All Free: February 2022

Daily Discussion - March 1, 2022 (GMT+0)

Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.

Submitted March 01, 2022 at 07:00AM

39th largest BTC wallet sold everything at the bottom and DCA'd back in to $718m profit

I was looking into the largest BTC addresses to see what the long-term strategies of different whales might be navigating these different market cycles.As a result I stumbled upon the 39th largest BTC wallet who sold all their 32.9k BTC on 3/17/20 @$5,180.57 for a loss of $87k. They've since DCA'd back into the market and is now $718m in profit. Sure it helps that their DCA total is $533m, but they still have the huevos to take the L and come back in. I expect they're going to be HODLer going forward as they haven't sold in the recent pullback on price.No time like the present to set up your DCAs.Benjamin Cowen has a recent video on this topic as well. Yes, he is my muse. No, I will not apologize for my financial proclivities.Edit - fixed some pronouns

Submitted March 01, 2022 at 02:59AM

Is the Era of Dogecoin over?

I've been watching Dogecoin for quite a while now, it's what brought me into crypto (a little over an year ago!).Anyways, ever since the grand slam dump of a fall from what was an astonishing number for a coin like doge, It has been in a constant downtrend ever since. Now currently at $0.122 from it's ath of $0.68, thats a fall of nearly 70%!Consistent downtrend (1D chart)There have been minor jumps and pumps along the way, but after every single jump, there's a even bigger dump. The gap between pumps have been becoming higher and higher, and the duration of the pump has shown to be shortening over time.Is it safe to say the era of not memecoins, but dogecoin in reference is over? I honestly don't think Elon or anyone for that matter would be able to bring back the hype of dogecoin as it was back in May. I personally know many people who bought at the top and still hold for the "$1 dogecoin!" line.I although did hold through .07 and saw my investment hit the multi-thousands. I didn't sell because of that line, my knowledge in cryptocurrency tokenomics has a huge role in my decision making. I'm still baffled that Dogecoin managed to pull off being in Top 3 cryptocurrencies, when you look at it now. That's crazy!Anyways, just wanted to discuss my thoughts. What do you think? I don't think doge will ever go back up aside from the little pumps it may have, definitely not close to where it was at it's highest.

Submitted February 28, 2022 at 10:37PM

Crypto exchanges should not suspend accounts of ordinary russian citizens as whole nation can't be blamed for decisions of the government.

So far some less known crypto exchanges announced the suspention of accounts of whole Russian citizens and it seems that as war rages on this practice is getting popular and is being demanded continuously worldwide. First of all, the average Russian Ivan is not responsible for wreckless and savage actions of his government especially given there is still dictatorship in Russia and obviously no one asks him there whether he wants Putin or not. What's more blocking funds of the entire nation because of political motives will make crypto CEXs almost equal to government banks.If you just don't want to serve Russian, Belarussian, North Korean or any country you just have to announce it beforehand to give people time to withdraw their crypto to cold wallets like some CEXs stopped service for Chinese users with several warnings months before.Obviously crypto communities and their members should not be looted by CEXs because of the country they reside.

Submitted February 28, 2022 at 11:11PM

Daily Discussion - February 28, 2022 (GMT+0)

The fact that you can now transfer thousands of dollars from one country or another for near zero fees should be enough to show you the inefficiency of institutions like Western Union.

A thousand dollars cross country would cost at least $50 through things like Western Union which we all too as a standard back in the day but now seems outrageous with projects like e-Money or Tron pressing near zero fees for such large sums of money transfers.The only reason Western Union isn’t tumbling right now is because crypto is still new to most of the populous and the fact that some countries don’t have internet access to begin with.But for the most part, once crypto start gaining more and more mainstream traction, companies and financial institutions the likes of Western Union and MoneyGram will start to falter and wi only be used by severely underdeveloped countries with no internet access.

Submitted February 28, 2022 at 04:39AM

I made a document you can give to your family which explains what to do after you die

So as some can figure out, I've been preparing a few things for when I die. (No I'm not expecting. But it is better to get this out of the way now)Anyways, I made a template for anyone to mess with. https://ift.tt/5KZeGcB YOUR OWN COPY SO YOU CAN EDIT IThttps://preview.redd.it/1v4pspjdzfk81.png?width=920&format=png&auto=webp&s=e01d5b5ce50cea60eefdac76524614ab2984664bObviously you would want to heavily edit this, but this should help you get started.Big things to note is taxes, and how people will find out where your crypto is stored. I'm using Koinly anyways to track everything for taxes. So I might as well make that in a way family can find whatever crypto and where it is.Note I wouldn't put seed phrases or other things in this. To be blunt, I don't trust Google.NOTE I heavily use last pass to just give people my passwords in this time. This allows them to take whatever from my exchanges, and it allows them to bypass horrible support they most likely would get from Binance.US. Plus since I even have a hard time remember which exchange has a KYC and what doesn't. This bypasses if the exchange even could do this.

Submitted February 28, 2022 at 04:22AM

Join us for the weekly recording of We r/CryptoCurrency Podcast: Episode 6 - Live Q&A After! Starting @11pm UTC

Hi r/cryptocurrency, looking forward to recording this week's live recording of the "we r/cryptocurrency" podcast, its been a wild week and we have a lot to talk about.Stay after the show and we'll answer the Q&A in the comments and from Discord.Start time at 11pm UTC | 6pm EST | 3pm PST. Link will be posted up to join 15 minutes before start time.

Submitted February 28, 2022 at 04:45AM

Ruble is set to fall by 50% crypto markets have not yet realized this

According to unofficial over the weekend exchange rates Russian ruble is down by about 50%.Analysis by Paul Sonne from Washington Post."Russian bank Tinkoff now offering to exchange rubles for dollars at a rate of 171 rubles per dollar. It was 83 before the European/US announcement about targeting the Russian central bank. Currency market formally opens tomorrow. This is brutal. "https://ift.tt/hBTE0Rs to coinmarketcap crypto has not yet realized this, and Bitcoin trades at the same price to RUB as usual. Even as Tether shows the drop.https://ift.tt/Ezap7gh course CMC can just be broken and not show the actual ruble/BTC rate. But be careful out there, and selling any crypto for ruble might be a really bad idea.Of course if you have Rubles and any exchange still takes them, it might be a really good idea to switch to crypto, before the market wakes up :)

Submitted February 28, 2022 at 02:32AM

Polkadot founder Gavin Wood: If Ukraine releases the Polkadot address, I will donate $5 million

https://ift.tt/OoDgy2f

Submitted February 28, 2022 at 12:53AM

My kid sucks at art. What’s the cheapest and easiest way to mint his art as NFTs?

My kid is a year and a half old. He sucks at art. Well, I mean his art looks like a toddler made it. Which he kind of is, so it actually may be good for his age. Fuck if I know.The point is; I figure I’m sitting on a goldmine.All the recent “art” looks like something I drew in Mario Paint over two decades ago. I figure I mint my kid’s “art”, sell it as an NFT and retire next week.I’m bullish on ETH so I figure that even if I set a floor price of 0.05 ETH, I’ll be rich down the road.What’s the cheapest and best way to do this?I will only accept not financial advice

Submitted February 27, 2022 at 09:04AM

Cash transactions in person are 100% decentralized, and are not on a public ledger. That's why drug dealers, and criminals use it over CC, debit, or cash app. Crypto is on a public ledger, and you can track it. Yet somehow, crypto is the bad guy.

Read all of it because it makes one good point here that everyone should realize.You can track Bitcoin on a public ledger. That's why when someone who got a few million stolen from them can call the FBI, and they track the wallet waiting for a transaction to pop up, and when it does...the person gets nailed.You can't call the FBI, tell them 2M in cash was stolen from your safe, and have them wait for the criminal to spend some of it so they know his location.Only dumb criminals get caught...like when someone is paying $25,000,000 all cash for new condo complex in Hawaii. That's when someone gets suspicious and calls the FBI. That's pretty much the only time they can catch you in cash transaction....when someone calls them on you.With a Bitcoin transaction, the probability of you being caught after stealing a wallet they are now keeping track of actually goes up. Yeah, there's ways to unload it into different cryptos using an encrypted throwaway mobile that's not connected to you or anyone you know but it's actually a tedious process if you don't want to get caught. Using "stolen cash" or using cash from illegal earnings is much much easier than using a stolen BTC wallet.You use just $10 in Bitcoin from that wallet, and you can get nailed. If you use a couple of $100 cash at a random store.. nobody is calling the FBI on you. Because it's a normal everyday transaction.So you can have 2M in stolen cash and just sit on that for life using little by little, doing lightweight money laundering that doesn't look too suspicious and nobody will suspect anything. You can't sit on a stolen BTC wallet for life and use it little by little without jumping through fire hoops or paranoid about being caught everytime you use it.That's the point I'm trying to make. They are lying to everyone about how dangerous BTC usage is.

Submitted February 27, 2022 at 04:45AM

Daily Discussion - February 27, 2022 (GMT+0)

I'm u/vladimir-putin, and I'm asking you to donate your crypto to Ukraine if you can.

Ukraine has published official addresses to accept donations for much needed supplies. Please, I'm asking you all to dig deep into your wallets and donate whatever you can.Those of you who've been around the crypto space for a long time will remember when donations to good causes were lauded in the community as a way to grow the footprint of cryptocurrency as a way to transfer wealth across borders.Right now, we should all invoke that same community giving mentality and put our Satoshis where our thoughts and prayers are. Dig deep, send what you can, and lets show the world why cryptocurrency is the future of finance.If you're a miner, point your rewards to Ukraine, if you're staking, stake in the name of Ukraine, if you're a hodler let your grip ease up in the name of a free and independent Ukraine. There is no middle-man here. Ukraine has official wallet addresses to accept donations. This is what crypto was made to be used for-- So lets use it.Note: If you do donate, please send the Transx # in the comments below along with an indication of the country you are from so your fellow crypto enthusiasts can give some love.Proof of my identity can be found here.

Submitted February 27, 2022 at 03:29AM

Mexican senator plans to introduce BTC bill like El Salvador

https://ift.tt/0rdUbtY

Submitted February 26, 2022 at 11:42PM

Ukrainian Government Is Seeking Crypto Donations. The official Twitter accounts of the Ukrainian government provided wallet addresses for donations of bitcoin (BTC), ethereum (ETH) and the stablecoin tether (USDT).

https://ift.tt/jz10bgQ

Submitted February 27, 2022 at 12:56AM

'50% of transactions were fraudulent' when Steam accepted Bitcoin for payments, says Gabe Newell

https://ift.tt/uULpK9R

Submitted February 26, 2022 at 11:21PM

I made the entire Shrek movie into an NFT

I remembered that old post from back in the day of the guy that turned Shrek into a gif. So, I decided to take that and turn it into a NFT. You can watch the whole thing on the NFT page if you want. I thought it was interesting that no one else did this yet. Seems like it would be a perfect idea. Lol.Link: https://ift.tt/jyLpnRC up, I listed the price so high(25ETH), because I wanted everyone to see it.Feel free to watch the 90min or so movie, with no sound. I'm sure you know the words and don't need sound to enjoy it. I know I don't.The closest thing I found was a guy did list the entire script for Shrek. However, you can only see a page's worth and they're trying to sell it for 100ETH to unlock the rest of the script. Whereas everyone can watch this NFT whenever they want. :D

Submitted February 26, 2022 at 08:51PM

Reddit's CryptoCurrency coin MOON is worth over 5x more than the Russian Ruble

With everything going on I saw a more lighthearted post about Roblox tokens being worth more than the Ruble and figured it'd be interesting to see if the reddit Moons were worth more. Was actually kind of shocked it was worth around 5.8x more than a Ruble.There's probably easier ways to get money in Russia but with Moons being tied to karma and posts, it could also encourage more shit posts and spam in the sub.I'd also be interested in hearing some other random out-there currencies worth more than the RubleSource for the moon coin priceSource for the Ruble to USD price

Submitted February 26, 2022 at 03:06AM

Sometimes HODLing is not the answer. What if had actually sold back at 60k instead of HODLing to 35k?

You would have taken great profits and also been able to buy back at a lower price.I know that no one can time the market or predict it, but you simply can’t expect for prices to keep going up infinitely. At some point you’re gonna have to make the decision of taking profits and reinvesting later on when prices are down.If anything, this will give you the ability to change strategies. I actually sold around 55k and slowly started seeing that Bitcoin isnt the right investment for me.I started staking and went heavy on DeFi projects like AAVE since they’re the best at lending (which gave me a lot of leverage)and new ones like BitDAO which have the largest treasury in the market so the governance power behind it was strong.TAKING PROFITS IS NOT SHAMEFUL. I don’t know why this sub treats it as a sin. Its actually smart to sell if you make an educated decision as to when.

Submitted February 26, 2022 at 04:33AM

Daily Discussion - February 26, 2022 (GMT+0)

If you are looking to donate crypto to Ukraine for relief / aid… don’t. But first understand why.

I see a lot of people wanting to support Ukrainians who are currently being invaded by fascist Russia.Financially supporting the Ukrainian army or people who are suffering is a fantastic and noble thing to do. It’s the right thing do and the least most of us can do.I wish I could buy the bullets that personally kill the Russian invaders. But it’s not that simple.As we all know scammers have a vacuum for a heart and are trying to profit off of this crisis. “Ukrainian relief funds” are more than likely scammers accepting your thoughtful donations. Worse yet even Russians creating fake donations to soak up the funds for their cause.The ONLY way I would donate is by sending it directly to someone you know of in Ukraine who needs it or can distribute it.Do NOT let your guard down. Scammers will profit off of anything even this. Yes it is a new low.

Submitted February 26, 2022 at 03:21AM

(No) Evidence that Charles was involved in front-running SundaeSwap, part III spoiler alert OP was wrong, this happens when you want something to be true, so you take anything as a proof.

https://www.reddit.com/r/CryptoCurrency/comments/t0q8kn/evidence_that_charles_was_involved_in/https://twitter.com/IOHK_Charles/status/1497296939091566593His post:This is a follow-up to https://ift.tt/gh6st0S that post, I gave a list of about 150 addresses that connected IOHK's wallet to the billion ADA unstaked wallet involved in the SundaeSwap front-running. Naturally, I was accused of FUD, saying that I made it up and that there was no way someone could track that accurately.Here's a much shorter path connecting the two wallets.📷Starting from IOHK's address https://ift.tt/Wo1UYQR, it takes less than 15 steps to go from that wallet to the billion ADA unstaked wallet associated with the SundaeSwap front-running.You can see in the left column the outgoing address along the path, and in the right column, you see the amount of one of the transactions from the prior address to that address. The right column only gives one transaction amount even when there may be others, since it's only looking at the first page of transactions when going to the transactions page. If there were dozens of transactions outgoing to that address, then the right column only is reporting one of them listed on the first page of transactions. You can see that all but one transaction is on the order of hundreds of millions or billions of ADA. This is not IOHK paying an employee (unless employees are being paid hundreds of millions of ADA!).To follow along with how to read the table, first go to IOHK's original wallet https://ift.tt/Wo1UYQR. Then find the first outgoing address in the table above and click that link to go to the transactions for that address.So click on: https://ift.tt/75IPmzZ go to the next outgoing address in the table: https://ift.tt/If0tcOi go to the next outgoing address in the table: https://ift.tt/rDiWReS rest of the sequence is given below for you to verify yourself:https://ift.tt/8FWRGsl don't need to question whether I made up these transactions or manipulated the Cardano blockchain in some way. These records are immutable and they are available for you to verify, so go verify. I will probably be accused of being a paranoid schizophrenic again, and maybe I am, but who cares! The point of blockchain is that you don't need to trust me or anyone else. I know some of you reading this will instinctively be defensive and lash out with insults, but I dare you to verify the transactions yourself before downvoting.Edit: Thanks for taking up the challenge and looking into this. Some of you found that there was only a 10 ADA transaction between two of the addresses. That's because both output addresses (one with 10 ADA and the other with 241 million ADA) are tied to the same wallet. It's not obvious, but you can read more here https://ift.tt/zuf5DWY TLDR form of that comment is: the wallet address ending in bs1Wq and wallet address ending in oQU1E are part of the same wallet. You can tell this since they are both outputs of TxHash 547f47b146464476c2da4184fa9123d147053b2e5c84d1f0ede1479a12afbd97, and then one is the input (oQU1E) while the other (bs1Wq) is the output of the next transaction of the bs1Wq address, with TxHash d632d8f487f156c2c91a46e15b066a22888aa2f71ed61bd2d33dd61f46b9590c. That indicates that these two addresses are linked and that the second transaction is a reshuffling of ADA between addresses of the same wallet.Even if you aren't convinced that they are part of the same wallet, then suppose they're separate, independent addresses. Then that only adds one more address on the path connecting IOHK's wallet to the billion ADA unstaked wallet:https://ift.tt/76cwGHX volume from Tf4YT to oQU1E would be 241M. The volume from oQU1E to bs1Wq would be 25M.TLDR: Don't try to hard to make some transaction history a proof of something that is not.Guy had too much time and wanted CH to be a bad guy.Don't upvote this post too much, because the whole trilogy is a waste of crypto jurnalism. If you have time tho, go to the 2nd part and downvote the moonfarmer. Fake proof should not deserve moons IMO.

Submitted February 26, 2022 at 03:57AM

One of the top posts on this sub is about FTX giving $25 of 'free' Crypto to Ukrainians. It's a cynical PR move and doesn't deserve the publicity it has received. Why? Because the minimum FTX withdrawl limit is $100 and they're not planning on changing it... yet.

Many companies are jumping on fhe 'let's help Ukrainians' bandwagon, but not because they actually give a fuck. Rather, they're seizing the PR initiative to offer 'Free calls and SMS' (EE, Vodafone). WhatsApp anyone?FTX is no different and the free PR they've been receiving for this apparently magnanimous gesture is unjustified. FTX have a minimum withdrawal limit of $100 and they have (so far) not announced that this will be revised or removed.So any Ukrainian that would like to access that 'free' $25 will first need to send $75+ to FTX (almost 50% of a typical Ukrainian monthly salary).This is cynical PR fluff by FTX and should not be applauded - if and until they confirm that Ukrainians will NOT be subject to any minimum withdrawal limit.

Submitted February 26, 2022 at 12:36AM

$4.1 million in cryptocurrency funneled to Ukrainian military since Russia invaded

https://ift.tt/R1FHsUt

Submitted February 25, 2022 at 10:46PM

Ukranian NGO received $3 million worth of crypto donation from a single donor.

https://ift.tt/KfxpvNP

Submitted February 25, 2022 at 09:52PM

Daily Discussion - February 25, 2022 (GMT+0)

Lana Rhoades has a meltdown over Coffeezilla's exposing video, deletes her Twitter

https://twitter.com/coffeebreak_YT/status/1496926039313981442Fucks her fans, and then runs off with the money. She even had the audacity to bring current events into this.Here's her Twitter, which is as of now deactivated. https://twitter.com/LanaRhoadesShoutout to Coffee if he's reading this for the good work in exposing all the scammers in this space! There's way too many influencers in this space that are jumping into crypto/NFTs and then scamming their fans. Some of them are even bragging about it, it's sick.

Submitted February 25, 2022 at 05:42AM

And Just Like That BTC is Back To $38K, peaking at 39.9K, This Sub Overreacts Yet Again...

And just like that BTC is back to $38k, peaking at 39.9k. This is higher than BTC ($36.5K) was before the war was declared, How many posts did we see embracing crypto winter? Telling people not to catch a falling knife? Not to buy the dip because the war will escalate?I'm not saying the dip is over or the war is over or anything like that. But it's evident that sentiment flips on a dime in this sub. And you should never ever take financial advice from the general consensus in this sub. The sub as a whole is wrong so many times per month, yet people keep making the same posts with the same confidence saying "This time BTC is done, the winter is here" ETC. How many times are you gonna be wrong before you realize it's impossible to predict where this wild ride is going?

Submitted February 25, 2022 at 03:57AM

What the hell is happening right now ? Sudden Bullish divergence?

What the hell is just happening right now... I was scrolling through the sub, being sad and upset in regards to the current Russia/ Ukraine dilemma and suddenly my phone goes rogue and start vibing... Bulls are going crazy and a blood bath is turning into fresh Green grass ?So, short squeeze, dead cat bounce, bull trap ? You named it, I'm all ears... I don't believe we're back on track when seeing the current scenario and I believe more bloodbath is on the way before the current "green" fades away...What do you think and what's your play ?

Submitted February 25, 2022 at 03:13AM

Crypto failed to actually be a hedge asset during a major worldwide crisis today. Gold didn't.

Look at this graph. While stock market and crypto crashed this morning, gold became more valuable. Crypto was supposed to be the safe haven during a time of crises.https://ift.tt/UBA1qQy official, Bitcoin is not a good hedge asset. Even when the pandemic first started in March 2020, crypto crashed, exactly like the stock market. If you set aside your bias towards crypto and be smart, you'd buy some PAXG right now.But the problem is, when did Bitcoin become so coupled with the market?

Submitted February 25, 2022 at 02:31AM

Announcement: Flexpool.io is halting all service to Russia

As everyone has heard, Russia has launched a surprise invasion of Ukraine. The world is again faced with war, which could signal the next and possibly final war. This may be the biggest war since WW2, bigger than any of us, and goes beyond politics or nationality. This is a war at a time of peace when we are busy dealing with and recovering from the COVID-19 crisis. People are dying, and the world is guessing whether the West will join in or watch Ukraine fall to Putin's ambitions.We generally do not get involved in politics despite our personal views as a company. However, this is greater than politics, greater than anyone. This is a war that may end the world. It certainly is ending the lives of many innocent people in Eastern Europe. While there is little we can do, it would be wrong to profit off of it or fund it indirectly. We are canceling service to all Russian IPs and paying out outstanding balances.We apologize to our Russian miners; many of you do not support the war. However, it is you who are supporting your nation. Without the people, Russia cannot operate. It is only through reducing the economic power of its people that we have a chance of affecting this war. We thank you for your loyalty, and I hope you understand that we do not make this decision lightly. Should this situation be resolved peacefully, we will happily welcome back all Russian miners and use our personal funds to make it up to you.If you are in Ukraine and reading this now, know that the world is with you. We can't change the situation ourselves. We call on other companies and people around the world to join us and make a difference together. This isn't about politics; this is about preventing the end of the world and saving lives. Companies and people need to put the planet over profits in the modern era. Ukraine has four nuclear power plants. Even ignoring the chance of WW3, there is a chance of another Chernobyl should one of the plants be endangered. The Fukushima nuclear disaster in Japan happened despite the plant having been forewarned so that they were shut down and built to withstand an earthquake. Everyone in Europe, Russia, and the Middle East are in danger of nuclear fallout should the worst happen. Notice that the world will only end not because people do something but because people know yet choose to do nothing.

Submitted February 25, 2022 at 01:33AM

China's Supreme Court just declared Bitcoin illegal

The ruling paves the way for violators to be criminally prosecuted, with a punishment of up to 10 years in prison and fines of up to $79,000.China's Supreme Court ruled Thursday that virtual asset transactions constitute "illegal fundraising," paving the way for judicial prosecution of the crypto industry.While the People's Bank of China and a host of other top-level agencies had declared that crypto transactions are illegal fundraising back in September 2021, the court ruling formally designates them as a crime and determines related punishments.Thursday's ruling said that suspects will be prosecuted under Article 176 of China's criminal law, which stipulates prison sentences between three and 10 years and fines between RMB 50,000 (US$7,900) and RMB 500,000 ($79,000) for crimes involving large sums of money. Less serious crimes will be prosecuted with under three years of prison and RMB 20,000 ($3,160) to RMB 200,000 ($31,600) in fines, according to the criminal law.The amendment comes into effect on March 1. Chinese provincial authorities continue to crack down on the industry. The eastern province of Zhejiang announced increased electricity tariffs on Wednesday for crypto mining, joining Hainan and Inner Mongolia.Source CoinDesk

Submitted February 25, 2022 at 12:36AM

Until I had some money invested, I thought the world was always a peaceful place

Since I started investing in cryptocurrencies, I kinda learned that there is some shit always going on in the world.I’m 20 and mining Ethereum was my first ever investment(borrowed from parents). Until then I thought the world is a peaceful place but recently I learnt there is some shit always going on in the world that you’d only notice if you’re invested in some money market.Until last week there were protests in Canada even before that situation cooled down, another bigger, worse situation of a damn war has arised talking about the world in general. And inside Crypto there is literally so much turbulence. Can’t probably do much, just gotta HODL and get through this and hope there’s peaceWithout being in crypto I wouldn’t know that the war affects the situations so much nor would I ever know about Evergrande

Submitted February 24, 2022 at 11:18PM

Someone Just Spent 204 ETH ($553K) in Transaction Fee to Mint NFTs

https://ift.tt/VpbfZWO

Submitted February 24, 2022 at 02:58AM

The corrupt SEC is getting in a dire situation. XRP likely to win the case and Elon Musk is just preparing the next one. A cause to celebrate!

The SEC pretty much has been in a downturn since the main phase of the XRP lawsuit. But now they should get prepared for the real thing. Elon Musk just indicated preparing a lawsuit against them with 'evidence' of corruption. That could possibly finally prove the thing nearly everyone knew all along.I know many here hate Elon Musk but I'm not here to resolve that matter. His conflict with the SEC that has nothing to do with crypto actually, could be very profitable for Crypto. Over a series of tweets and emails Elon Musk has indicated having big evidence against SEC proving their corruption. This comes after the SEC refused to investigate against TSLA short sellers, something the justice department is doing now eventhough its the task of the SEC. This opens the theory that SEC is working with Wall Street Hedge funds. Let's see how that case evolves!On the side of XRP, a former SEC high-rank worker has just said that Ripple is likely to win the case. Also in the world of Crypto we had the news that LUNA may be going on against SEC too.That stuff just brings pure joy. Seeing that justice could be served over one of the many corrupt government organizations is rare and I hope they, anyone succeed with it. We are all fighting for the same cause.

Submitted February 24, 2022 at 04:47AM

XRP can't be kicked out of top 10 by market cap no matter what FUD happens to the markets: the bear or the SEC can't kill it... It's like the frigging' terminator... Who else is amused/baffled by this?

Man, I remember this sub back in December '20, so many memes appearing with that dude laughing at the funeral near the tombstone with xR(I)P. The entire crypto twitter going wild: "XRP gonna drop out of top ten by the end of January '21'..."The "centralized" crap finally going out of the door, good riddance etc. etc. Meanwhile we still have centralized crap like BNB and Solana also in the top 10 that make XRP Ledger look like the most decentralized thing since Bitcoin...Now, you all wonder, ok dude but where's the joke(s), you had me with that comedy flair.Well, yeah, HODL my milk cause those nipples need a refill but I have the feeling that in the end the joke is on us.Once the headlines read: "Ripple beats SEC" that XRP shitcoin is gonna go 2x-5x from current prices and the unimaginable (that turned out to be real at least once in the past) flipping FUD (XRP over ETH) will be a thing again...

Submitted February 24, 2022 at 01:03AM

People claiming that holding is the easiest thing. But panic after just a few red months. Holding is not easy, so congrats if you do it.

The one thing that is said the most in crypto is HODL. Many talk about how this strategy is the easiest thing and by holding rly long-term they will easily make a ton of profit. But those are also just the people that get shacked out by some short-term movement in crypto.Especially during such few months people forget their strategy and just panic. Knowing what you are doing is the most powerful thing ever. And you don't rly do that if you through your whole strategy apart at the first sign of danger.So even if you may think that holding is easy and too default. It's not like that. If it woukd have been that easy then the thousands of people that bought crypto during the very beginning would be billionaires by now. Being able to hold on to your crypto and prevent sell pressure is indeed a major achievement.

Submitted February 24, 2022 at 01:33AM

Just made 1.1$ off leverage trading. Ask me anything now.

Yes, I did the thing that everyone here in this sub is afraid of. I did the thing that no one else could. I went 25x into a certain coin and made an enormous 1.1$ profit. Now I can finally add professional leverage trader to my resume and apply for a job at some bug bank then go to a government organization, from there I will start my political career and in a few months be senator, after that I will make a crypto legal tender law as it should be and try do pass it.Sounds good right?But no joke had some amazing timing. Selling 3min before the dumb and making that profit. Oh leverage really is the safest thing ever.But don't worry I will obviously remember you all after becoming president.

Submitted February 23, 2022 at 10:45PM

Famous porn star scams her community, runs away with $1.5 million

https://ift.tt/7xqWVbH

Submitted February 23, 2022 at 09:12AM

Just for fun, I made a program that predicts the price of bitcoin

I was bored trying to think of a python program to write and I decided to write a bitcoin predicting program.How it works is it looks at the price graph for the last N (cycling through different values of N) days then tries to find the time the most similar pattern in price occurred in the past to the current pattern, then predicts the price based on what happened after that previous pattern occurred.This is probably worthless and won't be an accurate reflection of the future price at all, but just for fun, here's what it says about the next few years of bitcoin.It says that the current pattern we're in is reminiscent of 2018-01-06.On the graph, the left side of the green line is the recent price history (red line) and historical price history from 2018-01-06 (blue line), and right of the green line, the future price (red line) is modelled after the price history from 2018. The y-axis numbers on the left are the recent/future price and the y-axis numbers on the right are the historical prices from 2018.90-day prediction:Graph: https://ift.tt/ObCvznZ 2022-02-24 $41,030.37Bottom: 2022-04-19 $24,538.98Final: 2022-05-21 $34,227.861-year prediction:Graph: https://ift.tt/Q2nChtr 2022-02-24 $41,030.37Bottom: 2022-10-06 $13,340.72Final: 2023-02-20 $22,262.68(just under) 3-year prediction: (falls just short of 3 years, I think because it doesn't have enough data)Graph: https://ift.tt/UwNyRH9 2025-08-30 $282,899.62Bottom: 2022-10-06 $13,340.72Final: 2025-12-13 $155,385.66So there you have it. Just a bit of entertainment. Don't go investing based on this. I'm gonna keep track and see how successful its predictions were.

Submitted February 23, 2022 at 06:49AM

Bitcoin wallet maker gets order from Canada to "freeze" wallets

The situation in Canada is interesting for the crypto community. Namely, it shows how a government deals with cryptocurrencies like bitcoin (BTC) in a situation where it is trying to seize financial resources. And in recent days it became clear that Canadian authorities are not so sure what to do with it!Canada is on the heels of truckers and supportersIn Canada, a large group of truckers protested for a long time by blocking cities, border crossings and bridges with their trucks. The action could count on quite some support in Canada and worldwide. The truckers received many donations, also in the form of crypto. After Prime Minister Justin Trudeau activated the controversial and draconian Emergencies Act, authorities were able to freeze bank accounts and obtain data without the intervention of a judge. This is to deal with the support and consequences of the protest.Freezing Bitcoin WalletsSo in recent days there have been plenty of articles in crypto news about how Canadian authorities are going after the truckers. But remarkably, they don't seem to fully understand how crypto works. Nunchuk, a wallet developer recently received an order from the Ontario Superior Court of Justice to "freeze" bitcoin wallets of truckers and "release data." Such actions are obviously impossible for a wallet developer. In a response, Nunchuk let the court know:"We do not collect user identification information other than email addresses. We also do not have keys. Therefore, we cannot "freeze" our users' assets. We cannot "prevent" them from being moved. We have no knowledge of "the existence, nature, value and location" of our users' assets. This is by design."https://ift.tt/WHlE35t one has bitcoin in one's own wallet, no one can access it unless they have access to the private key. Keep this private key safe at all times and do not share it with anyone.

Submitted February 23, 2022 at 03:13AM

Daily Discussion - February 23, 2022 (GMT+0)

Cardano Looks Ready to Crash to $0.50

https://ift.tt/UCfYWtL

Submitted February 23, 2022 at 02:54AM

Someone is impersonating Vitalik on instagram, IT'S A SCAM

There's an account on IG called "buterin_official" with 1 MILLION FOLLOWERS that's promoting a scam THROUGH INSTAGRAM PAID ADSI repeat:1 MILLION FOLLOWERSI can't believe this passed the instagram ads processVitalik has no IG and he didn't mention anything about this on his official page nor his verified twitter account.The image is fake and the "send 1 ETH get back 2" is a scam older than the universe, don't fall for that crap pleaseHere is the real image:Original imageSpread the word, let's end this kind of bullshit that only delegitimizes cryptoReport the accounts https://ift.tt/uY83qln and https://ift.tt/26rBWta

Submitted February 23, 2022 at 01:31AM

Crypto Billionaires Aren’t Watching Price Drop. Average Investors Are. "I'm so bullish on crypto I haven't checked prices in weeks," posted Tyler Winklevoss on his Twitter account.

https://ift.tt/fwKbGpd

Submitted February 22, 2022 at 10:30PM

After Colorado, California To Allow Bitcoin Payments for Govt Services

https://ift.tt/S2mtPQO

Submitted February 22, 2022 at 09:02AM

Looking for underappreciated projects with a low mcap and a strong team.

Looking for low-cap projects with good potential and a team that is serious and delivers.Hello everybody,Just got some fresh money in my hands and I am looking to invest long-term into an underrated and undervalued project with solid fundamentals that gas good tokenomics with a promising future. The topics that I find important are usually DeFi and bridging.I like to think that decentralized trading is the future and the way that crypto should develop towards. I really do not like anything about centralized entities having control over ones wealth so projects that help against that are welcome.Show me your best gems!!Edit: Thank you for all your opinions, I’ve done research on some of the popular ones mentioned and deemed BOG with the most potential. Some runner-ups are CKB, ERG and QANX. Im sure there are amazing projects here that I haven’t had the chance to read about, so for the readers, make sure to check those out too. And always DYOR!

Submitted February 22, 2022 at 05:08AM

Daily Discussion - February 22, 2022 (GMT+0)

Stopped smoking, so my gains in crypto can rise.

I dunno if your portfolio is red or green today (mine is red), but I am very thankful that I am in crypto.My monthly income is very low and I barely can save any money. In the past it made me sad, I saw no future for me. No matter how much I save, bank negative interests + inflation rates in my country would eat them up all anyways. The spare money left I used feed my smoking habit, since saving money doesn't get me anywhere.Then there was the glorious day I discovered crypto. Since I had no money to spend, I stopped smoking for a while just to "test" buying crypto. It was a dog memecoin which skyrocketed in March 2021 to $0.18 which I fomo-ed in and sold at $0.50, I was so happy it can finally save and give investing money a new sense. Of course I stopped buying shitcoins (still thankful for DOGE because it led me to crypto initially) and then DCAed into serious projects. The crash in May didn't affected me much although I was shocked.Holding steady and kept DCAing with my smoking-cigarettes-money made me more gain I can ever believe...no I am still no millionaire and no Lambos in sight, but this gave me new perspective in my life.tldr: Double gains when stop to smoke => portfolio gets bigger + health gains..better future!

Submitted February 22, 2022 at 03:53AM

BEGINNERS GUIDE to CRYPTOCURRENCY - All You Need to Know if You're Just Starting Out!

Hi all! This is going to be a VERY long post, I did my best to explain the things I struggled with at the beginning of my Crypto journey. I am not an expert by any means, but I feel I can provide valuable information to those newer than me who are trying to get started but are overwhelmed by the amount of information on the internet.I also have a Crypto/Finance Youtube Channel and the text below is the transcript of my video. If you will gain some useful knowledge and have some time, I would really appreciate if you'd take a look. :)TOPICS I COVER IN THIS POST:CryptocurrencyCentralized vs DecentralizedDistributed LedgerBlockchainSatoshiBitcoinWhite PaperProof of WorkMiningProof of StakeEthereumSmart ContractsCoin vs TokenTokenomicExchangesWalletsMnemonic PhrasesTypes of CryptoDEFIDEXsLending and Borrowing DAPPs1. CryptocurrencyLet’s start from ground zero: cryptocurrencies.Everyone has heard of this term, but few know what it means. It derives from two words: cryptography and currency. Cryptography is at the basis of all cryptocurrencies as all of them depend on it to secure transaction records, to control the creation of additional coins, to verify the transfer of coins, and most importantly, to make them decentralized.Secondly, they’re called currency because well, cryptos are a currency.. for the most part.Now, a cryptocurrency is a form of digital asset, so online, based on a network that is distributed across a vast number of computers, and they are based on something referred to as a distributed ledger, or, more specifically, blockchain technology.2. Centralized and DecentralizedThe difference between centralized and decentralized is that in a centralized system, as the name suggests, the power and control are in the hands of a central authority, usually it’s a very small and limited group of individuals, such as the owner of a business, or the director of bank, whereas a decentralized system is controlled by everyone who partakes in that system. In the case of crypto, it can be you, me, and everyone else.The main point of cryptocurrencies is that they are decentralized, which contrasts with the traditional monetary payment systems such as banks and financial institutions, which are heavily centralized.3. Distributed LedgerA distributed ledger is a PUBLIC decentralized database that is shared and synchronized by multiple people who have equal access to all the information shared across that network and can own an identical copy of it. Nobody is cut out, and everyone who wishes to partake in it, can do so.One of the types of these distributed ledger databases is none other than blockchain, which is what cryptocurrencies are fundamentally based on.4. BlockchainA blockchain is a database that is shared among the participants, also called computers or nodes, of a network, and it stores information digitally. They are best known for their crucial role in cryptocurrency systems for maintaining a secured and decentralized record of transactions.The mind-blowing innovation is that this technology guarantees the security of the data stored in it, without the need for a trusted third party, in other words not only there will be no need to have a central authority, but this technology was designed to be entirely public to anyone. You don’t see a bank’s internal transaction, you don’t see a company’s financial statements, but you see each Bitcoin user’s balance and transactions.Another key difference between a typical database and a blockchain is how the data is structured. A blockchain, collects information together in groups, known as blocks, that hold sets of information together. These digital blocks, which are blocks just metaphorically speaking but not in the literal sense, have certain storage capacities, for example, each Bitcoin’s block is 1MB and can contain on average 2500 transactions.When a block is filled and completed, it is linked to the previous completed block in a way we’ll see shortly, effectively forming a chain of blocks containing data, known as a blockchain.5. SatoshiThis brings us to the first and most famous cryptocurrency that everyone knows, Bitcoin. It was created in January 2009 by the pseudonymous Satoshi Nakamoto. No one to this day knows who he is, and people have been speculating about his identity for over a decade with speculations ranging from, for example, that he may have been a group of people rather than a single individual, or perhaps even one of the three letter agencies. There are a few valid candidates, but no one knows for sure.One thing however that is for sure is Satoshi’s hatred for banks and for the people at the top who hold the power to control financial systems to the point where they can willingly cause citizens to lose their livelihoods, homes, and sometimes, even lives through financial crashes, without any repercussion, such as the 2008 housing market crash.Satoshi is said to own close to 1 million Bitcoins divided in multiple addresses, which would place him at a net worth of 40 billion dollars today if it’s true, and IF he is still alive, and those are two big ifs.6. White PaperSatoshi published the white paper of BTC in October 2008. A white paper, in cryptocurrency, is a document released by a project’s funders, not only in the case of Bitcoin, but in the case of any serious crypto project.A white paper gives technical information about a project and its future roadmap. Satoshi’s vision for Bitcoin was quote “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution". He wanted people to have the means to make payments with a currency, Bitcoin, without being under the control of the big guys at the top while doing so.But then begs the question.. how is consensus achieved? How do all the participants agree which transactions are valid and which are not, in a situation where everything is public and everyone, including bad people, can see everything?7. Consensus MechanismHere comes into play the part of consensus mechanisms. It is the process through which the nodes in charge of a blockchain database achieve consensus on the validity of each transaction and decide if to proceed with it, or not.Being that everyone can take part in a blockchain we needed something to prevent any malicious user trying to hijack the network, for example, by creating fake transactions where he gives himself all the Bitcoins in existence and becomes the richest person in the world. This is also known as the double spending problem, and Bitcoin was the first system to solve it.To solve this, cryptocurrencies need some type of consensus method, through which, everyone taking part in the system, comes to a mutual agreement. There are multiple types of consensus mechanisms, the two main ones are Proof of Work and Proof of Stake.8. Proof of WorkProof of Work (PoW) is a decentralized consensus mechanism that requires all the participants of a network to spend computational power, solving a complex mathematical equation, commonly referred to as mining, to prevent anybody from manipulating the system.Now, let’s start with an example to make things easier.There are two friends, Bob and Alice. Each have $20 worth of Bitcoin and Bob sends Alice $10 of those $20, in a Bitcoin transaction. The transaction is placed in a block together with about 2500 other transactions, the block then gets confirmed and recorded into the blockchain. Now, Bob effectively has $10 worth of BTC, and Alice has $30 worth of BTC.To avoid Bob claiming he never sent that $10 worth of Bitcoin in the original block, there was let’s call it a code, more specifically hash, placed in that block and it looked like this:000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f(First Bitcoin's Block Hash)That hash uniquely identified the block which got filled with Bob and Alice’s transaction. It was created through an algorithm, and it was a sort of summary of all those unique 2500 transactions that took place in that block.The following block will not only have its own unique hash as well, but that hash will merge with Bob and Alice’s block’s hash, forming a final hash and connecting the two blocks together, effectively creating a chain of linked blocks where each new block is connected to the previous one.The third block will again have its own hash merged with the hash of the second block, which was merged with the hash of Bob and Alice’s block.The catch point is, if just 1 of those 2500 transactions in each block is altered, the entire hash for that block will change, even if the other 2499 transactions are intact. This will inevitably cause the second block to be invalid as its hash wouldn’t match with the first block’s hash, which will cause the third block to not match with the hash of the second one and so on, and so on, effectively creating a chain of events. I know, this joke was not funny at all, but I wanted to say it.Do you see where I am getting with this?The transactions are in the blocks, and all the blocks are linked together.If Bob would alter his original transaction, the hash of the block in which the transaction was placed would change and would make all the following blocks with all the transactions in them, invalid. To successfully fake or alter a transaction, he would need to control a majority, at least 51%, of the entire computing power of the Bitcoin blockchain, to manipulate the following blocks quicker than the honest participants of the network.All of this, finally brings us to mining.9. MiningMining, which is applied to any cryptocurrency based on Proof of Work such as Bitcoin, Ethereum (for now), Dogecoin, Litecoin and many more, is the process by which new coins enter in circulation. It is also the way a network confirms new transactions, and it is a critical component of a blockchain ledger's maintenance and development.Participants need to use their computational power through specific mining hardware, called application-specific integrated circuit, or ASICs, to solve a complex and random mathematical equation in order to create a new block.Put in simple terms, those very powerful machines have to guess a certain number. The more computer power you have, the higher the chances to guess that number before anyone else does are.Whoever guesses it first, will effectively create a new block and new Bitcoins (or any other crypto that is mined) into existence, and those Bitcoins will be rewarded to them as a reward for the time and effort they had to put in to sustain the network.This process allows for the removal of bad players from the ecosystem, as taking part in it requires huge amounts of resources such as space, electricity, and especially the costs of mining hardware.You need to know however that not all Proof of Work cryptos require ASIC card to be mined. It depends on the algorithm on which a crypto is built on. Any mineable crypto can be mined in one of two ways, either through ASIC cards or normal GPUs such as Nvidia or AMD cards.For example, to mine Ethereum, the second largest crypto, you can do it from your computer’s graphics card and does not require you to buy any additional components, and that’s why all Nvidia’s new 3000 series GPUs are always sold out.Mining has extensively been up to debate as it consumes a lot of electricity due to the huge power consumption of graphics cards. Back in the day, you could mine Bitcoin from your laptop, but those days are long gone now.Now. Here is where the genius of Satoshi comes into place, which is applied to any proof of work cryptocurrency, not just Bitcoin.The more powerful GPUs get, the more difficult it will become to solve this mathematical equation and create new blocks.Wait.. what? Shouldn’t it become faster rather than slower, if more powerful components become available?Bitcoin was programmed so that one block would be mined every 10 minutes on average, and every 2016 blocks, or about two weeks, or the algorithm calculates how long it took to mine those blocks. If it took more than 14 days it means that it was too difficult and the difficulty will decrease, if it took less than 14 days it means that it was too easy, and the difficulty will increase. The more people enter the network and start mining, the more difficult mining becomes to obtain the same results and the more powerful GPU’s will be required to produce those same results.Each Bitcoin block rewards 6.25 Bitcoins to the winner. This reward is cut in half approximately every 4 years and it is called halving.At the beginning, the reward was 50 BTC per block. The first halving happened in 2012 and it reduced the block reward to 25 BTC. The second halving was in 2016 and it reduced the reward to 12.5 BTC, and finally, the last halving happened in May 2020 which brought the reward to 6.25BTC per block. The next one will be in 2024 and it will drop the reward to 3.125 BTC.On a final note, mining crypto on your own, especially in the case of Bitcoin, is close to impossible unless you are considerably wealthy, because it would require an absurd amount of capital just to have a small chance to mine a block, that’s why there are networks called mining pools, made of thousands if not tens of thousands of people combining their computing power to mine one specific crypto together and proportionally split the block rewards. The vast majority of mining pools are either in Bitcoin or Ethereum.10. Proof of StakeAs the second most used consensus mechanism, we have Proof of Stake. The holders of a Proof of Stake crypto will deposit and lock up, called staking, the coins of that crypto that they own, and become a validator. By doing this, they will get the chance to be chosen to validate the next block, and whoever does it, will be rewarded the block reward.Whether a validator will get chosen to validate the next block will depend on different factors, two of the main ones are randomness and how many coins they staked. This cuts out the gigantic energy and resources consumption that happens with Proof of Work as with Proof of Stake you do not require any sort of specific computer hardware.At the same time however, people argue that this consensus mechanism tends to reward those already wealthy, as the more coins you have, the more likely the chances to be randomly selected and earn the block rewards are.Some argue that this makes the ecosystem more centralized as wealthier individuals become even wealthier, however, the same argument can also be applied to Proof of Work, as if you have more capital you can afford to buy more mining equipment which in contrast will generate more revenue.11. EthereumThis connects us to Ethereum. The second largest cryptocurrency by market cap since its creation in 2016, second only to Bitcoin.Ethereum has always been on POW just like Bitcoin, but it is currently migrating to POS to solve several issues such as transaction fees, called gas fees, and transactions per second.The main difference from Bitcoin, is that Ethereum features a key technology called “smart contracts”.12. Smart ContractsSmart contracts are automated programs, built on the Ethereum blockchain, or any other blockchain with smart contract capabilities. They are fully controlled by code and once deployed on the blockchain, they cannot be changed or altered. They allow you to build multiple programmable functions on top of them, to be executed once a criteria is met.With Bitcoin, for example, all you can do is transfer the coin as a means of payment and you cannot build anything on top of its blockchain. With Ethereum however, besides transferring its main coin, Ether, you can build and create all sorts of applications on it.And no, Ether and Ethereum are not quite exactly the same thing. Ethereum is the blockchain, the network, the foundation, whereas Ether is the native coin of the blockchain.The most famous examples of smart contracts by far, are well, NFTs, and it shouldn’t really come at a surprise.On the other hand, however, there are also useful smart contracts that provide real financial services, such as crypto lending and borrowing, decentralized exchanges, liquidity pools, insurance services, and much more, but we will get into that a bit later.13. Coin vs TokenNow. All of them are cryptocurrencies, but not all of them are coins or tokens. Many people call them coins when in reality, they are tokens or call them tokens when in reality, they are coins.The difference is that a coin is native to its own blockchain, Ether is a coin native to its own blockchain called Ethereum. Bitcoin is a coin native to its own blockchain called Bitcoin. Shiba inu, however, is a token because it is built on Ethereum’s blockchain. Creating a fully operable blockchain is way more difficult than creating a token on an already established blockchain.14. TokenomicsNow, let’s get into how the value of a cryptocurrency is derived and its tokenomics, which is simply a term that indicates the economics of a crypto.Supply - The first and most important thing of any given cryptocurrency is the supply. This can be further divided into three categories:Maximum SupplyTotal SupplyCirculating SupplyMaximum Supply - It is the amount of tokens or coins of a crypto that will ever exist, including the ones that will be created through mining, staking, or made available in the future. Bitcoin's maximum supply is 21,000,000 coins which will only be reached in over 100 years from now. Ethereum, on the other hand, has an unlimited max supply.Total Supply – It is the amount of coins or tokens of a crypto currently in existence, including the ones that may not be publicly available, such as those locked in an escrow or held by the team, but without counting the coins or tokens yet to be created and put into existence through mining, staking etc.Circulating Supply - Circulating supply is the amount of a crypto in circulation in the present moment and in the hands of the general public, EXCLUDING the coins or tokens of that crypto, that are locked or held by entities such as the team behind the project.Market Cap – Market capitalization, or market cap for short, is the dollar value of all the coins or tokens of a crypto combined and it is calculated by multiplying the total supply by the last price a single coin or token was sold for. In the case of Bitcoin, there are approximately 18,950,000 Bitcoins, and with about $40,000 per coin, it would place the market cap at around 750 billion dollars.15. ExchangesNow, However, begs the question, where are these cryptocurrencies bought from and how do you store them safely?Cryptocurrencies are generally bought from what are called centralized exchanges. They are regulated companies which provide you the service of acting as a trusted middlemen between the people who want to sell a specific crypto, and the people who want to buy it.They decide which cryptos to list and there is no exchange that has all the cryptos in existence listed. It is a decision up to them. There are exchanges which list as many cryptos as possible to earn as much as they can, and exchanges known for listing as few as possible, but when they do, it’s all over the news *cough* Coinbase *cough*.The way they stay in business is by charging a small commission on each trade. The typical commission fee averages between 0.05% and 0.1%, and the larger your order will be, the lesser you will pay in fees.16. WalletsAfter you purchase a cryptocurrency on an exchange, the next step is always choosing how to store it safely. There are two main types of crypto storages. Custodial and non-custodial wallets.Custodial Wallets - Someone else retains custody of your assets. You do not own your cryptos but they do, on your behalf. These are mostly the previously mentioned exchanges, and this is where the famous phrase in the crypto community “not your keys, not your coins” comes from.By giving up custody of your funds, you have a better peace of mind because you do not bear the responsibility of securing your assets and all the risks involved with it.The Crypto community however has mixed feelings on whether holding your cryptos on an exchange is worth it due to previous exchange hacks which resulted in stolen and lost funds on multiple occasions. On top of that, it totally ruins the goal of crypto: to escape from the control of centralized entities and aiming to be our own banks.Non-Custodial Wallets - These are the wallets that you personally own and hold your crypto in. They can be mainly divided into two categories: hot wallets and cold wallets.Hot Wallets - They are software, usually apps you can download on your phone, such as the Trust wallet, Exodus or Coinbase wallet. They do offer a fantastic grade of protection and are free to use. You are the only owner of your assets and under most circumstances they are more than enough to protect what you hold, but if your device becomes compromised, you can lose everything.The most famous hot wallet by far is Metamask. It’s an Ethereum based wallet that comes as a web browser extension and every Ethereum compatible blockchain, such as Binance Smart Chain, Polygon and Avalanche, plus all the decentralized applications built on those blockchains, are compatible with Metamask. They also have a mobile app, but it’s not used as often.Cold Wallets - They are offline physical devices such as the Ledger Nano and the Trezor. You usually connect them to the computer through a cable and use a specific program to access them.The difference is that you will have to write your mnemonic phrase, we’ll get into what it is shortly, and approve transactions from the device itself which cannot get accessed unless someone has physical access to it, and as it is offline it can’t be hacked. They offer a way higher grade of protection because they do not rely on the security of your mobile phone or computer and that’s why they cost from around $60 to $200 to buy, depending on the type and features. For this reason, it isn’t the best option if you do not have much money to begin investing with.Broadly speaking, most crypto holders, including myself, tend to agree that if you have a small capital to invest, it might be better to keep it on an established exchange, especially if it is in Ethereum, and transferring those coins out would cost a fortune in transaction fees.The most important thing to know if you decide to buy a hardware wallet, is to ALWAYS buy it from the official company’s website and not from a third-party seller, even if you might find it discounted. This is because you would increase the risk of receiving a tampered device, which is by no means worth it just to save a few dollars.17. Mnemonic PhrasesNow, mnemonic phrases. All you need to know to keep your crypto safe is that when you create a so called “account” on a wallet, you are given a random set of 12-18-24 words which is called a mnemonic phrase. This combination of words will act as a password to access all your crypto. These words are randomly chosen from a specific list of 2048 words, and each word can all be identified by the first four letters. This technology was designed so that we could have a human readable “password” instead of a random set of numbers and letters.THE MOST IMPORTANT THING you need to understand is that your crypto will NOT be stored in that mobile app or ledger device, but on the blockchain. The wallets are just a gateway, like an intermediary, that provide an easy-to-use interface for everyone. The one and only thing you must carefully store, is the mnemonic phrase.If you lose your phone with a hot wallet installed, or a hardware device like the ledger nano, nothing will happen to your crypto as long as you still have access to the mnemonic phrase, which you can use to restore your crypto on a new wallet.You absolutely MUST write down on at least two pieces of paper those words, NEVER take pictures or screenshots of them, store them safely and never tell anyone where they are.Do not try to bury your ledger nano 10 feet under the ground, the only thing that matters is the mnemonic phrase which can be restored on any wallet, both hot and cold.As you can imagine, the difficulty with self-custody is evident. If you lose access to both your seed phrase and to the device where it was connected, your crypto will be lost forever. Hacking a mnemonic phrase is impossible, and 99% of those “hacking” claims you see online are simply because people’s phones or computers were either compromised or they accidentally screenshotted or emailed themselves the mnemonic phrase, or sometimes even both, for the sake of comfort, and it got leaked.18. Types of CryptocurrenciesGoing back to Cryptos. There are many types of cryptocurrencies, but only about eight are the most common:Store of ValuesSmart ContractsStablecoinsPaymentsPrivacyExchange Tokens or CoinsGovernance tokensSh*tcoinsStore of Value - They are designed to hold their value and purchasing power over time. The only crypto which is arguably considered to be one is Bitcoin because it has always tremendously increased in value over time since its inception rather than losing value like our beloved fiat currencies. People believe it is an effective hedge against inflation and that’s why Bitcoin is sometimes referred to as digital gold.Smart Contract - They are designed to be programmable and allow building applications on their blockchain, for different purposes. The most famous and used one, is Ethereum. This brought to the creation of Decentralized finance, or DEFI, in which we’ll get into in a minute. Other examples of smart contract cryptos are Binance Smart Chain, Avalanche and Solana.Stablecoins - They are usually pegged to fiat currencies, mostly, to the US dollar. They hold all the properties of any other crypto, but their value is… stable. For example, when a stablecoin is indeed pegged to the dollar, the goal will always be to maintain and hold the value of one dollar per coin. They aim to eliminate price volatility and to provide a stable medium of exchange without the need to cash out, or, in other words, without the need to withdraw those dollars to your bank account. Examples are: USDT (to avoid), USDC, BUSD and DAIPayment - They are very fast and cost very little to transact with. They are exceptionally good for transferring money quickly and cheaply. However, they tend to be more centralized as they require powerful machines to run them which normal people have no access to.Privacy - They have.. well, privacy. You see, the thing with Bitcoin that not many understand is that it is pseudonymous. All the transactions, addresses and balances are nameless, but public. Everything can be easily tracked, but nobody knows which address you own. If, however, someone finds it out, they will immediately see how much you own, who you sent crypto to, and all your transactions. There are cryptos, however, that offer full privacy and anonymity of balances and transactions. Examples are Monero and Zcash.Exchange Tokens or Coins - They are created by the exchanges from which you can purchase crypto. They offer you perks such as fee discounts if you hold their coin or token and use it to pay for the fees. The most famous one is by far Binance, and its coin, Binance coin. If you paid attention I said coin, and that is because Binance also created its own blockchain called Binance Smart Chain, with BNB as the native coin, just like ETH is the native coin of Ethereum.Governance Tokens - They grant voting and management powers to their users. They are very important in DeFi ecosystems such as Uniswap.Memecoins, also called Sh\tcoins* - They are always created on other blockchains, just like Shiba Inu is on Ethereum. The only major exception is Dogecoin, which has its own blockchain. They serve no purpose or utility and people just buy them in the hopes of making money, which sometimes works, don’t get me wrong, otherwise we wouldn’t be hearing about them, but the best way to describe them, is gambling.19. DeFiNow that we covered the basics of the basics, and I know it’s lot, especially if you’re a beginner, let’s get into the final part with a bit more complex stuff.DeFi - As we mentioned, smart contracts are automated programs that are built to follow a specific function, such as if I give you X amount of ETH, I receive X amount of a token built on Ethereum. Once deployed on a blockchain, these smart contracts cannot be changed, hence they are decentralized.If you combine multiple smart contracts into something more complex, you get decentralized finance, or DeFi, with decentralized applications, or DAPPs.DeFi is a collective term for financial products and services that are built on a blockchain and are accessible to anyone. These services are always open and there are no centralized authorities who can block payments or deny you access to something, as everything is fully based on code.In other words, DeFi cuts out the middleman and offers financial services to everyone, and unlike banks, it does so without discrimination. Let’s get now into a couple of examples of real world use cases.Decentralized Exchanges - They are simply exchanges where you can trade cryptocurrencies, with the difference that they are decentralized. They are built on one or multiple blockchains and you can trade any token built on that blockchain (or blockchains). These can range from stablecoins, to governance tokens, to meme coins.The main pros of using a decentralized exchange is the fact that you do not need to create an account or share your personal information, everything is done in a completely anonymous way. You usually just need to create a Metamask wallet, and you are good to go.On the downside however, if you want to trade Ethereum based tokens, you will pay astronomical transaction fees, and on top of that, you will be the only person responsible for any loss of funds.The most famous example is Uniswap, and you can use it to trade any token built on Ethereum.Lending and Borrowing - I’ll start this one with an example. Let’s say you own 2000$ worth of ETH and you believe that it is going to go to the moon soon. Let’s also hypothetically say that you find yourself in a real-life emergency situation and you need 1000$.You will now have two options. You can either sell half of your ETH and call it a day, but miss out on an eventual price appreciation, or you can lock up your ETH as collateral in a lending and borrowing decentralized application and borrow 1000$ worth of a stable coin against the collateral that you just deposited. This way, you will end up with keeping your position in ETH and be able to ride it and you will also get the $1000 you need.To get back your ETH you would obviously need to pay back your debt of $1000 plus the occurring borrowing fees.Respectively, if you wish to earn passive income, you can lock up your Crypto with the ability to withdraw it anytime (zoom face) and lend it to those interested in borrowing it just like in our previous example. In exchange, you will earn an interest, which is way higher than the 0.5% that a bank’s savings account gives you, while the inflation rate for 2021 rose up 7%.20. ConclusionIf you had the patience to read through these ~5500 words, thank you so much and I hope you gained some value!

Submitted February 22, 2022 at 04:26AM

Crypto Is Not Decentralized

This is really aimed specifically at the BTC maxis, but holds true for pretty much every project out there. Decentralization was the point, right? Well, it didn't work.Using BTC as the example: the proof of work concept points it towards a decentralized concept - but in actual practice, it's not.Pool DistributionFOUR MINERS CONTROL 53% OF BITCOIN'S HASHING POWER.What this shows is that there is a preferred nature to progression - and it's actively at odds with the concept of decentralization. BTC set an incredibly high bar for hashing while holding appeal for people to try it. The issue is that the for the common person, BTC mining is cost prohibitive. So, what do people naturally do when something is cost prohibitive? They pool their resources.Which, normally, works out great! Except that's the exact opposite of what the mission was: decentralization. Pooling resources is literally centralization. By removing the individual autonomy of participants - the original targeted democratic governance is reduced to an oligopoly.Almost every single thing people love about crypto - the exploding value, the decentralization, etc., is all fundamentally undercut by the processes you use to exploit it.How do you buy BTC? We used to buy it P2P. Now, the most common outlet is a CEX. From decentralized - to centralized. CEXs are nothing but pooled resources.So, when people claim BTC is 'decentralized' all I can do is laugh. It's a network dominated by four entities and entirely reliant on centralized exchanges. That's why it is what it is today. BTC doesn't hit $30k, 40k+ without massive money coming in - and that money is, surprise... pooled. That's what institutional investments are: pooled resources.BTC had an incredible vision - but the reality is, it has been entirely usurped - and largely by the same people that still sing it's original vision as if that's somehow what made it what it is today. Which is simple not true.

Submitted February 21, 2022 at 11:47PM

Daily Discussion - February 21, 2022 (GMT+0)

Credit Suisse whistleblower leak: Bank facilitated $80 BN money laundering for Human traffickers, drug dealers and murderers. Actual criminals continue to launder via the largest banks, but you be damned if you earn a little bit of spare income in crypto

A whistleblower has leaked account data from Credit Suisse, which shows that some of the most notorious criminals across the world maintain accounts with the bank, including alleged human traffickers, Venezuela officials who looted the country at the same time the people there faced massive inflation, and a billionaire who ordered girlfriend’s murder.The investigation: https://ift.tt/hFWfolS are some of the clients of the bank described in the whistleblower article:A Yemeni spy chief implicated in torture. The sons of an Azerbaijani strongman who rules a mountainous territory as his own private fiefdom. Bureaucrats accused of looting Venezuela’s oil wealth and hastening its descent into humanitarian crisis.Credit Suisse’s clients included the family of an Egyptian intelligence chief who oversaw torture of terrorism suspects for the CIA; an Italian accused of laundering criminal funds for the infamous ‘Ndrangheta criminal group; a German executive who bribed Nigerian officials for telecoms contracts; and Jordan’s King Abdullah II, who held a single account worth 230 million Swiss francs ($223 million) at its peak, even as his country raked in billions in foreign aid.Venezuelan elites accused of plundering the state oil firm funneled hundreds of millions of dollars into Credit Suisse accounts. The money flowed during a period when widespread looting from government coffers precipitated an economic collapse that has prompted six million people to flee the country and driven others into near starvation. The bank kept its Venezuelan clients’ accounts open even as global media exposed corruption cases against many of them.These kind of people have zero problems laundering their ill gotten wealth via the banking system, but damn if you earned more than $600 in staking rewards, you have to start reporting via Form 1099, if you spend $10k in crypto, it will have to be reported directly to the IRS. All these regulations and laws are put in place to track crypto because regulator and central bankers constantly attack crypto as a conduit for money laundering. However the biggest criminal enterprises solely rely on the banking system for laundering their funds.Drug cartels or Venezuelan elites who looted their own government have no issues with KYC, but if you make a p2p or anonymous crypto transaction, you can risk your funds being locked!The loops you have to go to have your crypto income accounted as a legitimate source of earning, only for those in the government to accuse crypto of facilitating money laundering, crimes and whatnot...But when the actual allegations come out its invariably the central banking system that facilitates money transmission operations for some of the largest criminal enterprises in the world, including drug cartels and human rights abusers and corrupt rulers.These are quotes from employees of Credit Suisse:“When someone wants to engage in money laundering after he loots assets of the country, for example, he needs to transfer the money. So holders of big accounts go directly to the very senior managers,” he said.The system was based on plausible deniability, said former employees. Bankers are given strict rules, but the incentives are to ignore them.“The bank’s compliance department are masters of plausible deniability,” the former senior manager said. “Never ask a question you do not want to know the answer to.”Other articles covering this leak: https://ift.tt/oMJITWX

Submitted February 21, 2022 at 04:39AM

Last week it was all “bull run is back on” and now it’s crypto winter is officially here. Stop living week to week y’all, it’s a good way to burn out.

Basically what the title says, last week many Americans were super bullish on the Super Bowl and all the crypto ads where the “bull run was back on”. People started to get the BTC to 100 or 200k posts ready to go and any potential war between russia and Ukraine were dismissed as FUD.Fast forward to a whole 7 days later and there are multiple posts about being in a crypto winter for the foreseeable future. This is the volatility that comes with the territory of being in the space so instead of riding the roller coaster it might benefit some to just unplug from the daily/weekly news and chart watching. If you set your limit orders and price alerts then go live your life, it’s much harder to be affected by the constant volatility.Who knows what’s in store for next week? Personally I think it’s bearish news for the foreseeable future with, coming interest rate hikes, tax season, and the constant threat of global conflict despite institutional involvement being at an all time high.

Submitted February 21, 2022 at 05:06AM

Nobody blames FIAT when criminals launder money, but when they use Crypto, it’s a Crypto problem.

The same thing was happening during the beginnings of the internet era. If someone was kidnapped or murdered by someone they met on the internet, media blamed the internet.Decades later, people are over it because internet is a necessary part of their lives.The world’s ‘regulated’ banks are laundering more than $2 trillion every year.If that was a case of Cryptocurrency, there would be numerous “BREAKING NEWS” topics, posts, titles about how Crypto is ruining the whole world financial system, helping the criminals and all kinds of panic stories.Will we ever get importial news? Did you know that terrorists sometimes drive in cars and are drinking bottled water? Did you know that when you don’t breathe you die? And also that every 60 seconds in Africa, a minute passes?? Wow.

Submitted February 21, 2022 at 02:34AM

You should definitely not listen to this sub during any major movements in crypto.

As we are currently having some major downtrends in the crypto market its way more important to stick to your plan than ever. But also major movements are the time where this sub is overly bipolar.This sub is something way more volatile than crypto. Any minor movement causes a complete shift from bull to bearish in this subs sentiment. And during major movements like this, the sub goes completely crazy. Making predictions of either 100k in a week or as now 18k tomorrow. If you would listen to this sub you would absolutely master buy high sell low.You should not listen to anyone actually during rough times and during very amazing times. Those are the moments you should keep your plan to yourself. Just strictly follow it and sell/buy when YOU think it's right. That way you won't regret it.

Submitted February 21, 2022 at 12:57AM

Crypto taxes are a shit show

(US Taxes) I’ve tried multiple tax tools trying to get my taxes straight this year and none of them are coming through, either the API fails to load or CSV won’t import.I have used around 10 exchanges and some of them have hundreds of transactions I need to correct plus these dust drops in my trust wallet causing it to say I have 4 mill in unrealized gains wtf.I can’t be the only one pulling my hair out trying not to get audited. What are you guys doing for yours? Any tips? This experience has made a hodler out of me!!!

Submitted February 20, 2022 at 07:10AM

REVOKE OPENSEA ACCESS NOW! Opensea is getting DRAINED by a hacker!

This is urgent. Open sea is being hacked RIGHT NOW and peoples accounts are getting drained! Over 300 ETH has been taken already!The attacker hacker is selling the stolen NFTs to others to pull ETH out - Currently they have over 300 ETH in their wallet! AND GROWING!Make sure to REVOKE ALL OS APPROVALS ACESS NOW! To keep your funds safe!https://i.redd.it/oe5u72r25wi81.jpghttps://twitter.com/0xfoobar/status/1495208279210876930?s=21https://twitter.com/Jon_HQ/status/1495194181744021508REVOKE ACESS ON OPEANSEA RIGHT NOW! Lots of details are still not known!

Submitted February 20, 2022 at 09:37AM

Opensea is getting exploited, right now

Opensea is getting exploited, right nowReports/rumors that people who migrated their listings to their new contract are getting their nfts drained right now. Doodle, Azukis, NFT Worlds, BAYC... all worth over 10ETH+Opensea have been advertising at the top of their website to users so they would migrate their listings before feb 25th...This is a wallet who has been exploiting the contract : https://ift.tt/wLb4AyP 1twitter 2If you are affected, revoke all OS APPROVALS using revoke.cash ASAPEdit : someone suggests that it might be a phishing attack that was weeks in the making twitter 3Edit 2: seems like the attacker has stolen over 700 eth worth as of yetFiller Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler Filler

Submitted February 20, 2022 at 07:42AM

Daily Discussion - February 20, 2022 (GMT+0)

Do you believe that BTC can reach 1 million in 10 years time?

I know no one knows shit about fuck. But do you believe that bitcoin will reach 1 million in 10 years time given all the slow adoption of BTC in every company. Fidelity, Cathy woods and prominent billionaires like Michael saylors thinks and believe that BTC will reach around that price target. Fidelity, BlackRock, and greayscale our some of the big institutions accumulating BTC on the sideline and giving way to major adoptions to conservative investors and curious investors who wants to dip in digital assets. Given that big institutions are entering the market are you seeing the bright future of BTC along the way.So do you buy whatever the price it? Do you accumulate continuously no matter what the price action it? Do you HODL and do you believe that we will reach this kind of market outlooks.I want to hear your opinions about this one.

Submitted February 20, 2022 at 03:40AM

I am sure 90% of all NFT and metaverse sales are people selling shit to themselves. 9% are morons who think they can resell a butt-ugly jpeg for more and MAYBE 1% really believes in a virtual ecosystem.

It is extremely easy to inflate a price of any NFT. Create two wallets, sell with one, buy with another. You just set a price for your own NFT!This alone is proof enough for me to doubt all sales on every NFT marketplace and you should too. I would stay away from all NFTs and especially the "established" and expensive ones. The prices are inflated by a couple of wealthy crypto-bros who are not wealthy enough to manipulate mid-cap coins anymore. They realized that it is incredibly easy to make idiotic Jpegs, sell them to themselves and the community will do the legwork and write articles about "Bored Ugly Gorilla Club for 6.000.000!!" and so on. This will lead to suckers buying this shit for "cheap" (bro, it's only 10 ETH, bro!).Is there a place for a virtual market? Undoubtedly yes, but you will not sell you ugly-ass cartoon for millions in a couple years.

Submitted February 20, 2022 at 01:26AM

US Fed closes loophole that allowed their employees trading stocks, bonds, and cryptocurrencies to prevent shady behaviour. This is a very good thing. This sub: "stupid corrupt government!!"

I feel like all I do on here anymore is rant, but seriously? I am not from the US, so not an expert on all of this, but quick summary what happened:Last October, it became public, that some Fed officials had been trading stocks and bonds that could be influenced at least indirectly by their decisions. And, weirdly enough, it seems this wasn't against any rules - and to be fair, this doesn't necessarily need to be shady in any way, but it's a really bad look. Some people had to leave their positions, even though nothing illegal happened, this was a pretty bad look.Okay, so now they approved rules banning their officials from doing that. This is very reasonable. Should it have been done earlier? But, considering things happened already, is there anything better they could have done? I mean... not really? They reacted appropriately. There were no rules, this was bad, now there are rules. No reason to praise them for it, but they did the correct thing.So what does this sub do? You can guess it, "government bad". Read the replies in this post, or the ones in his even worse post titled "Feds get caught insider trading, government says OOPSIE". Let me quote a few:"This is just stupid""This will just make shit worse""Oh so now they want to prohibit it after all the years they made millions upon millions of dollars.""In completely unrelated news the average net worth of thr spouses of these employees has gone up 500%" (yes, of course this is prohibited now as well, as you would know if you would actually read any article)"Fuck the government and the feds. They only do shit that benefits themselves.""They're all fucking crooks""Rules are beneath us. - Governments, prolly."People, what do you want? This is an example of a government body seing a bad situation and actually improving it. I am not a fan of the US government, but in this case, what tf do you want? Do you not understand the situation at all, or is the only situation you would say something positive about the government if they said "we give everyone 10 BTC!!!"?Ugh. Sorry for the rant, but this is really ridiculous.

Submitted February 19, 2022 at 11:08PM

Fed senior officials will soon not be allowed to trade crypto, stocks and bonds Is this a good call?

https://ift.tt/XEzpwnN

Submitted February 19, 2022 at 03:01AM

I have seen so many people say “Buy the dip” but I haven’t seen a single guidance on HOW to buy the dip. My strategy on how to approach a downturn and I would like to hear more about your strategy as well please!

Previously I have written about DCA strategy + buy the dip. The DCA part does the job of taking out the emotions, and the “buy the dip” is to utilize the time to make your cost basis even lower (DCA down). In a time like this, it’s the worst idea to sell low. If you want to sell and take profits, you would have been doing it way back in Nov or early Dec last year.Now if you are not selling low, you’re halfway to success. You don’t want to do this:Please don't do this!But anyway, today I’d like to talk about HOW to buy the dip, because I have heard of it so many times here, but no one says how to do.The two types of mistakes in a downturnPanic buying and run out of fiat too early: Let’s say you have always wanted to buy more of something but can’t wait, so you go all in the first dip. As usual, the dip will dip lower. You realize you have run out of fiat and hate yourself for missing out lower dips.The overly pessimistic: You listen to a bear on the daily and they said (like in July 2021) BTC is going to $16k or even $12k! You keep waiting in Aug, Sep and realize the market trend has reversed! BTC was going up again. You have missed the chance!Ideally, you don't want to be either of these types. It's impossible to catch the exact bottom, but even getting 10% close to it as a "buy the dip" purchase would be great!Look at the big pictureMarket entry cost basis broken by band. Full credit to @ TheRealPlanC on Twitter.As you can see, there are various strong holders with cost basis between $36,380 to $41,872. Failing that, a relatively weaker one of $35,008, then a series of between $32,262 to $33,635. If it goes sub $30,889 there is almost no bull defense until $26,770 – that’s why we frequently hear “for the bear, it will have to trigger all the stop losses all the way down to $27k”. Never say never, but BTC going down to $16k or $12k is quite remote, unless there is an extreme black swan event.Contrary to the popular belief, it usually takes weeks or months to confirm trend reversal, not a couple of days. Why? Crypto is often regarded as “riskier” than other asset classes, thus in a downturn, it will usually be one of the first to be sold. Thus, on the way back to recovery, it will require tremendous volumes over some time to confirm the trend reversal.The big picture includes the financial market outside of crypto. The most noticeable is S&P 500, NASDAQ and news about interest rate. And then we should not ignore the elephant in the room, such as Russia-Ukraine.How low the dip will go? – market indicatorsAfter we know that the market conditions would translate for (at least) several weeks in the “underwater” mode, it’s time to find the support bands. That would be one of the bases for setting price that trigger the dip buying orders.Find the support bands: If you go to Tradingview and select the daily candle for BTCUSD pair, you will find some areas acting as support bands – kind of like a floor that prevents the price being dragged down further.Tradingview - BTCUSD pairIf you’re not familiar though, several people can tell you the support bands. For example, Ben Cowen recently uploaded a video for the bear case. Sally Ho from Crypto Daily identifies the following downside objectives: $39,927 => $39,394 => $38,527 => $38,316 => $37,869 => $35,982 and $35,698 areas. Just now we are testing $39,927!Relative Strength Index (RSI): Usually if RSI is less than 30, it’s a better time to buy. The lower it is, the larger amount I will buy accordingly.The most recent time when RSI for BTC fell under 30 is 24 Jan 2022. That's a local low of $33,556. This is from Coindesk.There is a website that tracks RSI instantly as well as many other market indicators in which you can track on Investing.com => indices => Bitcoin Real Time Technical.Investing BTC indicators - you can see RSI is 34.061 now.Whale watching: When you start seeing the whales have started buying, it is also something worth considering. One of my most recent watch is the third largest address. Of course, this is just relative though. Whales make mistakes too, so don't take it as 100% signal.Bitinfocharts - the third largest whale. As you can see here, this whale last buy is 274 BTC @ $37,260 on 04 Feb 2022. It has stayed on the sideline in the last 2 weeks.Action: Set reducing buy orders, don’t go all in the first dipAfter having an idea about the scope of the dip, it’s time to put into action. The lower the price, the bigger the order. For example, if I use the support bands above.Just an example. Again, this is up to your risk averse level. You may say, well my cost basis is $38k so I won’t start buying again until it hits $37,800. But this way you can make sure you still have fiat to buy if the dip goes lower. Never go all in the first dip.And of course, this is not financial advice, but that’s my strategy, along side dynamic DCA. What is yours? I would like to hear please.

Submitted February 19, 2022 at 05:40AM