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    Cryptocurrency Daily Discussion - April 11, 2020 (GMT+0)

    April 11, 2020

    Cryptocurrency Daily Discussion - April 11, 2020 (GMT+0)

    Daily Discussion - April 11, 2020 (GMT+0)

    Posted: 10 Apr 2020 05:10 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 The prior exemption for karma and age requirements is no longer in effect.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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    Embracing Bitcoin Revolution Is Mandatory to Protect Yourself Against Fed Printing Money Frantically

    Posted: 10 Apr 2020 03:30 PM PDT

    Craig Wright Accused of Plagiarizing Law Degree Dissertation

    Posted: 10 Apr 2020 11:27 AM PDT

    Crypto/Fiat Visa Debit card saw someone post in Ozbargain offering many benefits: 20% Cashback Coles/Myer, 10% Woolies/Maccas/Costco etc on Top of Other Discounts + Other Benefits @ Crytpo.com MCO Visa

    Posted: 10 Apr 2020 10:43 PM PDT

    Reddit May Use Ethereum for a New Token-Based Points System

    Posted: 11 Apr 2020 01:59 AM PDT

    HODLERS be like....

    Posted: 10 Apr 2020 12:12 PM PDT

    After a month-long countdown to an empty website, followed by 2 years of nothingness, IOTA Foundation abandons "Qubic" in favor of something "more promising".

    Posted: 10 Apr 2020 01:00 PM PDT

    Bitcoin Cash 51% Attack Cost Is Crazy Cheap Right Now

    Posted: 10 Apr 2020 08:19 AM PDT

    HTC to allow mining monero directly via its EXODUS blockchain phone

    Posted: 10 Apr 2020 10:36 AM PDT

    Reddit explains how its Ethereum-based Points system will work

    Posted: 10 Apr 2020 09:05 AM PDT

    Discussion of the Day: Synthetix Network Token (SNX)

    Posted: 10 Apr 2020 03:34 PM PDT

    -Today's Crypto of the Day is Synthetix Network Token (SNX), and it's current price is $0.6734.

    -Since 2/18/20, I have posted a crypto/asset of the day for discussion. I typically begin by posting the current price, as well as the brief CoinMarketCap summary. If there is a video featuring it on Coin Bureau, I also post that. After a week or so, I usually post replies to some of the posts, and I also add an overall summary of my thoughts, if I plan to hold any, and is so how much.

    -I strongly encourage everyone to follow up on past discussions and you can still make comments on them. There is a lot of valuable information on many of these posts, so please check them out as you have time. You may learn a lot regarding some of these projects. I know I certainly did! https://www.reddit.com/r/CryptoCurrency/search?q=author%3Ajoenorwood77&restrict_sr=on

    -My first month or so I featured projects listed on some of the main exchanges. Now I plan to focus on the top 100 on CoinMarketCap. After that I expect to broaden to the top 200, and then some random moonshots. I will eventually create a post looking for any projects I should feature before I eventually close this project.

    -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.

    -I would say a perfect reply would include at least one pro and at least one con for the project. However, I still feel it is acceptable if you post only pros or cons. If your post does not have any substance to it, "this coin is a scam", "avoid this shitcoin", "this coin will moon to $1000 by the end of 2020", then I will just assume you are posting for personal gain rather than helping the community. If you simply downvote the post without any comments, the only thing you accomplish is having less people view the post. I do not care about Reddit Karma, but if a post drops to zero early on, it can be extremely difficult for people to even find these discussions (which I assume is your intention).

    -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?

    submitted by /u/joenorwood77
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    Nassim Taleb Advised Universa Investments (Tail Risk Hedge Fund)

    Posted: 11 Apr 2020 12:17 AM PDT

    A tail-risk hedge fund advised by Nassim Taleb, author of "The Black Swan," returned 3,612% in March, paying off massively for clients who invested in it as protection against a plunge in stock prices.

    The fund, Universa Investments, was founded in 2007 by Mark Spitznagel, who is also runs the fund as the Chief Investment Officer.

    Nassim Taleb is Universa's Distinguished Scientific Advisor.

    From 1999 to 2004, Spitznagel and Taleb ran Empirica, a hedge fund which applied very similar tail hedging strategies to Universa.

    Universa made huge gains in 2008 - as the S&P 500 dropped 38.5% by the end of 2008, the fund increased its investors's money tenfold.

    Of course, even when a recession hits, Universa's investors won't starve - they have enough money to invest more than $50 million, which is Universa's minimum investment, and this will be a relatively small part of their overall portfolio.

    Universa essentially offers a "black swan protection protocol", telling clients to think of the fund as catastrophe insurance that allows them to pursue returns more aggressively, without the need for more traditional approaches to risk mitigation.

    Mark Spitznagel, who runs the fund, is known for the phrase:

    "I spend all my time thinking about looming disaster"

    In fact, a Forbes profile from 2011 claims that on roughly 95 trades out of 100 they lose money, yet Spitznagel is unruffled as he sits in his office listening to classical music and losing money each day.

    To simplify, here's the essence of how it works:

    Universa purchased far out-of-the-money "put" options on stocks and broad market indices.

    A put option gives the owner the right, but not the obligation, to sell an underlying asset at a set price within a specified time period. It's a bet that a stock or market is going down.

    As it is ultimately a bet, it is a very attractive market for degenerate gamblers!

    If the market price falls below the agreed-upon price, you make money.

    Universa makes a lot of small bets and watches most of them go bad (hence the 95 out of 100 trades they lose money line).

    However, when one hits, it hits big...

    For example, back in September 2008, when the S&P 500 was trading around 1200, Universa bought S&P 500 Index put options with a strike price of 850, due to expire late October.

    They were betting an "unlikely" drop would occur.

    They paid around 90 cents for those options. By October 10th, the S&P had dropped 300 points in a month. The options Universa purchased for 90 cents were now trading for $60 each. Universa cashed out of its position around $50, good for a gain of 5455%.

    Now, as a reminder, this is a hedge - investors will have a relatively minimal percentage of their portfolio in Universa.

    Essentially, the fund is designed to make an absolute killing if the market crashes and therefore ensures that their investors have insurance if the market suddenly nosedives.

    Speaking of diving, let's take a dive into the Investor Letter:

    In what has been a terrible period for many investors, this is what Universa investors were greeted with on the first page:

    Based on your required invested capital at the start of the year, in March 2020 you experienced a 3,612% net return on capital; year-to-date you have experienced a 4,144% net return on capital.

    Spitznagel then flexes The Risk Mitigation Scorecard, which showed that a portfolio invested 96.7% in the S&P 500 and just 3.3% in Universa's Tail Hedge fund, would have had a positive return in March, a month when the S&P dropped 12.4%.

    The same portfolio - which eliminates the adverse effect on compounding from downside shocks - would have produced a 11.5% CAGR since inception in March 2008 versus 7.9% for the S&P 500.

    (CAGR just means Compound Annual Growth Rate)

    I mentioned eliminating the adverse effect of compounding from downside shocks, well this is crucial and he makes a great point here:

    Due to the mathematics of compounding, the big losses are essentially ALL that matter to your rate of compounding, not the small losses - and not even the big or small gains.

    This goes back to Warren Buffett's wise words:

    "Rule number one: Never lose money

    Rule number two: Never forget rule number one"

    https://www.youtube.com/watch?v=eoWI76Pu9JI

    submitted by /u/financeoptimum
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    Money Is Undergoing a Global Reset - CoinDesk

    Posted: 10 Apr 2020 11:12 AM PDT

    Binance CEO recommends to download Brave browser for your own privacy

    Posted: 10 Apr 2020 10:06 AM PDT

    What is Ontology Coin (ONT Crypto)? - Exodus Wallet

    Posted: 10 Apr 2020 04:50 PM PDT

    How is this theory/effect called?

    Posted: 10 Apr 2020 02:18 PM PDT

    It goes something like this.

    Say you are an expert in a certain area and you open up a newspaper and start reading an article which relates to your expertise. You see that the article is basically crap full of wrong theories and assumptions. The you flip the page to next article about something you know nothing about and you believe everything that is written.

    It basically means that people believe everything that is written if they no nothing about that subject even though they had evidence several minutes ago that the journalists are not experts in subjects they write about.

    There is a name for this theory or effect and I can't seem to find it. But I'm sure I read it somewhere in this sub

    submitted by /u/Ferdo306
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    Biggest 1-day losses in over 3 years, high correlations with other markets, and major exchange shutdowns at key moments: data in new market report show how crazy the last month has been for crypto

    Posted: 10 Apr 2020 06:34 AM PDT

    Global Regulatory Reform: We're About to See Crypto Enter a New Regulatory Era

    Posted: 10 Apr 2020 12:16 PM PDT

    The Typescript blockchain project ARK has new features and abilities in the recent Core release v2.6 developers can utilize when quickly deploying standalone interoperable blockchains

    Posted: 10 Apr 2020 06:09 AM PDT
    Read more
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