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    Cryptocurrency Daily Discussion - April 14, 2020 (GMT+0)

    April 14, 2020

    Cryptocurrency Daily Discussion - April 14, 2020 (GMT+0)

    Daily Discussion - April 14, 2020 (GMT+0)

    Posted: 13 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 The prior exemption for karma and age requirements is no longer in effect.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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    As someone who works at Walmart and can’t afford to invest a lot in crypto, I am very proud of owning my first full Ethereum!!

    Posted: 13 Apr 2020 03:52 PM PDT

    The Dow Jones industrial average, dropped 9.99% on March 12. Initially, Bitcoin followed with over 50% drop, now it's uncorrelated, taking an independent turn

    Posted: 14 Apr 2020 12:32 AM PDT

    Have no fear Bitcoin. Tether printer is here to pump

    Posted: 13 Apr 2020 12:19 PM PDT

    Bancor allows users to add liquidity to a pool in a single action with one ERC20 token that is automatically split across the pool’s reserves.

    Posted: 14 Apr 2020 12:26 AM PDT

    Looking at my alt coins wallet

    Posted: 13 Apr 2020 03:14 PM PDT

    I am in this for the decentralization!

    Posted: 14 Apr 2020 02:41 AM PDT

    Bitcoin covered on Minority Mindset

    Posted: 14 Apr 2020 04:55 AM PDT

    IQ.Cash: A Universal Blockchain Platform for Investors, Traders and Miners - MeetCrypto.net

    Posted: 14 Apr 2020 12:40 AM PDT

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

    Posted: 13 Apr 2020 07:42 AM PDT

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

    ​

    2020 \"Index Fund\" EXPERIMENT - Tracking Top 10 Cryptocurrencies of 2020 - Mar 2020/Month Three - UP +7%

    See the full blog post with all the tables here.

    tl;dr - take care of yourselves, your families, and your communities.

    tl;dr II - March was a massive down month, but the 2020 Top Ten are still up +7% on the year and have about a +30% swing over the S&P since January 2020. BSV has performed the best since the beginning of the year (up nearly +70%) EOS the worst (-10%).

    Month Three – UP 7%

    March 2020 - Up +7%

    Crypto in the time of COVID. Red across the board. Out of the three portfolios, the 2020 Top Ten is the best performing for the second month in a row.

    Ranking and March Winners and Losers

    Besides Bitcoin Cash and Tether switching places, the 2020 Top Ten were locked in place. Surprising for a month with so much going on.

    March Winners – Ah, Tether, never a good sign. BTC and XRP finish in second place both down -23% in March.

    March Losers – Ethereum, down -38%, followed closely by Tezos, down -37%.

    For those keeping score, I also keep a tally of which coins have the most monthly wins and losses. After three months, still very spread out. Tether and BSV have one loss and one win each.

    Overall update – BSV maintains strong lead, followed by Tezos. 50% in positive territory, EOS worst performing.

    No change since last month. BSV is clearly in the lead, up +69% so far in 2020. Then comes Tezos following in second place, up nearly +25% since January 1st, 2020. EOS is the worst performing of this group, down -10% on the year.

    Total Market Cap for the entire cryptocurrency sector:

    The overall crypto market lost about $60B in March 2020 and is now down -2% since the 2020 Top Ten Experiment began in January 2020.

    Bitcoin dominance:

    Bitcoin dominance (or BitDom as I like to call it) gained about +1.5% in March, something we've seen time and time again over the course of all three experiments when the overall market suffers.

    Overall return on investment since January 1st, 2020:

    The 2020 Top Ten Portfolio lost a massive $442 this month. After an initial $1000 investment, the 2020 Top Ten Portfolio is worth $1,069, up about +7%. Pretty good all things considered, but a far cry from last month's numbers.

    Here's the month by month ROI of the 2020 Top Ten Experiment, hopefully helpful to maintain perspective and provide an overview as we go along:

    Ouch. +51% to +7%, quite a drop.

    So, how does the 2020 Top Ten Experiment compare to the parallel projects?

    Taken 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.

    That's down about -24% (compared to about +5.6% last month).

    So that's the Top Ten Crypto snapshot. let's take a look at how traditional markets are doing.

    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. Stocks have been getting hammered in March, now down -23% on the year. For reference, it was down -9% a month ago.

    Over the same time period, the 2020 Top Ten Crypto Portfolio is returning about +7%, now worth about $1,070.

    The initial $1k investment I put into crypto would now be worth $770 had it been redirected to the S&P 500. That's a $300 swing.

    And same approach with the S&P 500 as I took with the first three years of the Top Ten Crypto Experiments? Here are the figures:

    • $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 crypto market as a whole is down about -2% since the beginning of the year and the 2020 Top Ten cryptos have gained +7%. Focusing on the Top Ten 2020 coins has now beaten the overall market three months in a row.

    This is hasn't happened very often since I started these experiments in January 2018. Although there are a few examples of the Top Ten strategy outperforming the overall market in the 2019 Top Ten Experiment, it's interesting to note at no point in the first twenty-seven months of the Top Ten 2018 Experiment has the approach of focusing on the Top Ten cryptos outperformed the overall market. Not even once.

    Conclusion:

    2020 has been surreal so far, with literally every life on the planet touched in someway by COVID-19. We're still a long way from emerging from this and I don't think anyone knows how our lives will be changed going forward. For crypto, this will be a good opportunity to see if it is a gold-like safe haven in troubled times, as many have suggested. We'll see.

    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 the original 2018 Top Ten Crypto Index Fund Experiment and the 2019 Top Ten Experiment follow up experiment.

    submitted by /u/Joe-M-4
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    Bitmex has been bleeding bitcoins since black Thursday

    Posted: 13 Apr 2020 05:56 PM PDT

    Halving Questions

    Posted: 14 Apr 2020 01:46 AM PDT

    Hey guys, i am new to crypto and i want to invest some money since halving is going to happen. I am thinking of buying either Ripple (XRP) or Bitcoin. So what do u guys think is better?

    Also is bitcoin halving affecting Ripple as well?

    Thanks

    submitted by /u/rafcy
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    Why Billionaire Novogratz Is Short Stocks and Credit, Long on Bitcoin

    Posted: 13 Apr 2020 07:40 PM PDT

    How Can A Wallet Be "Offline" If CryptoCurrency Only Works Because Of A Blockchain?

    Posted: 13 Apr 2020 05:51 PM PDT

    A blockchain is, by definition, an online program, right? It is a validation program, functioning on the largest vote between a massive network of computers, that are synchronously working to test and validate the legitimacy of all actions that are attempted through that blockchain.

    I understand that a wallet is not the address. A wallet is primarily a software tool that helps manage a user's private keys, and the actions and transactions performed with those keys. However, as I understand it, a private key is ultimately the only thing needed in order to access the funds within an account. I don't claim to fully understand any smaller details than that, except maybe a few, for now.

    I understand that any chance for someone to find your private key is infinitesimal, i.e. practically impossible, without breaking into something that gives the key's information away. I imagine when people say something is offline, they mean files that could expose the key with its application only exist offline. Even then though, in order for an address to be sent any currency, you need to know the public key of the address to send it to, and you need to know that your private key matches the public one.

    In order to find the public key for your private key's address, you need to get it from whatever database or network that knows which keys match any which address. Though, by requesting the info related to the private key, that means there's already been an online action using your address and key, in order for you or your wallet to even know what your account/address/key information is.

    Maybe I'm wrong somewhere in here, I've only been into anything crypto for 4-5 months. Otherwise, if I am correct in the understanding that I expressed to you above, doesn't this mean an offline wallet/cold storage tool is simply an unfeasible concept? If so, is there any significant increase in security if you refrain from using the private key of a long term storage container for an actual withdrawal/sending/outward transaction? Is it practical to create a new offline address/account or wallet for long-term-storing large quantities of cryptocurrencies, that has never and will never be used (if kept secure) until the time you wish to withdraw those funds, if you already have something like an account on a Ledger hardware wallet, even if you've been authorizing transactions with it already, and/or, also use the current account for transactions regularly?

    submitted by /u/CaddarkCrypto
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    Latest Enjin Wallet update allows users to batch send up to 100 fungible and non-fungible tokens in a single transaction

    Posted: 13 Apr 2020 08:05 AM PDT

    Bitcoin Hashrate hit 30-Days High, Bitcoin price can follow the same lead

    Posted: 14 Apr 2020 04:52 AM PDT

    Have I made a mistake?

    Posted: 14 Apr 2020 12:47 AM PDT

    For years I've been keeping an eye on the crypto market, but more specifically BTC. Owning crypto has been a goal for most of that time, but I found it an intimidating subject, and one I didn't have the balls to put my money where my mouth is.

    Fast forward to a few days ago, I said f*ck it, interest rates are down, the housing market is buggered, let's just do it. In my defense, I think the way I did this is the only way I was going to get into crypto (like a plaster, just rip it off), but I know I could have done it a lot better. I'm pretty indecisive, so I know I would have talked myself out of it if I thought about it too hard.

    I'm now wondering if I should adjust my "plan".

    I invested (including Coinbase fees) £10,000. For that I bought:

    1 BTC, 10 ETH, 30 LTC, 2 BCH, 2,000 XRP, 150 EOS, 100 LINK, 300 DAI, 150 XTC, 5,884 XLM.

    If helpful, I don't intend on trading a huge amount as I don't have the capacity to throw the necessary time at doing that successfully. I'd like to hold what I have, and I see it as an alternative investment.

    My thought process behind what I bought is that BTC, ETH and a couple of the others appeared to be safer long-term investments, whereas the lower half of the list was, "if any of these do well over the next few months or years then I could do well out of it".

    Should I just sell off the lesser known alts and concentrate on BTC/ETH etc. or is hedging my bets like this not a bad idea considering I'm in it for the long haul?

    Thanks for any advice.

    Ps. I'm using Coinbase which appears to have mixed reviews, so any thoughts there would be appreciated too.

    submitted by /u/INTERNET_D0CT0R
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    Transferring bitcoin out of a scam broker (on Sirix) - Advice needed

    Posted: 13 Apr 2020 10:06 PM PDT

    Hi, My dad was recently convinced over the phone to buy $20k worth of bitcoin with a company that I'm fairly sure is a scam. Based on online reviews, they actually do create the account and trade with it, but as soon as you ask to withdraw the money they wipe the account. Their platform is hosted on Sirix on Leverate. I've been able to log in with my dad's details and some of the money is there, but does anyone know if there's a way to force a transfer or withdrawal of the funds? When I request a withdrawal it says that 'a consultant will call you shortly to discuss your withdrawal', which based on online reviews is when they call to try talk you out of it / yell at you. I also spoke with Leverate overnight and they confirmed the account was set up, but there was no mechanism to change the password on there.

    I know my dad did a very stupid thing, and I will be mad at him later, but right now I'm just trying desperately to help my parents get some of the money back, so please just give me advice for now, and then you can add whatever insults you like once this is resolved and I will pass them on to him.

    submitted by /u/FaustianBargainHunt
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    This interview is incredibly damning of Vitalik and Ethereum. Skip to 27:30.

    Posted: 14 Apr 2020 02:24 AM PDT

    Learning Blockchain through Coding Exercises [UPDATE]

    Posted: 13 Apr 2020 11:52 AM PDT

    Hey all! Posted this thread in this subreddit 8 months ago and wanted to give an update.

    Since the time of that post, we have working hard at building the best in-browser blockchain coding curriculum we could imagine. We ran live coding classes and worked individually with students to understand what was needed. One thing we realized is that learning blockchain requires a great deal of pre-requisite knowledge. So, where do we start? Do we assume students have JavaScript/Python or some other programming experience?

    After much contemplation, we decided to assume no prior programming experience. This curriculum is a true zero-to-blockchain course! Just 100 hours of coding practice within the browser and you can go from having zero programming experience to building full decentralized applications. This includes learning programming fundamentals, data structures, building core blockchain components, interacting with blockchain networks through API calls, creating smart contracts and interacting with those contracts. We focus on core concepts so you can take this knowledge and apply it to any blockchain. Build the decentralized future!

    The name of our site is ChainShot and you can find the Curriculum here.

    IMO, in the current political climate, it seems more important than ever that we establish decentralized alternatives to our current systems. If you have the ideas to help accomplish this, now is your chance to step up and build a future we can all be excited about. I hope you'll choose our course as the place you learn. Even if you don't, I hope you find it in you to build that awesome decentralized application you have been thinking about! :)

    submitted by /u/dan-nolan
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    Binance U.S. Tezos Staking | Housing Crysis? | CashApp Stimulus Checks | Ultreexo Bitcoin Scaling

    Posted: 13 Apr 2020 10:00 PM PDT

    8 Ways to Improve your Trading Strategy During a Bear Market

    Posted: 13 Apr 2020 09:08 AM PDT
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