• Breaking News

    Saturday, April 4, 2020

    Home Unlabelled Cryptocurrency Daily Discussion - April 4, 2020 (GMT+0)

    Cryptocurrency Daily Discussion - April 4, 2020 (GMT+0)

    April 04, 2020

    Cryptocurrency Daily Discussion - April 4, 2020 (GMT+0)

    Daily Discussion - April 4, 2020 (GMT+0)

    Posted: 03 Apr 2020 05:11 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 The prior exemption for karma and age requirements is no longer in effect.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
    [link] [comments]

    Breaking zip encryption to recover over $300K in bitcoins

    Posted: 03 Apr 2020 03:37 PM PDT

    After Justin Sun's takeover of the Steem blockchain he is now proposing to freeze the accounts (and probably fork them out) of thousands of people.

    Posted: 03 Apr 2020 11:43 PM PDT

    Binance donates $2 million and doubling all contribution to 2:1 in the fight against COVID

    Posted: 04 Apr 2020 01:29 AM PDT

    Binance quietly scrubs Visa mentions from its payment card website

    Posted: 03 Apr 2020 01:25 PM PDT

    Language about the Visa issuance has been removed from a blog post that Binance released on March 26. The blog originally stated: "The Binance Card is issued by Visa and accepted by more than 46 million merchants in 200 regions and territories, which makes shopping with crypto easier than ever before."

    That specific line is no longer in the blog post, although one closely matching it can be found that reads: "The Binance Card will be accepted by more than 46 million merchants offline and online in 200 regions and territories, which makes shopping with crypto easier than ever before."

    The official Binance Card website has been altered to remove a key reference to Visa: a logo on a mock-up of the card. The Block's original Binance Card report includes a screen shot that features the logo. Now, when you visit the website, the mock-up does not have a Visa logo on it. On the other hand, an affiliated website – GetBinanceCard.com – still includes the mock-up with the Visa logo.

    https://www.theblockcrypto.com/post/60886/binance-quietly-scrubs-visa-mentions-from-its-payment-card-website

    submitted by /u/BoyScout22
    [link] [comments]

    Aussie crypto exchange awarded coveted ISO 27001 certification

    Posted: 04 Apr 2020 03:12 AM PDT

    Bitcoin and the global markets

    Posted: 03 Apr 2020 08:57 AM PDT

    Crypto economy surprisingly resilient to Coronavirus crisis

    Posted: 03 Apr 2020 10:59 AM PDT

    Zombie Apocalypse Edition - I bought $1000 worth of the Top Ten Cryptos on January 1st, 2018 (March 2020 Update)

    Posted: 03 Apr 2020 08:40 AM PDT

    Zombie Apocalypse Edition - I bought $1000 worth of the Top Ten Cryptos on January 1st, 2018 (March 2020 Update)

    2018 \"Index Fund\" EXPERIMENT - Tracking Top 10 Cryptocurrencies of 2018 - Mar 2020/Month Twenty-Seven Update - Down 87%

    See the full blog post with all the tables here.

    tl;dr - take care of yourselves, your families, and your communities. Keep up the social distancing, bend the curve, wash your hands. Be careful out there. And - a truly insane month. Despite the market meltdown, crypto has under-performed the market since January 2018 by quite a bit. But if you measure from Jan 2019 or Jan 2020 it's a different story.

    Month Twenty-Seven – Down 87%

    Welcome to the special COVID/Zombie Apocalypse version of the update. An all red month, but, meh, this is cypto, we're used to it.

    Ranking and March Winners and Losers

    For such a crazy month, there wasn't much movement with this group. For the second month in a row, Cardano fell two positions and Bitcoin Cash slipped one slot. NEM was the only crypto to climb, up one position in March. Always got to take the opportunity to report something positive about NEM!

    The overall drop out rate is still at 50% mark (meaning half of the cryptos that started 2018 in the Top Ten have dropped out). NEM, Dash, IOTA, Cardano, and Stellar have been replaced by EOS, Binance Coin, Tezos, Tether, and BSV.

    March Winners – Bitcoin squeaked out a victory in March, although BTC was basically in a three way tie this month with XRP and Dash. All were down -23%.

    March Losers – In an all red month, ETH and Cardano did especially poorly, down -38% and -33% respectively.

    Below is tally of which coins have the most monthly wins and losses in the first 27 months of the 2018 Top Ten Crypto Index Fund Experiment. Most monthly wins (7): Bitcoin. Most monthly losses (5): Stellar. All cryptos have at least one monthly win and Bitcoin now stands alone as the only crypto that hasn't lost a month (although it came close in January 2020), when it gained "only" +31%).

    Overall update – BTC far ahead, ETH and LTC virtually tied for second place, IOTA and NEM virtually tied for last place.

    Although down -50% from January 2018, Bitcoin is still well ahead of the field. Ethereum and Litecoin are almost tied for second place, down -81% and -82% respectively.

    While NEM technically remains in the basement, IOTA is knocking at the door. Both are down -96%, and IOTA is now only a few cents off in total return.

    Total Market Cap for the entire cryptocurrency sector:

    The overall crypto market lost about $60B in March 2020 and is now down -68% from January 2018.

    Bitcoin dominance:

    Bitcoin dominance bounced up about +1.5% in March, something we've seen time and time again over the course of the experiment when the market bleeds. For context, the range since the beginning of the experiment in January 2018 has been quite wide: a high of 70% in September 2019 and a low of 33% in February 2018.

    Overall return on investment since January 1st, 2018:

    The 2018 Top Ten Portfolio lost about $53 bucks in March 2020. If I cashed out today, my $1000 initial investment would return about $133, down -87% from January 2018. This isn't quite the low point for the 2018 Top Ten (the portfolio was down -88% in January 2019) but pretty close.

    See, here's the ROI over the life of the experiment, month by month:

    A sea of red. The closest the 2018 Top Ten group has come to breaking even was after the very first month, when the portfolio was down "only" -20%. March 2020 is now the eighth consecutive time the portfolio has ended the month down at least -80%.

    The 2019 and 2020 Top Ten Experiments are still in positive territory, but not by much:

    Taking the three portfolios together, here's the bottom bottom bottom line:

    After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my portfolios are worth $2,267‬.

    After finally, at sweet long last, ending the first few months of 2020 in positive territory for the combined portfolios (January up +13% and February up +6%), that's down about -24% total. Thanks coronavirus.

    Alright, but it's the end of the world as we know it, everything's tanking. How does this compare to traditional markets?

    Comparison to S&P 500:

    I'm also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. March 2020 was not a great month for the S&P: it lost over -20% of its value this month and is currently at the lowest point since the experiment began in January 2018: -8% since the start of 2018. The initial $1k investment into crypto would have lost me about -$80 had it been redirected to the S&P.

    Taking the same drop-$1,000-per-year-on-January-1st approach with the S&P 500 that I've been documenting through the Top Ten Crypto Experiments would yield the following:

    • $1000 investment in S&P 500 on January 1st, 2018: -$80
    • $1000 investment in S&P 500 on January 1st, 2019: -$10
    • $1000 investment in S&P 500 on January 1st, 2020: -$230

    Taken together, here's the bottom bottom bottom line for a similar approach with the S&P:

    After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $2,680.

    That's down about -11% compared to -24% with the Top Ten Crypto Experiment Portfolios.

    That's a 13% difference. Last month the gap was only 1%.

    Implications/Observations:

    The experiment's focus of solely holding the Top Ten Cryptos has never been a winning approach when compared to the overall market. The total market cap is down -68% from January 2018 compared to the -87% for the cryptos that began 2018 in the Top Ten. This of course implies that I would have done a bit better if I'd picked different cryptos.

    At no point in this experiment has this investment strategy been successful: the initial 2018 Top Ten have under-performed each of the twenty-seven months compared to the market overall.

    There are a few examples of this approach outperforming the overall market in the parallel 2019 Top Ten Crypto Experiment, but these cases are few and far between. In contrast, each of the first three months of the 2020 Experiment show that focusing on the Top Ten beats the overall market.

    Conclusion:

    With COVID affecting the entire globe and no end in sight, the next few months will be tough. We should have a better idea whether crypto is seen as a gold-like safe haven during tough times, as some have suggested.

    Final word: take care of yourselves, your families, and your communities. Keep up the social distancing, bend the curve, wash your hands. Be careful out there.

    Thanks for reading and for supporting the experiment. I hope you've found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

    submitted by /u/Joe-M-4
    [link] [comments]

    The parent company of Factom (FCT) is now in liquidation.

    Posted: 03 Apr 2020 09:41 AM PDT

    A REMINDER: The future and potential of Bitcoin, Cryptocurrency and Blockchain Technology

    Posted: 03 Apr 2020 12:11 PM PDT

    Bitcoin and cryptocurrency solves myriad problems in traditional finance . It allows person to person transactions without a middleman. Many of these transactions have nominal fees, some have near zero fees.

    Cryptocurrency also allows anyone to become an investor , from all walks of life. In order to invest in traditional stocks there are numerous bottlenecks for everyday the man or woman . Cryptocurrency does not discriminate . It doesn't care if you are rich or poor , or what country you are from. Everyone has a chance to invest in something they believe in and to make their situation better.

    In my humble opinion , within the next 10 years cryptocurrency will be used worldwide by more than 25% of people on a daily basis for transactions , day to day or online . I believe that in Asia in particular, cryptocurrencies will catch on and be used mainstream for transactions and micro transactions before the rest of the world. In the next several years, a handful of cryptocurrencies will become the Coca-Cola and Pepsi of the ecosystem and will dominate the landscape , but bitcoin will always be #1 due to it's first-mover advantage, it's security, and it's history. It is the gold standard that all other coins will be measured in.

    Any nascent technology , that is exciting, has enormous potential , yet is widely misunderstood the market is going to be volatile. People are still determining its value . The media and huge powerful players that see the potential have a huge influence and incentive to make this market hyper volatile for a plethora of reasons. But, eventually, on a long enough timeline, I foresee, each satoshi being valued at 1 cent, which would mean 1 bitcoin is worth $1 million dollars. Whether, it is in 10 years, in 20 years, or more, I don't know, but I truly believe at some point in our lifetimes this scenario is entirely possible.

    In fact, on a long enough timeline, (20–30 years) fiat money could potentially fall by the wayside, with globalization. Think of Records>8-tracks>tapes>CDs>MP3s> now streaming . You have smart cars , smart homes , smart phones , this is smart money .

    Although paper money would not be done away with completely and would still be accepted , this would simply be a glorified "update " of our monetary system like an Apple iPhone update. With our current system how can you verify each dollar bill that is in your bank account and where it goes and if it's really there? It's just a number in your bank account due to our debt based banking system , one that can technically be erased , at any moment .

    Think about it, if stuff really hit the fan, whether it be a major financial crisis (even worse than now, like global banks failing), war (God forbid), or something else, which significantly rendered many fiat currencies worthless or at least destabilized them significantly, what would governments all over the world look to use as a replacement, whether temporary or not? Not gold, because it is an impractical means of transaction on a mass scale, is heavy, and is essentially indivisible in real time. No, they would use bitcoin, which is the de facto global currency of the twenty-first century. You can't argue that it's not, it's quite obvious at this point.

    It is interesting to look at the front cover of The Economist from 1988, 20 years later, entitled "Get Ready for a World Currency".

    We are on the brink of something truly momentous. Most of the world still does not know the power of blockchain technology, and how it can change everything. Blockchain is the next phase of the technological revolution, and as we know with technology, once a superior more efficient system, product, or service is created, the world does not take a step back. We advance. Blockchain technology is here to stay and it's not going anywhere, in fact, it is just getting started.

    This revolution will surprise everyone .

    submitted by /u/blindedzeppelin
    [link] [comments]

    Bitcoin has Seen a Major Boost Amid Dollar Crisis

    Posted: 04 Apr 2020 03:34 AM PDT

    Ren: why I invested in the decentralized custodian

    Posted: 04 Apr 2020 01:34 AM PDT

    Bitcoin Pushes Through Key Level That Spurred January Rally

    Posted: 03 Apr 2020 06:22 PM PDT

    Github Freezes Bitcoin Code in Arctic Ice | TheCryptoAssociate

    Posted: 03 Apr 2020 10:46 AM PDT

    Discussion of the Day: Tether USDT

    Posted: 03 Apr 2020 05:26 PM PDT

    -Today's Crypto/Asset of the Day is Tether USDT, and it's current price is $1.0015.

    -Initially, since my first crypto of the day post on 2/18/20, I waited to post specific information on each project until people made posts. I waited to help prevent bias. Based on feedback, I now post information early to show I am not going for low effort posts, and actually trying to facilitate qualify discussions. Please feel free to search for my other posts, to see the information I and others have added.

    -So far, I have featured all 20 crypto from Coinbase, 26 from Coinbase Pro, 5 from Bitstamp, 8 from Bitflyer, and 5 from Gemini. I now plan to finish the remaining ones on Binance US, Kraken, and others. Just because I feature a project does not mean I like it. I feel discussion on bad projects are just as important as the good ones. It is useful to hear pros and cons about every project, even if you are simply playing devils advocate.

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

    -My challenge to each of you is to learn and post about projects you do not currently hold. It is easy for anyone to shill a coin they are trying to make a profit on, or to simply downvote and troll something they do not. As a community, let's all try to encourage intellectual discussion on any and all projects out there. We can all learn a lot from each other if we try...

    submitted by /u/joenorwood77
    [link] [comments]

    It has begun: FDIC announces first bank failure of coronavirus crisis

    Posted: 03 Apr 2020 08:09 PM PDT

    It has begun: FDIC announces first bank failure of coronavirus crisis

    Posted: 03 Apr 2020 08:07 PM PDT

    We need to drop retail adoption, and seek employer adoption.

    Posted: 03 Apr 2020 06:25 PM PDT

    Bitcoin's 7 Commandments

    Posted: 03 Apr 2020 08:47 AM PDT
    Read more
    at

    No comments:

    Post a Comment