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

    July 25, 2020

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

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

    Posted: 24 Jul 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 The prior exemption for karma and age requirements is no longer in effect.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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    Pretty much sums up the BTC journey

    Posted: 24 Jul 2020 02:46 PM PDT

    The US Federal Court has officially deemed Bitcoin to be ‘money’ under D.C. Financial Services Law

    Posted: 24 Jul 2020 06:37 PM PDT

    Kids secretly made me a birthday cake for tomorrow...I just peeked...lol

    Posted: 24 Jul 2020 08:04 PM PDT

    When In Doubt of Crypto's Future, Remember This

    Posted: 24 Jul 2020 01:24 PM PDT

    Aight, no huge loss ;)

    Posted: 24 Jul 2020 12:16 PM PDT

    Shelley Hardfork has been Initiated | ADA

    Posted: 24 Jul 2020 05:25 PM PDT

    Ether-Dice.io -- Next generation Ethereum dice

    Posted: 24 Jul 2020 04:04 PM PDT

    Ron Paul: “The FED is counterfeiting trillions of dollars”

    Posted: 24 Jul 2020 09:02 AM PDT

    Bluzelle partners with HedgeTrade, a leading Social Trading Platform to provide Decentralized framework for Financial Data.

    Posted: 25 Jul 2020 02:28 AM PDT

    Yet another reason to hedge your bets on crypto. You don't think a financial ruin will happen until it happens.

    Posted: 24 Jul 2020 08:56 PM PDT

    Market Wrap: Bitcoin Near $9,600 as Gold Hits High, Uniswap Liquidity Over $100m

    Posted: 24 Jul 2020 07:55 PM PDT

    How do i get into smaller crypto thats not on coinbase?

    Posted: 25 Jul 2020 12:31 AM PDT

    Im not super technical computer wise, and coinbase has made investing prety easy but their fees are a bit much for someone investing small amounts like 20 to $100 at a time (not unbearable). Is there anything like that that would let me invest in lesser known crypto easily?

    submitted by /u/Papashrug
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    To the people who think tribalism and complexity is holding crypto back

    Posted: 24 Jul 2020 01:31 PM PDT

    First I'll address the arguement that toxic tribalism is stopping crypto from going mainstream.

    Ask an android user what they think of apple

    Ask a Playstation user what they think of Xbox

    Ask a PC gamer what they think of consoles

    Ask a Linux user what they think of windows

    Ask a Reddit user what they think of Facebook

    Ask a "the last of us" fan what they of "the last of us two"

    This list literally goes on for an eternity.

    The problem has nothing to do with crypto, it's just people in general feel the need to defend their choices. There's no need to worry about it holding us back from any progress in the future.

    Second I'll address the arguement that crypto is too complicated for mainstream.

    Crypto addresses look complex the first time you see one. But remember this is 1 string of letters and numbers you need to copy and paste.

    Bank cards have:

    An account number

    A sort code

    A card number

    Expiry dates

    Security code

    And recently a online passcode to authenticate the purchase.

    The only reason you no longer see traditional banking as complicated, is because you have used it so many times it no longer confuses you.

    If you've ever used a decentralised app with metamask. You'll know what I mean when I say, it's so much easier to use than having to log in to a centralised service. You can make a trade on uniswap within 10 seconds of opening your laptop.

    Conclusion

    There isn't one, just stop being negative.

    submitted by /u/Oxygenjacket
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    An exploration of Neo's efforts inside the world of academia

    Posted: 24 Jul 2020 11:29 PM PDT

    Social Defence Force Token

    Posted: 25 Jul 2020 12:59 AM PDT

    A decentralized, p2p community security Dapp where users can set a beacon (a description and a location ) when an incident occurs. Responders are notified of the incident and they can gain reputation for responding to that incident. Reputation determines a users rank in the network. Ranks determine what perks and privileges a user has on the SDFT network.

    Our smart contracts are on github

    https://github.com/andychri123/Social-Defence-Force

    Interact with the smart contracts with the Dapp at

    sdft.io

    The Crowdsale Contract is funded with 950,000 SDF Tokens.

    0xDd149e63A1088F06Cda0487ad44a1cbE7873D262

    https://etherscan.io/address/0xDd1...d44a1cbE7873D262

    1 SDF Token = 0.01 Ethereum

    More updates to the user interface and the smart contracts will be coming soon

    sdft.contact@protonmail.com

    submitted by /u/MerlDay
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    Is Coinbase a reliable place to buy Crypto for beginners?

    Posted: 24 Jul 2020 01:15 PM PDT

    So for some background, I'm going to be a senior in college so I've started to give my future financial situation much more thought. Up until now any money I got from jobs/gifts/whatever would either go into a saving account or towards buying precious metals. With Corona my expenses are down cause I don't do much which also means I have more free time. As such I've started looking into different ways to invest my money to diversify and help myself in the future. I've started to invest in various stocks now but I would really like to start buying some Crypto's.

    So my question is basically as someone that wants to start purchasing Crypto is Coinbase a good platform to start on? Or would it be better for me to find and purchase a wallet usb stick?

    Based on what I've read and looked up the USB wallet seems more secure but is it really worth it for someone just starting?

    submitted by /u/ThePolakKid
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    U.S. Health Department Chief Discloses Functioning Blockchain Project To Track Covid-19

    Posted: 24 Jul 2020 06:49 PM PDT

    SWTH and its competitors!

    Posted: 24 Jul 2020 07:00 PM PDT

    Please help me understand why hardware wallets are a good idea. I just don't see it

    Posted: 24 Jul 2020 02:31 PM PDT

    This is a question made in good faith. I'm kind of new into crypto, more or less a year old in this. And I see many experts talking about how hardware wallets are a must for seasoned people. I have two big concerns about them. Please correct me if I'm wrong:

    • First, having your crypto in a physical container seems such a bad idea to me, for many reasons, similar to why having a million in cash at home is a very bad idea. Ok, first there are two dangers to that that don't apply to crypto: that money always looses value with time, and the possibility of being stolen. A small USB can be hidden way better than a million in cash. But your house can be burnt, flooded, the pendrive lost, broken. There are so many ways to permanently loose such a small thing, and therefore all your crypto, that it just doesn't make sense to me. Yes, many online exchanges/websites/companies have disappeared/closed with all the coins of their users in these last ten years, but I think that won't happen with the big ones (Coinbase, Binance, etc) almost for sure. And once banks and PayPal allows you to store your coins with them, that would be as close to certainty as it can be.

    • Second, and this goes for property hardware wallets like ledger. You need online servers and an app to access your coins. Things that can be discontinued or just stop working if the company decides so or closes. We have seen how gadgets stopped working one day when the company is bought or just stop existing. We have seen how electronic devices turned into a brick because a bad firmware update. It has happened to many things some from huge manufacturers. It can happen to a hardware wallet.

    So which are the advantages of storing our crypto in a hardware device nowadays?

    TL;DR: I think hardware wallets are more insecure than mainstream online wallets. As many experts recommend them, can someone please point to me what I'm missing?

    Edit 1: Thanks for all the responses! Ok, in the hardware wallet are your keys (passphrase), not the actual coins. But all of what I said still applies, because if you loose your keys, you loose access to your coins, right? I know I'm still missing important information. I'm here to learn!

    Edit2: I understand the empowerment reason. That as long as you trust your keys to Coinbase/PayPal/Banks you are not really in control of your money. Ok, totally agree. But why don't have your keys in an encrypted file triplicated in different parts of the cloud instead of in a single hardware device? Of course files in the cloud can be hacked, but if you do it right, I think the chances are less than your pendrive lost or burnt.

    Edit3: Thanks for all the explanations! Now I understand the utility of a hardware wallet, and that as long as I have the passphrase secure, I won't loose my coins even if I loose the wallet. And I can even trade from it!

    submitted by /u/TheriamNorec
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    Price speculation on the eve of the Shelley launch

    Posted: 24 Jul 2020 10:13 PM PDT

    Sick of my shit job. Going to try Crypto trading

    Posted: 25 Jul 2020 03:35 AM PDT

    I sit at a Dunkin Donuts pushing buttons on a screen bored out of my mind all day long. My only contribution to society there is making people pre-diabetic and I'm sick of it.

    "Hi, that'll be $19.79" just isn't a job for me. It was okay to get a little bit of money saved up but holy f'in shit talk about a dead end job. It's full of potato brains running around there treating it like it's the peak of their life making $13/hr and honestly that scares the everliving shit out of me.

    I'm 20, I don't plan on going to college(yet at least, if ever) but I do pride myself on the drive I have to constantly grow and be a better person. I have a bit to invest, and no real bills to pay. My friend recently just made like $5000 off Bitcoin over the course of 3 months and that's when I realized I could be making the same exact money for a fraction of the time.

    I've spent the past hour reading this subreddit and have learned a whole lot more than I knew before.

    Any and all advice is appreciated.

    submitted by /u/eman2313
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    Coinbase CEO reflects on Neutrino acquisition: 'We messed up'

    Posted: 24 Jul 2020 11:26 AM PDT

    Greatest Chess Player of All Time Backs Bitcoin

    Posted: 24 Jul 2020 06:04 AM PDT
    Read more
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