Posted 3 weeks ago | by Catoshi Nakamoto
ApeCoin exceeds all expectations, Meta takes a dent and Edward Snowden reveals that he was one of the six original Zcash creators. My name is Deezy. This is your crypto nightly news wrap up. Let’s get it!
You know a project turns heads when it pumps parabolically despite Bitcoin and the rest of the Alts fighting to hold support levels. Attention goes where the money flows, and that has without a doubt been the case for ApeCoin this year. It didn’t always look this promising for the Apes and they did spend plenty of time swinging around the charts. In March alone, the coin suffered through two heavy corrections and some of their user base banana split. Be happy if you stayed, because once certain news stories broke, the crypto world learned the Apes aren’t monkeying around. From it’s $11 dollar April 17th dip to now, ApeCoin climbed almost 100% and is currently fighting to break the $22 dollar level. Now, everyone’s eyes are set on the jungle, and just because those Apes are bored, doesn’t mean they’re not busy. The most recent pump can be attributed to the anticipation for Yuga Labs metaverse project, known as “Otherside.” Their first NFT sale is scheduled for this Saturday and Cryptobriefing.com reports, “While unconfirmed, the NFTs are suspected to be land parcels for the Otherside Metaverse.” You’re able to get in on this first Otherside mint if you preregistered on somethingisbrewing.xyz before April 1st and those participating will have to pay with ApeCoin. Although the other Metaverse coins like SAND and MANA got a major head start, APE has now passed them all. They recently crossed the $6 billion dollar mark and APE is now the 26th largest crypto coin by market cap. In this world, the lions are lazy, and that makes the APE the king of the Jungle. –Speaking of market caps, lets pass it over to Frankie Candles for a market watch.
Mark Zuckerberg’s Meta has taken a mega hit. Reality Labs, formerly known has Facebook Oculus, has been dumping big money into their VR/ Metaverse endeavor and their Q1 2022 earnings were posted on Wednesday…it turns out they didn’t earn anything at all. In fact, Reality Labs posted a $2.9 billion dollar loss for Q1 this year. In response to this, Zuckerberg remains optimistic. He stated, “I recognize it’s expensive to build this, it’s something that’s never been built before. And it’s a new paradigm for computing and social connection. We expect to be meaningfully better at monetization than others in the space and we expect that should become a sustainable advantage for our platforms as they develop.” Reality Labs did pocket just shy of $700 million selling things like VR headsets, but that’s a drop in the bucket comparted to $2.9 BILLION. Reality Labs is the sector that took the dent, but META itself still had a fair Q1. Despite the nasty February crash, where they lost a million users a $251 billion dollars, Meta’s Q1 total revenue was still $27.9 billion in the green. I expect Zuckerberg and the team to kick it into overdrive for the rest of the year considering they’re in the small font at the bottom of the page while Elon controls the headlines. I’m not the biggest Zuckerberg fan, but I do respect his willingness to continue to invest in the space after taking a big hit. I don’t respect that they plan to take 50% of the cut on their virtual assets sales in the Metaverse. Really…50%? How do you spell greed? M-E-T-A…I’d rather play in the Sandbox.
Edward Snowden blew the whistle on government surveillance in 2013 and is still to this day living under the radar…But…somehow, someway, he still makes headlines. It turns out, privacy coin Zcash, was initially launched through in 2016 through a multi-party computation, known as “The Ceremony.” Long story short, to maintain security, each of the six creators got a piece of the multi-signature private key, which is a very, VERY, long number. Since they split it up, no single person could infiltrate the integrity of Zcash, which is one of the many reasons it’s still a trusted privacy coin today. One of the creators was believed to be known as man named John Dobbertin. All these years later, we find out Mr. Dobbertin, is in fact Edward Snowen. Yahoo.com reports, “In a recent message to Zcash co-creator Zooko Wilcox, Snowden agreed to make his participation public knowledge.” Snowden stated, “As long as it’s clear I was never paid and had no stake, it was just a public interest thing, I think you can tell people.” If Edward Snowden has taught us anything, it’s that privacy should be priority. Before he blew the whistle, he could have kept it zipped and went on with his life…but he couldn’t live with himself knowing that the government was spying on everyone “for our own good.” To see the sacrifices he has made in the name of privacy, should really make people think about why privacy forever should be viewed as an inalienable right. When you really think about it, it’s not much of a surprise to me that he was behind Zcash after all.
That’s all I got. Be blessed. BitBoy out!