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When most artists ponder the road to artistic coherence, they often find themselves confined to one style, one voice, one medium. Bit Errror defies that traditional trajectory, representing a new generation of artists whose breadth is as sweeping as the digital landscapes they explore.




In honor of BeInCrypto’s 5th anniversary, the groundbreaking Bit Errror from the digital cauldrons of Madrid joins forces with 13 other extraordinary artists. United in their creative vision, they are poised to construct a standout NFT collection that encapsulates the ethos of BeInCrypto and reverberates significantly with its global audience.




Pioneering through versatility



Bit Errror is a Madrid-based tour de force in the digital art realm. The artist doesn’t just manipulate photographs or create vectors; he builds entirely new worlds. With a rich variety of influences and an unquenchable curiosity, Bit Errror’s work delves into the complex dynamics of human relationships, nature, loneliness, and the relentless march of time.



The philosophical and the aesthetic



While many artists are concerned with a specific style, Bit Errror’s style is a lack of one. “I like to experiment, try different materials, different software, and different aesthetics,” he says. The unifying thread is not visual but thematic, an evergreen exploration of universal topics approached through diverse digital techniques. He flips the script, proving that style does not have to be the uniting element in a body of work—instead, it can be the intellectual and emotional underpinnings that give a collection its cohesive core.



The one thousand poster odyssey



The sheer volume of Bit Errror’s output is impressive. His One Thousand Poster project, now nearing its 850th piece, is a testament to his unwavering discipline and relentless creativity. Begun in 2019, this artistic marathon has not only honed Bit Errror’s skills but also made him a flagbearer for the new wave of artists who treat the digital canvas with the same reverence as traditional media. “By having to finish a piece every day, you eventually learn to accept it as finished even if you’re not 100% satisfied, because that never happens,” he reflects.



Navigating the crypto art space



In an era where NFTs are fast becoming the norm, Bit Errror is unafraid to embrace the technology. His approach to minting is as methodical as it is strategic. Unlike artists who mint en masse, he opts for a more thoughtful rhythm, slowly releasing works and discarding others that don’t pass his rigorous self-assessment. “I have a portfolio full of discarded projects, around 150 right now,” he notes.



An ever-expanding universe



The coming year promises more milestones for this multi-faceted creator. Bit Errror’s journey into the limelight includes participation in prestigious events like JustMad, a contemporary art fair in Madrid, and NFT NYC’s Community Artists Showcase. The roadmap is full, but one gets the feeling that for Bit Errror, the journey has only just begun.



An artist for the digital age



Bit Errror may shun the traditional path of building a coherent style, but he builds something far more enduring: a portfolio as varied as it is deeply thematic, a commitment to pushing the boundaries of what art can be, and a willingness to delve into the uncharted waters of the digital age. He is, in essence, an alchemist for the modern era, transforming base materials into digital gold.



In his own words



When asked what advice he would give to his 20-year-old self, Bit Errror responds: “Don’t be afraid to create something new, practice and do what you can with what you have, art and creativity are all about self-expression, so there is no right or wrong way to do it. We are all creative; do it without mattering what happens.”



Embark on a Journey into the Digital Alchemy with Bit Errror and Zealy’s NFT Collection!



To celebrate the endlessly fascinating world of digital art, Bit Errror has collaborated with 14 stellar artists to craft an NFT collection that promises to be a paragon of thematic richness and aesthetic diversity. But wait, there’s more! Venture into Zealy’s interactive questboard, complete intriguing challenges, and earn the chance to unlock a complimentary mint from this exclusive series. Witness the amalgamation of deeply-rooted philosophical themes and cutting-edge digital craftsmanship. Are you prepared to explore? Begin your odyssey at Zealy. The future of multi-faceted art awaits!




The post Bit Errror: The Multi-Faceted Digital Alchemist from Madrid appeared first on BeInCrypto.


Bit Errror is capturing attention in the digital art sphere, crafting works that delve into the complexities of human emotion and the universal themes that bind us all.
The post Bit Errror: The Multi-Faceted Digital Alchemist from Madrid appeared first on BeInCrypto.


beincrypto.com

Bit Errror: The Multi-Faceted Digital Alchemist from Madrid

At the outset of the year, cryptocurrency assets linked to the realm of ZK-rollups commanded significant attention. In February, the market capitalization of the ZK-rollup coin ecosystem reached a substantial $13.7 billion. However, the subsequent months witnessed a stark transformation, with the ZK-rollup coin sector experiencing a substantial decline of over 46%, ultimately settling at a market capitalization of $7.38 billion.
The ZK-Rollup Coin Downturn: $6.32B Erased in 2023
This past Tuesday, Bitcoin.com News unveiled an enlightening Learning and Insights editorial, shedding light on the nitty-gritty of ZK-rollups and their functionality. In essence, ZK-rollups represent a formidable privacy-preserving layer two (L2) innovation that furnishes a remedy for blockchain scalability, affording the capacity for swifter and more abundant transaction execution on blockchains.

ZK-rollup coins are inextricably linked to projects spearheading the ZK-rollup movement and they enjoyed the limelight at the start of 2023. According to archived statistics from February 13, 2023, the ZK-rollup coin economy had a former valuation of $13.7 billion. Over the course of 219 days, nearly half, or 46.13%, of this value has been erased.
As of September 20, 2023, the ZK-rollup token economy was valued at $7.38 billion, with Polygon’s MATIC taking the forefront. While the valuation of ZK-rollup tokens makes up a mere 0.66% of the $1.11 trillion cryptocurrency economy, MATIC represents 68.56% of the ZK-rollup coin sector.
Besides MATIC, the ZK-rollup coin sector’s top tokens include immutable x (IMX), mina protocol (MINA), loopring (LRC), aleph zero (AZERO), zcash (ZEC), horizen (ZEN), hermez network (HEZ), marlin (POND), and galxe (GAL). The ZK-rollup coin IMX has a market valuation of approximately $644 million, representing 8.7% of the ZK-rollup coin sector.

Within the ZK-rollup coin market, there were trades totaling $483 million in a 24-hour period, with $158 million stemming from MATIC trades and approximately $262 million originating from IMX swaps. The trajectory of the ZK-rollup coin economy mirrors that of artificial intelligence (AI) coins, rebase tokens, decentralized finance (defi) coins, metaverse assets, and other distinct sectors.
While the initial excitement surrounding these sectors has faded, ZK-rollups aren’t fading into obscurity any time soon. Like many sectors, these coins are actively on the quest to discover their place within the complex realm of cryptocurrencies, a landscape that is ever-responsive to the market’s prevailing tastes.
What do you think about the current state of ZK-rollup coins? Share your thoughts and opinions about this subject in the comments section below.


At the outset of the year, cryptocurrency assets linked to the realm of ZK-rollups commanded significant attention. In February, the market capitalization of the ZK-rollup coin ecosystem reached a substantial $13.7 billion. However, the subsequent months witnessed a stark transformation, with the...

news.bitcoin.com

ZK-Rollup Coin Sector’s Value Plummets by 46% in 7 Months


A US court ordered a former Republican congressman from Indiana to spend 22 months in prison for trading on inside information. In March, US District Judge Richard Berman in New York found Stephen Buyer guilty and sentenced him.



The politician, who served in Congress from 1993 to 2011, traded using information he had on mergers while working as a consultant after leaving office.



Insider Trading Conviction



On September 19, the court handed down the sentence. According to reports, they ordered the buyer to report to prison on November 28. 



He was found guilty of making nearly $350,000 in insider trading. He had prior knowledge ahead of T-Mobile US Inc.’s 2018 announcement of plans to acquire Sprint Corp in a $26.5 billion merger. Prosecutors said Buyer bought tens of thousands of shares after a T-Mobile executive told him about the merger on a Miami golf weekend.



Buyer also traded on Guidehouse Inc.’s 2019 acquisition of Navigant Consulting Inc.



After the March verdict, attorney Damian Williams said that Buyer: 




“Leveraged his position as a corporate advisor to twice use his clients’ material nonpublic information to commit insider trading.”




However, Buyer declared his intention to appeal and told the judge that his life was characterized by “good acts.”



The politician served on the House Subcommittee on Communications and Technology, which oversees the US telecoms industry. After leaving Congress in 2011, he formed a consulting firm advising companies in the sector.



        
          
            Forget insider trading and learn copy trading with our guides: 6 Best Copy Trading Platforms in 2023

          
        
      
    



The heavy sentencing has put the spotlight back on other potential insider trading misdemeanors. Even Elon Musk has been sued over his Dogecoin shilling. 



High-profile figures, such as US Speaker of the House of Representatives Nancy Pelosi, may implicate themselves. In June, Nancy Pelosi’s husband exercised roughly $2.6 million worth of Apple and Microsoft stock options.



Paul Pelosi has faced backlash over his stock trades that seem to coincide with legislation in the technology sector. Additionally, Nancy has repeatedly stated that her husband’s trades have nothing to do with her political knowledge. 



In July 2022, Paul Pelosi sold millions worth of stock Nvidia. This was a day before the Senate passed a multibillion-dollar bill aimed in part at boosting US chip manufacturing. 



Paul Pelosi Sells Nvidia Shares. Source: Forbes



Delving Deeper into Policician’s Investments



On September 15, internet culture outlet the Daily Dot questioned Nancy Pelosi’s stock trading habits. The pair have accrued millions of dollars in real estate and other investments, casting light on their stock holdings.




“The American public has long suspected that members of Congress use their power and knowledge to give them an edge in the stock market.”




There are even Nancy Pelosi stock-tracking X (Twitter) accounts that have the goal of “getting them banned from trading.” 



Furthermore, reports from September 14 estimate that her entire portfolio has increased by around 30% this year. They also added that “Other politicians have seen even larger increases.”
The post Former US Congressman Charged With Insider Trading—Is Nancy Pelosi Next? appeared first on BeInCrypto.


Former Indiana Congressman Stephen Buyer has been sentenced to 22 months in prison for insider trading. The conviction has refocused attention on potential insider trading by other high-profile figures.
The post Former US Congressman Charged With Insider Trading—Is Nancy Pelosi Next? appeared fir...

Former US Congressman Charged With Insider Trading—Is Nancy Pelosi Next?

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The invention of Bitcoin was a technological breakthrough that disrupted the status quo. When Bitcoin was first created, central banks thought they could safely ignore it.
As Bitcoin adoption gained momentum, central banks were forced to pay attention and try to understand what Bitcoin means for the roles of central banks and the technology they use.
In recent years, central banks have converged on the point of view that there are aspects of Bitcoin that they can and should incorporate into their processes and underlying software.
CBDC (central bank digital currency) is a catch-all term for a central bank-issued currency that incorporates elements of cryptocurrencies into its operating model.
Since money is already digital, why are governments considering CDBCs
Central bankers and government officials claim CBDCs promote financial inclusion by offering the unbanked easy access to safe money.
They also state that CBDCs will increase payment efficiencies, lower transaction costs and make it easier for governments to enact monetary and fiscal policy.
In addition to these claims, CBDCs offer governments two benefits that should not be ignored – CBDCs increase the state’s financial power over citizens, and they serve as a surface-level competitor for private sector innovations like Bitcoin.
Implementing a CBDC risks destabilizing large sectors of the economy, which explains why people are uneasy about the idea in countries like the United States.
Further, they represent a mild technological upgrade to fiat money – not a breakthrough in monetary technology like Bitcoin.
CBDCs are still the same inflationary fiat currencies as before, albeit fully digital and less private.
In contrast, consumers are drawn to Bitcoin because of its unique monetary qualities and its censorship resistance.
Fortunately, CBDCs are not a threat to Bitcoin. In fact, CBDCs may even hasten Bitcoin’s adoption.
What are CBDCs
In the United States, the Federal Reserve creates dollars. These dollars consist of a mix of physical cash and reserve balances held by banks at the Fed.
Consumers use a combination of physical cash and digital dollars represented as deposits in their bank accounts.
However, digital dollars held in consumer bank accounts differ from those held by banks at the Federal Reserve.
Digital dollars in consumer bank accounts actually represent claims to dollars banks hold with the Fed.
Consumers cannot directly use these dollars because only financial institutions can access them.
We do not notice the difference between digital dollars – claims to reserve balances – and actual dollars because the US banking system is currently solvent and secure enough that the distinction has no day-to-day consequences – for now.

Pre-CBDC banking model in the US
CBDCs differ from digital dollars because they are actual dollars produced by the Fed, not claims to dollars held by banks at the Federal Reserve.
There are two avenues for central banks when implementing CBDCs – wholesale and retail.
Under a wholesale model, CBDCs emulate bank reserves. The CBDC would be the monetary good that is deposited in the accounts that banks and other financial institutions hold at the Federal Reserve.
Banks would then provide a representation of those dollars, likely rehypothecated, in consumer bank accounts.

Wholesale CDBC model
As Nik Bhatia describes in ‘Layered Money,’
“Central banks could issue a digital currency in the form of wholesale reserves, which would only be accessible to banks… The digital reserves option has the potential to modernize financial infrastructure for the banking system, but it won’t impact how society interacts with money.”
In contrast, retail CBDCs would serve as digital cash for consumers. Think of a FedWallet app that lets you spend CBDCs just like any other cryptocurrency.
While the wholesale model would not significantly change the status quo, the retail route would upend the mechanics of the current banking system.

Retail CBDC model
Differences between the retail and wholesale models matter. As illustrated above, with a retail CBDC, Americans would have a direct bank account with the Fed without commercial intermediaries.
Given the unpredictable impact a retail CBDC would have on the American banking system, the Federal Reserve is focused on developing a wholesale CBDC instead.
Contrasting with that approach, however, the Biden-Harris administration reported on the feasibility of a CBDC system in the US and suggested there may be a growing political appetite for retail CBDCs.
The report states that “all should be able to use the CBDC system” and “the CBDC system should expand equitable access to the financial system.”
Since the wholesale model does not expand access to the financial system, the Biden-Harris report signals that politicians intend to explore the retail option.
CBDCs face problems
Business lending
CBDCs face competing goals. An important function of commercial banks is directing funds toward investment projects through loans.
If CBDCs successfully divert funds from the private financial system, entrepreneurs risk losing access to capital as CBDCs crowd out traditional banks.
Therefore, CBDCs would either compel governments to assume the lending role of commercial banks or reduce businesses’ access to capital.
Further, governments are ill-equipped to make investment decisions. When they do, the economy is impeded at best and severely damaged at worst.
Academics provide a solution to this problem of directing investment in an economy run on a retail CBDC, namely, to offer low CBDC interest rates to disincentivize large-scale CBDC accumulation.
However, this raises a question – if citizens must be disincentivized from using CBDCs for one of the key use cases for money, why introduce them? The answer is unclear.
This inherent contradiction might explain why over two-thirds of public comment letters in response to the Federal Reserve’s proposal for a CBDC view the idea negatively.
Privacy
By removing commercial banks as financial mediators, CBDCs offer governments exclusive control over each citizen’s bank account.
Government officials no longer have to work with commercial banks – they can limit, censor or stop financial transactions for any reason.
This is why CBDCs raise red flags for privacy-minded individuals.
Today, in China, DCEP (Digital Currency/Electronic Payments) allows the People’s Bank of China to surveil citizens’ everyday transactions.
Combining the DCEP with China’s social credit system gives the government the power to interact directly with consumer bank accounts based on political preference.
Even in Canada, which is not overtly authoritarian, Prime Minister Justin Trudeau froze the bank accounts of people who participated in – or even financially supported – protests against mandated COVID-19 vaccinations.
The programmability of CBDCs is also concerning. They allow central bankers to program monetary policy directly into the money people use every day.
For example, facing an economic crisis, central banks could decide to change the code for dollars so that they expire if they aren’t spent within an allotted time frame, forcing people to spend them on consumption to ‘stimulate’ the economy.
Government officials seem to be unaware of these risks or at least unwilling to discuss them. Instead, CBDC proponents praise their potential for programmability and surveillance.
Even putting aside privacy drawbacks, the consumer case for CBDCs is unclear. They do not alleviate financial problems, such as inflation, nor do they promote financial inclusion.
They also do not represent a technological breakthrough because the mix of technologies that they rely upon is already utilized by the Bitcoin network.
As William Luther and Andrew Bailey note,
“The standard case for a CBDC rests on the mistaken idea that we need new digital money for our new digital world. Much of our money is already digital though – commercial bank deposits and transfers are recorded on computers, not paper ledgers.”
Bitcoin –still better, not going away
In ‘American Banker,’ Rob Blackwell describes the threat this way,
“If bankers are not careful, they may find themselves on the losing end as they watch the Fed create an alternative to federally insured deposits.”
One can assume the commercial banking lobby will oppose CBDCs in full force, introducing another hurdle.
Further, while commercial banks are generally unpopular with consumers, it is questionable whether consumers would prefer interacting with central banks – distant monolithic institutions that are all but guaranteed to have even worse customer service.
While central bankers write papers and pontificate about digital currency consumers do not want, Bitcoin adoption will continue for one reason – it is simply the best form of money ever invented.
CBDCs do not threaten Bitcoin. In fact, insofar as they introduce additional risk, uncertainty and privacy concerns to the current financial system, the advent of CBDCs may even fuel further adoption of Bitcoin.

David Waugh is a business development and communications specialist at Coinbits. He previously served as the managing editor at the American Institute for Economic Research.
 
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Do CBDCs (Central Bank Digital Currencies) Threaten Bitcoin appeared first on The Daily Hodl.


The invention of Bitcoin was a technological breakthrough that disrupted the status quo. When Bitcoin was first created, central banks thought they could safely ignore it. As Bitcoin adoption gained momentum, central banks were forced to pay attention and try to understand what Bitcoin means for ...

dailyhodl.com

Do CBDCs (Central Bank Digital Currencies) Threaten Bitcoin

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The world is watching closely what innovative AI-meets-crypto solutions will bring about.
A recent public attention-grabber has been shiny metallic orbs that scan the eyes in exchange for digital ID and cryptocurrency.
Throughout the world, people are wondering if we are on the verge of a better future or heading toward disaster.
Technology behind these devices brings the idea of managing identities in an increasingly scam-ridden digital environment filled with bots, scammers and even fake artificial intelligence.
The device scans the iris of the owner to prove that they are a human.
Cryptographic zero-knowledge proof serves as the identifier here – not biometric data.
It is possible that these digital IDs could allow users to log into any website in the future without having to worry about their personal information being exposed.
In spite of this, privacy experts have questioned the project’s data collection practices and the ability of its ZKPs to deliver the secure, private login service that users expect.
For example, Edward Snowden, a former contractor at the US NSA (National Security Agency) who leaked documents detailing mass surveillance of electronic communications back in 2013, urged against the use of biometrics in 2021.

"We use ZK-proofs!" 
Great, clever. Still bad. 
The human body is not a ticket-punch.
— Edward Snowden (@Snowden) October 23, 2021

According to Snowden, although it produces a global (hash) database of people’s iris scans and waves off the implications by saying, “We deleted the scans,” it still stores the hashes generated by the scans that match future scans.
In addition, experts argue that despite the project’s commitment to decentralization, there is a risk of centralization at an early stage because the device’s design integrity cannot be verified, allowing for backdoors.
There are even some who advocate stopping AI altogether. For instance, Mo Gawdat quit Google X – the company’s division for ambitious projects – after realizing how dangerous AI is.
Gawdat said, “It is beyond an emergency,” adding that the likelihood of something devastating happening within a couple of years is much higher with AI than climate change.
Experts in the field demanded a six-month pause on the development of AI more powerful than OpenAI’s GPT-4 in a March open letter signed by Elon Musk, Apple co-founder Steve Wozniak and Stability AI CEO Emad Mostaque.
According to the letter, tech firms are involved in an ‘out-of-control race’ for AI technologies that could bring civilization to its knees.
Whatever the case, the industry is booming and shows no signs of slowing down.
Looking at the blockchain-AI market alone, it was valued at $230.1 million in 2021, and by 2030, it is projected to reach almost a billion dollars, growing at a compound annual growth rate of 24.1%.
According to CoinMarketCap, the valuation of tokens for AI-crypto projects currently stands at $4,355,785,195 – a figure that continues to grow rapidly.
A variety of exciting projects are already underway at the intersection of AI and blockchain technologies.
These include decentralized access to machine learning training models and generative AI music.
As AI and private markets come together, more equitable access to financial resources and opportunities could be created, especially for investing in private capital markets.
As private equity has historically performed better than public equity, AI has the potential to open up private markets to more investors.
Despite all the controversy surrounding them, crypto and AI seem to only deepen their intersection and synergies as AI and crypto technologies continue to develop – along with the challenges and solutions related to them.
We will have to wait and see how deep the integration of AI and crypto will progress, the extent of the impact and whether governments will step in to halt it.

Maria Carola is the CEO of StealthEX.io, an instant, non-custodial cryptocurrency exchange with over 1,300 assets listed. After graduating the University of Vilnius, Maria spent almost a decade in the crypto space, working in marketing and management for a variety of blockchain projects including wallets, exchanges and aggregators.
 
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The post The AI and Crypto Union – A New Dawn for Innovation or Pandora’s Box appeared first on The Daily Hodl.


The world is watching closely what innovative AI-meets-crypto solutions will bring about. A recent public attention-grabber has been shiny metallic orbs that scan the eyes in exchange for digital ID and cryptocurrency. Throughout the world, people are wondering if we are on the verge of a better ...

Basic Attention price	$0.174138
Low - High 24H	$0.174259 - $0.176849
Market cap	$259.66M
Volume 24H	$12.32M
All time high	$1.90 -90.83% November 28th 2021
All time low	$0.072394 140.77% July 16th 2017
Genesis date	N/A

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