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On March 22, global crypto exchange LBank launched the third edition of the online AMA event “Exploring New Narratives for 2023” through its official Twitter account. Over 40,000 listeners tuned in to the previous two editions to hear what industry experts had to say about the current state of crypto and blockchain. This article compiles what insiders think about the impact of Federal Reserve rate hikes, their outlooks on the bearish market, meme coins, and the rise of CBDCs.
1. LuckyStar, Builder, BSDAO
LBank: You mentioned that Bitcoin’s Fear & Greed Index is currently hovering around 60, the highest level since November 2023. How much importance should be placed on that figure, and how much do you think it will fluctuate in the coming months?
LuckyStar: The recent fluctuations of Bitcoin’s price have confused many people. The surge in its price may be due to various factors, such as pressure on the banking system, a high likelihood of interest rate hikes, and the US government’s BTFP program, which injects liquidity into the market. However, Bitcoin’s value is still linked to the US dollar economy and is affected by trends on Wall Street, the US Dollar Index, and US bonds. The outbreak of COVID-19 and the Silicon Valley Bank incident have also affected the crypto market. The development of decentralized stablecoins may be an important narrative for the future of the crypto market.
The upward trend in the crypto market may continue until the end of April due to the provision of liquidity, although I am not very optimistic about the market in the second half of the year due to the possible domino effect that failing banks can cause. It is also possible that the crypto industry itself may repeat the same mistakes of the 2008 financial crisis.
2. chúng tôi Social Media Manager, Saito Network
LBank: Why do you always claim that meme coins matter for this industry?
nnova.eth: Meme tokens definitely are important and will play a significant role in the future of Web3. They are expanding beyond being just a token with the name of a dog species and actually building layer 1 ecosystems, which is a bullish signal. Memes are a form of cultural expression that can convey complex ideas in a simple format and can create a sense of community, and inspire people to take action. Meme tokens are high-risk assets, and it’s difficult to predict their market movements, but I suggest you keep an eye on the biggest meme projects nonetheless.
3. Jay Wong, Global Partnerships Manager, CB Recruitment
LBank: Do you believe meme coins have sufficient utility and value?
Wong: I am not interested in meme coins, but do track the value and utility of a project. For example, Shiba Inu (SHIB) is a project that has a strong community, but I question whether the virality of meme coins is necessary to build a successful platform. I believe they may play a role in the future of gaming and in attracting a younger demographic. However, I want to see a value proposition from layer 1 and layer 2 projects that differentiate them from existing platforms.
LBank: What are your thoughts on the adoption of CBDCs?
4. Sonny Kong, CFO, Superpower Squad
LBank: Arbitrum (ARB) has been making quite some waves in the industry. Why is that?
Kong: Arbitrum is a layer 2 network based on the Ethereum blockchain, providing scalability and efficiency for dApps and smart contracts. Projects focused on solving real-world problems and improving user experience, like ARB, are more appealing to institutional investors. The recent trend of projects combining artificial intelligence, decentralized identifiers, and social media have the potential to create innovative applications and attract a larger user base. I expect to see more projects that offer new use cases and improve user experience in the blockchain space.
5. Crypto Meina, Founder of Crypto Meina Podcast
LBank: What will be the impact of further interest rate hikes on macroeconomics in the crypto market?
Crypto Meina: Raising interest rates to curb inflation could obviously lead to a liquidity crunch and slower economic growth, while the crypto market is likely to remain correlated with traditional markets in the short term. The Circle (USDC) pegging incident was an isolated event, but there may be more regional banks with similar situations. I recommend retail investors maintain a focus on quality assets like Bitcoin and Ethereum.
6. Victor Lee, CEO, ThirdFi.org
LBank: As a professional investor, what are your outlooks for the market sentiment toward the end of 2023?
Lee: The market is currently rebounding, despite this being contrary to the current Bitcoin housing cycle. Banks running out of money is the catalyst for this. While the sentiment among investors has not yet shifted, this contrarian trend is getting more obvious. The market will remain volatile and will continue to fluctuate for a good while.
LBank: In the past, you have brought up the conflict between regulation and the adoption of globalized digital assets like cryptocurrencies. What does that conflict look like?
Lee: The government is controlling the most precious commodity in our lives; our money. People around the world are slaves to debt-based economies. Governments are minting more of their currencies, while Bitcoin and other cryptocurrencies are becoming more valuable. The government’s attempt to regulate and slow down the process of cryptocurrency adoption is a contrarian bet, but ultimately the free market will do its work and people will demand access to these products that allow them to control their own wealth.
LBank: What is your take on the adoption of CBDCs?
Lee: CBDCs will allow for easy transactions between different parts of the world without relying on intermediaries or centralized entities. Blockchain technology can replace the current financial system, but it will require time for people to adopt it. Besides that, CBDCs can bring more transparency to the financial system and hold the government accountable. Introducing CBDCs is a better way to improve the financial system rather than completely replacing it. The usage of CBDCs by banks and governments will be beneficial to everybody.
LBank: What are your thoughts on the adoption of CBDCs?
Naziroglu: Venture capitalists will eventually move towards government-backed digital currencies, and the adoption of CBDCs may actually be driven by interest rate hikes and the potential impact on inflation and debt for countries with currencies pegged to the US dollar. CBDCs could be beneficial for smaller nations looking to hedge against risks by allowing them to denominate their debt in their own currency. However, the adoption of CBDCs may come with the loss of some personal freedoms.
8. Joshua Sum, Co-Founder & Core Lead, College Dao
LBank: What is your take on the adoption of CBDCs?
Sum: CBDCs have a clear use case and are a step in the right direction, but central banks are not keen on them right now, and infrastructure and education are major hurdles. We are involved in blockchain education and believe that the industry needs to do a better job of teaching the public and lawmakers about this technology before we can achieve further adoption.
9. Samuel, Founder, EKOS LLC
LBank: Can you elaborate on the importance of the freedom to transact and how blockchain technology provides an alternative to centralized payments?
Samuel: While regulation protects consumers and maintains stability, recent actions by the US government indicate their interest in undermining the blockchain industry. Self-regulation using code and AI to translate this code into language can help solve the problem of understanding and verifying smart contracts. However, there’s a need for balanced rules that don’t undermine the core ideas of the industry and acknowledge that achieving this balance requires collaboration between the industry and regulators.
LBank is preparing the next “Exploring New Narratives for 2023” Twitter Space. If you are interested in participating, don’t hesitate to contact us.
Email: [email protected]
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At the first Snap Partner Summit today in Los Angeles, Snapchat unveiled four major announcements for the platform. It has launched its new Snap Games platform, introduced new AR camera features, announced new original content, and unveiled third-party app integrations via App Stories, Bitmoji Kit, Creative Kit, and Ad Kit. Notably, the App Stories tool will bring the platform’s popular Stories to third-party apps like Tinder and more for the first time.
After the Snap Partner Summit, Snapchat detailed all the announcements in a press release.
“Landmarkers” will be a new way for users to have fun with Lenses at popular landmarks around the world in augmented reality. Landmarkers were made by Snapchat users and offer the ability to have fun with 5 landmarks.
Today’s Lens Studio update now includes even more templates for augmented reality creators — including Landmarkers, which empower creators to build Lenses that can transform the world’s most iconic landmarks in real-time. There are also new templates for hand-tracking, body-tracking, and more, which you can use to create Lenses that could appear when Snapchatters use Scan!
Another update to Snapchat’s camera features is the “Scan” platform gaining two new partners to allow users to find GIFs based on real world objects powered by Giphy. Users will soon be able to also get help with math homework via a new Photomath integration.
Along with these new features, Snapchat is gaining a new “AR Bar” menu. Check out the video below detailing the updates:
Another major announcement from the summit today was the launch of company’s Snap Games platform, which had been rumored last month.
But friendship is more than just the things you talk about. Friendship is also about the experiences you have together — so we’ve been working hard to build an entirely new experience for friends to play together.
Introducing Snap Games: mobile games, made for friends!
The first game launching today is Bitmoji Party (a la Mario Party-style mini games), with five more titles arriving on the platform:
In Bitmoji Party, you can play as yourself in a series of quick, wacky mini-games.
In Tiny Royale from Zynga, you and your friends shoot to the top in bite-sized Battle Royale action.
In Snake Squad from Game Closure, you and your squad work together to be the last ones standing!
In C.A.T.S. Drift Race from ZeptoLab, you’ll drift around the track and speed past friends for the win!
In Zombie Rescue Squad from PikPok, your squad will rescue survivors in a zombie-infested city.
In Alphabear Hustle from Spry Fox, you’ll collaborate to form words — fast! — to build your village.
Here’s the rundown on all the new developer tools:
Today we’re excited to announce new Snap Kit experiences:
Introducing App Stories
App Stories allow Snapchatters to share content right from the Snapchat camera to a Story inside another app.
Share a Snap of your hidden talent to a Story on your Tinder profile.
Share a Snap of your day to a Story on Houseparty.
Share a Snap of your latest trip on AdventureAide to inspire customers to join you next time.
Conversation is so often about the content and causes you care about. We’re excited to announce that soon, you’ll be able to share custom stickers from your favorite services right on a Snap.
Use Netflix to share the show you’re watching.
Use Breaker or Anchor to share the podcast you’re listening to.
Use Anghami (in the Middle East) or JioSavvn (in India) to share a song you love.
Use GoFundMe to share a meaningful cause.
Use VSCO to share a beautiful photo with your friends on Snapchat.
With many of these integrations, friends can simply swipe up to watch, listen, or donate on their own!
Bitmoji Kit helps our community bring their Bitmoji with them to even more places.
Use Bitmoji to add context to your payments on Venmo.
Watch your Bitmoji react, right on your wrist, as you move with Fitbit. Now that’s self-motivation!
Introducing Ad Kit
We’re accepting applications for Ad Kit and App Stories (part of Story Kit) at chúng tôi beginning today.
Snapchat further detailed its success with original content so far and announced more to come.
Today we’re excited to announce our new slate of Snap Originals programming!
These Shows span docuseries and scripted, comedies, and teen dramas — but they all have one thing in common. It’s not just the Shows that are original, it’s the way the stories are told.
Here’s a look at all the original shows:
In Two Sides from New Form, a young couple navigates a breakup — told from both characters’ points of view at the same time.
Can’t Talk Now from New Form is a teen soap that takes place inside the phones of a few high school freshman BFFs.
In Commanders from Dakota Pictures, two high school outcasts discover a retro computer with a mysterious code that can alter real life.
Denton’s Death Date from Insurrection Media centers on Denton Little: a high school junior whose death date is only a week away.
While Black from Indigo is a docuseries that explores racially charged social issues through disarmingly candid conversations led by author, filmmaker, recording artist, and educator MK Asante.
BuzzFeed’s upcoming daily afternoon show will bring viewers the latest celebrity, entertainment, and sheer OMG moments blowing up the internet.
In Dead of Night from Bazelevs, a teenage girl must escape a quarantined city full of zombies armed with only her phone.
Compton Dreams from October Films is a docuseries following the highs and lows of three up-and-coming artists from Compton.
In Stranded with Sam and Colby from Bunim/Murray, two paranormal investigators go off the grid into a cursed Pennsylvania town.
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It just got tougher for malicious individuals to take over Twitter accounts. Today the microblogging giant is offering users a more robust two-factor authentication method to sign in to their accounts.
The new two-factor authentication is an application based verification, which basically means that it’s a system that provides a secure mechanism without having to rely on codes sent via SMS or other third-party solutions.
With the new mechanism users can enroll by using a supported mobile app, which will generate a 2048-bit RSA key pair. This is a private key that is store in the phone and a public key then is sent to Twitter.
The next time a user tries to sign in, Twitter will send a challenge based on a 190-bit, 32 character code, to the mobile app. Then the user gets a notification to approve or deny the sign in request. If approved, the app will automatically reply to challenge with the private key stored in the phone. Twitter verifies the entire transaction and only then the user is granted to get access to the social service.
According to a new article on WIRED, Twitter wanted to implement “two-factor”, but the company didn’t want to follow everyone’s footsteps (e.g., Microsoft, Google, Apple, etc.). As a result the new secure verification does not require a phone number, users can backup codes generated by writing it down on a piece of paper and storing it in a safe place (users can even use the code to access the social network from the web browser), and when new login request is made, users can verify and approve the request. Now you only need a the Twitter app and an internet connection.Authenticate without a phone
If you don’t have your phone, the company has also a method to get around this scenario. Basically, you’ll need to use the backup code, which then is checked by Twitter’s servers and if the result matches, you’ll be able to sign in.
To make the backup code work without sharing secrets, we use an algorithm inspired by S/KEY. During enrollment, your phone generates a 64-bit random seed, SHA256 hashes it 10,000 times, and turns it into a 60-bit (12 characters of readable base32) string. It sends this string to our servers. The phone then asks you to write down the next backup code, which is the same seed hashed 9,999 times. Later, when you send us the backup code to sign in, we hash it one time, and then verify that the resulting value matches the value we initially stored. Then, we store the value you sent us, and the next time you generate a backup code it will hash the seed 9,998 times. — Twitter details.Instructions
To configure the new verification system in your Twitter account follow these step-by-step instructions:
1. Make sure you have installed the latest version of Twitter mobile app.
2. From the Me tab, open Settings and choose Security (Android users have to tap their name before selecting Security and users using a web browser simply need to scroll down on the Settings page and continue on the next step).
3. Enable Login verification.
4. Write down the generated backup code and store safely.
5. After you’re enrolled, you can use the Twitter app to approve or deny sign in requests from one or all your accounts.
The new end-to-end secure verification system is available today. Twitter is already pushing a new update to support the two-step authentication mechanism for Android and iOS, but sadly Windows Phone users will have to wait a bit longer. Also keep in mind that this new way to sign in to the social network is not a replacement to the already SMS-based login verification released back in May, it is just a new addition.
With iOS 12, Apple launched a new Screen Time functionality for monitoring device and app usage. As part of that, TechCrunch reports today that Apple is cracking down on third-party screen time trackers in the App Store with stricter reviews and in several cases, removal from the App Store.
What’s important to note is that these applications had not been using any official, Apple-approved frameworks or methods for tracking screen time. Instead, they relied on combinations of VPNs, MDM solutions, and background location functionality. In some cases, they create privacy concerns for Apple and the end-user.
TechCrunch outlines several applications affected by Apple’s crackdown on screen time workaround apps. One such app is Mute, which publicly announced its removal from the App Store in October, while another is the three-year old screen time app Space, which was removed in November.
Several other applications were also reportedly removed from the App Store or had updates rejected, but did not want to be publicly named. In most cases, developers were told they were in violation of an Apple Store guideline related to location functionality:
Some of the developers, we understand, were told they were in violation of App Store developer guideline 2.5.4, which specifies when multitasking apps are allowed to use background location. Specifically, developers were told they were “misusing background location mode for purposes other than location-related features.”
Other apps were cited for violation of a different guideline related to how they implemented public APIs.
However, it hasn’t been all bad news for some of these screen time applications. Both Space and Mute, after going public about their removal from the App Store, were contacted directly by Apple for additional details on user privacy and how they use location-based services. In the case of both, the apps were reinstated to the App Store.
The Apple reps asked the companies about how they handled data privacy, and reminded them they have to have a customer-facing feature that requires location-based services in order to legitimize their use of such an approach, they reported.
“We are of course hugely grateful that Apple has chosen to continue to allow our business to operate,” said Space CEO Georgina Powell.
Not all applications have had such luck, though, including OurPact and ACTIVATE FITNESS. Both of these applications were informed by Apple that they could no longer use MDM – mobile device management – technology for building screen time functionality.
Amir Moussavian, CEO of OurPact parent company Eturi, said the following in a statement to TechCrunch:
“Our team has received confirmation from Apple that managing application access and content outside of iOS Screen Time will not be permitted in the Apple device ecosystem. It’s incredibly disappointing that Apple is choosing to dissolve the iOS parental control market at a time when childhood and adolescent screen time management is finally being understood as a necessity.”
Other applications, such as Kidslox, haven’t been completely removed from the App Store yet, but instead Apple is rejecting recent updates to the apps. Kidslox CEO Viktor Yevpak accused Apple of “systematic destruction” of the third-party screen time management industry in a blog post.
But sources familiar with Apple’s thinking dismissed this as being some sort of targeted crackdown against third-party screen time apps. Rather, the pushback developers received was part of Apple’s ongoing app review process, they said, and noted that the rules these apps violate have been in place for years.
Apple has a history of going against applications that mimic built-in iOS functionality, but whether or not that is actually what’s going on here is unclear. The timing of the crackdown on APIs used by third-party screen time apps, which is just months after the introduction of the first-party Screen Time feature, is certainly suspicious.
Subscribe to 9to5Mac on YouTube for more Apple news:
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Twitter acquires Summify for social aggregation
The folks at Twitter have picked up a startup by the name of Summify, a group whose main goal it is to aggregate the social media users around the world deal with on a daily bases. As Twitter scoops up this company, so too does the Summify team move over to San Francisco and their products be transitioned into Twitter-centric orbs. Their main service, the aggregation product which moves Twitter, Facebook, RSS, and other streams into one product, will be shut down inside a month.
Twitter is always looking for ways to streamline their already seemingly simple system – it’s just a bunch of text, right? No way, says Twitter, it’s much more complicated than that, and the amount of data they must filter already with all of this “just text” comes down to one thing: they need more hands to help. What Summify is set to do is not only help them on the back end, but bring forth a possible front-end interface change to Twitter down the line as well. Imagine a much simpler way to have all of your social media filtered through Twitter instead of having yet another system to work with?
Twitter’s user base is still expanding, believe it or not, and they’ll continue to scoop up companies like Summify to make the move into the future. While Google+ and Facebook have algorithms galore to work with relevant content filtered in to users based on their interests, with new features as such being launched constantly, it’s high time Twitter stepped their game up once more to stay fresh. Are you still using Twitter?
Summify, for those of you unfamiliar, is known for its two founders, Mircea Paşoi and Cristian Strat, two former interns of Microsoft and Google, having come from Romania to set their headquarters in Vancouver, now moving on to Twitter to stay! Their message from their official blog post outlines their changes to the platform in the coming weeks as thus:
What happens to Summify?
We will be disabling new account registrations immediately and we will also be removing some features. We will keep the email summaries for a few more weeks, but at some point we will shut down the current Summify product. In the meantime, if you’re a user of Summify you’ll still receive your summaries, just like before.
What features are you removing?
Starting today, the following changes will take effect:
We’re removing the ability to make your summaries public (i.e. all summaries will be private)
We’re removing profile pages and influence pages
We’re removing the auto-publish feature
We’re disabling user registration from the website, iPhone and Hootsuite apps
Why are you removing these features?
We are offering a more streamlined service as we transition our efforts to working at Twitter.
Will you still be in Vancouver?
We will be moving down to San Francisco and will work out of the Twitter office.
What will you be doing at Twitter?
We are joining Twitter’s Growth team and will continue to explore ways to help people connect and engage with relevant, timely news.
If you like to log onto Twitter to see what’s going on, but rarely ever tweet, you might be a lurker. Last year, the Pew Research Center found that only a small amount of highly active users were actually producing most of the content on Twitter. About 25 percent of users produced 97 percent of all tweets. Most Twitter users behave like so-called “lurkers.”
A follow-up survey Pew conducted in May 2023 sought to find out what lurkers were doing on Twitter if they weren’t tweeting.
Age appeared to be the largest differentiator between active tweeters and lurkers. Frequent tweeters, defined as users who post more than five tweets, or retweets, a month, tended to be between the ages of 18 to 24. Lurkers, or the infrequent tweeters who post less than that, make up roughly half of US users, and tend to be between the ages of 30 and 49. These Twitter lurkers also seem to visit the site less often, with only around 20 percent of them saying that they go on Twitter every day. More than 50 percent of active tweeters, on the other hand, say they visit Twitter daily.
Unsurprisingly, on average, lurkers follow fewer users and tend to have a smaller following compared to more active accounts. They have a median of 15 followers and 105 followed accounts. Comparatively, frequent tweeters have a median of 159 followers and 405 followed accounts. When lurkers tweet, a good half of their tweets tend to be replies; replies account for 51 percent of lurkers’ tweets and 30 percent of frequent tweeters’ posts. And they’re less likely to retweet too. Retweets make up approximately 26 percent of all posts from lurkers, and 46 percent of all posts from frequent tweeters.
The findings beg the questions: What do lurkers get out of the Twitter experience then, if they’re not really actively engaging and creating content? According to what Pew found, the top reasons that lurkers use the platform are for entertainment, to stay informed, and to see a different point of view. In fact, 76 percent of lurkers said in the survey that they use the platform primarily to see what others are saying rather than express their own opinion. Lurkers were also more likely than active users to say that they used Twitter to get a different perspective (13 percent compared to 5 percent).
[Related: Can I offer you a nice meme in these trying times?]
In past studies, researchers have found that lurking is correlated with concerns over online privacy and anxiety. Marketers and social network researchers have been trying for the past few years to track what lurkers do on sites. The Oxford Handbook of Cyberpsychology argued that lurkers are legitimate online participants even if they access “the social capital of online communities without providing anything in return.”
While some researchers say that lurking, or passive social media use, can be damaging to mental health by eliciting social comparisons and feelings of missing out, these findings can be complicated. Others, however, like author Joanne McNeil, argue that lurking is simply a natural reaction to the evolution of the internet.
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