Book SummaryNumber Go Up, by Zeke Faux

1-Page Summary1-Page Book Summary of Number Go Up

Tether's role has been crucial in the growth and proliferation of the digital currency industry.

Tether holds a pivotal role in the realm of digital currency, maintaining a value pegged to the US dollar. Created to facilitate seamless exchanges across different cryptocurrency networks, its trajectory is marked by rapid growth, questionable practices, and intense scrutiny.

Tether was created by a group of crypto entrepreneurs, including Brock Pierce, as a stablecoin pegged to the US dollar to facilitate cryptocurrency transactions.

The establishment of Tether was marked by dubious commercial activities, involving individuals such as Brock Pierce, recognized for his acting in Mighty Ducks, and Giancarlo Devasini, who made a shift from plastic surgery to the digital currency industry.

Prior to his foray into cryptocurrency, Brock Pierce played a pivotal role in creating Tether, drawing on his experience in the digital gaming industry. Craig Sellars, along with Pierce and Reeve Collins, set out to develop a cryptocurrency that would hold its value steadily, drawing inspiration from the fundamental architecture of J.R. Willett's MasterCoin. Although Pierce left the initiative because of concerns over possible legal consequences, his initial efforts were instrumental in establishing the foundation for what would eventually be known as Tether.

Phil Potter, previously an executive at Bitfinex, and Giancarlo Devasini, who shifted his career from plastic surgery to becoming a well-known personality, were instrumental in steering the course of the cryptocurrency Tether. Initially called Realcoin, the digital currency gained a foothold in the cryptocurrency exchange market under the new name Tether, bolstered by backing from Bitfinex, despite the questionable reputations of its founders.

Throughout the surge in cryptocurrency popularity, Tether experienced rapid growth and established itself as a crucial element of the industry by providing a digital currency with stable value, which simplified the execution of trades and the movement of money between various platforms.

Tether emerged as an essential instrument for traders, facilitating the reliable transfer of assets across different cryptocurrency exchanges, especially when these platforms faced challenges in sustaining banking relationships amid concerns over circumventing financial regulations. Behaving akin to casino chips, Tether facilitated investments within the volatile crypto arena.

The circulation of coins experienced a remarkable increase in value, escalating from $50 million in March 2017 to a staggering $55 billion by 2021, fueled by the potential for...

Number Go Up Summary The book explores the obscure backgrounds and misleading tactics of prominent individuals and corporations in the cryptocurrency sector.

The article delves into the complex and occasionally obscure histories of several prominent figures in the cryptocurrency industry. The book scrutinizes how their previous deeds and affiliations are entangled with deceitful practices, swindles, and illicit activities, highlighting issues regarding the honesty and clarity of the rapidly growing sector.

Questionable business dealings, fraudulent schemes, and illicit affiliations were associated with several prominent figures in the cryptocurrency industry, such as Brock Pierce, Giancarlo Devasini, and Sam Bankman-Fried.

Brock Pierce's history with a digital company caught up in a child sexual misconduct scandal, along with his later support for cryptocurrency projects, has raised doubts about his reliability and motives.

The person who transitioned from a career in show business to a notable figure in the world of digital currency, and who played a role in founding an online media company that faced allegations of impropriety with minors, is identified as Brock Pierce. The company's business practices were met with doubt, and even more troubling were the claims of illegal drug consumption and mistreatment of minors...

Number Go Up Summary The rise in the popularity of digital currencies has led to significant societal and economic impacts, including an increase in misleading investment strategies that mirror pyramid schemes and widespread speculative activity.

The emergence of digital currencies has led to a range of consequences for investor groups and community networks, as well as the emergence of troubling trends like rampant speculation and activities that bear a resemblance to Ponzi schemes.

The enticement of rapid financial gains, along with the fear of missing out on the significant surge in digital assets, prompted a flurry of speculative investment, with many people putting their entire life savings into volatile and often misleading digital financial projects.

Many individuals are captivated by the prospect of swift economic rewards and consequently direct their investments into the volatile domain of cryptocurrencies, often experiencing significant financial setbacks.

In the Philippines, Axie Infinity rose to prominence as a leading cryptocurrency project based on the "play-to-earn" model, taking advantage of the population's desperate circumstances that led to financial struggles and the manipulative use of people for work.

Axie Infinity became a sensation in the Philippines, captivating over a million individuals with its unique system that compensates play with financial rewards. Many individuals from the...