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On Monday night, I was up late, as always, scavenging quality news, charts, new projects, anything related to my passion, Digital Assets.

I landed on something that’s an important lesson for all of you. A $140m hack of Vulcan Forge ($PYR), a popular play-to-earn platform. I love how the team handled it, the platform itself, and the play-to-earn games they have available for everyone. So I had to put $PYR on our weekly watchlist.

Read on to learn how you can keep your assets safe!

  • Blockchain is a public decentralized immutable ledger, so all transactions are transparent and unchangeable from party to party (unless it’s a privacy coin) making it a much more effective monetary system
  • This was not a hack of the blockchain! That’s almost impossible, it was a hack of the platform itself, giving the hacker the private keys to major investors’ wallets.
  • The Vulcan Forge team handled this quickly and effectively, that’s the beauty of a programmable currency. That’s just one of the reasons why it’s on our weekly watchlist.
  • What you need to know to protect your assets so this doesn’t happen to you!

 

Inside the Blockchain

This may sound like Neo entering the matrix, but it’s quite simple. Here is a link to the wallet itself that hacked the $140 million. The ability to look into blockchains and infer quality, secure information from what you’re seeing is a major trading and life skill for the new digital economy.

Imagine if you knew what all the big Wall Street whales were doing behind the scenes. Within the multi-trillion-dollar digital asset market, that’s what we aim to teach you with our E.O.A method. 

 

 

The $PYR Blockchain Was Not Hacked!

It’s close to impossible to hack a blockchain. Its decentralized nature and constant cross-validation between nodes make blockchain the most secure method for storing and analyzing any data points.

 That’s all a “ledger” is, data, and data is the new oil.

 

Why $PYR is on our weekly watchlist if it’s been hacked?

 

The play-to-earn (P2E) gaming space is just heating up and it’s not going away. The gaming industry is worth over $200 billion dollars, and they WILL utilize nfts. Projects like Vulcan Forger have just beat them to it. We may see some huge first-mover advantages from these P2E projects.

 

Vulcan Forge ($PYR) is partnered with titans in the digital asset ecosystem like Polygon ($MATIC), and Sandbox ($SAND). $PYR has a market cap of $385m with a lot of room to grow. 

 

🔓Keeping You Digital Assets Safe!🔓

If you take away anything from this article take away this, “Not your keys, not your coin”. I can’t stress this enough to all of you. I want you to make it 100 times over! That won’t be possible if you lose everything.

I bet the majority of you reading this article have your assets still just sitting on an exchange.

 Stop it, buy a cold storage wallet, I recommend the ledger nano. If your assets are on an exchange then you do not have ownership of them. Which is a major point of a peer-to-peer currency like $BTC.

When you do get a cold storage wallet, do not store your “keys” and private seeds anywhere online. You’ll get 3 little pieces of paper with a 24-word seed phrase, the seed phrase is your password to access your digital assets securely anywhere in the world with an internet connection.

If you lose your cold storage wallet, fine, as long as you have those 24-word seed phrases it doesn’t matter. Someone could steal your cold storage device from your home and it wouldn’t mean anything as long as they don’t have those 24 words. Those are your “keys”.

Say it with me, “not your keys, not your coin”.

 

Final thoughts

Crypto never sleeps, and neither do I. 

This is a 24/7, 365 days a year market, there is no “market close”. We want to keep you secured, and ready for whatever the world might throw at you. A large part of that is diving into the digital asset space with us.

If you need a teacher, a guide, or a helping hand, I’m here. This market is not going anywhere.

I firmly believe this will absorb traditional finance entirely, simply through Darwinism.

 

A purely peer-to-peer version of electronic cash would allow online

payments to be sent directly from one party to another without going through a

financial institution.   

Digital signatures provide part of the solution, but the main

benefits are lost if a trusted third party is still required to prevent double-spending.

We propose a solution to the double-spending problem using a peer-to-peer network.Satoshi Nakamoto

 
Author:
Jake McCarthy

9 Comments

  1. My friend, I missed my chance in 2015 when someone offered me to buy some Bitcoin. Since then I haven’t started on crypto because of high volatility. Too many around. One cannot even find the best scanner bot. You said to keep assets in “Ledger Nano”, so why is it that I’m hearing the word “STAKING” as the best place to keep your cryptos? Give me some light on the subject please. And finally, tell me the best way to start investing 2K in Crypto.

    1. Hey John,

      Thanks for the reply! For this, please give us a call at 410-775-8565. Our Product Specialists look forward to speaking with you!

      Good Trading,

      The RagingBull Team

    2. Hey Jay,

      Staking is most certainly not the most secure way to store an asset. Staking typically offers varying APY at various levels of risk. The staked assets additionally have varying security risks.

      Cold Storage takes your assets into your personal control and mitigates a great number of those security risks. Remember, Not your keys, not your cheese.

      1. Hi Jake,
        For a beginner like me, would you recommend Uniswap as a platform and SecuX-W20 wallet? Give me your pros and cons on this.

    3. Hey Jay,

      “Staking” is a form of consensus, (a way to make sure everything is 100% correct and agreed upon).

      So it’s how the transaction on the network are validated and how new assets are issued (in some cases). Just how bitcoin is “mined” you can think of it as an alternative way to mine, if that makes more sense for you. Mining is known as Proof of Work (pow) while staking consensus mechanisms are known as Proof of Stake (pos), to be more technical.

      You can earn passive assets through staking. Some assets can even be staked on your ledger directly, like Algorand.

      Ledgers and “cold storage wallets” are just the safest way to store your assets, so that’s why we recommend that. Hope that helps.

  2. Great article Jake.

    It’s important to keep your funds Safu in a cold hardware wallet, something that not many people realize. Keep up the great content informing the public on the importance of such wallets!

  3. Hello Jeff this is Joe Rometo. hope you had an awesome holiday Thanksgiving and I know you’re going to have a merry Christmas about herself I want to sign up for 8 weeks for $8 a week. Can you send me the form the paperwork I’ll fill it out and I’ll put my credit card number on it or if you want me to call we could do it over the phone let me know this week my phone number is 724 558 7901 again God bless you and yours Merry Christmas play to The Washington Post Hollywood smile

    1. Hey Joe,

      Thanks for the reply! For this, please give us a call at 410-775-8565. We look forward to speaking with you!

      Good Trading,

      The RagingBull Team

  4. Hello Jeff I ain’t bought new crypto yet you got a couple that are going to make some money I could use a good tip thank you very much take care God bless you and yours

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