I hope you are all well and are had an excellent week, welcome to CryptoGod-1’s blog on all things crypto. I am continuing my series based off some of the most interesting news stories of the last week, some of which I have written posts about on here. Within I will be making use of some Meme's as posted in the Reddit Group Crypto Currency Memes to really get the message across of what's been going on. Enjoy :)
Did LEDGER Really Just Do That??
I think by now we all know the biggest piece of news to emerge over the last week. Ledger, the Hardware wallet which was famed for being one of the most secure ways of storing crypto, well, it turns out are not so secure. Still, many users are standing by their wallet.
Many others are not so happy with how things escalated. From being a secure wallet to suddenly releasing an update which admits to a users seed phrase not being nearly as secure as first though, well I guess we just have to trust them, right?
In terms of the alternatives, TREZOR and co have been making the most of the comedy of errors which have befallen Ledger since their update. From weekend discounts to draw in customers, to pointing out how they are actually secure unlike Ledger, we all know the new favourite kid on the block when it comes to cold storage wallets.
The new update means users can have their seed phrase sharded and uploaded to three separate serves, allowing for the possibility of it being stolen or hacked from the locations. One of the basic rules of seed phrases is to keep the seed storage somewhere that is not capable of being hacked digitally.
And as bad as that is, turns out Ledger always had the capability of uploading a firmware update to download all users seed phrase. So much for the user, and only the user, gets to know it.
It seems like when they were learning the basics and simple rules of cold wallet storage, as in the seed phrase is for the customer ONLY, that logic went right out the window.
MetaMask Wants in on the Action
With all the attention surrounding the cold storage wallets, it seems like METAMASK did not want to be left out of the fun. While users are worried about the safety of their crypto on their cold wallets, MetaMask is ready to withhold funds for tax purposes according to their update in terms and policy.
So MemeCoin Season is Over?
With all that hype about crypto storage, how are the actual cryptos doing? The memecoins had been taking over in recent weeks, but has the FOMO died off? Are people beginning to realise the highs that were posted previously are unlikely to be reached again, and that they were just used as exit liquidity.
Anyone worth their salt could have seen that one the high was reached the lows and stagnation was bound to set in. The smart ones shorted. The rest invested in it.
With the hype of the frogs in full swing, is KERM the next frog to take over the crypto space?
Lets Just Jump Ship to Bitcone
Forget about the memecoins. Do not waste your time on them. Get on board with Bitcone. With what you say? Bitcone. Its everywhere.
So many have been busy farming for moons on reddit and the likes, getting airdrops, and in general looking for the free and easy crypto. What else should we be doing with our time?
Seriously though, what is Bitcone?? Apparently its the newest and hottest community token on Reddit. So go on, forget the moons, forget the memes, get yourself some Cones.
And For the rest of the Economy
Well. Thats it. Game over man. Sir Jim Cramer has brought death and destruction upon all of us, the Western World will never be the same again. Nice knowing you all.
Have a great day and enjoy your week ahead.
CryptoGod-1.
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You can find the previous entries here:
20th March - 26th March 2023
27th March - 2nd April 2023
3rd April - 9th April 2023
10th April - 16th April 2023
17th April - 23rd April 2023
24th April - 30th April 2023
1st May - 7th May 2023
8th - 14th May 2023
