12/09/2022. Weekly CryptoNews Digest and News from the HYIP Industry

Hello everyone, and welcome once more to the MNO blog – the only online blog in the English language dedicated to providing the latest updates from the leading online investment opportunities (also known as HYIPs) along with a regular news digest from the world of cryptocurrencies. For over fifteen years being online MNO has accumulated a unique experience while dealing both with investors and admins and I shared some of the best hidden secrets with my readers in the highly acclaimed by industry experts series of articles entitled HYIP Admins’ Dirty Secrets which instalments you can find by clicking here.

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And now let’s take a look at the most important events that happened over the last seven days in the regular Weekly CryptoNews Digest. We will be checking out everything that took place last week, September, 05 to September, 11, 2022.

When I started to write today’s CryptoNews Digest I didn’t realize there’s a certain anniversary, dubious if you will, but still noteworthy. It’s been a full year now since the small central American state of El Salvador adopted BitCoin as one of its official legal tenders. The country itself is one of the few in the world which doesn’t have its own national currency as issued by a central bank and made history in 2021 when BTC joined the US Dollar as legal tender, having abandoned its own domestic Peso in 2001.

So let’s take a look back at how things have gone in El Salvador since this momentous event. To be honest it was always going to be a gamble anyway, since a country the size of this one simply doesn’t have the population or the economy to significantly influence the value of BTC in the same way as let’s say China would, or even Iran or for that matter even North Korea when they want/need to. So when BTC lost 70% of its value it wasn’t really something that El Salvador could do anything about, much less even see coming. But despite sitting on a massive unrealized loss, the country (or should I say the government) still hasn’t given up on the initiative.

It was the summer of 2021 – shortly after the cryptocurrency had painted a fresh all-time high in terms of USD value – when the entire world was talking about the asset. Companies from the traditional finance industry, as well as giants like Tesla and MicroStrategy, were rushing to deal with it. The question remained if an entire nation will ever feel confident enough to do so, and the answer came during the 2021 Bitcoin Conference in Miami when El Salvador announced plans to legalize the cryptocurrency later that year. Despite the inevitable backlash from numerous entities and officials, the country’s President – Nayib Bukele – penned the new law on September 7 that same year. It came with a designated wallet – called Chivo – and a promise of $30 worth of BTC for every new user. The response from the cryptocurrency industry was immediate, with multiple companies, proponents, and everyone in between praising the country for its bravery. Many invested in the area and promoted it through its wide social circles, while some even claimed to have moved there. With this rapidly growing interest, foreign investments, and BTC’s increasing price (initially, but we will get to there), El Salvador started several bitcoin-related initiatives. The nation went into the BTC mining business, but it chose a more nontraditional approach. It started using its excess volcanic power to mine new bitcoins, and the first mined BTC came in early October 2021. Another one saw the building of a massive pet hospital fueled by the profits from its BTC endeavors. It opened in early 2022, and each procedure costs $0.25 worth of the cryptocurrency. Shortly after, a Bitcoin education center popped up as well. The country’s officials also invited representatives of 40 other central banks to talk about the Bitcoin adoption, the asset’s financial inclusion into a nation’s state, and much more. But perhaps the most ambitious idea came at the end of last year when El Salvador revealed plans to build an entire city dedicated to and focused on bitcoin. Additionally, it said it will fund the Bitcoin City by raising $1 billion in the form of BTC backed bonds – $500 million for more BTC purchases and the remaining for the city itself. Separately, the country has used quite a few opportunities to purchase BTC, and it currently holds 2,381 coins. All of the above seemed to have helped quite a few local sectors, especially tourism. The Minister of Tourism recently claimed that the number of people arriving in the country and spending more in it had increased by 30% since the adoption of BTC.

Not everything has been so easy though, for example the BTC holdings. El Salvador spent just a little over $100 million to accumulate its stash, but the market turned sour in the last several months, wiping out billions of the entire industry. As such, the country’s 2,381 bitcoins are now valued at $44.6 million – meaning, a massive unrealized loss. Despite some reassurances from the Finance Minister that the fiscal risk is “extremely minimal,” Fitch downgraded El Salvador’s rating citing those same risks from the BTC adoption. The International Monetary Fund is another global organization that had some harsh words to say to El Salvador’s president. Once again, it touched on the “large risk” that was the BTC adoption, which could create “contingent liabilities,” and urged the authorities to reverse their decision. However, Bukele doesn’t seem too offended. Several known anti-Bitcoin US Senators proposed a new bill aimed to investigate the effects of El Salvador’s BTC adoption. Despite the initial interest in BTC, perhaps fueled by the free $30 promised by the government, a more recent study revealed that locals are yet to fully turn to the cryptocurrency. And, touching upon the aforementioned $1 billion Bitcoin-backed bond – it’s yet to see the light of day. The country’s officials have delayed its launch on several occasions, citing the unfavorable market conditions.

All of the above seems somewhat logical and expected. Global organizations are meant to warn against such experiments, especially given their history and actual interests. Interest by locals is meant to spike initially and decline once the asset’s price retraces. Government officials are meant to defend their decision. And although one year is a long time in the cryptocurrency industry – a lot can happen, and it usually does within this time frame – it’s basically nothing from a real-world perspective. As such, it’s hard to judge if there’s something “ugly” and conclude whether El Salvador’s experiment has been a success or a flop yet. But, the fact that the asset’s price is down by about 70% since its peak (reached after the BTC adoption) and El Salvador sits on a massive unrealized loss but has not given up on its idea should count for something.

Blockchain data analytics firm Chainalysis has revealed that U.S. authorities have seized cryptocurrency worth $30 million from North Korean hackers. The seizures represent approximately 10% of the total funds stolen from Axie Infinity. Law enforcement units utilized advanced tracing techniques to follow stolen funds to cash out points in collaboration with industry players to quickly freeze funds. More than $600 million from Ronin Network, a sidechain built for the play-to-earn game Axie Infinity, were stolen in March. Chainalysis explained that North Korean linked hacking elite Lazarus Group gained access to five of the nine private keys held by transaction validators for Ronin Network’s cross-chain bridge. The hackers then initiated two withdrawal transactions: one for 173,600 Ether and the other for 25.5 million USD Coin, the firm detailed, noting that the North Koreans laundered these funds using over 12,000 different crypto addresses to-date. The stolen ETH coins were mixed in batches using the popular mixing service Tornado Cash, Chainalysis continued. However, following the sanction of Tornado Cash by the U.S. Treasury’s Office of Foreign Assets Control Lazarus Group has moved away from the popular Ethereum mixer, instead leveraging defi [decentralized finance] services to chain hop, or switch between several different kinds of cryptocurrencies in a single transaction, the Blockchain data analytics firm explained. The director of investigations noted that one of the most troubling trends in crypto crime right now is the stunning rise in funds stolen from defi protocols, and in particular cross-chain bridges, elaborating that they estimate that so far in 2022, North Korea have stolen approximately $1 billion of cryptocurrency from defi protocols.

Bitcoin surged past $22,000, marking its best day in months as the U.S. dollar index fell by 1% and markets were buoyed by the US Federal Reserve (i.e. the American central bank) hinting at a softer monetary approach. Bitcoin rose more than 10% in a single day, its largest daily percentage gain since mid-July. Bitcoin rallied the most since July, breaking out of the narrowest trading range in about two years, as a drop in the dollar renewed demand for battered risk assets worldwide. The largest cryptocurrency by market value advanced a whisper above 10% to an amount over $22,000 at the time of writing. The increase was the most since July 19. Bitcoin is outperforming most of the other top tokens such as Ether and Cardano. Bitcoin and Ether are however still both down about 50% this year.

At the risk of bringing politics into MNO, something I’ve usually vowed never to do, it can’t be denied watching current events unfold that you can be considered extremely unlucky to be born in a country that borders Russia. Ukraine being the obvious one right now, but also Georgia. It’s been a welcome bit of good fortune then in this last week that a small number of Georgians have come into some extremely good fortune. An hours-long bug by crypto exchange Coinbase has allowed numerous traders from that often troubled nation to sell their cryptocurrencies for as much as 100 times their market value at other exchanges. The company is currently attempting to retrieve the funds from bank accounts in the nation that lies at the intersection of Eastern Europe and Asia. An error that is believed to be caused by a third party provider allowed an estimated 900 Georgian traders to sell various cryptos at a highly profitable exchange rate for the country’s fiat currency, the Lari or GEL, which is currently priced at about USD 0.35 per GEL. In late August, prices for cryptos denominated in Georgia’s national currency had been rated at GEL 290 instead of GEL 2.90. The missed decimal point had been due to a ‘third-party technical issue,” a spokesperson for Coinbase stated. That said, the pocketed profits might not stay with the traders for long, as indicated by Coinbase’s rapidly launched campaign to collect the funds. Shortly after withdrawing related funds from Coinbase, Georgians said they received notification from their financial institutions advising them their bank accounts and associated Visa debit cards had been frozen. “Hello, we have marked your transactions with Coinbase as suspicious and we’re locking all your accounts and cards,” reads a text message one Georgian bank sent to customers. “Please be aware that Coinbase may request clawback of the funds. Sorry.”

Georgia was not included on Coinbase’s list of supported countries, in contrast with its neighbors Armenia and Turkey. A Georgian trader commented that Coinbase was to be blamed for multiple levels of failure as they had no checks. Even worse, when they detected unusual activity, which they should have detected, they failed to act on it for over seven hours. Meanwhile, Georgia’s government is making efforts to update its crypto regulation in line with the European Union in the hope that the move will help the nation become a hub for the global industry. Earlier this month, Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development said a bundle of draft bills had been sent to the country’s parliament. Interesting times to come there for sure.

And finally for this week’s crypto news digest, the eagerly awaited Ethereum blockchain merge is officially underway, in preparation for completion at some point this week. The Bellatrix upgrade, the network’s final “hard fork” before the merge, has already been activated, marking the beginning of Ethereum’s transition from a proof-of-work to proof-of-stake model. In the days before the merge, Binance has already announced the launch of Ethereum staking on its platform which allows users to earn rewards at a starting rate of 6% annually, one of the highest rewards in the industry.

The so called “Terminal Total Difficulty” (TTD) value triggering the Merge has been set at 58,750,000,000,000,000,000,000. Normally I’d spell that number out for you, but in this case if I’m honest I don’t even know what it’s called. Billions of billions anyway. This number, which will represent the cumulative difficulty of all mined Ethereum blocks, is expected to be reached some time this week. Predictions right now are that it will happen around Thursday, give or take a day or so. When the TTD number is reached, the network will merge its Execution layer with the new PoS Consensus layer, allowing the chain to continue on with a new system for issuing and authenticating blocks of transactions. According to the Ethereum Foundation, a non-profit organization funding Ethereum ecosystem development, the Merge will cut the network’s energy usage by 99.95% and set the stage for further improvements to its core infrastructure. At the point of the Merge, the difficulty level on Ethereum’s PoW network will increase to the point where mining new blocks will no longer be possible. The Merge has been a long time coming, and the Beacon Chain was first introduced in December 2020. Last month, Ethereum merged its Goerli test network (testnet) from PoW to PoS – marking the third and final dress rehearsal for a Merge. The completion of the Merge will mark the end of Ethereum’s energy-intensive proof-of-work chapter. The next steps on Ethereum’s roadmap involve improving fees and transaction speeds via sharding and rollups. The price of Ether (ETH) was recently $1,665, up 6.24% over the past 24 hours.

That’s it for our Weekly CryptoNews Digest. Hopefully you have enjoyed it, guys. If so then check the MNO blog out next week for more. And now let’s get back to the HYIP industry.

NEWS FROM THE HYIP INDUSTRY

ROBOTICSONLINE – TAX REPORTS AVAILABLE, TELEGRAM MODERATORS WANTED, AND WIDER NEWS

This week we should finally see if RoboticsOnline is going to honor their obligations to investors whose deposit terms were extended a few weeks back from 12 to 36 business days (without any choice offered on the matter). Over the last weeks that followed this announcement RoboticsOnline kept paying only referral commissions payments and now it’s the right time to see if it’s going to continue doing the great job by providing timely payouts to investors which it has been famous for for over three years now.

If you read my full review of RoboticsOnline posted here, you’ll know that originally the 12-business day term offered variable daily returns of about 0.4%-0.5% daily with a one-time payment offered on expiry of the term. According to the new terms though this period has been increased to 36 business days while the variable daily return has decreased to about 0.35% per day, giving you a total return of about 12% profit at expiry.

Just as before, your BTC, LTC, and ETH funds will be converted to USD on making an investment and back to the currency where your deposit was made from on every withdrawal request. In order to save yourself from various cryptocurrency fluctuations there is another option to invest with RoboticsOnline using USDT ERC-20 funds. The minimum investment is $50 while the minimum withdrawal levels are currently set to $50 to withdrawals to Tether, $25 for LiteCoin or Ethereum, and a whopping $200 to BitCoin.

It looks to me though that RoboticsOnline might actually return to paying status for the renewed investment plan thus putting the sceptics to shame. At least the admin has been busy last week by adding another feature that might be useful to those actually paying taxes on their cryptocurrency earnings. I don’t know myself how many of you guys are doing this, but I certainly am not aware of anyone willing to share their profits with their respective governments. Anyway, if you are somehow one of them then all you have to do is to login to your RoboticsOnline account and click on Reports located below the main Dashboard button. Then you’re able to download your tax report using the chosen parameters.

Also, you might be aware of the fact that the admin of RoboticsOnline leads quite a busy Telegram channel where daily updates are posted from the cryptocurrencies and robotics worlds – the main fields the company allegedly invests money in. And among the news you can read below posted over the last seven days you will find the request for Telegram group moderator positions which main task will be clear the channel from various bots and spam messages. If interested you may apply as stated in one of the latest updates from RoboticsOnline reposted below for your convenience:

“The Tax Report We All Waited For… Is Available!
Calculating taxes when you work with crypto can be extremely challenging due to several factors, including the ever-changing prices, using multiple trading platforms, different prices on different platforms, etc.
Let alone your tax report, which needs to be extremely precise. This is why we believe that the ability to download a full report of all transactions would be a great help.
And here we are!
We launched the Reports feature!
There you have confirmation of the returns of your investments, information about deposits and withdrawals, in other words, everything you need for your tax report.
To access and generate your Reports, log in to your Robotics.online account and access the Reports menu in the Dashboard.”

“Since our Telegram group has been flooded with bots and other people with bad intentions, we are looking for a few users to help moderate our Telegram group, write us @roboticsonline”

“US Pension Funds Seek…
The VanEck asset management firm’s increased interest in crypto assets: WSJ piece.
Although there is a discernible increase in interest in the cryptocurrency field, the 2022 bear market has pension fund managers debating whether to increase or decrease their holdings in cryptocurrencies.
While some funds like the Houston-based firefighters’ fund have placed $25million into Bitcoin and Ether, considering the bear market to be the best time of investment. There are considerable funds like a California-based Teacher’s fund, which has refrained from crypto involvement, citing the precarious nature of the market.”

“Co-Founder Of MakerDAO Advises…
MakerDAO co-founder Rune Christensen reached out to the community in light of recent conversations about decoupling its native token from USD Coin (USDC) amid the sanctioning of Tornado Cash to explain why free-floating Dai (DAI) may be the only option for the DAO.
In his latest blog post, Christensen undervalued the hazards associated with risk-weighted assets (RWA).
Christensen stated that “we must choose the route of decentralization, as was always the idea and the objective of Dai,” while admitting the protocol’s incapacity to abide by regulators.”

“Dubai Issues Crypto Marketing…
The city’s specialized cryptocurrency regulator, Dubai’s Virtual Asset Regulatory Authority (VARA), unveiled new rules on Aug. 25 regarding virtual assets’ marketing, promotion, and advertising.
According to the local news source Gulf News, the VARA refers to all forms of outreach, communications, advertising, information dissemination, awareness-raising, customer engagement, investment solicitation, etc.”

“GameFiInvestors…
While about half of the investors first entered the GameFi market to make money, 89% of GameFi investors lost money due to Crypto Winter 2022.
81% of GameFi investors are shifting away from the conventional approach and valuing pleasure over profit as they look for positive in-game experiences regarding future GameFi ventures.”

“0.3% In Assets’ Could Render…
The murky origins of Tether’s (USDT) reserves and its eagerly anticipated audit, which has been in the works since 2017, were the main topics of a Saturday investigation by WSJ journalists Jean Eaglesham and Vicky Ge Huang.
According to Eaglesham and Huang, a “thin cushion of equity” might destabilize the market if Tether’s liabilities exceeded its assets.”

GET PAID REPORT FOR 12/09/2022

Here is the list of the programs from my monitor that paid me for the last 168 hours:
From MNO Sticky list: –
From MNO Premium list: –
From MNO Standard list: –
From MNO Basic list: SteelWaves (the first payments received).

That’s all the news I have for you today, guys. Thanks a lot for reading and I hope to talk to you again pretty soon. I wish you the best of luck in your journey to riches with MNO – For Money Lovers!