Crypto.com reminds me of the Amazon, Facebook, or Google of the Crypto world. They are spending billions on advertising, they are clearly in it for the long haul, they have great name recognition. I have no doubt they will throw their entire bankroll behind big names to lead their different departments.They will buy up smaller start up technology and continue to put huge amounts of money into anything they do. They seem incredibly proactive and on top of things.Having said that, is there any reason that Crypto.com would thrive but the CRO coin would fail? Doesn't seem like they would let it wither away if they as a company are doing great, which they seem to be at the moment...
Submitted February 01, 2022 at 02:57AM
Bored Ape Yacht Club NFT Sold for $2.85 million in ETH
https://ift.tt/UDBm8hIFW
Submitted February 01, 2022 at 01:25AM
Submitted February 01, 2022 at 01:25AM
GoFundMe has frozen $4.5 Million in funds collected by protesting Canadian Truckers. Why anti-government protestors use centralised censorable payment systems over decentralised platforms is beyond me
Canadian trucker convoy raised over $4.5m but all of that was frozen by GoFundMe.https://ift.tt/eJQ4AwYnR payment rails can easily be censored by governments. Using them is literally asking to get de-platformed. Not just this time around, GoFundMe has a history of freezing users funds for a number of reasons. Its just similar to PayPal where you have to jump through hoops just to access the funds sent for your cause. They may not overtly admit it, but a company like GoFundMe must be under a lot of pressure by governments to freeze funds that are meant for anti-government protestors.If crypto is too volatile for them, they can use decentralised stablecoins to raise funds. Something like DAI can be most useful in this scenario - it cannot be frozen, and can be easily exchanged for fiat. Protests are completely legal in most jurisdictions and these protestors have said they will be using the funds for fuel, food and lodgings in taking part in the convoy - all of which is legal. With a crypto credit card, they can spend their DAI or any other coin for all their activities.Why they dont prefer using crypto payment rails over GoFundMe is bewildering. Maybe crypto platforms need more awareness.
Submitted February 01, 2022 at 12:52AM
Submitted February 01, 2022 at 12:52AM
U.S. lawmakers traded an estimated $355 million of stock last year. These were the biggest buyers and sellers. Must be nice to have the inside track, and make money on it, without consequences.
https://ift.tt/ZLO6QXRF8
Submitted February 01, 2022 at 12:49AM
Submitted February 01, 2022 at 12:49AM
US Senator Wendy Rogers Introduces Bill To Accept Bitcoin As A Legal Tender In State Of Arizona
https://ift.tt/1SCYaiyXn
Submitted January 31, 2022 at 11:42PM
Submitted January 31, 2022 at 11:42PM
I sold everything that I don’t 100% trust in
There is no denying that we are in a very delicate times when it comes to crypto (and stocks) market. Volatility is here and no one knows where it’ll take the market.Now is a perfect time for rebalancing portfolios and pumping out of short term gains into long term projects that have strong foundations and can survive the winter.If you trust a project, 100% believe in it, its easy to hold through the volatility and fud. I have seen shifting my assets from low capped coins that were showing good profits into mainly ETH and BTC. Why? Because sats. During winter one should always focus on grinding the sats.Rebalancing is imho one of the things that many dont do and later regret it. Be safe my lovely people
Submitted January 31, 2022 at 10:44PM
Submitted January 31, 2022 at 10:44PM
I don't want crypto to make me one of the elite, I just want money to no longer be a source of fear and anxiety for me.
I've seen a lot of people giving big promises on crypto's future, promises that I'm sure could become true. All about how in 10 years our holdings will multiply exponentially. How people who hold and keep going with crypto will become millionaires and one of the elite and all that jazz.And while that may be true, I personally don't have an interest in that like so many investors seem to have, both in crypto and in stocks. For me, money in itself isn't the goal, and I feel like it shouldn't be for most people. I don't want to be "at the top 1%". I don't want to be above anyone. I just want money so I can live my life without fear and anxiety, so I can do the things I've always wanted to do and support those I love, enjoying life to the fullest.When you're in crypto, always remember your goal. The point at which you'd be willing to pull out and use that money you gained. Remember, we're not immortal dragons, sitting atop our pile of gold ain't gonna bring us any happiness if we die without spending any of it.Life is there to be lived and enjoyed, and that, to me, is what crypto can offer me. Freedom.
Submitted January 31, 2022 at 11:55PM
Submitted January 31, 2022 at 11:55PM
Interest in Shiba Inu seems to have dried up completely
A few months ago, the meme-coin Shiba Inu (SHIB) was pretty much in the spotlight. The cryptocurrency rose astronomically within a short period of time, and crypto investors' interest in the project was gigantic at times. Shiba Inu even made it into the top 10 largest cryptocurrencies. However, the price of Shiba Inu has since plummeted, and the hype and interest surrounding the project seems to have completely evaporated as well.Google TrendsIn fact, last year Shiba Inu was so popular that it topped CoinMarketCap in terms of searches. Also on the Google, there was a huge search for, for example, "Shiba Inu" or "Buy Shiba Inu" all over the world.However, this search volume on Google has totally dried up in the last 90 days. Google Trends shows that a peak in terms of interest was reached on October 29 last year. Since then, this search volume has plummeted by a whopping 92%!https://ift.tt/rlESyxF5s Inu PriceThe price of meme-coin did not manage to perform much better in recent months. Since the all-time high set at the end of October 2021, the SHIB price has dropped more than 75%. In fact, at the beginning of January, Shiba Inu's market capitalization plummeted by more than $3.5 billion in just one week.Although the team at Shiba Inu is still working hard behind the scenes to get the project back on track, this seems to have become quite a task. Here and there SHIB still gets listed on a new crypto exchange, but the extreme price appreciation we saw in the past seems to be a thing of the past so far.Of course, Shiba Inu is not the only cryptocurrency that is performing poorly at the moment. Due to the high uncertainty in both the crypto and equity markets, most cryptocurrencies are deep in the red. Nevertheless, the demise of SHIB can be called an outlier.Edit: Shib holders and fans, stop attacking me for pointing out your coin has had its day and people have moved to the next Doge/Shib, jeez, chillax and accept the bad investment choices you made
Submitted January 31, 2022 at 03:36AM
Submitted January 31, 2022 at 03:36AM
[PSA] We should do something for todays HALF MILLION lost tragedy to NEVER EVER happen again.
Manual cross post for Original post at r/ethereum.r/Ethereum Today's Headline, The Original Post of Said TragedyTL,DR: We should start a campaign, here is our appeal:All wallet software orienting average user, shall ban the action of, or give the scariest warning it can give if the user initiates a tx that directly calls transfer function to a Contract address.We should promote and accelerate the deprecation of raw ERC-20, and the wider adoption of newer, more robust and fault-proof ERC-777 and ERC-1555 standards.No matter what role you are playing in the scene - Blockchain developers, DeFi users, NFT hodlers, investors, today's tragedy is a serious alarm to us all that, Ethereum, along with many other blockchain technologies, are yet to be fully fledged for mass adoption.This is fully understandable because the nature of new technologies is, no matter how many work we do to make the design perfect, it needs to be tested in the field first for problems to be reveal and fixed.ERC-20 token standard is one of them, it's such a classic standard with long history and a whole ecosystem built upon it, but we all forgot that the philosophy behind its design is still immature, leading to serious loophole and design failure.Sending ERC-20 token to any sort of Smart Contract is pointless and exceedingly dangerous. In usual business logic, if user want a certain smart contract to have certain token, what they should do, and the way the Smart Contract should absolutely implement is: user approve in ERC-20 token contract first, then you make user to call a function exposed by your Contract, in the function, your Contract calls transferFrom function on ERC-20 Token Contract, so that your contract is aware of this transfer.An ERC-20 transfer function call, to ANY CONTRACT ADDRESS, initiated by END-USER (EOA address), is POINTLESS and will ALWAYS result in PERMANENT, UNRECOVEABLE TOKEN LOSS.Today's tragedy is caused by collective effect of many factor: The nature of Ethereum that all addresses look the same; Lack of user education on smart contract (I see why people blaming weth.io on this, it's fully reasonable, today's victim might came up with the idea him/herself that: hey I send ETH to the contract, got WETH, now I send WETH back, ETH back, that's what the GIF on weth.io says! completely not knowing what's under the hood, the anonymous fallback function and etc.). Lack of on-chain logic checking and preventing this (it would cost everybody's gas).But the most unforgivable factor is the NEGLIGENCE of wallet software: ZERO warning upon sending ERC-20 token to a Contract Address, on the UI I just saw "Contract interaction: Transfer", and I'm good to go! To PURGE ALL OF MY HODLING with single mouse click!That's not how fault tolerance/fault proof should be done - to be honest, that's zero fault proof.Green across the board, we are good to go right? POOOOF, SNAFU, a poor guy's life saving gone.This issue has been around for years, and of course, everything on chain is accessible, etherscan.io can tell if an address is a contract, Infura can tell if it's a contract. But metamask, ledger live, xxx wallet and etc cannot tell if the address in the text input is a contract.So, once again in the end, We should start a campaign, here is our appeal:All wallet software orienting average user, shall ban the action of, or give the scariest warning it can give if the user initiates a tx that directly calls transfer function to a Contract address.We should promote and accelerate the deprecation of raw ERC-20, and the wider adoption of newer, more robust and fault-proof ERC-777 and ERC-1555 standards.
Submitted January 31, 2022 at 12:22AM
Submitted January 31, 2022 at 12:22AM
Trying to explain crypto to nocoiners is like in the film Idiocracy trying to explain that water is for crops and not just toilets.
Title says it all, it is so hard to explain to anyone about crypto. They all just treat you with deep suspicion and repeat the same pre-programmed lines back to you from the banking and media industries.You guys handle your own currency transactions? You mean that magic internet money?It's like, you want decent interest returns for holding your money and lower fees on transactions? Yes! Then stop using the middle man of a bank and start using crypto and stop letting your money get eroded by fees and inflation........But banks are safe for my money, I have a savings account with 0.0000000% interest!Banks! It's got what you crave! It's got interest!*You don't have a savings account with a bank you have lies, they give you a few $$s here and there while they are making huge investments out of your money AND the inflation is actually depleting your savings account even more money. They should be called deflation accounts and not savings accounts!Yeah we decided not to have any children because we cannot afford to now that we let all our money deflate to near zero value instead of investing it in the future of financeOf course I have to add not to dump ALL that you have into the nearest shitcoin and wait for 'those lambos' to arrive but people that aren't invested at all in crypto or who paper hand out at the first dip are going to seriously regret it down the road! Those that become their own banks and handle their own finance are going to have significantly more wealth the longer we go while those that let the middle men of banking horde their money will find they have nothing left!
Submitted January 31, 2022 at 12:07AM
Submitted January 31, 2022 at 12:07AM
Illegal gold mining causing record mercury levels in Peruvian Rainforest - And they say BTC mining is damaging to our climate…
https://ift.tt/CNuRLI0k2
Submitted January 30, 2022 at 10:45PM
Submitted January 30, 2022 at 10:45PM
Everybody looks forward to a massive crypto bullrun, but nobody talks about the terrifying prospect of cashing out and then your bank freezing your account and stealing all your money
I read about this occasionally and it keeps me up at night. People cash out their long-held crypto at an enormous profit, but as soon as they exit stable coins and transfer fiat into their bank account, the bank freezes the account for 'suspicious activity' and sometimes never gives it back.What is the best way to avoid this outcome? My wife and I plan to buy a house in the next year or so, depending on the market, and I'm absolutely terrified that if I make a large transfer from a crypto exchange into my bank account, the bank will simply go 'this belongs to us now, go fuck yourself!'For those of you who have cashed out in the past, how'd you do it? What was your experience?
Submitted January 30, 2022 at 11:07PM
Submitted January 30, 2022 at 11:07PM
Anybody feel like celebrities are not paying for the Ape NFTs??’
I have seen all over the news of different celebrities paying exorbitant amounts for the Ape NFTs and it just feels super inorganic and forced.There are many celebrities that have supposedly bought these NFTs and now have changed their profile picture to the Ape they own. Some of the prominent ones include Future, Lil Baby, and Jimmy Fallon all spending 500K+. And while I don’t doubt they couldn’t afford it as they are all obviously multimillionaires. I do not believe they are actually buying them.My working theory is that they are simply getting them for or even getting paid to market these NFT’s and it’s just the NFT owners wash trading between their own ETH wallets to create Artificial demand and contribute to the price inflation.The most recent one I saw was Justin Bieber buying an Ape NFT for around 500 ETH (over 1 million USD). When the base price of the NFT was 250K.I refuse to believe celebrities at their own willingness are overpaying for these. Once again I understand that a celebrity like Justin Bieber could in theory afford to throw a million at something like this. But just doesn’t seem like something he would rationally do without ulterior motives.Welcoming any thoughts people have on this? Just want to disclaim I am not against NFT’s and believe the tech and potential of it is amazing, but the current use case is absurd and indicative of a artificially inflated bubble(this is coming from someone that made a few ETH flipping NFTs)
Submitted January 30, 2022 at 10:25PM
Submitted January 30, 2022 at 10:25PM
Daily Discussion - January 30, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrency Telegramr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 30, 2022 at 07:00AM
Submitted January 30, 2022 at 07:00AM
How to avoid telling parents I put 1.4K into crypto
Here’s something for some creative answers. So I recently put £1.4K into crypto coins I believe I think will have a great 2022 and now my parents are wanting some of that money which I don’t have because yknow it’s in crypto.So What’s some good ways they’ll understand, because even though I’m confident in my current investments they for sure will not support it lol as they have no clue how it works and will think I am just throwing my money away. Thinking of just admitting and taking the beatings as they come 😌EDIT: It’s my own money not theirs
Submitted January 30, 2022 at 04:41AM
Submitted January 30, 2022 at 04:41AM
Anyone else here not giving a single f-ck about this crash?
Is there anyone else here who is not, even slightly moved by the recent crash? I sleep like a baby while my portfolio is going down. Why? Because I strongly believe that we are still at the beginning ot this long journey. If you are someone who believes in crypto patience is the key. Im not a gambler. Im an investor. And as an investor, holding the assets that you truly believe in, is much easier during volatile times.Gamblers who threw in a massive portion of their bank accounts and see them going down in a few days are likely angry or already moved on.I cant help but feel perfectly fine despite the volatility. Id be lying if I said that Id be happier to get more sats for less fiat but keep that dca on dips and itll pay off in the end
Submitted January 30, 2022 at 05:19AM
Submitted January 30, 2022 at 05:19AM
Crypto.com says 1 billion people will invest in Cryptocurrencies by the end of 2022. "This year is going to be the first year where you cannot say cryptocurrency is not mainstream anymore".
https://ift.tt/YhbICQrlt
Submitted January 30, 2022 at 03:19AM
Submitted January 30, 2022 at 03:19AM
Here is what would happen if someone invested every month at the highest price since 2016.
Scenario:Lets say you have a friend, call him buy-high Chuck, because he has a nag for buying crypto at the highest price every month. Say he invested 500 dollars split between bitcoin and ethereum every month since 2016. What would be the end result?Method:I used coinbase api so data was only available since 2016, Jan. For each month I find the highest price and bought 250 USD for BTC and ETH and held it until today's closing price.Results:the monthly results are really long and I will post a link in the comments.Here is the summary table though. ETH-USDBTC-USDTotal_earned$ 592,735.26 $ 263,770.86 median_by_month$ 1,803.15 $ 777.90 max_per_month$ 75,412.06 $ 21,885.08 max_per_month_ptc301658754min_per_month$ (116.35)$ (110.65)min_per_month_ptc-46.54-44.26In summary,A 500 dollar split in half between ETH / BTC, bought every month at its highest price, would total about ( $856,506.12) The most that was made with 250 dollar investment is (75,412) for ETH and (21,885) for BTC . This occurred on 2016-12 and 2016-03 respectively, while the lowest ( max loss), is (-116) dollars for ETH and (-110) dollars for BTC. Importantly the median return for a 250 dollar investment is 1,800 for ETH and 777 for BTC.Plot: total earned per 250 USD investmentsthis should be logarithmic but its would obscure the priceTLDR : buy-high Chuck who invested at the highest every month, 500 dollars split between ETH and BTC would had have about $856,506 USD in his portfolio. Not bad for someone who has a nag for buying at the highest.PS: let me know if you have an idea for some number crunching and I will see if I can do it.
Submitted January 30, 2022 at 02:12AM
Submitted January 30, 2022 at 02:12AM
We r/CC podcast tomorrow night at 6pm ET and first monthly NFT roundup show at 8pm ET
Just a quick reminder that tomorrow evening there will the third weekly We r/CC market roundup podcast at 6pm ET / 11pm UTC hosted by Tom Crown u/TCr0wn and Mr Papi u/1_BigPapi. You can catch their previous episodes here:https://ift.tt/tx9UnJN36 tomorrow night I will be hosting the first monthly NFT roundup show at 8pm ET. We will quickly go over some of the biggest news from the last month or so and then have some guests on to discuss what they've been up to lately and their perspective on things. For our first show the guests will include:Bored Becky from Fame Lady SquadPablo Stanley founder of RobotosMichael Yamashita from National GeographicCarty Sewill founder of Art101 and Patrn.meDerrick from Mintable.appNFT.go to discuss NFT rarityBoth shows will be broadcast both via reddit talk here and on a stage in our discord server, and both will last ~1 hour.
Submitted January 30, 2022 at 03:00AM
Submitted January 30, 2022 at 03:00AM
In 2021, the SEC went after crypto. In 2022, crypto is coming for the SEC. Ripple has started to rack up procedural court victories as it fends off the SEC in a case that could redefine how the agency polices digital assets
https://yhoo.it/3G9PmP9
Submitted January 29, 2022 at 07:50PM
Submitted January 29, 2022 at 07:50PM
‘I made $4m profit on crypto, but the bank won’t let me spend it’
https://yhoo.it/3o605UU
Submitted January 29, 2022 at 09:48PM
Submitted January 29, 2022 at 09:48PM
Data Shows Young Crypto Addresses Sold 36% of Their Holdings at a Loss in the Last Month
https://ift.tt/3HbuXdT
Submitted January 29, 2022 at 07:00AM
Submitted January 29, 2022 at 07:00AM
Daily Discussion - January 29, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrency Telegramr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 29, 2022 at 07:00AM
Submitted January 29, 2022 at 07:00AM
Bidens executive order, America competes and a history lesson about AmericaExecutive Order 6102
https://ift.tt/3AEQJnU see a lot of folks talking about Biden's Executive or next month, America Competes Act and the CBDC's being provisioned.If crypto wasn't seen as an issue it wouldn't need an executive order.TLDRThe Government is whack and President BLunder is about to use an executive order to come after crypto. History tells us that this can be pretty extreme if we reference what Roosevelt did with Executive order 6102; to confiscate gold.With out question this is being sold as a matter of national securityhttps://en.wikipedia.org/wiki/Executive_Order_6102****To be clear I am not saying they are coming to confiscate crypto, I am saying they are coming to regulate the shit out of it. IT compete with banks, it competes with wall street, it competes with the federal reserve, it competes with the IMF***Here is how screwed up the use economy is (each with definitions and explanations for those who want to learn):Let's be very clear the American and world economy is on the brink of complete collapse.The synthetic CDO's of 2008 were never fixed, they gave banks moneyhttps://http://www.youtube.com/watch?v=EEXTqtH-Oo4The student loan crisis cant be fixed because of an investment tool like the above called SLABShttps://https://ift.tt/3g6Iw2t is causing massive supply chain issues so sales and manufacturing cant recover * if we can sell stuff and there are shortages the price will rise and wages will drop.**https://ift.tt/3AKd2IT is recking the world economyCovid is going to endemic status but may evolve to get worse.Wall street is using the Federal Reserve as a piggy bank and the fed is using the Plunge Team to stop the financial collapse. Repos and reverse repos are at a record high as hedge funds are over-leveraged and in the extreme Red.https://www.youtube.com/watch?v=I9UIumKX7MwWhat is the plunge teamhttps://www.investopedia.com/terms/p/plunge-protection-team.asp_______________________Empires don't invade other countries to control people they do it to control economies and resourcesThis includes pillaging their own:Its imperative to remember that the USA gave US citizens 1200 bucks and small businesses a fractured 2-time ppp system that was highly flawed but bailed out major corporations and banks at 120 billion per month.SO I dont know what to expect but I can tell you Executive order 6102 led to the confiscation of US citizens goldExecutive Order 9066 This post-Pearl Harbor order, now infamous, gave the military the ability to mark out areas from which it would be possible to exclude “any and all persons.” The upshot of this move was that more than 100,000 Japanese-Americans and Japanese immigrants were sent to internment camps.Executive Order 10340 This order directed the Secretary of Commerce to “take possession of” American steel plants. The order put to rest a threatened strike . Steelworkers striking was a "threat" to national security.https://www.trumanlibrary.gov/education/presidential-inquiries/steel-strike-1952Executive Order 13228 established the department of homeland security and turned America into a terrorist-fearing hell scape and took tax dollars and gave them to military contractors in mass._______________________________China, Russia, Iran, and North Korea are all being used as threats to roll out this new executive order to preserve the economy.https://preview.redd.it/08fjzg7q1ie81.png?width=1876&format=png&auto=webp&s=9df4d77607141baf5b1de22b150d08c16c243fe5https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-117HR4521RH-RCP117-31.pdfhttps://preview.redd.it/jbrcihmx1ie81.png?width=2048&format=png&auto=webp&s=475ff52e8c978278411626a76dee2b57e0725d96I will leave on this final note. There are 2 ways to enforce policy in the USA; Legislation and litigation. If you don't have laws for a situation (legislation) you go to litigate ( go to court) and get a precedent using older or other laws.The SEC is currently losing badly against Ripple in court. ( They wont get a precedent) So they are turning to litigation (create new enforceable laws). Ripple is designer really to send VERY LARGE transactions instantly across the planet.This directly competes with the CBDC and the Fednow Instant payment system coming out.https://ift.tt/3KLR7FQ is an instant payment service for countries and large businesses (banks, hedge funds, etc)https://ift.tt/32Lzkh2 IMF and Federal Reserve is looking to replace the ACH and payment systemsCrypto and block chain systems make RTGS and ACH old outdated techhttps://https://ift.tt/32H8Tcj are funds transfer systems where the transfer of money or securities takes place from one bank to another on a "real-time" and on "gross" basis. Settlement in "real time" means that payment transaction does not require any waiting period. The transactions are settled as soon as they are processed. "Gross settlement" means the transaction is settled on one to one basis without bunching or netting with any other transactionComparatively, ACHs are typically used for low-value, non-urgent transactions while RTGS systems are typically used for high-value, urgent transactionshttps://en.wikipedia.org/wiki/Payment_systemThink of all those poor clearing houses and companies getting a % cut that will be wiped out._________Get ready for craziness and cheap crypto.I am buying up all privacy coins Monero, Dash etc as an investmentLearn how to use a VPN, Linux is your friend ( Microsoft snitches), and encryption doesn't hurt._____Edit:TO all those upset about politics, when politics comes after my crypto.... I get upsetTo those attacking my character:I am not a right wing conspiracy theorist. I do not want to be doomed to repeat history.You using an Ad Hominem attack, this is a misdirection and doesn't talk about the subject matterAd Hominem(Attacking the person): This fallacy occurs when, instead of addressing someone's argument or position, you irrelevantly attack the person or some aspect of the person who is making the argument. The fallacious attack can also be direct to membership in a group or institution.To those saying the Biden Camp may support crypto.I say you may be right. Its almost possible they would spend 3 months preparing an emergency executive order to regulate a multi trillion dollar industry they adamantly support.The federal reserve and IMF will just sit back and lose control of the money system and allow the world populace decentralize payment protocols and do nothing. They may just relinquish complete control with out a fight and forgo tariffs and sanctions as a punitive system in Geo politics.Read herehttps://blogs.imf.org/2021/10/01/crypto-boom-poses-new-challenges-to-financial-stability/https://ift.tt/3uaddMw seems like they are going to do nothing and will just let control of the worlds system.This is Geo politics and its bigger than John Doe not paying taxes. Its about Russia and North Korea buying weapons, and sanctions not working.https://ift.tt/3G9nA5C about the US Dollar not being a reserve currency and the Petro dollar breaking down.The US dollar used to be pegged to gold ( Nixon Changed that) and all other world currency was pegged to the US Dollar. This was established in the Brenton Woods Agreement and System of 1944 https://www.investopedia.com/terms/b/brettonwoodsagreement.asp
Submitted January 29, 2022 at 04:51AM
Submitted January 29, 2022 at 04:51AM
Arizona has introduced legislation to make Bitcoin legal tender.
It appears that a bill has been put forward in Arizona to make Bitcoin legal tender within the state.You can find the full document in here: https://ift.tt/3r79RrF should wait for further confirmation, but it's on the page of the Arizona State.I don't know how this would affect the current status on AZ, and neither if this is an unconstitutional move by Arizona.This is some bullish news.AZ bill.Now hits is just for the 500 characters so this post won't get deleted. Anyways hope you're having an amazing week and that you keep stacking those sats, also hopping that you don't run out of fiat anytime soon, and that you bought the dip these past days.Edit: It's official now, you can watch more of the official documents in here.https://ift.tt/3Hac1MQ Search for Bill: 1341Also Here: https://www.azleg.gov/getCurrentPDF/?doctype=C&docid=19919
Submitted January 29, 2022 at 01:38AM
Submitted January 29, 2022 at 01:38AM
Today, I just bought 2000$ of Bitcoin at $61500.00
Beginning of november last year, I had the brillant idea of enrolling my mother into crypto. Besides all the warnings from /cc subs, I've decided that my mother need's to be part of this crazy FOMO, because, well I was up high in the GREEN and it was impossible to stop that train. "Don't worry mom, I'll put a sell order, you will never lose your investment and I'll keep your Sats in my wallet, bla bla bla"Winter came and as you know, prices keep falling and falling.. I was getting worried, not for my personnal stash, but for my dear fragile mom. What if she decided to check the price today? "Nah, she will not look, she never look" I said to myself... But guilt was hanging over my head.Today, I've had enough, i've pulled the plug. I took a 2000$ personnal loan at 12% interest and transfered the total cash amount to her checking account. "Yeah mom, Bitcoin is down, but I've sold it before, hehe!! Sorry it didn't went up, here's your investment. Love you, mom"And voilà! 😑 Follow me for more stupid transactions.
Submitted January 28, 2022 at 11:06PM
Submitted January 28, 2022 at 11:06PM
Robinhood posts $423 million net loss, shares sink after hours
https://ift.tt/33XV0Hg
Submitted January 28, 2022 at 07:53AM
Submitted January 28, 2022 at 07:53AM
America COMPETES Act of 2022 and the announcement of the CBDC plus Bidens upcoming executive order
So these CBDC's will be really bad news.I went through the last proposal so you didn't have to.TLDR:In short, they want unilateral power over money and to maintain control of global economies. They also fear Russia China and others are using crypto to skirt sanctions.They want complete control to spy and freeze funds in everyones accountshttps://www.telegraph.co.uk/technology/2019/01/14/russia-plans-tackle-us-sanctions-bitcoin-investment-says-kremlin/If you stack this with the America COMPETES Act of 2022 which gives the TReasury unchecked and unilateral power to spy and halt or limit accounts and transactions.Here are some screen shotshttps://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdfhttps://preview.redd.it/xkfj0sqmyae81.png?width=2158&format=png&auto=webp&s=c795ff1a7b9012e2d085dc97897b46896ddaa927https://preview.redd.it/dsy69lgryae81.png?width=2022&format=png&auto=webp&s=59dee7fdc7f6bad0d3a185e1c5c597fde7005ff2https://preview.redd.it/nhlvgd2uyae81.png?width=2079&format=png&auto=webp&s=e9e985dfb9166b612c95a61528d13a31dfdfe1c6https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-117HR4521RH-RCP117-31.pdfhttps://preview.redd.it/bugsisp70be81.png?width=2026&format=png&auto=webp&s=a7099b9d3a6d32cff8e6bf7b61cda3319a3d3d7bhttps://preview.redd.it/9cuncbhg0be81.png?width=2152&format=png&auto=webp&s=d2b06506058c9f5148e28a1a276691b09b716b00here is a little piece about concerns on Russia and Chinahttps://ift.tt/3gaAUvH NOW is a service that directly competes with XRP and will also be wholly controlled by the Federal reserveLastly Biden will be using an executive order to provision and issue crypto rules next monthThis will be done under the banner of national securityhttps://https://ift.tt/3H3aPe1 executive order is a signed, written, and published directive from the President of the United States that manages operations of the federal government.Executive orders are not legislation; they require no approval from Congress, and Congress cannot simply overturn them. Congress may pass legislation that might make it difficult, or even impossible, to carry out the order, such as removing funding. Only a sitting U.S. President may overturn an existing executive order by issuing another executive order to that effect.https://ift.tt/3cGYwp5
Submitted January 28, 2022 at 05:14AM
Submitted January 28, 2022 at 05:14AM
Daily Discussion - January 28, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 28, 2022 at 07:00AM
Submitted January 28, 2022 at 07:00AM
US People - Please tell your Congresscritters to vote against America COMPETES Act
Jerry Brito, executive director of Coin Center, outlined his issues with the bill in a lengthy thread on Twitter on Wednesday. The exec of the D.C. crypto think tank warned that the provision would “essentially give the Treasury Secretary unchecked and unilateral power to ban exchanges and other financial institutions from engaging in cryptocurrency transactions.”https://www.protocol.com/bulletins/america-competes-act-crypto?share_id=6887159https://twitter.com/jerrybrito/status/1486349099314130952Just another bought politician sneaking in a "small" hidden provision in a large bill.Crypto lobbying groups are worried about a specific provision proposed by Rep. Jim Himes, buried around page 1,482 of the almost-3,000-page bill, that would allow the Treasury Department to bypass certain checks to take “special measures” to surveil, condition or prohibit any transactions deemed of concern to U.S. interests. The provision, titled “Prohibitions or Conditions on Certain Transmittal of Funds,” also expands the department’s authority to include crypto exchanges and transactions.Contacts:https://ift.tt/3rV9uzt
Submitted January 28, 2022 at 04:14AM
Submitted January 28, 2022 at 04:14AM
Kim Kardashian, Floyd Mayweather, Jr., and Paul Pierce Sued in Cryptocurrency Advertising Class Action - Fuck these people filthy rich already and trying to scam their own fans. Disgusting.
https://ift.tt/3u2sqPC
Submitted January 27, 2022 at 11:55PM
Submitted January 27, 2022 at 11:55PM
US Unveils Bill Giving Treasury Secretary 'Unchecked and Unilateral Power' to Ban Crypto Transactions, Advocate Warns
https://ift.tt/3ADAvvj
Submitted January 27, 2022 at 09:33PM
Submitted January 27, 2022 at 09:33PM
Cardano network clogged, Avalanche congested a while ago, Polygon almost stopped completely due to some flower picking game. Are these really going to work as an alternative to Ethereum with its high gas fees?
Before anyone goes nuclear I will say that ETH is too damn expensive. But are the alternatives really so much better?Recent news about Cardano congestion shooting up around 90% and more, Polygon being borderline unresponsive during Sunflower popularity/incident, and AVAX fees getting sky high while network suffered congestion a few months ago.If these networks had the Ethereum levels of activitynon them, they wouldnt hold for long. Cardano has a handful of dapps and its already clogged? Same with Polygon. 1 dapp putting whole network on stop is really not what people would expect of the so called "next gen eth competitors."While I 100% agree that gas fees on Ethereum are absurd, I wonder if the alternatives that we have at the moment in top10 are going to solve that. All claim insane TPS and finality times, but when the shit gets real, the fees and network congestion go up to the sky.
Submitted January 27, 2022 at 11:14PM
Submitted January 27, 2022 at 11:14PM
The Fed decision was EXTREMELY encouraging and there were no nasty surprises. The only major threat to a bullish market right now is the situation in Ukraine ... but I believe there will be NO WAR and that we're back on track for an extremely bullish 2022. This is why ...
COVID. All the predictions of OMICRON disaster were wildly overstated. Here in the UK, ALL restrictions will be permanently abolished from this Saturday. The same in several other European countries.Ukraine. Despite the chest thumping, there will be no major conflagration in Ukraine. Russia cannot afford to lose face and will back down - whilst making a small, grandiose gesture.Putin has confirmed that Russia will NOT be banning crypto. That was obvious, but it's still bullish news.BTC Futures are currently at 0.93 - the highest for some time. The markets have fully priced in the gradual phasing out of tapering and up to 4 x 0.25% rate increase this year.Global supply chains are recovering faster than governments expected. Again, this is due to Covid becoming less menacing.The US Labor Market is now officially 'Strong'.There will be serious profit taking in the next few hours, but that's to be expected. But we're now back on firm ground until the Spring.NFA/DYOR
Submitted January 27, 2022 at 02:15AM
Submitted January 27, 2022 at 02:15AM
Bullish news from the Fed: rates remain unchanged, no uncertainty or change in strategy.
edit: Things have turned a little sour in the meeting.The follow up press conference didn't sound that bullish. While the minutes indicated that there is no increased rates from what's already planned, JPow had some hawkish undertones in his answers. Nothing sounded too dovish.And he is even now saying there could be increases.We are back to neutral...maybe even bearish.But there is a lot of fog in JPow's answers. And he said a lot of the decisions will come in the next meeting in March with more details on numbers.Stock crash potentially back on the table.____________________As you might have already guessed with stocks shooting up, and cryptos spking, we didn't get the doom and gloom news today, we got some moderately bullish news.Keep in mind, inflation is still very high, so it's not all rosy either.So long term, there are still major economic issues looming.It's also not super bullish for liquidity, or artificially propping up stocks with lowered rates.But it's a fine balance, and probably a best case scenario.In the minutes they mention unemployment has dropped, and the economic outlook is improving, according to the Fed.So maybe no stock market crash...for this week.Meaning maybe no Bitcoin crash below $30K this week either.In fact, the spike in Bitcoin could potentially create a short squeeze, and we could see prices above $40K this week.But we are not quiet out of the woods yet:We still have the press meeting....so don't pull out the party hats yet.We still need to hear how dovish or hawkish JPow might sound, and we haven't heard about timelines.
Submitted January 27, 2022 at 02:11AM
Submitted January 27, 2022 at 02:11AM
New Moons Are Ready! (Round 22)
UPDATE: A bug in the smart contracts for Community Points distribution was found that we have fixed. Every month, 50% of Moons burned are meant to be reintroduced in the following distribution, but because of a bug in the contract this has not been happening as expected.We have deployed an update to the smart contracts to fix the distributions going forward (it won’t apply to this current round but will apply to future rounds after this one).For those interested, here are the details from the team for what happened:In the buggy Distributions Contract on lines 1705 - 1708, we are adding the Points totalSupply from the previous round to the number of Points claimed in the previous round. If that total is less than the current Points totalSupply, then that means points were burned (less points exist now than were minted). However, this code has a bug where it does not account for the Points issued to the SharedOwners.This is fixed in the updated Distributions Contract lines 1701 & 1747 by keeping track of the Points issued to the SharedOwners in the previous round, and including them in the count of total Points issued for the previous round. This fix requires 1 distribution round to start working, so burned points will start being reintroduced in the Round 23 distribution.***This distribution of Moons has been finalized, and Moons are being delivered to users with a registered Vault. Users who do not have a Vault yet will get their Moons when they create one through the Reddit app.This distribution is based on karma earned from 2021-12-22 to 2022-01-18. Here is the finalized list, with contribution scores signed by Reddit.Moons are r/CryptoCurrency's form of Community Points, a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community.
Submitted January 27, 2022 at 05:04AM
Submitted January 27, 2022 at 05:04AM
It’s time to end tribalism now.
I don’t care if you are a Solana fan, ETH moonboi, Bitcoin or bust, etcThe time to end tribalism is now.The church of Charles Hoskinson (yes that guy many of you love to hate) just blessed us with a video and I really think you need to watch it.https://youtu.be/a2IP9ApZuUUBasically the government is about to pass this “America Competes” bill under the guise of staying competitive against China. It’s a load of crap. The bill sneaks in a part where the secretary of Treasury (Janet Yellen) will have full control to just ban assets at will.That means she can ban ALL of crypto or just certain ones in particular. She can wake up and say hey no more ETH trading in America. Exchanges will have to comply. This is serious.I normally don’t post because I’m not good with all the formatting and pretty pictures but this is so fucking serious guys. Stop with the stupid tribalism, stop acting like children. Now is the time to come together and reach out to the people who live off our tax dollars that are supposed to serve us.When you follow the money guess who’s lobbying so hard for this to pass? Ding ding ding : the Goldman Sachs Mafia. Banks are finally trying to put the nail in the coffin for crypto.TLDR: stop bickering for one moment and pay attention to this BS legislation that’s about to change crypto. Also fuck off and read my shit, it’s like 10 sentences.
Submitted January 26, 2022 at 11:59PM
Submitted January 26, 2022 at 11:59PM
Putin: Cryptocurrency Has Its Place, No State Can Have Own Crypto (Blocks Central Bank's move to ban crypto)
https://ift.tt/2JtPeh4
Submitted January 27, 2022 at 12:17AM
Submitted January 27, 2022 at 12:17AM
Be realistic it's not over
I can not believe that one and a half green days has got some of you talking about "the dip" in past tense.That some how this isnt over and we are heading back to 69k tomorrow especially since all the macro economic issues that are causing this haven't been resolved at allLet us not forget the inflation bubble that will pop eventually like 2008.This is not fud. We holders will make excellent money if we seize the opportunity of this bubble pop. Shilling lethal doses of hopium is good but not realistic ❤Be realistic, this IS NOT OVER YET.Edit: all I'm saying is to keep your wits about you and don't make foolish choices. When In doubt DCA. The 2008 reference is worst case. Not saying it will happen this year but it will happen eventually
Submitted January 26, 2022 at 11:28PM
Submitted January 26, 2022 at 11:28PM
Polygon (MATIC) to invest $100 million, with YouTube's Head of Gaming set to join POLYGON Studios as CEO.
Ryan Wyatt, YouTube’s Head of Gaming for seven years, is leaving next month to become CEO of Polygon Studios, the gaming and NFT arm of Polygon (MATIC).He was the man behind brining big name Twitch streamers over to YouTube and cited his passion for blockchain and Web3 development as the driving force behind the move.Polygon (MATIC) plan to commit $100 million in projects to develop decentralised gaming, attracting more traffic to its NFT tokens ecosystem and to establish POLYGON as a competent blockchain for Web3 transactions.Is anyone else super bullish on MATIC right now?
Submitted January 26, 2022 at 05:57AM
Submitted January 26, 2022 at 05:57AM
It's so unbeliveably refreshing to see Elons tweets have almost 0 affect on the price of something. The influencer effect is dying.
DOGE was a whopping .14 cents when I woke up at 6 a.m. at 7:30 A.M the price jumped 12% and within 5 minutes was back down to .14 cents and now sits at a 3% total gain for the day...It's so nice that the clear pumping from influencers is dying down. Regardless of how you feel about DOGE any crypto banking on a billionaire just trying to fill their own bags is terrible and will most likely leave you burned.If you're curious someone actually wrote a code and tabled all of Elons tweets in correlation with the price. https://ift.tt/3ilFoQW his affect is definitely dying out.
Submitted January 26, 2022 at 06:02AM
Submitted January 26, 2022 at 06:02AM
Sundaeswap Just Stole Millions Of Dollars From Investors
https://www.youtube.com/watch?v=1KpWrfVpUWc
Submitted January 26, 2022 at 07:16AM
Submitted January 26, 2022 at 07:16AM
Daily Discussion - January 26, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 26, 2022 at 07:00AM
Submitted January 26, 2022 at 07:00AM
Best way to buy the dip? Buy in layers
Here is a suggestion of how I buy dips, I'm sure many of you have seen this before, but it might help someone. Lets use bitcoin for example, its at about 36.5k right now. If I have $10,000 to spend, I don't want to just wait until it drops a bit and just spend the $10,000 all at once. I start edging in, just in case it goes lower to protect me from volatility. I set up buy orders:$1,000 at 34k$2,000 at 32k$3,000 at 30k$4,000 at 28kThis isn't perfect, but it has protected me from volatility a bit and certainly stopped me from dropping all my money on a coin at a higher price.Edit: Some people are saying this is DCAing. Dollar Cost Averaging is investing money at certain intervals regardless of the price. For my example it would be like $1000 a month over the next 10 months
Submitted January 25, 2022 at 11:24PM
Submitted January 25, 2022 at 11:24PM
Elon Musk says he'll 'eat a Happy Meal on TV' if McDonald's accepts Dogecoin payments
https://ift.tt/3r1ie8e
Submitted January 26, 2022 at 12:04AM
Submitted January 26, 2022 at 12:04AM
Kanye West suggests celebrities could use NFTs to earn royalties on their photos taken by paparazzi.
https://ift.tt/3nVoCeY
Submitted January 25, 2022 at 08:38PM
Submitted January 25, 2022 at 08:38PM
The global crypto market ($1.73T) is still worth less than a single US company (Apple $2.64T). If you think the largest decentralized financial system will never recover, then sell and move on.
Just wanted to put some perspective/hopium with this recent drop and that we are nowhere close to gold's market cap (10 trillion) and stock market (50 trillion). If BTC hit 100k it would only closely match apple and still be nowhere close to gold's market cap. I still have money invested in the stock market because I believe in the future of US companies but even I think it's overvalued compared to what crypto could bring to financial networks.And yes, apple is a big company that is also internal national but I still think the idea of crypto and the technology being developed by over 10,000+ developers deserves a much higher valuation.The negatives about crypto are what is highlighted like the exploitation of NFTs, scams, and pump and dumps. Take a look at the bigger picture and you can see that nothing has changed.
Submitted January 25, 2022 at 08:08AM
Submitted January 25, 2022 at 08:08AM
My lovely bank cares so much about me (!)
So my bank informed that I won't be able to transfer funds to cryptocurrency exchanges because of the elevated risks of fraud, loss, and volatility inherent in the cryptocurrency market.I have had an account at this bank for about 15-16 years, my parents opened an account where I couldn't touch the money until I am 18 years old. I am 28 now so I have been personally using this account for exactly 10 years.I have been sports betting for 20 and playing poker for 15 years now. First through my father and his debit cards until I turned 18, and ever since then I have used my personal account to transfer money into various poker and sports betting sites.For TEN YEARS these motherfuckers did not say a word and are still not saying anything about me losing maybe 5 figures on poker and football bets but now all of a sudden they are worried that I might lose a few hundred bucks at a volatile market. They were okay with me gambling when I was a barely legal teenager but God forbid I lose some money in the cryptomarket now that I am a grown man earning his own money.
Submitted January 25, 2022 at 06:47AM
Submitted January 25, 2022 at 06:47AM
My biggest regret this crash
My biggest regret was not taking profits on my altcoins. With bitcoin and eth I have full conviction they will recover and set new ATH’s but with some of my alt coins I don’t share the same sentiment.I feel like I have mastered the art of hodling and buying. What I really need to work on is taking profits and keeping in mind that no matter how astronomical the gains are on altcoins, they will always bleed in the long term against btc and eth.What are some of your regrets this market crash and how will you do better when the market recovers and breaks a new ATH?
Submitted January 25, 2022 at 03:54AM
Submitted January 25, 2022 at 03:54AM
Daily Discussion - January 25, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 25, 2022 at 07:00AM
Submitted January 25, 2022 at 07:00AM
Anyone else not really scared?
Don’t get me wrong, I’m not jumping with joy either, but I was shitting myself during the 2018, March 2020, and May 2021 crashes while pretending to be okay… This time I don’t really care. I’m a little upset I didn’t set aside more cash to buy in a bear market, but looking forward to working and investing as much as I can if we go really low.I’m not happy we’re going down but I’m also not shitting myself, just kind of whatever about it. If we go up from here, great 👍 I’ll sell some. If we go down from here, fuckit I’ll buy some.
Submitted January 25, 2022 at 01:17AM
Submitted January 25, 2022 at 01:17AM
Guess who doesn't care about crypto price crashes? The investors pouring billions into the sector, the hundreds of banks about to offer trading services to their clients, and devs actually building better, faster, cheaper alternatives to what is being used today.
Here's some food for thought. Major investors like VC and private equity funds, put their money into projects with a roughly five year time horizon (when they have to pay back their investors.)Literally billions of dollars have flowed into the crypto markets in January, 2022 alone. Temporary price movements have little to no effect on these investor decisions.As the old sports saying goes, hockey players skate to where the puck will be, not where it is now.Other trends point in the same direction.More and more banks are going to offer crypto trading services (watch out for those fees) according to industry stalwart American Banker (https://ift.tt/3eOXvgL). They do this because they project continued demand for these services, which requires them to spend money on infrastructure, marketing, It teams, to make it happen. As slow as banks generally move, the fact they are offering these services is a longer-term plus.Still not enough positive momentum?Consider which Blockchain/web 3.0/tokenization projects are actually making services better, faster, or cheaper (or will relatively soon.) The tech adoption curve starts out slow, but eventually sweeps upwards over time (no one knows how long it will take until there's mass adoption.)Crashes like this shake out weak projects, get-rich-quick traders (they'll be back when green days return, no doubt), and other fad chasers. That doesn't change the longer-term trajectory of the industry.
Submitted January 24, 2022 at 11:44PM
Submitted January 24, 2022 at 11:44PM
Impermanent loss explained like you are 5 years old, with dragons, unicorns and magical fees
Hi there, kids!I hear you are scared about that bear everyone is talking about. Will it wake up, will it get eaten by a bull? I don't know. But while we have nothing else to do, why not take the time to learn something new?So let's talk about impermanent loss before nap time.Imagine I have a dragon, and I want to trade it for a unicorn. Both magical creatures are the same price (because they're magic).I go to the toys store, but they don't want to buy back my dragon. So I need to find someone who is willing to exchange their unicorn for my dragon. I go to the flea market, and I find a merchant with 50 dragons and 50 unicorns in his stand. This is the liquidity pool.The merchant accept to give me a unicorn if I give him my dragon. But as the merchant has to make a living, he charges me a small fee, about 2.5% of the value of the trade, to accept my proposition. I gladly accept to pay the fee, and I go home with my new unicorn.But now, the merchant has a problem : he has 51 dragons and 49 unicorns. If more and more kids want to trade their dragons for unicorns, the imbalance will grow, and the merchant will eventually run out of unicorns.The merchant needs an equal amount of dragons and unicorns on it's stand to make good business. So he goes to a friend and offer to sell him 1 dragon for a discount - the dragon is worth $10, so the merchant will sell it for $9.95. The friend accept (because that's what friends are for), he turns around and sell the dragon at full price, netting a profit of $0.05. He then buys a unicorn on the internet for $10, then goes back to the merchant, and sell it to him for $10.05, netting another profit of $0.05 (this is called arbitrage). The friend has now made $0.10 of profits, the merchant has done $0.15 (the original 2.5% fee he charged me, minus the $0.10 loss from the trades with his friend.) Everybody is happy!That $0.10 loss is what is called impermanent loss. It's the cost of maintaining the balance between dragons and unicorns on the stand.Now, of course, if the merchant didn't charge me that 2.5% fee, he would be losing money. But he does charge a fee, so he ends up doing profits anyway.So why are people afraid of impermanent loss? Because if the price of one of the item explodes, and the other item does not, then the losses will be greater. If unicorns are now worth $20, the merchant will incur a greater loss when his friend helps him with the arbitrage. It sucks, and that's why some people don't want to be liquidity providers.But here is the thing : fees are almost always more then enough to cover for impermanent loss. In our example above, if the price of unicorn doubles and the price of dragons stay the same, impermanent loss will only amount to 5.72%. It doesn't take much volume for fees to cover this.There are a few caveats, tho. If you want to provide liquidity for shitcoins, you will absolutely get rekt if/when the shitcoins value goes to zero. That's why you should provide liquidity only with tokens you are comfortable holding long-term. Another good thing to keep in mind is that it is way less risky to provide liquidity for a pair that includes a stablecoin, because it's value will go unchanged. Some ETH/USDC pools were giving a whopping 200% APR for a few hours yesterday. Even if ETH shot up to a ridiculous price tag of $50 000 USD in six months, you will have made more money then if you simply hold.Another thing to keep in mind is that impermanent loss calculators give you the estimate difference between providing liquidity and hold-only... that is, if you were somehow able to perfectly time the bottom and top of the market. As we know it's impossible to time the market, those calculators really give you an absolute worst-case scenario.Oh, darn, time flies!It's now nap time, my young friends. Hope you enjoy my story... and I hope you will dream of dragons and unicorns.
Submitted January 24, 2022 at 06:36AM
Submitted January 24, 2022 at 06:36AM
Daily Discussion - January 24, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 24, 2022 at 07:00AM
Submitted January 24, 2022 at 07:00AM
You're gonna hate this
I'm seeing a lot of posts today about buying the dip and how today is different than 2018 because of increased adoption and more advanced tech, mainly in L1s. I hate to break it to you, but none of that matters. Have a look at this:https://ift.tt/3tS2lm5 the S&P 500 index. Notice something? Every ten years or so there's a severe downward correction which lasts 1-2 years. In the early 2000s it was the tech bubble, in 2008/9 it was the mortgage crisis. As you can see here, we've been in a sharp uptrend for over 10 years now. This uptrend has been fueled not in small part by record low interest rates. This is turn has resulted in parts of the market being hopelessly overvalued, a prime example being Tesla.Now look at the crypto charts, specifically the top 50 alts. Most of them have had absolutely face melting pumps over the last 18 months. Do you think that's just going to keep going up? Their valuations are now so ridiculous that 'crypto market caps' are basically a meme, completely detached from reality. Of course market caps are hardly ever a true reflection of what company is worth, but they are a reflection of the amount of speculation in the current market. Just to look at a few:Cardano MC $36 billion, doesn't have fully functional smart contracts, lots of promises while continually underdelivering, if at all.Solana: MC $30 billion, has been unusable for the last 48 hours, has suffered multiple outages over the last 6 months which lasted up to 17 hours.Dogecoin: $18 billion MC....don't think I need to go into more detail on this one.Ethereum: $288 billion market cap, supposed to disrupt the global banking industry (along with everything else), meanwhile it costs $200 for a simple ERC20 token swap.BTC: $665 billion market cap, supposed to be the future of digital store of value, meanwhile, has lost more than 50% in value over the course of 2.5 months.etc....The point is that these market caps aren't a reflection of the current states of those projects, but rather their promised states at some future point in time. Unless that point in time is very close as in a few months away, that's not sustainable. I personally don't think that point in time is very close, as almost nothing in crypto currency works as advertised.What would a multi year global bear market mean for crypto?- BTC bleeds more than stock market- ETH bleeds more than BTC- Alts will bleed even heavier than ETH and a good number will never recover. You have to remember something very basic here: if an alt your holding loses 90% of its value in the bear market, it has to pull a 10X just to get back to its previous price.Further complication:DCAing into projects is obviously the way to go in a bear market, but it becomes more difficult to predict what projects will have merit the longer the bear market continues. Will your favourite project still be relevant in 2024 or will it be replaced by something that hasn't even launched and won't until 2023? The longer the bear market lasts, the more likely that outcome becomes. Do lots of research, try to keep up with the tech developments in crypto. The next Solana or Luna is probably being planned as I write this. Try to find it.
Submitted January 24, 2022 at 05:06AM
Submitted January 24, 2022 at 05:06AM
The fact that EVERYONE is calling this the start of a bear market is probably the biggest reason it’s NOT.
There is no such thing as free lunch in any market and a BEAR market is no different!When the majority think that they KNOW where the market is going,It usually puts them right in their ass.So when I see everyone in the sub screaming that we are entering a BEAR market. It makes me feel at ease.It’s when everyone is sure it’s going to go up (cough cough 100k by December) is when I am the most fearful!Swim against the current my little fish ;)Anyway happy HOLDing/DCAingMY OPINION: we are in a LONG term bull market with short bear moments.64k in may. The low was 29kHigher high 69kHigher low… 34k?Y’all are packing your bags WAY TOO EARLY
Submitted January 24, 2022 at 03:28AM
Submitted January 24, 2022 at 03:28AM
Who else has no strategy after the crash and just sit by and watch their coins?
I think most of us can relate to this, at least I hope so. The last few days, I have only opened Binance, checked my balance and left. I used to look at crypto analyses, check out what my favorite investors said etc. But I just don't feel like doing any of this anymore. Even if I look at analyses, what is going to change? I am in such a big loss that I can't sell, so why bother?I just wanted to hear what you guys are doing in this crash. Because I am certainly not doing anything other than watching my portfolio dip even further.
Submitted January 24, 2022 at 03:01AM
Submitted January 24, 2022 at 03:01AM
So according to many senior bankers and policymakers, the problem with crypto is lack of transparency and the ease with which money is 'laundered and moved around at high speed with zero accountability'. One of those bankers, Merrill Lynch BOA MD Jim Lannazzo, was fired today after an 'incident'...
Jim Iannazzo was fired after being recorded making derogatory comments to young, female store staff: https://mobile.twitter.com/naveedajamali/status/1485275431465107462Fairfield Police Department incident report: https://ift.tt/3tQEgfz short time later, Iannazzo returned to Robeks and confronted employees, yelling at them and demanding to know who had made the smoothie which contained peanuts, causing his child’s allergic reaction. When employees could not provide Iannazzo with the answer he became irate, yelling at the employees using a number of expletives. He then threw a drink at an employee, which hit their right shoulder. The employee reported that they had no complaints of pain or injury. Iannazzo also made comments toward an employee referencing their immigration status.The incident concerned where he calls the shop staff 'fucking immigrants' and throws the drink is here: https://ift.tt/344LstP picked up and being reported by the mainstream media:https://ift.tt/3tTdV0y might be an isolated example of the hypocrisy and self-serving oligopoly of bankers who revel in telling us how and where we can spend our own money, but this incident is a the perfect example of why we don't need folks like Jim having ANY influence whatsoever in our financial lives.Today a little Karma seems to have descended and Jim is now persona non grata in the financial world.Hoping Wendy's might reach out and offer Jim an 'opportunity'...
Submitted January 24, 2022 at 01:04AM
Submitted January 24, 2022 at 01:04AM
FC Barcelona receives a sponsorship offer from Polkadot and will print 'Polkadot' on the sleeves of its jerseys.
https://ift.tt/3qQIthu
Submitted January 23, 2022 at 09:48PM
Submitted January 23, 2022 at 09:48PM
Reminder: We r/CC podcast will air live tonight at 11 PM UTC / 6 PM EST / 3 PM PST on Reddit Talk here as well as on our Discord server
https://ift.tt/3IvBsIR episode is on the back of bearish capitulation. In terms of price action it was a respectable move, but in terms of fear it was huge as we broke support levels that many were hoping to be respected. “when macroeconomics attack…” is the name of the game right now - 2022 will be a very interesting year in crypto and an interesting test for Bitcoin.
Submitted January 24, 2022 at 01:12AM
Submitted January 24, 2022 at 01:12AM
JP Morgan Chase has closed down the bank account of Uniswap's founder. He says it's simply for working in crypto.
JP Morgan has closed down the bank account of Uniswap's founder Hayden Adams, a software engineer and tech entrepreneur.He says not only him, but many others have been targeted just because they work in crypto.This is an abusive display of power.Uniswap is a multi-billion market cap trading platform that does revenue comparable with the likes of Robinhood.Banks shutting down accounts of individuals just because they work in what could be perceived as a competitor industry should never be tolerated.
Submitted January 24, 2022 at 12:14AM
Submitted January 24, 2022 at 12:14AM
Daily Discussion - January 23, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 23, 2022 at 07:00AM
Submitted January 23, 2022 at 07:00AM
El Salvador irresponsible for buying Bitcoin dips. Meanwhile US government sitting on $30 trillion debt that will never be paid back.
First let's get something right.El Salvador is not down 15 million on Bitcoin investment. That's fake news. El Salvador will more than make up for it from mining.El Salvador is also not "investing" in Bitcoin. El Salvador is looking to leverage it's rich natural geothermal energy resources to transition to a Bitcoin economy.Bitcoin city will be a circular economy where locally everything will be priced in sats. So you can shove your US dollars.The only people who care about dollar price going up and down are people still treating Bitcoin as an investment. You're buying with the intention of selling at a higher price.Some of us have no plan to ever sell bitcoin. We have already moved on to a superior monetary system where no central authority can print money for free out of thin air which other people are forced to work for and pay taxes. Everybody must prove they worked for money.
Submitted January 23, 2022 at 03:27AM
Submitted January 23, 2022 at 03:27AM
Where did all the "buy the dip" posts go that were so hot in November?
I remember this sub in November was euphoric and was going crazy with buy the dip posts when there were 5-15% dips. Why stop the posts now?Now is the chance to buy that juicy dip. We are almost down 50% from all time highs. What has changed your mind from buying the dip at -15% than -50%? I'll tell you what, FEAR.This just comes to show most people in this sub have no clue what "buying the dip" means and probably bought BTC at a 5% dip from ath. We all make mistakes, just have to learn from them.THIS IS AN ACTUAL FUCKING DIP, so now would be a very good time to buy.
Submitted January 22, 2022 at 06:56AM
Submitted January 22, 2022 at 06:56AM
When to buy this dip? More dippage incoming?
The market has been tanking like a mother fucker for the past 48 hours. I'm sure some of us are wondering where the bottom is and when to start stocking up on shit while it's super low priced.A big question also is- what will Tuesday look like, more chaos in the market or some kind of consolidation then.If anyone if us could truly know we'd probably be fortune tellers but alas.What are you all thinking? When do you plan to buy in this market, assuming you're not selling your cryptos off?
Submitted January 22, 2022 at 05:23AM
Submitted January 22, 2022 at 05:23AM
Daily Discussion - January 22, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 22, 2022 at 07:00AM
Submitted January 22, 2022 at 07:00AM
El Salvador just bought 410 Bitcoins.
Yes, Nayib Bukele has just announced that El Salvador just bought an aditional 410 Bitcoins, for a total of 15,000,000 USD.Nayib Bukele Tweet.When you have an actual country (El Salvador) buying the dips, that's a saying on what's to come. We might be watching on of the richest countries of the world on the upcoming years under construction, and maybe one of the smartest financial moves that a country has ever made.Price is changing but Bitcoin fundamentals are strong, and hasn't changed, keep stacking those sats if you can. I have a strong conviction on Bitcoin for the future, this is only getting started.
Submitted January 22, 2022 at 05:38AM
Submitted January 22, 2022 at 05:38AM
Five good reasons to be bullish even tho everything's crashing right now
Hear ye, hear ye, my dear friends.Today it hurts, I won't lie. Months and months of unrealized profits, poof, gone. We can spend all day moping around, but it won't get us anywhere. Nothing has changed our investment thesis: crypto will improve our world, so in the long run, we'll be rewarded.I feel like chasing the gloomy sub mood, so here are five reasons to stay bullish for the long term.1-Several hundreds millions of people hold & use crypto worldwideIt's hard to get an accurate estimate, but the best source I could find states that there is at least 300 million people holding crypto in the world. We definitely got mainstream last year, and the sheer amount of users makes it unlikely everything will go to zero anytime soon.2-Energy consumption of crypto will go down a lot, very soonThis week, US Congress is holding hearings about the energy consumption of cryptocurrencies. People are concerned about this, but here's the thing : the second biggest coin out there by market cap, ETH, will switch off proof-of-work forever in six months. This will cut down it's energy consumption by about 99% - and the same goes for every ERC-20 tokens and every ERC-721 NFTs out there.3-Usecases are becoming more and more apparentUnbanked people in Argentina are using the Binance Smart Chain to accept payments. Major credit cards companies such as Visa and MasterCard are launching crypto products. Web3 social media is rising fast - same for P2E blockchain-based games. ENS domains are becoming a thing. The list goes on and on.2-Institutions are getting onboardWhile it may take a while, pension funds, hedge funds and state-sponsored sovereign funds are getting interested in crypto. About 7 out of 10 institutional investors recently surveyed by Forbes planned to buy and hold crypto. Medium-term, this will make our assets less volatile, with blue-chips such as ETH and BTC beeing seen as "internet bonds".1-The most brillant minds are getting into cryptoThe crypto job market is in a frenzy. Developers are leaving web giants to go work for CEXs, L2 solutions, fintechs, etc. An Ethereum developer can get $300k/year nowadays. Cryptography research is going very well, and concepts such as zero-knowledge proof are already being used in protocols. For those "in it for the tech", the future looks bright.We will make it, my friends!
Submitted January 22, 2022 at 03:51AM
Submitted January 22, 2022 at 03:51AM
I took this subs advice today and it was the worst decision I have ever made.
With everything being in the red this week I started listening to all the post that said take a break and enjoy life, stop looking at the charts and go outside.That's when I made the worst mistake of my life, I Listened to people on r/CryptoCurrency.I put the phone down and looked around only to see the very thing I've been hiding from my entire life, bills, debt, crippling depression, no social skills, the inability to relate to others and worst of all being poor.Being poor sucks.I checked the mail and apparently I owe a lot of money to different companies for things like electricity and water.I looked at my real wallet and its even emptier than my crypto wallet.I screamed ALGO!!! at the store and people didn't applaud me or start saying "if you go, I'll ALGO"I told the cashier that FIAT is poison and she should accept bitcoin but she just stared at me and told me not to worry about paying but that I wasn't allowed to return.after a difficult day I pulled out my Ace and said Moon's to $1.00 but was only met with stares.so the moral of the story is don't listen to people on this sub, the real world sucks and they don't even have gifs.TLDR: its not all sunshine and rainbows out in the world, so keep looking at the charts and shitposting.
Submitted January 22, 2022 at 03:03AM
Submitted January 22, 2022 at 03:03AM
With crypto down by 40% in the last 3 months, if this isn't a bear market, what is a bear market?
I'm fairly new in the crypto world, bought most of my portfolio at the ATH of November and I'm now stuck with an ever shrinking crypto account. I'm also new to investment in general, so when I learned about bull and bear markets last year, I thought I understood what they meant. Bull is when people are hopeful and numbers go up. Bear is when people are fearful and numbers go down. But people here keep saying we are not in a bear market. When the market goes down everyday for months, what is it then?
Submitted January 22, 2022 at 12:34AM
Submitted January 22, 2022 at 12:34AM
Most NFTs Are More Like Baseball Cards Than Fine Art
https://ift.tt/3nHOU4m
Submitted January 21, 2022 at 05:38AM
Submitted January 21, 2022 at 05:38AM
Daily Discussion - January 21, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 21, 2022 at 07:00AM
Submitted January 21, 2022 at 07:00AM
Despite the $34 Million stolen from CryptoCom, no users suffered a loss as they were fully reimbursed . Also they introduced a Worldwide Account Protection Programme afterwards, which protects victims of unauthorised transactions of up to USD$250,000
https://ift.tt/3IhZIhm
Submitted January 21, 2022 at 03:39AM
Submitted January 21, 2022 at 03:39AM
What was said in the Crypto Hearing in Congress just now: Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains: Introduction of the members. (Questions in part 2)
The hearing: https://www.youtube.com/watch?v=HWg731-3id8First speaker: Diana Degette: https://ift.tt/3qLdB1H said the focus of the hearing is on energy consumption, she also recognized the value of Blockchain technology for many aspects of our modern human life.She then spoke about POW and described it. She made a reference to the lone miner who won the Bitcoin mining lottery recently. She underlined that some Crypto mining company are using expensive renewable energy but some other companies are using coal mining and fossil fuel.She also explained that the demand in energy from crypto miners can help balance and manage the powergrid. For example reducing the mining when there is a lot of demand. These can be vital in day to day variation of green energy production and during crisis like in Texas last year.The electronic waste is another focus: The machine which can't be recycled, disposed of, or repurposed are a problem.She says that Mining needs to thrive to reduce the energy spending and be greener and greener.Second speaker: Morgan Griffith: https://ift.tt/34Y26vo recognize the power of blockchain and shows good understanding of the value of decentralization. He recognize the importance of lawmakers understanding cryptocurrencies. He describes mining rapidly. He also explains what is a halving. He also explains what is Proof of stake and how it may be a problem to not have as many validators as POW.He explains also how Bitcoin miners have been helping to deal with waste of energy and with green energy development. Blockchain is a transformative event for the US society according to him.Third speaker: Frank Pallone https://ift.tt/3nKKbPr explains what are cryptos rapidly and explains that they don't want to stifle the growth of the sector yet he emphasize that there is a need to fight the climate crisis and wants to know what the crypto mining industry brings to the table to reduce emissionsHe is very critical of miners bringing back old fossil fuel plants...He pushes the Bring back better plan to build more green energy. He wants to know if Miners can help consumers to pay less expansive energy during crisis like in Texas when people were over billed on the spot marketFourth speaker: Cathy McMorris https://ift.tt/3tGgQtj makes a hardcore takedown of the Biden administration which is not related to crypto.For minutes she speaks about unrelated issues such as covid, China, Russia, Vaccines, the CDC, Teachers Unions, Masks, Children. She is angry because this committee hasn't been meeting which is the first reasonable thing she saidShe finishes by giving support to crypto and the tech behind it.____________________________________________________________We go back to the first speaker who list the invitees except one who is introduced by a woman who is very pumping him and bullish about him all invitees accept to speak under oath without representation which shows big ballsFifth speaker: Ari Juels https://ift.tt/3IkVOV9 (couldn't find a wikipedia for the lad)He is a teacher in blockchain and smart contract. He starts to say that blockchain isn't equal to bitcoin and that blockchain doesn't need bitcoin to survive. He explains rapidly grossly simplified how blockchain works.He explains how Bitcoin Mining works. The lad coined the term proof of work (or so he says) he also explains what is proof of stake. He explains that Proof of stake and smart contracts are at the forefront of the DeFi and the progress of the tech. He also explains how 4 mining pools are controlling the majority of Bitcoin hashrate. He seems to be very against bitcoin.Sixth Speaker:John Belizaire https://ift.tt/33BCnsu (No wikipedia for this chad)He is developing data center of for mining. He explains how energy consumption is a feature and not a bug and how it can help with energy management, jobs, and ecological consumption. He actually works in repurposing the energy wasted by wind farms.Up to 30 % of the wind and solar power is wasted currently this energy can be pushed into crypto mining. He explains how Bitcoin is currently used by millions of people he also explains how crypto mining can be paused to introduce flexible load to the grid as a solution for the waste of renewable energy.Data centers are now catalyst in the development of green energy plants and some projects wouldn't exist without these data centers.Seventh speaker Brian P. Brooks https://en.wikipedia.org/wiki/Brian_P._BrooksHe starts by speaking how green bitcoin has become, he also explains how Bitcoin's energy consumption should be compared to Gold and traditional finance. Bitcoin was 58% green last year. He explains how much production is wasted due to inefficient production and how Bitcoin can make solar and wind power profitable.He explains how Proof of stake and proof of work should both exist and that proof of work is very important. He also explains how bitcoin mining uses less energy per economic value than air travel and other industries.Eighth speaker: Steve Wright https://ift.tt/3IlZPsn No wiki againThe dude makes a long tangent about the perception of Bitcoin mining. He is Boring AF and explains how crypto mining is young but will evolve and question the value of crypto as a whole long term. Still he sees a big value to reduce carbon emission in POW.Ninth speaker: Greg Zerzan https://ift.tt/3Ag8E46 explains that Bitcoin is not the blockchain. He says that the blockchain is the true vision of the internet and empowers the consummer. He explains that innovation is the drive of the US economy. He explains that Bitcoin is only one of cryptocurrency and that regulations should be discussed on a case by case because some blockchains are not financial products.See you in part 2 for the questions !
Submitted January 21, 2022 at 12:26AM
Submitted January 21, 2022 at 12:26AM
What was said in the Crypto Hearing in Congress just now: Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains: Questions.
The hearing: https://www.youtube.com/watch?v=HWg731-3id8TLDR: Bullish and interestingQuestion 1 from Diana Degette to Ari JuelsIs there a way to do Proof of work without wasting energy or electronic waste?He answers that there is no other way but there is always Proof of Stake (he shills it at every occasion)Question 2 (same speakers)Do people have incentives to go to the cheapest energy to mine?Yes but there is always proof of stake (Diana Degette shuts him saying they'll come to that later)Question 3 Diana Degette to John BelizaireWhy the energy consumption is a feature not a bug?=> The energy consumption is here to protect the network and lock in the value.Question 4 Diana Degette to Steve WrightSometimes Renewable are not the cheapest right?YesQuestion 5 Diana Degette to Brian P. BrooksYou mention that proof of work can't shift to proof of stake why?The proof of work makes a big value compared to other industries per consumption of energy. Proof of Stake poses problems of security because of the holders but proof of work is more resilient and more decentralized____________________________________________________________________________New Character arrives: David McKinley https://ift.tt/3fKgbPa about the hearing being a distraction from real problems. Says that states without renewable are discriminated because of renewable. He is mainly ranting.He asks: could miners rely on renewable to Greg ZerzanAnswer: Yes as long as it is cheap and as long as the US is a net exporter of energy.____________________________________________________________________Back to Frank Pallone who asks: The concern about high power consumption and the future of it to Greg ZerzanGreg Zerzan speaks about data centers using also a lot of data.Frank Pallone asks why the 0.5% of energy consumption is credible to Ari JuelsDerived from Hashrate.Frank Pallone asks Steve wright how can we make sure consumers don't pay more because of miners.The dude lags hardcore and I can't get a grip of what the fuck he said. Seriously this is a US congress hearing and I have a better connection that this dude. (the congressman didn't understand too and asked for a written answer LMAO)Cathy McMorris asks of Zerzan how blockchain can empower the consumer?He explains how it makes people control their data which undercuts Facebook, google and all other Big tech companies.McMorris explains how the job boom of blockchain is outpacing other industries and asks about the value from these jobs?Zerzan explains how cryptos are the blood of the blockchain and that these experts are needed to make the cryptos and blockchain work.Mc Morris asks Steve wright (the laggy boy) what are the negative impacts of crypto miningHe says his community is scared by unregulated currencies and that they are skeptical about these technologies but doesn't answer the question._________________________________________________________________________________________________New character: Anne Kuster https://ift.tt/3ryjOgN explains how many assets exist and how the industry is growing and helping the world. She questions the sustainability. She explains that some leaders in the POW are trying their best to be green and to make big projects to develop a better power grid.She asks Brian P. Brooks What are the innovation in the future of the crypto mining?Brooks explains how crypto is not about tax evasion or money laundering, he explains how bitcoin is the most decentralized crypto and that there is value in decentralization. He explains how companies in this space are starting to fight against the giant in tech.He says, decentralization is safer, fairer and the future.She asks John Bellzaire what are the exiled miners from China searching in the US ?He explains that miners who have suffered from 'the great unplugging' have been searching for a free market with a real ecosystem (insurance companies etc) rule of law and are trying to thrive in the larger US economy._________________________________________________________________________________NEW DLC CHARACTER: Neal Dunn https://ift.tt/3nKqS8P very pro crypto, says he accepts crypto campaign donations. He wants to 'let the market decide'. He says that they should help crypto to thrive instead of regulating it.He asks Brooks how halving will help miners who are more efficients and to be more energy efficient?Brooks explains that these halving are seen as the next big rise in the crypto sector and are pushing progress in a lot of other sectors such as cooling industries.He asks Brooks how chips technology is benefiting from Bitcoin POW.Brooks explains how they have pushed specialized chip tech forward and that they made leaps comparable to the tech leaps produced by the Space program.He asks brooks if miners in other countries are dirtier, isn't the solution to welcome them in the US?Brooks answers yes.__________________________________________________________________________________NEW DLC CHARACTER: Jan Schakowsky https://ift.tt/3fG46L5 on the old plants re-opened and how economics can push the miners to fossil fuels. (She seems very old)Asks about that to Steve Wright:He answers that as coal is less and less demanded due to regulation, the prices get lowers and some may be interested in these products.Asks John Bellzaire about cleaner sources and says she is skeptical about crypto and about the fact that they use fossil fuel. (she is anti crypto I think but yay)John Bellzaire answers that Crypto brings huge capital which help with the transformative of the grid and of the zero carbon footprint. The capital deployed in clean energy is currently virtualy infinite because of subsidies and of crypto capital.She says that they should hope Bellzaire's vision comes to fruition__________________________________Morgan Griffith asks if Southwest Virginia could profit from the fact that it has cold temperatures to Brooks.Brooks says yes.He then asks the same to other people who say all yes.He voices concern that congress should not regulate the crypto space out of existence and asks Brooks what he thinks about this.Brooks answers that Bitcoin's value is not about the market cap of Bitcoin but about the transactions and about the fact that Bitcoin is the bedrock of the crypto ecosystem. So Bitcoin should be protected.He asks Zerzan if China ban on crypto shows an anti freedom stance.Zerzan says that crypto is freedom and some people don't like freedom._______________________________________________________________New character: Paul Tonko https://ift.tt/3GM5LKQ that a lot of miners are interested in the energy in New York. Asks Bellzaire if it is possible to ban crypto miners from fossil fuel?Bellzaire explains that this could be feasible through carbon tax credits or financial incentives to develop flexible load environement.And that they could also incentive Green energy producer to team up with miners.He then Asks Juels if consuming excess energy from renewable has opportunity costJuels answers by saying that he needs to repair something that was said: Mining rigs are more efficient over time but it doesn't mean that the energy infused has been reduced. And doesn't answer.The law maker ask again why he believes that this excess energy is wasted when used on POW?Juels answers that it is because proof of stake exist and that the concerns about the centralization of POS are very theoretical. For him it is not proven yet that the validators could break it. He says that this energy could go else where gives a very bad answer.______________________________________________________________________________New character: Scott Peters https://ift.tt/3GSdRSf to Brooks is it possible to reduce consumption with better equipment?Brooks says that yes, in fact the energy efficiency of energy/ hash has improved dramatically and that the industries benefiting from Asic have gained a lot thanks to the funding in R&D funding from miners.Asks to Juels why he says that it is in fact not reducing consumption or being more efficient.Juels explains that he doesn't measure energy consumption / hash but per transaction and in that sense Bitcoin is very energy intensive. He also says that the lightening network is not used a lot and in its infancy and remains to be seen how succesful it is. (lol talks about millions of people using it daily...)Asks to Bellzaire how his vision of flexibility translate in application.Bellzaire answers that these datacenters decentralized could help with algorithms and other problems not only POW but bringing valuable applications.__________________________________________________________________________New Character: Kim Schrier https://ift.tt/3AqyAdC Steve Wright how they managed cost of energy to help consumers while allowing mining.He answers that they have bought reserves and made contracts with miners (I can't understand him well)The law maker kim schrier is saying: Do you think that despite the ransomware, the drug and human traffics, are crypto really bringing value to humanity? (what a moron)Steve Wrights says it depends, and it depends on regulations, he wants a mechanism to be sure crypto is not used in the wrong way (decentralization is not about this).She then asks him about a dam contract with canada which is totally unrelated.___________________________________________________________________________________________New Character: Lori Trahan https://ift.tt/3qNSFr7 asks Brooks if the number of miners is important.Brooks answers that it is not that important at least less than in proof of stake since POW can't be tricked and the lottery makes collusion impossible but proof of stake allows for collusion and modification of blockchain.She Asks Juels about proof of stake consolidation and is it a real alternative to POW.Juels says that the concern is not about POS or POW but about centralization and that POW is not better in that front. Juels says that the real concern is about the rich being richer but that most problems are unrelated to POS or POW. (He is cheerleading for POS)Asks juels what is the danger of centralizationJuels explains that the problem would be an overtake of the blockchain and a control of the transactions.________________________________________________________________________New char: Tom O'Halleran https://ift.tt/33u1b5P Wright the difference between datacenters and crypto mining as consumers of energy.Wright answers that data centers were better prepared to approach the energy industry and that Bitcoin miners were unpreparedThe lawmaker asks what growth in jobs is made in these industriesBellzaire answers that the jobs produced per energy is not known by him BUT that they are creating high value jobs such as data technicians and that the value is high.____________________________________________________________________________________New Character: Darren Soto https://en.wikipedia.org/wiki/Darren_SotoSays that Crypto is very mystifying and that Crypto can be a future, a currency, a commodity, and a security. This committee is the first to have passed bills to establish these kind of definitions and also taxation rules. He wants to make sure that Crypto is not used by terrorist and wants way to claw back some of the money.Says he is concerned with the energy use and how coal plants are re-opened because of Bitcoin. He says that, if crypto is the currency of the future, we can't destroy the planet to make it work.Asks Juels how Data oracles can make blockchain more efficient?Juels says that oracles are not making these more efficient it is not their role. He says that Smart Contracts are actually at the core of this. He says that blockchain are not connected to internet and that the oracle is the link between blockchain and offchain systems. 'the eyes and ears of smart contracts'Asks Brooks what the gov should do to encourage less energy intensive efforts?Brooks answers that the market is the best answer, it depends on a lot of costs and Bitcoin is an energy derivative which can be used to understand the best role of energy at a current time.Brooks also says that his companies are talking to wind farms and solar farms, not coal plants. The anecdotal stories of coal plants are not the reality. The vast majority of Bitcoin miners are providing a base load consumption to Green energy producers.____________________________________________________________________________________The thing concludes with Degette saying that they are happy with answers today and want to know how in the future if miners are located in the US how will the energy spending evolve.She says that the testimonies were of the utmost value today.
Submitted January 21, 2022 at 01:43AM
Submitted January 21, 2022 at 01:43AM
MicroStrategy CEO Michael Saylor won’t sell $5B stash despite crypto winter. “Never. No. We’re not sellers. We’re only acquiring and holding Bitcoin, right? That’s our strategy.”
https://ift.tt/3KE5bkS
Submitted January 20, 2022 at 10:46PM
Submitted January 20, 2022 at 10:46PM
CryptoCom fully reimburses all 400 People who got their Crypto Stolen in recent Hack
Crypto.coms CEO admitted that 400 accounts were breached in a recent hack, and the funds possibly stolen.He added that they reimbursed all stolen funds, so there would be no loss for customers.We very quickly stopped it, we paused withdrawals, we fixed it [and] we were back online in about 13/14 hours and during the same day, all the accounts that were affected very fully reimbursed, so there was no loss of customer funds. -Crypto.com CEOThey have professionally handled the situation, refunding everyone who got their Crypto stolen is the only right thing they could have done.(source)
Submitted January 20, 2022 at 09:31AM
Submitted January 20, 2022 at 09:31AM
Daily Discussion - January 20, 2022 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.Discussion topics must be related to cryptocurrency.Behave with civility and politeness. Do not use offensive, racist or homophobic language.Comments will be sorted by newest first. Useful Links:Beginner ResourcesIntro to r/Cryptocurrency MOONs 🌔MOONs Wiki Pager/CryptoCurrency Discordr/CryptoCurrencyMemesPrior Daily Discussionsr/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.
Submitted January 20, 2022 at 07:00AM
Submitted January 20, 2022 at 07:00AM
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