29th September 2023 > > Gensler & IOTA.

tl;dr

Some very exciting news. Gary Gensler is made to feel uncomfortable again. An IOTA update with action to take.

Market Snap

Market Wrap

A day of relief for equities encourages more outperformance from cryptos. The first futures ETH ETF gets approved by the SEC, who remain tone-deaf to the glaring inconsistencies in their stance. More on that below.

Occasional Series – Very exciting news! 2024 is on!!

https://www.theknoydartretreat.com/

Curious Cryptos’ Commentary – Gary Gensler and his inability to give a straight answer

https://twitter.com/GOPMajorityWhip/status/1707069814773076398

And another one:

https://twitter.com/RepRitchie/status/1707117291349885103

Curious Cryptos’ Commentary – IOTA update

Holders of IOTA who have been staking have already received their SHMR (Shimmer) tokens. The CC Treasury sold its holdings of SHMR some time ago to switch back into IOTA. If you do want to access your SHMR you can’t do that using the IOTA Firefly wallet – you must download the version engineered specifically for SHMR. Messy I know, one of the many compelling reasons to switch out of SHMR and into IOTA in my opinion.

You would also be expecting to receive ASMB (Assembly) tokens. Indeed your Firefly wallet will show a balance of these. However, the foundation recently announced that Assembly has been canned. To compensate for the loss of ASMB, airdrops of IOTA will take place over the next 24 months. Input your wallet address at this link to see how much you will receive:

https://github.com/iotaledger/new_supply

Or at least that is what you are supposed to be able to do. If anyone is successful in getting it to work, please show me how. In any case, you will be receiving regular airdrops of IOTA going forward.

And a word of warning.

If you owned IOTA before the Chrysalis upgrade in February 2021, you need to migrate your coins using Firefly. If you do not do this within 2 years of the Stardust upgrade expected on 3rd October this year, you will likely lose your coins.

I know many alts will go to zero, but losing your coins would be a really rubbish way of getting to the same result.

As a final point of interest, the Stardust upgrade will be a hard fork.

You will own equal amounts of IOTA on both forks, one known as Stardust, and one known as Stardust Classic. The former will be maintained by the IOTA foundation. It remains to be seen whether the Classic will attract validators and users, but if Classic IOTA has value, and you can sell it, I will let you know.

There is more detailed information to be found here:

https://blog.iota.org/stardust-upgrade-iota-tokenomics/