Cryptocurrency Daily Discussion - March 14, 2020 (GMT+0) |
- Daily Discussion - March 14, 2020 (GMT+0)
- BTC in developing countries.
- Not the best timing but I received my first crypto card today!
- Fantom is a decentralized project based on similar tech to HH but is better on all metrics from scaling to speed but is almost unknown in the crypto world. Surely we should embrace open source decentralized projects over corporate centralized ones or am I out of step with current thinking?
- The Fed’s backed into a corner now with low ammo. The world runs on worthless paper
- Pretty apt right now - What to Do With Your Crypto When the Market Tanks
- This Is the First Bear Stock Market Since Bitcoin Was Created, Likewise the Conditions That Led to the Creation of Bitcoin Have Returned
- To all Bitcoiners out there, ignore the noise
- The Nano beta has just passed 1000 CPS on the 1st layer
- Discussion of the Day: Golem GNT
- Utter MakerDAO failure: Man Suffers Cruel 1713 ETH ($229K) CDP Liquidation
- Bitcoin is actually pretty safe I think. Never underestimate future human greed.
- Unlimited capital world wide to fight COVD19
- S&P 500, gold and bitcoin - 2009 crash vs 2020 crash
- Some of the top ways to earn passive income from crypto in 2020 (needed now!)
- To all crypto influencers and whales telling us to hodl:
- My Ledger Nano X went through the washing machine. What desktop wallet can I use to restore using my 24 words?
- Sigh... /unzips bank account
- The reason for the recent dumps
- How do you feel about Ethereum now that Bitcoin has failed to demonstrate itself as a good store of value?
- Wasn’t crypto supposed to be an alt investment when stock market goes down?
- CEOs are out...
- Everything you need to know about Bitcoin IRA
Daily Discussion - March 14, 2020 (GMT+0) Posted: 13 Mar 2020 05:09 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:
To see prior Skeptics Discussions, click here. [link] [comments] | ||
Posted: 13 Mar 2020 12:02 PM PDT
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Not the best timing but I received my first crypto card today! Posted: 13 Mar 2020 02:58 PM PDT
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Posted: 14 Mar 2020 02:18 AM PDT
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The Fed’s backed into a corner now with low ammo. The world runs on worthless paper Posted: 13 Mar 2020 07:45 PM PDT
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Pretty apt right now - What to Do With Your Crypto When the Market Tanks Posted: 13 Mar 2020 08:12 PM PDT
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Posted: 13 Mar 2020 01:44 PM PDT
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To all Bitcoiners out there, ignore the noise Posted: 14 Mar 2020 12:38 AM PDT The no-coiners and alt-coiners come out in force on the day of a world wide economic collapse that is still on-going and will prove to be a major event for the history books. They are desperate for events they can point at to make them feel smart and have 'proof' they were right all along. Most of the days they feel terrible since these events are scarcer than Bitcoin itself. They have the peak of the bubble of 2017 and now the huge dip of 2020, the start of the big economic collapse. Ignore the noise. They either have an altcoin they need to pump 500% to recover their losses or they need that itchy feeling to go away telling them Bitcoin might come back stronger than ever to prove them wrong. Bitcoin is still on track to be the best performing bearer asset the world has ever seen. It has a predictable monetary policy with a provable scarcity. Right now 1800 BTC is created daily through the block rewards. In 4 years time, after the next two halvings, this has become 450 BTC daily. By then it has a higher stock to flow than gold and it is the world most scarce bearer asset. And on top of that it is easily divisible and transferred digitally. Yes, Bitcoin took a massive dump (altcoins even worse!) but even gold went down over 4%. You would think that the only real SoV would skyrocket in times like these, but the alt-and nocoiners of Reddit have decided that -4% is not a problem for a SoV, but Bitcoin needs to only rise in value every day. This is nonsense. Ofcourse crypto took a much bigger dump, but that is because it is still a very risk asset and those tend to be sold off first in times of crisis. Let's look at the yearly lows of Bifcoin: 2012: $4 2013: $65 2014: $200 2015: $185 2016: $365 2017: $780 2018: $3,200 2019: $3,360 2020: around $3,900 so far. Bitcoin is only 11 years old. Gold has been used for thousands of years, is widely accepted as a SoV and even gold lost 4% in value. Just wait how central banks will need to print trillions of dollars and how everyones fiat will be debased significantly. Gold as it's age as a positive property, but Bitcoins potential is much bigger. Bitcoin only needs to keep grinding block after block. You only need to stay calm and ignore the noise. [link] [comments] | ||
The Nano beta has just passed 1000 CPS on the 1st layer Posted: 13 Mar 2020 07:52 AM PDT Today, a Nano beta stress test just passed 1000 CPS on the first layer for the 1st time. All with 0 fees: Of course, a live production environment is not the same as a beta environment since the number, type, and location of nodes varies significantly, but these tests are still a good measure of progress and potential. It's also a lot harder to stress test the production network because the PoW requirements are so much higher, so the beta environment is where most of the testing occurs. Check out the progression over time here: https://forum.nano.org/t/nano-stress-tests-measuring-bps-cps-tps-in-the-real-world/436 Join us on Discord if you want to participate in beta testing :) [link] [comments] | ||
Discussion of the Day: Golem GNT Posted: 13 Mar 2020 03:11 PM PDT I know this is a rough week for most people here, but I wish to continue these daily posts. And just a reminder; everything will eventually work out. Hang in there everyone and be safe! -Today's Crypto of the Day is Golem GNT, and it's current price is $0.0304. -I try to post some information/thoughts within a few days of each post. I wait a while so I do not bias other people's posts. -Downvoting these posts only prevents others from reading about it, as it quickly becomes buried once the votes become zero. -If you are downvoting because you dislike the coin or project, it is far more helpful to post why. This helps to educate others, rather than just avoiding talking about it. Your post might help to prevent someone from making a terrible investment. If there is a project you feel is worthless or a scam, I think it is even more critical to upvote so people can read your concerns that you address within the thread. -So far, I have featured all 20 crypto from Coinbase and all 5 from Gemini. -I am currently finishing up the 26 on Coinbase Pro. -I will then finish out those remaining on Binance US and Kraken, and probably more. -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. -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... [link] [comments] | ||
Utter MakerDAO failure: Man Suffers Cruel 1713 ETH ($229K) CDP Liquidation Posted: 13 Mar 2020 01:30 PM PDT
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Bitcoin is actually pretty safe I think. Never underestimate future human greed. Posted: 13 Mar 2020 08:56 PM PDT The coin isn't going to be used for too many transactions but it's never going away either and it's a great speculation tool. Think about it, it's a whole INVESTMENT CLASS, if there was only ONE major stock in the whole stock market, and other stocks weren't that time proof and always followed this stock, and the stock crashed like Bitcoin did.... Wouldn't you buy it.? If you buy at lows like now, there's a safe bet it's going to go up to 10k or 20k someday again, You just need to be rational in your greed. Human greed outlasts human fear. We like being greedy remember. I'm going to get a new wallet..and buy dips and hold. Just set a reasonable target. Options might help you be safe while trading and give you the chance to participate in highs. [link] [comments] | ||
Unlimited capital world wide to fight COVD19 Posted: 14 Mar 2020 01:56 AM PDT That's it. I've done my personal preparation months before the officials in my country in Europe. Self quarantined while no cases in Europe, and hopefully the European Wuhan is less severe. I'm so sorry for my friends and families in USA, because they were hard to convince to prep and social isolate properly. They think the unlimited money will solve the COVD19. This virus isn't to be get fooled by fiat. The only good thing about this is, sadly ... that crypto will have in influx of capital. That is it. I'm pushing the free capital in crypto. Stay safe and strong. Wish you all brighter times! [link] [comments] | ||
S&P 500, gold and bitcoin - 2009 crash vs 2020 crash Posted: 13 Mar 2020 07:35 PM PDT
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Some of the top ways to earn passive income from crypto in 2020 (needed now!) Posted: 14 Mar 2020 04:30 AM PDT
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To all crypto influencers and whales telling us to hodl: Posted: 14 Mar 2020 04:30 AM PDT
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Posted: 13 Mar 2020 05:39 PM PDT Which desktop or mobile wallet can I use to restore my coins while I wait for my new ledger to arrive? My ledger contained some Ethereum and ERC-20 tokens so I am wondering which wallets I can use. Electrum wallet wouldn't work since that is only for bitcoin. Also, what if my ledger had contained both bitcoin and ethereum and I restored it onto an electrum wallet? Would it only restore the bitcoin and the ethereum would be lost? I could just wait for my new ledger but I want to move the coins onto Coinbase Pro in the meantime just so I know that I can access them. [link] [comments] | ||
Posted: 13 Mar 2020 09:12 AM PDT So I have been dollar cost averaging. Every single paycheck I throw money at my eth stack. 50 here, 100 there some months, I might even throw an extra 500 at it. But this dip.... it was too much bois. Too damn much. I averaged my expenditures in crypto over the last year, multiplied it by 6, and took out a fixed interest unsecured loan. I can repay it over 6 months... But no more buying crypto for me until that loan is paid off. It feels weird owning all this crypto, but not being able to buy more for so long. I managed to catch the falling knife, and bought all my btc at 4k per coin. I have so far made a profit on what I bought. Was I dumb? Did I make the wise move? I know people will say never take out loans to buy speculative assets... but to me crypto isn't just speculation. Crypto is my retirement. I plan to build up enough eth over the next 15 years to be able to have a living purely off staking rewards. I don't see eth going away, and I don't see bitcoin going away either. The halving imo is going to be huge for the btc/eth ratio (bad for eth) and POS is going to be huge in the other direction (good for eth) What are your thoughts? It will take about $500,000 to make $40,00 per year in staking rewards. I figure I will only be able to put in half of that over 15 years at my current income. So, this means that ETH would need to see at least double or triple the current prices in fifteen years to have a retirement. :/ What are your 15 year price predictions? [link] [comments] | ||
The reason for the recent dumps Posted: 13 Mar 2020 03:57 AM PDT
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Posted: 13 Mar 2020 11:03 AM PDT 2009 - Bitcoin is the choice of those rebelling against the traditional markets and central banks 2013 - Bitcoin will overtake cash as the preferred medium of exchange 2017 - Bitcoin is better positioned as a 'store of value.' It is like gold. You wouldn't expect to pay with gold right? 2020 - ...? Have people put up with Bitcoin's slowness and tech problems because they believed the notion that it was a 'safe haven'? If so, what is the sentiment on Ethereum? [link] [comments] | ||
Wasn’t crypto supposed to be an alt investment when stock market goes down? Posted: 13 Mar 2020 10:22 AM PDT I mean what happened or what went wrong bois ? did greed stepped in, and its no longer about being a currency to purchase things, like mr warren buffett said it's just a gamble in hopes someone will pay more for it than we did. MAXIMALISTS ?? i am balls deep in crypto, we ridicule those who buy the TOP and we keep dreaming that we gonna break ATH's... I MEAN WHAT THE HECK WENT WRONG guys ? discussion. thank u [link] [comments] | ||
Posted: 13 Mar 2020 03:39 PM PDT Here are some stats to consider: More than 1200 CEOs left their positions in 2019 which was a record year for exits. In January 2020, 219 CEOs left their positions (which is also a record). Lots of investors are panicking, and it has been a bloodbath with the DOW experiencing it's worst day since Black Monday. Chamath Palihapitiya, the former Facebook executive and billionaire who's fund Social Capital has delivered fantastic returns, has indicated that he believes the downside target is around that of the 2008 financial crisis (~50%). This is now the fastest bear market after an all time high in history. Looking at historical drawdowns and how many days it takes to reach the bottom of a bear market, it seems that the downside will continue. This virus is serious stuff, and it is important to have cash and liquidity at this time. One of the traditional hedging assets, gold, also plunged (apparently because hedge funds needed to cover margin calls). DISCLAIMER: NOT INVESTMENT ADVICE In the very short term, Cash is King. In the short to medium term, I would expect gold and silver to do pretty well in the 1-3 year time frame. In terms of a general approach for stocks, Dollar Cost Averaging in a Bear Market is generally the way to go - the question is "how long could we go?" Well, Chamath thinks a correction of the same level as '08 is possible - indicating that the S&P 500 could hit 1500-2000. On a more qualitative basis, when Warren Buffett starts announcing deals is also not a bad time to start buying back in! In the longer time frame (5-10 years), another asset that has had a terrible time recently is Bitcoin. Bitcoin is essentially a hedge against excessive fiat printing. The response to this situation is likely to involve a LOT of fiat printing. Therefore, perhaps it will prove undervalued in the long term (particularly as Central Bank Digital Currencies come into play). Only time will tell... [link] [comments] | ||
Everything you need to know about Bitcoin IRA Posted: 13 Mar 2020 11:59 PM PDT
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