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Modern Economic Nonsense — Gaming culture and crypto

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For many years now, the gaming industry has been on a mission to reach as many people as possible. To do so, they have innovated their way of connecting with their audience. One such innovation was the introduction of virtual reality (VR) and its subsequent use in gaming. VR made games immersive and gave them a much-needed edge by allowing players to experience things from different perspectives. This led to new business models like arcades and console gaming which were cheaper and more accessible than before. But that’s not all that gaming has brought us; it has also brought us cryptocurrencies. Virtual reality is one of the many innovations that crypto has brought about, and it comes in all shapes and sizes. Financial services have been operating using fiat currencies for a very long time now — from banks to credit card companies to even the government! In other words, most of the day-to-day services are run using fiat money instead of digital currencies like Bitcoin or Ethereum. Thanks to cryptocurrencies like Bitcoin and its blockchain technology, there’s no more prolonged need for that. With this piece of writing, we are going to discuss how virtual reality is being used in gaming today, where some of the biggest gaming companies stand when it comes to integrating crypto into their business models and why virtual reality will be an important catalyst in helping gamers understand crypto further down the line

Virtual reality in gaming: The current state of play

For the longest time now, VR has been widely used in gaming. However, in recent years, the tech has seen a new wave of innovation that is changing how VR is used. VR gaming is no longer seen as a novelty and more people now believe that it will soon become a mainstream technology. Why you might ask? Well, let’s look at the current state of play and how VR gaming is being used in gaming today. VR gaming is being used to create sports simulations, training simulations and more. With VR, athletes and coaches can now use real stadiums, real players, real teams and more to create the best virtual simulation of their sport. VR is also being used to make games more interactive and lifelike. Games can now use VR to let players feel as though they are actually in the game. VR lets players feel as though they are in the game by letting them smell what the game is like, hear what the game sounds like, feel what the game feels like, and more. This is one of the most important uses of VR in games and is one of the reasons why it is seeing a lot of attention from companies and why it is a technology that will change the way people play games forever.

Why virtual reality matters to gamers

As we saw above, one of the main ways in which virtual reality is changing the way we use VR is by making the technology more lifelike. The other major way in which virtual reality is being used is by making it more accessible. VR headsets aren’t cheap, and many people can’t afford to buy them just for gaming. VR is slowly becoming more accessible as more affordable headsets are released. This is a positive change, as it means that more people can experience VR. With VR being used in so many different ways, it is no wonder that more people are getting interested in technology. Even gamers who might have been skeptical at first now see the technology’s potential. This is a great sign for the industry, and it means that VR will only get better from here.

How virtual reality will help gamers learn about cryptocurrency

VR is great at making games seem more lifelike and have players believe that they are actually in the game. This makes it much easier for gamers to learn about cryptocurrencies. VR makes it feel like players are actually in the cryptocurrency ecosystem and learning about it from first-hand experience is more meaningful than reading about it. VR brings gamification to cryptocurrency and lets players earn tokens for completing tasks in games in the same way that most games allow players earn tokens for completing tasks. VR training simulators also make it easier for gamers to learn about cryptocurrency. VR training simulators are getting more and more advanced and are becoming much more lifelike. They let players experience such things as the mining process and more without having to do anything. With all of these features, VR training simulators are making it much easier for gamers to learn about cryptocurrency.

A look at the future of virtual reality and cryptocurrency integration

As we saw in the introduction, virtual reality is one of the many innovations that crypto has brought to the table. It is no wonder, then, that VR will be one of the technologies that will be used to help gamers understand cryptocurrencies. It is already starting to happen. Many game developers are making games that let players earn cryptocurrency as a reward for playing games. Coinbase is making it easier for gamers to earn cryptocurrency through games like its Blockchain Games platform and games like Ark, Gnomes and Mints. More are partnering with blockchain companies to let players earn cryptocurrency through games. These games are making it easier for people to learn about cryptocurrencies, and they are making cryptocurrency more accessible. This is a great sign, and it shows that VR will be a catalyst in helping gamers understand cryptocurrencies.

Conclusion

It is not surprising that virtual reality is being used in gaming. After all, it is one of the most innovative technologies that the gaming industry has seen in a long time. In addition, VR is changing the way we use VR and is making VR more accessible and more lifelike. This, in turn, makes it easier for gamers to learn about cryptocurrencies and makes complete cryptocurrency more accessible. It is no wonder, then, that virtual reality will soon become one of the most popular technologies in gaming.

Reminder: I am not your financial advisor. 

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Crypto Research

The Future of Machine War II

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In late 2021, I wrote an article about A.I. vs. Blockchain. I realized it was closer than I expected.

https://medium.com/@xuanling11/artificial-intelligence-vs-blockchain-the-future-of-machine-war-b685d208ba20?sk=874af90c7acbe857fa004c0ebe0d5e28

Web2 is leading a future of technological centralism. 

The way we see the world in ancient is what we saw became what we believed. Later, the enlightenment process helped humans realize what they had seen was disguised by the nature principle. Once we tested our assumption and received accurate results, we thought we had mastered the nature principles. Yet, we did not make the world better than we thought we could. 

We are living in a world in which companies know more than you than yourself. Companies can likely tell you what you should believe without letting you know. 

The secret weapon that companies like Google invented is A.I. or Artificial Intelligence. 

If A.I. can think like a person, it can easily replace you! Since companies got all your data, you freely offer them by using their free services, and they can replace you one day without you realizing it. 

Without all conspiracy theories behind what Google may or will secretly develop, A.I. reaching consciousness is … impossible.

If it does, Google has successfully made a human – dumb!

The most advanced A.I. – Tesla Autopilot Program cannot distinguish objects between humans and other moving objects during driving.  

Using technology makes people dumber than they think because it takes away your consciousness – the ability to think uniquely!

Blockchain is the future of decentralization.

We need a peer-to-peer system to regain consciousness and break the chain from Web2. 

It gives individuals the power to rethink information.

Think about today’s media; all information is filtered to offer readers without any surprise. News is data that Web2 selected specifically for you to read. 

We need a decentralized system so that you can receive unfiltered information and gives you a surprise that sparks ideas of imagination.  

Web2 is afraid of the blockchain because they are too big to fail. 

 They mimic the blockchain by creating a centralized node system – social media network. 

It is a net growing outward through a single point. Only the problem is that connection is facilitated by technology. And the biggest failure is such technology has a single point of failure problem. 

And they cannot escape the law of economics – the law of diminishing. So we will see Web2 grow slower due to the law of diminishing that they require more data with few increments of advancement through A.I. without any breakthrough because A.I. is a deterministic system that works with a lack of randomness. 

In Web2, they assumed everyone was stupid, and they offered solutions to everyone.

In Web3, everyone is good and should anticipate solving a problem together.

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Photo by Aideal Hwa on Unsplash

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Crypto Research

Financial sanction to mixers

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Have you heard about financial sanctions from the US on virtual currency? At least, I have not yet. But the US Department of Treasury has issued sanctions on two crypto services: Blender.io and Tornado Cash.

To clarify, the US sanctions on tools but not target specific entities or groups of people.

So why bother to sanction something that the government probably won’t be able to sanction in the first place?

What is a mixer?

A cryptocurrency mixer, sometimes referred to as a tumbler, is a tool for money laundering. The sole purpose of the invention is to make transactions untraceable.

How to mix?

Even crypto is pseudo-anonymous, but it is traceable through your wallet address. A mixer is a black box service to filter your traceable wallet address into the untraceable wallet address.

How to wash your money clean in the traditional way?

https://dimensiongrc.com/the-stages-of-money-laundering/

The assumption is you will not get caught at each stage, and then you place your dirty money in a bank through companies and use the funds to purchase legal goods like houses or luxury goods.

There are mature regulations and rules to stop you from putting your dirty money into banks.

Digtial money landury

https://www.eurospider.com/en/know-how/compliance/211-what-is-a-cryptocurrency-mixer

A Crypto mixer or tumbler is a service to pool dirty digital currency in their favor and redistribute it into designated wallet addresses or addresses randomly generated. 

It is a challenge to stop transactions because there is no entry point for law enforcement to stop at each stage. 

https://home.treasury.gov/news/press-releases/jy0768

Ultimate Mixer

Tornado Cash is the king of the mixer. Unfortunately, there is just no way to trace transactions anymore. It is a smart contract with zk-SNARKs (zero-knowledge proofs) that does not require revealing a wallet address during transactions and ghostly distributed funds without leaving any traces.

This tool is the ultimate weapon that the government has to shut down, or there is no way to prevent transactions.

In Conclusion

Let’s change the future – legally. 

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Crypto Research

Why there is not crypto banking exist

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We have always heard about cryptocurrencies, crypto exchange, banking, and trading platforms, but we do not really grasp the idea of crypto banking. Crypto banking is a contradicted idea. If crypto is to replace banks and give users full control of digital money, why do you put your crypto into the bank? The new research paper argued that there are risks for banks to adopt crypto, but they did it anyway.

Banks want crypto

Cryptocurrency has a rough road at the beginning and continues to experience a bumpy road ahead. The institutional investors were watching its performance. In early 2017, institutional investors had opportunities to adopt crypto, but they found out the return of the investments was less than traditional financial assets. Regulations were not a concern for some individual institutional owners, but banks were conservative at the time. As a result, some investors adopted it in early 2018 than banks did. Then suddenly, the crypto market took off in 2020, leaving many banks to regret their decision in 2017. Many banks set up their digital investment group to rush into the market and increase prices. Of course, many of their investment positions are instead of shadow positions. It is unclear how much they have been invested in and what vehicles they took to invest in cryptos.

Crypto Exchange

Crypto exchange is a bank-like platform for crypto. Banks offered a place to purchase fiat currency. Crypto exchange did the same duty as traditional banks did. Since there was a gap between the crypto and banks, the crypto exchange took responsibility and offered crypto services. The crypto exchange took off after 2020, and they left banks in the dust. Then, crypto winter came in early 2022, and banks again hesitated to enter the crypto and started denouncing crypto usage, particularly in the Defi area. But interestingly, they tried to find ways to get into crypto without being directly exposed to cryptocurrencies—hint: through hedge funds.

How much banks exposure to crypto

We do not know how much banks have been exposed to crypto. We learned that the big Wall Street players were exposed to the services of the digital asset through State Street of their $41.7 trillion assets. Some have been exposed due to Luna’s collapse and 3AC bankruptcy. But again, no specific dollar amount was provided. 

Survivors

Since the crypto winter, institutional investors have been cautious about crypto exposure. However, crypto exchanges are the winner again. They are exposed to crypto and take risks more than banks do. As a result, they likely will weather the uncertainty. Furthermore, there is no need for crypto banking to handle your crypto assets since many such services will not survive long in the crypto environment. 

Crypto is resilience

Despite its fluctuating price and unsecured assets, crypto is resilient to phase out any bad business ideas and bad actors in the economy who wants to or try to dominate the market but who transfers risks to users to believe they are the one who should take responsibility for their carelessness. Unfortunately, those business models will not survive long.

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