Tesla is the 8th biggest company by market cap in the S&P500. I'm not sure the price they bought it at but Tesla bought $1.5 billion worth of Bitcoin in January. Bitcoin was in the $40k range so let's say $45k, that's 33,333 Bitcoins Tesla owns. Tesla has 959,846,091 shares so that's 0.00003472744 BTC per share. About $2 worth of Bitcoin out of $667 share price.
Submitted April 01, 2021 at 09:40AM
⚠️ Major Crypto Adoption: Venezuela Has Replaced Their National Currency with Bitcoin
https://ift.tt/3cC4slc
Submitted April 01, 2021 at 07:42AM
Submitted April 01, 2021 at 07:42AM
Now that Goldman and other financial insiders are here. Remember, they will do ANYTHING to start separating you from your bitcoin.
Look at how gme has been handled by Melvin and citadel. So much shady shit going on in the background and now these big dawgs are here to play. Expect the same sort of shit. Remember the likes of this crew cooked up 2008.It’s a finite resource and they want it. They will start pulling dodgy shit like we have never seen. It’s that simple. They aim is to accumulate and the best way they know how is dunking the fuck out of retail.Hodl strong people, Goldman Sachs wants your bitcoin.
Submitted April 01, 2021 at 05:54AM
Submitted April 01, 2021 at 05:54AM
I just bought my first $25 in Bitcoin
I keep thinking "damn, I should have bought bitcoin when it back then" or "I should have bought it when it was at X" so I decided just to go for it. From now on if I feel like spending my money on something stupid, I'm buying crypto instead. I'm thinking 60/40 BTC and ETH
Submitted April 01, 2021 at 06:52AM
Submitted April 01, 2021 at 06:52AM
Binance is blocking ADA withdrawals towards the end of each 5-day 'epoch' (staking reward cycle)
I haven't experienced this myself, but people are talking about having ADA withdrawals blocked towards the end of the epoch. Binance is motivated to do this because a 'snapshot' of staking wallet balances is taken at the end of the epoch, and staking rewards are calculated based on that. This is highly unethical however , because it means Binance is staking other people's ADA, collecting those staking rewards, and making the ADA unavailable to the owners when it suits them. Supposedly the hold on withdrawals can be as long as a full day before the end of the epoch, but typically happens at least an hour before the end of the epoch.I think this shows a very blatant disrespect for their users' crypto which they're supposedly holding in custody (I know, NYK NYC), and the greater crypto community should be aware of this
Submitted April 01, 2021 at 04:43AM
Submitted April 01, 2021 at 04:43AM
Cryptocurrency and the Psychology of Uncertainty
Ok so before I entered into Crypto I played poker at a fairly high level. Poker, like crypto is easy to the untrained eye and every man and their dog thinks they are one hop away from winning the World Series or in our case being the DeepFuckingValue of the crypto space. To outsiders it seems really simple, get good cards/well known coins and rake in the profits.Are we gamblers? You and I, we hold different coins and we hold different perspectives on value and on life. We get judged by others outside the cryptosphere for taking outlandish risk, where they respect the stockbroker in his pinstripe suit for doing a very similar thing with similar information.But crypto like in poker you can win with the worst hand (Uniswap kitchenbakeswap2.0 coin) or lose with the best hand (BTC) - and that comes down to judgment, timing and experience. Skills that a day 1 player/trader would not have in their repertoire. So I argue that due to this, crypto is a skilled endeavour rather than a gambling one.I believe that not everyone is cut out for crypto and the swings it can bring. Not everyone can handle seeing $20k disappear while they sleep. Not everyone can handle not selling fully when their investment goes up 15%. You need to be a fighter, hungry for profit whilst balancing risk with a sense of calm and applying logic at all times. Luckily when I wake up to see my Portfolio has dropped by 24% overnight I can swear and release my emotions which was not possible when bluffing or going all in at a poker table and keeping my poker face for hours upon end.Something I have found in my life is that betting on uncertainty is not only enjoyable but it’s also the best way of understanding it. Sitting on the sidelines doesn’t provide the same level of engagement or learning. Understanding uncertainty allows you to see with clarity the pitfalls of the human brain, the emotions involved and where we can trip up. Let me explain.When something is 99% sure of happening - in our minds it’s seen more often than not of being 100%. It is a misplaced faith in certainty - this is at the crux of crypto investing. How sure are you that you hold the best coins? How sure are you that they will go up in value? When you’ve watched a coin rise consistently over the last 99 days and 25 of your friends have invested and keep telling you how much they are making - well it’s easy to fall into the trap of assuming you will follow in their footsteps and the trend will continue.To be consistently achieving well in this game you need to be paying attention. Crypto forces you to question your thought process, forces you to often recalibrate and rethink your strategy. If you follow emotions rather than logic through research then long term you are probably going to be losing a lot of profit or potentially turning a loss. Sure you might hit the odd moonshot or two but that’s not sustainable. Then there is the battle between betting with your hard earned $ on your own opinions and judging someone else for theirs. One of the most refreshing aspects of trading is that you aren’t going to get kicked out the market for choosing an investment strategy that goes counter to the masses or the Bitboy crypto style YouTube professors of wisdom. The only thing that talks is the profit.One final point I wish to make is that while I played poker it was a very strange dynamic at the table. You sat down and you went to war. You could chat and be friendly but ultimately you weren’t there to make friends, you were there to accumulate as many chips off the other people at the table as possible. You would say things like “Good luck” or “Nice Hand” which were veiled ways of saying “I wish myself all the luck and I want your chips” and “Why would you play those cards in that way?! That was stupid you maniac”.. the funny thing is with crypto is that there are winners and losers but it’s on such a distanced inconceivable level. You only hear of people losing and winning in crypto, you aren’t sat 5 feet from them. So I feel and this is genuine, that I wish everyone success. I know that is not possible, but I absolutely do wish that (unless you are a terrible person 😅). So when I see gain porn I don’t get jealous, salty or angry. I feel happy for that person. That wasn’t the case when I lost a $500 pot in poker to the guy sat opposite me 😂Let me know if you found this insightful or interesting. Would love to hear how you react to seeing others on Reddit posting of their gains and losses, the humble brags and the not so humble brags.Good luck in the crypto markets guys and we can all prosper and get some nice big gains in 2021. 🤑🚀
Submitted April 01, 2021 at 02:43AM
Submitted April 01, 2021 at 02:43AM
Daily Discussion - April 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 🌔List of MOON proposals that have been implementedrCryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily DiscussionsMonthly Skeptics Discussion thread
Submitted April 01, 2021 at 07:00AM
Submitted April 01, 2021 at 07:00AM
Snoop Dogg Announces the Release of His First NFT Collection: “A Journey with the Dogg”
https://ift.tt/2PLknEG
Submitted April 01, 2021 at 03:41AM
Submitted April 01, 2021 at 03:41AM
If you care about privacy, don't use Brave
I assume this is going to be down voted by BAT holders but it needs to be said. Stop shilling this browser as a privacy tool just because you're invested in BAT. It likes to pretend to be privacy focused, and sure, it has privacy features other browsers don't, BUT if you actually care about privacy this is not the solution and is just a marketing gimmick.People deserve the other side of the argument and not be led into something under false pretense because you're set to gain from it.Just to scratch the surface, some of the cons:It's Chromium, it is dependent on Chrome. If you care even the slightest about privacy you should avoid anything Google as much as possible. Don't contribute to the Google monopoly and their mission to control the web and its users.Deceptive practices. They literally injected their own affiliate links into your searches. Typed in Binance.us to your browser? Well, they just added their affiliate link to it because you are an unwilling product. This was as recent as last year. SourceThey claim to block ads but they're actually making deals with Facebook, etc to whitelist their trackers and ads. SourceBrave is an Ad company. You're a product.Leaks all your .onion URLs. SourceCEO is homophobic and a Covid denier, etc.If you're looking for a privacy focused browser, research Firefox and the various privacy focused extensions available.If you want to make some free BAT, use Brave for porn only or something that doesn't expose you.
Submitted April 01, 2021 at 01:18AM
Submitted April 01, 2021 at 01:18AM
For any 4 year period in history, Bitcoin has had a return on investment of at least 900%
4 year bitcoin return on investment (Price as multiple of 4 year earlier price) -start date of spring 2015 chartData earlier than 2015 is omitted because it includes returns over 100000x. The 2017 peak was only a 20x return over 2013 peak that occurred around the same date. There were higher 4 year returns earlier in 2017. March 28,2021 has a 4 year return of 60x. The 2 occasions where the 4 year return on bitcoin was "only" 10x/900%, were short lived, and precipitated strong/steep rallies. These returns exclude dividend/airdrop/forks.x axis is days since August 19,2010 with column ticks in 365 day increments.More details/research/charts: https://ift.tt/3dqmlmb
Submitted March 31, 2021 at 08:58PM
Submitted March 31, 2021 at 08:58PM
Ethereum Berlin upgrade scheduled at block 12 244 000, expected deployment date April 14th.
https://ift.tt/3t0yxA8
Submitted March 31, 2021 at 10:41PM
Submitted March 31, 2021 at 10:41PM
The Ethereum Value Proposition: Store of Value Edition
In the same vein as last week's post regarding the overall value proposition behind Ethereum, this is an easy to understand noob- friendly follow-up focusing specifically on the scarcity and therefore store of value that is coming and is now being created on Ethereum. .Locked up ETH The total supply of ETH is about 115 million ETH in circulation. Currently the issuance rate (new ETH being created) is about 4% or so a year (so about 4.6 million ETH give or take).Per DefiPulse, the top 20 Dapps are currently locking up 11.2 million ETHPer Ethereumprice.org, 3.62 million ETH is already locked up in staking.Grayscale Trusts also currently hold 3.17 million ETH total. (calculated from their total ETHE shares outstanding x 0.01023339 ETH per share)Between these 3 sources alone we currently have about 17.91 million ETH locked up or 15.5% of the total supply that is virtually locked up and effectively removed from circulation.In layman's terms that means about 1 out of every 6 ETH is locked up and not for saleProjections for ETH Lock up Growth The amount of ETH locked is only going to continue to grow, and here's why:DEFI a year ago had less than $200 million TOTAL locked up across all dapps. Today? It has over 43 billion and growing. Thats over a 215x increase in a year (taking into account the $ increase in ETH in the past year we are looking at over a 20x in the amount of ETH locked up in DEFI). As Ethereum scales in the next few months, it will become cheaper and easier for regular people to lock up their ETH and interact more with dapps so expect this 43 billion to grow a lot more. If in the last year DEFI did over a 20x in TVL (total value locked up), expecting a 2-3x in a year from the current levels would be reasonably conservative in my opinion.What this means is, we could could see anywhere from 22-33 Million ETH locked up in the next year or 19 to 29% of the total supply locked up in DEFI alone..Staking And then there is staking. To keep it short and sweet, currently the vast majority of stakers are people that have the technical knowledge/savviness to boot up their own nodes and maintain the hardware 24/7, and that number is currently sitting around 3.62 million.Once Coinbase launches ETH 2 support (they already added the coin to their dashboard last week signaling it may be coming very soon) since Coinbase has the largest userbase for crypto, we could very easily see millions more ETH being staked in the coming months once their waitlist is live. Rocketpool is also in its final testnet and will allow people to stake just as easily as coinbase but in a decentralized way, which will be an industry first. When these 2 options go live, because in the eyes of many it will be as easy as the click of a button to get "passive income", I could easily see the 3.62 million figure double to over 7 million ETH staked.That means conservatively over 6% of the total supply could be locked up in the coming months once Coinbase and Rocketpool are liveI am not going to speculate on the specifics of whether Grayscale's trust will grow or not, but I assume as we see growing interest across all of crypto, their fund or others like it will likely see a growing demand for ETH also.**So if you are keeping track, taking into account the growth in DEFI, Staking, and the current levels of Grayscale, we could be looking at 32-43 Million ETH locked up in the next year.On average, that would mean about 1 in 3 ETH would be locked up and not for sale in one year's time(43+32)/2 =37.5/115 = 32.6% ETH lockedEIP 1559 and the ETH Burn Rate EIP 1559 is going to burn the BASE FEE of every ETH transaction effectively putting deflationary pressure on the supply of ETH.ETH's daily transactions for 3/29/21 per Etherscan were about 1.27 Million.Bitcoin's daily transactions for the same day were about 307,000.That means that ETH is now processing 4x the amount of daily transactions as BitcoinAs these transactions grow so will the amount of ETH being burned once EIP 1559 is implemented in July.Noone knows exactly how much the BASE FEE will be that will be burned, but per Vitalik's tweet on sept 15 2019:"Or if EIP 1559 is implemented the bulk of the txfees get burned directly”Since it is now being implemented, we can assume conservatively that when he says the "bulk" of the transaction fees will be burned that that means at least 51%.Some simple math can help us estimate the amount of ETH that will be burned:Per Etherscan 03/29/21 stats:Average Transaction Fee: $17.01Total Transactions: 1,269,901Total Transaction Fees on 03/29/21: $21,601,016.01.Assuming 51% of that total would be burned : 51% x 21.6M = ~$11 Million burned daily or @ETH at 1840 about 6,000 ETH would be burned daily.The current rate of ETH being produced daily is about 14,000 so that means we would cut the net issuance of ETH roughly by HALF in a short time AKA by this calculation EIP 1559 would be an instant halvening for Ethereum .Full Proof of Stake And then there's the icing on the cake. On the recent Ethereum Dev Calls, the devs have said they want to expedite the Merge to full POS and it may come as early as this fall.That means ETH will be full proof of stake with no miners and at that point ETH issuance would be under 1% annually.That means if you combine EIP 1559's burn rate, and the move to POS, ETH issuance will be near 0 or deflationaryThis stance has also been corroborated by others such as Eric @econoar in a Sept 24 2019 tweet where he says after EIP 1559 and POS "the network would be operating securely at near 0 issuance"This is the real diamond in the rough that is not being factored in.What this means is that once POS is live, and EIP 1559 is live, ETH will have lower inflation than BitcoinETH will also have many more use cases and utility compared to BitcoinSo what happens when you have a highly scarce asset that is also highly useful?It doesnt take an Elon Musk to figure that one out.....I could go on with more reasons but you get it.... ETH has a very likely and strong chance to become very scarce very quicklySo why am I telling you all this? Well Im glad you asked. Because if you liked the content for a limited time, if you are one of the first 100 users, I am selling a.........no..I am telling you this because I believe in the Ethereum ecosystem and the decentralized future and as a young professional, I believe it is one of the most valuable opportunities in my lifetime. Thats it. Dont like it and want to call me a scammer or shill for some reason? Send a letter to my imaginary HR department. Otherwise, agree or disagree I dont care.At the end of the day, like I said before, do whatever you want.Hope this helps those of you who are just now learning about the space and seeing what crypto and Ethereum is all about.Good luck and may the gains be with you.
Submitted March 31, 2021 at 11:54PM
Submitted March 31, 2021 at 11:54PM
Gold drops: "Healthy correction!" Stocks drop: "Buying opportunity!" Crypto drops: "Told ya it was a scam!"
Can somebody please tell me why even some of my friends with economics degrees claim that whenever the cryptocurrency market drops 10-15%, it is all a big scam?How about gold, or stocks?People feared cars, people feared electricity, now they fear crypto.
Submitted March 31, 2021 at 10:43PM
Submitted March 31, 2021 at 10:43PM
NYT: If You Care About Privacy, It’s Time to Try a New Web Browser | Brave
https://ift.tt/3djTmR0
Submitted March 31, 2021 at 09:59PM
Submitted March 31, 2021 at 09:59PM
Quipuswap (Tezos) massive new defi released today
/r/tezos/comments/mh6n5s/tezos_pulling_away_with_pos_defi/
Submitted March 31, 2021 at 09:26PM
Submitted March 31, 2021 at 09:26PM
CNBC Just in: Goldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients
https://ift.tt/2PLcxLq
Submitted March 31, 2021 at 07:09PM
Submitted March 31, 2021 at 07:09PM
100% BTC: Sometimes I am only a few clicks away from converting all my altcoins into Bitcoin and just stop looking. Are there others who feel the same way from time to time?
First I want to make clear that I dont think that crypto will be a "winner takes all scenario". So I think that in the future, there will be still many projects around. However, from time to time I contemplate to just convert everything into Bitcoin and just let it ride.I feel like that BTC is one of the most likely cryptocurrencies to be around in the future, because of its history, market cap and adoption as "store of value" from companies. On the other side, it probably wont see a 100x in the next 10 years like maybe some very few altcoins could see. But I dont really know.However, at least to me, it really seems hard to estimate which altcoins are good and have potential. Of course there are obvious cases where you know to stay away from them. But I noticed that my mind often wonders if I put the part of my portfolio, dedicated to altcoins, into the "right" altcoins. Also staying up to date with the development progress in a number of altcoins feels sometimes like a hassle to me.I know that there are good basic portfolios rules about allocation of BTC/ETH and altcoins like 80%/20% or 50%/30%/20%, however does anybody else have the idea to go 100% BTC from time to time?
Submitted March 31, 2021 at 04:19PM
Submitted March 31, 2021 at 04:19PM
Owning Crypto on PayPal is No Better than on Robinhood
Look, the PayPal news is really good. PayPal is huge and has the opportunity to bring crypto to people who would have never considered it. PayPal can be used on most sites as a purchasing option. This brings us more adoption. It doesn't come without it's flaws though.Here's one problem, custodial ownership. Custodial ownership is awful. It gives you no control. You must have direct ownership of your coins if you want to safeguard your assets. The old adage, not your keys, not your coins comes into play. If the big bad government decides they don't like you, such as India or Nigeria, you're screwed if you don't have full control.The companies that offer custodial ownership have a very low barrier to entry. This is what makes them appealing. You don't need to be verified. I have someone at work who has purchased BTC out of ease compared to when he tried to deal with the exchanges. I get it, you want to be able to have a chunk of the pie without jumping through all the hoops. Although having a halt on PayPal would be extremely unlikely, I don't want anything to ever happen like what Robinhood did to GME and other stocks.Another problem, especially in the US, is taxes. I will never be spending my crypto on small day-to-day items until the tax laws change in this country. If I have to pay capital gains and then sales tax, the item I might be purchasing could be worth less than the taxes. It's rare, but possible. Unfortunately, I don't see this changing anytime soon.PayPal news is huge and really good. Baby steps will put us in the right direction. Big institutions and major retail players will continue us in the right direction. We can't expect full adoption overnight. We need to curb our expectations a little bit. It has taken over 10 years to get this point. In 10 years time I expect adoption to be much further along. That being said, crypto veterans or anyone with a substantial amount of money invested, should consider a wallet and getting control over your coins. Not your keys, not your coins. Avoid custodial ownership!
Submitted March 31, 2021 at 02:51PM
Submitted March 31, 2021 at 02:51PM
DeFi explained: Wrapped Bitcoin
You might have come across the term “wrapped Bitcoin” in the DeFi space. How is it possible that (wrapped) Bitcoin is available on Ethereum, even though Bitcoin is on another block chain? And why would you use wrapped Bitcoins in the first place? In this post I’ll try to answer these questions.Wrapped bitcoin explainedWrapped Bitcoin (WBTC) is an ERC-20 token, linked to bitcoin 1:1, launched on the Ethereum network on January 31th, 2020. As a result, bitcoin can be used in the largely Ethereum-powered DeFi market.How wrapped Bitcoin worksThere are three main players in the process of obtaining WBTC: the user, the merchant, and the custodian.To exchange Bitcoin for Wrapped Bitcoin, a user submits a request to a WBTC merchant. Traders distribute WBTC in exchange for bitcoin - or vice versa. They have also included a KYC step in the process. The traders act as an intermediary between the user and the custodians, who form the network's liquidity pool.When the trader submits the transaction request to the custodian, the custodian chooses to allow or deny the request for WBTC. The minting and burning is done through an exchange, directly between the merchant and the custodian.The process starts when a merchant submits a coin request through an Ethereum smart contract while sending Bitcoin to the custodian. At that point, the custodian waits for confirmation on the Bitcoin block chain, approves the request on the Ethereum network, and releases the WBTC to the merchant.In order for the user to get their tokens, they must enter into a trusted exchange with the merchant. Once the user has his WBTC, his Bitcoin is essentially "wrapped" in an Ethereum wrapper. Hence the name "Wrapped Bitcoin."How wrapped Bitcoin benefits the DeFi spaceLiquidity is the foundation of all finance. Lenders have no value without money to borrow. In addition, limited liquidity could kill a fast-growing financial movement. If investors rushed to DeFi and encountered one platform after another that didn't have enough liquidity, DeFi would quickly be slapped with crippling labels like 'unsustainable' and others by DeFi doubters.Since the Bitcoin and Ethereum blockchain don't go well together, and DeFi is largely powered by Ethereum, there has been a thick brick wall between DeFi and Bitcoin investors. Wrapped Bitcoin is a sledgehammer trying to tear down that wall. If investors keep accumulating via this way, a flood of liquidity can flush into the DeFi space.How to add WBTC to your portfolioInvestors can go through the "wrapping" process with a trader, or they can buy WBTC on one of the several DeFi exchanges such as Uniswap. WBTC follows the price of BTC. Once obtained, you can use it to invest in DeFi protocols.WBTC Wrapping FeesAs with most financial services, wrapping BTC comes at a cost. These are the fees you must pay to the following entities:Custody fee. These are collected by the custodian when the trader chooses to mint or burn wrapped tokens.Merchant Fees. The merchant takes a fee from the user as payment to help him convert his BTC into WBTC.Sidechain transaction fees. To help prevent spam on the sidechain, there is a fee shared by all entities using a sidechain node.Other types of BTCAlthough WBTC might publicly be the most known of BTC tokens, there are a few other ones which I would like to elaborate on:renBTC: REN works via a smart contract on Ethereum and a HTLC transaction on Bitcoin. When engaging with this smart contract, a balance blocking operation in BTC and the minting of RenBTC on Ethereum is carried out, and all in a decentralized way, without intermediaries.tBTC: A user can obtain tBTC by depositing BTC into a wallet through the tBTC Dapp within the Bitcoin blockchain. The custody method performed by a decentralized pool of custodians who each have to supply a collateral in Ether.sBTC: Created by Synthetix, It provides access to the value of Bitcoin without the friction of owning a Bitcoin wallet or holding it. This allows Ethereum users to gain non-custodial exposure to Bitcoin, which means they don’t need to trust an institution or protocol to hold the underlying asset. This also enables it to be used within the Ethereum ecosystem, for such purposes as trading or any one of the many others available on the blockchain.Final wordsWrapped Bitcoin, as well as the other variants, may be just what DeFi needs. Since it is linked to BTC and users can obtain it through a fairly simple process, it can rise. As bitcoin players, big or small, increasingly move to WBTC, renBTC, tBTC and sBTC, the liquidity boost can help DeFi soar to new heights.For investors, this offers a new way to earn interest on bitcoin holdings by depositing the token in yield farming DeFi protocols.Do you know what Oracles are? Find out in my previous post.
Submitted March 31, 2021 at 04:52PM
Submitted March 31, 2021 at 04:52PM
I recently shared with you a bot I coded that buys Bitcoin when Elon Musk tweets about it, and your response got it featured on Decrypt. You guys made me want to release an official application for it
Firstly I want to thank you all for the overwhelmingly positive response for my project, I am really humbled and grateful to be part of this community, you guys are awesome!I am happy that the project inspired some of you to look for new and creative ways to make use of all the technologies available to us today and to improve of existing strategies. Many of you suggested some really good improvements to the bot and I am currently writing all the suggestions down in a plan to potentially release this as an application.Here is a quick breakdown of what the bot does:It buys bitcoin if Elon talks positively about bitcoin on twitterIt stops the loss at 5% and takes profit at 10%And here are potential improvements based on your feedback:The bot should be able to work with multiple coins and keywordsThe bot should be able to follow multiple Twitter handles and ideally other websites tooThe bot should tweet the rocket emoji whenever it places a trade 🚀It should be user-configurable and ideally come with an easy to navigate user interface.The bot ideally analyses the weight of the influence on the crypto market for each influencer chosenYour input made motivated me to release an official application for this project, and if you're comfortable with coding and would like to contribute drop me a message if you would like to collaborate on it!If you have ideas on how the bot can improved leave them in the comments!Here is the decrypt link: https://ift.tt/3dpVoik link to the official guide: https://ift.tt/3rE0VqO GitHub Repo: https://ift.tt/3cYFQlC
Submitted March 31, 2021 at 06:18PM
Submitted March 31, 2021 at 06:18PM
Increasing popularity of cryptocurrencies and advances in space travel (SpaceX, Blue Origin, Virgin Galactic, etc.) make me feel like I'm in the 1st chapter of a science fiction series.
It's interesting that both are starting to happen at the same time. I wouldn't be surprised if one day there's a time when people budget for their trip to Mars using "credits" (a nod to whatever becomes the prominent currency of the future), over using USD or another fiat currency. I could be wrong, but nation states, institutions, fiat currencies, etc. will look much stranger than now as space travel accelerates in the next 2 centuries.
Submitted March 31, 2021 at 08:04AM
Submitted March 31, 2021 at 08:04AM
One Bitcoin Will Be Worth a Lamborghini by Year End: Kraken CEO
https://ift.tt/2PcF0dd
Submitted March 31, 2021 at 07:14AM
Submitted March 31, 2021 at 07:14AM
I stopped reading whitepapers. Not because I'm a lazy noob, but because I'm humble enough to recognize I won't be able to understand a lot of what they say.
Probably gonna get downvoted to oblivion, so you could consider this reverse moon farming. Anyways, before anybody discredits me, I am studying Computer Science and have been able to land some nice internships, so yes, I admit that I'm not an expert and there are many things I don't know, however I would consider myself someone that has been exposed to basic Computer Science concepts, and more advanced ones in Algorithms, Data Structures and Cryptography.With that out of the way, I just wanted to say that there are a lot of people here giving recommendations to new people (which is great) and there is this specific one that really irks me, "Read the whitepaper". Why does it annoy me so much?Well, for starters I highly doubt that people giving these recommendations even read the whitepapers themselves, I honestly believe that they say this in order to look like "responsible investors" or "being in it for the tech", whatever their motives are, I believe that 99% are lying.For the tiny minority that actually reads the whitepapers, I don't mean to sound like an asshole, but I highly doubt you understand the important technical part of the whitepapers completely. I say this because I've taken several high level CS courses in college and I struggle every time to grasp some concepts that describe how a certain project works and what makes it significant. I am certainly no guru, but I believe that I know more CS than the vast majority of people who are trying to get into crypto, and if someone like me can't understand what these whitepapers say, how exactly will a newcomer get any benefit from trying to read these documents?You know, I remember I got into crypto right when I started college, and even now 3 years later, I prefer just watching a simplified video about a project than trying to read the whitepaper, which I know will be a waste of time. There is a reason why most projects upload a simplified version that explains how the project works, and that's so that newcomers can get an idea of what the project is. Odds are that the vast majority of people trying to buy a certain cryptocurrency will be people that just don't have the background required to understand whitepapers, so let's stop recommending them to read whitepapers and instead recommend them something different, like watching videos or reading simplified articles that explain what the cryptocurrency that they want to buy is.
Submitted March 31, 2021 at 12:56PM
Submitted March 31, 2021 at 12:56PM
Just a reminder: r/btc is a Bitcoin CASH subreddit, NOT a Bitcoin subreddit!
I think this is incredibly important for people to know, especially for all the newcomers coming into this space recently!Bitcoin Cash is the result of a hard fork that occurred in 2017, mainly due to conflicting opinions on implementing a larger block size (which would increase transaction throughput on the ledger). BTC and BCH share the genesis block (the first mined block) and all transaction history leading up to the fork, but are completely different projects since then.You will find many posts in r/btc bashing Bitcoin, or “Bitcoin Core” as they call it, and claiming that Bitcoin Cash is the “real Bitcoin”. This is patently false, however, and very deceptive, especially because their subreddit uses the acronym for Bitcoin. Furthermore, the website “Bitcoin.com” is run by the founder of Bitcoin Cash, Roger Ver.This is in no way bashing Bitcoin Cash. I think it’s an interesting project, that has utility to be a good means of exchange, HOWEVER, I do not want to see newcomers being deceived into investing their money into a fork (one of many, mind you) of Bitcoin, when they wanted the real thing.
Submitted March 31, 2021 at 10:28AM
Submitted March 31, 2021 at 10:28AM
PureStake Raises $6M From Binance Labs, Coinbase Ventures
https://ift.tt/3fpvxd7
Submitted March 31, 2021 at 10:05AM
Submitted March 31, 2021 at 10:05AM
Algorand Reaches 10 Million Accounts as Adoption Accelerates.
https://ift.tt/2Pkkjfj
Submitted March 31, 2021 at 08:37AM
Submitted March 31, 2021 at 08:37AM
Daily Discussion - March 31, 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 🌔List of MOON proposals that have been implementedrCryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily DiscussionsMonthly Skeptics Discussion thread
Submitted March 31, 2021 at 07:00AM
Submitted March 31, 2021 at 07:00AM
Great advice I found in r/poor: “Buy even 10 dollars in Bitcoin at a time if that's all you can spare. That's how I started. Today, the first 10 dollars I've put in just crossed the million-dollar mark. That took only a decade of holding a value I would've spent anyway.”
https://ift.tt/39sStEw
Submitted March 31, 2021 at 03:22AM
Submitted March 31, 2021 at 03:22AM
Letter to my younger self
I've been in crypto since 2017... and over the years I've made every single wrong. If I could build a time machine and tell my younger self a few things, these would be it:THERE IS NO SUCH THING AS A GET RICH QUICK SCHEMEWhile money comes quickly in crypto, as compared to traditional markets, it goes away even faster. Your profit, and return on investment, is directly corelated to the amount of work, effort, research, and attention, you put into your investments. If you do it right, you will have a ton of success... if you don't, your failure will be epic in so many ways.Things might sound outlandish in crypto, but if you follow rule #1, you'll be able to figure out which have potential, and which ones are never going to reach the daylight. If someone is trying to make you "Get in right now or you'll never be rich" that's ok... let them have the glory of monster gains, there are plenty to be had that will fit your needs. I'll tell you below how to figure out which projects are good and which ones are not.PEOPLE THAT TALK ABOUT BEING THE BEST IN CRYPTO ARE NOTIf you run across someone that constantly says that they are the best (paid group leaders come to mind), they are far from it. The one's that are the best let their work talk for them, and they are more than happy to help others be successful for free.The biggest names in crypto are the ones that show you their work... If you have doubts about someone being who they are, just ask them to show you their P&L. If they are genuine, they will do so without hesitation, if they are not... they will give you an excuse of why they will not. "I only talk to real Alphas" is not the right response to this.YOUR NET WORTH IS NOT THE MEASURE OF WHO YOU AREIt is easy to look at some people turning $5,000 into $500,000 in 6 months and thinking that you should do the same... you won't. Some of these people are incredibly talented, gifted, and dedicated traders who spend 8-12 hours every day working on their portfolio. They have years of experience that makes them good at what they do... or they are just really lucky. Either way, you're not going to beat them until you become the same.Being successful in crypto means different things to different people. Set your goals early and gauge your success based on your goals. "I want to be rich" is not a goal, it's a dream. "I want to make $100K this year using crypto" is a goal... "I want to be a millionaire in 2 years with crypto" is a goal. Once you make it, figure out what you need to achieve it. You might have to educate yourself, you might have to practice trading on paper before doing it for real, you might have to lose some money before you make some. Just make sure you know what you're trying to do and what you need to do to get there.The biggest thing that will stop you from succeeding is your ego. Be humble, be smart, be the one that people want to be around. You'll get much further in life if you swallow your pride and admit your mistakes.DO YOUR RESEARCH NO MATTER WHATWhitepaperDoes it make sense?Does it solve a problem that needs solving?Does it solve it better than anyone else out there?Is there direct competition, if so research themManagement teamAre they experienced in the field they are trying to enter?Do they have someone external helping them enter the field?Do they have experience leading startups or history of long term business development?AdoptionAre people talking about it or is it so far off the beaten path that a handful of fanboys know about it... if it is latter, it's probably not a good projectsMarket cap and volume... a great sign of adoption is high volume as relative to the market cap... you want to see volume in the 10% of the market cap at least... So if you have a $10M market cap coin, at least $1m should be traded on a daily basis... $50M cap coin means $5M trading volume... etc. and majority of that trading needs to come from a large variety of wallets. You want big holding wallets, and small wallets to be moving the coin around... it shows a healthy ecosystem. To that note, small transactions on regular intervals are bots keeping the network alive... if that is most of the volume... MOVE ON.ExecutionOnce you get into the coin, it is important to track the progress of execution. Everything might look good on paper but if they are not able to make their idea into a reality you will see a bunch of fluff news around but no actual implementationCrypto companies move at the speed of light. They knock out projects in weeks and months, not years. If you run across a team and project that has very few executed projects across a long time span, there is something wrong. Especially if they keep saying "Great things are coming" "Amazing stuff is about to happen" What a traditional company does on 5 years, a crypto company can do in 1... so if they have been around for 4-5 years and they don't have much to their name, it's a shitcoin... you should move onIs there transparency with the investors? If the team is not willing to share their roadmap with the investors (YOU) and is reluctant to keep up with regular updates, then something is not right. Right teams will not only update people on the things that are going on but they will also engage the base on a daily basis to keep the interest alive. They need to be as excited about the project as you ara.RISK MANAGEMENT MATTERSCatching falling knives is dangerous. Don't try to be perfect on your entry and exit. No one can predict that. If you have done your homework, you'll know the entry range, the exit range and the right time to act. When you do, act with intent, not doubt.Diversification is going to be a key to your success. Invest in a wide variety of projects, different industries, different fields. No one industry or project will reign supreme so make sure that you cast a wide net.Don't put in more than 3-5% of your net holdings into any single project. That doesn't mean that you should ONLY invest 3-5%, no... it just means that any single project should have no more than 3-5% of your overall holdings.Use stop loss if you are swing trading, if you're not then have a number in mind where you're going to cut your losses. 98% of traders lose money, it's a simple fact... most of them lose money because they have crappy risk management. Even if you're in love with a project, you should know when to get out. Things change so re-evaluate often. More importantly, if you risked only 3-5% of your portfolio, even without stop loss, you're going to do OK.No one is perfect, if you are a trader that has a 70% strike rate (meaning that 70% of your trades are profitable) you will come across a losing streak where 5-6 of trades you have will be bad. Without risk management, those trades could wipe you clean and leave you broke. to recover a 50% loss, you have to make it up with 100% gain to break even... doubling your portfolio is not that easy. Most successful traders have a strike rate of 40%, so using proper risk management is key to their success.Remember, these are rules and not law. There are exceptions to every rule, but if you have too many exceptions, then you don't have any rules in place. So use caution if you decide to not follow one or more of these.Most importantly though, remember that crypto and trading is not life. You only live once, and while you will fail often, make sure that you take the time and dedicate it to the things that are more important in your life. Spend time with your family, spend time with your loved ones and share with them the precious little that you have.No mater what, even if you lose it all, don't give up. Lessons can be costly, but you will be stronger in the end. If you learn from your mistakes, I can guarantee you that you will come out OK in the end. Trust me, I've done it... and I'm doing just fine!See you in the future.USP.S. Surround yourself with people that are willing to help you succeed. People that will cheer you on with every step forward you make. People that will be happy if you're doing better than them, but if you're not they will give you advice on what you can do better/different. There are many people out there like that, find one first... then find more. Once you do, your success will be almost guaranteed.
Submitted March 31, 2021 at 03:56AM
Submitted March 31, 2021 at 03:56AM
Tether has been audited by a third party and it is confirmed that they are fully backed by the reserves!
https://ift.tt/2PHqQ3s
Submitted March 30, 2021 at 10:46PM
Submitted March 30, 2021 at 10:46PM
Are You Not Entertained? Bitcoin Has Now Closed Above $50,000 for 27 Straight Days
Number of days above $50kFinally guys, Bitcoin at $50k is starting to feel comfortable!A few months back, we were celebrating the break above the former $20k all-time high. Fast forward to the present, Bitcoin has now stayed above $50k for 23 freaking days and yes, there's a very high chance we'll hit the 30-day mark or even more.The first attempt to break over $50k didn't last longer than 6 days, and even the next one didn't last up to a day. But since March 7, we've stayed over $50k. Despite the wicked dip last week, the support held, and right now, we're closer to $60k than $50k.The previous halving cycles didn't have the luxury of such large purchases by corporations and long holding periods by the majority of investors. It will be interesting to see how all of these play out, but I'm optimistic we'll at least see $70k BTC before this cycle ends.Do you still remember when $100k Bitcoin was a pipe dream?Well, I won't be surprised if it happens before the end of this cycle, and o boy, what an entertaining ride it has been!
Submitted March 30, 2021 at 11:31PM
Submitted March 30, 2021 at 11:31PM
Not all your coins are Blockchain; a short look at different types of Distributed Ledger Technology
This is a small overview of the different DLT's, for a deep dive into these technologies I can recommend reading whitepapers of the coins mentioned.Blockchain: transaction information is collected in 'blocks' and other blocks are building onto that creating a chain, blockchain. Each block has a hash that identifies the transaction which will change in a different transaction if someone tries to alter it. Blockchain is transparent due to its public ledger which every node (or viewer) on the network has access to.visual representation of how blockchain works- Participants get new tokens due to different consensus mechanisms; Staking or Mining for instance.- Known for scalability issues although this has become less of a problem due to new developments and L2 solutions.Most famous coins: Bitcoin, Ethereum, Cardano.Scaling solution:Sharding: ''Sharding splits a blockchain company's entire network into smaller partitions, known as "shards." Each shard is comprised of its own data, making it distinctive and independent when compared to other shards.'' This will solve common congestion issues blockchain is known for.Most famous coins: Harmony, Elrond, Zilliqa, Ethereum soon™.Directed Acyclic Graphs (DAG):DAG is a way of trying to fix the limitations of blockchain. This type of DLT relies on consensus algorithms. This simply said means that transactions are valid when the majority of the network supports it. Nodes are all equal, which requires teamwork (nodes all need to be updated and about the same strenght). The previous transaction validates the new transaction to achieve consensus.Visual representation of how a DAG works.- Thanks to this structure DAG-based coins are better at scaling, cheap and TPS is extremely high.- The success of a transactions depends on its ability to validate two previous transactions.Most famous coins: IOTA, Nano, Avalanche, Dagcoin.Hashgraph: ''Hashgraph is an decentralized consensus mechanism using the blockchain concepts of "gossip," "gossip about gossip" and virtual voting'. When only nodes have to achieve consensus using this these protocols it makes the process of completing a transaction way faster. I can recommend the site of Hedera Hashgraph if you're interested in how all these protocols work; link hereBlockhain VS Hashgraph.- extremely scalable & high TPS due to the unique consensus mechanism.- Validation of transactions depends on consensus.Most famous coins: Hedera HashgraphHolochain: Holochain's goal is to change the structure of the internet as we know it, moving away from a server-client basis. You can see Holo as a combination of Bittorrent (p2p), blockchain and Github. This means that each node will run a chain of its own, operating autonomously from the network. So there will be no 'middle man' as data storage is locally on your device.Centralised data storage vs Holochain.- Unlimited TPS and scalability because each node runs its own ledger.- No network congestion, data is distributed amongst different nodes.Most famous coins: Holochain
Submitted March 30, 2021 at 09:04PM
Submitted March 30, 2021 at 09:04PM
My Girlfriend said Get Rid of Crypto, so I Got Rid Of Her.
I was with her for 2 years, and honestly, before crypto trading, my life was really boring.I work a regular 9-5 barely making bills on time. I'm not saving anything ever, and my only hobbies is her, all she wants to do is watch movies, and I get that. That's not the issue with her, I really don't like judging people.About this time last year after talking with a friend, I decided to make an investment into crypto with only $1000. I know that's small beans for most people but It was everything I saved in 4 months. I told her about it, and she was a bit upset that I wasted my money but she got over it.Now I have about $10,000 IN CRYPTOit's very exciting.already cashed out my initial investmentcashed out an additional $1000I put $2000 of my long term aside for day trading.I'm on over 12 exchangesI'm able to make an extra $300 a week playing lower cap coins.I've honestly never had so much money in my life, and I'm much happier! Crypto is a real hobby and investment at the same time.But for the past couple months since the Doge frenzy, My girlfriend is Super Paranoid about it, and doesn't understand anything. She keeps telling me not to buy into the meme coin thing even though I told her I never have.She keeps...telling me if I don't take out I'm gonna lose all my moneytelling me to take it all out so we can go on a big vacation.telling me it's an addiction and maybe I should stop and see someone about itNow her latest thing is telling me what I'm doing is hurting the environment.THIS IS SO AGGRAVATING!I must of told her at least 7 times I can't lose my money because I already cashed out a 100% profit, and I'm starting to cash out an additional $200-300 a week swing trading ... and the rest doesn't matter as it's long term.Her response? That's not gonna last foreverWho cares if it lasts forever or not. I'm good, I never lost, so it doesn't even matter, and that extra wouldn't even be there if I listened to her to stop a few months ago .But anyway I just figured maybe she misses spending time with me at nights. Woman are very hard to figure out.So I decided to do something nice the other day.I bought her few orchids. (Not the crypto Orchid...the actually flowers).I bought very expensive food to cook, and wine. (With my crypto earnings)I bought her a new bag for the gym (Here's was starting to rip on the side) I bought that to with my earnings.I spent ALL DAY yesterday preparing and cooking a meal so I could have it ready by the time she gets home from workWe actually had a good time. She was smiling and so happy I did all that for her, we talking about nothing too. It was perfect. We were tipsy, and at the end just as the meal was finished I decided maybe this was a good time to make some moves on her later...But before she finished...she just couldn't help her self?She ended the whole thing with *I really wish you would stop playing on those crypto apps* And then we got into a little picker over it.I was SOOOO PISSED! I Felt like the entire mood was killed and everything I did to make a good mood was just nullified.So yesterday I simply gathered all my stuff up this morning, went to the bank and withdrew that $1000 profit, I left it on the table for her with a note that said "you wanted to use my crypto earnings for vacation...now you can without me"I also changed my number, and today I'm driving to another state to look at a house to rent.. funny thing is, the rent is 1/3 of the price that we were paying here in the city.Now I have the luxury of exploring other jobs without worrying about going broke for rent.Now I can enjoy trading crypto without hearing it from someone that wants to control my life. FUCK THAT!NOTE: what my investment in alts go up another 12x? That's over $100K that's enough for a down payment on a house and will cover 4 years of mortgage payments. It might not get there but what if it does? And if not , what's my loss? Doubled my initial investment? Back to working like I always do? There's everything to win and nothing to lose for me. I'm glad I left.
Submitted March 30, 2021 at 10:45PM
Submitted March 30, 2021 at 10:45PM
Here's PayPal's CEO buying some boots as first checkout with Crypto Purchase
https://www.youtube.com/watch?v=B6vI8P5pOVU
Submitted March 30, 2021 at 07:07PM
Submitted March 30, 2021 at 07:07PM
Donate BAT to Wikipedia!
Wikipedia is a Brave verified creator. Every month they are the SOLE recipient of my tokens. It's not much, but this month they're getting the equivalent of 5 dollars from donations across all of my devices. I have been doing this since I first started using Brave last November.Support the Brave ecosystem and support free access to information!
Submitted March 30, 2021 at 09:56PM
Submitted March 30, 2021 at 09:56PM
PayPal Advert for the upcoming 'Checkout with Crypto' feature
https://www.youtube.com/watch?v=EAysfZiO3Ys
Submitted March 30, 2021 at 05:24PM
Submitted March 30, 2021 at 05:24PM
Priceless NFT Artwork Vandalized With Spray Paint Tool
https://ift.tt/3ctKCZb
Submitted March 30, 2021 at 03:29PM
Submitted March 30, 2021 at 03:29PM
Anti crypto people: oil destroying planet - “sure”, gold miners in huge trucks and literally using cyanide to leach gold - “no probs”, coal getting huge government subsidies - “yeah why not”....bitcoin mining - “i must fight this evil and take the moral high ground”.
I’m not even saying, you’re wrong to worry about bitcoin energy usage, it may be a huge issue, although all the evidence suggests its at least done with renewables a lot of the time, but if they’re going to be outraged, at least be consistent with the outrage. It’s really quite laughable
Submitted March 30, 2021 at 03:27PM
Submitted March 30, 2021 at 03:27PM
Just in: PayPal to announce later today it has started allowing U.S. consumers to use their crypto for online payments to 26+ million merchants globally!
https://ift.tt/3dh0s8S
Submitted March 30, 2021 at 04:49PM
Submitted March 30, 2021 at 04:49PM
Just wait till the Central Banks shill their "coins" at us... coming soon smh
I'm sure a lot of you are aware but idk if enough people are. Central Banks are essentially going to laze their way into digital currency. They are going to create a digital token and peg it to their fiat of choice and sell it to you as a safe investment.PLZ dont buy this garbage...we cant let the central banks attempt to steamroll this movement for financial independence and away from their control.They are calling them CBDC's as a blanket term at the moment.. cant wait for the bots to come out and shill this garbage in the coming months/yearsThe FEDs here already...sheeeeesh
Submitted March 30, 2021 at 08:00AM
Submitted March 30, 2021 at 08:00AM
DeFi explained: Oracles
What are oracles? How do they work? And how do smart contracts benefit from them? I’ll try to answer these questions in this post.Blockchain OraclesYou may have heard of the Oracle problem. This problem is actually a very simple limitation, and that is that blockchains cannot retrieve or send data themselves to an external problem. In any case, this function is not built into the blockchain itself.As a result, blockchains are actually isolated networks that look suspiciously like a computer without an Internet connection. And that isolation is precisely what makes the blockchain so secure, because no one can access it just like that.The participants of the blockchain network check whether everything is done according to the rules, based on the consensus algorithm. For example, they check whether the transaction has been properly signed and whether the transaction can be made within a smart contract. This also makes smart contracts very trusted. They work exactly as they are made, and it is impossible to deviate from them.However, smart contracts must be connected to the outside world, so that they can be used in as many situations as possible. For example, smart contracts in the financial world need market information to pay for settlements, and smart contracts in the insurance world need certain information from the internet to make decisions about policy payments.Smart trade finance contracts need trade documents and digital signatures to know when to release payments.So you see that an awful lot of external information is needed before smart contracts can be used in all sorts of ways. And none of the above information is generated within the blockchain. So there must be a connection between the blockchain and external systems in order to set up a new infrastructure, also known as the 'Oracle'.Blockchain Oracles therefore in fact provide the data necessary to be able to execute smart contracts when the set conditions are met. A blockchain Oracle is the only way for the blockchain to communicate with the outside world.What does a blockchain Oracle do?Blockchain Oracles are therefore the bridge between the blockchain and external systems that can provide the blockchain with information. In fact, it is the man-in-the-middle that takes care of the communication between two different systems.An Oracle has several functions to ensure that this communication can be established.Let's talk a little bit more about Oracles' key features:Listens to the blockchain network to check for requests to fetch data outside the network to make smart contracts work.Retrieve data from different types of systems in order to be able to offer the requested data.Convert data to the correct format in order to allow different systems to communicate with each other. A blockchain cannot just communicate with any other system, because they are different programming languages, have different system requirements, etc. The Oracle takes care of the compatibility.Validate performance with a cryptographic proof that certain transactions, signatures and executions actually took place.Make calculations on data. Consider, for example, calculating the median, as well as performing more complex tasks, such as generating insurance quotations based on different types of data.Sending data and evidence to the blockchain and other systems, so that they can then perform the necessary actions. For example, smart contracts can perform actions based on the data that the Oracle sends.In order to provide the above functions, the Oracle must work on and off the blockchain at the same time. The part that sits on the blockchain is there for establishing a blockchain connection (to listen for requests), broadcast data, send evidence, convert blockchain data and sometimes perform calculations on the blockchain.The portion that works outside of the blockchain is for processing requests, retrieving and formatting external data, sending blockchain data to external systems, and possibly performing calculations in more advanced Oracle networks.Oracle examplesThere are many different situations where Oracles can offer a solution. Consider, for example, betting on football matches. For example, you could place a bet with a friend about the winner of a match.You then put this bet into a smart contract. The winner will then automatically receive the reward. But the smart contract will have to know who the winner of the competition is. The fairest way is that it happens automatically, and no person has to enter the outcome.In principle, a smart contract does not interact with the competition. An Oracle will therefore have to be made so that the blockchain and the smart contract can read who has become the winner of the Classic.By means of a trusted API, the smart contract can read who has won the competition. Smart contract then determines who is the winner of the bet, and the money is then sent to the winner.In the absence of Oracle, the bet could not be settled fairly. Then there should be a person who enters who the winner is, but in that case there is a chance that this is not done completely honestly, because the importer can also enter something else.ChainlinkAn example of an oracle platform is Chainlink. Chainlink wants to connect different blockchains as well as external systems. They do this by giving the smart contracts access to resources such as data feeds, web APIs and traditional bank details. These resources are provided by the affiliated agencies that can use the smart contracts in return. As a result, they do not have to switch to a new system themselves and can still use smart contracts. In addition to the fact that they are allowed to use these smart contracts, they also receive a reward in the form of LINK tokens for supplying data and APIs. When a party does this, they are called Chainlink Node Operators. They are then responsible for maintaining the connection between the API and the Chainlink network. The Chainlink network consists of all connected Node Operators.Band ProtocolAnother interesting oracle platform is Band Protocol. The main difference between Chainlink and Band Protocol is that Band Protocol uses its own blockchain called BandChain, based on Tendermint, with a Delegated Proof of Stake (DPoS) consensus algorithm. It works in the Cosmos ecosystem. Chainlink, on the other hand, is not a blockchain, it is a kind of network of nodes that only work when oracles are solely focused on delivering data between entities. There is no blockchain of its own, because it is all based on Ethereum.ConclusionWith a blockchain Oracle we can have the blockchain communicate with central systems, so that much more is possible. Smart contracts in particular can make good use of this.Blockchain Oracles therefore ensure that we come a little closer to a future in which blockchain can play a major role. It builds a bridge between the world as we know it today and a world as it could be if we use blockchain.Interested in liquidity pools? Read about them in my previous post here.
Submitted March 30, 2021 at 02:38PM
Submitted March 30, 2021 at 02:38PM
Stock markets are shambolic. The rich are able to bypass all regulations. A hedge fund trader, who was convicted by the SEC for insider trading, got liquidated on $15bn margin account. Cryptos are a breath of fresh air.
Its crazy how all regulation fails when it comes to the large players and participants. Bill Hwang/Archegos capital was convicted by the SEC for insider trading, is also banned from participating in Hong Kong stock market for fraud, but somehow can get 5x leverage from large public banks like Nomura, Goldman Sachs and Credit Suisse. He blew up what is estimated to be a $15bn account that was extended to $80bn by leverage. Entire account gone, tanking bank stocks and profits with it. None of the banks that have been lending to him were bothered by his risky track record. And another of his proteges Teng Yue also apparently blew up a similar sized account, all trading risky Chinese stocks. The total impact is estimated at around $30bn without leverage.These "hedge funds" were given leverage to place super risky bets on stocks. One of the company Hwang/Archegos was into, GSX Techedu has long been suspected of being a fraud company. As per some analysts and whistle blowers like Muddy Waters Research who have been calling GSX a scam for a long time, all the so called "students" of GSX are just bots, GSX was compared to another phony company Luckin Coffee. In Jan, it was suspected that the stocks rise in price was due to short covering.Public shareholders of GSX. Its owned by a lot of big banks, who seemingly have not done any due diligence. A lot of US public funds is used to pump shady companies. Even Pension funds are invested in this garbage.These hedge funds even skip SEC reporting rules by dealing in swaps and not the actual equities of risky companies. So in this case, the SEC doesnt even know what Archegos and Teng Yue's accounts look like, because they are all held in swaps and the banks are the final owners of these risky assets.These risky stocks are held by pension funds and public banks on their books, while clean assets like Bitcoin are labelled risky and speculative. If the pension funds actually held bitcoin, all their pensioners would be better off and thank them. Instead they have been investing in garbage that will only erode their investors investments.
Submitted March 30, 2021 at 10:07AM
Submitted March 30, 2021 at 10:07AM
Congratulations r/cryptocurrency for reaching 2,000,000 subscribers!
After less than 1 year, we have gone from 1 million to 2 million subscribers!April 19th, 2020: https://ift.tt/3dmMq5H bull run has seen a lot of people enter the cryptocurrency space. According to subredditstats.com, there were 1.175 million subscribers at the end of December 2020. That means 825,000 people have subscribed to the subreddit since the beginning of the year!Take a look at the graph here, look at that insane slope starting Jan 2021: https://ift.tt/3fqnHA4 stat: According to the Round 11 moons distribution, roughly 35,000 people earned at least 1 karma which means 1.75% of users were active last month.
Submitted March 30, 2021 at 07:28AM
Submitted March 30, 2021 at 07:28AM
We about to hit 2,000,000 users
We’re only 600 members away from hitting 2 million people on this subreddit. I have been a long time lurker here and I can’t believe how fast this community is growing. 🖐Welcome to those that are new and cheers to the old timers that have been accumulating crypto for years.
Submitted March 30, 2021 at 04:59AM
Submitted March 30, 2021 at 04:59AM
Switch to Brave Browser for free cryptos!
Just a heads up to folks here that if you replace your Google browser with brave browser you can start earning Basic Attention Tokens just for browsing the Web! Even if you have no interest in that, brave is faster than Google and blocks trackers and ads.
Submitted March 30, 2021 at 04:34AM
Submitted March 30, 2021 at 04:34AM
Daily Discussion - March 30, 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 🌔List of MOON proposals that have been implementedrCryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily DiscussionsMonthly Skeptics Discussion thread
Submitted March 30, 2021 at 07:00AM
Submitted March 30, 2021 at 07:00AM
(Mega Bullish) Mastercard is very close to using Ethereum as well! (3 Solid Evidences Provided)
It is now well known that Visa is using Ethereum to settle crypto transactions.Well, Mastercard is soon to follow as well! Rumor is always more valuable than the news itself!We have 3 solid evidences:Evidence 1) Biser Dimitrov, Director, Blockchain Product Development & Innovation at Mastercard is an expert Smart Contracts developer with Solidity/Go, Digital Assets origination, Ethereum. (Source: LinkedIn)https://ift.tt/3foOU5T Dimitrov was only hired by Mastercard in Apr 2020!Why would Mastercard hire a Solidity/Go expert, if they were not going to use Ethereum? Logical conclusion is that Mastercard is in fact going to use Ethereum!Evidence 2)Quite a few Mastercard Employees are learning Solidity/Ethereum in recent times. We just list a few examples here:i) Arijeet Chakravarty Consultant at Mastercard, did a course on Solidity in March 2021.ii) Rashi Goyal, Director - Product Development | Blockchain/Crypto at Mastercard, completed a course on Ethereum and Solidity: The Complete Developer's Guide Udemy Issued Mar 2020.This just shows that the employees themselves (who have more inside info than us outsiders) are very bullish on Ethereum, and are willing to spend time to upgrade themselves in this field. There has to be a reason, employees have so many courses to choose from, why choose Solidity?Evidence 3)Mastercard is hiring a Blockchain Lead Software Development Engineer on Glassdoor, requiring the following skillset:Design and implementation of innovative capabilities leveraging experience with a blockchain network such as Ethereum and a Smart Contract language such as SolidityTechnically, yes, it says "such as" Ethereum, but that is also the only option listed. Hence, the highest probability goes again to Ethereum!Again, just ask ourselves, why would Mastercard hire a Blockchain Lead Software Engineer with experience in Ethereum and Solidity? The answer is obvious!
Submitted March 29, 2021 at 09:25PM
Submitted March 29, 2021 at 09:25PM
It seems like my professional work is becoming a side hustle, anyone like me?
I don't know if this is true, but now because of being able to work from home, I can do my 9 to 5 job while simultaneously trading/investing in coins and stocks? Anyone feels like me? I asked around my friends and they don't even care if crypto exists. And we're in our late 20s, maybe that's a good sign to show that we are still very early to the real internet of value era?
Submitted March 29, 2021 at 08:16PM
Submitted March 29, 2021 at 08:16PM
[Explainer Video] What are r/CryptoCurrency MOONs?
https://www.youtube.com/watch?v=NE9phQLljIY
Submitted March 30, 2021 at 01:56AM
Submitted March 30, 2021 at 01:56AM
It's time to address it. There is blatant manipulation going on.
For the past months we have witnessed an increased amount of manipulation on twitter, reddit and other channels in order to misinform newcomers and regulars alike.Almost every news article or post regarding NFT or DeFi is written in such a way that the Ethereum blockchain is not named or even worse, the article only refers to "Blockchain like Bitcoin".There is a big crypto twitter army jumping on this moving to keep the information asymmetry alive and they will try to remove Ethereum from a lot of the news sources and add a Bitcoin logo and hashtag to keep it trending.Today this manipulation has peaked, even on THIS subreddit. Visa announced to settle payments on the Ethereum blockchain, yet the two articles about this on the frontpage of this sub are:Bitcoin jumps as Visa is reportedly said to allow payment settlements using cryptocurrencyVisa To Start Settling Transactions With Bitcoin Partners In USDCIt's time for the mods to take action and ban these posts trying to alter news facts and misinforming people in order to pump the price of their own bags.
Submitted March 29, 2021 at 06:17PM
Submitted March 29, 2021 at 06:17PM
Ubitquity Teams Up With VeChain to Implement Vechain Toolchain™ for the US and Global Title Industry
https://ift.tt/2Pf0iqk
Submitted March 29, 2021 at 08:12PM
Submitted March 29, 2021 at 08:12PM
I listened to Charles Hoskinson (Cardano) livestream. He's convinced me to dump all my ADA.
Disclaimer: I want ADA to succeed. Cryptocurrency shouldn't be a zero-sum game, where the success of some coins means the failure of some others. The Crypto tide is rising, and all the nice boats should be lifted, except the ones stuck in the Suez Canal.That being said, Charles Hoskinson is losing it. He pumps out a lot of content on his YouTube. I watched a recent one and he goes on a long ass rant about trolls and haters and FUD and how ADA is super awesome, just you wait. If you squint a little, he sounds just like that time Elizabeth Holmes told Jim Cramer she's gonna change the world, right before Theranos imploded.Mr. Hoskinson, I think you need get in your Lambo (you really love talking about your Lambo, yeah?) and drive off to a sunny beach, and decompress for a while. The stress is getting to you. You look really burnt out. All that energy you spend attacking your doubters just a) makes you look defensive and b) leads me to think you're doubting your own product.Anyway, I'm gonna see if I can realize out a little more profit out of ADA before I sell it all. No HODL for me.
Submitted March 29, 2021 at 09:25PM
Submitted March 29, 2021 at 09:25PM
Visa Picks Ethereum Over Facebook Libra to Settle Payments; ETH/USD Up
https://ift.tt/3dfiW9I
Submitted March 29, 2021 at 08:44PM
Submitted March 29, 2021 at 08:44PM
[Forbes] Visa To Start Settling Transactions With Bitcoin Partners In USDC
https://ift.tt/31tygtS
Submitted March 29, 2021 at 04:26PM
Submitted March 29, 2021 at 04:26PM
Bitcoin will overtake Google and Amazon by market cap at $83,000
https://ift.tt/3n1ye4D
Submitted March 29, 2021 at 07:23PM
Submitted March 29, 2021 at 07:23PM
Major breakthrough: Visa now settles payments in USDC stablecoin on Ethereum blockchain!
https://ift.tt/3w8HV7m
Submitted March 29, 2021 at 04:03PM
Submitted March 29, 2021 at 04:03PM
Bitcoin jumps as Visa is reportedly said to allow payment settlements using cryptocurrency
https://ift.tt/3fmWNc5
Submitted March 29, 2021 at 03:53PM
Submitted March 29, 2021 at 03:53PM
You guys asked for it so here it is: I built a bot that buys Bitcoin when Elon Musk Tweets about it and open sourced it
In my last post, you guys were interested in my bot project that buys Bitcoin when Elon tweets about it so here it is!The bot was initially designed to buy Bitcoin when Elon Musk tweets about, regardless of the sentiment of the tweet. I have shared it with some smaller communities, and there was some great feedback on it regarding the main concern - what if Elon tweets: "Bitcoin is too high imo" and the bot buys at the wrong time.So I found an API that would help me analyse the tweet sentiment, and integrated this into the code. The bot will now only buy Bitcoin when Elon Tweets, if the sentiment of his tweet is positive.I have tested the functionality and the bot is quite stable, but I haven't tested how profitable (if at all) it would actually be, so if you're interested in testing it, please share the results with us! :)The bot was built mostly for fun, and I wouldn't encourage you to trade with it on a live account! But if you want to have some fun with it and try it out on a demo account, here you go:Article and guide: https://ift.tt/2OVpeTB Repo: https://ift.tt/3dbkRvU
Submitted March 29, 2021 at 04:26PM
Submitted March 29, 2021 at 04:26PM
If you're using binance for buying crypto, don't use the 'buy crypto' section as they intentionally choose the worst exchange rates. instead deposit fiat and go to 'trade' or 'P2P' section
I wish I figured this one out sooner but if you buy crypto directly from Binance, they will charge you the highest rate due to the spread and I've lost quite a substantial amount due to this. If you're buying from Binance, deposit fiat and then convert it to crypto either using P2P or the trading page so you get more crypto for your moneyEdit: thx for the award
Submitted March 29, 2021 at 01:44PM
Submitted March 29, 2021 at 01:44PM
“Boomers Next to Adopt Crypto, a Trillion Dollars Could Flow Into Bitcoin Over the Next Year”
https://ift.tt/3wagZ6S
Submitted March 29, 2021 at 08:27AM
Submitted March 29, 2021 at 08:27AM
I think we should change the name of how often we distribute moons.
We all know that moons are distributed every 28 days.We also know that the moon goes through its cycle every 28 days.I propose we call each round of moon distribution a moon cycle.Thank you for your time.
Submitted March 29, 2021 at 08:48AM
Submitted March 29, 2021 at 08:48AM
Analyze: When the bull market ends? 4 indicators.
Short answer: Nobody knows! This is not financial advice.Long answer: Nobody knows, but there are some indications. Still not financial advice.1 / Market cycle durationFirst bitcoin cycle was around 15 months. Second one was 36 months. Third one was 48 months. So, you could conclude as market cap grows, each cycle becomes slower at accumulating more capital. So far, this cycle has been 26 months from the bottom. If the trend is going to continue, this cycle still has a lot to offer.2 / Market cap peak trendlineIf we draw the trendlines from previous cycles (chart by Peter Brandt CEO of Factor LLC), it seems that we still have room before reaching the peak area. This trendline is based on very few data points, but if the market is going to behave the same way, it appears that we are in in the middle of the current cycle. Watch this video for more info.3 / Ratio between long-term holders to short-term holders.In simple terms, in the last bull-markets short-term holders increased and long-term holders decreased to certain levels when we approached the end of market cycle. In this chart you can see this ratio (and the mathematics behind it), going to red area indicates that we are near the end of cycle.4 / Stock to flow modelFor 'store of value' commodities there has been a useful model which has predicted the value of assets like gold and silver. Since bitcoin behaves similarly, it has been successful at predicting bitcoin too. Each time the real price deviated from the model; it went back to it. Right know we are very close to the model’s prediction, which could indicate a rather “fair value”.In the end, it has been always said “all models are wrong, some are useful”. Market is unpredictable, there is a big chance non of this happens. But if we are to guess, this bull market doesn't seem to be finished yet.
Submitted March 29, 2021 at 07:09AM
Submitted March 29, 2021 at 07:09AM
OPINION: If Satoshi Nakamoto hasn’t sold any of his coins yet, he never will.
In their filing for a public listing on the NASDAQ exchange, Coinbase [said](https://ift.tt/3dudv75) that one of its major business risks is the entire crypto market being destabilized if Satoshi Nakamoto is ever revealed or sells his holdings.Researchers estimate that Satoshi Nakamoto possibly mined coins up to block 54,316, capturing 1,125,150 BTC.So let’s be serious here, NOBODY’S hands are that strong. If he hasn’t sold ANY after creating over $60bn in personal wealth essentially “out of thin air” in just over a decade, he almost certainly never will.
Submitted March 29, 2021 at 06:07AM
Submitted March 29, 2021 at 06:07AM
Ferrari Supercars are Now Being Sold for Bitcoin
https://ift.tt/2PhDDts
Submitted March 29, 2021 at 08:10AM
Submitted March 29, 2021 at 08:10AM
Bullish:More Than 75% of U.S. Adults Express Concern About Inflation
https://ift.tt/3u1yTXE
Submitted March 29, 2021 at 04:03AM
Submitted March 29, 2021 at 04:03AM
Charles from cardano was right. You need ripple to win or this lawsuit. The SEC is going to open up CoinMarketCap and start litigating down the list. Do not let tribalism get in the way of this.
By winning the suit against ripple and the execs (for anyone who’s been following the suit ripple are absolutely smashing it) there will be case precedence.They will have the big fish and case law.This means any ico or sale of crypto from the inventors of said crypto will be targeted. There’s one thing the SEC likes and that is money.They can see an untapped wealth of fines and settlements here and they want to be the regulator who controls crypto in the USA. You might hate Xrp, but right now ripple and their lawyers are preventing the SEC from getting their hands on the crypto market.
Submitted March 29, 2021 at 06:10AM
Submitted March 29, 2021 at 06:10AM
Vote.finance’s quadratic voting system will change how we design governance features on tokens
What does deflationary actually mean?Typically, we discuss deflation as a positive thing in economics. In that context, it refers to the falling prices of everyday items, thereby providing each individual, or holder, with more purchasing powerBut what does it mean in a closed ecosystem in which there is no trade of perishable goods or stable number of holders? For a coin like HOGE, do deflationary aspects actually improve the tokenomics or equity of the asset?Relative to inflationary, it’s not so bad. Inflationary tokenomics typically involve mining or yield farming, allowing the money printer to go BRRRRRR for your biggest holders in activities that are not as practical for your smaller holders.So, with deflationary assets, the decrease in supply increases value proportionally for all holders across the board. Better right?Not so fast. For anyone to win with HOGE, it is dependent on new buyers entering the system. With the price increasing for every decrease in supply, this system still negatively impacts new buyers who the current holders are depending on.So, regardless of how you set tokenomics, it doesn’t really matter in the scheme of things. Whales win. Holders get diamonds hands. Power is centralized.But that’s not what we got into decentralized finance for, right? This is supposed to upend traditional finance and provide everyone the opportunity to properly invest and accumulate wealth.This is where Finance Vote provides their revolutionary quadratic voting system which can change the way we handle all governance tokens. And seriously, I mean ALL of them.If you’re Mr. “I read the white paper” then please, by all means, go ahead. Written by a team with multiple doctorate degrees on board, backgrounds in both DeFi and traditional marketing and finance, It’s actually quite the treat.But if you ape, whitepaper make brain go sad, it basically goes something like this. Finance.vote handles KYC (Know Your Customer) procedures through ID’s in the form of NFT’s, called Decentralized Identity Tokens, or DIT’s.These DIT’s allow you to vote on a variety of measures. However, the more votes you make on different measures, the less power each vote has. This reduces the power of a single DIT to impact voting more than, say, a person who is really only interested in one issue.This is important, because voter apathy is real, and just because someone chooses not to vote on a particular issue, it doesn’t mean other people should have more collective power.Now, this is still pretty easy to exploit. All you have to do is create multiple identities and then you get more votes. I’m sure we’ve all seen this happen somewhere.Without being able to verify identity through some regulatory agency, thus preventing DeFi from achieving its dream of cutting out third parties, there is just no realistic way to do KYC effectively to prevent this.So, Finance Vote simply allows you to buy more identities with FVT, but at increasing cost per buy, with supply burning at each purchase to reward all holders.While this may not seem like such a smart idea if you’re from a developed country, allowing people to buy votes, it ignores the reality that people will find ways to do so regardless and that, for most traditional companies, and most of DeFi, stocks and tokens are essentially votes you can accumulate.It also ignores that half of the world lives undocumented, and, without this system, would never be able to vote in finance anyway. And since each additional vote costs significantly more than the one prior, there will be diminishing returns, acting as a much larger deterrent to accumulating power than we’ve seen thus far in any system, traditional or decentralized.Vote Finance has also added true merit-based aspects to this voting system, getting further away from holders simply winning for holding. They’ve taken their second-layer governance system and applied it to create an entire ecosystem.One that I want to highlight is finance.vote, a market predictions platform that provides a gamified approach for users.Like how eToro allows you to copy other traders’ portfolios and moves, or Reef Finance allows you to invest in baskets, or collections of different tokens, each vote on a market prediction gets recorded and is available for other traders to see.As DIT’s get associated with making correct calls, they become more valuable (and are also tradeable). This is because the system actually weighs their input more heavily when curating discovery of tokens on the platform. This seems a fair and merit-based reward for increasing the viability of the platform through correct market predictions.In itself, this is a fantastic idea and will likely make investors a ton of money if they follow the voting signals which are designed to drown out whale action.But this is particularly interesting to me as Reef has forged a partnership with Vote Finance in order to utilize both their market indicators as well as their voting system.Think about that. Think about them being able to license this voting system, which reverses the benefits of economies of scale, the problems of traditional finance which bleed into DeFi, and sets us on a course for equity.Forget inflationary, forget deflationary, none of it matters if we just cap off the influence of big power and restore equity in finance.At an $8M market cap, Finance Vote could soon find itself in a different tax bracket. The functionality of its system is truly second to none, and can redefine the DeFi space and solve so many issues of market manipulation that we’re all seeing.Oh, and don’t forget that this is just ONE part of their ecosystem? You can check out yield.vote, influence.vote, auction.vote. While these are all impressive in their own right, I know you’re chomping at the bit to buy some FVT so DYOR on the rest.So whether you pick up a bag to get rich from the whale-resistant market prediction system, or because you can see its ability to be a licensing giant partnering with every major DeFi player, just know you’re in for one hell of a ride behind an extremely respectable team helping prove the value of DeFi in solving real world problems.Tl;dr: Doxxed and accomplished team partnering with top-100 projects, a revolutionary voting system and NFT-based ID’s that will close the gap on the inequities and market manipulation plaguing DeFi so that it can truly replace traditional finance, with a full-utility token that burns supply when spent on minting new ID’s.
Submitted March 29, 2021 at 06:53AM
Submitted March 29, 2021 at 06:53AM
Daily Discussion - March 29, 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 🌔List of MOON proposals that have been implementedrCryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily DiscussionsMonthly Skeptics Discussion thread
Submitted March 29, 2021 at 07:00AM
Submitted March 29, 2021 at 07:00AM
Unpopular Opinion. Bitcoin is a hypergrowth tech asset, and not necessarily a traditional recession-proof store of value, and we should be careful with the labels we put to it
First of all, before explaining why I believe this, I'll explain what I mean exactly by this.In this sub, and everywhere in the crypto community, we keep hearing "Bitcoin is a store of value", "Bitcoin is digital gold" and similar things. According to Investopedia, a store of value is "an asset that maintains its value, rather than depreciating", and lists gold as an example. This does not necessarily mean that gold is a better investment than Bitcoin, in fact I believe the opposite, since its inception Bitcoin has been the asset with highest growth.When we talk about a store of value, we tend to refer to some sort of asset that can provide a decrease in risk to your portfolio during turbulent times. We have very little data that could suggest that Bitcoin is recession-proof or an investment that you should make when your economy is going down, and in fact, most of the little data we have suggests the opposite.Consider how gold behaved during the 2008 stock market crash. The Dow Jones dropped from 13k in April 28th 2008 to 6.6k in March 2nd 2009, in other words the stock market during that time period almost dropped 50%. In April 2008, gold was at ~1200, and in March 2009 if was at ~1100, with the lowest low reaching ~880 in October 2008, in other words, the price of gold dropped ~27%.However, Bitcoin wasn't a thing during this time recession, and ever since then we have enjoyed the biggest bull market in American history, leading to all time highs, growth and returns in the tech sector. This was the time when Bitcoin was growing as well.In fact, the only recession we have had since 2008 was the covid recession, and this is the little data we have about how Bitcoin behaves in a recession:Dow Jones dropped from 29.4k in February 10th 2020 to 19.2k in March 16th 2020 (lowest in this time period), a 35% drop.Gold went from 1570 in February 11th 2020 to 1487 in March 16th 2020 (lowest in this time period), a 6% drop.BTC dropped from 10.2k in February 11th 2020 to 5200 in March 17th 2020, a 49% drop.In conclusion. While BTC has proven to be a great investment (and I will keep investing in it), so far there is no evidence that it will act against some sort of hedge against recessions or be a store of value. So far, the data we have is that it's behaving like a hypergrowth asset during the biggest bull market in history, but we should be careful suggesting people to buy BTC during times of uncertainty when they think the economy is going down, because there is no historical evidence that BTC will act as a hedge against a failing economy.
Submitted March 29, 2021 at 12:39AM
Submitted March 29, 2021 at 12:39AM
Bitcoin dominance currently sits at 61%. On January 13, 2018, Bitcoin dominance hit an all time low of 35%.
What is bitcoin dominance?Bitcoin dominance is bitcoin's marketcap dividend by the marketcaps of all cryptocurrencies combined. It shows how much value bitcoin has versus the all cryptos combined. This is important because it shows the relative strength of altcoins over time. For most of bitcoin's lifetime (pre-2017), dominance sat at over 98%. Bitcoin was the entire market. But since the first altcoin boom in 2017, it has never come close to that peak again.Why did it happen?There are a few reasons why bitcoin value relative to the rest of the crypto market fell so dramatically in 2017. One major reason was the bitcoin cash fork that occurred in July 2017. Bitcoin cash gained momentum throughout late as the "true" bitcoin because of miner support while bitcoin was suffering from network congestion and high fees. There were calls that "the flippening" was going to occur in early 2018 and there would be a mass exodus of bitcoin supporters moving to bitcoin cash. This never ended up happening and bitcoin cash rapidly fell off after this point.Another reason was that other established altcoins at the time like eth, litecoin, dash and monero had huge rallies and hit their all time highs versus bitcoin. While they are similar prices today against the USD, they are still well off their all time highs vs. bitcoin.The third reason was the first ICO boom. Hundreds of new ICOs hit the market from late 2017 and early 2018. Today we are seeing a similar boom of new ICOs and shitcoins hitting the market.What does this mean?Bitcoin dominance sitting at 65% means that alt season could run for quite a bit longer. If we see another nosedive of bitcoin dominance. Bitcoin dominance going back below 50% would mean that altcoin values would have gained hundreds of billions in value. While the altcoin market has absolutely surged over 2021, its still far from its all time highs in early 2018. I think the altcoin market will continue to boom.
Submitted March 29, 2021 at 02:16AM
Submitted March 29, 2021 at 02:16AM
Changing perspective on "not your keys, not your coins"
I’m a big believer in the “not your keys not your coins” mantra that is popular in this sub. I store almost all my crypto on a hardware wallet, and only keep a small amount on reputable exchanges.That being said, I recently had a conversation with a friend that began to change my perspective on the matter. Essentially, his argument boils down to the following points:The technical details of who “owns” the coins doesn’t matter as much as some people would lead you to believe. The large majority of people just want to earn money from crypto, and at the end of the day most should store them in the place where they are least likely to lose their funds. (Obviously there are exceptions to this rule, for instance if you use participate in DeFi, need your private keys to stake, etc, or actively use your crypto for purchases). You can feel superior by having your own hardware wallet, but if you were told that you were 1.5x more likely to lose your funds, would you still use one?Now that 1.5x number is completely made up as it’s hard to quantify the exact relative risk, but you hear far more stories of people having their keys stolen or lost than of reputable exchanges being hacked (keyword being *reputable*, don’t store anything on shady/small exchanges). Do I trust myself more than a $100B tech company who’s business is dependent on not getting hacked?Furthermore, if you lose your own keys, you’re 100% screwed. If Coinbase got hacked, they have some insurance and would likely try and refund their customers (perhaps in USD), or else they would surely go out of business. And I know some exchanges wouldn’t do this, but the major players have insurance, billions of assets under management, and deep pockets from funding as well.Honestly, I think it was a good argument that made me start to rethink how I store my crypto. I’ll still use a hardware wallet for likely the majority of my crypto, but will consider splitting up my funds more evenly.I fully expect this to be an unpopular opinion on this sub, but I do think the issue isn’t completely black and white. At the very least, storing some crypto on a major legit exchange is a way to hedge against my own stupidity.
Submitted March 29, 2021 at 02:26AM
Submitted March 29, 2021 at 02:26AM
For those who are unclear on big things happening soon in the Ethereum ecosystem, here is a handy timeline!
So, every week I update a post in r/ethfinance which shows the big things upcoming in the ETHosphere. Posting here as hopefully some of you will get a kick out of it too. If you are unsure as to exactly when the long planned Eth2 or scaling upgrades are happening, this post is for you.In the other sub I will post a bunch of context on what has changed this week, but here I'll just present the timeline. Links provided if you want to dig deeper on each project. I realise that it assumes a ton of prior-knowledge about Ethereum jargon, so to intro this, basically there are two big threads happening in Ethereum right now...Firstly, the impending Eth1 / Eth 2 upgrades. These are codenamed Berlin (April), Altair (June), London (July) and Shanghai (late 2021). For those with a little Eth knowledge, the highly anticipated upgrades will be London, which delivers the fee burning, issuance reducing EIP-1559, and Shanghai, which should deliver the Eth1/Eth2 merge, at which point Ethereum fully adopts Proof of Stake (PoS) as its consensus layer. Keep in mind PoS is already live since December, but it isn't until the merge that proof of work is replaced by PoS.Secondly, scaling. Everybody knows that fees on Ethereum are absolutely horrendous right now. In some ways this is a good problem to have as it demonstrates how immensely valuable and used Ethereum is, even at this stage of its development, but that's not to say it doesn't need to be resolved. Ethereum has chosen to take an approach where it scales initially (this year) using rollups technology (of several varieties, as you can see below), to be followed next year by sharding. Launches of rollups solutions are highly anticipated, as are dapp upgrades that implement these rollup solutions (eg Uniswap).A big thing to note is that this list is by no means comprehensive. There are waaaay too many awesome projects being delivered every week in Ethereum, I've just tried to pick out the most notable.Hopefully that makes sense and some find this useful.—THE TIMELINEAll dates are moderately informed guesses by me, and should definitely NOT be viewed as commitments from the respective teams.Q1 (Jan-Mar) 202118 March - Rocketpool final beta. IN PROGRESS.24 March - Hermez Launch. IT HAPPENED! Tether now mintable on Ethereum L2.24 March - Eth1 Berlin upgrade on Rinkby testnet. Final stage of testing prior to mainnnet launch on 14 April. All going to plan!Q2 (Apr-Jun) 202114 April - Berlin - Eth1 upgrade. On track for release.Mid-April - RocketPool live launch. Decentralised staking for all!April - Next stage of Immutable X live launch - Marketplace opening. This is a big deal for NFTs.April - Optimism / DAI initial bridge. First stage towards eliminating 7 day optimistic rollups withdrawal lockup.April - Coinbase staking and stock listing.Late April - Optimism Public Testnet.April - Arbitrum optimistic rollups mainnet (guess by me based on their v4 release candidate announcement)April - zkSync 1.x L2 trading of fungible tokens5 May - Uniswap v3Mid-May - Uniswap goes live with optimistic rollups. This tweet, acknowledged by Hayden, is suggesting 12 MayMay - zkSync 2.0 Public testnetMay - zkSync 1.x NFT minting and transfersJune - Altair - Eth2 beacon chain/clients upgrade, formerly known as HF1.15 June - Go/no-go decision for Hawaii 2022Clearly defined specification for the merge. Spec PR now exists!Synthetix v3 / L2 synth swaps - Phase 1 of the SNX / Optimism transitionConnext P2P Networking releaseStarkNet Planets release. Single-App zk rollupsQ3 (Jul-Sep) 2021July - London - Eth1 upgrade to include EIP-1559 and ice-age delay.July - Optimism Public Mainnet.August - zkSync 2.0 Mainnet release. 20,000+ TPS zk rollups.The Eth1/Eth2 merge production testing.Optimism fast withdrawals via MakerDAO.StarkNet Constellations release. Multi-app zk rollupsArgent L2 scaling with ZK RollupsQ4 (Oct-Dec) 2021Shanghai - Ethereum upgrade to potentially include the Eth1/Eth2 MergeStarkNet Universe release. Decentralised zk rollups.Q1 (Jan-Mar) 2022Ethereum upgrade to include validator withdrawals / post-merge cleanup. Scope fully TBC at this stage.2022 TBCEth2 ShardingEth2 Light Clients21-30 June - Hawaii 2022. Get hype.
Submitted March 28, 2021 at 11:24PM
Submitted March 28, 2021 at 11:24PM
Last week the traded amount in Venezuela only using LocalBitcoin was 69 BTC (Down from 71), that is 7,176,000,000,000 Bs. (Bolivares, local currency, ISO: VES). One BTC is around 105,000,000,000 Bs. Monthly minimum wage is 1,800,000 Bs. (less than 1 USD) and a personal news.
Hi guys, it was almost the same than last week.Around 4,000,000 USD in weekly trades.This is only measured using LocalBitcoin as they publish they weekly date, since months ago Binance opened P2P trade with Bolivares, I suspect a lot of people are moving to Binance.There are other exchanges like AirTM and UPHOLD and even some local ones (with maybe the goverment behind) like Amberescoin and Cryptia.A big part of the population that work for the goverment have a wage of between 1 and maybe 10 monthly minimum wages, yes, that is true. They need to do something else to survive.I think average wage is like 10-15 USD weekly, which is much better but still not enough. A family needs at least 300USD monthly to "live".On a personal note, I got COVID, I did think it was just a flu but days ago I lost my taste and smell. Here there is no easy way of getting PCR test and there is not nationwide vaccine plan, goverment says "f*ck you, save yourself you are in our own". I'm resting and I hope I didn't infect people close (like my parents :().I spend around 40 USD purchasing some medicines (vitamins, acetaminophen and so on) and just to treat it like a flu. MOONS have helped me a lot, even with these expenses (I have to cash out the ones I have soon :()One monthly minimum wage (1 USD) is around:1800 satoshis17 MOONS1.8 XRP19 DOGE0.2 NANODisclaimer: Even when MOONS are nice and have helped me a lot, I don't post these updates for that (Moon-farming) I have been doing that for years a long time ago before MOONS where a thing.Sources (PLEASE check them!!!):https://ift.tt/3rpeefx
Submitted March 28, 2021 at 09:45PM
Submitted March 28, 2021 at 09:45PM
I got "scammed" on Reddit so you don't have to
Friday I got messaged from someone on Reddit with -3 karma. I was pretty confident he was looking to make money from me and I tried to make it obvious up front. But, he persisted and tried to sell me that he has a way of getting me 25% weekly returns minimum. How could I pass that up!Wow! 25% weekly!He linked me to some FOREX trading site and convinced me to sign up. So, I signed up as "Michael Scott". He told me he would mirror the same trades he makes himself on my account... I just need to link him to my account to get started.https://ift.tt/3sxwOCr go on. I feign having trouble with the site and attempt to see if he'll let me send him money directly.https://ift.tt/3daFBUI I refuse to send my ID, he sends me to a new site. This site is even less legit than the first. I decide to upload he profile picture as my verification photo... and soon after he stops talking to me. Feels like I lost a friend.https://ift.tt/2PCiQRa is just a reminder that if anyone has a bot or a trading strategy that produces ungodly returns, they are 99% likely to be a scam. If they can produce 25% returns weekly reliably, they don't need your business.
Submitted March 28, 2021 at 09:57PM
Submitted March 28, 2021 at 09:57PM
Comprehensive List Of The Most Basic Useful Essentials About Cryptocurrency. *UPDATE* v2.0
Hello fellow frienditors, it’s me again.This List Will Contain Some Of The Basics Fundamentals From This Whole Subreddit.UPDATED VERSION 2.0As a celebration of averaging 2,200~ new subscribers daily, and soon beating the 2 million mark, I thought that it will be a good idea to provide them with some useful posts based on this community contributors. Thanks to the more and more useful posts flooding this subreddit, I thought that it would be a great idea, to gather some more useful posts, and to share them with you in this list. I wanted to update the first original post, but I thought that it will not get so much attention for beginners. Not everyone knows how to use the search bar. Bear in mind, that it’s pretty hard to track every useful and helpful posts at this subreddit, that’s why I will accept and appreciate any particular suggestions to what to edit in this post. I am not taking any credits, everything belongs to the original posters of these post. I only collected them for your own good.You don’t have to award me, it’s better to go and thank the OPs of these posts. Go forth and award them for their contributing!From what I’ve read and seen here during my actuation, I’ve managed to dig deeper into the waters of this subreddit, so I can highlight you the most efficient and basic ones. I decided to make a decent comprehensive list about the most asked and frequently asked questions in this subreddit. I suggest you to use this list as a “brain in your pocket”. You can save this list and come back to it whenever you need to.I’ve managed to dig deeper into deep waters to collect as many helpful resources and threads as was possible that were posted here and got a decent positive responses, so you don’t have to waste your time finding them. I’ve collected a decent amount of all the frequently asked things in hundreds of posts but I will try to keep it simple and share here only ( in my opinion ) the most efficient ones.Bear in mind, that these topics can be outdated already and can vary in some aspects. It’s not sure that they are 100% accurate at present, but I will try to pick the best pieces.At the end of every topic, after my short introduction to these essentials in this thread, there will be very decent, helpful, informational, deeper links to posts that are describing the talking threads in depth.CRYPTOCURRENCY IN GENERALIf you’re here, you probably should already know what is cryptocurrency. If not, then here is the short simple answer: Cryptocurrency is a digital currency that can be used to buy services or goods. It can be used as a store of value. Cryptocurrencies are using strong ledger which is securing online transactions. This makes it literally nearly impossible, impenetrable to counterfeit. There are currently over 8.700~ cryptocurrencies listed on CoinMarketCap.For the newcomers: the top 50 Cryptocurrencies, each explained with one sentence. - u/LayneeeeeTop 101 Coins Grouped by Usage/Purpose - u/CrabCommanderTop 25 cryptocurrencies - 3 Pros, 3 Cons - u/pippiusSome interesting facts about the top 15 cryptocurrencies - u/LivingThings37The ultimate guide to earning passive income with cryptocurrencies - u/Weaver96List of 43 countrys and their cryptocurrency regulations - u/steavus5 ways to generate passive crypto, what is and what isn’t worth the time - u/kissing_the_beehiveWhat you need to know about Decentralized Finance - DeFi - u/Ameri-CantBeWrongDYOR - Do Your Own ResearchDYOR. Yep, you probably saw this acronym many times in this subreddit. In short, “DYOR” (not Christian) means that you should never, never and never trust an any other company, people, project team or anyone else without proper verifying of the information that they provided for you. Always compare their suggests to your OWN RESEARCHES.Nobody will tell you truly, how to get rich. They want to make rich off you !Beginners guide to researching crypto projects - u/cryptogrowthHow to Find Assets BEFORE They Are Popular - u/BTC2018A Guide On How To DYOR “Do Your Own Research” In An Effective Manner - u/GoldenRain99To all the new folks getting into crypto: Do not, I repeat, do not buy on Robin Hood. - u/wolfmangpuckI created a tool to better understand market cap potential of alt coins, because I needed it myself for my research. Published it as a website for anyone to use. No ads, no BS. - u/lovinglyhandmadeA break down of the bull case for Ethereum and how it relates to Bitcoin - u/TheWierdGuyBeginners Guide to DYOR (Do Your Own Research - u/Weaver96Everyone talks about DYOR - How to DYOR - u/calvintheidiot10 Great Crypto Research Sites And Tools - u/ser_antoniiYouTubers as part of DYORSome of us are watching YouTube, to do his own DYOR, to lean one someone’s else’s opinion, to find a motivation, to learn more about projects. When you don’t know where to look for research, YouTube may came to your mind. While some of the YouTubers are providing some good Technical Analysis, others are making use of their own subscribers for their own good.Crypto Youtubers Tier List - u/anasshmTo YouTube Clickbaiters - Don’t toy with us! -u/liau_We should be here for newcomers, because YouTubers certainly aren’t - u/KawaleleWALLETSA wallet is a important thing to own when you’re working with cryptocurrencies. A crypto wallet can be device, program or a service which is storing your keys or seed. These keys or seeds are being used to verify yours transactions in order to prevent someone else from using your cryptocurrencies. You can store in them your cryptocurrencies pretty much totally safely, or even your FIAT.A Beginners Guide to Cryptocurrency Wallets - u/Weaver96Things you NEED to do when you first receive your hardware wallet - u/plokij24Ultimate Staking Guide 2021: Overview of Best Crypto-Projects to Stake with PoS and DPoS “Profitability, User Experience, Low-Risk - u/icysxCryptoWallets - Which one should you use - u/good-as-helixMOONSOur dear sweet MOONs. MOONs has been created as this /cc subreddit points and they can be used for exchange to FIAT or any other cryptocurrencies, buying Reddit premiums or even for tipping someone ! It can pay your bills too! Reddit moons have paid for my bills two months in a row by u/AvidasOfficial . Or even they can pay your debt ! I sold my 78k moons to pay off my debt! by u/Wulkingdead . MOONs are practically community points what all of us can use, earn on this subreddit. You can buy them too!The Great FAQ about Moons, Community Polls, Governance and more - u/DivineEuReddit MOON info for newcomers - u/nanooverbtcWhy MOONs are mooning, plus some resources - u/LarkinzQuestion about MOONS? Did i missed the party? - u/birolataFull Guide to buying Reddit Moons on Honeyswap - Hopefully this saves people trouble going forward. - u/LargeSnorlaxFAQ, Sell, Buy, Governance. 4 guides about MOONs - u/DivineEuEXCHANGESSimply, Exchanges are Platforms. Platforms that we’re using every day to trade our cryptocurrencies for other assets, including either FIAT or digital currencies. They act as intermediary between the seller and the buyer. For this job, we’re paying them the transaction fees or commissions.Robinhood blocked several stocks from being bought. They locked the buy button when it suited them. Don’t buy Bitcoin on RobinHood. The dust has settled, but we remember - u/jackvillesA beginners guide to limit orders, stop orders and stop limit orders - u/pseudoHappyHippyBe careful not to deposit your crypto into any exchange before seeing their KYC terms or else they may Freeze your withdrawal with excuses - u/chilledmyspineHow and why exchanges are manipulating the price in order to capitalize on the new market dynamics - u/arsonbunnyA beginners Guide to Cryptocurrency Exchanges - u/Weaver96Keeping your coins at exchange might be the best thing for you - u/CarbonatedInsidiousBeware: If you’re using Robinhood to buy cryptos, you’re doing it wrong - u/Such-Fig-3879Dollar Cost Average (DCA)It is an investment strategy/technique in which an investor is spreading his crypto, stock or fund purchases. It’s a strategy where you’re buying at regular intervals ( weekly, monthly, every other week etc. ) with a roughly similar equal amounts of money. It aims to reduce the volatility and minimize risk.Stop trying the market, DCA FTW - u/Nexul1“Buy The Dip” Isn’t Often What It Seems - Why Dollar Cost Averaging Can Be A Smarter Choice - u/calvintheidiotDollar Cost Average “DCA” spreadsheet to help with research, “mostly for newbies” - u/FrontHandNerdIf you’re young, then you should hodl, not trade - u/walkinthepark01Its not too expensive, and you’re not too late - u/Weaver96DCA - What is "Dollar Cost Averaging"? Why You Should DCA, What is my DCA strategy.. - u/DivineEuOTHER EDUCATIONAL THREADSA collection off all the possible ways to earn free Crypto - u/LayneeeeeI will tell you exactly what is going on here, this is critical information to understand if you’re going to make money in this space. How prices work, and what moves them - and it’s not money invested/withdrawn - u/Suuperdad ( 3 yrs old thread but still relevant )20% dip? Looks pretty normal to me - u/bose25How a became a millionaire using crypto technical analysis and here is a guide - u/steavusSell walls: What they are, what they do and how to spot them - u/Tilted_Till_TuesdayMost used abbreviations in the cryptospace “newbie guide” - u/JeremyklaFUD (fear, uncertainty, and doubt) for the top 20 coins and why you should be aware of it - u/liau_Pump And Dump Schemes. What They Are, How To Avoid Them - u/Anhowa123DeFi Explained: Smart Contracts - u/Fantastic-Cucumber-110.NFT Madness - What they are and what they are not - u/CrabCommander11.This is what happens to Bitcoin when options expire - u/TheGreatCryptopo12.The Ethereum Value Propisition: Beginner Guide - u/etheraider13.Inflation and Crypto - A detailed analysis - u/Ameri-CantBeWrongI would like to ask you kindly to suggest some more USEFUL threads or links in the comment section below.NOTE TO ALL :This Comprehensive List Of All The Basic Useful Threads should only be used for an educational purposes ONLY. I am not forcing anyone to listen, read and use these posts for your present and future investments. In my opinion we should learn from them. Otherwise, use this list as a white paper/ starting point on your journey, not as your “get rich quick scheme” or “business plan”.I am not a financial advisor. I am not taking any responsibility for the things that were showcased.
Submitted March 28, 2021 at 07:19PM
Submitted March 28, 2021 at 07:19PM
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