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

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


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

    Posted: 08 Mar 2020 05:12 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 The prior exemption for karma and age requirements is no longer in effect.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.

    To see prior Skeptics Discussions, click here.

    submitted by /u/AutoModerator
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    The EARN IT Act will make running a crypto node just as big of a headache as running a Tor exit node.

    Posted: 08 Mar 2020 08:49 PM PDT

    Trump and Bill Bar are basically striping the 230 protections so that you have to apply for them. They will set rules and decide who can get the protections.

    The 230 protections basically assign responsibility for user generated content on the poster of the content, not the hosting, website, or other entities. It provides a clear way for the internet to host free and open discussions without supposing that the any entity transmitting or housing the data is liable for the content being transmitted, hosted, or displayed by any individual or company that didn't create the content.

    Without this clarity of law, civil and criminal suits would basically kill the internet as we know it because every single entity on the internet would end up being very afraid of lawsuits for user generated content.

    In order for crypto to work it has to not care what the source of the data is or what it is for. If Trump and Barr get their way, the internet will become just as sanitized and "safe" as broadcast TV before the internet. This means that every crypto node will have to get permission from Barr (the DOJ) in order to operate on the internet. You can be sure that the rules will be such that particular transactions will have to be blocked if they demand it.

    So if you value what crypto represents, please pay attention to this bill and oppose it like it means the end of the internet as we know it.

    submitted by /u/cm18
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    Stock markets are down. Gold and the EUR currency are going up. Bitcoin going down

    Posted: 08 Mar 2020 06:26 PM PDT

    Traditional investors are moving their money into assets outside the USA. Into gold and now even into the EURO currency. To invest in the EURO means you willing accept negative interest rates, so I only do that if I really think the US Dollar is going down not because I like Europe.

    If I am worried about the US Dollar, i'm a buyer of crypto, not a seller. Unfortunately that's not been the case recently as the correlation between bitcoin and the stock market has been positive.

    At some point it will matter. Just not sure when

    EDIT: if you are interested in hourly correlation between bitcoin and S&P500 (the stock market) its basically none over the past year. It moves up and down all the time. https://imgur.com/a/W8l6Gal

    submitted by /u/abeecrombie
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    Iota Founder Confirms He Will Personally Reimburse Victims of Hack

    Posted: 08 Mar 2020 08:55 AM PDT

    It's 2020...what's the deal with crypto?

    Posted: 08 Mar 2020 01:20 PM PDT

    I "traded" crypto during the massive bullrun back in the day (winter 2017 I believe) and made some money. Since then it's now a household term, traded on major brokers, and discussed on the likes of CNBC.

    Is this still an investment to get behind, are alts the way to go, or is there a grim future ahead?

    submitted by /u/btoned
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    Former Steemit Head of Communications Andrew Levine speaks up against Tron and Justin Sun. "It's not about the money for us. Yes, we want to have a more abundant future, but not like this. Not this way."

    Posted: 08 Mar 2020 06:05 AM PDT

    U.S. Cryptocurrency Regulations Are Ramping Up in 2020

    Posted: 08 Mar 2020 06:20 PM PDT

    Morningstar Rates First Ethereum Security In $39 Million Fatburger Deal

    Posted: 08 Mar 2020 03:15 PM PDT

    How to clean the dust in your Coinbase Pro and retail accounts (a howto)

    Posted: 08 Mar 2020 09:00 PM PDT

    I've found it frustrating that the smallest lot to buy or sell on many coins for Coinbase Pro is either 1.0 or 0.1. This leaves me with lots of dust in my coinbase accounts (balance below 0.10) and hadn't settled on a easy way to clear it. Binance has a nice "sweep dust" feature, but coinbase is lacking.

    So here's how I did it. For EACH coin that you have dust in, do the following. Assuming you want to sweep it all to BTC.

    1. Determine the USD value of this coins dust using CMC calculator
    2. If it's worth than $0.10, you can probably skip to step [7]
    3. If it's less than $0.15 or so, you'll need to buy a bit more
    4. Go to the ???-BTC or ???-USDC pair and try to buy 0.000000001 worth of coin
    5. The error message will tell you the SMALLEST amount you can buy
    6. Buy the smallest amount till you have more than $0.15 worth of that coin
    7. Click "Withdraw" and withdraw that coin to the coinbase (retail) option
    8. Log into coinbase (retail) and select "Trade"
    9. Pick your coin and choose to "Convert" to BTC
    10. Expect fees to be between 2% and 4%

    After your done with all your dust, click "Deposit" on Coinbase Pro and choose "BTC - From coinbase.com". Now you've converted all your dust to BTC.

    If you live outside the US and have a Binance account, you can change things up a bit and do the following:

    1. Send all your dust balances to binance (may need to buy some to meet min withdraw size)
    2. In binance choose to convert all dust to BNB (between 0.10% and 0.50 % fee)
    3. Use FixedFloat to convert your BNB to BTC or (better) BTC-LN.

    Only dust I have left is DIA and ETH. And that's only because the balance is below 0.00000001.

    submitted by /u/brianddk
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    Oppose EARN IT Act - Email Your Representative!

    Posted: 09 Mar 2020 03:07 AM PDT

    Hey everyone,

    The EARN IT Act in the USA Congress poses an immediate and existential threat to crypto and blockchain in the USA, and indeed the world since the Five Eyes (Australia, Canada, New Zealand, the United Kingdom and the United States) are likely to enact similar legislation which effectively bans end-to-end encryption. This Act intends to give these governments backdoors into encryption so they can essentially spy on your messages and everything. Since crypto relies heavily on strong encryption, you can believe that this bill would hurt the blockchain and crypto industry in the USA.

    Privacy coin advocates should in particular be aware of this bill.

    The disgusting thing about this bill is that it pretends to be a child protection bill, but we all know that Congress doesn't give a shit about kids. They are just using that as a smokescreen to further erode personal freedoms and privacy that encryption affords normal people.

    Please take the time to write your congressman (Senators and Representative) if you live in the USA, and if not, send them an email anyway telling them that you oppose this bill.

    https://www.govtrack.us/

    You can find your senators and representatives at the above link. You can even copy and paste this pre-written message below:

    Dear Sir / Madam,

    I'm writing you to express my strong opposition to the EARN IT Act. The bill intends to protect children, but in fact it does not, it only harms privacy for normal people and businesses. I invite you to read this article where the EARN IT Act is compared to the failed TSA locks program:

    https://www.yahoo.com/lifestyle/burn-earn-act-230018150.html

    This act will severely harm technology and innovation in the USA, and only ensure that such innovation and investment go overseas.

    I strongly urge you to oppose it and vote against this act.

    Sincerely,

    submitted by /u/gfunksound
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    When are the owners of BitMex going to Jail?

    Posted: 08 Mar 2020 09:25 AM PDT

    So you heard that Bitcoin tanked to new lows just 63 days prior to the Halving and you're confused right?

    Well technically it didn't. Its just BitMex again, pulling their crap.

    https://www.newsbtc.com/2020/03/08/bitcoin-plunges-to-fresh-lows-under-8400-90-million-in-bitmex-longs-liquidated/

    So basically they wait until there are $100 million worth of longs sitting there, see dollar signs in their eyes, and then slaughter everyone for their own financial gain. And it affects the entire Bitcoin market, and the entire altcoin market adversely as a result.

    Surely there must be some rich, powerful people out there who are fed up with this bullshit and forming a lawsuit in conjunction with the SEC to have BitMex and its nonsense stopped once and for all.

    Right?

    submitted by /u/BitttBurger
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    Turns out, DeFi apps make it really easy to short sell

    Posted: 08 Mar 2020 10:03 PM PDT

    Cryptos No Refuge in Market Carnage as Bitcoin Slumps to $8,000

    Posted: 09 Mar 2020 03:58 AM PDT

    Blockchain is Perfect for Skins and Virtual Asset Ownership

    Posted: 09 Mar 2020 03:38 AM PDT

    China’s Central Bank to Inject $4.7M into Blockchain Trade Platfor

    Posted: 09 Mar 2020 03:21 AM PDT

    Cryptocurrency wallet with only one input?

    Posted: 08 Mar 2020 10:39 PM PDT

    I'm thinking of integrating a cryptocurrency wallet into my game. The catch is that I only want my program to be able to put currency in. The user would be able to take out money at any time, but only I would be able to put it in. Is this possible?

    submitted by /u/crazyminner
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    reaccumulation is happening

    Posted: 09 Mar 2020 02:11 AM PDT

    Midas Coin Emissions - The Bitcoin News

    Posted: 09 Mar 2020 01:29 AM PDT

    How do I amend my 2018 Taxes?

    Posted: 08 Mar 2020 05:06 PM PDT

    How do I amend my 2018 Taxes?

    Hi all,

    I didn't report cryptocurrency last year simply because I didn't know how. I have ALL of my crypto transactions ever made saved in the following format:

    https://preview.redd.it/jzq4uw0fgjl41.png?width=1230&format=png&auto=webp&s=05c909dedc566aad1abbaf0c144eb908662a98c9

    So I have all of the data...now how the hell do I submit it?

    Bonus: Do I need to amend my 2018 taxes before i report my 2019?

    submitted by /u/LaboratoryOne
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    USD Coin (USDC)

    Posted: 08 Mar 2020 05:20 PM PDT

    Today's Crypto of the Day is USD Coin (USDC), and it's current price is $1.00.

    This is the final of 20 projects listed on Coinbase regular (I still plan to eventually include all from other exchanges including Coinbase Pro, Binance US, Kraken, and maybe others; and Gemini is also complete with their five). I also understand this might be an odd one to feature for a day, but perhaps there are things some of us do not and should know about it. Is it expected to always be $1 exactly, no matter what? What can change to make it increase or decrease in value? I do understand there is a value in that some exchanges charge lower fees when trading with USDC vs other methods. I know this is likely a boring project to discuss, but very soon we shall be onto more fun coins and tokens to evaluate.

    I am continuing my daily posts of, "crypto of the day". Just because I feature a specific project does not mean that I even like it. My goal is to eventually help to facilitate a discussion on all projects listed on any of the main exchanges, as well as some moonshots that the community and/or I like. Some projects discussed will be straight up trash, but those are just as important to evaluate as those with promise. If you downvote a post just because you do not like a project, that will start to bury the discussion where newbies like myself might miss a post that could have protected someone from making a terrible investment. I feel we should encourage discussions on all projects, regardless if we like them or not.

    These posts are not meant to be financial advice, but instead to be an educational discussion. Everyone is responsible for doing their own research.

    For each project, I am interested in learning if you have any investment in it, and if so, about what percentage of your portfolio does it carry.

    If you have any strong opinions about how much it may be worth over the course of the next year or so, feel free to share that number for entertainment purposes. However, be ready for people to talk crap about your prediction, since no one can truly predict the future.

    Most importantly, what should we all know; good, bad, and indifferent, about this project?

    It is useful to hear pros and cons about every project, even if you are simply playing devils advocate. If all people post only positive or only negative information on any given project, that discussion is truly limited. You can even begin a post by saying something like, "First off, I love this project and over half of my portfiolio consists of it. However, if there is any concern one might have about this coin, it is probably that _____."

    I look forward to reading thoughts on this project...

    submitted by /u/joenorwood77
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    On #IWD2020 two nonprofits partnered with Gemini to raise awareness about the unbanked women of the world through cryptocurrency. Gemini is helping further the mission of Mona Foundation and Africa Development Promise providing another way to donate to their foundations.

    Posted: 08 Mar 2020 07:17 AM PDT

    This guy says that our recent drop came from a plustoken "dump" of their bitcoin.

    Posted: 08 Mar 2020 04:21 PM PDT

    How to Cash Out Bitcoin Directly into Your Bank Account | CryptoSorted

    Posted: 08 Mar 2020 03:46 PM PDT

    Comparing two or more coins

    Posted: 08 Mar 2020 07:47 AM PDT

    Is there a site or app that I can mouse over or input a date range to compare 2 or 3 different coins at the same time? Sort of like when you mouse over the time line of a single coin and it will give you the date/time and the value of that coin at that date/time. Thank you!

    submitted by /u/TheHairyScribe
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