Autor Cointelegraph By Keira Wright

10 women who used crypto to make a difference in 2021

10 women who used crypto to make a difference in 2021

Uverejnil používateľ | dec 25, 2021 |

This year, new research showed that there’s still a long way to go before there is gender parity in the crypto and blockchain space. WEF’s April Global Gender Gap Report 2021 found that it will take close to 135.6 years to close the gender gap due to the COVID-19 pandemic.However, that hasn’t stopped these women who used blockchain technology and cryptocurrency to tackle a whole range of social issues ranging from girls’ education in developing countries to the wealth gap in black communities in the United States. In no particular order, these 10 women are changing the world using crypto one block at a time.Tavonia EvansTavonia Evans is the founder and lead engineer of GUAP Coin, which she created to help close the wealth gap and support black-owned businesses in the United States. Despite being hospitalized with COVID-19 and facing sweeping funding cuts, Evans says that her company accomplished more this year than ever before.“We’ve onboarded hundreds of women of color into the Masternode space, an area of crypto that is largely male-dominated,” she told Cointelegraph. 70% of GUAP nodes are owned by women of color.“We’ve sparked awareness about crypto among a population with less access and education in crypto and finance — and we continue to do so.”This year, the company onboarded its first brick-and-mortar merchants. It also launched the xGUAP wrapper on Binance Smart Chain.Lisa WadeLisa Wade was the 2021 recipient of Blockchain Australia’s Gender and Diversity Leader of the Year award, which recognized her work advocating for women and LGBTIQ+ people in the blockchain industry.She is the founder of NEOMI, an investing ecosystem that connects charity entrepreneurs looking to raise capital with investors looking for authentic impact investments. Wade explained to Cointelegraph:“NEOMI has a lens on our theory of change, which supports LGBTI and female entrepreneurs.”Wade is also the chair of NAB Pride and pioneered the Australian bank’s “Rainbow Women” initiative, which gives LGBTIQ+ women a space to speak about issues that are holding them back on career development in the finance sector.She also continued her work in environmental activism, co-creating a blockchain initiative called Project Carbon which tokenizes voluntary carbon credits.Olayinka OdeniranOlayinka Odeniran is the founder and Chairwoman of Black Women Blockchain Council (BWBC), which is working toward increasing the number of black female blockchain developers to half a million by 2030. Over the past year, the BWBC partnered with blockchain software company Consensys to help African people throughout the globe get involved in crypto. She also launched a room on social audio app Clubhouse called “What The Hell is Blockchain” and a community site where members can network and learn about everything from nonfungible tokens (NFTs) to decentralized autonomous organizations (DAOs).In case this wasn’t keeping her busy enough, she also released a social impact NFT collection CyberMermaid through ocean conservation nonprofit The Dope Sea.In 2022, Odeniran plans to host a month-long event for Women’s History Month in March and release a new program to teach African women about NFTs and blockchain.Maliha AbidiMaliha Abidi is a Pakistani-American author and internationally acclaimed visual artist. She founded ‘Women Rise NFTs’ this year. The collection of 10,000 NFTs represent diverse women from around the world including activists, artists, scientists and coders. The collection has been featured on the front page of Rarible and at DCentral Miami. Abidi also had an artist residency during Art Basel in Miami. According to Abidi, so far, 2,350 NFTs from the collection amounting to over 150 Ether (ETH), around $591,000, have been sold to 1,200 unique buyers including some big names like Randi Zuckerberg and Gary Vee. 10% of the total profits from the project will be donated to charities supporting women and children.Abidi’s major project for next year will be the creation of the world’s first metaverse school for marginalized children from around the world. Lavinia OsbourneLavinia Osbourne is the founder and host of Women in Blockchain Talks (WiBT), which is a female-led educational platform in the United Kingdom where women can network and learn about blockchain. She told Cointelegraph:“Getting started in this revolutionary space is key to change and adoption, so Women in Blockchain Talks wants to make this as easy as possible for people — women and marginalized groups in particular — to do just that.”This year, WiBT launched the 50k women into Blockchain by 2023 campaign, which Osbourne explained to Cointelegraph will “show that blockchain is for everyone as well as highlight the different pathways” to get involved in the space.Osbourne also founded the upcoming female-centric Crypto Kweens NFT Marketplace, which is currently being built on the Rarible protocol. WiBT introduced a Middle East ambassador to expand their international reach to women and marginalized groups wanting to learn about blockchain technology with translated versions of their educational material. Jen GreysonJen Greyson is a Utah-based advocate of women’s empowerment through cryptocurrency and a board member for Kerala Blockchain Academy (KBA) in India. KBA trains women in STEM and blockchain to become leaders in the space. In 2021, it introduced several new blockchain courses, including two free foundation programs. The Academy trained close to 7,000 students this year, with over 6,000 students enrolling into the foundation programs in less than four months. She told Cointelegraph: “The blockchain training program aimed to equip start-ups and individuals with the requisite knowledge, skills and attitude” needed to crack into the sector. Greyson added further:“While my home state of Utah is languishing in even getting computers in every school for every student, across the globe, KBA did this in 2021 while navigating a pandemic.”This year, the Academy’s vaccine traceability solution Immunochain was selected for a government health program in Kerala. KBA also developed a blockchain-powered multi-party document signing and verification system called Sign-A-Doc.In 2022, Greyson will be launching an NFT podcast and an academy “focused on bringing more crypto education to the feminine.” Manasi VoraIn May this year, Manasia Vora co-founded the Komorebi Collective on Syndicate, becoming the first investment DAO focused on funding female and non-binary crypto founders.She is also the founder of the non-profit Women in Blockchain (WIB), which aims to provide a space for women to mentor each other about blockchain and crypto. “We aim to connect women to thought leaders in this space to inspire, collaborate and encourage others,” she said in a LinkedIn post. On Dec. 15, WIB tweeted: “Crypto is about shared abundance and shared ownership. But this isn’t possible if the underrepresented communities are not included in the building, in the design, in the decision-making!” Roya Mahboob Roya Mahboob is not only an internationally-recognized activist but was also one of very few female tech CEOs in Afghanistan before being forced to flee in September this year when the Taliban took over control of the country.She is the founder and CEO of Afghan Citadel Software Company (ACSC), where over half the employees are women. Because many Afghan women are unable to access a traditional bank account, she pays her employees in Bitcoin. In an August interview with CoinDesk, she said:“If young people can learn about computers, they can learn about Bitcoin. And now everybody wants to learn how to access Bitcoin. They need to.”She is also a board member and president of the Digital Citizen Fund (DCF), a non-profit aiming to educate girls and women from developing countries about technology and finance. Mahboob also sits on the advisery board of Ashford University’s Forbes School of Business & Technology and recently created EdyEdy, a platform that helps young people from developing countries learn practical digital literacy skills.Cleve MesidorCleve Mesidor is the author of My Quest for Justice in Politics & Crypto, and a former appointee of the Obama administration.She was appointed as public policy adviser at Blockchain Association in March this year and is a Mayoral Appointee for the DC Innovations and Technology Inclusion Council. She is also the founder of the National Policy Network of Women of Color in Blockchain, and LOGOS, a social platform on the blockchain for activists. Alakanani Itireleng The Botswanan “Bitcoin Lady” Alakanani Itireleng is the CEO of the Satoshi Centre, which educates members of her community on how they can make money from crypto and blockchain technology.The self-funded center is in the process of developing an incubator where startups will be able to network with potential sponsors or mentors. She has campaigned for the Bank of Botswana to regulate and legitimize Bitcoin as a legal currency and is also developing a local crypto wallet that will be able to directly connect to regular ATMs. In a July interview with Forbes, Itireleng said, “I was feeling that there’s something about Bitcoin that is unique, that is different from normal fiat money.” She added further: “I always call it a currency of love.”

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Is crypto a boys’ club? The future of finance is not gendered

Is crypto a boys’ club? The future of finance is not gendered

Uverejnil používateľ | dec 24, 2021 |

“I am used to being the only woman in the room,” Joni Pirovich told Cointelegraph over the phone. Her tone wasn’t impassioned like she was claiming an injustice. It was matter-of-fact, resigned to the truth of it. Pirovich is a blockchain and digital assets lawyer and has been involved in the crypto industry for years. She’s also a mom of two.“In some ways, it’s been a real struggle to have my voice heard, to be seen as a legitimate person at the table that has views worth listening to — let alone respecting or following.”Her claim wasn’t shocking, since gender disparity in this industry isn’t exactly a new talking point. Back in August, CNBC released a survey that found that women are still less than half as likely to invest in cryptocurrencies than men, with 16% of men investing vs 7% of women. These results echoed what Finder’s Crypto Report had claimed months earlier in June.It stated that 22% of men own at least one sort of cryptocurrency, while only 15% of women do.Reminder that twice as many men invest in crypto than women, and women only make up 16% of the NFT market. Thanks @ReeseW and other women leaders in the space who are committed to changing that.— bobbyhundreds.eth (@bobbyhundreds) December 5, 2021The crypto industry sits at a crossroads between finance and technology, two sectors that have been traditionally dogged by gender disparity. A 2021 report by Accenture and Girls Who Code found that the gender gap for women working in the tech sector has actually worsened since 1984, from 35% to 32%. It also found that half of the young women who go into tech drop out by the age of 35, giving credence to Pirovich’s unfavorable experiences working in the industry.Some of you have never had to schedule dedicated time each month in your calendar to remove all the “nice boobs”/”she’s cute”/”can she actually code?”/”get back in the kitchen” comments from your technical videos on YouTube, and honestly? It shows.— Chloe Condon (@ChloeCondon) August 10, 2021

Meanwhile, an Oct. 2020 research report from Women in VC found that only 4.9% of United States-based VC partners are women. The data gets even more sobering when looking at how the numbers stack up against women from minority groups — only 0.2% of VC partners are Latinx women and 0.2% are black women. Susan Banhegyi, author of Women in Crypto and founder of Crypto Women Global agreed that the issues women face in crypto are the same plaguing women across the whole scope of male-dominated industries.“Some crypto communities can be less than welcoming,” she told Cointelegraph, citing harassment and a lack of inclusion as some issues.The first time I genuinely felt the sexism in tech was when I applied for a sys admin role when I was 16, and the interviewer told me “you’re a girl so you can’t do this job. You’re too weak to lift desktop computers”.Yes these guys exist.— Lou (@lovelacecoding) November 29, 2021

Emilie Wright is the founder of PULSE, a charity-focused and women-led NFT project. She said that in her experience, men in the industry tend to naturally make space for other men.“My experience, as a woman, is that it is harder to occupy that space, and if you push for it you are often met with questions about how deserving you are of it or your credibility,” she told Cointelegraph.“If I were a man, I would probably feel more accepted, doubt myself less and feel less of an imposter in the space.”The adoption gapGendered obstacles don’t only come for women wanting to work in the crypto industry, but also for those looking to invest in it. Previous discourse about the crypto gender tends to blame risk aversion. Crypto makes a notoriously volatile investment which is a pull factor for many investors chasing lucrative gains. Women stereotypically tend to be more conservative and risk-averse investors. But, perhaps this is an easy answer to a complicated question. Wright suggested that if risk aversion does exist among female investors, that’s only because it’s more “socially acceptable” for men to gamble and take risks. “Maybe as women, there is an underlying pressure on us to be safe, secure and stick to the known. For me, this risk is much more significantly acknowledged in the cryptocurrency space, and I see less women involved in cryptocurrency.”She added that when she first started investing in crypto, she would spend hours learning about the industry after working her usual nine-to-five job. She said, “I wonder if, as women with families, commitments and busy lives, it makes it much more difficult to actually enter the space.”Amy-Rose Goodey, the operations and membership manager at Blockchain Australia, has an alternative explanation. She said that women tend to shy away from investing because they aren’t confident in their understanding of how crypto works, and they don’t ask for help for fear of being ridiculed, stating: “The statement ‘women are risk averse’ has continued to circulate as the primary reason women do not invest in crypto. In my experience, this is not the case. Women are very keen to invest but do not feel confident in going through the process to buy.”“[Women] are more anxious about not knowing how to buy Bitcoin rather than losing the initial investment,” she said. “It appears to be more a question of confidence rather than risk aversion.”Their theories are backed up by research, showing that an individual’s confidence is by far the most pervasive predictor of financial risk aversion — regardless of the individual’s actual financial literacy. Goodey also said the crypto industry is already starting to make strides towards gender parity as it makes movements towards mainstream adoption: “From where I am sitting, there is a growing number of women diving headfirst into crypto and investment on the whole. I do not see slowing down any time soon with a growing appetite for this asset class.”This is true, the amount of women diving into the crypto space has skyrocketed this year as we inch closer towards mainstream adoption. In a United Kingdom survey from January this year, Gemini found that women made up 41.6% of the 2,000 respondents who were current or previous crypto investors. It also found that 40% of the respondents who said they planned to invest in crypto were women. Related: NFTs of empowered women aim to drive female engagement in cryptoIn July, Robinhood COO Gretchen Howard claimed the number of women using the trading application had increased 369% year-on-year.Looking at the historical data on gender disparity in crypto shows a pretty low benchmark for growth. In 2013, a survey on crypto forums across the internet found that out of the 1,000 people surveyed, 95.2% of “Bitcoin users” were male. A brokerage study from eToro in Feb. of this year found that 15% of its users were women, an increase from 10% the previous year. The road to representation As for the road to equal representation, Pirovich said that men need to be part of the solution. She said, “It’s about men supporting women to identify that you’re on an all-male panel. Just choose not to be a part of it until at least another woman is speaking and more equal representation or diverse representation is on that panel.” Wright agreed, saying that “there are some amazing men who are supporting and empowering women in the right way, but there needs to be a lot more done.”There is an incredible amount of sexism and discrimination in this space. I could not imagine being a woman in crypto – they take an incredible amount of undeserved criticism and are rarely taken as seriously as their male counterparts. This needs to stop.— The Wolf Of All Streets (@scottmelker) October 9, 2019

Banhegyi spoke to the importance of having gender parity in the workforce, stating, “The more women who work in this industry, the better, because a community is the foundation of any platform.” Crypto has the potential to empower women and give them more control over their finances. And for many women, mainstream adoption has already started to chip away at some of the accessibility barriers that previously stood between them and potential gains.

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The political Santas and Grinches of the crypto industry in 2021

The political Santas and Grinches of the crypto industry in 2021

Uverejnil používateľ | dec 21, 2021 |

2021 was a huge year for the crypto industry. A few years ago, our elected officials probably hadn’t even heard of crypto before, let alone had an opinion on it. However, this year it seemed like crypto was the hot topic on the block all around the globe. Here is a list of the most outspoken crypto advocates and critics from the parliaments and white houses around the world. Santa: Francis SuarezFirst up for crypto Santa is Miami Mayor Francis Suarez. In August, the city launched MiamiCoin (MIA). Revenue generated from the token is used to fund community projects in the city, with Mayor Suarez saying in a November interview that each Miami resident with a digital wallet could soon be eligible to receive a Bitcoin (BTC) dividend from the yield of MiamiCoin.The city of Miami mayor, @FrancisSuarez, proposed an official resolution that would make #Bitcoin an acceptable payment for various parts of the city’s administration. https://t.co/7lO8iaFHEO— Cointelegraph (@Cointelegraph) February 12, 2021In February, Suarez announced plans to enact the “most progressive crypto laws” in the United States. Fittingly, this year’s Bitcoin conference was held in Miami, attracting the largest crowd in the annual event’s history, cementing the city’s position as a growing hub for cryptocurrency.Grinch: Narendra ModiThe first Grinch who stole crypto-mas is Indian Prime Minister Narendra Modi. On Nov. 18, he called on all democratic nations to work together to regulate cryptocurrency, specifically Bitcoin, to “ensure it does not end up in the wrong hands which can spoil our youth.” He also shared his concerns that if unregulated, crypto could become an avenue for “money laundering and terror financing.” PM Narendra Modi called for united efforts to shape global norms for emerging technologies like social media and cryptocurrencies so that they are used to “empower democracy, not to undermine it”. #NarendraModi #Crypto #CryptoBill $ETH $SHIB pic.twitter.com/qz1Sl5wH9p— AltCoiners : India Banega Crypto SuperPower (@alt_coiners) December 11, 2021

On Nov. 23, the Indian government introduced a bill to impose a ban on “all private cryptocurrencies,” prompting a massive sell-off in the country. Since then, the creator of the bill, former Finance Secretary Subhash Garg, has dismissed the notion of banning “private cryptocurrencies” as a misinterpretation.Modi’s account was briefly hacked in mid-December with a tweet claiming that the country had officially adopted Bitcoin. The hackers’ tweet stated, “India has officially adopted Bitcoin as legal tender. The government has officially bought 500 BTC and is distributing them to all residents of the country. The future has come today!” Santa: President Nayib BukeleOf course, this list would be hardly complete without the one and only President of El Salvador, Nayib Bukele. In June, El Salvador passed President Bukele’s “Bitcoin Law,” which made BTC a legal tender in the country.A slew of protests followed as citizens became concerned that their savings and pensions were at risk, but merchants still accept Bitcoin as payment, as per the law.Since then, the Latin American country hasn’t slowed down on its crypto adoption with plans to build 200 ATMs and 50 branches capable of converting BTC into USD. The country has been slowly adding to its BTC reserve, and further plans to make a “Bitcoin City,” a full-scale municipal project with residential areas, shopping centers, restaurants and a port, all of which will be centered around Bitcoin adoption.First steps…#Bitcoin pic.twitter.com/duhHvmEnym— Nayib Bukele (@nayibbukele) September 28, 2021

Grinch: Elizabeth Warren Proving that cryptocurrency is indeed not a partisan issue, the next anti-crypto Grinch is Senator Elizabeth Warren. In a June session of the Senate Banking Committee, Warren described crypto as a “fourth rate alternative to real currency,” adding that it is a “lousy investment” because it has “no consumer protection.”The anti-crypto rhetoric didn’t stop there, with the Massachusetts senator saying that it’s “worth considering” banning U.S. banks from holding the reserves to back private stablecoins in a September interview with the New York Times. She also infamously called the cryptocurrency industry the “new shadow bank.” “Crypto puts the power in the hands of a shadowy, faceless group of super- coders and miners.” – @ewarren You scared?— Dylan LeClair (@DylanLeClair_) July 27, 2021

Only days later, she went after the Ethereum network in a Senate Committee Hearing with Gary Gensler. She said that “high unpredictable fees can make crypto trading really dangerous for people who aren’t rich.” Santa: Andrew BraggTalking about pro-crypto politicians, it would be hard to miss Australian Liberal Senator for NSW Andrew Bragg. He has been an outspoken advocate for cryptocurrency and digital assets in Australia over the past year. As the chairperson of the Senate Committee on Australia as a Technology and Financial Centre, Bragg oversaw the publication of Australia’s “crypto report” in October. Crypto reform plan: protecting consumers & driving new investment and jobs. pic.twitter.com/dbF6JHtENs— Senator Andrew Bragg (@ajamesbragg) December 8, 2021

The report made 12 recommendations intended to tackle key issues pertinent to the cryptocurrency sector including a tax discount for crypto miners using renewable energy, new licenses for crypto exchanges, an overhaul of capital gains tax in decentralized finance and new laws to govern decentralized autonomous organizations (DAOs). He also spoke out against Australian banks, which he claimed were dressing up “anti-competitive behavior” as regulatory compliance and debanking crypto customers. Grinch: Xi JinpingArguably, Chinese President Xi Jinping single-handedly played the most influential global role in crypto this year. Jinping has often spoken about the benefits of blockchain technology, and his administration is in the process of rolling out a digital yuan central bank digital currency (CBDC). Despite this, his government has taken some significant steps to limit the use of cryptocurrency in the country over the past year. As China introduced yet another crypto ban, one economics professor suggests that it’s clearly about promoting the digital Yuan. https://t.co/oUsnBlMF1N— Cointelegraph (@Cointelegraph) October 3, 2021

In June, Chinese regulators banned crypto mining in the country, forcing miners to relocate overseas. In late September, the communist nation went another step further, effectively banning crypto in the country.Santa: Mayor-elect Eric AdamsAnother pro-crypto U.S. mayor to make the cut is Eric Adams from New York. This year, we’ve seen some friendly rivalry between him and Miami Mayor France Suarez over who is the bigger crypto advocate out of the mayors. When Bitcoin podcaster Anthony Pompliano tweeted asking who the first American politician to accept their salary in Bitcoin will be in early November, Miami Mayor Francis replied saying that he plans to take his next paycheck in Bitcoin. Not to be upstaged, Adams one-upped his colleague, saying, “In New York, we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor.” In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!— Eric Adams (@ericadamsfornyc) November 4, 2021

He also said that he plans to make New York the “center of the cryptocurrency industry” once he takes office in January. Since then, Adams has been busy launching NewYorkCityCoin (NYCCoin), and has even indicated plans to add crypto to the curriculum in schools.Grinch: Brad ShermanWho could forget Congressman Brad Sherman’s anti-crypto rant at the House Financial Services Committee earlier this month? Attempting to illustrate how easily different cryptocurrencies can dethrone each other, he asked, “what could Mongoose Coin do to Crypto Coin?” In response, the crypto community minted a batch of mongoose-inspired coins overnight.Mongoose defeats Cobra Mongoose defeats Hamster-like creature This tweet is not intended to provide investment advice. pic.twitter.com/UmNhpDreup— Rep. Brad Sherman (@BradSherman) December 9, 2021

Sherman has been the U.S. representative for California’s 30th congressional district since 2013, and has made his case against crypto for almost as long. As previously reported by Cointelegraph, Sherman has reportedly received more than $100,000 in campaign donations from top financial firms. Santa: Matt WestAnother pro-crypto politician who made waves this year is U.S. Democratic candidate Matt West, although he perhaps has a slightly more personal connection to the industry. West spends his days campaigning for the upcoming Democratic primary election in May 2022 for Oregon’s 6th Congressional District. By night, he is a decentralized finance (DeFi) strategist for Yearn.finance. This is exactly the reason that we need a crypto-native person in Congress to represent and defend our community. You can count on me, but we need your help to get us to November 2022.https://t.co/6Ok5ICHF1G https://t.co/5mT9fcy5N5— Matt West for Congress (,) (@mattdwest) November 4, 2021

Although his platform is mostly on par with his fellow Democrat representatives in congress on other issues like the environment and healthcare, he has been very outspoken about the benefits of blockchain technology and cryptocurrency. In a November interview with Cointelegraph, West said that “cryptocurrency should not be a partisan issue. It’s too big for that.”

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Ripple chair's pay-off plan to convince BTC miners to adopt Proof of Stake

Ripple chair's pay-off plan to convince BTC miners to adopt Proof of Stake

Uverejnil používateľ | dec 10, 2021 |

Executive Chairman and Co-founder of Ripple Chris Larsen has unveiled his plan for Bitcoin miners to move away from Proof of Work (PoW), saying they should view it as “a net positive for their longevity.”He argues it could provide a major boost to the share prices of listed mining firms “as any new code proposal would almost certainly have to include lucrative incentives to gain their support.”PoW is the consensus algorithm that secures Bitcoin (BTC) transactions on the blockchain. While the Bitcoin network is the most secure and reliable, the amount of energy BTC mining requires causes endless debate in the crypto space. In a Nov. 10 blog post Larsen wrote:“The emerging solution among climate experts is that Bitcoin’s code needs to be changed to a low energy consensus algorithm like those used by nearly all other major crypto protocols. For example, while Bitcoin uses the energy of approximately 12 million US homes per year, other methods could drive that to fewer than 100 US homes.” Ethereum is already halfway through the switch to Proof of Stake. While Larsen said this would make Bitcoin an “outlier” he concedes that any similar change would be opposed by most Bitcoin mining companies. However he’s proposed a solution to fairly distribute the “900 Bitcoin per day” from block rewards and the “approximately 2.1 million additional Bitcoin are to be distributed through the year 2140.”He suggests that the “least disruptive” solution to BTC’s energy problem is to “take a snapshot of the current hash rate of existing miners and then reward miners on a pro-rata hash power basis.” “Existing miners would simply have rights to future Bitcoin rewards without the need to expend additional energy or make additional investments in mining rigs.”The billionaire businessman explained that his plan would give miners “additional economic benefit” and “lucrative gains” because they would gain the same revenue with less operating costs going towards their power bills. He suggested the “future rewards […] could be held and tokenized,” concluding that “while the process to enact these plans with consensus across the Bitcoin community will take time, the benefits far outweigh the risks.”“These assets could be extremely lucrative to existing miners, especially as Bitcoin goes from its current climate disaster status to a truly green financial technology of the future.”Larsen specifically referenced several U.S. mining stocks including Stronghold Digital Mining (SDIG), Hive Blockchain Technologies (HIVE), Canaan (CAN), Riot Blockchain (RIOT), BIT Mining (BTCM), Bit Digital (BTBT), Bitfarms (BITF), and Marathon Digital Mining (MARA).Related: Proof-of-stake vs. proof-of-work: Differences explainedNeedless to say, the proposals are unlikely to be welcomed by Bitcoiners — or miners who have ambitious plans to increase their share of the hashrate and would miss out on additional revenue through this plan. And judging by the controversy over changing the blocksize, if the proposal did gain some support it would almost certainly lead to a PoW fork.

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Congressman jokes about a Mongoose Coin: Now it exists

Congressman jokes about a Mongoose Coin: Now it exists

Uverejnil používateľ | dec 10, 2021 |

Democratic representative for California Brad Sherman joked about how ridiculous a “Mongoose Coin” would be on Wednesday — and by Friday it had become a reality. During Wednesday’s hearing on crypto at the House Financial Services Committee, Sherman spun a tale of an old woman who swallows bigger and bigger animals to eat the animals previously swallowed. He likened this fable to cryptocurrencies dethroning each other, explaining that Bitcoin (BTC) could be unseated by Ethereum (ETH), which in turn could be displaced by Dogecoin (DOGE), and then Hamster Coin, and then Cobra Coin. “What could Mongoose Coin do to Crypto Coin?” he asked. The African animal is of course known for eating other animals, including cobra snakes. It’s a metaphor, geddit?Rep. @BradSherman: “The number one threat to cryptocurrency is crypto. Bitcoin could be displaced by Ether, which could be displaced by Doge which could be displaced by HamsterCoin and then there’s CobraCoin what could MongooseCoin do to CryptoCoin?” pic.twitter.com/iHbHaikpx0— CSPAN (@cspan) December 8, 2021Sense of humor firmly intact, the crypto community responded by minting a batch of tokens relating to the speech overnight on Avalanche (AVAX), Polygon (MATIC) and Binance Smart Chain (BSC). The first coin that sprung into existence was Mongoose Coin ($MONG), which has a total market cap of $18.74 million with just under 3000 holders. “Named by Congress. Made by the Mongress,” states the coin’s Twitter bio. Mongress > Congress https://t.co/Wf31q0tsrN— Mongoose $mong $mongfi (@mongoosecoineth) December 9, 2021

In a Medium post outlining the coin’s roadmap, a spokesperson from Mongoose Coin wrote that $MONG is “A movement that captures the community’s fight against regulators, for freedom and for a common goal.”Other iterations of Mongoose Coin have also appeared such as GOOSE, which has grown 48,287.67% over the past 24 hours, and MONG which has grown 4,301.13%. Other Moongoose-related spinoffs such as Son of Mongoose ($SOM) and Baby Mongoose (BMONGO) have also been created. Later on in the hearing, Sherman asked: “will Mongoose Coin always have a value?” “I don’t know. I just made it up. It’s a joke. Although I said that about Hamster Coin, and then I found out there really was a Hamster Coin. It’s not fair to compare fiat currencies’ current system to what cryptocurrencies aspire to be.”Hamster (HAM) is indeed a real token. On Thursday, HAM had a trading volume of $113,570 at 6:30PM UTC, a few hours into the hearing. By 1:30AM UTC, the trading volume had surged by 624% to $822,139. It is down 18.6% over the last 24 hours and down 67.8% from its ATH according to CoinGecko. Brad Sherman is running a pump and dump group from the floor of congress. https://t.co/19SuHaiQKz— Miko Matsumura (@mikojava) December 9, 2021

Related: Crypto CEOs request Congress provide regulatory clarity at hearing on digital assetsDuring a Thursday interview, Sherman told Bloomberg that the crypto industry’s “self-mocking humor” is a threat to itself, and that memes only seem to inspire greed. “How can you pay anything for a Hamster Coin, if a joke made by a bald congressman from LA at a hearing is gonna rip your Hamster Coin with its Mongoose teeth.”

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