It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
I seriously can't believe it has been a week already. Instead of "thank God it's Friday", I am more in the "holy cow, it's Friday mindset". It seems like we were just starting the work week yesterday.
Meanwhile, as time flies by, crypto continues to chug along. That guy from Luna got arrested in South Korea I think. Did anyone else hear that? You never quite know what you can trust, so I wasn't sure.
Hive has a hard fork coming up. Anyone hear about that? It's actually right around the corner. It will be interesting to see how much this disrupts the platform. I remember my early days on Hive when a hard fork meant the chain would be down for a day or more. It was insanely frustrating. I remember desperately trying to publish a post because I needed to grow my account and constantly being met with nothing due to the hard fork.
Thankfully, we are well past those days. The last two hard forks have went off pretty effortlessly. Sure, this one has some pretty major changes to things like RC's etc, but the witnesses have had quite a bit of time to play around with it, so I think it should be fine.
Don't quote me on that though!
Binance
Sounds like one of the bridges for Binance might have been hacked. If you want all the details, just check out pretty much any crypto channel on Discord or Telegram. That is all anyone is talking about right now. I haven't used Binance in a while to be honest.
I had a regular account a while ago, but living in the US, they ended up shutting that down. I didn't really like the idea of KYC to setup a US account (though I eventually did). For the most part I used Bittrex until they started having constant wallet maintenance. These days, I just use Mandala. It works quite well for me behind a VPN.
The good news is, Binance is pretty centralized, so it might be easy for them to track down the funds. Then again, who knows. The bad news is, if you use Binance or BSC, it sounds like they have everything shutdown right now. Good thing I already collected my CUB the other day!
R-Planet
It seems R-Planet is once again making changes to their staking program. Pretty much all of the native R-Planet mining rigs are reaching end of life. If you want, you can burn them for three months worth of Aether, but other than that, no more Aether will be generated from R-Planet rigs.
Kind of makes me wish I could go back to 2021 and sell a bunch of the rigs I hold when they were going for 10,000+ WAX. Just to rub some salt in the wound, based on the price of WAX at that time, it would have been $3000 or more per rig. I'm sitting on a bunch of these things and they are basically worthless now.
I really need to work on taking gains when I can and being able to walk away from a project after those gains are gained. My biggest fault is probably the fact that I hold on for too long. Both in crypto and in life.
Nefty
I saw an article the other day that one of the major WAX marketplaces; Neftyblocks was selected by IBM to be part of one of their projects. It sounds like they will be getting some seed money. There are about 150 other companies that were also selected to be part of this project, but the fact that they included a blockchain company is kind of cool.
Ultimately, I don't really know what this is going to mean for Nefty, but I have been doing some DeFi stuff over there for a couple of months now. I know a lot of people that think the Nefty token is primed for a big run next bull market. I guess time will tell, but the fact that IBM has confidence in them should tell you something.
Of course, do your own research.
That's all I've got this week. Have an awesome weekend and stay warm!
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