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Game review: Adoraboos is free and that’s the best thing about it

Distance learning gaming app claims to teach blockchain for all ages… fails miserably.

Republished by Plato

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Working for Cointelegraph, we are regularly contacted by PR agents giving us advance notice of their clients’ forthcoming announcements. Those which seem interesting tend to be followed up with some additional research into the subject, before a decision is made on whether to publish a story.

It was following one such contact, bearing the legend, Distance Learning Gaming App Teaches Blockchain for All Ages, that I found myself in the unlikely position of downloading an app called Adoraboos onto my phone.

The game comes from an “award-winning game studio”, and was designed to help relieve the education crisis which has developed as a result of the COVID-19 pandemic.

So far, so good… so why did it leave me so cold?

While Adoraboos was unsurprisingly sold to me on its blockchain learning functionality, its main focus seems to be the SAT exams which are taken by students aged 17-19 in the United States. Other topics covered are cybersecurity, networking, and computer operations, along with sustainability and social/emotional development.

You could argue that some of this is willfully ‘right-on’. But it would seem a bit churlish to criticize a learning game for covering currently fashionable topics… especially when there are so many other things to criticize.

The ‘learning’ involved essentially revolves around memorizing definitions for a number of topic-related words and phrases. This is presented in the form of a number of minigames, success at which charges up word-darts. Once charged you can compete in an Adora-Battle, in which your Adoraboo pops the balloons of an opponent Adoraboo, one assumes causing it to plummet to its death.

If none of this really makes much sense to you, then it didn’t really make much sense to me either.

Why would a late teen choose to play a game called Adoraboos, with cutesy characters seemingly aimed at young children?

Fortunately, I had one available in the form of my 17-year old nephew. Unfortunately, he couldn’t come up with an answer either.

The first mini-game is called Dragger. This presents players with a hex-grid of 42 icons in four different varieties, along with a series of words and their definitions. All you have to do is make a chain of similar icons which is as long as the word has letters. You don’t even have to look at the word or its description, as my nephew quickly realized:

“There isn’t really any inclination to read the definition other than to learn, but as teenagers we can’t really be bothered with that.”

He then went on to smash the stereotype of a lazy teenager by offering a number of ideas for improvement. These included the potential for a high score board ranking friends or a school to provide added motivation. If only the game developers had access to a teenage nephew that they could have used for user testing and quality control …

The game gives bonus points for any matching icons over and above the number of letters in the word. This makes it super-easy to beat the target if you are given a short word and can chain a bunch of extra letters. But good luck finding a chain of 14 matching icons to get through “Cryptocurrency”.

In addition, there is no real indication whether you have succeeded or failed in matching enough letters/icons. You get the same sound and the icons disappear in either case, but the word doesn’t change if you failed.

The next mini-game is Decipher, which gives you a minute to unjumble the letters of a series of words when given the description. But if you didn’t read the description in the last game and/or don’t know the words then this can be quite difficult, especially for longer words.

Up next is Definition, which my nephew felt at least had some potential. You are given a word along with its definition cut into chunks. You have to put the chunks in order to make the complete definition. This wouldn’t be too bad, but you are again faced with a time limit. In reality this means that you are just trying to make a definition which flows as a sentence, and don’t really read or learn it.

The final mini-game is called Quiz. This presents you with four ‘answer’ words and gives you four definitions in turn. If you choose the right word it is removed, meaning the ‘Quiz’ becomes exponentially easier as you go through it.

This section at least makes you think about the words and definitions. But the definitions are so clumsy that I would again question whether there is much useful learning going on. Take this example for the word “Bitcoin”:

“The first practical solution to the Byzantine General’s Problem to be implemented as a cryptocurrency.”

I mean, it’s not wrong, but it’s hardly the most useful description one could give if they wanted to teach someone about the topic. Many other definitions are similarly obtuse, obscure, and on occasions just plain wrong, not just in the blockchain topic but across all of the vocabulary lists.

As a final blow, many of the tech terms are acronyms, so the answer is already given in the definition. D’oh!

Finally you get to the Adora-Battle. The darts that you have charged can be used to pop balloons, although the aiming mechanic is clunky. Despite this, you should easily hit most of the time.

When you are out of darts you are given one of the vocabulary words in context and asked if the usage is correct or not. If you are right you get a bunch more darts, but even if you are wrong you still get one.

After your darts are depleted, the opponent Adoraboo throws its dart. Unlike you, the opponent can burst more than one balloon with its dart.

This is the only thing that gives the game any kind of difficulty curve, as all of a sudden you will face Adoraboos who burst five or more of your balloons at a time.

If you survive then you go back to another context question.

Winning the match can net you stickers, outfit changes for your Adoraboo, and even an additional Adoraboo every 10 levels… although why you would want one is anybody’s guess.

Perhaps I (and my nephew) missed the point, and it is meant for much younger children. Certainly the name and presentation suggest this. However the vocabulary certainly doesn’t… unless the child is one of those annoying little brats you see competing in spelling bees.

I can’t really find much in this app to redeem it. Learning definitions can be a good way to understand a topic, as I discovered when I reviewed Decoding Digital’s What is Cryptocurrency. But that had a flow and led the reader on a journey.

This is a random hotch-potch of stuff, from the “Truffle” Dapp test suite, to an “Eclipse” attack, to a “Stake”. Not that there is any real incentive to learn the definitions anyway.

However, I do like to try to give a balanced review and highlight both good and bad points. So, erm… Adoraboos is at least free and you won’t waste any money by trying it.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Source: https://cointelegraph.com/news/game-review-adoraboos-is-free-and-thats-the-best-thing-about-it

Blockchain

What does a positive Coinbase premium mean for Bitcoin’s price?

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Bitcoin’s price action on Coinbase has stood the test of time, especially since the crypto-exchange’s user statistics have often highlighted institutional participation in the market. The current Bitcoin bull run is largely influenced by institutional demand and buying. By extension, price action on Coinbase and other metrics can be deemed to signal traders’ sentiment too.

In that regard, one key metric is the Coinbase premium. With Bitcoin’s price strictly rangebound under $50,000 at press time, the Coinbase premium has turned positive, based on data from CryptoQuant.

Coinbase premium turned positive, Bitcoin bull run is on?

Source: Twitter

Since the Coinbase premium turned positive, a positive change in Bitcoin’s price in the short run can be projected. Here, it is worth mentioning that for a while, the same metric was in the negative.

Further, another metric that was looking extremely bullish at the time of writing was the Spent Output Profit Ratio.

Coinbase premium turned positive, Bitcoin bull run is on?

Source: Twitter

Based on the SOPR chart from Glassnode, the bull run may make a comeback in phases. The highlighted regions in the attached chart signal the points where the bottom and top were reset. This happened in mid-January, the last week of January, and on 26 February 2021. For the same, there are a few signs to look out for and each would further support the Bitcoin narrative.

One of the top signs is consistently positive Coinbase premium. Other signs from miners include increased inflows from miners on top exchanges, with the same fueling selling pressure on Bitcoin. When selling pressure hits a peak, the price drops as it did from the $58,640- level.

The complete reset of the Bitcoin Futures funding rates is yet another sign. The funding rate was reset, based on the SOPR chart from CryptoQuant, with the same underlining that Bitcoin lows and tops had been reset too. It is common for traders to bet high on leverage, long credit, and consequently, short volume. However, the cycle is complete when the volume increases and the price of Bitcoin pushes the leverage even higher.

Finally, there are other metrics like the Grayscale Bitcoin premium that has turned negative and signaled a drop in institutional demand. What does this entail? That’s a tricky question to answer. What’s evident, however, is that the two metrics are offering contrasting views on Bitcoin’s price performance.


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Source: https://ambcrypto.com/what-does-a-positive-coinbase-premium-mean-for-bitcoins-price

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Blockchain

While Washington dithers, Wyoming and other US states mine for crypto gold

Republished by Plato

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The United States is divided politically these days into red states and blue states, and increasingly, it seems to be fracturing into cryptocurrency-friendly and crypto-wary locales, too. On Feb. 21, it was revealed that San Francisco-based Ripple Labs had registered as a Wyoming business. Wyoming is arguably the most blockchain and cryptocurrency-welcoming state in the United States. 

Meanwhile, several days later, New York State’s attorney general announced a settlement of the office’s long-standing investigation into crypto trading platform Bitfinex for illegal activities. As a result, Bitfinex and affiliated Tether must pay $18.5 million for damages to the state of New York and submit to periodic reporting of their reserves.

Wyoming and New York — poles apart on the crypto regulatory spectrum — were both making industry headlines in the same week in other words. The irony wasn’t lost on Timothy Massad, former chairman of the U.S. Commodity Futures Trading Commission and now a senior fellow at Harvard University at Kennedy School, who told Cointelegraph:

“Federal regulation of crypto assets is like swiss cheese — full of holes — and that has meant a smorgasbord at the state level, with Wyoming actively luring crypto businesses and the New York attorney general bringing aggressive enforcement actions as we saw this week with Tether and Bitfinex.”

Whether this “smorgasbord” is a good thing is a matter of some debate. Crypto havens like Wyoming can be centers of innovation, pushing a potentially revolutionary technology further forward, as Wyoming’s recently elected U.S. Senator Cynthia Lummis emphasized this week in a Chamber of Digital Commerce panel discussion with Miami’s Mayor Francis Suarez, another crypto enthusiast.

A complex fabric

But it also leads to regulatory uncertainty that gives entrepreneurs a case of hypertension. As Stephen McKeon, an associate professor of finance at the University of Oregon, told Cointelegraph: “Our regulatory system is a complex fabric of multiple agencies at both the state and federal level.” He further emphasized that “they need to coordinate on the topic of crypto assets because this asset class doesn’t map cleanly to the existing regulatory structure.”

Asked if, from a business standpoint, Ripple and others were making a smart business move registering in crypto-warm states like Wyoming with a higher degree of regulatory certainty and freedom — as well as lower taxes — McKeon added: “Businesses strive to reduce regulatory uncertainty. If moving to Wyoming helps to achieve that objective, then it’s a smart move.”

Others could follow Ripple. Zachary Kelman, managing partner at Kelman Law, told Cointelegraph: “Many crypto projects fled New York after the introduction of the onerous BitLicense back in 2015. I expect more projects to relocate in Wyoming, as well as other crypto-friendly states like New Hampshire.”

Wyoming created a stir in 2019 when its legislature authorized the chartering of special purpose depository institutions, or SPDIs, that can receive both deposits and custody assets, including cryptocurrency. The state’s banking division itself acknowledged that “it is likely that many SPDIs will focus heavily on digital assets, such as virtual currencies, digital securities and utility tokens,” though they could also deal with traditional assets. SPDIs can’t make loans like traditional banks, however.

Kraken Bank was the first business to receive a Wyoming SPDI bank charter in September 2020, followed by Avanti Bank and Trust in October, and there are “three more [SPDIs] in the pipeline” said Lummis at the Chamber of Digital Commerce’s Feb. 25 event. Avanti founder and CEO Caitlin Long had earlier suggested that Wyoming’s SPDIs potentially were “a solution to the #BitLicense problem” faced by crypto companies because “New York law exempts national banks from the BitLicense.”

But even though the Wyoming SPDI’s are state-chartered institutions, not national banks, “federal law protects parity of national banks and state-chartered banks,” continued Long, and following that logic, she concluded that SPDIs represented “a passport into some 42 U.S. states without the need for additional state [crypto] licenses.”

An accident waiting to happen?

Not all are enthralled by Wyoming’s new special-purpose banks, though. The Bank Policy Institute suggested that Wyoming’s SPDIs could be an “accident waiting to happen.” The BPI noted in September that Kraken was “the first digital asset company in U.S. history to receive a bank charter recognized under federal and state law” but warned that its business model “is inherently unstable under stress” because the new bank is funded by uninsured, demandable retail deposits “and relies on a pool of assets such as corporate bonds, munis and longer-term Treasuries to fund redemptions under stress.”

David Kinitsky, CEO of Kraken Bank, in a conversation with Cointelegraph, said that he believes the BPI blog post “comes from a lobbyist group funded by, and working on behalf of, the world’s biggest banks” and rests “on a slew of faulty assumptions,” adding further:

“[It’s] comical and hypocritical that they think their fractional reserve model along with its total reliance on asset exposure and interest rate environment is somehow less risky than a full reserve custodian bank that won’t do any lending and has a diverse set of adjacent revenue streams.”

Others have opined that innovation centers like Wyoming were merely filling the void left by the federal government, which has yet to take a coherent stance vis-a-vis the burgeoning crypto market. Benjamin Sauter, a lawyer at Kobre & Kim LLP, told Cointelegraph: “Wyoming is showing that individual states can play a meaningful role in crafting a coherent legal framework for the crypto/blockchain industry — particularly when it comes to state taxation as well as commercial and some banking issues.”

By comparison, according to him, the U.S. federal government “hasn’t really made an effort to create such a framework, and this has led to a lot of regulatory inefficiencies and general confusion.”

Innovator or loophole?

So, what about the notion that Wyoming merely created a means for its new banks to lure firms and investors based in more regulated states like New York? Kelman told Cointelegraph on the matter: “Many institutions operate entities all over the world, not just the United States. New York has jurisdiction over New Yorkers — but not any company related to a company that has had operations there.”

“Wyoming can and is becoming a center for crypto business and innovation,” Kinitsky told Cointelegraph, adding: “Certainly, there are ready similar examples within financial services like the credit card industry in South Dakota and ILC banks in Utah….SPDI banks have similar frameworks for being able to operate across the country and indeed internationally.”

McKeon agreed that Wyoming was following the South Dakota playbook: “South Dakota created favorable legislation for banks around interest rates and fees in the 1980s and now has one of the highest concentrations of bank assets in the U.S.,” adding further:

“By creating an environment that allows crypto projects to operate with a higher degree of regulatory certainty and freedom, Wyoming is likely to attract similar relocation within crypto.”

Will others join in?

Of course, other states could follow Wyoming’s lead. Kelman said: “I also expect larger states, like Florida, to follow suit with more crypto-friendly guidance, especially after Miami Mayor Francis Suarez’s overtures to the crypto community.” However, he further stressed that “given Wyoming’s small size and relative obscurity, I don’t know if it will remain a haven for an entire industry in the way Delaware has been for incorporations and corporate governance.”

As reported, Mayor Suarez is looking to develop some of “the most progressive crypto laws” and proposing within his jurisdiction innovations like paying city workers’ wages in Bitcoin (BTC) and purchasing BTC for the municipality’s treasury. Senator Lummis applauded the mayor’s initiatives at the Chamber of Digital Commerce’s panel, inviting him to “look at Wyoming’s legislative framework as a template and then build on it” by developing new Bitcoin “components,” including a pension plan for Miami workers that includes Bitcoin — something Suarez is looking into.

Multiple innovative centers like Miami and Wyoming, among others, could advance technological progress generally, she suggested. Suarez, for his part, said: “One of the things that we want to do is imitate Wyoming’s very successful integration of crypto into their community.”

Meanwhile, Avanti’s Long remains an ardent booster for her state: “Why should crypto companies redomicile to Wyoming?” she asked rhetorically on Feb. 21 following the news that Ripple Labs had registered as a Wyoming limited liability company, adding:

“No state corp tax, no franchise tax, crypto exempt from property & sales tax, our commercial laws clarify crypto legal status, crypto-friendly banks opening soon, access to crypto-open gov/legislators/US senator — all laws open-source.”

Is Wyoming good for BTC adoption?

What exactly do these tech-friendly states and cities mean for cryptocurrency adoption? Sauter was cautiously optimistic: “It’s possible that Wyoming’s efforts will have some trickle-up effects, should the federal government ever get its act together.” He stated further that there is also a major risk as businesses may be “lulled into a false sense of security and potentially conflating Wyoming’s regime for compliance at the federal level.”

Kinitsky told Cointelegraph that the convergence between crypto and banking, as is happening in Wyoming, “portends an important step toward mainstream adoption,” while McKeon added that crypto users “are primarily concerned with access to products and features. Better products translate to increased adoption.” Therefore, if Wyoming-type legislation enables crypto projects “to provide new and desirable features by mitigating regulatory risk for the providers, then it will be a positive force for general public adoption.”

Many, though, still seem to be treading water until the federal government acts to provide some legislative/regulatory structure to the nascent blockchain and cryptocurrency industry. According to Sauter, “as great and encouraging Wyoming’s recent actions are, there is only so much one state can do.” Massad also told Cointelegraph:

“This regulatory confusion creates higher costs and uncertainty. There’s still plenty of money and talent in this country flowing into crypto innovation, but we need greater regulatory clarity to ensure investor protection, financial stability and responsible innovation.”

Source: https://cointelegraph.com/news/while-washington-dithers-wyoming-and-other-us-states-mine-for-crypto-gold

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Blockchain

India: Are authorities really seizing crypto hardware wallets?

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While the lack of regulations for cryptocurrencies has evolved into a problem in India, crypto-users in the country have not been discouraged yet, with many seeking ways to get on the same page as lawmakers. However, there is a very problematic lack of clarity among users, especially since such regulations (Or lack thereof) make compliance a very difficult job.

According to a recent post by Crypto Kanoon, a legal information portal for the country’s crypto-users on Twitter, Indian authorities have now turned their attention to crypto hardware wallets by making very deliberate attempts to seize them. The tweet in question read,

“Breaking: News of Crypto Hardware Wallets being ciezed by the Flag of India customs department is coming.”

While avenues to use cryptos have not been fully shut yet, their use has become increasingly difficult thanks to muddy rules. Given the fact that the bull run is in progress, India is seeing greater interest in crypto-investments. In light of the need to be in charge of one’s own cryptos, many new entrants to the crypto-market have been turning to crypto hardware wallets.

However, along with Crypto Kanoon, several prominent Indian crypto-influencers are also claiming that such purchases are being flagged by the Customs department of the country. For instance, Naimish Sanghvi, Founder of CoinCrunchIndia, shared the screenshot of a message shared by a “verified source.” It read,

Here, it must be stressed that the veracity of this claim was still in question at press time, especially since no customers had actually come forward to claim anything of this sort. In fact, no official notification or circular from any government agency asserting a ban on Bitcoin wallet imports had been found either.

It is also worth noting that crypto hardware wallets continue to be available online, on Amazon, as well as on Etherbit. The latter, a popular reseller that has Ledger, Trezos, SafePal wallets in stock, has lately been noting shipping delays on account of a “sudden spike” in global demand for wallets and “rumors of crypto-ban in India.”

Source: Amazon

While everything is up in smoke right now, what is evident is that reactions from the crypto-community have been furious. Despite the fact that such reports are yet to be confirmed, many in the crypto-community believe that this once again highlights the antagonistic attitude of the government towards digital assets. With rumors of a crypto-ban in India swirling about, speculations such as these are unlikely to win the government any crypto-fans.

AMBCrypto has reached out to Crypto Kanoon, Etherbit, officials of the RBI, and some users for clarity on the issue and will update the story accordingly. 


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Source: https://ambcrypto.com/india-are-authorities-really-seizing-crypto-hardware-wallets

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