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    Cryptocurrency Daily Discussion - February 9, 2020 (GMT+0)

    February 09, 2020

    Cryptocurrency Daily Discussion - February 9, 2020 (GMT+0)

    Daily Discussion - February 9, 2020 (GMT+0)

    Posted: 08 Feb 2020 04:10 PM PST

    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 The prior exemption for karma and age requirements is no longer in effect.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.

    To see prior Skeptics Discussions, click here.

    submitted by /u/AutoModerator
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    We did it boys, $10k

    Posted: 08 Feb 2020 07:29 PM PST

    Using Bitcoin for Illicit Purposes Is Harder Than Using U.S. Dollar

    Posted: 08 Feb 2020 07:38 AM PST

    Get ready for the "Bitcoin COULD reach XXX amount, and here's why..." posts

    Posted: 09 Feb 2020 12:59 AM PST

    Every time crypto is in an uptick, there are tons of posts like this. Please everybody, be aware, nobody can look in the future. Also know that this has been said for the past 3 years over and over again, whenever it's going up. Realise that in 99% of the cases, people have been wrong, though if you cry "wolf" enough, eventually you'll be right I suppose and you can herald yourself as the crypto oracle.

    As a reminder, never invest more then you can stand to lose. Nobody knows what the future holds, if you lose money, you really have nobody else to blame but yourself.

    submitted by /u/DygonZ
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    Decentralized finance is now a unicorn: more than 1 billion dollars is now deposited in defi. But WTF is defi?

    Posted: 08 Feb 2020 10:11 AM PST

    Decentralized finance is now a unicorn: more than 1 billion dollars is now deposited in defi. But WTF is defi?

    For the first time ever, the total value of all assets currently deposited in decentralized finance has reached 1 billion dollars:

    https://defipulse.com/

    But WTF is defi?

    Decentralized Finance (DeFi) is the umbrella term used to describe dozens of decentralized financial protocols that run without intermediaries on the blockchain. These protocols can be used by anyone, and include services such as lending, derivative markets, high interest-earning savings accounts, decentralized exchanges, and many more. These protocols are used by interacting with smart contracts.

    ​

    The 3 biggest defi protocols are:

    ​

    • Maker

    Maker provides the Dai stablecoin, which is a decentralized cryptocurrency stabilized against the value of the US dollar. Unlike other popular stablecoins whose value are backed directly by USD, DAI is backed by crypto collaterals that can be viewed publicly. Maker runs on the Ethereum blockchain.

    More info about Maker

    ​

    • Synthetix

    Synthetix provides a derivatives market through its "Synths".

    Synths are tokens that provide exposure to assets such as gold, Bitcoin, U.S. Dollars, TESLA, and AAPL within the Ethereum blockchain.

    More info about Synthetix

    ​

    • Compound

    Compound is an algorithmic, autonomous interest rate protocol.

    For example, Compound currently has $30,000,000 of DAI deposited that benefit from a 8.81% annual interest rate. The compound protocol runs on the Ethereum blockchain.

    More info about Compound

    ​

    1 billion dollars have been deposited, so what?

    You might think that it's just another imaginary threshold, but it also means something way more significant:

    Despite the bear market, the blockchain technology has managed to successfully grow a new major use case. A use case of a kind never seen before, that appeared at a time at which it's more than needed:

    While many countries have started to provide negative interest rates, defi can offer high interest rates.

    While more and more personal information is required by financial institutions to invest, defi leverages blockchain to allow an unlimited and anonymous access to similar if not better services.

    And this fantastic growth happened in just 2 years.

    Pay attention, because defi is booming.

    ​

    Edit: this video has just been released by Chris Blec, who provides the best videos about defi. If you're not fond of reading and want to learn about all major protocols, check his videos and give him a sub!

    submitted by /u/Ethical-trade
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    Interoperability Bridge Between Bitcoin and Ethereum launched - what does this mean for smart contracts?

    Posted: 08 Feb 2020 04:34 PM PST

    #Tronavirus

    Posted: 09 Feb 2020 02:49 AM PST

    Bitcoin: Logarithmic regression price analysis

    Posted: 08 Feb 2020 07:25 PM PST

    Bitcoin is around half it’s ATH while ETH and XRP are not even close.

    Posted: 08 Feb 2020 08:42 PM PST

    For those that bought either of those at ATH I know must be hurting and I also know that anything is possible...Do you think either will go back to their ATH any time around when BTC does or is this just evidence that it may not happen?

    If you do believe that XRP will pass $3 and ETH $1000, why do you think they are lagging?

    submitted by /u/nasneo
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    What is LOKI (LOK) - A Beginners Guide

    Posted: 08 Feb 2020 09:57 PM PST

    This Week's Top Bitcoin, Cryptocurrency, Finance & Global News

    Posted: 08 Feb 2020 11:54 PM PST

    Why DeFi's Billion-Dollar Milestone Matters

    Posted: 08 Feb 2020 05:57 PM PST

    Patent infringement case dismissed Against Ripple

    Posted: 08 Feb 2020 07:29 PM PST

    Why would any cryptocurrency be a good option for mainstream adoption with the existence of high volatility?

    Posted: 08 Feb 2020 03:52 PM PST

    I'm not trolling, would really love someone to explain this to me because it's always bugged me. This isn't just for any specific coin, as most of them will face this problem.

    How would anything other than, let's say, the top 2 or 3 cryptocurrencies ever go mainstream when people risk losing value when they buy it?

    If you knew that the US dollar fluctuated wildly and could get $10, but that it could be $2 tomorrow, then what possible incentive would anyone have to use this clearly dangerous asset?

    Pumps and dumps aside, how is society ever going to embrace crypto when it's not stable?

    And if your argument is 'it will eventually stable out', I would like to understand technically how that would work? Wouldn't people sell and buy whatever crypto 'stabled' out? There will always be volatility, right?

    submitted by /u/ExecutiveAlpaca
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    Comment Count of XMRTrader Daily Thread vs Monero Price

    Posted: 08 Feb 2020 09:55 PM PST

    Monero vs. Zcash

    Posted: 08 Feb 2020 01:02 PM PST

    I own both.

    I want to buy more and go all in in one of them as I strongly believe privacy is the future.

    Don't want to ask in Monero/Zcash Subreddit as I know the answer in both subs.

    I hope to find here an objective view.

    Any thoughts appreciated...

    Thank you.

    submitted by /u/Sapere4ude
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    Using the new API for CoinMarketCap in Excel-Portfolio

    Posted: 09 Feb 2020 03:46 AM PST

    Hi everyone

    I hope here are some people more Excel-savvy than I am. For my crypto portfolio I use an Excel sheet with API. It used to be very simple by just using an URL and that's it.

    Now, CMC has a new API access. I created an account and everything, but I am not familiar with URL-building and CMC_PRO_API_KEY-stuff.

    What I tried is this URL: https://pro-api.coinmarketcap.com/v1/cryptocurrency/quotes/latest/CMC_PRO_API_KEY=MYKEYHERE&items?id=1720/

    It returns an error 404.

    What should the API URL look like for a specific coin for Excel? I figure I'm not the only one using Excel for this. If you have simple solutions with other apps, let me know!

    Thanks for any help.

    submitted by /u/theArcticChiller
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    State Of The Project - Meros -February 2020

    Posted: 09 Feb 2020 03:26 AM PST

    [OC] I analyzed over 2 billion Reddit comments to see how the frequency of Bitcoin mentions correlates with the price of Bitcoin and to investigate if there is a predictive effect. I plotted the results visually, here's what I found... [OC]

    Posted: 09 Feb 2020 02:44 AM PST

    US Department of Transportation funding blockchain research

    Posted: 08 Feb 2020 11:29 AM PST

    Buying $10,000 USD Crypto, Looking for Lowest Fees

    Posted: 09 Feb 2020 02:20 AM PST

    I am going to continue researching and learning what I can. I know a lot of this is also personal preference.

    It seems many do NOT like Coinbase but it is excellent for an on/off ramp due to low fees for depositing and withdrawing cash. However, it seems most prefer to go elsewhere for buying/selling/trading crypto.

    It seems Binance, Gemini, and Kraken are well-respected exchanges for common coins and tokens.

    KuCoin seems fairly popular for those looking for deeper finds, hidden gems, or shitcoins.

    I know there are a few ways this can play out and I am still reviewing different fees charts.

    Will I save the most in fees if I deposit $10,000 directly into Coinbase, then buy Bitcoin/Ether there or should I transfer the USD to a different exchange first?

    It seems if I buy $10,000 in Bitcoin on Coinbase, the fees are $146.81. That is only a 1.4681% fee, which is better than I expected. People usually say Coinbase has high fees. I am confused. Or maybe the fees are when trading for different crypto, or when selling?

    I appreciate any insight you may have.

    EDIT: corrected my math error on what percent is charged.

    submitted by /u/joenorwood77
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    Rotki, the porfolio tracker that respects your privacy, v1.1.1 is out with CoinbasePRO support, brand new UI and more

    Posted: 08 Feb 2020 06:34 AM PST

    Stable coins

    Posted: 09 Feb 2020 01:27 AM PST

    Im trying to devise a strategy of cashing out on the way up over the course of this bull run. My goal is to cash out into multiple stable coins. In your guys opinion which stable coins are the best to cash out into?

    submitted by /u/Dalmo544
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    Visa Is Planning the Biggest Changes to Swipe Fees in a Decade

    Posted: 08 Feb 2020 06:41 AM PST
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