Welcome, I’m here today to help educate you on Shia Inu (SHIB), Hopefully I can introduce you to if you are new.
Shiba Inu
The latter is a self-proclaimed “Dogecoin Killer” and meme token exchange platform. It’s banking off of the Dogecoin fame, using the now-famous Shiba Inu face to attract users. Compared to Safemoon, Shiba Inu is a more blatant meme coin.
Recently, the anonymous creators of Shiba coin sent Vitalik Buterin – the creator of Ethereum – 50% of all Shiba in existence, hoping at best that Vitalik would endorse the project or at worst that he’d burn them and generate scarcity. Not wanting to cause drama, Buterin burned (got rid of) 90% of those holdings, donating the last 10% to a covid relief fund in India. That 10% was worth $1.2 billion, and the project value crashed shortly afterward. Users wanting to get in on the next meme coin sensation got rekt.
Today at the time of writing the Token (Pornrocket) is ranked at #2670. On Coin market cap. What is this token about ? Porn obviously. That is not all.
$PORNROCKET will be used as a online platform currency, as the sole payment method for accessing your favourite adult content. Buying videos/images, tipping your favourite creators, private messaging and 1on1 video/audio calls on our content sharing platform will all be facilitated by using our native $PORNROCKET currency.
They proudly position themselves firmly between PornHub and OnlyFans. The app brings the best out of both platforms and merge them together to create the ultimate personal adult experience.
The bespoke platform/application, with endless benefits for both content creators and fans alike, is the reason they visualize PORNROCKET as being the biggest name in the adult entertainment industry in the near future. PornRocket has reportedly recruited over 30,000 creators and fans since it was announced on May 26.
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New adult application PornRocket allows customers to pay with crypto – and rates creators NO service fees A new cryptocurrency and adult content sharing application is established to storm the field, reaching a $45M sector cap inside of the very first seven times of launching. You want the newest information about Crypto? Signal up to […]
Software engineers Billy Marcus and Jackson Palmer created Dogecoin in late 2013. Palmer branded the cryptocurrency’s logo using a meme popular at the time that featured the deliberately misspelled word “doge” to describe a Shiba Inu dog.
“Doge was really started to poke fun at Bitcoin,” said Pat White, CEO of Bitwave. In its early days, a community of enthusiasts arranged publicity stunts to raise Dogecoin’s profile, gathering funds to send the Jamaican Bobsleigh team to the 2014 Olympics, for instance, or sponsoring a NASCAR driver.
In early 2021, Dogecoin gained cult status on Reddit’s WallStreetBets message board—the prime instigator behind the GameStop affair in January—where enthusiasts had promised to propel its value “to the moon” (that was before all discussion of crypto was banned on the subreddit).
Today Dogecoin is no joke, having exploded in value and gained more than 5,000% in 2021. Among its boosters is Tesla CEO Elon Musk, who called Dogecoin his favorite cryptocurrency. Musk also named Dogecoin the “people’s crypto,” and promised to plant a physical Dogecoin token on the moon.
What to do with Dogecoin (DOGE)
Dogecoin is a cryptocurrency that runs on blockchain technology, similarly to Bitcoin and Ethereum. Blockchain is a distributed, secure digital ledger that stores all transactions made using a decentralized digital currency.
All holders carry an identical copy of the Dogecoin blockchain ledger, which is frequently updated with all new transactions in the cryptocurrency. Like other cryptocurrencies, Dogecoin’s blockchain network uses cryptography to keep all transactions secure.
People called miners use computers to solve complex mathematical equations in order to process transactions and record them on the Dogecoin blockchain—a so-called “proof of work” system. In exchange for processing transactions and supporting the blockchain ledger, miners earn additional Dogecoin, which they can then hold or sell on the open market.
Dogecoin may be used for payments and purchases, but it’s not a very effective store of value. This is chiefly because there is no lifetime cap on the number of Dogecoins that may be created by mining—meaning that the cryptocurrency is highly inflationary by design. The blockchain rewards miners for their work by creating millions of new Dogecoins every day, which makes it very challenging for speculative price gains in Dogecoin to hold up over
Cryptocurrencies are the newest alternative to traditional cash. In the past few years, this has gained a lot of popularity, and many large institutions partner with it. But there are a lot of investors who still cannot trust Cryptocurrencies for making a profit. There is good news for them. They can try their luck with Stablecoins in this Cryptocurrency trends.
But before stepping into the world of Crypto, it is vital to have a clear idea about Altcoins and Stablecoins.
What Are Altcoins?
After a few years of its launch, Bitcoin has been started using as the synonym for Cryptocurrency. There are a bunch of Cryptocurrencies other than Bitcoin as an alternative. These coins are called Altcoins.
Bitcoin being the kind there are more than 5000 other Cryptocurrencies in the Crypto world. Among these Altcoins, some coins have been tied with an outside asset such as the US dollar or gold to stabilize their price value. And those coins fall under the category of stablecoins. For more information you can visit try this website
What Are Stablecoins?
There is a specific type of Cryptocurrencies. The value of these Crypto coins is tied with more stable assets, like gold or dollars, for stabilizing the price. These types of Cryptocurrency are called Stablecoins.
In order to handle the irregular price fluctuations of Cryptocurrencies, some of the coins are ties with other more assets that are more stable. In most cases, the asset is fiat. Do you know about fiat? Yes, you do. Fiat is the general currency that is issued by the government for our day to day use.
For example, dollars or euros. These tend to stabilize over time. Though the value of the dollar also decreases and increases over a period of time, the rate is more decent.
Understanding The Methodology
In actuality, the methodology is reversed. The entity behind the Stable coin securely stores the asset in order to back up the stablecoin. Suppose you have $1 million in the traditional bank that will backup the one million units of stablecoins.
This is how the assets of the Crypto world and the real world are tied together. The money that is in reserve serves the purpose of collateral for the Stablecoin.
The mechanism of other Crypto coins backing up the Stablecoins is more complex. And this is the second type of mechanism behind the concept of Stable coin. There is also a third one.
The third variety of stablecoin is known as algorithmic stablecoin. This is not collateralized at all. In order to keep the value price in line with the target price, new coins are created, or old coins are burned.
Suppose the value price of a coin drops from a value price of $1 to $0.50. The earlier mentioned algorithm will automatically destroy a broad stip of Crypto coins in order to produce more scarcity, which will lift up the price value.
Features of Stable coins
The value of a particular Stablecoin can be backed up by another Crypto coin.
By using smart contacts, the peg is executed on-chain.
Smart contacts are used to regulate the supply of the stablecoin.
Collateral is not enough for the stability of stablecoins. It is gained through additional incentives and instruments.
The Similarities Between Stablecoins And Altcoins
From the earlier mentioned points or discussion, we now can point out the similarities between Stablecoins and Altcoins.
Altcoins and Stablecoins are both Cryptocurrencies.
Both these types of Crypto coins have the volatile nature of Cryptocurrency.
Both are the form of digital currency.
The Difference Between Stablecoins And Altcoins
However, Stablecoins and Altcoins have many similarities between them, but they are two different types of Crypto coins. Here are the differences between them.
Altcoins
Stablecoins
All Altcoins are not Stablecoins
More volatile in nature
It is not backed up by any other stable asset like USD or gold.
Excerpts for Stablecoins, other Altcoins can not be destroyed or created.
All stablecoins are Altcoins
Less volatile in nature
It is backed up by stable assets, such as gold and USD
Stablecoins can be destroyed and created to keep the value price in line.
Take Away
There you have it; now you’re the similarities and the difference between stable coins and Altcoins. Though there are more similarities than differences, you should know these to make better investment decisions if you are in the Crypto trade market.
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This post is about the Hodl token. For informative purposes. I don’t any rights to the video.
What is Hodl ?
HODL is a community driven DeFi project built on Binance Smart Chain. HODL works on an autonomous frictionless yield farming and liquidity generation protocol. Simply hold $HODL tokens in your wallet and you will get more. In addition to this, you will also earn daily rewards in $BNB.
HODL is programmed to reward holders. It does this by applying a 10% tax on transactions: 4% goes to BNB Reward Pool 4% goes to liquidity 2% is distributed among the holders
The burn address holds currently holds 24.25% of the total supply. This address also participates in the protocol, it accumulates more tokens, thereby effectively removing them from circulation. There is no limit to the burn, the black hole will keep growing, increasing the scarcity of HODL. Info from Coinmarket cap https://coinmarketcap.com/currencies/hodl/
I recommend this video it will show you the ins and outs of HODL the info is great the numbers may be greater or lesser depending on when you see this post. But its a general idea.
Leave a comment below if you have a questions that the videos or text didn’t cover. I am happy to help.
Cryptoneur 