6th November 2022 > > Mask Network.

tl;dr

Mask Network is a small but important step towards Web3.

Market Snap

Market Wrap

Yassine Elmandjra, a crypto analyst at ARK Invest, has pointed out that:

“For the first time in history, bitcoin is less volatile than both the S&P 500 and Nasdaq.”

Intriguingly she added:

“The last time volatility was this low, bitcoin rose from $9,000 to $60,000 in less than a year.”

Just sayin’ is all.

Occasional Series – Brave Browser

Brave has so many advantages over all other browsers including privacy protection, zero or targeted ads, and the chance to earn crypto in the form of BAT (Basic Attention Token). Getting paid for browsing sounds like a good deal to me.

As from today, Brave now blocks those annoying “Accept all cookies” alerts, which came into force following some extremely misguided and pointless legislation adopted by the EU, and yet to be jettisoned by the UK.

Get it here:

https://brave.com/download/

Curious Cryptos’ Commentary – Mask Network

Mask Network (https://mask.io/) is a glimpse into the future of Web3.

Mask Network is the first step in the process of allowing us to own our own data. Regarding social networks, your Mask persona can be linked to, say, your Facebook account to allow you to send encrypted messages to a restricted audience, severely limiting Meta’s ability to monetise your data for its own benefit. Which sounds positively pleasing to me.

It also facilitates easy use of Web3 applications focussed on the crypto world – increasingly DeFi (Decentralised Finance) functionality can be accessed directly via the Mask Network.

Mask Network has its own coin, thrillingly called MASK.

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Elon Musk, now the proud owner of Twitter, has touted the idea of bringing cryptos to the Twitter platform. I would be mightily surprised if that did not happen soon, given his very public support of cryptos, and the fact that Tesla owns crypto in its treasury.

DOGE has been rallying hard since his Twitter takeover, as has MASK:

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Binance, the world’s largest centralised crypto exchange, invested half a billion dollars into Twitter, making it the second largest shareholder after Elon himself. It is fair to say that Binance will know of any plans to incorporate cryptos into Twitter and is well-placed to spearhead such an initiative.

Binance CEO, Changpeng Zhao, has said so himself:

“It’s very easy to support a dozen, a couple of hundred cryptocurrencies as payments. We already have a solution that does that: Binance Pay.”

And specifically related to Twitter:

“We have all the technologies, we have the know-how, we have the products, so we’re ready to help.”

Intriguingly, Twitter has now paused its own project aimed at developing an in-house crypto wallet, suggesting that an off-the-shelf solution from Binance is proving to be more attractive.

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That is not all. The plot thickens further.

Just a few days ago, Binance launched a new crypto index which aims to track the price performance of just three cryptos – BNB, DOGE, and … wait for it … MASK. With a market cap of just $139mm at the time of writing, putting MASK outside the top 100 cryptos, the decision to include MASK in this new index seems somewhat perplexing, leading many to speculate that Twitter has already decided to use BNB, DOGE, and MASK as its crypto offering.

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All of this is pure speculation. I am certainly not suggesting for one moment that any reader should get involved with MASK.

What I am suggesting is that adoption of cryptos by Twitter might be coming very soon, and that will be big news. We must keep that thought at the front of our minds.

For disclosure purposes only, I recently added MASK to my crypto portfolio. I have saved some spare bullets, in case of a retraction in its recent outperformance, giving me the potential opportunity to DCA (dollar cost averaging) into a better entry price than I have right now.