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    Cryptocurrency Daily Discussion - May 25, 2020 (GMT+0)

    May 25, 2020

    Cryptocurrency Daily Discussion - May 25, 2020 (GMT+0)

    Daily Discussion - May 25, 2020 (GMT+0)

    Posted: 24 May 2020 05:14 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 The prior exemption for karma and age requirements is no longer in effect.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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    Meanwhile, Justin does his thing!

    Posted: 24 May 2020 11:31 PM PDT

    Even Bitcoin ATMs don't charge this much conversion rate...

    Posted: 24 May 2020 05:40 AM PDT

    Hey dawgs, just found this list of top-15 coins by growth in 2020. Unibright and kusama are 99% pumped by some shit exchanges, no trust at all! Bought some cybervein and videocoin, idk what else may be a win-win. Any ideas?

    Posted: 25 May 2020 02:07 AM PDT

    A Single Bitcoin Transaction Can Power Your House for 18 Days

    Posted: 24 May 2020 05:29 PM PDT

    Trx is trash.

    Posted: 25 May 2020 03:13 AM PDT

    More than 100 addresses with unmoved bitcoin mined in 2009 just signed a message against CSW

    Posted: 25 May 2020 04:05 AM PDT

    The Central Bank of France carries out a successful digital euro trial.

    Posted: 25 May 2020 01:22 AM PDT

    The GS1 Connection - Why Origin Trail Is Already Becoming The "Google" of Supply Chains

    Posted: 24 May 2020 02:29 PM PDT

    There’s so many versions of reality in the crypto space it can be hard to keep up.

    Posted: 25 May 2020 01:54 AM PDT

    Insider Trading? OmiseGo (OMG) Surges 200% Just 15 Minutes after Coinbase Listing, but then Crashes Immediately.

    Posted: 25 May 2020 02:53 AM PDT

    RP9 Mining Full Review

    Posted: 25 May 2020 01:05 AM PDT

    Enjin's Path to 100M Users, Minecraft Partnership & Virtual Realities

    Posted: 25 May 2020 01:45 AM PDT

    What I learned from my 72 hours of HitBTC lock-down, and a couple rules to follow when looking for new exchanges

    Posted: 24 May 2020 06:49 PM PDT

    I'm a developer who's been experimenting with different exchange APIs and programming trading bots. I was told HitBTC had low trading fees, and had pretty decent API documentation. Without any research, I made a HitBTC account, or at least I reopened an old one. Apparently I had made an account with hitBTC a while back, and so I had to change my password, in order to do this I had to accept a 72 hour lock-down of withdraws from my account. I accepted, did the KYC, and moved a decent amount of money (a bit under 2000$) to a hitBTC account, things were looking good, for a couple seconds.

    This was when I got hit with this email:

    " Dear User,

    We regret to inform you that we do not provide our services to US citizens and customers whose primary country of residence is the US. This is due to the regulatory framework for digital asset trading in the US.

    Deposits to your account are not operational. Withdrawals, if applicable, are operational within next 14 business days. "

    I went to check my account, and everything was shut down. The funds I had transferred were there, but couldn't be withdrawn for 72 hours due to the password lock down.

    After a moment of panicking and reading through a series of a majority negative and aggressive critiques of HitBTC (a-la this subreddit), I felt doomed. My money's lost forever. I just gambled nearly 2000$ on this sketchy looking exchange.

    The 72 hours passed, and I checked to see if I could withdraw on time, which surprisingly went as smooth as promised in their original automated email. No money was stolen, and I wasn't scammed out of anything besides my time, but the entire situation left me with a critique of HitBTC as well as the way in which I've been treating exchanges and my $$$.

    They say hindsight is 20/20, so here is me sharing with you what I've learned before you make a similar mistake. A couple rules to follow when looking for new exchanges:

    #1: RESEARCH, RESEARCH, RESEARCH. Google the fricken exchange first, search terms like "[INSERT EXCHANGE NAME HERE] scam", ask around! If the exchange has a telegram/discord/slack, join in and find someone to help mentor you through setting up an account, most exchanges are more than willing to help walk a new user through. If the community seems toxic and full of scam bots, then that will probably be reflected in the exchange itself. Develop this skill for discerning between a solid or fraudulent exchange. Trust your instinct, but keep in mind the critiques of those who have been burned before! Err on the safe side. If I had done just the tiniest bit of research I would've avoided making a hitBTC account to start with. knowledge is power!

    #2: Test deposits/withdraws. First off, if the exchange won't let your withdraw your funds until x amount of time after making an account, it's most likely a scam. Even if it's not a scam, exchanges holding your $ over your head in defense of your personal security is questionable and may bring up inconveniences in the future. To start try loading the minimum deposit and withdraw into your account to play around with. Withdraw it to a trusted account, and only after this transaction is successful should you deposit your intended deposit to the new exchange. A quick test deposit would've saved me the last three days of wondering whether or not I'd get my money back.

    #3: Respond to others who are struggling with the same issues. That's what I'm trying to do now, I'm making a point of sharing this post so those of you who are experiencing something similar know that you'll most likely be able to withdraw your money once your account is unlocked, so take a deep breath and withdraw ASAP after the time period is lifted. If you're in a country that isn't verified with HitBTC, and you've changed your password recently, you're in the exact same boat as I was, and YOU WILL get your money back *fingers crossed*.

    All that being said, this entire ordeal SUCKED. It was mainly my fault, I put myself here, I'm not denying that, but the overall experience would've been made WAY less anxiety-ridden had HitBTC set up a better system around locking out people from un-verified countries. We can critique why HitBTC isn't open to US customers at a later time, but for now, I'd like for whatever lingering team members are around the HitBTC HQ reading this to take 5 minutes out of some front-end devs life to add in bright red font on the KYC page or in the account sign up, these countries are not eligible for verification with a list of the countries that you'll inevitably lock the accounts of.

    If you're at all concerned with the efficacy of your product and the appearance of your exchange as one worth trusting your money in, you should spend some time developing a better support response team, and a more streamlined KYC.

    Until this occurs you will always be viewed as a scam, and people experiencing preventable account lockdown and other minor user-errors will continue to post about your fraudulence, even if it may be perceived in the heat of the moment.

    I want to be clear, I got my money back, I WAS NOT SCAMMED. But that doesn't relieve HitBTC of their overall sketchiness and lackluster support team. Do yourself a favor, and if you can avoid this exchange. You'll thank yourself in the long run.

    submitted by /u/Microsoft_Bob2013
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    CZ Binance ������ on Twitter - Too Late in Crypto?

    Posted: 24 May 2020 08:28 PM PDT

    Cryptocurrency Act of 2020

    Posted: 25 May 2020 04:09 AM PDT

    Source 1 - https://news.bitcoin.com/cryptocurrency-act-of-2020/

    Source 2 - https://www.congress.gov/bill/116th-congress/house-bill/6154/text?q=%7B%22search%22%3A%5B%22crypto-currency+act%22%5D%7D&r=1&s=2

    I didn't even know that this existed until recently but upon further research, I did noticed that this topic isn't discussed very often. Within the past few years, governments worldwide have started to get more and more involved in the cryptocurrency community. I know China stated recently that they are going to release a stablecoin soon and then there's the newly released USDC which is actually audited unlike USDT. I know Russia proposed some legislation recently as well.

    I admit I'm fairly inexperience with all but I thought the entire point of cryptocurrency was that it was decentralized. Where do you guys think the world headed and how do you think it will affect the cryptocurrency community?

    submitted by /u/DungZo
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    Enjin's Path to 100M Users, Minecraft Partnership & Virtual Realities

    Posted: 25 May 2020 01:28 AM PDT

    Looking for recommendations for non-custodial wallets

    Posted: 25 May 2020 02:49 AM PDT

    I currently use Guarda but I'm looking to move to a provider with more transparency. For those of you who don't know, Guarda does not readily support exporting wallet data for use elsewhere. That being said, I'm interested in adopting another non-custodial provider of some kind to manage my currencies.

    Do you folks have any recommendations? Additionally (and on an unrelated note), is there a de facto schema for the kind of wallet portfolios Guarda creates for their users?

    submitted by /u/mjbmitch
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    Putting some completely disposable money into ~10 alts, what would you recommend?

    Posted: 24 May 2020 01:41 PM PDT

    Only have some BTC and ETH but intending on hodling them long-term, but would like to spread a bit of extra money over a few alts that I can hopefully make a bit of change from if there's another bullrun in the next year or two, for fun pretty much

    Right now just have Monero and Nano in mind. Any others you'd consider having potential to go up to similar levels to their previous highs?

    submitted by /u/LovelyTechno
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    Ledger claims hacked database for sale does not match their real database

    Posted: 24 May 2020 07:06 AM PDT

    AirSwap – Trade Tokens Without Fees

    Posted: 25 May 2020 03:34 AM PDT

    Are Social Media Platforms Good or Bad for Crypto?

    Posted: 25 May 2020 03:34 AM PDT

    Do you have a feeling that social media has a too big impact on the crypto space? Everyone is listening to 'gurus' on Twitter, Telegram, Youtube... and just few people do their own research.

    What social media platform, in your opinion, has the biggest impact on cryptocurrencies? Which one is most toxic and what are actually a good source of info?

    submitted by /u/cryptomir
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    Spending on blockchain solutions will surpass $16 billion by 2023 in 58 industries with practically limitless potential. While 500 banks going bankrupt since 2001, and printing of trillions to save the archaic economics doctrine.

    Posted: 25 May 2020 02:37 AM PDT
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