaverse is decentralized so it’s important to call what we have now what it really is. There is no single entity that can remove you from the Metaverse in principle, but that’s what we have today.

The real Metaverse is meant to be many digital spaces that are interoperating together. The easiest way to conceptualize this is by referring to the movie Ready Player One where users could port between worlds and bring all their gear and items wherever they went. We currently have nothing like this and the closest we’ve gotten are games like Roblox, Second Life, Nintendo Miis, Snapchat avatars, Xbox avatars, Fortnite, Minecraft, and so on.

With the recent purchase of Activision Blizzard by Microsoft and then announcing cross-platform bans and block lists, I believe this had already started to conceptualize. Microsoft is attempting to become a gatekeeper for the gaming community and with it, locking in its piece of the Metaverse. Also, Gamestop announced they would create NFTs for games and the Metaverse which boosted their stocks by over 25%. This is just more fluff, they won’t be backing the Metaverse but likely just releasing collections and such. Expect more and more to be following suit and cashing in.

The only reason corporations are cashing in is because they have control. If they are able to capitalize on this before we have a truly decentralized Metaverse, then maybe they can capture the masses on their system because in comparison it will perform much better.

Now that you’ve heard everything I had to say, I’d love to hear from you. Is the Metaverse centralized? How long until we see a true Metaverse concept? Will we ever get a decentralized Metaverse? Let me know what you think about this in the comments below and don’t forget to subscribe!

Welcome to the comprehensive guide to the crypto-monetized social platform Bastyon and their cryptocurrency PKOIN. We will cover every aspect of the platform and using the cryptocurrency in this tutorial.

In this guide we will go over the basics of Bastyon: what is Bastyon, profile setup, posting, the content feed, the search feature, settings, video content, and content in general.

We will also cover intermediate features on Bastyon: moderation, the reputation system, your keys, using multiple accounts, earning crypto rewards, KYC requirements, and messenger.

We will also discuss some insights on Bastyon such as the roadmap, whitepaper, cover some statistics & data, and decentralization & anti-censorship technology.

We will briefly cover setting up a node as well as the desktop and mobile applications.

We will also cover PKOIN, the cryptocurrency discussing what is PKOIN, its tokenomics, your wallet, the block explorer, transferring PKOIN, withdrawing & selling PKOIN, buying & depositing PKOIN, and future uses of PKOIN.

Throughout the guide, I will also insert questions and answers I asked directly to the creator for clarification and confirmation.

For the full blog breakdown check it out here:
Publish0x: https://www.publish0x.com/at-scottcbusiness/the-guide-to-bastyon-and-pkoin-xznxqdk
Read.Cash: https://read.cash/@scottcbusiness/the-guide-to-bastyon-pkoin-89a67a34
Hive:

Did this cover everything about Bastyon & PKOIN? Am I missing anything? Have you tried Bastyon before and will you try it now? Let me know what you think about this in the comments below and don’t forget to subscribe!

This is my Bastyon profile + referral link if you want to sign up: https://bastyon.com/scottcbusiness?ref=PLH8biT5rMdvE1zXFhsvNkzphVRK6cNM7p

One of my biggest concerns about AI, the Metaverse, NFTs, robots, and machine automation is that human creativity itself can be replicated, replaced, and outpaced. Let’s talk about the value of creativity today.

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Created 3 years, 6 months ago.

411 videos

Category News & Politics

I am the host of Crypto & Things and a huge social blockchain enthusiast using what I believe to be the next level of social communication. I make educational content, review platforms, share my passive & crypto income journey, and most importantly, I get the opportunity to interview and chat with so many amazing people in the blockchain, cryptocurrency, and tech space every week and share it all with you.

Blockchain social media is the next frontier for digital marketing and presents an opportunity we can capitalize on. The main ones I'm using are LBRY, 3Speak, DTube, Hive, Flote, Cos.TV, Uptrennd, and Publish0x. I strive to pursue doing more on-boarding for social agencies, brands, and influencers to create more opportunities for everyone, doing video series, and growing my brand.

My top achievements:
- In the top 400 most followed on the Steem & Hive blockchains
- LBRY Partner Program Founding Creator & 80th most followed channel
- Worked with over 50 clients across several industries managing over 100 accounts
- Over 6 years of digital marketing experience
- Very Proficient in video editing, graphic design, and a variety of technical and IT-related skills
- 69,000+ followers, 140,000+ engagements, 21,000+ comments, and 12,800,000+ impressions, and 96,000+ video views across all of my networks
- Crypto & Things Podcast Host & Content Creator with over 300 episodes
- David S. Simmonds Entrepreneurship Award 2016
- Public Service Alliance Of Canada Music Grant
- Gary Vaynerchuck follows me on Instagram
- Interviewed & worked with 43 executives & founders of blockchain companies
- I've made videos with popular crypto content creators such as The Moon Carl and Andreas M. Antonopolous
- Writer for the ALTCOIN Magazine, the Cryptocurrency Hub, and BitTube Guest Stories on Medium