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    Cryptocurrency Daily Discussion Megathread - December 8, 2018

    December 08, 2018

    Cryptocurrency Daily Discussion Megathread - December 8, 2018

    Daily Discussion Megathread - December 8, 2018

    Posted: 07 Dec 2018 10:04 PM PST

    Welcome to the Daily Discussion Megathread. Please read the disclaimer, guidelines, and rules before participating.

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    Thank you in advance for your participation. Enjoy!

    submitted by /u/CryptoCurrencyMod
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    current state of crypto

    Posted: 07 Dec 2018 11:23 PM PST

    To stop bots from playing you, you have to play the bots

    Posted: 07 Dec 2018 09:52 PM PST

    Everyone's always asking "When moon?", but nobody ever thinks to stop and ask "How's moon?".

    Posted: 07 Dec 2018 11:23 PM PST

    I got tipped hundreds of dollars via the Brave token - was really happy, then Brave decided to keep the money and accuse me of fraud!

    Posted: 07 Dec 2018 11:33 AM PST

    Hopefully they don't also control this subreddit so my story can be heard. I complained to them on their subreddit and my post was locked to limit damage to their brand.

    As you might know, Brave browser and the BAT token are supposed to change the way the internet works by paying users to watch ads and allowing site visitors to tip crypto to sites and content you like.

    I really liked the concept and created badges to promote them. Badges that made it easy to ask users to download the brave browser and promote them on their sites. Someone really liked my initiative and tipped my a few hundred bucks in BAT token (wooh!). All fine and well until Brave said this was fraud and decided to cancel my account and call me a fraudulent user.

    They just closed down my thread on their subreddit and are trying to do damage control, I strongly urge everyone to be extra skeptical as they have no transparency whatsoever and have shut me out after I promoted them for months!

    Their appeal process was a joke - they asked me to prove I did not fraud my contributions! How am I supposed to do that??

    A shame really as I really liked the idea. I guess execution really is everything and customer service makes or breaks these type of projects.

    *Edit: I can provide the email exchanges to the mods to verify it there is interest.

    submitted by /u/itwasinthetubes
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    Develop on a distributed ledger without blocks and miners? New Byteball developer resource released

    Posted: 08 Dec 2018 03:13 AM PST

    A word from someone who's been involved in crypto since 2012

    Posted: 07 Dec 2018 03:11 PM PST

    Chill out, and enjoy the development that happens during these bear markets. I've watched Bitcoin go from $60 to $1200 back down to $200. The markets are cyclical.

    It will likely last years before the next hype train, and if you are staying in crypto I urge you to learn as much about how it works as possible. The world always needs more makers.

    submitted by /u/4f626220456e7179726c
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    But riding the last bull run felt so good

    Posted: 07 Dec 2018 06:45 PM PST

    buy the rally..

    Posted: 07 Dec 2018 12:03 PM PST

    if you smart and not poor bear buy rally or cry q1 2019. you must take risk life if you want be rich. bear make no more money now short are to much risk now. why are you sell low? not listen to bear he tell you sell low and like he now hit crack pipe. buy the rally and acumulate more coin. the buy is not over. if you want safe invest go buy gold or play basketball game at gym against one leg grandama for $50 or become crack seller to bears

    submitted by /u/XiangWei1
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    Bounty0x Hunter staking is now live

    Posted: 07 Dec 2018 11:10 PM PST

    All 45,000+ Bounty0x Bounty Hunters can now stake BNTY to reduce platform fees!

    Bounty Hunters will be able to reduce platform fees to 12%, 9%, and 5%, by staking BNTY. In contrast, freelancing platforms like UpWork charge up to a 20% fee.

    Staking outline:

    • Wild West Hunter: Staking 10,000 BNTY reduces fees to just 12%
    • Anarchy Hunter: Staking 20,000 BNTY reduces fees to just 9%
    • Intergalactic Hunter: Staking 40,000 BNTY reduces fees to just 5%

    If you haven't joined Bounty0x yet, sign-up for free here and start earning crypto!

    submitted by /u/pask7
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    This sub during bull run vs now

    Posted: 07 Dec 2018 10:10 AM PST

    Last year: "I wish I was able to buy Ethereum under $100 (or whatever altcoin)"

    And those people didn't think twice about buying Ethereum over $500.

    Now: "I'll wait until it drops a little more."

    Too scared to buy Ethereum below $100.

    Stop being a wimp. This is how you make money. You buy BEFORE everyone else.

    submitted by /u/Boomroomguy
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    The Price of ETH When Cryptokitties Exploded

    Posted: 07 Dec 2018 07:03 PM PST

    WARNING: Substratum CEO Dumps Coins, Promotes Scam Icos and Lies.

    Posted: 07 Dec 2018 03:04 PM PST

    Questions for the Community to Judge. Devs to answer to.

    "Thanks for believing in substratum"- Justin tabb CEO.

    • The "under the table deal" that happened between these two raised suspicions as to why they would bypass the smart contract. It seems like Substratum was paid in cash.
      note the timelines in 2017
      Substratum ICO . aug 14- sept 14 (render pays them 5 million dollars
      )Render ICO. - oct 15- nov 30 (ico raised 77,000$)
      Are you telling me these people who nobody knows about had 5 million usd to invest in sub, and then do an ICO themselves one month later to raise 77k?? And nobody questions this?

    • 61.82% of Substratum "decentralized internet" Tokens Are Still Owned By The Devs. Any plans to get rid of some tokens? you promised to burn 41% of total supply. You had 17mos to send them to the eth 0 address.

    • Why have ALL your partnerships in the last 19 mos been failures or lies?

    1. lies about current clients to hype ICO
    2. lies about the NCF partnership
    3. lies claiming to have another 5m$ anonymous private investor in their second ICO when they can barely raise 11,000$ from the community. Forgive me for being skeptic, I did not forget the last time you claimed to have a 5m$ investor.

    Hope I kept it objective (facts and links are there for you to verify)

    DYOR.

    PS to add edit:

    So I asked an official substratum moderator on where the tokens are. Surely If none of them were sold they would have them in a wallet somewhere untouched right? I mean you arent suppose to touch "official" coins like they are your personal tokens for sale.

    So please, Since you claim to be the most "transparent" team. Where did your funds go? is that too much to ask?

    http://prntscr.com/ls956x

    What kind of investors dont even know their Token supply? and who owns them. They could be dumping under your noes and you would still be "buying the dip"

    submitted by /u/renzyfrenzy
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    Bithumb Overtook Binance In November To Become World's Largest Cryptocurrency Exchange

    Posted: 08 Dec 2018 04:01 AM PST

    Coinbase planning to list 30 new coins and tokens

    Posted: 08 Dec 2018 01:24 AM PST

    Morgan Creek Is Betting $1 Million That Crypto Can Beat the S&P

    Posted: 07 Dec 2018 01:36 PM PST

    Should Coinbase be renamed as Shitcoinbase? Announced additions of LOOM, DNT, MANA and CVC

    Posted: 07 Dec 2018 10:55 AM PST

    All of them are pumping hard on Binance and top four gains right now with DNT shooting up above 60%. FOMO's undoubtedly incoming.

    https://blog.coinbase.com/erc20-tokens-civic-cvc-district0x-dnt-loom-network-loom-and-decentraland-mana-are-b1af2f53d92b

    submitted by /u/CryptoKujira
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    BCH roaches and scammers still roaming around on this sub. Mods need to ban them and clean this up

    Posted: 08 Dec 2018 02:11 AM PST

    BCH BAB ABC BSV yeah yeah we get it, its the next bitcoin.

    These scammers have been patently trolling the entire crypto space for 2 whole year, creating one laughable shitcoin after another, and promoting these scam coins in the daily threads, and trolling valuable conversation and discussions.

    None of these scam coins be it BCH or BAB or BSV have any use whatsoever.

    BCH has less than 10k transactions on an average day unless its manipulated by "spam tests" to fudge the stats. There is no one using these scam forks that steal bitcoin's name.

    These scammers are the main reason for the tribalism in the space. Now since they have forked themselves into two, they are flinging mud and BSV trolls are claiming BSV is better than BAB, and BAB are doing likewise. This is absolutely laughable. Both are one and the same shitcoin.

    These scammers offer nothing of value to crypto markets. They have their own subs where every post is a shitpost, a tribal attack on bitcoin or among themselves.

    They need to be banned from r/CryptoCurrency. I am sure other users here who are also equally annoyed with these roaches can share the list of known BCH/BAB/BSV trolls, and there is a big bunch of these worms crawling around in today's daily thread for immediate banning.

    The market, hashpower have all spoken long ago. No one cares about this shitcoinery and "big blocks"

    submitted by /u/LtSurgeRaichu
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    Reminder, buying a Asset thats already down -80% from the ATH didnt prevent you from another value decline of >-85%

    Posted: 07 Dec 2018 01:23 PM PST

    HTC "EXODUS 1" blockchain mobile review. Will come pre-installed with Blockfolio, CryptoKitties, and Brave browser

    Posted: 07 Dec 2018 02:43 PM PST

    Semkodev - Decentralised cryptocurrency is dead

    Posted: 07 Dec 2018 11:58 PM PST

    Why was your fav coin not listed on Coinbase you ask?

    Posted: 08 Dec 2018 03:59 AM PST

    CME Bitcoin Futures Are Poisoning Crypto

    Posted: 07 Dec 2018 02:25 PM PST

    CME Bitcoin Futures Are Poisoning Crypto

    ​

    https://i.redd.it/09pk2d9tlx221.png

    https://cryptoiq.co/cme-bitcoin-futures-are-poisoning-crypto/

    The Chicago Mercantile Exchange (CME) launched Bitcoin futures on 17 December 2017, the same day the price of Bitcoin peaked near $20,000 and then began to crash, a crash that has lasted a year. Today, the price of Bitcoin is $3,200 and falling. The launch of the Bitcoin futures on CME and the drastic decline in Bitcoin's price is not a coincidence. The paper Bitcoins being printed on CME and simultaneous short selling are poisoning the entire crypto space. That's especially true since the CME Bitcoin futures are playing an increasing role in setting Bitcoin's global price as will be explained below.

    Bitcoin is supposed to have a maximum supply of 21 million Bitcoins, and this is true for actual Bitcoins, but the printing of paper Bitcoins on CME is inflating the supply of tradeable Bitcoins beyond what is actually in circulation. CME, via COMEX, is doing the same thing to the gold market. Tremendous amounts of paper gold are being printed on COMEX, as well as London OTC, leaving gold prices hopelessly supressed even though they should be rising as fiat inflation increases worldwide.

    In order to understand how poisonous CME Bitcoin futures are for the crypto space, it is best to understand how COMEX has ruined the gold markets. Gold is something that is physical and must be mined from the Earth, which requires great expense and effort. However, COMEX and London OTC issues paper gold with a click of a button. An article in 2017 by Bullion Star gives great insight into this situation. London OTC has the greatest 'gold' volume in the world, but there is 15,000X more paper gold traded than actual gold. Worldwide in 2016, including all spot and futures exchanges, the paper to physical ratio for gold was 233:1.

    The real danger comes from the fact that paper gold markets are setting the global price of physical gold. Obviously the price of paper gold is far lower than what gold should be since there is so much more paper gold than actual gold. Further, even though COMEX is by far not the biggest paper gold exchange by volume, it is the dominating force in setting global gold price since COMEX is more accessible and has extended trading hours via GLOBEX.

    The Bitcoin Futures on CME are also on GLOBEX, so in effect, the same people, who have ruined the gold market's profitability and are stealing from everyone who owns actual gold, have copied and pasted this strategy into the Bitcoin market. There is one slight adjustment that makes the Bitcoin futures even more vicious than gold futures. Holders of gold futures can receive physical delivery, but no such option exists for Bitcoin, removing any possibility that the CME Bitcoin futures can help Bitcoin's spot demand.

    ​

    https://i.redd.it/z59fx7culx221.png

    Thus, Globex and CME are experts at setting global spot prices for assets, even for huge markets like gold. Bitcoiners are largely unaware of this and need to realize that a paper Bitcoin market on CME, which can print as many Bitcoins as it wants, is beginning to set the global Bitcoin price. People are looking for all sorts of reasons why Bitcoin is going down, but many fail to see the obvious influence of the CME Bitcoin futures markets.

    CME Bitcoin futures have been increasing in volume in lockstep with Bitcoin's price decline. In the below, chart each contract is equivalent to 5 Bitcoins. In Q3 2018 the trading volume of CME Bitcoin futures was 757,950 paper Bitcoins per month on average.

    https://i.redd.it/3r9u55xvlx221.png

    The Federal Reserve, the biggest bank in the world, concurs with the notion that CME Bitcoin futures have caused Bitcoin's price decline.

    "The peak price coincided with the introduction of bitcoin futures trading on the Chicago Mercantile Exchange," The Federal Reserve said in a May 2018 letter. "The rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence. Rather, it is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset."

    The Federal Reserve also attributes the year-long Bitcoin price decline to short selling on the Bitcoin futures market. Basically, people pessimistic about Bitcoin bet on Bitcoin going down when the futures launched. Those sentiments become reality on the spot markets because Globex sets the global Bitcoin price. This is especially true since institutional investors have practically no other options besides these paper Bitcoin futures on CME as well as similar Bitcoin futures on the Chicago Board Options Exchange (CBoE).

    So how can Bitcoin and the crypto space escape the stranglehold of the CME Bitcoin futures? The Bitcoin futures and gold futures are backed by the dollar, and it will take a total collapse of the dollar to free gold and Bitcoin from this highly coordinated, top-level, worldwide market manipulation.

    Essentially, it has become a war between cryptocurrency and fiat, whether Bitcoiners like it or not. The launch of CME Bitcoin futures is equivalent to a nuclear attack on the Bitcoin market, but there are other forces in play. The United States debt is approaching $22 trillion, and the government cannot afford to cut the deficit, so this debt will continue to spiral out of control, and that will cause the dollar to inevitably fail.

    Bitcoin is positioned perfectly to be the primary global currency when the total collapse of fiat inevitably happens. The next major Bitcoin rally may have to wait until the dollar enters hyperinflation and collapse mode, and there will be a simultaneous major gold rally. No other Bitcoin rally in history will compare to the one that is coming when the house of paper Bitcoins, paper gold, and fiat burns down.

    submitted by /u/turtlecane
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    How much below the market price was the mining cost of one BTC in earlier bear markets?

    Posted: 07 Dec 2018 03:01 PM PST

    And for how long did miners have to mine for a loss? These questions are probably more important than technical analyses, but I did not see any serious discussions on them. I will be happy to hear your thoughts, and visit the links you may provide.

    submitted by /u/HotDouble
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    Seriously though who is still selling at this point?

    Posted: 07 Dec 2018 08:34 AM PST

    Honestly I lost money but I would be crazy to just cut losses at this point. I have already considered the investment gone so I am not worried about it anymore.

    So I am curious to know how many of you are actually selling this low and/or cutting losses? It seems like there is still quit a bit of sell pressure but I'm not sure why anyone would logically sell this low unless there is still a lot of early Bitcoin/ETH whales that don't want to lose the last bit of profit they had from the bull market.

    Thoughts?

    submitted by /u/CryptoGod12
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