Posted 2 months ago | by Catoshi Nakamoto
Twitter stocks soar as Elon Musk becomes their new biggest shareholder, Phishing attacks target Trezor and Bitcoin mining gets a game changer. My name is Deezy. This is your crypto nightly wrap-up. Let’s get it!
You know the old saying…when life shuts the door, I’ll be back to buy the building…That’s exactly the kind of situation we’re seeing play out here. Last week, we discussed how Elon Musk openly criticized Twitter and how he has given “serious thought” to starting a new social media platform of his own. Just over a week ago, on March 26th, Musk reiterated his issues with the social media tech giant when he tweeted out, “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” Funny enough, within an hour of Musk’s tweet, Dr. Parik Patel points out the obvious by asking, “Why don’t you just buy it?” Be careful what you wish for Mr. Patel, because that sounds like an excellent idea. In classic fashion, Musk purchased 9.2% of Twitter’s stock for a hefty sum of $2.9 billion dollars. I hope some stock traders are taking profits, because the multibillion dollar buy up caused twitter’s premarket stocks to pump over 20%. This large purchase may come as a big surprise to many folks considering how critical Elon has been towards Twitter in the past, but it’s clear that he would rather attempt to fix their issues from the inside instead of being villainized by the masses for starting a competitor. Hopefully his input will encourage free speech and prevent censorship sooner than later…that way, Elon can get back to focusing on important things like building earthquake proof tunnels, designing Neuralink and ensuring humans become an interplanetary species.
If you’re new to crypto, here’s a word of advice. Protect yourself and use common sense. The internet can be dangerous place and its imperative to familiarize yourself with the common tricks and tactics used by hackers. Once you cover the beginner bases by getting anti-virus software, a VPN and a cold storage wallet, the next thing I would suggest is to acclimate yourself to a common cyberattack known as Phishing. Most commonly found in emails, this is when a hacker fraudulently poses to be a legitimate person, company or institution. Late last month, someone was scammed out of three bored apes, worth over $900k, from a fake animation phishing website impersonating the real yacht club. But just recently, Trezor has been the target of a phishing attack where the scammer utilized their email marketing provider, Mailchimp, to send scam emails to Trezor’s mailing list. Those fraudulent emails contained links that sent users to trezor.us instead of the real site, trezor.io. (source) Trezor quickly responded to the issues reported to them by shutting down both of the websites, warned their community about to issue and they’ve opted to not use their mailing list for the time being. Today, they released a blog on the recent update of the phishing attack where they drive the point home to never enter your seed phrase anywhere unless your device specifically instructs you to. Also, don’t write your seed phrases down on your phone or laptop either. It’s best to write them down with a pen and paper and lock that paper somewhere fireproof and safe.
Intel has launched a new microprocessor for Bitcoin mining called the Blockscale ASIC that will ship in Q3 of this year. The chip will provide high efficiency and up to 580 gigahash of of processing power that out paces the latest offering from Bitmain by over 8 Terahash. This is VERY bullish news for bitcoin and the power of the network. It also is a solution for the upside down supply chain that Bitcoin miners have with hardware. While China has banned a lot of Bitcoin and other Proof of Work cryptos, the hard ware makers are all still based in China or Hong Kong. Having Intel enter the mix is going to be a huge win for global mining supplies, hardware prices and the ease of mining operations to get off the ground. Expect to see other manufactures like AMD follow suit in the near future with the possibility of adding in Blockscale ASICS into anything that draws power, so the ability to mine bitcoin will be able to expand into anywhere you can fit a chip. ‘
That’s all I got. Be blessed. Deezy Out!