BabyShibaCoin is a new initiative aspiring to conquer a special place in the memecoin niche of the crypto market. The following sections summarize the main features of the project:
The token
BabyShibaCoin is an ERC20 token with a total supply of 420 million samples. Of the total amount of coins, 40% have already been burned before the official market launch. The projectβs tokenomics is declined as follows:
β’ Burn Wallet (before launch): 40% of the outstanding coins
β’ Burn Wallet (after launch): 3% of the liquidity
β’ Liquidity Pool: 30% of the supply
β’ Private sale: 3% of the existing tokens
β’ Presale: 30% of the coins
β’ Team: 3% of the liquidity (which is locked on Pinksale).
Each transaction on BabyShibaCoin comes with a 5% tax, which goes to Marketing, Development, Team, and buyback funds.
The goal of the project
According to the project team, BabyShibaCoin wants to target Shiba Inu (SHIB) fans and investors, aiming to reach 10% of SHIB market capitalization. Considering that, at the time of writing, SHIB market cap was above $15 billion, the goal is certainly an ambitious one.
The team also made clear that reaching this target would imply a 5000x growth compared to the initial listing value.
To achieve such a target, the project team claims to have a massive marketing wallet, ready to be used in order to spread the rumor about this new initiative.
Audit & KYC
InterFI has run a smart contract audit on the project; this is a typical check that involves most projects in the crypto world. The audit aims to verify that smart contracts do not have any technical bugs that may influence the stability of the project. InterFI completed the test and promoted BabyShibaCoin on this aspect.
Another routine check in the blockchain world is the KYC process, which basically aims to introduce an identity verification layer in the process on the developers. While some crypto projects purposely choose to keep the anonymity of their core team, this is not the case for BabyShibaCoin.
Disclosing the team identity to Pinksale is a choice that generally provides the market with a further guarantee of a projectβs seriousness in the blockchain world. If any of the KYCed projectβs team scams the community (e.g., followingΒ a rug pullΒ method), their name will be publicly revealed to the public by Pinksale.
Once the identity of the developers is known, any investor can file criminal charges against them.
Final thoughts on
... keep reading on reddit β‘
Today I created a new account in my Metamask wallet, and then sent 7.73 ETH (~ 17,000 $ at the current price) from an exchange to it. The transaction went through (https://etherscan.io/tx/0x94ba0929f5b7fde43fcb1210664dd2e7335702b36c10435b988a5e15f5247d31) and the ETHs went into my account normally. But just 13 seconds later, they were automatically transfered to an unknown addresss out of my control (https://etherscan.io/tx/0x9956fe0a86aef0ff6252af023baa662e202353d3715befaa671ba5ff71669d14).
I carefully examined the recieving address οΌhttps://etherscan.io/address/0xc48c4e7339cc1f885bdd4ea624429b4039540fed), over the past 40 days it has many transactions like this. It seems like my Metamask wallet has been compromised and a bot or smart contract automatically made the transfer.
By searching on Reddit and the Metamask support page, many people have encountered the same problem, but no solution to it. (for example: https://community.metamask.io/t/metamask-automatically-sent-to-other-address-without-action-taken/6456οΌhttps://www.reddit.com/r/Metamask/comments/nmve45/funds_got_transferred_out_of_metamask_wallet/).
So I guess the money is lost forever. But is there anything we can do to prevention it happen again in the future?
I am more bullish on ETH than any other cryptocurrency. It's my main DCA, I stopped buying Bitcoin to buy more ETH. I believe The Flippening will happen in the next 3-5 years.
But I think that 20 trillion dollars market cap is bullshit. Forget ETH, I would be more than happy if the whole crypto market cap was that much by 2030. The only way this could happen is if the US dollar loses massive value and I don't think it's possible for that to happen to a degree like in Venezuela, Argentina or even Turkey.
I love my Hopium as much as the next guy but be sure not to overdose on that fucker. To see ETH at $180k we would need for the Money printer to go brrrrr from now till 2030 non stop. Don't even want to think about the prices of goods and services.
Justin Sun seems to be clearing house and is dumping an insane amount of ETH on Binance.
Even after selling so much, his public wallet still holds around $ 3.3 bn in funds.
https://debank.com/profile/0x3ddfa8ec3052539b6c9549f12cea2c295cff5296
In the past several years, he created cult like shitcoins like Tron, BTT etc and kept huge amounts of the supply, pumped and dumped these things on his followers and accumulated a ton of ETH.
He promised the world for these shitcoins, while at the same time he was dumping them on his own followers lol
This is literally WTF! Imagine risking your 42 ETH for a newly created token that is not even known much.
A guy lost over $135k while trying to purchase a token named "fees.Wtf"
The user accidentally swapped 42ETH for 0.00004 WTF. ,the actual value of the token was just $0.000005
This happened due to low liquidity in the trading pool .
>Fees.WTF is a tool that allows users to track the fees they spend on ETH.It airdropped it's WTF tokens on Thursday.
>Use cases include staking WTF or it's liquidity pool tokens with annualized returns of up to 7,000%
As soon as the token got listed on ETH based exchange Uniswap,speculators hoping that an eventual price rise would net them handsome returns.In this race, the guy lost 42 ETH.
>The developers seeded the initial pool on Uniswap with over 2,211 WTF and 0.000001 ETH causing a huge imbalance in the trading pool. This allowed users to sell low amounts of WTF for relatively high amounts of ETH, while buyers of WTF ended up purchasing the tokens at a much higher value
Source : https://www.coindesk.com/markets/2022/01/14/someone-accidentally-lost-135k-trying-to-trade-feeswtf-tokens/
According to Time, the big drops this week to Ethereum and Bitcoin have followed a disappointing December jobs report, and the release of minutes from the Federal Reserve Board's December meeting, which signaled the central bank would begin slowing down measures to prop up the economy as it continues to improve.
Also, 18% of Bitcoins hash rate comes out of Kazakstan where the power went out January 5th for several hours due to the political turmoil which then caused an approx 12% drop in BTC price then it was downhill from there.
Basically, fear over interest rates and turmoil in Kazakstan is storing up a lot of crap in the crypto world. Letβs get ready to get this party started!
Yes, this is a great coin and it is a top technology, and maybe ETH will be number one but those damn fees..
I say this from the perspective of the average user.
How to explain to a newcomer who wants to buy, say, an ERC-20 token that he has to pay hundreds of dollars to perform ordinary transactions.
And then the newcomer needs to be explained that a fee that can cost him hundreds of dollars can be lost forever if the transaction fails.
Cryptocurrencies should make our finances easier, not harder. And I'm sorry to say this, but I think that with ETH 2.0, the fees will also be incredibly expensive.
In the real world, people arenβt used to paying that much for everyday transactions.
How do you even start researching and trading ETH if you are from some country where salary is less than the fee that we need to pay?
The vision of the crypto future should be cheap, nobody wants to pay a few hundred to enjoy that freedom.
No one should have to pay $25-$50 just to send any amount of money or approve a simple contract. If a bank charged you that amount to open a bank account, then another time to deposit your money, you just wouldnβt use it.
I hope in the coming years that the gas fees will be reduced to a fraction of a cent - kind of like Harmonyβs right now at their current transaction load. That, or more developers begin looking at building on networks with lower gas fees as their TVL grows, though none are anywhere close to Ethereumβs at the moment.
How does everyone feel about gas at the moment, and where we will be a year or two later? All the smaller networks are starved for apps, especially games right now :/
---
Edit: Just wanted to add on that I do know of and use L2 solutions - mainly borrowing platforms and DEXes. After reading some understandably angry comments I've learned a little more about them and how they leverage the Ethereum Network for scalability while protecting decentralization, though I'm nowhere near qualified to comment on the tech.
I guess my main point was that many of the more desirable or attractive projects or games (current and upcoming) are housed on L1 and are what currently draws new user interest, only for them to be turned away by the gas fees that first-timers are almost certainly going to be taken aback by. Considering present circumstances, that's just not great for new adopters, though I'm sure it'll level out sometime in the future.
While reports of large gains on alts attract many people to the crypto world, I'm ready to bet that nearly every traditional/retail investor would be thrilled about the potential gains of BTC and ETH.
A good reason to invest in them is because they are considered as blue chips. For those who don't know, a blue chip corporation is one that is financially stable. In this case, we're talking about cryptos, and a blue chip coin is one that has a market capital of more than $ 2 billion.
Another reason to invest in them is because of itβs support to projects like Qtum and Envision which brings the best of both coins mentioned in this article. When BTC rises, your entire portfolio climbs with it. Investing in BTC and ETH is equivalent to investing in the entire cryptocurrency market which also means that BTC and ETH also drive the market. Reinforcing the market and increasing the safety of your subsequent bets.
Yes, neither BTC nor ETH will offer you fast riches, but they both promise decent returns and allow you to hedge your bets. Everyone has a varied risk tolerance for a variety of reasons; there is no shame in aligning yours with the relative stability of BTC or ETH. You'd still have ETH and BTC working for you even if you lost your insane risky investment.
How much ETH do I need to HOLD or Stake or anything to make this happen?
$13 million of stolen ETH being sold live right now and you can watch the hackers getting rich on the blockchain: https://etherscan.io/address/0x4bb7d80282f5e0616705d7f832acfc59f89f7091
As confirmed elsewhere tonight (eg https://np.reddit.com/r/CryptoCurrency/comments/r92ztx/it_appears_bitmart_has_been_hacked_and_several/), BitMart was hacked and a huge number of tokens and coins were stolen.
The official list is available here: https://twitter.com/peckshield/status/1467302620000043013
As well as a range of shitcoins, CRO, FTM, GALA, SAND, MATIC and MANA were also looted.
But there is one upside: the ETH gas fees : )
So far the hackers have sold off more than $130 million of stolen coins .... and they're still selling as I type this.
BabyShibaCoin is a new initiative aspiring to conquer a special place in the memecoin niche of the crypto market. The following sections summarize the main features of the project:
The token BabyShibaCoin is an ERC20 token with a total supply of 420 million samples. Of the total amount of coins, 40% have already been burned before the official market launch. The projectβs tokenomics is declined as follows:
β’ Burn Wallet (before launch): 40% of the outstanding coins β’ Burn Wallet (after launch): 3% of the liquidity β’ Liquidity Pool: 30% of the supply β’ Private sale: 3% of the existing tokens β’ Presale: 30% of the coins β’ Team: 3% of the liquidity (which is locked on Pinksale).
Each transaction on BabyShibaCoin comes with a 5% tax, which goes to Marketing, Development, Team, and buyback funds. Β The goal of the project According to the project team, BabyShibaCoin wants to target Shiba Inu (SHIB) fans and investors, aiming to reach 10% of SHIB market capitalization. Considering that, at the time of writing, SHIB market cap was above $15 billion, the goal is certainly an ambitious one.
The team also made clear that reaching this target would imply a 5000x growth compared to the initial listing value. To achieve such a target, the project team claims to have a massive marketing wallet, ready to be used in order to spread the rumor about this new initiative. Β β Audit & KYC InterFI has run a smart contract audit on the project; this is a typical check that involves most projects in the crypto world. The audit aims to verify that smart contracts do not have any technical bugs that may influence the stability of the project. InterFI completed the test and promoted BabyShibaCoin on this aspect. Another routine check in the blockchain world is the KYC process, which basically aims to introduce an identity verification layer in the process on the developers. While some crypto projects purposely choose to keep the anonymity of their core team, this is not the case for BabyShibaCoin.
Disclosing the team identity to Pinksale is a choice that generally provides the market with a further guarantee of a projectβs seriousness in the blockchain world. If any of the KYCed projectβs team scams the community (e.g., followingΒ a rug pullΒ method), their name will be publicly revealed to the public by Pinksale.
Once the identity of the developers is known, any investor can file criminal charges against them.
Final thoughts on the initiative BabyShibaCo
... keep reading on reddit β‘
