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    Cryptocurrency Daily Discussion Megathread - August 9, 2018

    August 09, 2018

    Cryptocurrency Daily Discussion Megathread - August 9, 2018

    Daily Discussion Megathread - August 9, 2018

    Posted: 08 Aug 2018 11:23 PM PDT

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    submitted by /u/CryptoCurrencyMod
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    Today’s top gainer making me consider getting back into crypto

    Posted: 08 Aug 2018 09:10 PM PDT

    Binance Releases Pre-Alpha Demo of their DEX and Binance Chain!!

    Posted: 09 Aug 2018 01:18 AM PDT

    CNBC's Brian Kelly: If You're Selling After ETF Delay, You're Doing Crypto Wrong

    Posted: 08 Aug 2018 11:47 AM PDT

    Brave browser will let you cash in on tweets and Reddit posts

    Posted: 08 Aug 2018 01:05 PM PDT

    Opera announces crypto wallet for their desktop browser! 40 million people use Opera browsers globally.

    Posted: 08 Aug 2018 11:22 AM PDT

    Ambassador to the United Nations and international lawyer endorses blockchain, Relex cryptocurrency

    Posted: 08 Aug 2018 07:20 PM PDT

    A coworker of mine writes down the prices of the coins in his portfolio every week. Predictions in blue. Last week he stopped. Today he drew this. Pretty much sums it up.

    Posted: 09 Aug 2018 03:07 AM PDT

    A cathartic rant to ease my bleeding Blockfolio (AKA why I remain optimistic)

    Posted: 09 Aug 2018 02:02 AM PDT

    My own hope, and it might just be my way of getting through this purgative crash in the market, is that this is the cleansing that we needed.

     

    I'm positive we'll emerge from it (when, I can't say) into a crypto market that's free of the vacuous shitcoins scattered through the top 100... If you were to have invested last September, or before, you could pretty much have picked anything and have been guaranteed a very handsome return. This scattergun approach has, in my opinion, led to an inflated worth for a huge amount of projects with no, or very little, discernible use case (think Dogecoin, or the innumerable scam ICO's).

     

    This style of blindfold-investment is a hallmark of an immature market (or more specifically, an immature investor base). In order for the market to mature, the investors need to do the same. This crash has absolutely hammered many, and I'm willing to guess that many in here who got in from October onwards, and didn't cash out at fantastic gains (January), will be significantly down on their initial investment.

     

    However, what this crash does, in my opinion, is force a maturation of the investor base. Whilst I have no solid stats to back this up, in my personal experience it appears that the average crypto investor is a 25-35 year old male, with marginally below-average social skills and little-to-no prior investment experience. They're also, in many cases, completely fu*king wrecked. They will either hold their reduced positions, hoping against hope that the good times return; or they'll sell up and swear off investment forevermore…. If they stick around, and they're invested in a project with inherent value, then there's a very good chance (IMO) that they'll enjoy a market reversal. However, if they're sat in dodgecoin or the likes, then they can forget about green candles. This crash has been, in effect, a reset button across the boards, no token excluded, back to September/October price levels. It's an opportunity for people to reassess the way in which they invest and, crucially, to take a more reasoned and considered approach to the projects they invest in.

     

    I anticipate that with this 'second chance' – if people are willing and/or liquid enough to take it – that they'll be forced to mature and that the Average Joe will no longer pump his hard-earned into anything with a semi-coherent whitepaper. This'll result in the death of the innumerable projects that have no obvious use case, have made no discernible progress, or were ill-conceived in the first case.

     

    However – and this is what keeps me optimistic in the face of such an horrific crash in the value of my portfolio - projects of inherent value will be even more valuable than before. The total crypto market cap will be spread between fewer 'quality' projects and the value of these tokens will bounce back.

     

    The above doesn't even get into the potential Bitcoin ETF or, even more importantly in my eyes, the announcement of Bakkt ( https://www.businesswire.com/news/home/20180803005236/en/Intercontinental-Exchange-Announces-Bakkt-Global-Platform-Ecosystem ), a consortium including ICE (the owners of the NY Stock Exchange), Microsoft and Starbucks which has been formed to make Bitcoin "a trusted global currency with broad usage."… Bakkt will facilitate, in essence, a regulated crypto exchange for use by anyone, including major institutions.

     

    Beyond the ETF/Bakkt stuff, there's the ongoing formation of regulatory framework – all of which points to Security Tokens being the next 'big thing'. Look into Security Tokens yourself – they're backed by tangible assets and so stand, for many, a class above standard utility tokens.

     

    Major institutional money IS coming, I don't think there's any doubt about that.

     

    All of the above said – and I appreciate that it's quite a screed – I remain positive long-term for intelligent investors. It's been said many times over, but always do your research, thoroughly, before departing with any cash. With what I believe to be a cleansing of the market, the forced maturation of the investor base, and the hugely positive background moves being made by Serious Money; I firmly believe that the people who claim that crypto is dead are not only wrong, but they aren't paying attention to anything beyond the wildly fluctuating prices.

     

    Ok, that's the optimist's perspective; roll-up for the doomsdayers 😉

     

    submitted by /u/fent11
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    Genesis Markets - A crypto broker that pools liquidity from multiple exchanges. Order books are combined to provide the highest levels of liquidity and the best rates on the market.

    Posted: 09 Aug 2018 12:42 AM PDT

    Tell me who your engineers are and I will tell you who you are. Cardstack core developers explain how they're making decentralized apps easier to build.

    Posted: 09 Aug 2018 01:13 AM PDT

    CryptoMom: "SEC's Division of Investment Management has a lot of questions related to crypto funds. I'm happy that there's finally an online forum for people to respond"

    Posted: 08 Aug 2018 12:39 PM PDT

    Accumulate Alts right now?

    Posted: 08 Aug 2018 02:44 PM PDT

    The BTC dominance is around 50% and the most Alts are nearly at prebubble prices - the whole november/december hype seems to be gone. I just grabbed some of my favourite altcoins to double my holdings in it - despite I know we have to see a btc bull run first for lambo, moon and so on 😀

    I don't believe we will se a BTC dominance around 60% ever again. This would mean that nearly all hope in the massive amount of good altcoins is gone. What do you think? Is it idiotic to accumulate Alts right now?

    submitted by /u/HolyPolyTo
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    Crypto is Too Cringe For Me...

    Posted: 09 Aug 2018 01:35 AM PDT

    Just full of moonkids and people hugging each other in panic saying to each other "it'll be okay the bullrun is coming" "One year ago today the price of x coin was x".

    Everyday I see you fcking insecure whiteknights with your fcking motivational posts in every. single. subreddit. Like some1 said the other day the reactions to the ETF news were like a bunch of teenage girls trying to convince their friend they dont need that guy after a breakup ROFL. The other day some1 posted a pic of a shirt where it said "hodl" and the title of the post was "for the upcoming bullrun". I no joke sold immmediately as I thought "As long as these weak, annoying, unbelievably delusional people are still here and have not capitulated, the run aint happening" and right after I sold the market crashed, phew lol.

    Even if I believe in crypto I almost want all of this to crash to zero now because i've come to associate the word crypto with pure cringe to the highest degree. If I hear the word moon, lambo or "fundamentals" one more time, I'm going to set both myself and my cryptocurrency wallets on fire.

    submitted by /u/Game_Of_Trades
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    WaltonChains self developed RFID chip is ready for production.

    Posted: 08 Aug 2018 10:33 AM PDT

    NVO EXIT SCAM Confirmed

    Posted: 08 Aug 2018 05:39 AM PDT

    Forbes: "Crypto Collectibles are the Future" -- Mentions Gamedex, CryptoKitties, MLB Crypto, and other Blockchain Startups

    Posted: 08 Aug 2018 10:03 PM PDT

    Fourth industrial revolution guys, it's happening!

    Posted: 08 Aug 2018 10:17 PM PDT

    Hey guys!

    I just see many hurt people around here, I have to say, I have hodled throughout the last 8 months and felt your pain.

    But I also want to tell you that crypto cannot be stopped, do not let those rich fuckers dupe you into giving them your coins at a super undervalued price.

    No crypto cannot go to zero, as bankers and large firms are steadily FUDING and accumulating under the table in OTC markets.

    Do not trust what's on the surface, we all know the recent news have been incredibly BULLISH, yet price goes the other way, ask yourself, did you come in crypto for a week or a few months? Or did you come here because you saw the potential and are willing fight through the bad days, to be able to enjoy the good days on a yatch or sunny beach somewhere?

    Are you ready to give up or fight?

    We are over 712000 people crypto fam, wake up and deny the naysayers!

    submitted by /u/CekoNereza
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    New Cryptocurrency Exchange Targets European Regulatory Compliance

    Posted: 09 Aug 2018 01:33 AM PDT

    Microsoft is going full speed ahead with their entry into cryptocurrency... but miners aren't coming with them.

    Posted: 08 Aug 2018 02:57 PM PDT

    The SEC Will Decide on 9 Bitcoin ETFs in the Next 2 Months

    Posted: 08 Aug 2018 03:38 PM PDT

    Philippines Joins Other Asian Nations Creating Regulatory Framework for ICOs

    Posted: 09 Aug 2018 03:01 AM PDT

    You can now use cryptocurrency to buy art in London

    Posted: 08 Aug 2018 11:10 PM PDT

    EnergiToken — a revolutionary approach to saving the world

    Posted: 09 Aug 2018 01:49 AM PDT

    Bitwise joins the race to launch SEC-regulated cryptocurrency ETF

    Posted: 09 Aug 2018 02:44 AM PDT
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