We hope you're doing awesome! We're back with another edition of Bored Founders news and trust us. This one's gonna be epic.
We've got some exciting stories to share this week, including mining in schools, a new collection drop from Yuga Labs, and our take on wallets in Web3. Plus, a lot more cool stuff to keep you in the loop.
Have you ever wondered what people will do to get their hands on some cryptocurrency? Let us tell you a story about a man who took things to a new level.
Meet Nadeam Nahas, a town employee passionate about crypto mining. However, he didn't have the resources to set up a proper mining operation, so he decided to get creative. One day, he devised an ingenious plan: to set up a crypto mine under a local school and use the school's electricity to power it.
Nadeam snuck into the school basement and set up a sophisticated mining operation. He used the school's electricity and managed to mine a significant amount of Bitcoin. But his luck ran out when the authorities caught wind of his scheme.
Nadeam was accused of stealing electricity worth around $18k. The story would have ended there, but there's more. He didn't attend his court hearing, and the authorities had to issue a warrant for his arrest.
It's not just Nadeam who has tried such stunts. In Malaysia, officials recently destroyed $1.2 million worth of Bitcoin mining rigs. Confiscated equipment was owned by residents who were stealing electricity in order to mine. In August 2020, Bulgarian authorities arrested two men for illegally siphoning off more than $1.5 million in electricity. Of course it was used to power up two crypto-mining farms.
So there you have it, folks. People will go to great lengths to mine cryptocurrency. But let's be clear, stealing electricity is illegal, and the consequences can be severe. Don't be like Nadeam or the others. Mine crypto legally and ethically.
🎨 TWELVEFOLD ON BITCOIN
Yuga Labs released a new NFT collection last week. The creators of BAYC are back with a new project called Twelvefold.
It’s going to be on the Bitcoin blockchain.
It looks like the Ordinals protocol that we wrote about in the newsletter a month ago has been put to use here.
The collection has 300 generative art pieces. Each one is a grid with a combination of 12x12 3D elements.
Yuga is going to dominate the Ordinals market. The art will be ugly, but it’s historic and people will love it. We predict that Yuga will make millions from the new collection drop, and some early buyers will make big profits.
So, I bet you store your money in a bank, huh? Well, for cryptocurrency, you have a thing called a wallet! It's like a digital piggy bank for your tokens.
But here's the thing, your wallet is only as safe as your secret password, called a private key. If someone else gets their hands on your private key, they can take your money and run! So “keep it secret, keep it safe”.
If you want a good wallet, why not trying the very popular Metamask? Check it out at https://metamask.io/ and start keeping your crypto safe and sound!
📉 WEB3 EXPRESS NEWS
Zuckerberg's plan to include teens in the Metaverse was criticized by US senators.
If you’re interested you can watch some videos from ETHDENVER 2023.
Alexey Pertsev is in jail on charges of money laundering, even though he really only wrote the code for Tornado Cash. Interesting video on that topic.
Snoop Dogg has announced the launch of Shiller, a new company that combines web3 technology with live-streaming content.
The president of El Salvador has announced that making Bitcoin legal tender has helped increase tourism by 95%.
The U.S. Department of Justice has proposed new bail conditions for Samuel Bankman-Fried: He can't use video games and cell phones, only flip phones are permitted, and he must look up information on YouTube, Wikipedia, Etherscan, NFL, DoorDash, Netflix and government websites.