Cryptocurrency

My MetaMask Chrome Extension Wallet was hacked. The ETH is gone forever. Even though I can clearly see that address of the wallet that stole it, there's nothing I can do to get it back. I'm just writing this blog post as a warning for anyone who thinks keeping more than a few hundred dollars in a "hot wallet" is a good idea. I always keep a small amount of ETH in my MetaMask wallet to buy virtual goods and NFTs and game tokens, etc. I have been aware that the wallet was vulnerable to attack, but this hack is remarkable. They must have figured out my password – which is hard to do. Here's a chronicle of the events. I'll keep it updated. Continue Reading →

You know how to amass a $1 million fortune investing in NFTs? Start with $5 million. If you are trying to “get rich quick,” stop reading now. There’s nothing here for you. If, on the other hand, you want to dig a little deeper into the most popular use cases for NFTs and the transitional technologies empowering web 3, read on. Continue Reading →

At the annual Gobble Gobble Wobble 5K run, a family-friendly “Turkey Trot” event that brings the community together to get their “tailfeathers moving,” there were a bunch of retail booths selling food, local produce, homemade goods, and arts & crafts. This year, each local artisan had an easy way for you to purchase with a credit card as well as an easily accessible eCommerce site. Three years ago, this was an all-cash shopping zone. This year (if you knew where to look), customer experience, customer service, customer relationship management (CRM), and relatively sophisticated data-gathering were on full display. Which made me wonder about the impact Web 3 and decentralized finance might have on future Gobble Wobblers. Continue Reading →

Crypto developer Matthew Jensen was forced to close his JRR Token business as part of a settlement with the estate of "Lord of the Rings" author J.R.R. Tolkein. The estate’s lawyer, Steve Maier, described the case as a “particularly flagrant case of infringement,” adding that the estate is “pleased that it has been concluded on satisfactory terms.” Continue Reading →

Regarding NFTs, Phil Spencer, Microsoft’s head of gaming, told Axios, "I think there's a lot of speculation and experimentation that's happening, and that some of the creative that I see today feels more exploitive than about entertainment." Continue Reading →

Here's a headline from today's tech news: "Ethereum Game Axie Infinity Launches Ronin DEX, SLP Token Spikes 74% -- The Ethereum-based crypto game just added utility to its sidechain with the Katana DEX—and now its tokens are pumping." If you work in brand marketing, technology, media, or finance and you do not understand every word of the announcement above, it's time to level up. Continue Reading →

Facebook is proposing a new cryptocurrency called Diem. Backed by U.S. Dollars, Euros, and other hard currencies, Diem will be a stablecoin tied to a permissioned blockchain (that one day may become permissionless). Continue Reading →

During an upgrade to the Compound platform, a bug caused the system to transfer close to $90 million in COMP (their cryptocurrency) to random users. In a desperate tweet, Compound’s CEO begged the users to give the money back. He threatened to dox the users. (That’s a slang term for making user identities public or, in this case, reporting them to the IRS.) Then offered a 10 percent reward for “doing the right thing.” Continue Reading →

China has declared all financial transactions involving cryptocurrencies illegal and is issuing a nationwide ban on cryptocurrency mining. Does this make crypto illegal in China? Not exactly. What does this mean for the crypto markets worldwide? What about the US? How will US crypto be regulated? Are cryptocurrencies considered securities? What about other digital assets? Welcome to the crazy, confused world of crypto regulation. Continue Reading →

China's central bank has announced that all transactions of cryptocurrencies are illegal. "Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning they "seriously endanger the safety of people's assets." Continue Reading →