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    Cryptocurrency Daily Discussion - May 16, 2020 (GMT+0)

    May 16, 2020

    Cryptocurrency Daily Discussion - May 16, 2020 (GMT+0)

    Daily Discussion - May 16, 2020 (GMT+0)

    Posted: 15 May 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 The prior exemption for karma and age requirements is no longer in effect.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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    Elon Musk discusses Bitcoin with J.K. Rowling

    Posted: 15 May 2020 05:30 PM PDT

    CoinMarketCap removes evidence of wash trading on Binance

    Posted: 15 May 2020 09:06 PM PDT

    J.K. Rowling on bitcoin.

    Posted: 15 May 2020 10:30 PM PDT

    The absolute peak of Crypto Twitter...

    Posted: 16 May 2020 12:52 AM PDT

    TBTC is now live on ethereum mainnet. You can move bitcoin in and out of ethereum in a decentralised and trustless way.

    Posted: 15 May 2020 01:02 PM PDT

    Will I be able to buy a lambo with this one day?

    Posted: 15 May 2020 11:35 PM PDT

    It boils my blood to see people running such henious scams to rob people of their money. The sad part is the comments are disabled and 32K people are potential victims. People who have actually worked hard are being robbed in broad daylight

    Posted: 15 May 2020 11:50 PM PDT

    Non fungible tokens: the next frontier for cryptocurrency and blockchain

    Posted: 15 May 2020 06:52 PM PDT

    No, CoinMarketCap did not "remove evidence of wash trading on Binance": they removed an utterly skewed metric for every exchange. The new CMC ranking is a clear and factual improvement over the previous one.

    Posted: 16 May 2020 02:47 AM PDT

    Regarding this clickbait thread: CoinMarketCap removes evidence of wash trading on Binance.

    I know this isn't gonna go in the herd "bash Binance" mentality around here, so I'll prepare myself for the sheep downvotes.

    For the record, I'm a bot trader and have been actively developing bots on Binance, Upbit, Bittrex, Bitmex, Huobi, FTX for almost 3 years. Binance remains my go-to among all those for a lot of reasons. Whether I'm partial to them I'll leave to you, but I like to think the below points are fair.

    Here we go:

    • CoinMarketCap did not "remove evidence of wash trading on Binance": CoinMarketCap removed an "Adjusted volume" metric that would reduce the actual volume of an exchange based on CMC's analysis of wash trading on that exchange. It was an ultimately skewed metric, as anyone could see from the bullshit ranking prior to Binance's acquisition.
    • After the acquisition, they then tried to replace the metric with another one: an analysis of web traffic on each exchange, to try and make sure exchanges at the top are actually used (and not just bots wash trading forever). There's no guarantee this will be the best metric, and CoinGecko's Trust score might prove to be better, but it is a clear improvement over the previous adjusted volume.
    • Yes, this change in metric does put Binance at the top of the ranking. But so does CoinGecko's ranking. No matter how shady you think Binance is, its top spot in both rankings isn't undeserved.
    • Yes, acquisitions between powerful players do raise concerns of centralization and abuse of power, but so far there is no clear evidence for it.

    Now, to anyone reading this: are you actually going to try to argue that this looks worse than that? In your neverending hatred and bashing for Binance, you would want newcomers to put their money on BKEX, LBank or CoinsBit instead of Binance, Coinbase or Kraken?

    Edit: And I actually forgot the worst of all: the only reason Binance's adjusted volume was less than its actual volume is because its derivatives volume wasn't counted.

    Proof at the bottom of the exchanges page in February:

    \ Adjusted Volume - Volume from* spot markets excluding markets with no fees and transaction mining

    submitted by /u/EuW_MadWard
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    Anyone else using BlockFi?

    Posted: 15 May 2020 08:21 PM PDT

    I've been storing a lot of my crypto in Blockfi and so far it's been great. The mobile web is garbage but they just rolled out an app, which is meh.

    You can earn 8.6% on USDC which is pretty crazy so I've been storing all my free cash in high interest savings accounts there.

    If anyone was curious it seems quite safe. It's managed by gemini custody and had 2FA.

    It's been 4 months and my interest always comes in each month without any drama.

    submitted by /u/ToxicBTCMaximalist
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    Reddit distributing free Moons to users, which they can spend back to reddit, thus creating a self sustaining economy

    Posted: 15 May 2020 11:05 AM PDT

    Post-Halving Reality: 17% Of Miner Revenue is Coming From Fees

    Posted: 16 May 2020 03:13 AM PDT

    Visa likely to launch digital currency with Ethereum blockchain

    Posted: 15 May 2020 09:23 AM PDT

    WTF is ��ETH.BUILD

    Posted: 16 May 2020 04:09 AM PDT

    Reddit drama - /r/Bitcoin mod a little bit salty that Reddit chose the Ethereum blockchain to issue points

    Posted: 15 May 2020 09:04 AM PDT

    BTC OG Davinci Jeremie selling his house to buy more bitcoins? Not sure what to think of this lol

    Posted: 15 May 2020 01:19 PM PDT

    Visa patent for digital dollar show it's built on Ethereum

    Posted: 15 May 2020 12:29 PM PDT

    Charles Hoskinson Explains Bitcoin to J.K Rowling

    Posted: 15 May 2020 09:44 PM PDT

    While Elon Musk Thinks Bitcoin Looks “Solid,” He Only Owns $2k Worth of BTC

    Posted: 16 May 2020 12:41 AM PDT

    Coinbase Sees DEXs as the future, calls it upcoming 'DEX revolution'

    Posted: 15 May 2020 01:18 PM PDT

    You know retail investors are coming back when JK Rowling tweets about Bitcoin

    Posted: 16 May 2020 02:42 AM PDT

    Proposal to audit Monero for post-quantum security and privacy

    Posted: 15 May 2020 01:39 PM PDT

    Why has Reddit not addressed the mass censorship coming from r Bitcoin while the currencys supposed to be about censorship resistance

    Posted: 15 May 2020 01:06 PM PDT

    Whys the currency thats supposed to be about censorship resistance just not allowing any discussion out of their allowed discussions. Why are alt clients not allowed and only the 1 reference implementation but they all like talking about decentralization. Are any of these people actually part of the people like me that got in Bitcoin by actually mining their coins on their CPU.

    What the fuck happened Bitcoin

    submitted by /u/NOTPR0
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    Any good multi wallets?

    Posted: 16 May 2020 02:24 AM PDT

    I haven't paid attention since 2017 but I'm coming back. At that time, there weren't really any good and developed wallets that hold multiple currencies on your local.

    Has that changed? Are there any lightweight clients that can handle at least BTC, LTC, and ETH?

    Thanks

    submitted by /u/AltoidNerd
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