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    Cryptocurrency Daily Discussion - June 28, 2019 (GMT+0)

    June 28, 2019

    Cryptocurrency Daily Discussion - June 28, 2019 (GMT+0)

    Daily Discussion - June 28, 2019 (GMT+0)

    Posted: 27 Jun 2019 05:16 PM PDT

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

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    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 The prior exemption for karma and age requirements is no longer in effect.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.
    • Comments will be sorted by newest first.
    submitted by /u/AutoModerator
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    VeChain has just surpassed Ethereum in blockchain activity ranking!

    Posted: 28 Jun 2019 01:00 AM PDT

    The retail investor community has the memory and logic of a literal goldfish.

    Posted: 27 Jun 2019 05:58 AM PDT

    It has been just under three years since I've joined the subreddit, and just over three years since I started being interested in cryptocurrency. After countless hours of research on the various industries being disrupted, after reading whitepapers, parsing through the profile of team members, watching recorded conferences and making calculations based on demand and market size, I can write with full confidence that the overwhelming majority of the community of crypto investors is retarded. Never have I seen a market that is less focused on growth objectives, or that circlejerks harder to news and announcements whose impact they don't even try to measure or fully understand.

    In all honesty, it's not that surprising. The tech itself is more or less difficult to understand (anyone with an engineering, computer science, economics or finance background should be able to grasp the underlying concepts and realize why distributed ledgers have vale, despite not being familiar with every key concept) but the extremely hard part is picturing exactly how efficiencies are bound to be created on an industrial level, and how impactful they will be. In other markets, this is why there exist ratings, panels of experts, consulting groups. They perpetually gauge the health of various industries and make predictions based on trends, to help others make informed decisions. Even then, a layer of speculation (and thus, manipulation) always exists, but the ratio of speculation vs. real demand tends to be in a different league entirely.

    Despite knowing or suspecting this, however, the same shit happens every time here. Bitcoin starts to drop, and the trolls come out of the woods to spread their depressive thoughts onto everyone else. Altcoins start to shine, and the morons who bought during the frenzy and are seeing 10% gains for the first time in weeks, months, if not ever, start tugging each other and patting themselves in the back and writing essays as to why DPoS experiment #898 (which doesn't even have a main net yet) is on track to being massively adopted and is definitely the best buy opportunity of the decade. Bitcoin starts to rise again, and suddenly all money floods from the rest of the market to feed Big Daddy and every single other project is a shitcoin again and they'll never amount to anything ever.

    It is beyond frustrating to see how easily everyone is being manipulated. Short-term fluctuations in the market doesn't make you right, and it doesn't make you wrong either. There are basically zero candid discussions on the state of the technology and how it stands relative to adoption. There are basically zero attempts to map out the ecosystem in a comprehensive way so that 'investors' can have a clear picture of how some projects might interact with each other, allowing us to formulate enlightened guesses as to how much market share each might capture. Nobody seems to give a shit about decentralization at all, but I suspect for the vast majority, it was never about freedom and fairness, only profits.

    Everybody strictly only celebrates when the market moves up without ever questioning the validity of that movement. When an asset inflates without any fundamental reason, its only achievement is the creation of a bubble that will inevitably result in severe losses for the majority of investors.

    With the size of this community (this subreddit alone), we have the power to warn others and to influence the market by infusing some rationality into it. So please, take the time to encourage others to look beyond immediate gains and to research the field. Take the time to criticize twitter "influencers". Take the time to reach out to professors, industry professionals and other knowledgeable experts to ask them their thoughts about specific projects and the market as a whole. We desperately need to create a global stage on which there is informed discourse, else this market will never truly grow.

    submitted by /u/bLbGoldeN
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    Vechain just passed Ethereum on Blocktivity.

    Posted: 28 Jun 2019 01:10 AM PDT

    Vechain now has more enterprise usage on chain than Ethereum. This is adoption. Keep in mind tomorrow it will fall back down again, due to it being a weekend, but should continue its growth on Monday. This is incredibly exciting for the entire space. Real world usage is what were seeing.

    submitted by /u/Purple_Flair
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    Edward Snowden comes out as early Bitcoin adopter "The servers that I used [when whistleblowing against the NSA] were paid for using Bitcoin."

    Posted: 27 Jun 2019 07:41 PM PDT

    Is Bittrex the next Mt Gox?

    Posted: 27 Jun 2019 08:05 PM PDT

    Netflix's Altcoin Documentary Could Push Crypto's Bull Run Even Higher

    Posted: 27 Jun 2019 11:31 AM PDT

    Altcoins...

    Posted: 27 Jun 2019 10:17 PM PDT

    Just checked /r/Bitcoin, no mention of high transaction fees or 95k unconfirmed transactions (few hours ago)

    Posted: 27 Jun 2019 09:08 AM PDT

    Whole first page of /r/Bitcoin is filled with price pump topics, some guy even dreaming about 330k$ Bitcoin inside one year. It's unimaginable how badly would the Bitcoin network congest on such prices if it cannot withstand current hype and transaction volume. The fact is that Bitcoin is no where near ready for mass adoption and whoever thinks this BTC run vs "shitcoins" is gonna last much longer is gonna get a reality check pretty soon. There are blockchains which can scale with instant speed and no fees, green and so on. Bitcoin is the first one and it showed us the light and we all love it. It's a good store of value since your funds are protected with a lot of hashing power but that's about it. P2p transaction market, m2m transaction market and smart contracts niche will need their own native platforms and they do exist and pretty much should not depend on Bitcoin at all.

    ​

    Oh yeah, r/Bitcoin are all about Bitcoin being "the most decentralized" argument, but it seems to me like it's a fact that CZ from Binance is not supporting Segwit and cheaper transaction because of his close ties with Bitmain (most hash rate on Bitcoin), who is also not supporting it and rather has it congested with high fees as it is to milk more money from the users. Those are 2 people manipulating the whole Bitcoin blockchain because of their own personal gains, that's how decentralized Bitcoin is today.

    submitted by /u/ureindanger
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    ICON Development Roadmap Update — Jun 2019

    Posted: 28 Jun 2019 01:21 AM PDT

    The Indicator That Predicted The 2018 Altcoin Pump Is Forecasting Another Huge Run.

    Posted: 27 Jun 2019 05:03 PM PDT

    Now you can directly tip Reddit posts with BAT using Brave Dev browser! Could that mean if Brave becomes go-to browser in the future, Reddit coins will be useless?

    Posted: 28 Jun 2019 01:04 AM PDT

    Brave Browser allows tipping individual posters in Reddit!

    Posted: 27 Jun 2019 12:22 PM PDT

    I just noticed it today, i'm using the below version:

    Version 0.68.84 Chromium: 75.0.3770.100 (Official Build) dev (64-bit)

    I see a little "Tip" Icon at the bottom right of each post. I've yet to try it out yet though.

    submitted by /u/ras29298
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    Prominent Analyst Warns That Not All Altcoins Will Surge During Next Bitcoin Bull Run

    Posted: 28 Jun 2019 12:47 AM PDT

    OmiseGo Launches: GO.Exchange

    Posted: 27 Jun 2019 05:03 PM PDT

    5 Foods “Made In China” To Avoid. Blockchain to save us?

    Posted: 28 Jun 2019 03:55 AM PDT

    Loki coming to Binance DEX soon

    Posted: 27 Jun 2019 11:58 PM PDT

    I’d hate to be a Trader.

    Posted: 28 Jun 2019 03:15 AM PDT

    Non-Technical Guide to Security Tokens

    Posted: 28 Jun 2019 03:58 AM PDT

    Why on earth do exchanges crash when there is double the volume on Bitcoin?

    Posted: 27 Jun 2019 10:47 PM PDT

    Yesterday, Coinbase crashed when Bitcoin had a 20% drop from $14,000 to $11,000.

    Why did it crash then, at this point there was only double the volume as usual. https://coinmarketcap.com/currencies/bitcoin/

    Not even the Bitcoin blockchain was clogged with its 10TPS max and its mempool was rather empty the whole time. So, does that mean that Bitcoin can do more traffic than Coinbase?

    It's not like Coinbase can only do 10 TPS and has scaling problems. Coinbase is a centralized database that with no problem can do several million TPS.

    Why did they crash when they had to handle like 20TPS instead of 10 TPS yesterday?? This should not even be 0.01% of their capacity.

    submitted by /u/galan77
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    $5 in bitcoin for Delta App users who are willing to complete an anonymous survey for a user centred design study

    Posted: 28 Jun 2019 12:44 AM PDT

    My friend is doing a UCD study on the Delta app for his Uni course and needs to find users of the app willing to participate. He is offering $5 in bitcoin for those willing to participate.

    If you use the app and are willing to participate please comment below. He will pm you the link to the google docs survey and a survey key to claim your reward.

    The survey is anonymous and is ~15 questions.

    Edit: - First 25 survey respondents will receive reward - survey takes around 5 minutes to complete - reward going to be paid in ETH instead of btc due to fees - to clarify, reward is $5 aud which is roughly $3.70 usd, apologies forgot to clarify at start - thanks all have sent survey to enough participants thanks for all those that participated

    submitted by /u/gaskills
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    Semiconductor Leviathan STMicroelectronics created X-CUBE-IOTA1 - software expansion for STM32Cube

    Posted: 28 Jun 2019 04:10 AM PDT

    I had 10 Bitcoin in 2013 - now I have 1. Lesson for alt coin buyers

    Posted: 27 Jun 2019 08:28 AM PDT

    So when I tell people that I have owned Bitcoin since 2013, most assume that I am rich. I don't come from a rich or even middle class family, so I didn't have that much to invest (my industry also was replaced by technology). I did take basically every extra money I had and put it into stocks from 2011-2014. It was because of my connection to stocks that I learned about bitcoin. I read everyday as bitcoin went from $150 to $250 to $350. At around $600 I made the decision to invest. but by the time I got setup with coinbase BTC was over $1000. It was because of Cameron Winklevoss that I bought in. He said that he though Bitcoin would one day get up to $40,000. And I'm like...ok. So not knowing ANYTHING about Bitcoin other than buzzwords like"its the future" I bought 10 bitcoin. My wife was 100% against it. Which was understandable since we didn't have floors in our house.

    No I'm not kidding. I had 5 figures in stocks while we lived in a house with just plywood floors because I knew that stocks were a better investment than floors. Plus carpet was not possible because I have bad allergies and hardwood floors were going to cost 10k+

    It didn't help when I (thought) I bought Bitcoin at the worst possible time. I watched as it went from $1000 to $400 to $150 over the next few years. I did not buy more because of my wife.

    Rule #1 - Do not listen to your wife when it comes to investment decisions. Women are (generally speaking) not risk takers and will usually side with being cautious. They mean well and sometimes a little caution is necessary. But nothing great has ever been achieved being cautious. Not buying more Bitcoin when it was $150-$300 is the worst financial decision I've ever made.

    Because Bitcoin was dropping, and I knew so much more about cryptocurrency after a few years, I decided to sell most of my Bitcoin into alt coins. Specifically Peer Coin. Peercoin was the FIRST Proof Of Stake coin. Many of the POS models are based off of Peer Coin. I believed that Bitcoin would eventually be unsustainable due to the massive amounts of electricity and Peercoin would solve that issue. I bought Peer Coin at about 50 cents and years later sold it for $4. I had made a sound investment! The problem is in holding my money in Peer Coin I lost 6 BTC. BTC out performed Peer Coin.

    When Bitcoin hit $1000 again I sold my Peer Coin into Bitcoin and when Bitcoin ran up to $4000 I sold most of it. I then watched as it climbed to $11,000! I got back in but THIS TIME I COULD ONLY AFFORD JUST OVER 1 BTC. I was ecstatic when it hit 25K and then watched as it went down to 4k again.

    So where as I should have had 10 Bitcoin, because of fear, impatience, and trying to find coins to BEAT Bitcoin I now only have just over 1.

    Rule #2. Alts will hurt your feelings...mostly Keep most of your money in Bitcoin or possibly Ethereum and less money in Alts THAT HAVE ALREADY HAD ADOPTION.

    Most Alts over value themselves during ICOs. You have the least amount of information and the most amount of hype. You are so early in the game that you can afford to wait until something is proven. For example Vechain has more adoption now than ever but its price is lower than when I bought it 2 years ago. Now might be a time to consider buying, because things have already started to happen.

    My experiences have also taught me to buy bitcoin in monthly installments. So every month I take whatever spare money I have and I divide it into the projects I'm invested in with Bitcoin getting the most share. Because of that I am hugely profitable

    Rule #3 Buy bitcoin and other coins that are already seeing ADOPTION every month and don't get caught in the day to day price. Many people are freaking out about Bitcoin being down $2000 in the last 24 hours. I actually WANT bitcoin to be down because that means I can buy more. I KNOW that bitcoin will continue to rise in the future as there is more adoption. My wife is now 100% on board because she understands it now.

    Its a long journey, and you are STILL early. People STILL don't know about bitcoin and far less use it. There is no need to put your hard earned money into some project that MIGHT do something. Let them prove themselves first.

    *As I type this I see that Peer Coin is now $0.42. Less than what I paid 6 years ago.

    submitted by /u/truffledust
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    Wasup Coinbase! Can we got some communication please?

    Posted: 27 Jun 2019 03:48 PM PDT

    Any info on coinbase?

    We need answer, 2+ hour pending order, are u victim of DDOS? Just give us explanations please....

    Just bought some coins when btc was at 10 550 $ more than 2 hour ago. Then error 500 for 15 min and now, order pending since 2 hours+, u need to communicate with ur customers ffs...

    submitted by /u/panzecrypt
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    ChainLink - Coinbase - Staking - Speculation

    Posted: 27 Jun 2019 06:39 AM PDT

    ChainLink - Coinbase - Staking - Speculation

    Hello there,

    ​

    What you will find below is pure speculation, but i find it highly probable considering Chainlink and Coinbase respective goals. Let me know if you have any other point to raise.

    ​

    In the coming months, COINBASE will start selling massive amounts of financial data by creating Chainlink nodes. This will completely disrupt the Finance sector and boost the overall blockchain ecosystem by allowing all public and private blockchains to use real world data in their smart contracts.

    ​

    https://i.redd.it/opzc1liwiw631.png

    ​

    ​

    What we know

    • As you all know, COINBASE PRO just added CHAINLINK to its list of traded tokens : https://blog.coinbase.com/chainlink-link-is-launching-on-coinbase-pro-d0b068e9070d
    • Chainlink is a decentralized Oracles system that allows smart contract to use real world data in order to fuel the smart contract economy. Chainlink is partnered with a lot of huge corporations (Oracle, SWIFT), Tech companies (Google) and Blockchain companies (V System, Harmony, Dapps...)
    • COINBASE aims at becoming one of the leading Staking-as-a-Service provider - we've already seen what happened to Cosmos since Coinbase announcement to allow end users to stake their tokens directly through the Coinbase wallet
    • STAKING LINKS will be available in the coming months. As you may not know, staking LINKS is not like staking ETH or TeZos. It can be way more lucrative since we're actually using LINKS as a collateral to 'sell' data to smart contracts. These smart contracts having potentially a lot of underlying value (think about a single Millions dollars derivative - and now think about millions of derivatives, stocks, and bonds...), smart contract users will require Nodes to STAKE a LOT of LINKS to trust them enough, in order to automatically feed their smart contracts with real world data.
    • Finance is the first sector that will be disrupted by Blockchain Technology. This is what we call 'Decentralized Finance' (DEFI). BUT, What currently lacks to smart contracts is the ability to retreive offchain rates like EURIBOR, EONIA, FIAT to FIAT rates, stocks prices, or any other financial indicator used by derivatives and stocks markets

    ​

    ​

    https://i.redd.it/da9knx0klw631.png

    ​

    Conclusions

    • LINK will also be added to COINBASE in a near future, like any other crypto added to coinbase pro in the first hand
    • COINBASE will offer STAKING-as-a-Service for LINKS Holders through their Coinbase wallet
    • COINBASE will create a CHAINLINK NODE and start selling their financial data (FIAT/CRYPTO and CRYPTO/CRYPTO) to smart contracts providers (MKR, DHARMA, Compound, and all the DeFi projects waiting for ORACLES). Coinbase will become a direct competitor of Bloomberg and Reuters
    • We will be able to STAKE our LINKS direclty in a COINBASE NODE, to share their revenues (paid in LINKS), which will be HUGE as it will be the only trustless bridge to the real financial world !!!

    ​

    In my opinion, this is going to happen in the coming months as it's both in the interest of CHAINLINK and COINBASE. THIS WOULD BE THE FIRST REAL STEP TOWARD A FULLY DECENTRALIZED FINANCE !!!

    submitted by /u/EtienneRoy
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    TenX is now rolling out its card in Europe, though this card is only the first step – the company is working to help build a decentralized future.

    Posted: 28 Jun 2019 03:18 AM PDT
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