StartupTalky

Tag: shiba inu coin

  • What do Experts say about Shiba Inu Coin? Should you Invest in it?

    The cryptocurrencies such as Bitcoin and Dogecoin had been surging their value in recent years. The meme-based Dogecoin had reached its all-time high being part of the top 10 cryptocurrencies according to the market capitalization. Other than Bitcoin and Dogecoin there is a new cryptocurrency creating excitement in the crypto market called Shiba Inu Coin. Let’s look at what is Shiba Inu Coin, expert opinions and its price prediction.

    What is Shiba Inu Coin?
    Returns of Shiba Inu Coin
    Expert Opinions about Shiba Inu Coin
    Is Shiba Inu Coin a Good Investment
    Shiba Inu Coin Price Prediction
    Will Shiba Inu Coin Reach $1?
    FAQ

    What is Shiba Inu Coin?

    Shiba Inu Coin Logo
    Shiba Inu Coin Logo

    There is not much information available about this cryptocurrency. The crypto is considered to have been made in order to provide competition to Dogecoin. The website of Shiba Inu Coin claims that it has an experiment in order to the decentralized voluntary building of community.

    Shiba Inu Coin Website
    Shiba Inu Coin Website

    The coin features a hunting dog from Japan, Shiba Inu which rose in popularity due to the Dogecoin as this is also considered to be another meme coin. The website shares the message that this token is their first and the users have the choice to hold billions or even trillions of them.

    The nickname of the coin is Dogecoin killer and claims that everyone should own one from the open market.

    Will Cryptocurrency be taxable in India?
    Cryptocurrencies have become very much popular in India and there are many talksthat these digital coins will soon be banned by the Government of India. ACrypto Bill is expected to be announced anytime from the government and thereare talks that there will be a twin tax introduced by the governme…
    StartupTalkyAlan Joseph

    Returns of Shiba Inu Coin

    According to the data received from CoinMarketCap, the Shiba Inu Coin had given a return of 120 % in the time period of 24 hours at one point in time. When compared to a 7 day time period the coin has provided a return of around 1970.57 %.

    The meme-based cryptocurrency, Shiba Inu Coin which is positioned to be a rival coin of Dogecoin has a market capitalization of USD 15 billion whereas Dogecoin has a market capitalization of USD 22 billion as of 2021.

    Expert Opinions about Shiba Inu Coin

    Investorplace.com has recently conducted deep research into the Shiba Inu coin which conveyed that the predictions of the price of currency have been heating up due to the enormous gains of the cryptocurrency. However, it is seen that the investors are not yet rushing to invest their money into the new cryptocurrency.

    Investorplace.com had done a dive into the number of predictions about the new coin where they found out WalletInvestor has suggested that Shiba Inu coin is not a good investment for the long term.

    They also have an estimated prediction that the value of this cryptocurrency would see a downfall by the end of 2022 to somewhere in between USD 0.000029 to USD 0.000016. But DigitalCoinPrice has predicted that there would be an increase in the price of the cryptocurrency and would see a jump by the end of 2021 to USD 0.000044.

    Gov Capital has predicted that Shiba Inu Coin would see a huge drop falling to USD 0.000006.

    Why Most of the Wealthy Investors avoid Investing in Bitcoin
    Most of us would have heard about bitcoin and cryptocurrencies. It is all overthe news and everyone speaks about the fancy returns provided by this digitalcoin. It has created its mark in the market. It was not so famous some yearsback and the value of the coin was not so high. The popularity h…
    StartupTalkyAlan Joseph

    Is Shiba Inu Coin a Good Investment

    If you are not sure whether you should invest in this cryptocurrency, then take some steps before getting into the decision and investing your money into it. First of all, try to understand the fundamentals of cryptocurrency before you decide to trade with it.

    Understand the project and go through various risk management techniques and adjust it according to your capacity to bear the risk of which one would vary from one individual to another.

    The most important point which should be noted before investing your money into cryptocurrency is that you should be satisfied before investing, with your research and studies and never buy or invest your money into the coin because of someone else’s advice.

    Shiba Inu Coin Price Prediction

    Shiba Inu Coin Price Prediction
    Shiba Inu Coin Price Prediction

    Shiba Inu coin is a highly volatile coin as it is a meme coin and to predict its price is difficult as it is linked to the hype. The meme coin is expected to grow from $0.000014 at the end of 2025 to $0.000028 in 2030. As of 2022, the Shiba Inu Coin price in rupees is ₹0.002318.

    Shiba Inu Coin Price in INR
    Shiba Inu Coin Price in INR

    Will Shiba Inu Coin Reach $1?

    The current price of Shiba Inu is 0.000031 and reaching the $1 mark may sound impossible but we should remember that this is a highly volatile coin, also the price of the coin is linked to the hype of the projects. But can it hit $1? probably not. If Shiba Inu reaches $1, the market cap of the coin would be $550 trillion which would be higher than every combined economy of the world and 650 times the market cap of Bitcoin. So, it is highly unlikely that Shiba Inu will reach $1 in 2025 or 2030.

    Conclusion

    There can be risks involved with these get-rich-quick coins, even though the percentage returns provided by the cryptocurrency in the past may look attractive, there are a lot of cases where such coins have lost their value and provided negative returns after a few months.

    FAQ

    What is the use of the Shiba Inu coin?

    Shiba Inu tokens are powered by Ethereum. Fungible tokens like Shiba Inu are ERC-20 tokens.

    How many Shiba coins are left?

    As of 17 May 2021, a total of 394.796 trillion Shiba Tokens were in circulation, with a market cap of $6.52 billion USD.

    Where can I buy the Shiba Inu coin?

    You can currently buy Shiba Inu coins on platforms like Binance, Huobi Global, OKEx, Hotcoin Global, and MXC.COM.

  • Why does Coinbase Co-founder Fred Ehrsam believe that NFTs will be worthless in 3 to 5 years?

    Cryptocurrencies have been gaining popularity and with cryptocurrencies, in the recent times, a new crypto asset called the Non-Fungible Token (NFT) had amassed a huge amount of popularity. Many believe NFTs to be the future for art and other valuable items. But Fred Ehrsam has a difference in his opinion regarding to that and in an interview had conveyed about it. In this article let’s look at why Fred Ehrsam had conveyed that the 90 % of the NFT Collectibles would be worthless.

    Fred Ehrsam on NFT – Latest News
    Who is Fred Ehrsam?
    Fred Ehrsam take on NFT
    Fred Ehrsam on Cryptocurrency
    What Fred Ehrsam said about Bitcoin’s energy consumption?
    FAQ

    Fred Ehrsam on NFT – Latest News

    Fred Ehrsam who is the co-founder of Coinbase conveyed in an interview that he feels that the NFTs are going to lose their worth. On 16 June 2021, he had conveyed in an interview that 90% of the NFTs would eventually become worthless. He also added in his interview that he believes that people shouldn’t dismiss the doge coin.

    He also added that decentralized finance would be a riskier technology of the blockchain world and conveyed that the United States would get the regulations of bitcoin wrong and there could be a danger in that.

    Fred Ehrsam also added that criticism made on the bitcoin’s energy use must be reconsidered by Elon Musk and Bill Gates.

    What is Robert Kiyosaki’s take on Cryptocurrency?
    Robert T Kiyosaki is the author of the well-known personal finance book Rich Dad
    Poor Dad. The book was published in 1977 and has become the New York bestseller
    having a sale of around 40 million copies worldwide. He had previously praised
    the properties of bitcoin. Let’s look at what Robert T Kiyos…
    StartupTalkyAlan Joseph

    Who is Fred Ehrsam?

    Fred Ehrsam is an American based business man and an investor. He was the co-founder of one of the largest cryptocurrency exchange Coinbase. He had left Coinbase in the year 2017 and the company had gone public with a valuation of USD 100 billion.

    Fred Ehrsam is currently the co-founder and the managing partner of the cryptocurrency investment firm Paradigm. As of 2020, the company had made more than 25 investments in cryptocurrency related companies. He was born in the year 1988 in Boston.

    Fred Ehrsam’s take on NFT

    Fred Ehrsam conveyed in his interview that people are going to try all sorts of stuffs and added that in the coming future there would be millions and millions of cryptocurrencies and crypto assets. He compares cryptocurrencies and crypto assets to the millions and millions of websites that were developed during the boom of the .com phase in which the most of them wouldn’t work.

    He conveyed that around 90 % of the NFTs will have no value in the next 3 to 5 years just like the early internet companies in the late 90s. He added that the value of NFTs would probably be the same as those companies.

    Reasons Why Elon Musk has not launched his own Cryptocurrency?
    Elon Musk is an American entrepreneur and a Business Magnate. He is the founder,
    Chief Engineer and CEO of SpaceX, CEO, product architect and an early-stage
    investor of Tesla, founder of the Boring company and also the co-founder of
    Nueralink and OpenAI. He is one of the richest men in the world. E…
    StartupTalkyAlan Joseph

    Fred Ehrsam on Cryptocurrency

    Fred Ehrsam conveyed in the interview that if cryptocurrency has taught us something it is not to dismiss a good meme and adds that it could display much more progress. He refers to dogecoin and other crypto assets.

    Speaking about decentralized finance he added that one thing that totally changed in the year 2017 was that the doors suddenly opened to much broader applications. He added that Ethereum came out of nowhere and proved that various applications and projects could be build using the blockchain technology. He said that in the coming future we will be able to see a lot of mainstream consumer applications.

    Market Cap of NFT
    Market Cap of NFT

    What Fred Ehrsam said about Bitcoin’s energy consumption?

    Speaking about the criticism of the environmental impact of cryptocurrencies he conveyed that Elon Musk and Bill Gates will have to examine the issue much more closely and added his personal view which stated that it would be much more energy efficient in order to use these digital coins and transfers in the coming future. He added that it is totally understandable that there would be a lot of confusion in the beginning stage.

    He added that, the world doesn’t change overnight but he said that we will be able to see the seeds of exponential growth that is already occurring. He added that we would live in a future where we would not require central currencies or a central system in order to co-ordinate with each other.

    He added that it has already been proved by the financial services where we do not require a central system in order to hold our money or transfer our funds and we could be our own banking system.

    Conclusion

    Fred Ehrsam conveyed that history is yet to be written and added that in his view he is at a very strong place where the brand is trusted not only by the users but also the regulators. He added that being that bridge in the world of cryptocurrencies is a really great place to start.

    FAQ

    What is the net worth of Fred Ehrsam?

    The net worth of Fred Ehrsam is 290 crores USD.

    What does NFT mean?

    NFT is non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.

    How does NFT prove ownership?

    Nonfungible tokens prove ownership of a digital item – image, sound file or text – in the same way that people own crypto coins. Unlike crypto coins, which are identical and worth the same, NFTs are unique.

  • Why did Thailand ban Meme coin (Dogecoin), NFTs, and other exchange tokens?

    The cryptocurrencies have been receiving a lot of regulations. A lot of Government’s has been banning certain digital coins are a certain type of transaction with the latest news being from China. The most recent news is from Thailand where the government has banned a set of digital coins introducing a new regulation for the cryptocurrency market. Let’s look at the reason why Thailand banned meme coin and other NFT’s.

    Thailand Dogecoin Ban– Latest News
    What is the the Law laid by Thailand regarding crypto exchanges
    Reason Why Thailand banned Dogecoin and other Crypto exchange
    Other norms laid by Thailand
    FAQ

    Thailand Dogecoin Ban– Latest News

    Thailand had conveyed that they have introduced a selective ban on the cryptocurrency market which focuses on meme coins, Fan tokens and Non-Fungible Tokens. The Securities and Exchange Commission Board has set a prohibition for the exchanges dealing with the digital assets from providing the services related to these assets.

    On 9 June 2021, there was a meeting held by the Securities and Exchange Commission where the new resolution was passed. The new law that was passed was under the Rules, Conditions and Procedures for undertaking Digital Asset Business as per SEC Secretary General Ruenvadee Suwanmongkol.

    The new law had been come into effect from 11 June 2021 following the publication in the Government Gazette.

    Will Cryptocurrency be taxable in India?
    Cryptocurrencies have become very much popular in India and there are many talksthat these digital coins will soon be banned by the Government of India. ACrypto Bill is expected to be announced anytime from the government and thereare talks that there will be a twin tax introduced by the governme…
    StartupTalkyAlan Joseph

    What is the the Law laid by Thailand regarding crypto exchanges

    The new law has laid down restrictions regarding the crypto exchanges in the country from listing the Utility Tokens and certain types of cryptocurrencies on the exchange. This will include the meme coins, Fan tokens, Non-Fungible tokens and Digital Tokens.

    The new law will be effective from 11 June 2021 and the Securities and Exchange Commission of Thailand directed the Digital Asset exchanges to remove the listing of such currencies within the time period of 30 days.

    Number of Dogecoin transactions
    Number of Dogecoin Transactions

    Reason Why Thailand banned Dogecoin and other Crypto exchange

    The new regulation is focused to protect the interest of the cryptocurrency or digital asset traders as stated by the Thailand Securities and Exchange Commission. The SEC of Thailand had conveyed that the Meme coin has no specific objective or an underlying principle and added that the price of the coin is entirely dependent on the hype created on the social media platforms.

    The price fluctuates according to the trend on the social media platforms. Some of the famous examples of meme coins include Dogecoin, Shiba Inu Coin and SafeMoon.

    The SEC of Thailand has also conveyed that Fan tokens are just based on the influence of certain influencers in the society and considered them to be unfit for the traders.

    The Thailand Securities and Exchange Commission had also mentioned that they have banned the Non-Fungible Tokens that are issued by the Cryptocurrency exchanges or Digital Asset exchanges and also from the related persons known to the traders as exchange tokens.

    Non-Fungible Tokens act as a certificate of ownership for the unique Digital art and exchange tokens are offered by the cryptocurrency exchanges to the traders or their users for further investments or transactions.

    How is Iran using Bitcoin in its Favour?
    Iran which is also widely known as Persia is a country in the Western Asia. Itis the second largest country in the Middle East. The country has updated itsrules on the officially mined cryptocurrencies in the country. Let’s look atwhat the country is planning to do with the mined cryptocurrencies…
    StartupTalkyAlan Joseph

    Other norms laid by Thailand

    The Thai SEC had also defined another Norm where the there is a requirement that is imposed in the event that digital tokens that are issued by their own exchange or related persons are listed on the stock exchange.

    It was also mentioned that any issuer of the token who would fail to comply with the white paper and the relevant rules will have their tokens being removed from the listed token in the exchange.

    As mentioned earlier Thailand is one of the earliest countries to have been laid down regulation on the cryptocurrency market. Earlier China had laid down a set of regulations into the digital asset market which was specifically targeted on cryptocurrency mining which focused on bitcoin.

    Conclusion

    However, it is seen that the Government of different countries has taken their efforts to tackle down on the cryptocurrencies with a lot of cases coming up against the digital assets. The blockchain technology on the other hand has proved to be really effective and useful for the Governments’. We will have to look forward to knowing what the future holds for these digital assets.

    FAQ

    Why did Thailand ban Dogecoin and other NFT’s?

    Thailand Securities and Exchange Commission stated that they have imposed a ban to protect the interest of the cryptocurrency or Digital Asset exchanges.

    Who is the owner of Dogecoin?

    The popular meme coin dogecoin was created by Billy Markus, he claimed that he created the crypto in just two hours.

    Why is dogecoin called a meme coin?

    Dogecoin is often referred as meme coin because it was created as a meme on the popular meme dog Shiba Inu.

  • Ethereum 2.0 : Launch, Price Predictions, Working, Comparison with Ethereum

    Global Market has been revolutionized through the Blockchain technology. The technology has disrupted the major sectors which include finance, agriculture, banking and health care. Ethereum is one of the largest cryptocurrencies in the market and a lot of decentralized apps and smart contracts have been build using the Ethereum network. Let’s look at what exactly is Ethereum 2.0 and Will it replace Ethereum?.

    What is Ethereum 2.0?
    What is Sharding?
    Proof of Stake
    Working of the Ethereum 2.0
    Difference between Ethereum and Ethereum 2.0
    Price Predictions of Ethereum 2.0
    When will Ethereum 2.0 launch?
    FAQ

    What is Ethereum 2.0?

    Ethereum 2.0 is the modified or an upgraded version of the already existing Ethereum blockchain. The main aim of Eth 2.0 is to increase the number of transactions by increasing the scalability and the speed of the previous Ethereum network. Ethereum is known as Eth2 or Serenity and it is the pseudo name for the new version.

    As compared to the previous version of Ethereum network, the Ethereum 2.0 has some fundamental changes in its design and structure. The two major changes that were done in the Ethereum 2.0 are sharding and proof of stake.

    What is Sharding?

    Sharding is a process through which there is a multiple blockchain split through a single blockchain. The multiple blockchains will be known as shards and it would make the entire network of the Ethereum blockchain more efficient.

    There will be an increase in the efficiency as the multiple blockchains will be handled by multiple validators which will reduce the workload. The information related to a particular shard will be maintained by a particular validator and there would be regular shuffling between the shards in order to avoid any kind of manipulation between the validators.

    The communication and the coordination of shards are conducted and maintained through the beacon chain.

    Proof of Stake

    In the mechanism of proof of stake, the miners would be replaced with the validators. Their major role would be to validate the transactions by providing storage, computer power, maintaining the bandwidth and proposing new blocks.

    The validators will be paid using ETH periodically and in order to reduce the malpractices the validators will have to provide a deposit of 32 ETH which should be locked in and the deposit will be forfeited fully or partially if the validators involve in a malpractice.

    Working of the Ethereum 2.0

    The most important aspect of the Ethereum 2.0 blockchain is the validators. They are the ones responsible for the maintenance and the infrastructure of the cryptocurrency. Every validator will have two keys with them which are the signing key and the withdrawal key.

    Signing Key

    In order to perform the work for the blockchain, a signing key is used. The sign in key must be active 24/7 as the validators have 3 main functions which include adding blocks and proposing the blocks to the beacon chain or the shard chain, to report if there are any malicious behaviors from the validators and to attest the validity of the shard chain or beacon chain.

    Withdrawal Key

    The actions on the funds are controlled by the withdrawal key. There is no necessity that the withdrawal key should be available 24/7 like the signing key. However, the validator needs to ensure that the withdrawal key is secure as it has control over all the funds and that is one of the major reasons why the validator has to lock up 32 ETH in the beacon chain.

    However, the validators do not work alone, they work in a group of around 128 validators as a committee.

    Price of Ethereum 2.0
    Price of Ethereum 2.0

    Difference between Ethereum and Ethereum 2.0

    The Ethereum and Ethereum 2.0 have a major difference in the mechanism they work on. Ethereum works on the mechanism of miners, where they have to solve a puzzle to record a transaction and whoever solves the math puzzle first will record the transaction, it is called proof of work. Whereas Ethereum 2.0 works on the basis of proof of stake where the validators record the transaction.

    Ethereum consumes a lot of energy as it requires a high amount of computer power but Ethereum 2.0 uses a comparatively lesser amount of energy.

    Price Predictions of Ethereum 2.0

    There are a lot of price predictions related to Ethereum 2.0 PrevisioniBitcoin has predicted the price to be around USD 4740 for the year 2022. Coinpedia, Longforecast and Coinpriceforecast have predicted the price to be around USD 8000.

    However the highest prediction is that of Brian Shuster who is the CEO, president and chairman of several companies. He predicts the price of an average single coin of Ethereum 2.0 to be around USD 100,000 and expects a market cap of 10 trillion which is that of gold.

    When will Ethereum 2.0 launch?

    The Ethereum network is already the second largest in the cryptocurrency market with around more than 1,400 Ethereum projects being built. The launch of Ethereum 2.0 will be in stages and is expected to be in the market by the year 2022.

    The Eth 2.0 however has a lot of advantages and a higher scalability option compared to the Ethereum network and it is expected to increase the interest of the investors in the coming years.

    Conclusion

    Ethereum 2.0 is considered to be much more secure than the Ethereum network and will be faster as it is expected to have a transaction of around 10,000 per second. The Ethereum 2.0 will concentrate on building more projects.

    FAQ

    When will Ethereum 2.0 launch?

    A full scale launch of Ethereum 2.0 is expected till 2022.

    Will Ethereum 2.0 replace Ethereum?

    No, Ethereum 2.0 will not replace Ethereum but It is an upgraded version of Ethereum.

    Will Ethereum 2.0 affect Ethereum price?

    The value of ETH goes up and down every day so its unclear to say Ethereum will affect the price or not.