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    Cryptocurrency Daily Discussion Megathread - January 1, 2019

    January 01, 2019

    Cryptocurrency Daily Discussion Megathread - January 1, 2019

    Daily Discussion Megathread - January 1, 2019

    Posted: 31 Dec 2018 10:05 PM PST

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    submitted by /u/CryptoCurrencyMod
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    Why Nobody Talks About Financial Incentives For Average People To Use Crypto?

    Posted: 01 Jan 2019 01:50 AM PST

    alright, so everybody in crypto) talk about how we can make it easier for average people out there to buy cryptocurrencies. But none of them seem to think a lot about 'financial incentive'. They only talk about how the tech is faster, decentralized, and more secure but average people don't really care about that. I will show you what I mean.

    So, I have talked with non-crypto people in real life. People that I know who never care about crypto. I explained the basics about crypto. Then, usually when I asked them what can persuade them to use crypto outside the speculative investment factor, they will ask this question "but, why do i need to care about decentralization? Why dont you tell me why crypto can make my life easier?"

    Well, here's the problem. They still need to sign up with coinbase or another fiat/crypto exchange, do KYC whatever, before they can actually use it. so, if they want to send the money right now to another country, they think it's too much of extra steps if they have to use crypto. It creates a chicken and egg situation because they are too lazy to sign up with a crypto exchange and they dont mind if their business partner in another country have to wait 1 business day. The way I see it, most people feel like this -> "If I send the money now, my business partner/family only need to wait 1 business day. If I send it with crypto exchange, I need to sign up with this coinbase thing, wait for awhile, and my business partner/family also need to sign up with this coinbase thing, before they can cashout the crypto back to fiat" <- and this is why they don't see any benefit of doing this extra step even after I explained it to them that they only need to sign up once. But they just dont care because they see it from the "now" perspective, they can't see it from their future cross-border transactions perspective.

    So, it made me think about something. people don't mind to do 'extra step' and go through all the inconvenience to sign up with a new app, transferring money to this new app instead of doing bank transfer directly, as long as they can see financial incentives for them to do so. Without financial benefits, they won't do it. I feel that crypto community rarely talk about these financial incentives to average joes out there for mass adoption.

    For example, nobody says "yo, buddy. you can save yourself $25 swift fees if you use fast crypto like XRP or XLM or NANO instead of direct bank transfer". Whenever people discuss cryptocurrencies, it's almost always about "should I invest in this thing? It can go up to $xxxxx, right?"

    When you tell average people in the real world that they can "save $xxx money" by pointing out how expensive our current cross-border transaction through the banking system is, they would start listening.

    plus, nobody actually talk about these 'incentives' to the average joes out there. We only talk in circles, we only promote to each other. Only to someone else who's already in crypto. I have yet to see coinbase or any big corporation actually make any advertisement about these 'benefits compared to our current banking system'.

    Litecoin, etc. rather promote themselves in UFC (which is still good for exposure, dont get me wrong!). But, yeah..you get the point. None of them talk about how people can benefit financially by switching from our current system to crypto. They rather sponsor UFC fights and all the other irrelevant events.

    And one more thing. people often talk about how 'volatile' cryptocurrency price is, and it scares them. this is why an 'automatic' conversion from crypto back to fiat is extremely important in my opinion.

    I mean, put yourself in their shoes. Let's say you want to send $10K to your mom in another country. The ETH or BTC has arrived in your mom's coinbase account but she's currently outside. She'd worry that BTC might drop so she has to open her laptop/phone and convert it to fiat before the value drops. Why none of these exchanges think about 'automatic fiat conversion' option so average people who only use these exchanges to receive money from their loved ones/business partner outside the country no need to worry about their crypto value? I mean, of course we have stablecoin option too, but that's beside the point, because many crypto-to-fiat exchanges in different parts of the world do not have that much liquidity for stablecoin (or they dont even have stablecoin pairing)

    submitted by /u/fabzo100
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    The good old days: Happy New Years!

    Posted: 31 Dec 2018 01:21 PM PST

    Bitcoin closes with 5 consecutive red candles on the 1M chart for the first time ever. Happy New Year!

    Posted: 31 Dec 2018 09:09 PM PST

    Warning: BitHumb is a huge scam

    Posted: 01 Jan 2019 01:16 AM PST

    This exchange takes the cake for the most shady thing in crypto right now.

    Just have a look at the volume that is being traded here:

    https://coinmarketcap.com/exchanges/bithumb/

    It says Monero volume alone is : $719,292,189

    On CMC, Monero's actual day volume is only $11.5 m. Its incredible that one exchange can claim to have 60 times Monero's entire volume on every other exchange. Infact BitHumb's trading volume is close to Monero's market cap is $774,083,587

    Looking at the order book, its entirely wash traded, same order quantity same price : https://imgur.com/a/sRND0uA

    Just last week another Korean exchange UpBit employees were indicted in a court for wash trading: https://news.bitcoin.com/korean-cryptocurrency-exchange-upbit-fraud/

    They allegedly made bogus crypto orders worth approximately $226 billion and sold 11,550 BTC to around 26,000 investors. Upbit has denied the charges and insisted that it did not commit fraud, engage in wash trades, or trade cryptocurrencies it did not own.

    This is the same shit that BitHumb is pulling, except it has moved from Korea to Singapore now in order to run from Korean authorities.

    As long as scummy exchanges like this exist, crypto will never be considered as a legitimate asset class. You can bid any ETF chances goodbye, the SEC is always going to point out jokes like this and if they dont, they will be in trouble for allowing ETFs when there are large scale scams that are being unashamedly perpetrated without any consequences.

    Detailed report on this scam can be read here: https://blog.cryptoexchangeranks.com/investigations/unusual-a-b-testing-which-trading-volume-manipulation-to-choose/

    submitted by /u/hashitropic
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    Nano-based company BrainBlocks is attempting to become the world’s de-facto payment processor and digital wallet, with instant settlement times and zero transaction fees

    Posted: 31 Dec 2018 06:21 PM PST

    Bakkt raises $182.5 million in first capital raise

    Posted: 31 Dec 2018 06:47 AM PST

    We should do something as a community to get CoinMarketCap and other sites to stop listing SCAM EXCHANGES

    Posted: 31 Dec 2018 01:42 PM PST

    We should do something as a community to get CoinMarketCap and other sites to stop listing SCAM EXCHANGES

    It's no surprise to anyone that there are a lot of Chinese rip offs and scam exchanges popping up recently. In fact, almost all of the fake ones or scammy ones have way more volume than their real counterpart due to wash trading.

    ​

    I feel that we as a community should raise awareness on this issue so that new comers won't fall victims to these exchanges.

    ​

    Eg.

    Real Deal Chinese Rip off
    BitMEX BitMax, CoinMex
    Bitfinex Bitforex, Digifinex
    Coinbase Coinbene

    ​

    Interestingly a lot of these "scam" exchanges have their UI very similar to each other and are all launched during or around the December 2017 euphoria phase.

    ​

    https://i.redd.it/qis3zmhjoo721.png

    submitted by /u/Ernest_EA
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    HITBTC restricting withdrawal ahead of Proof of Keys event. Account has passed KYC and granted VERIFIED status

    Posted: 31 Dec 2018 05:30 PM PST

    Cypherpunk Jameson Lopp: "Bitcoin is an experiment that, if successful, could make the transition to an anarcho-capitalist society possible." Bitcoin Could Revolutionize Governance

    Posted: 31 Dec 2018 04:18 PM PST

    Bitcoin 2019 - What Lies Ahead (a surprisingly well researched and unbiased article by Forbes]

    Posted: 31 Dec 2018 06:03 PM PST

    Acceptance. . .

    Posted: 01 Jan 2019 01:00 AM PST

    CEO Becomes First Crypto Billionaire to Pledge Bulk of His Wealth Towards the Greater Good

    Posted: 31 Dec 2018 02:39 PM PST

    Best places to spend Bitcoin

    Posted: 31 Dec 2018 09:34 PM PST

    Bitcoin is the largest and most popular digital currency. In the beginning, Bitcoin was for pizza but not anymore. This currency is by far borderless, and it will do much more than get you pizza. This is as a result of many companies accepting this currency in completing transactions. If you were withholding your Bitcoin worried about how to spend it, this article will be helpful. You will be amazed by the convenience of spending it on your favorite online sites.

    In this article, we will highlight the leading platforms accepting this mode of payment. These are the best places to spend Bitcoin online. On these platforms, all your needs will be fulfilled satisfactorily.

    Social media marketing.

    InstaSmarter.com is a leading social media marketing company ideal for internet marketers and entrepreneurs. Their unique services guarantee consistent growth in social media following. Their expertise will boost your Facebook, Instagram, YouTube, and Pinterest following thus improving your brand popularity. They accept payment through Bitcoin, Litecoin and other forms of cryptocurrencies. InstaSmarter is essential to bloggers, musician, photographers, and internet marketers looking forward to increasing social media following.

    Gold and silver acquisition.

    Are you interested in purchasing gold and silver bars or coins? Bitcoin Commodities has got you covered. Through this online platform, you can purchase these precious metals without a hustle. Through their customized services, they will ship your order anywhere in the world. This is one of the best places to spend Bitcoin.

    Online shopping.

    If you like shopping online, Overstock will let you pay via Bitcoin. This online store offers everything from jewelry, furniture, electronics, clothing to bedding and tools. All these can be purchased and paid by Bitcoin. Overstock also accepts other forms of cryptocurrencies. This shop is essential if you're looking forward to spending your Bitcoin shopping.

    Traveling.

    Various travel agencies are accepting Bitcoin. If you wish to make travel arrangements, you can easily book your tickets with Bitcoin. Agencies such as CheapAir, Expedia and Webjet will let you spend your Bitcoin on both international and domestic flights. Expedia will even let you pay for hotel bookings using digital currency.

    Pay for TV.

    TV payments can be made using Bitcoin. Satellite TV providers such as Dish have been accepting Bitcoin for quite a while. This is essential in ensuring that you enjoy your TV subscription without using any other form of currency. This payment is also made online thus a smooth TV subscription payment process.

    Movies and games purchases.

    If you are into online gaming, it's a relief to know that Bitcoin is accepted as a mode of payment. Microsoft, for example, allows their customers to purchase movies and games from their Microsoft accounts using Bitcoin. This is vital to gamers owning Xbox consoles as they can spend their Bitcoin on the Xbox store.

    Gift cards.

    Buying gift cards with Bitcoin will help you spend it with companies that do not accept Bitcoin. These gift cards will also be great presents for friends and family. Gift cards can be purchased from eGifter.com an online site offering more than 250 gift card brands. These will see you getting an Uber paid through cryptocurrency.

    Charity.

    Charitable organizations such as Greenpeace and Red Cross are now accepting Bitcoin. Making a donation is now easy as you can send your donation online. This is essential in helping outreach the needy without using physical currencies. It is also a great way to spend your Bitcoin by funding charity outreach.

    Luxury goods.

    Purchasing luxury goods has never been this easy. At BitPremier, you can purchase high-end works of art or a performance sports car and pay with Bitcoin. Real estate property can also be purchased here. This is essential to customers making these purchases using cryptocurrency.

    Tuition payments.

    University students can pay tuition fees using Bitcoin. The pioneer of this trend is the University of Nicosia in Cyprus. Studying here will enable one to make tuition and other fees payment through digital currency. As this trend will soon be global, it will be the best way to make fees payments.

    submitted by /u/instasmarter
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    Don’t worry 2019 is going to be a great year for crypto and here’s why.

    Posted: 31 Dec 2018 10:05 PM PST

    I went into the woods earlier today and tranquilizer a bear. Brought to my local church put it on the alter, and slaughtered it and then proceeded to drink a pint of bull's blood. Needless to say it's going to be a great year. Happy New Years folks!

    submitted by /u/th3glory22
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    Iran Criminalizes Use of Telegram’s Cryptocurrency

    Posted: 01 Jan 2019 01:26 AM PST

    Lightning Network: Onboarding, Spending, Reliability - User Experience Compared to Bitcoin Cash

    Posted: 31 Dec 2018 05:03 PM PST

    May The Bulls Be With You In This 2019!

    Posted: 31 Dec 2018 04:09 PM PST

    Compiled list of people/organizations that put you first and gave sound advice in 2018, instead of their own gains!

    Posted: 31 Dec 2018 05:40 PM PST

    With all the FUD, fake news, ridiculous predictions, horrible advice, selfish gains and scammer in 2018; I think it would be great to compile a list of people or organizations that actually were right at the end of the year and gave sound advice. I feel like with everyone's input in the community, we can compile a great list for subscribers to use in 2019.

    ​

    If you want 2019 to be a successful and wealthy year, please comment below with your input along with your reasoning. If you don't have any input but like the idea please help us by up-voting this. I will update this post if the input starts coming in. Lets have a useful resource to end the year with on this sub and lets keep it helpful and civil.

    submitted by /u/rothsadult
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    Prediction: 2019 Will Be The Year Of The Mobile Crypto Wallet

    Posted: 01 Jan 2019 03:36 AM PST

    "Bitcoin's 3 Market Cycles: Time & Price Analysis" by trader StrivingYogi — published December 31, 2018

    Posted: 31 Dec 2018 08:02 PM PST

    Iran Labels Telegram’s Coin a Threat to National Security ��

    Posted: 01 Jan 2019 03:30 AM PST

    [Adoption] PayIOTA.me offers a way for merchants to accept IOTA payments!

    Posted: 31 Dec 2018 09:02 AM PST

    BitcoinNews.com Daily Podcast 31 December 2018: How Will Bakkt Impact Bitcoin Market?

    Posted: 01 Jan 2019 03:15 AM PST

    My wish for 2019

    Posted: 31 Dec 2018 03:48 PM PST

    I'm in no position to tell anybody anything and I'm glad for whoever reads this. I'll keep it short.

    Crypto community is something still very new, there was nothing like us in the past. We can solve and sometimes create problems which are parents never thought about, thats something more bullish then some numbers after dollar symbol.

    So I would like to ask anyone who is thinking about becoming more active in crypto in whatever field he or she likes to do it. Holding a coin is nice, but nowhere near pro-active approach.

    Tldr: Stay awesome, be active!

    submitted by /u/LamboJambo
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    I am not sure what is happening, but, take a look at this—An overwhelmingly positive market sentiment growing and being correlated with a potential soon-to-be price increase (the market is shifting to green on CoinMarketCap)

    Posted: 01 Jan 2019 12:11 AM PST
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