All Free: February 2021

When will car titles be a part of the blockchain?

I was just thinking about how often I lose car titles. Is this a possibility? When someone sells a car they could transfer the title through blockchain. It just makes so much sense. Nothing physical, all digital. What do you guys think? Is it a possibility?

Submitted March 01, 2021 at 10:19AM

We need to keep calling out scammers to protect this community. Scammers are NOT welcome here!

Listen up fellas, I’ve noticed a huge increase in the number of scammers trying to steal your precious crypto, login info, etc. due to the growth of cryptocurrency in general and the insane growth of our sub. We have to do a better job at calling these fools out and putting them on our known scammers list. I know many of you already do a great job at this, so thank you and keep up the good work. I think it would be a good idea to have more visibility around a “scammers list” so the good people of our community stay safe from these predators. Countless people in this sub continue to get PM’s from shady accounts which are clear scams.With so much growth surrounding cryptos, we need to do our best to protect our community from malicious activity. By bringing attention to the scammers in this sub and on discord, we will be doing a service for the crypto community and educating people on how to stay safe!Remember: If it sounds too good to be true, it probably is!

Submitted March 01, 2021 at 08:29AM

I'm quitting smoking and buying cryptocurrency every week with the money I save.

I tried this a while ago, though I was throwing money at options on Robinhood, just to give myself something to do. Needless to say, it didn't work out. I blew a bunch of money and started smoking again just a few months later.Now I'm ready for a change! Smokes are $12 a pack where I am at and I will buy at least $12 of crypto each time I would have bought a pack.

Submitted March 01, 2021 at 09:32AM

E-commerce merchants can now choose to accept ADA through COTI's gateway

https://ift.tt/3sCgz6Y

Submitted March 01, 2021 at 07:31AM

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

https://ift.tt/2NEVB8L

Submitted March 01, 2021 at 04:38AM

Tokenizing a forest

So I had the idea that if we tokenized forests as an investment that we could plant a massive amount of trees and help preserve nature. For example the redwood forest has a lot of old trees that can live for thousands of years potentially. Each coin/token would be assigned to a specific tree. In order to mint new tokens you plant more trees and assign them to the tokens. If a tree dies that coin is destroyed from circulation. The use case for the coins could be to simply reinvest in the health of the forest. I feel like this is even possible to do for coral reefs as well. Australia is sitting on a trillion dollar investment if they could tokenize sections of the coral reef. The health of the coral reef would be directly related to its potential value. I don’t really know much about the intricacies of how cryptocurrency‘s are formulated or made but I believe this idea is valuable and if it’s possible to implement could be revolutionary.

Submitted March 01, 2021 at 07:35AM

MIT’s Digital Currency Initiative Raises $4M for Effort to ‘Harden’ Bitcoin

https://ift.tt/2O4WeYW

Submitted March 01, 2021 at 06:17AM

I only started buying in a few months ago but I am loving this dip

To be honest, with the likes of Elon talking about coin like it was a get rich quick scene and the guys over a wall street bets running pump and dumps anyone who was in knew that a lot of coins were over valued and it was only a mater of time before they came back down. I was afraid that it was all going to take off faster than I could pile in any real money but this dip has given me a chance to get some real value. To he honest, the people who are bailing out now were always going to bail because they were looking to make a million dollars of a $600 stimulus cheque. Do your research! There is some good value out there right now! And some good long term money to be made.

Submitted March 01, 2021 at 07:26AM

DeFi protocol Furucombo loses $14 million in Evil Contract attack

https://ift.tt/3dUJK0M

Submitted March 01, 2021 at 06:07AM

English is outdated!

English is sooo inefficient and slow, there's so many other languages that have bigger vocabulary, can communicate faster and convey ideas better!Just because it's the number 1° language and most widespread in the world doesn't mean that another one won't substitute it! Network effect isn't that important!Wait a couple years and you'll see english fall back behind to new and more update languages!(contains irony)

Submitted March 01, 2021 at 06:50AM

We’re all trying to make money here

So I’m noticing a lot of bashing of other coins/tokens going on, especially with the recent ADA surge, the not too long ago spike of BNB and the BSC tokens. Genuinely curious, why can’t we all just be happy for each other when someone here is making money and is in profit from their investments? If someone else’s crypto is making them money, no need to be salty about it. We’re all trying to make money here lol (besides the people in it for the tech). I sold my BNB back in 2017 for peanuts and even though I’m salty about that, I’m happy that people who dumped above $300 and even now made money. Besides the obvious pnd scams, let’s be happy for each other 💯

Submitted March 01, 2021 at 05:23AM

Someone just deployed a smart contract based on the Tiananmen Square massacre on Binance Smart Chain

There has been contention in recent weeks between users, supporters of, and developers of the Binance Smart Chain and decentralized blockchains like Ethereum.Proponents of decentralization aren't happy that CZ and Binance dishonestly promote their network as decentralized and 'DeFi', with a number of rumors about just how many of BSC's 21 nodes are operated by Binance (some say 11, others have said all 21, some say just a few).After CZ has started bashing Ethereum and artificially infalted ETH gas fees by making all withdrawals pay 10-30% more than ETH gas station's 'highest' rate, it appears that proponents of decentralization have struck back.They've launched a DeFi/farming app on BSC about the Tiananmen Square massacre, presumably to force CZ to remove it and end BSC's charade as a 'decentralized' blockchain.Here is the smart contract address: https://ift.tt/3kxbLwA is an interresting test of a 'decentralized' system to see whether Binance removes the smart contract or risks getting on the bad side of the Chinese government. I'm curious to see how BSC reacts and if they try to retaliate somehow.

Submitted February 28, 2021 at 12:03PM

We Made it Guys! The Fake Daedalus mobile wallet has been removed from the Google play store !

We did it!The Fake mobile wallet is finally removed from google play store!https://ift.tt/2MAhqWo cant find it in the store anymore.Thanks to everyone who reported the app and rated it 1 Star, I Hope we managed to save some people from falling into that trap.If you see more Fake apps like these before do your part, Warn people about it and report them.Here is a picture from the Cardano sub reddit:https://ift.tt/3bQihKW

Submitted February 28, 2021 at 08:57PM

Shark Tank's Kevin O'Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

https://ift.tt/3sBioB3

Submitted March 01, 2021 at 07:12AM

Daily Discussion - March 1, 2021 (GMT+0)

Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.Disclaimer:Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, 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 🌔rCryptoCurrency DiscordPrior Daily DiscussionsMonthly Skeptics Discussion thread

Submitted March 01, 2021 at 07:00AM

Current mood

https://ift.tt/37Wihbe

Submitted March 01, 2021 at 12:32AM

3 years ago today: Walton team won their own competition! Keep doing the great work!

https://ift.tt/3dWhgDY

Submitted February 28, 2021 at 10:50PM

2021 expectation vs 2021 reality

https://ift.tt/3q2UM6G

Submitted February 28, 2021 at 10:29PM

NANO content seems low today so..

https://ift.tt/3b1WYXT

Submitted February 28, 2021 at 10:52PM

Me checking my portfolio when I wake up to go to the toilet at 4am

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Submitted February 28, 2021 at 10:07PM

Insight

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Submitted February 28, 2021 at 06:19PM

money isn't the same anymore

https://ift.tt/2PeJcIN

Submitted February 28, 2021 at 07:07PM

Trying to explain it to my girlfriend.

https://ift.tt/3b2ZYTC

Submitted February 28, 2021 at 04:28PM

And it's not even waterproof

https://ift.tt/3q16zm1

Submitted February 28, 2021 at 06:06PM

Power of Blockchains! $50K transferred in less than a second, zero fees, no middlemen.

https://ift.tt/37R4xyn

Submitted February 28, 2021 at 04:17PM

The current situation

https://ift.tt/3uNlowf

Submitted February 28, 2021 at 04:40PM

My precious

https://ift.tt/3aYyMFO

Submitted February 28, 2021 at 11:56AM

No place for Fiat in my portfolio

https://ift.tt/3dPXfip

Submitted February 28, 2021 at 05:16PM

And now I'm broke as hell

https://ift.tt/3dSCjap

Submitted February 28, 2021 at 12:12PM

We all hodl our breath

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Submitted February 28, 2021 at 10:33AM

It’s harder than it looks

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Submitted February 28, 2021 at 09:51AM

Doing my own research before loading up on alts

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Submitted February 28, 2021 at 08:24AM

My luck so far

https://ift.tt/2Mx7tch

Submitted February 28, 2021 at 06:48AM

Life of a crypto investor

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Submitted February 28, 2021 at 06:53AM

This Week In 2 Minutes

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Submitted February 28, 2021 at 05:00AM

When you ask for price predictions in r/Bitcoin

https://ift.tt/2O4RSkw

Submitted February 28, 2021 at 02:40AM

Daily Discussion - February 28, 2021 (GMT+0)

Sharing my tips with everyone here especially to those who are new to crypto

Hi all, I work in the Finance industry and have been trading stocks and crypto for years now. I would like to share some of my tips and knowledge here, hope you like them!Guides:Stick to your personal trading rules and ignore noise/hype.Don't FOMO into a coin. Price always pulls back so never chase the pump and never buy at the top. If there's nothing to buy. Wait for a good entry. Let the pump come back to you.Expectation: you won't get rich overnight. After buying a coin, don't expect it to double overnight. Just be very patient with a coin before considering selling it. Just remind yourself why you bought the coin in the first place!The crypto market is unpredictable, anything could happen.I wouldn't recommend leverage trade/ shorting now - We're in a bull market now so it's not wise to take extra risk to leverage trade or short the market.Remember: most traders lose money, and the richest people in the world you know are long term investors, not traders.I have made much more money by investing mid-long term than going 20x on trades thinking I'll get rich overnight.We're in the middle of a bull market now and I don't think we're at the top yet. There's still money to be made but don't expect you can 100x your money, though I believe 10x is still quite possible.On that note, just focus on finding your 10x coins rather than aiming for a 100x moon coin, it's just unrealistic now. The time to make 100x is gone. Prepare to buy in the next bear market to prepare for the next bull cycle, that's how people make 100x.Exit strategy:While it's fun and exciting when we're in the middle of a bull run. But remember, this bull market won't last forever. While it's good to take advantage of this opportunity to make life changing money, don't forget to plan your exit strategy. Always remember to take profits.For example: if you're lucky enough to make 10x. Take some out and put it in Btc/ Eth for long term investments. Take some out to tether so you can rotate the profits into another 10x coin. Take some out to fiat so you can enjoy your money. Leave 5-10% in the original coin in case it will still moon. Have a plan!Know when to sell:Write down your price target when you buy a coin so you can ignore noise, FOMO and emotions down the track. When the coin is approaching your price target then start shaving off the profits. Remember: you don't have to sell the whole thing, you can always sell 10%—20% to take some profit out.You can dollar cost average in, and you can always dollar cost average out.Thanks guys for reading. Hope the above helps and hope we all get rich. Above is not financial advice.PS: It's my birthday today so please upvote this post if it offers some value to you. 😊😊

Submitted February 28, 2021 at 03:45AM

Bitcoin is lit

https://ift.tt/3bIXPfg

Submitted February 27, 2021 at 11:41PM

You guys are my only friends

https://ift.tt/3bZzyBR

Submitted February 27, 2021 at 06:33PM

This tutorial is followed by every Crypto YouTuber

https://ift.tt/3kBug3i

Submitted February 27, 2021 at 08:04PM

Everytime bitcoin dumps, shitcoins goes aaaaaaàa.

https://ift.tt/2PhUPPn

Submitted February 27, 2021 at 05:56PM

Palms are sweaty, knees weak...

https://ift.tt/3ss3kp6

Submitted February 27, 2021 at 07:10PM

Luckiest generation

https://ift.tt/3b1kC6W

Submitted February 27, 2021 at 05:51PM

Bitcoin Explained

https://ift.tt/2OarW6X

Submitted February 27, 2021 at 04:28PM

But it keeps dipping

https://ift.tt/2MtGXAn

Submitted February 27, 2021 at 04:56PM

Literally my portfolio this week

https://ift.tt/37SJ3Bs

Submitted February 27, 2021 at 01:10PM

Balls in too deep

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Submitted February 27, 2021 at 12:07PM

Buy the dip

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Submitted February 27, 2021 at 08:38AM

I just like the technology

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Submitted February 27, 2021 at 07:01AM

You learn to buy the dip

https://ift.tt/3dNQCx2

Submitted February 27, 2021 at 07:36AM

Keep Hodling!

https://ift.tt/3uAZE6l

Submitted February 27, 2021 at 07:02AM

Ain't this the truth

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Submitted February 27, 2021 at 07:22AM

When you show your altcoin "portfolio" to a friend

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Submitted February 27, 2021 at 07:03AM

You're hired!

https://ift.tt/37S64UY

Submitted February 27, 2021 at 07:01AM

Wanted to clear up some misinformation going around about Ada

I’ve been lurking around the sub a good amount today and everybody seems to be convinced Ada is some magical coin that will change the world and rocket to the moon. I am here to clarify some things about Ada.Ada is actually a small town in Ohio where Ohio Northern University is located, home of the Polar Bears. They’re most well known for studying engineering and pharmacy. It’s a small private university where a year probably costs close to 50k per year so be prepared to sell an arm, a leg, and your soul to attend there if you don’t have a good scholarship or a trust fund.Nearest major down is Lima. If you haven’t heard of Lima, you’re probably not familiar with Ohio. If you haven’t heard of Ohio, you probably aren’t from the states. Ohio is in the Midwest region. When I say Midwest I actually mean the mid-east when looking at the country as a whole on the map, but we call it the Midwest because geography is stupid.If you have any additional questions or confusion about what Ada is, please ask away in the comments and I’ll do my best to answer them.

Submitted February 27, 2021 at 03:54AM

Daily Discussion - February 27, 2021 (GMT+0)

Stellar Lumens(XLM): Not a Stablecoin, Just an Underdog

Some people here think the world owes them guaranteed profits. You have invested in a project you believe will reward you with something bigger in return, yet you lose your cool every time you see red or it has been a “stablecoin” lately. I think this bunch of people either bought when lumens was at .40-60.I believe that the people who have the largest holdings don’t even moan about this price. They have a strategy instead. They don’t constantly check the price and complain about how XLM is dipping or not pumping up hard lately. They are probably buying this dip more, or they have cashed out their initial investments and let the profits ride. They are probably more interested in learning what Stellar does to check if its mission is still being actively developed and upheld by SDF, so they’ll have the assurance albeit not guaranteed that they have put their money in the right project. They are probably the most patient ones cause they are secured by the fact that Stellar has gained more adoptions, and it has been around since 2014. It has survived the harsh crypto winter by developing more projects.Cryptos have definitely caused a lot of “investors” (might as well say speculators) to have short-term memories and expect numbers to go up instantly. When they don’t, they think the coin is a shitcoin and jump into another one.It is funny how we even call it cryptocurrencies when people don’t treat them as currencies but assets.I get that it is highly frustrating knowing how XLM still hasn’t reached its ATH while some coins did. What this just shows me is that the market is irrational.Consider Doge, a memecoin but went parabolic; XRP with Ripple being sued for selling XRP for profit yet it is still soaring; CAKE and BAKE which rose to a high price because of the DeFi hype; ADA with no real projects built yet but future speculations; ETH with congested network and high gas fees; and BTC which has failed to become a digital P2P currency and is now branded as a store of value.If we talk about fundamentals, Algorand (I don’t hold any) and Stellar are at the forefront. The Marshall Islands used Algorand to issue their national digital currency called SOV. LTO has also gained partnerships with UN and the Netherlands Government.We can say as well that Ethereum is at the forefront(heck even Bitcoin as it has the institutional backing), but until now it hasn’t fixed its scalability issues and the high gas fees. Sure, Layer2 exists like Loopring but majority of people still use Layer1 and using Layer2 solutions is actually not user-friendly. If Cardano can indeed deliver, then I don’t think Ethereum will be the main player in the long run.If you look at CoinMarketCap though, most of the projects in cryptocurrency space are either a knock-off of Ethereum or trying to be the next Ethereum.You have Binance launching its own DEX and taking opportunity of the crazy yield farming hype. You also have ATOM launching its own interconnected blockchain which sounds really cool, and you earn some sweet stakes at 10% APY, but the question that always crosses my mind is this: what important problems are they trying to solve, and have they really solved at least one thing?Because all I see when it comes to these projects are: GREED. GAINS. SHORT-TERM. HYPE.You can even earn 30% APY on some. How sustainable is this?It’s clear. The market is irrational.When all this hype goes down, I hope projects tackling important problems like Stellar will rise up, and maybe just maybe, XLM will be valued fairly.We know that XLM is undervalued. We know that many traders use it as their bridge currency for exchanging their cryptos or moving coins between exchanges. We and they know that XLM has a great potential. Just a day ago, a leading mobile operator in Turkey, Paycell, announced support for buying and selling of cryptos and guess what? XLM is supported again next to ETH and BTC.*Ever heard of the gas station in Croatia accepting XLM, BTC, and ETH too?*Buying rums in Bermuda with a digital dollar issued on StellarGetting cashback rewardsHave you also heard that you can send absolutely send remittances now to Mexico, Brazil, Argentina, Tanzania, South Africa, and Nigeria using Stellar? You can. Just use a Stellar wallet like Lobstr.What about creating NFT on Stellar without paying huge fees? You just need 2 XLM at most.*Do you even know that Stellar has an in-built DEX? Right. What does that mean? Well, if you download or use any Stellar Wallet, you can do P2P trades (buy, sell, or swap) for a fraction of a cent. In a simple word? You have instant access to a decentralized exchange. Stellar is a payment and a DEX platform at the same time.The most famous Stellar tokens gaining traction? Well, Smartlands (SLT) with 7 million total supply tokenizing assets like real estate and agriculture and has a fee-pool incentive of 33% going to SLT holders holding €1000 of SLT as well as AKON which is being adopted in Africa.As you can see, the tokens listed on Stellar are actually solving different purposes. They are not just a knock-off of Uniswap.Listen. All major exchanges have stellar lumens (XLM) too. Another news? Coinbase will be launching their own debit card with 4% XLM cashback.Lumens can be moved easily fast and cheap. It fits the most crypto of crypto as a currency.Stellar is not all about hype and future speculations. They have the products working already. I believe if we value XLM based on fundamentals? It is easily a top 3 coin.Its founder Jed McCaleb is also not a shiller. Some might say Stellar should up their marketing game, and they are working on that now. But I appreciate Jed for not being like the rest of the founders and devs who participate in Twitter shilling.It’s clear. You can’t really call it a failing crypto or mock it as a stablecoin. I’ll wait till this underdog rises up. If I lose money, so be it. I have principles even in investing: I only invest in projects that solve important problems and do the work diligently without building so much hype than putting my money in projects fueled with hype but can’t offer anything tangible on the table.To hotdogs and rums. Only Lumenauts will probably get this.Edit: removed author by request.

Submitted February 27, 2021 at 03:28AM

1 month ago I join the Crypto family today I was awarded 30 moons!

I had no idea that you could win Reddit moons for contributions to this sub Reddit! I have to say I’m delighted 😁Hopefully I can grow my meaty stack of 30 moons into atleast a 100!Anyway hope you all have a great weekend I must get back to checking Binance and exodus every 5 minutes! 😂💎🚀

Submitted February 27, 2021 at 01:08AM

Top 25 Cryptocurrencies - 3 Pros, 3 Cons

I haven’t seen a thread aggregating what are perceived to be the biggest strengths and weaknesses of all of the top cryptocurrencies so I thought I’d have a go at that here as it is not only useful for me personally but probably also a number of other people relatively new to the world of cryptocurrencies.To start with, I’ve listed 3 pros and 3 cons for each of the top 25 assets. I’ll try to remain objective. However, I am not a financial advisor, and this is based solely on my own reading and what I think seems to be some kind of consensus. If you think there needs to be things added or removed, let me know below and I’ll endeavour to update this list in reasonable time. Also, please feel free to help me add any other coins below.I hope this can be a civil discussion without the need for tribalism.—Bitcoin (BTC)Strengths• Widespread institutional involvement making it a store of value & fiat hedge• First mover advantage/name recognition = head start on real world adoption• Deflationary fully decentralised tokenomicsWeaknesses• High transaction fees• Scalability issues = slow transaction times• Huge environmental cost due to proof-of-work concept—Ethereum (ETH)Strengths• First mover advantage in the smart contract space• Most developers, nodes, and dApps of any cryptoasset• Network is Turing complete = widespread use and potential applicationWeaknesses• Inflationary tokenomics (no fixed cap)• Scalability of transactions causing high gas fees• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0—Binance Coin (BNB)Strengths• Enables smooth trading within largest exchange and BSC with low fees• Fast network due to centralised nodes• Greater crypto adoption/use of Binance = increased demand = increased valueWeaknesses• Centralised control = contrary to ideals of cryptocurrency• Exposed to greater risk of price shifts due to centralised control of supply• Risks being treated as a security by SEC as tied to private company profit—Cardano (ADA)Strengths• Strong development team with evidence-based approach• Transparent roadmap towards decentralisation, scalability, and security• Deflationary tokenomics, involving staking supportWeaknesses• Staking addresses link to wallet addresses• Long rollout with not all planned aspects fully usable• Censorship can exist due to separation of computational and settlement layers—Tether (USDT)Strengths• Most widely used/highest liquidity stablecoin on exchanges• Strong record of holding currency value against the dollar• Legal battle with New York Attorney General recently settledWeaknesses• Stablecoin so no more designed as an investment itself than the US dollar• Centralised supply, which can be minted whenever team decides• Perceived unscrupulous behaviour by team, misleading about how it’s backed up—Polkadot (DOT)Strengths• Most widespread use of token governing cross-blockchain interoperability• Enabling secure parallel chains for scalability and reducing transaction fees• High degree of developer flexibilityWeaknesses• High fees to run nodes to validate network• Limited developer adoption compared to Ethereum• Large amounts of assets held by relatively few wallets—XRP (XRP)Strengths• Enables fast cross-border payments, particularly targeting businesses• Name recognition and early market leader in payments space• Negligible feesWeaknesses• Strong competition + regulation in market space = slow adoption• Highly centralised nodes, privately held for proof-of-correctness algorithm• Recent delistings from exchanges and halts to trading due to court cases—Litecoin (LTC)Strengths• Faster transaction confirmation that its direct competitor Bitcoin• Long-standing trusted cryptoasset with historically solid top 10 ranking• Near ubiquitous listing on exchanges and some mainstream adoptionWeaknesses• Limited developmental input recently in comparison to other projects• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins• At risk of being devalued if Bitcoin can be effectively solve scalability—Chainlink (LINK)Strengths• First mover advantage in blockchains/off-chain data feed communication• Benefits from rise in value of businesses and blockchains it partners with• Expansive market space for use of native network in real world applicationsWeaknesses• No clear roadmap or timescale for future developments• Impacted somewhat by the speed of the Ethereum network for data transfers• Relative centralisation of stored token assets—Bitcoin Cash (BCH)Strengths• Similar computational structure to Bitcoin and therefore easily co-adopted• Addresses the scalability issue of Bitcoin specifically• Smaller fees than the majority of its direct competitorsWeaknesses• Perceived negativity surrounding its leadership, marketing, and community• Direct competitor of Bitcoin which has a large market advantage• Variably poor throughput of transactions resulting in low revenues for miners—Stellar (XLM)Strengths• Fast cross-border payments between individuals• Negligible fees• Not-for-profit philosophy = inclusive global payment system compared to XRPWeaknesses• Competitor of XRP without first mover advantage• Nodes are privately held for consensus algorithm, with little financial incentive• Small centralised development team—USD Coin (USDC)Strengths• Ethereum network stablecoin with fast transfers stabilising other cryptoassets• More positive press than nearest direct competitor Tether• Institutional backingWeaknesses• Stablecoin so no more designed as an investment itself than the US dollar• Strong competition from other stablecoins including market leader Tether• Uncertainty if regulation will impact stablecoin use long term—Uniswap (UNI)Strengths• Tied to performance of burgeoning market-leading decentralised exchange• Enables holders to engage in the exchange’s governance activities• Developer team planning major upgrades later in year = version 3Weaknesses• High initial distribution to relatively few developers• Ethereum network token so fees high at times of congestion• Persistently inflationary tokenomics—Dogecoin (DOGE)Strengths• Fun and engaging story/community encouraging new users of crypoassets• Low transaction fees• Relatively quick transaction times leading to some real world adoptionWeaknesses• Celebrity impact = pumps and dumps unusual for high market cap assets• Long term inflationary tokenomics with high supply• Virtually no development for many years—Wrapped Bitcoin (WBTC)Strengths• Allows Bitcoin liquidity to be used easily within the Ethereum network• Expands use of decentralised finance network• Takes the security of bitcoin with the usability of smart contract tokensWeaknesses• Wrapping is a centralised process, relying on trust of a central body• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network• Transactions of token subject to potentially high Ethereum gas fees—OKB (OKB)Strengths• Allows low fee trading on the OKEx exchange, the second largest centralised exchange• Buy-back and burn deflationary tokenomics• Can be used as payments for any goods and services partnered with NOWPaymentsWeaknesses• Centralised control of token supply and withdrawal• Multiple OKEx controversies including suspending withdrawals for one month• ERC-20 token subject to potentially high Ethereum gas fees for transactions—NEM (XEM)Strengths• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake• Applications for transfer of assets, votes, contracts, etc. can be coded in any language• Major upgrade announced for March 12 which XEM holders can opt intoWeaknesses• Few key meaningful differences in application to Ethereum, its main rival• Reputation of team for not being marketing savvy in not finding user base• Low developmental transparency with poor user interaction—Aave (AAVE)Strengths• Tied to market leader of non-custodial transparent decentralised lending• Holders can partake in project governance• Discounts on borrowing for holdersWeaknesses• Variety of financial options complex and not necessarily intuitive for new users• Limited current adoption beyond the crypto space• Transactions of token subject to potentially high Ethereum gas fees—Cosmos (ATOM)Strengths• Unlimited ecosystem of independent interoperable dApp-specific blockchains• Improves scalability in smart contract system compared to current Ethereum network• New developments more easily added vs Polkadot = greater adoption potentialWeaknesses• Tendermint consensus algorithm is limited to fewer validators than competitors• Less fundamental need for native ATOM token within network compared to competitors• No capped supply on tokens—Solana (SOL)Strengths• Billed as the fastest blockchain with token used to pay transaction fees• Smart contract compatible with scalability built in• FTX recently selected Solana blockchain as basis for their decentralised exchange SerumWeaknesses• Large amount of tokens held by development team• Relatively recent rise to prominence so concerns that value may be unpredictable• Recent blockchain bug caused 6 hour outage—Crypto.com Coin (CRO)Strengths• Close ties to fiat financial world through exchange and card = more adoption• High interest rates when staked on native exchange• Team trying to increase decentralisation preparing for upcoming blockchain launchWeaknesses• Little fundamental use case outside of exchange ecosystem• Centralised supply of token with centrally made major developmental decisions• Transactions of token subject to potentially high Ethereum gas fees—Monero (XMR)Strengths• First mover privacycoin where transaction tracing is virtually impossible by design• Highly decentralised development and governance• Low transaction fees compared to other proof-of-work projectsWeaknesses• High complexity of code and blockchain causing more challenging integration to markets• Governmental regulation more likely which could curtail listings and activity• Proof of work algorithm coupled with complexity results in scalability issues—EOS (EOS)Strengths• Much higher transaction speeds than main competitor Ethereum• Negligible transaction fees• Capacity to run industrial-scale decentralised appsWeaknesses• Extremely few existing nodes and inherent difficulty for more• Essentially hitherto outcompeted by Ethereum and others for dApp takeup• Community is sour on future and project founder has left recently—Bitcoin SV (BSV)Strengths• Hard fork from Bitcoin Cash with strong vision to create viable payments system• Large block size enabling fast transaction speeds in comparison with BCH• Minimal transaction feesWeaknesses• Multiple security lapses due to problems with blockchain code• Fast transaction speeds/low fees has been more successfully adopted using other algorithms• Strong negative feeling from many in crypto community, many of whom regard it as a scam—TRON (TRX)Strengths• Strong vision of empowering content creators to have ownership of their own web content• Smart contracts can be created in many programming languages = easier development• Faster transaction speeds and lower fees than competitor EthereumWeaknesses• Concerns regarding the ethics of founding CEO and team• Very similar code to other projects but not implementing their more recent innovations• Delegated proof-of-stake confirming process prone to becoming centralised

Submitted February 27, 2021 at 12:28AM

Don't tell anyone how much you've made off of CC. My cousin recently sold everything since he has enough to retire and...

Holy hell the number of people and relatives that come out of nowhere was surprising. He only told a few people but it quickly spread. The real problem is not those irrelevant people, but his closest and direct relatives. Our family seemed stable when it came to money. No one ever seemed like they'd be like this other than 1 or 2 members. Some of his siblings are fighting him, his mum is just being a horrible person. The things that have been said left me in shock. My parents/siblings have been trying to resolve this but I also see the greed in some of their eyes.I feel bad for the guy. We spent the first week just talking and doing random shit to distract him from the situation at home. Some of his relatives turned on his girlfriend blaming her when she has kept quiet the whole time and just supporting my cousin. Honestly, I'm worried for him. We don't know how to handle the future, but for now, we're just making sure he spends it wisely and limits himself.Seriously guys, LPT even if you think your family is not like other families, and money won't cause this. Just stay quiet. It's for the best. I've always felt this way, but after seeing it... just wowI hope everything makes sense up there cuz I have yet to sleep and I feel like I'm rambling

Submitted February 26, 2021 at 10:42PM

Cardano Overtakes Binance Coin as the 3rd Largest Cryptocurrency by Market Cap

I'd say it's about time we saw Binance Coin drop down a notch! Considering the amount of work put into building the foundations of a 'future proof' cryptocurrency, the Cardano project is finally starting to take off, and now we see it taking its rightful place on the rankings.https://ift.tt/3aX6dsb

Submitted February 26, 2021 at 10:26PM

Warning: Get your Coins out of Robinhood while you still can!

We always said, “What if Robinhood started trading paper (fake) Bitcoin without holding the actual Bitcoin to back it up?”.This is what happens when a unscrupulous company needs more money fast and the chances of your Robinhood crypto positions being non-collateralized (non backed up) have literally never been higher. Even more so, the chances of Robinhood failing as a company have never been higher.Look into the eyes of the young CEOs who made their money by deceiving retail investors and selling them to the hedge funds via order flow. Do you really want to let these guys hold your crypto?For the next day I will personally answer any questions that any of you may have about selling your Robinhood positions and getting into a real exchange.Do the right thing NOW because it’s also the smart thing and because you low-key always knew you should have been doing this.

Submitted February 26, 2021 at 06:23PM

I don't care if you invested $100 or $1M. You're doing something for your future and we should all respect that.

Don't let anyone bring you down because you can only afford $100 to invest in crypto. If a few hundred dollars is a significant amount for you, then the gains on that will also be significant. Time in the market is a huge factor, so if you're young and patient, chances are you'll make decent money even with less invested.Moreover, a smaller investment at first is ideal to test the waters, it gives you time to properly understand how crypto works, and do your own research on several projects.I was also a broke college student when I put my first $200 in crypto in 2017. I wasn't really active in this sub because I felt like I was not part of this community. Most of the guys here were talking about lambos & yachts, and to be honest, at first I would've been super happy to just double my investment and buy gas to visit my GF more frequently.Only invest what you can afford to lose, do your own research, and don't be afraid to ask!

Submitted February 26, 2021 at 06:22PM

Crypto has given me real hope for my financial future for the first time in my life.

Just a little anecdote about my relationship with crypto and what it has done for me.I don't come from a wealthy background. enough to get by and to have some luxuries, but very much working class. I first heard about Bitcoin in 2012 and passed up on buying 10BTC at $10 each because the exchange required ID and I couldn't be bothered. I've lived with that regret ever since, and have foolishly kept to the sidelines observing crypto from a distance. recently I decided to invest for the first time, for the reason that I don't want to live with that regret for the rest of my life. I'd rather lose money I can recover than wonder "what if?" for the rest of my life.anyway, after lots of research on crypto I settled on a split of Cardano, Nano, and Bitcoin. I've been mining banano using at folding@home, lending out my processing power to help advance medicine and earning the banano cryptocurrency in doing so. I feel like I'm a part of something much larger than myself. if you're not aware of banano or folding@home for crypto I highly recommend checking it out: /r/banano. It's a great concept with a strong community and it's a great way to get people into crypto, as banano (it's a fork of nano) transfers instantly, no fees, it's kid-friendly and laid-back. lots of fun. btw, if you're new to banano and are interested in it send me a message and I'll send you some banano :)anyway, what started as a small investment turned into a second savings account. the benefit crypto has had on me is twofold:If I had the money in my bank account, I would feel tempted to spend it if I had a higher than usual amount. By locking away crypto in a wallet and treating it as a long term investment, that money won't be spent on a whim. as a result, my crypto wallet after 3 weeks has more in it than my savings account did at its peak (profit aside)cryptocurrency in general gains value over time. instead of just having a savings account that I don't touch and whose value decreases over time due to inflation, my cryptocurrencies gain value. a 5-10x price increase over the next year is not unreasonable.I've never had hope for my future, financially. I resigned to living a poor, working class life a long time ago. I never thought I'd have any money. with my increasing levels of chronic pain, I've begun to worry that I may not be able to work for much longer.Crypto has changed all this. I now have so much hope. I have a savings account that is decentralised and isn't through a corrupt bank (always hated banks, so crypto makes sense). and that savings may well 10+x over the next however many years. if it did that, I may never have to work a job I don't want to ever again. I'd be able to rest easy, not worrying about getting through each work week with chronic pain.crypto can change my life forever. but more importantly, it can change the world forever. it's exciting, and a privilege to be a part of this. it truly is a once in our species opportunity.thanks for reading this long, pretty self-centered post. feel free to share your own experiences/give any input, I'd appreciate it.

Submitted February 26, 2021 at 05:17PM

Babel fees on Cardano

/r/cardano/comments/lsoukq/cardano_just_won_the_stablecoin_arms_race_and_no/

Submitted February 26, 2021 at 01:46PM

Don't leverage trade. Please.

So.. I'm a bit embarrased to write this, but if it prevents a single person from not losing money, it's worth it. Here goes.I'm a student who had a bit of spare money which just kept sitting and depreciating on my savings account. I don't really need that money and it isn't anything lifechanging (I couldn't even buy a car with it), so I decided to go all-in in crypto. I picked DOT for sensible risk-reward ratio. Things have been going great, when DOT peaked I doubled my money. I wanted to sell something to buy a new laptop at that point but my DOT was locked in staking and, more impornantly, I had a huge exam coming.When things were crashing for a few days I finally decided to unstake a third of my holdings - unstaking period on Binance is 2 days, my 60 DOTs arrived yesterday. After I passed (hooray!) the exam, I was really exctasic, and so was crypto, for that matter. I was convinced BTC was now safely above 50K USD. I hade prior experience with leverage trading, It always went like this: made money -> got greedy -> increased leverage -> lost everything. Total amount lost is like 150 USD - so nothing terrible - but my potential profits (if a pulled the trigger) were in 1-2K USD area. That sucked but at least it wasn't my money.I didn't really like the idea of selling my DOT as I truly believe in it's future - but i found something called futures. Didn't realy understand it but aparantelly there is also a possibility to leverage trade with your tokens (instead of USD) as collateral. That sounded great, were finally recovering from the crash to 45K USD, why not make a bit of extra money?I started with 3x leverage, nothing crazy and plenty of cushioning if shit hits the fan. In a few hours I made profit made a profit of 10 DOT or 340 USD - that's crazy, I'm from Europe and this is more than I made at my part time job for all of February! I was really pleased with myself, I passed the exam, my girlfriend came over and now this.This all happened after 4 sleepless nights, I was really nervous about that exam and couldn't sleep. Finally, I decided to go in bed - and my stupid ass opened another leveraged trade, after all, BTC was now stable, right? I woke up 9 hours later, BTC meanwhile dropped from 51 do 47K and my long trade lost value from 70 DOTs to 30. I could have swalloved it and cut my losses but I didn't, of course.In the next few hours I opened and closed many long/short trades with increesing leverage, just trying to save what lost. That didn't work. It never works - especially when greed and panic takes over. During the course of writing my post a lost last 12 DOT on overleveraged trade in the final attempt to break even. I didn't even care about it - despite 12 DOT being more than I make in a month.I'm feeling like shit right now, called my girlfriend who is really awesome and managed to improve my mood a bit. Also I still have 2/3 of my DOT holdings, I'm not in a loss - but my P/L is really close to 0 now. Decided to withdraw the rest from staking and will concider selling some of it if the market rises again. That said, I can't imagine how this possible feels when you loose your family savings or even take a loan to trade crypto.I guess the bottom line is this: Don't be greedy. It's not that hard to make more money out of it but you get in a never ending downvard spiral - always wanting more, more, more... Also, there are more important things in life than money - one of them is mental health. If you get severely depressed as a result of investing in crypto, it isn't worth it. I don't care what you say, it just isnt.I'm sorry for a chaotic post but I really wanted to get it out of my self. Leverage trading is shit. Market will recover, your losses won't. Please, spread the FUD about leverage trading, I'm going to go for a walk now. Also, I'm sure there are far worse stories than mine - I'd be happy to hear them if you got over it and want to further encourage people not to do this.Stay strong.

Submitted February 26, 2021 at 02:49PM

Stop checking your Portfolio every 5 mins. Get some fresh air etc. Take care of your mental health.

I know thats easier said than done but you guys really need to relax for a bit. When im reading the daily some of you seem really stressed out and i think you should take your mind off crypto for a bit.Youre mental health is important and if youre getting stressed out because of "red days" "dips" etc you might have invested more than youre comfortable with and should consider taking out some of that money to alleviate some of that stress.It just hurts to see how it negatively impacts some (most) of you..

Submitted February 26, 2021 at 12:40PM

Dont Fall for the FUD. Ethereum is Scaling as Early as Next Month.

Optimistic Rollups are going live in March on Ethereum which is next week.What is special about Optimistic Rollups is that they are VERY easy for DAPPS like Uniswap, Compound, Aave, etc to implement.They basically copy paste their code over into Optimism and voila they're on L2.Uniswap is currently by far the largest contributor to ETH congestion and high fees (making up about 30% of fees alone on ETH)Once Uniswap, Sushiswap, Compound and these other major Dapps implement L2 all the congestion is going to come off of Ethereum which means transaction volume is going to shoot through the ROOF but will be done so for pennies.This is the most bullish news to the ETH space but you will not hear it emphasized because of all the FUD going around saying eTh CaNt ScALE.With EIP 1559 also coming this summer allowing for more "predictable" fees therefore saving average users gas fees along with L2, Ethereum is going to experience SIGNIFICANT growth in the coming months.Dont Fall for the FUD.

Submitted February 26, 2021 at 06:56AM

Finally took profits for the first time ever after 4+ years!

After much patience...I have finally taken my first string of profits from being down around 90% in 2018. Dollar cost averaging in AND out is a beautiful concept.It feels good man!Just wanted to tell someone.

Submitted February 26, 2021 at 10:38AM

Reddit Moons have paid for my bills two months in a row now. I literally cannot believe Internet memes are covering living costs!

Sorry if this seems like a silly post but I am absolutely blown away that my comments and posts on this subreddit are paying my bills.I tried to explain this to my parents and a couple of friends but they couldn't get their head around it, they still think I'm some crazy bitcoin investor who is gambling his money like a mad man.The whole reddit moon concept is genius and I am truly impressed at how the community has handled it so far especially with the ability to vote on key issues and how they are distributed.I guess all I can say is thank you and I hope they are all helping you as much as they are me!Edit - people have asked what moons are so I have copied and pasted a summary i wrote a while back as a reply in the comments

Submitted February 26, 2021 at 05:19AM

Daily Discussion - February 26, 2021 (GMT+0)

Brave Browser will soon help users purchase crypto at the lowest price using decentralized exchanges.

https://ift.tt/3bGd9Jj

Submitted February 26, 2021 at 03:57AM

To those who are calling BSC the future of decentralisation and pumping BNB and binance - NO, Binance Smart Chain is not decentralised or defi

Was just watching a video shared by another CC member which claims to be explaining BNB's future and how great of a role Binance has in nurturing decentralisation.Binance is a good exchange, but a centralised one. BSC is good too in terms of transaction fees; but it's also centrlalised.Binance Smart Chain (BSC) is owned by binance, and all the nodes are owned by binance related parties and it's 100% centralised.Every bsc is a multi-sig wallet, because cz is always a co-signer.Do share your thoughts on the sudden bsc pumps and shilling.

Submitted February 26, 2021 at 12:56AM

Tesla CEO Elon Musk is reportedly under SEC investigation over Dogecoin tweets

https://ift.tt/38566Jx

Submitted February 26, 2021 at 02:25AM

Coinbase Holds $230 Million in Bitcoin on its very own Balance Sheet 👀 They were hodling since 2012. Diamond hands seems to pay out now. Those BTC also helps to look sexier for IPO.

https://ift.tt/3kmRdXL

Submitted February 25, 2021 at 11:17PM

Crypto youtubers and your cringe inducing thumbnails... time for change!

I’m so sick and tired of these YouTube crypto influencers using these god damn emoji click bait thumbnails.Where is the credibility?! There is none. All of them are the same. They treat the entire crypto community as if we are a bunch of 15 year old kids popping adderall.How will the outside view of crypto ever change when you can’t tell the difference between a crypto news article on YouTube and some 10 year old kids minecraft upload when both thumbnails look exactly the same. Sirens, emoji, stupid fonts, retarded shocked looking facesIt makes me cringe so much that these grown ass men are using thumbnails designed by kids to attract kids to shitty toy unveiling’s and reviews.It’s time for serious streamers to drop this absolute trash approach to gaining followers.I’ll tell you right now if I saw a streamer using a thumbnail with grown up adult content like clean images, intelligent font and no BS click bait I’ll be hitting that subscribe and smashing that like button...

Submitted February 25, 2021 at 09:21PM

Coinbase Receives SEC Stamp of Approval for Public Listing

https://ift.tt/3aT5PLf

Submitted February 25, 2021 at 07:44PM

"The 'Internet Of Money' [Bitcoin] should not cost $0.05 per transaction. It's kind of absurd." - Vitalik Buterin (2014)

Saw this quote on another sub and it made me laugh. Vitalik Buterin is the creator of Ethereum - the most popular cryptocurrency making use of smart contracts and the second most popular cryptocurrency overall. Vitalik's creation of Ethereum was one of the most significant turning points for the cryptosphere and opened the door to a whole wealth of new use cases. It's popularity and use has grown ever since its release. It seems however to be suffering an unfortunate side effect of that success. Recently the high levels of activity on Ethereum have caused transaction fees to rocket to over $20 on average. Many users are reporting being hit with fees several orders of magnitude higher. Ethereum 2.0 is in the works to rectify this however no clear launch date has been set. What are your thoughts, can Ethereum's popularity weather these high fees? It still seems to be going from strength to strength despite them. Or will projects increasingly move to lower cost alternatives. If so will they move back to ETH when Ethereum 2.0 is launched?https://ift.tt/3uw2UA5

Submitted February 25, 2021 at 05:48PM

Risk management tips for beginners in crypto

Why can crypto be a risky assetUnlike the stock market, crypto has a very different valuation. A share in stock is generally based on the worth of the entire company, profits, and performance. Crypto is more based on projected value and sentiment (there are exceptions to this with tokens such as BNB or stable/backed coins). The upside to this is there is no real set limit to how high or fast a cryptocurrency can grow if there is enough demand for it. The obvious downside is that it can fall just as fast. So does that mean that it's just too risky for someone new to join in? Well no, however, it's up to you to reduce the risks.Risk management methodsHold (aka hodl)The most simple and often the most profitable. By holding for an extended period of time you can even out the ups and downs. Sometimes we are our worst enemy when it comes to trading, panic selling when the price starts to go down, or even selling everything when there is an increase just for another larger gain a few days later. For Bitcoin, if you had bought at any stage and held for over 5 years you would be in huge profit.Unfortunately holding isn't a magic bullet that will always lead to profit. There are times when holding doesn't work, there are many coins that have just faded away. Additionally, you may have to be prepared to lock up that crypto for 5 or 10 years which could have been earning money on other assetsDCADollar-cost averaging, this one is pretty simple also. By putting in small amounts every week, month or year you can greatly reduce the volatility and additionally benefit from the dips. This can be superior to holding when there is a lot of price movement both up and down. Now is probably a good time to DCA rather than put a lump sum into crypto, hitting all-time highs can be a very risky time for the market to crash.One thing you may need to be careful of when doing the DCA strategy is not to get too sentimental on a coin that you like if it continues to fail. Spending more money on a lost project that will never recover is just throwing money away.Take profitTaking profit can be a great way to keep the gains that you have made. Many people rode the 2017 hype and kept holding everything only to see it crash down to levels that still aren't even close to the all-time highs that they had. A good way to take profit is to set a % that you will sell. So if something gains 10% sell 2%, gains 50% sell 10%, and so on. After a while, you may sell off your initial investment and the rest will be "free" money without ever having the fear of making a loss.Taking profit will mean you gain less in the long run if a coin continues to climb without having major corrections so there is a trade-off with how much profit you want to take off your initial investment.RebalanceSomething that is done in stock market investing is to have a mixed portfolio of safe assets and risky assets to balance out your risk levels. You can do the same with crypto, unfortunately most of the market will follow each other so diversifying multiple crypto tokens isn't really going to work. One thing you can use is stable coins to dilute your crypto portfolio then rebalance when there has been a large shift in the market. This works the same as taking profit however it can be beneficial in both directions. When there is a dip in the price you can use the safe assets to buy more, then when it goes up you sell more to go back into the safe proportion.CombinationAside from using a single risk management method, you can combine the above to suit your own needs.Let me know if there is anything I have missed or that could be improved on.

Submitted February 25, 2021 at 07:15PM

10 Rules FOR CRYPTO ROOKIES

Invest only what you can afford to lose.Always DYOR before jumping into a coin.Always Invest into coins with strong fundamentals such as ETH, ADA, Link etc.Diversification is the key but don't over diversity.If you are new to crypto, BTC and ETH are the safest.Dollar Cost Averaging (DCA) is the best stragety.Don't Leverage Trade. You will get rekt if you don't know about trading. So Spot is the best.20%, 30% and 40% dips in a bull market are normal and healthy for the market. So, don't panic sell during a dip. In 2017 bull run, we had one 40% dip, four 30% dips and three 20% dips. In this bull run, the last dip was 33% and this one 23%.HODL.Do read about BTC halving as it will give you an insight into the ins and outs of the crypto market cycle. Halvings occurred in November 2012, July 2016 and May 2020. In simple words, a bull run starts after btc halving.

Submitted February 25, 2021 at 05:31PM

Bitcoin is now boomer crypto. Prove me wrong.

Bitcoin definitely has lots of future, will most certainly go up in price, and will continue to have have utility as a store of value. However, it will become very stable, unexciting, and thus will be attractive to boomers. Projects like Cardano, Ethereum 2.0, and Polkadot are the future of crypto.Edit: Monero also.

Submitted February 25, 2021 at 09:58AM

Thanks to each and every one of you

Hey everyone. I've been reading success stories about cryptocurrency for a few years now, and I always thought it was never meant for me because I'm not the kind of guy that has a few thousand dollars to spare on a gamble. But browsing this sub for a while, I learned that you don't need a few thousand dollars to get started.A few weeks ago, a good friend of mine gave me a tip on a fairly new alt coin that looks promising, and I have just doubled my small investment so far. I would have never gotten into it if it hadn't been for this sub.Seeing all these "only invest what you can afford" advices gave me the push I needed. Until then, I thought crypto was meant for already fairly rich people who only want to get even more rich.I'm not one of those people. I'm a 31 year old single guy who makes a decent amount of money, but I can't apply for the mortgage I want because the bank thinks it's too much of a risk for a single income household.I have savings. Enough to pay for the costs that go with buying property, not enough for the bank to trust me.I don't need a fancy Lamborghini or an indoor swimming pool. I just want to buy my own place. If a crypto profit of a few thousand bucks gets me there, that would be nice.If I lose my investment, so be it. At least I've tried.So again, thank all of you for unknowingly giving this stranger the push he needed towards being a little more comfortable financially.EDIT: Wow, never have my posts ever received even one award. I didn't thought this was going to be the one that would, and then suddenly receiving 9 awards? You guys are a really heartwarming community!

Submitted February 25, 2021 at 03:27PM

Crypto is not "winner takes all". Multiple projects can succeed simultaneously.

The bulk of the world's car manufacturing is handled by 60 different manufacturers. The US alone has slightly less than 8,000 banks/credit unions. Why do people think that only their precious chosen coin is destined for success, while all others will fail miserably?Having this "my coin is going to do better than your coin" mentality is toxic. Most cryptocurrencies depend on each other's success and can coexist together perfectly.Why can't we be excited for and supportive of each other's investments?

Submitted February 25, 2021 at 03:08PM

Know your MOONs (Round 10)

This is a comprehensive list of graphs about the Round 10 distribution. For a concise TL;DR version, head over to the end of the post.MOONs per karma :Moons given out per karmaIt is quite obvious and this time too the trend is downward. Moons given out per karma is decreasing faster over time. There's almost a 40% decrease relative to round 9.Number of Vaults :Number of vaults at each roundAlthough number of vaults at round 9 were at an all time high, The number of vaults at round 10 BLOWS this round 9 of proportion. There's a 188% increase relative to round 9.Average MOONs users earned :Average moons users earned for each roundThis perfectly lines up with the huge rise in number of vaults. More people are earning moons. There is almost 41% decrease compared to round 9.Average MOONs moderators earned :Average moons moderators earned for each roundWell, moderators too are earning less moons. There is almost a 31% decrease compared to round 9.MOON bags distribution :Number of people with MOON ranges currentlyAll levels of moon ranges have an increased number of people. More users have plowed their way into the >10,000 group. And. there's also an increase of 158% in 0 to 10 range suggesting more newbies don't have their vaults set up.Price per moon (USD):Well, They are mooning!TL;DR?For round 10,NameValue% Change relative to round 9Moons given per karma point0.51440% DecreaseNumber of vaults13147188% IncreaseAverage moons user earned50.2541% DecreaseAverage moons mods earned954.231% DecreasePrice of moons0.0941 Moon = 1 MoonFor extra details, credits, purpose and other data...head over to the previous post I made,Previous post

Submitted February 25, 2021 at 01:19PM

Dollar Cost Average (DCA) spreadsheet to help with research (mostly for newbies)

I was replying to a comment on another thread about DCA (Dollar Cost Averaging). With the influx of people new to crypto or perhaps even trading for that matter, I decided to share here my perspective. I often use a spreadsheet to mess around with various prices to see various scenarios (DCA, profit/loss, etc.)Each coin I put in it's own tab. This allows me to play around with whatever I've purchased to see if I were to buy in at another price how that would affect my DCA and/or profitability. I try to enter previous transactions as close I can but not so detailed that I need to have 100's of rows. Once I've have past trades (and average costs) calculated. This allows me to enter the current price at bottom of spreadsheet (or using the live price from googlefinance function) and then enter the number of coins I want (or tweak the line to allow me to enter how much I want to spend) and see how it changes my DCA, profit/loss, etc.Then as my first tab I have as a Summary. This pulls in the COUNT and COST for each of the individual tabs and then allows me to mess around with the current price to see how some scenarios may play out. I don't use this one that much honestly. Usually used merely as porn to make me fantasize how rich I could be if something goes crazy.Feel free to check out a sample spreadsheet with some notes and examples on it:https://ift.tt/3kmhrtn I tried to use the google function on some to pull in live prices but others are not available so require you to enter them (or a value you are wanting to see profit/loss for, etc.)I assume I'm not alone in using something like this?

Submitted February 25, 2021 at 06:05AM

Optimistic rollups launching on Ethereum Mainnet in March ahead of schedule: a decetralized scaling solution for thousands of transactions per second which dApps can copy and paste their code into.

https://ift.tt/3aOGXnU

Submitted February 25, 2021 at 07:08AM

Cardano announces new protocol update for 1st March 2021

https://ift.tt/3kn3P15

Submitted February 25, 2021 at 07:24AM

177-Year-Old Swiss Bank Adds Bitcoin, Ethereum Trading

https://ift.tt/3uugQuj

Submitted February 25, 2021 at 03:20AM

Me and my Ether....

Was so excited to buy my 1 Ether at $400.Transferred my .95 Ether into my wallet and watched as the price soared. Figured, hey maybe it's a better idea to keep this into an exchange after all. Never know if I need to sell if the market takes a turn.Transferred my .90 Ether to Binance and watched as the money rolled in, and oh boy, We're in bull season!But then I'm seeing posts about how everyone should keep their crypto off of exchanges! So I figured, eh why not just put it back in my wallet, it'll continue to grow. So I transferred all .80 Ether back in...Now the market is starting to correct, and I'm getting scared. Maybe if I put my Ether back on the exchange, I can get out with some sort of profit. Screw it, I send all .65 Ether back to the exchange.....Okay that's enough, no touching.....But the price is still dropping.... okay, okay, no more looking at the market prices, it'll come back... it'll come back...Shit, Binance is having issues and showing 0 balances to anyone who has money on their exchange. Alright, I'll transfer my .50 Ether to my wallet, and that's it.Hey, the price is starting to pick up again!

Submitted February 25, 2021 at 03:17AM

Daily Discussion - February 25, 2021 (GMT+0)

New Moons Are Ready! (Round 10)

The next distribution of Moons is ready. You can claim your Moons through the Vault in the Reddit mobile app (iOS/Android).Moons are r/CryptoCurrency's form of Community Points, a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community.This distribution is based on karma earned from 2021-01-20 to 2021-02-16. Here is the finalized list, with contribution scores signed by Reddit (users with no signatures yet do not have a registered Vault. They will be able to claim their Moons when they create their Vault through the Reddit app).

Submitted February 25, 2021 at 06:34AM

It's really bizarre that so many people are impressed by the ability to instantly send information across a centralized network... because we've had this capability for decades and there's nothing innovative about it.

For example, sending XRP on Ripple or sending BNB on the Binance Smart Chain.I've seen a lot of comments like, "It's incredible. You press send and half a second later the funds are there. Once you use it, you'll never go back to BTC or ETH."Are you amazed when you send your friend a message on Messenger and a moment later it's there? Because it's really not that different.The entire problem Satoshi set out to solve was how to send information trustlessly across a decentralized network. Computer scientists spent years and years trying to find an answer. But apparently Satoshi could have just created a company called Bitcoin LLC, set up a handful of nodes, and claimed it was decentralized.

Submitted February 25, 2021 at 12:29AM

A Big Thank You to Crypto

My wife and I (like many) have struggled through this pandemic. Neither of us make a lot of money at our jobs (although we both have Master's degrees) due to the nature of our work.My wife's jobs have taken a big hit financially because of the pandemic. This was especially bad towards the beginning of dealing with COVID. I had a small amount of various cryptocurrencies that I had saved up over time and, although I didn't want to sell them, I sold them in order to get us through our bad financial situation.I made enough of a small amount of profit on my crypto to give us a little extra income that allowed us to stay afloat during the early parts of the pandemic.I don't think that we would have made it through if I hadn't sold my crypto and I just wanted to let people know that sometimes you HAVE to sell in order to survive... and that's ok. Food, water, shelter, etc. will always be more important than hanging onto your crypto. You can always accumulate more later.I have many, many moments these days where I wish I would have been able to hang onto the crypto that I purchased (I would've made a tidy profit from them) but then I remember that I didn't really have much of a choice at the time and I'm proud of myself for investing enough money earlier to get us through a bad patch (instead of spending it frivolously on dumb shit).I'm sure that there are many people out there with similar stories to mine. Remember to not invest more than you can lose and try to prepare for difficult financial situations. Have some savings, learn how to live frugally, and DCA in the projects that you believe in...because it might just get you through difficulties that you could've never predicted.

Submitted February 24, 2021 at 11:14PM

What is Staking? : A Guide for beginners

About StakingTo be able to comprehend staking, you first need to know about Proof-of-Stake and Proof-of-Work. Here is a quick summary.⛏ Proof-of-Work (PoW) is a consensus mechanism used to decide which blockchain network users are eligible to create a new block. For an entity to be selected and able to choose the next block, they’ll have to solve a particular mathematical problem.💼 Proof-of-Stake (PoS) is another consensus mechanism to determine which users get to create new blocks on the blockchain. With this method, you don’t need to solve a mathematical problem, and thus, you’ll need less computing power and energy. New block creators are selected by the amount of wealth they’ve locked-up in the network.An often asked question is if PoS is more secure then PoW. Even though every blockchain network is different and has its level of risk, a common chance with a blockchain is the 51% attack; this poses a hypothetical situation in which miners with more than 50% of the computational power of PoW blockchains would permanently own the blockchain. And thus be able to change transactions and have the possibility to double-spend cryptocurrencies. Now, that’s not something anyone would want to happen since this destroys the fundamentals of the blockchain.For PoW systems, for such an attack to occur, miners would need to have more than 50% of computational power (and a lot of hardware), so we could say that this is almost impossible. For a 51% attack to happen on PoS systems, someone would need to own over 50% of all available tokens. With most systems having large market capitalizations in the millions of dollars, we could also say that this is near to impossible. Furthermore, buying assets from a network inflates the price of the token. If you’d to try and buy half a network worth of symbols, it would eventually just become too expensive. Plus, once you’d own most of the network, you don’t have the interest to attack it since your ownership would lose value as well. And so, in this aspect, PoS could be considered more secure.Benefits of StakingSo, why would you stake your crypto assets? Staking cryptocurrencies offers several advantages. First, staking your assets through PoS avoids being diluted by inflation. Nonetheless, the value of your staked tokens can be affected by fluctuations in the currency price.Furthermore, a significant benefit of staking digital assets is that it doesn’t require expensive hardware, which makes it more accessible to a broad public. Thirdly, staking offers a quasi-guaranteed return and a predictable source of income when measured in tokens. Also, it is more environmentally friendly to invest in PoS because it doesn’t require high amounts of energy, like with mining in PoW networks.Risks of StakingAs with any investment, staking cryptocurrencies isn’t risk-free. So, let’s go over the risks involved.First, there is the possibility of Slashing; this means your validator or baker can receive punishment for a fault conducted. This mechanism is designed to discourage abnormal behavior. The second, and probably most crucial risk, is crypto volatility, which means that some cryptocurrencies exposed to rapid and unexpected change. If it’s for the better, these changes can be helpful and very profitable. However, the downside is that it can depreciate the price of your tokens too much, leaving you empty-handed.ConclusionThere are many reasons why it would be attractive to start staking cryptocurrencies. However, before you get started, do your research. It will guarantee that you find the right currencies, wallet, and operator for your needs. Always search for 3rd parties and reviews when researching a cryptocurrency or operator. I hope this guide has made the concept of staking more clear for you, and I wish you happy staking!

Submitted February 25, 2021 at 12:07AM

Dear Janet "Bitcoin is inefficient" Yellen: Right now, due to an outage at the Federal Reserve, the entire central banking remittance system including ACH, Wire, FedCash are all down. This is called "inefficiency".

https://ift.tt/2FIe24c

Submitted February 25, 2021 at 01:26AM

IOTA, Intel & Dell demonstrate first Data Confidence Fabric today (Webinar link)

https://ift.tt/3qWvGry

Submitted February 24, 2021 at 06:58PM

Microstrategy is now the 6th largest holder of Bitcoin in the world!

With the latest buy, MSTR now have 90,531 bitcoin which moves them to 6th place in the bitcoin rich lists. The top 3 wallets are all exchange cold wallets of huobi, binance and bitfinex.MSTR is the early mover in this race, soon many other corporates and institutions will be wanting to join the race as well.https://ift.tt/1zDwn7G

Submitted February 24, 2021 at 08:34PM

To new people, if you see a 2x, 3x etc or buying power written anywhere on the webpage where you're buying, it's a margin trading page and you're playing with borrowed money.

A lot of new people might not know this. Case and point, this post on bitcoin subThis guy went all in with all the money he had, he thought he was just buying btc with his money, he didn't realize it was a margin account with 3x leverage, he didn't even know what margin is. His position got closed out once and he opened another position, still not knowing that he was playing with borrowed money.To put in short and simple terms, what margin is:Margin is literally borrowed money. Let's say you put 1000$ in and it's a margin account with 3x leverage. That means your broker lends you 2000$ and your buying power is 3000$.You buy btc with 3k, btc dips 33.3%, so your 3k has gone down to 2k, the exchange/broker pulls out the 2k by closing your position and you're left with nothing.If you had bought 1k worth of btc, for you to go to nothing, btc has to go down to nothing aka, go down 100%.The higher the leverage (2x, 3x, 10x), the smaller the % dip required to wipe you out.So if you see, words like buying power, margin, leverage or 2x, 3x, etc where you're buying, you've accidentally opened up a margin account, and its not a simple buy, you're opening up a long position with borrowed money.Edit: On binance, currency pairs might be little 5x, 10x, etc written next to them which just simply denotes the max leverage available with those pairs. If you're on binance as long as the top part of page says spot and the buy sell buttons aren't replaced with buy/long & sell/short buttons you're fine. Binance does require you to pass a small quiz to do leverage trading if you accidentally stumble onto the margin page.

Submitted February 24, 2021 at 06:28PM

MicroStrategy Acquires Additional 19,452 Bitcoins for $1.026 Billion

https://ift.tt/3aPwgBv

Submitted February 24, 2021 at 08:05PM

I'm honestly not buying this Billionaire - Bitcoin relationship anymore.

I praised BTC in the past so many times because it introduced me to concepts I never thought about, but this recent news of billionaires joining the party got me thinking. Since when are the people teaming up with those that are the root cause of their problems?Now I know that some names like Elon Musk can be pardoned for one reason or another but seeing Michael Saylor and Mark Cuban talk Bitcoin with the very embodiment of centralization - CZ Binance... I don't like where this is going.Not to mention that we all expected BTC to become peer-to-peer cash, not a store of value for edgy hedge funds... It feels like we are going in the opposite direction when compared to the DeFi space and community-driven projects.As far as I am concerned, the king is dead. The Billionaire Friends & Co are holding him hostage while telling us that everything is completely fine. This is not what I came here for and what I stand for. I still believe decentralization will prevail even if the likes of Binance keep faking transactions on their chains and claiming that the "users" have abandoned ETH.May the Binance brigade have mercy on this post. My body is ready for your rain of downotes and manipulated data presented as facts.

Submitted February 24, 2021 at 06:02PM

Brave Browser Is Building Its Own Decentralized Exchange

https://ift.tt/3byYRdB

Submitted February 24, 2021 at 02:43PM

Comparison: ETH, ADA, DOT, ATOM

Alright so I'm starting this post off because there is a lot of misinformation in our community and lack of understanding of what each one of these (and many other) crypto's are attempting to do and solve with their blockchain technology. Hearing too much of"Drop Ethereum and buy DOT, it solves all the issues Ethereum has."and not enough"Polkadot could be a good thing for Ethereum, might as well load up on both."I will not be providing any advice on what to buy, sell, or hodl in this post but rather exposing the differences between these TYPES of projects and why they do not compete with one another or how they do. These explanations are not super in-depth but I know that many aren't taking the time to actually read the documentation from these projects and hopefully some of this will help give our community a better understanding.Smart Contract Blockchain PlatformEthereum (ETH):Ethereum was the first of it's kind, at least, the first to successfully make a large blockchain platform that successfully deploys and runs smart contracts while also handling millions of transactions a day. (Running a smart contract is also considered a transaction. As of today, Ethereum has managed to put out 1.303 million transactions and there are over 3000 decentralized applications (dApps, https://ift.tt/37I1PLT those transactions in mind, Ethereum has an issue on its hands and you can guess it. Gas. Gas is the method for which the entire blockchain runs. Imagine your car, you need gas to crank it and drive it. Same thing you need gas to send transactions. Why is this? This is due to to the Proof of Work protocol that allows for these transactions to be done. I won't go into the nitty gritty. But basically, you're paying the miners to process your transaction.Cardano (ADA):Cardano is developing a smart contract platform on their blockchain technology. Supposedly it will be more feature-rich than Ethereum. However, the biggest difference between Cardano and Ethereum is that Cardano utilizes a newer concept known as Proof of Stake. Proof of stake basically has members who hold a specific token the ability to stake their tokens into a stake pool so that the representing server of that pool may process transactions and earn rewards. Those rewards are then dispersed to the members staking their funds. (Probably be riddled with attacks but this is how the Tron (TRX) network runs).Literally not much else to be said at this point, until Cardano releases Smart Contracts and their documentation and mission proves friendly enough for developers. We can't speculate whether it's a better platform than Ethereum.With ETH 2.0 expecting to come out next year, there will not be much difference between these two except for how their governance works and how their Proof-of-Stake works. With this in mind, what matters is the community between these two and which platform provides better documentation for the community and big organizations to be able to developer their own decentralized applications on.Internet of BlockchainsPolkadot (DOT)Polkadot's main goal is to utilize a relay chain to coordinate the system and the Parachains. Parachains are the platforms which will be built by other development teams to create their own blockchains ON the DOT platform. For example, if Ethereum were in the development stages of OG Ethereum, then they may have considered developing Ethereum on DOT so that some features were already handled (such as security and communications between other blockchains.)You can not run a Smart Contract on DOT's network. The relay chain was deliberately minimized in functionality so that it could focus on the main components of DOT. However, there are Ethereum competitors known as Ink!, Moonbeam, and Edgeware that will be coming out on the DOT platform as Smart Contract Parachains (blockchains.)Validators are basically servers producing blocks on the Relay chain and they receive staking rewards for producing them.Collators are nodes on both a Parachain and a relay chain, they collect transactions and produce state transition proofs for the validators to accept. Also are the method of communication between blockchains through XCMP (cross-chain message passing)Cosmos (ATOM)Cosmos main focus is Internet of Blockchains but is a tad different in how they want to interact with these blockchains compared to DOT. Seems more like ATOM wants to compete with Smart Contracts by allowing Application-Specific Blockchains. It looks like they are trying to attempt this by allowing developers to develop a blockchain that is customized to operate a single dApp. I don't fully understand how they plan to do this. I'll come back and edit this section in the morning.The main goal of Cosmos however is still to allow developers to create blockchains on top of Tendermint (cosmos default consensus engine) so that they can interoperate with one another. The main difference between DOT and ATOM is that DOT will be more specific about how you can create your blockchain in order for it to operate on the DOT network. ATOM has more freedom for the developer.I'm always welcome to criticism.

Submitted February 24, 2021 at 02:35PM

Binance has stolen Cryptopunks artworks which were created on Ethereum, and are now selling these stolen copies on Binance chain. This is blatant theft of artwork.

Cryptopunks are a series of rare NFTs created by Larvalabs on the Ethereum network, and due to the rare nature they are selling at a great premium to their initial cost.Now Binance has stolen not only the idea, but the whole set of original artworks created on Ethereum by Larvalabs and are selling these on BSC binance smart chain at a fraction of their cost. These are nothing more than FAKES.This has forced Larvalabs to issue a warning:Warning: There is a project called "Binance Punks" that has taken the art from CryptoPunks and is selling it as a copy on another chain. This is in no way an authorized project.I understand the need for low txn costs on BSC, but this is not about low transaction costs. This is straight up fraud and theft of intellectual property.I can understand if the idea is stolen (which is still shady but with open source software and credits given its acceptable) but stealing artwork made by someone else and running this on your chain is a terrible practice.

Submitted February 24, 2021 at 11:22AM

Unpopular Opinion: Moons Are Ruining This Sub

I get it: you want Moons. It’s basically free money for shitposting. I know that even back in 2015 this sub had its fair share of memes and shitposts, but now even the daily is full of wannabe e-comedians. I know, 69 is a funny number. And yes, this is a Wendy’s. And even I choose that guy’s dead wife, but it really, really gets old fast.So why don’t we start by just chuckling at funny posts or even replying with ‘haha’ without upvoting them. We have the power to upvote and reward interesting discussions, well written DD and real crypto news instead of memes, monologues and more memes.Let’s welcome new investors with knowledge, information and discussions that actually improve the cryptosphere. Because in the end, we all want to moon together. 🚀🌖Edit: will donate moons and awards to people who actually contribute to this post by engaging in the discussion.

Submitted February 24, 2021 at 01:30PM

I Used to HATE NANO but not I'm starting to really appreciate having it around.

Call me a hypocrite for realizing it now with all the gas fees, call me whatever , I know I used to knock on it all the time in the past, I called it a shit coin several times over but RaiBlocks really is a helpful useful crypto.I don't own any either so this isn't a shill post. It's more about that it helps us out in rough times. It's fast as FK. It helped me out these past month to avoid $100s in gas fees, and even though I had to pay exchange trading percentiles to get so I can send it back out...I still saved money.Many will say, "we have too many altcoins". But what's going to happen when a time comes 1 billion people own Crypto and everyone is trading alts left and right? Many alts will get overloaded too. Scaling is still an issue. We will need either everyone running nodes for one or two cryptos or we are going to need more alts to handle the load.So I'm done knocking in cryptos like Nano. Truth is, we need to support all cryptos even if we don't own it.Just like moons The more we support alts as a whole , the more it benefits the community as a whole.

Submitted February 24, 2021 at 07:36AM

"If the price is dropping, wouldn't it be smart to buy now?"

My brother called me today and wanted to talk to me about Crypto. He is not a technical person more the complete opposite (Hippie). He knew I am into technology and I was talking about Crypto myself.So today he called me and told me that he'd most likely certain that he wants to invest himself. Not because he believes in the tech as he doesn't understand it, but mostly because he wants to say fuck you to the central banks and gevernments. I told him we all do. So I talked a bit to him and told him the risks and that's it not guaranteed to make him money. He understood everything and said he'll think about it a little bit.Then I told him the current situation and that everything is dropping right now, told him this could go on for longer maybe even years. Without me saying anything he said"But when the price is dropping right now, wouldnt that be a perfect buying opportunity?"And I never was prouder

Submitted February 24, 2021 at 03:42AM

Reminder: trading crypto is as addictive as gambling

There have been many cases of people becoming addicted to investing. They’ve lost huge amounts of money in this way.Trading in stockmarket or crypto is very similar to gambling on sports or sitting at a blackjacktable or behind the slots.Volatile swings make crypto even more dangerous.Everytime you buy some new coins, your brain releases a shot of dopamine.Everytime you see green candles: dopamine.Everytime you check your portfolio: dopamine.Everytime you read cryptorelated words: dopamine.But after a while, your brain needs more intense experiences before releasing the same dose of dopamine.You continue visiting the reddit sub.You continue checking your portfolio 50 times a day.You invest more than you can afford to lose.Your mood fluctuates.Your behavior towards others changes.Before you know, you change.If you are experiencing problems, please take a step back, talk to someone you love or reach out for help if needed.

Submitted February 24, 2021 at 02:05AM

Seven months ago, I left everything I knew for Bitcoin. I saw an opportunity to redefine my life path and work on something that would matter. Today, with a live product of my own and the industry hitting all type of records, I felt it was good time to re-share my story.

https://ift.tt/3r0LdGs

Submitted February 24, 2021 at 06:00AM

Daily Discussion - February 24, 2021 (GMT+0)

SQUARE Buys $170 Million Worth of Bitcoin

Square, Inc. Announces Fourth Quarter and Full Year 2020 Results Square also announced a $170 million purchase in bitcoin as part of its ongoing commitment to the cryptocurrencyFebruary 23, 2021 04:00 PM Eastern Standard Time SAN FRANCISCO--(BUSINESS WIRE)--Square, Inc. (NYSE: SQ) has posted its results for the fourth quarter and full year of 2020 on the Financials section of its Investor Relations website at investors.squareup.com and filed these results with the Securities and Exchange Commission.Square will host a conference call and earnings webcast at 2:00 p.m. Pacific time/5:00 p.m. Eastern time today to discuss these financial results. To register to participate in the conference call, or to listen to the live audio webcast, please visit the Events & Presentations section of Square’s Investor Relations website at investors.squareup.com. A replay will be available on the same website following the call.Square also announced today that it has purchased approximately 3,318 bitcoins at an aggregate purchase price of $170 million. Combined with Square’s previous purchase of $50 million in bitcoin, this represents approximately five percent of Square’s total cash, cash equivalents and marketable securities as of December 31, 2020.Aligned with the company’s purpose, Square believes that cryptocurrency is an instrument of economic empowerment, providing a way for individuals to participate in a global monetary system and secure their own financial future. The investment is part of Square’s ongoing commitment to bitcoin, and the company plans to assess its aggregate investment in bitcoin relative to its other investments on an ongoing basis.

Submitted February 24, 2021 at 04:12AM

Y’all need a hobby

I’m not trying to be mean but y’all are stressing tf out. I know you all wanna go to the Maldives if not the moon but got damn. Why not take a moment to download duolingo? Go the fuck outside, put a seed in the ground, watch it grow, then eat it or smoke it or whatever when it’s done. Find out what kind of free learning programs your library offers.I get that crypto is the future but a lot of other things are the future too. Like urban farming, global infrastructure, and decentralized learning. Don’t just diversify your money investments, think about your time the same way. Before you give yourself a strokeEdit: why am I getting awards? Spend that money on a pack of seeds, or a dollar bin record that you think might have cool samples on it, or a cheap thrift store electronic piano, or a fruit from the Asian store you haven’t tried before instead 🙏Also, some of y’all are looking real salty. I ain’t telling anyone to buy or sell or hodl or anything, do you. Just be healthy. If you stress a lot when you’re young, it’s gonna snowball when you get old. They have charts for that too. Do you wanna spend your moon money on healthcare or a party boat?

Submitted February 23, 2021 at 10:10PM

Cryptocurrency 101: If it can go up 500%, it can also go down 80%

This post is a gentle introduction to new cryptocurrency users about cryptocurrency price swings. Many of you may have brought Bitcoin when it went up above 20000$ or higher. At the time of writing this post, 1 Bitcoin = 46200$.You may have seen your cryptocurrency balance go up 20%, 30% or even 100%. This may have made you interested in buying even more Bitcoin. "It keeps going up and up, I should buy even more to maximize my profits", this is the thought I had when I entered the cryptocurrency market in 2017. You may get similar greedy thoughts in your head.This is a perfectly expected behavior considering all the positive news you have heard recently about Bitcoin. You have heard Elon Musk talk about Bitcoin. You have seen his tweets promoting Bitcoin. You trust him and think that other large billionaires will probably buy more Bitcoin, which will send it to 100k by July!!!You may have seen BitBoy and other youtubers say Ethereum is going to 2500$, Bitcoin to 75K or 80K or even 250K!!! To be honest, I was exactly like you on January 2018. I was really hyped about this, though I was smart enough to sell my Ethereum at 1200$ which was my largest holding. I than brought some stupid useless altcoins and you may have done the same recently after selling some of your Bitcoin to buy other smallar coins.But you need to understand that something that can go up 40% a day can also dump 40% a day. Let me give you and example with the price of petrol or gasoline. You may have observed that the price of gasoline doesn't always stay the same. Sometimes it goes up, sometimes it goes down. But the price generally doesn't fluctuate too much.Here, cryptocurrencies also work exactly in a similar way. Though the price swing is much higher because crypto trades 24 hours a day, 7 days a week. Because it can be transferred instantly, it has a higher price volatility.So, if you think it can only go up, you are naïve. Higher price volatility means that when it goes up, it goes up really high, but when it goes down, it goes down really high as well.One strategy to protect yourself against such price movements is to average your costs. That is instead of buying crypto at once, you split that into 12 (for example) chunks and buy every month. If you check the price of Bitcoin for the last 12 months, you will realize that if you brought BTC this way, your average price per Bitcoin would be around 15000$ - 20000$ (I didn't do the exact math).Hence, now that BTC is 46k, you are up over 240%. This is a much safer strategy for new investors. Also, Bitcoin in 2018, went up to 19k and then went down to around 4k, which is about a dump of 80%.So, it wouldn't be impossible for it to go down back to 10k by going down 80%. I am writing this because I don't want you to make the same mistakes I made though you will still make some mistakes and loss money xD, I know it. After losing a lot of money did I learn to manage my risks. I hope you have a much better experience with your crypto journey.And enjoy the memes and the fun community around here.

Submitted February 23, 2021 at 08:01PM

20% dip? 🤷‍♂️ Looks pretty normal to me.

It's April 2011, I am mining on some number of Radeon 5850s making around 1.1 BTC each day. The price is crossing $2.It's May 2011, I am mining on some number of Radeon 5850s, doubled. Mining difficulty is climbing quickly, and so is the price. We're almost at $10 by the end of the month and I'm still making around 1 BTC per day, somehow managing to stay on par with the difficulty as I buy more graphics cards.It's early June, and as I am powering on even more GPUs, the price hits roughly $32 before halving over that weekend.November 2011, we reach $2 after several months of everyone declaring it dead. I am on something like 8 5850s now, probably still making around 1BTC, maybe a bit less, it's difficult to remember after 10 years. After the monstrous crash of about $30, things begin to pick up by the end of the year and we enter 2012 at about $5.We crash from $7 to $4 between January and February, then from $13 to $8 over one weekend in August. It's dead, each time.It's 2013 and things are batshit insane. We have some minor 10% drops through the year but everyone is buying. Everyone is mining. I heat my new rental property with Radeon 7990s and only heat the house with graphics cards during the entire winter from 2012-2013. About 11 steps up the stairs, you go from freezing cold to being blasted with heat, like when you exit the plane into Spain.By April we all lose our shit and people are buying bitcoin for $100. By the 9th they are paying $200 and within a week decide that $70 is more reasonable - a 66% drop in a week. Of course, people can't make up their minds whether Bitcoin is a scam or if it's the future of humanity, so the price goes haywire and we see regular gains and drops of 10/20/30%.It's November 2013. Bitcoin is not a scam. Clearly, because it's now worth $200. Or is it worth $650? No, it's worth $550. Now it's $700. Nope, $1,100. Now it's $950.Now it's December and it's $1,100 again. But what the hell is going on, MtGox won't let me log in despite me not sleeping and spending the last 15 hours through the night trying. Now I'm late for work and I've lost 20% of my money, even though I've actually gained 1000% this year, I'm only bothered about losing 20% of what I had a day ago, just like literally everyone else.It's 2014. It's also most of 2015. The entirety of both years. Bitcoin is dead. Never coming back. We're down to $200. Mining still makes me the same $2-3/day that it ever has, even though the 1BTC/day from 2011 is now worth $200+/day. I give up. Everyone else gives up after buying these new things called shitcoins. I forget, not bothering to sell what I had left as it's barely enough to buy a small used car.It's 2016 and apparently Bitcoin has tripled since I last looked at it. What. You what. What. Everyone now wants Ethereums. It's like Bitcoin, but it'll fit on my hard drive. Everyone's shitcoins have disappeared. The however many thousands of Doggo coins I mined before I quit have disappeared along with the exchange. Ethereums are bringing out these new shitcoins that actually do something, like Golem, which is like Seti@home but will eventually literally do everything and generate an income for you. Great! Ethereum shitcoins are not called shitcoins. The world of cryptocurrency is very different to how i remember it. I swap half my BTC for ETH and then 80% of that for various tokens.It's 2017. Nothing bad is happening. Everyone is investing in ICOs for non-shitcoins. Everyone's making $2k/day just trading. Everyone's also making $500-2k/day just holding. Everyone has bitcoin and ether, as well as a tonne of ERC-20 tokens. Some people also have Bitconnect which seems very much like the HYIPs I used to join during my PTC/PTS days as a teenager. Seems like a scam, no good. Ethereum has several 20-30% drops throughout the year. Seems normal, I'm no longer phased after 2013. Everyone in my office is interested. They all discuss it at $10, but ask me about investing $15k when the price hits $300. Finally, they enter at $600 and no one does any work for the rest of the year. We just talk crypto.It's the second half of 2017. I make more on crypto in one day than at my day job in a month. Literally everything is going up. No one considers that it'll ever drop again. I'm like: "🤷‍♂️ Looks pretty normal to me, but I better sell some soon else.."...Actually, it's January to April 2018. New York bonuses or Chinese New year or some seemingly random event makes everyone sell literally everything. Everyone had put all their bitcoin into ether, and then all their ether into ICOs. What was once 25BTC was now 400,000,000 various ERC-20 tokens, or kittens, worth around $200. Not only did everyone sell their tokens, causing them to crash, but everyone sold everything else, making everything else crash. Crashception. Every second word on reddit is "crash".Ether went from $1,200 to $75 in a year or so. Declared dead by everyone.It's 2018-2020. I'm like, well, not sure. Probably will repeat the cycle of dips, moons and crashes, but probably should have sold. How many Deloreans could I have bought? Better not check my "How many Deloreans I can afford if I traded all of my cryptos for deloreans.xlsx" spreadsheet. My heart and soul must be dead. I have felt no emotion or regret during the crash. 2013 had used up all of that. All of my colleagues are bored and stop talking about crypto. Despite what they said, they weren't interested in the tech, only the money. One buys a folding phone for $1,500 with what was once $10k of Galaxy Ripple chocolate bars, I think. I buy more Ether, deciding to not exchange any for other tokens. From now on, only BTC and ETH for me. I buy some occasionally, but not as much as I should. I pretty much leave crypto will the expectation that we'll just repeat it all again in a few years.It's 2021, things are batshit insane again. Already?Woopdedoo. Everyone's talking to me about crypto. Fgs. I just decided to try the real stock market where people cry over a 3% crash. Everyone is jumping back in. What is defi and nft? Are cryptokitties nft? Is my kitty still alive? Who knows. Give it 5 years and there'll be a yet another new equivalent to shitcoins.Bitcoin drops by $10k in January, I'm like, meh. I play with Coinbase Earn and shortly make a mint.It's the present: Bitcoin drops another 10k in February, even though it's still higher than the last drop. I'm like, meh. Everyone panics. For some reason I decide to write a 20 word reddit post and it turns into whatever the hell I'm writing now for whatever point I'm trying to make. Something about not declaring it dead over a $10k drop when we're still up by $20k this year.It's mid 2021. Bitconnect is back and they want your doge. Bitcoin hits $80k but crashes by 20% down to $64k. The world is on fire and shit is hitting the CPU fan. It crashes by another $5k before hitting $85k. Ether was $4k but now deemed dead because it's only $2k. Soon it'll be $5k. Elon tweeted about doge being the national currency of Mars. It's a joke, but now doge is $42 and I remember that old exchange that vanished with probably $420,000,000 worth of my doge, and 50 LTC. Twelve seconds later it's back to $0.10. Everyone is mad because it is now only worth double of what it was worth yesterday, even though it is down from ,12 seconds ago.It's every other year from now until the end of eternity.. Everything crashed by 50% overnight. Now it costs me 250 satoshis or less for my latte. Ether is $126 or something and no one knows what is happening anymore. The price went so high because 10 billion people on Earth use it daily, either directly or because their car automatically pays for tolls on the Ethereum network with that project from Oaken Innovations that hasn't been updated in years, that now no exchange can display it correctly or something. Everyone is now an NZT or NFT or POS or some other acronym. While I'm working, my phone earns me 0.2 GLM, my fridge earns me 4 MYST, my washing machine earns me a few E-DOGE, all while I process medical simulations and allow some family in China to access wikipedia without their government seeing. My family on Mars send me some DOGE to keep me afloat. Ripple is still being investigated by the SEC while their owners siphon another $100m each year. The price of all cryptos goes 10x every other year but it's all dead when it drops 10-20%.It's the end of this post. I've no idea what's going on. Has the crash reverted in the time that I've written this? How many Deloreans worth of crypto have I lost today? How many Deloreans worth of crypto have I gained since the start of the year? I look at the price of literally every crypto and see a 10% drop after an unlimited % gain since inception and several hundred percent just this year or so.Its the end of the end of this post. I consider how to end it, but instead have two endings. Things don't make sense. I consider changing the title to reflect my original intention of pointing out how a 10-20% drop is pretty much to be expected with crypto and that by looking at the bigger picture, you won't even see this dip on a chart next year. Instead, I do whatever I am doing now. I give up and decide to post this so I can use the reddit app to check if anyone has posted anything meaningful about NuCypher, even though I expect the usual pump posts.

Submitted February 24, 2021 at 02:10AM