Joydev

@joydev

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Open-Source DNA – Much of Farcaster’s code is open source, encouraging collaboration and transparency.

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Permissionless Innovation – Anyone can build apps, bots, or integrations on Farcaster without asking for permission—just like open source.

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Is Bitcoin Legal? Bitcoin legality varies by country. Some nations fully embrace it, while others have banned or restricted its use. It’s important to check local regulations.

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Leverage Liquidations High leverage in crypto leads to forced liquidations, accelerating price drops during downturns.

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Bitcoin is the first cryptocurrency: Launched in 2009 by the pseudonymous Satoshi Nakamoto, Bitcoin is the first and most well-known cryptocurrency

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Blockchain is the underlying technology: Most cryptocurrencies operate on blockchain, a decentralized and immutable digital ledger

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Over 25,000 cryptocurrencies exist: As of 2025, there are more than 25,000 cryptocurrencies listed, though many are inactive or have low market cap.

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Ethereum introduced smart contracts: Ethereum, launched in 2015, added programmability to the blockchain via smart contracts, enabling DeFi and NFTs.

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Volatility is high: Crypto markets are known for extreme price fluctuations compared to traditional financial assets.

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Market capitalization fluctuates widely: The total crypto market cap has ranged from under $100 billion in early years to over $3 trillion at its peak

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Bitcoin halving affects prices: Bitcoin undergoes a "halving" every four years, reducing mining rewards and historically contributing to bull markets.

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NFTs are part of the crypto market: Non-Fungible Tokens (NFTs) became mainstream in 2021, with digital art, collectibles, and gaming assets leading adoption

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Crypto mining consumes significant energy: Especially proof-of-work (PoW) networks like Bitcoin, which have drawn criticism over environmental impact.

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Regulation varies by country: Some nations embrace crypto (e.g., El Salvador), while others ban or heavily restrict it (e.g., China).

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Stablecoins aim to reduce volatility: Tokens like USDT and USDC are pegged to fiat currencies and play a major role in trading and DeFi.

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Exchanges are central to trading: Centralized exchanges (e.g., Binance, Coinbase) dominate, but decentralized exchanges (DEXs) like Uniswap are gaining ground.

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Security remains a concern: Hacks and scams are common, with billions lost over the years due to poor security or fraudulent projects.

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Institutional adoption is rising: Companies like Tesla and MicroStrategy have bought Bitcoin; major financial firms offer crypto-related services.

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Crypto can be used for remittances: Lower fees and faster transactions make it attractive for cross-border money transfers.

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