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    Cryptocurrency Daily Discussion - July 6, 2020 (GMT+0)

    July 06, 2020

    Cryptocurrency Daily Discussion - July 6, 2020 (GMT+0)

    Daily Discussion - July 6, 2020 (GMT+0)

    Posted: 05 Jul 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 The prior exemption for karma and age requirements is no longer in effect.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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    Crypto subreddits in a nutshell

    Posted: 05 Jul 2020 05:25 AM PDT

    This MakerDAO proposal to add BNT as MKR collateral will lock BNT in Maker vaults to generate DAI, giving BNT additional utility while taking supply out of circulation

    Posted: 06 Jul 2020 01:54 AM PDT

    Is ADA hype for real?

    Posted: 05 Jul 2020 07:02 PM PDT

    I've been constantly seeing YouTube videos talking about ADA and "you better get in before the bull run". I know that they successfully upgraded to Shelly and that they're moving over to PoS, but I can't tell if it's all noise from shills for a quick pump.

    submitted by /u/CrunchitizeMeCaptn
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    Travala.com Lets Travelers Once Again Book Expedia Hotels in Crypto

    Posted: 05 Jul 2020 07:31 PM PDT

    Ethereum: Dreaming of Spring

    Posted: 05 Jul 2020 10:44 PM PDT

    Singapore’s Blockchain Landscape Has Grown More than 50% Since Last Year

    Posted: 06 Jul 2020 12:09 AM PDT

    The Afghanistan Government is using Fantom's blockchain tech in a pilot program to fight counterfeit medicine

    Posted: 06 Jul 2020 03:17 AM PDT

    Kyber - The DeFi Standard.

    Posted: 06 Jul 2020 01:05 AM PDT

    Would you sell your Bitcoin for $1,200 less at Bitcoin ATM?

    Posted: 05 Jul 2020 08:08 PM PDT

    UNICEF is promoting blockchain and cryptocurrencies to benefit developing nations

    Posted: 05 Jul 2020 09:41 AM PDT

    Latest Week in Ethereum News

    Posted: 05 Jul 2020 04:27 PM PDT

    Implementing Proof of Lurk

    Posted: 05 Jul 2020 04:00 PM PDT

    Implementing Proof of Lurk

    This post goes through some of the possibilities of implementing an actual "Proof of Lurk-algorithm" for the upcoming Moon-distributions, so that also lurkers could get their share of the monthly prize.

    It sure doesn't...at least yet.

    Why reward lurkers?

    Every community has two types of people: the ones that contribute things, and the ones that enjoy these things. Very often, or almost always these two groups also mix up, many people being both. Also, both of these groups are needed for the community: as an example, if everybody was streaming their gaming, nobody would have time to watch streams at all, and also if nobody was streaming, nobody could watch gaming streams.

    Interaction between the two groups of people comes from the fact that, in the case of Reddit, lurkers incentivize people to post and comment, because lurkers can give upvotes to comments and posts. This in turn rewards contributing members with Moons, based on the upvotes given. The key point here is that there are way more lurkers than active contributors, which means that the potential for a post to gain upvotes and traction is much bigger than what can be seen based on the amount of new posts. Especially with moons gaining surprising amounts of monetary value, it would be only fair for lurkers to receive their part.

    ​

    How to implement Proof of Lurk?

    There are tons of ways to do this, but only a few to do this properly. We need to stay out of easy pitfalls in order to make the system sustainable:

    - The implementation cannot be a simple "click this button on the sidebar daily to receive moons at the end of the month"-type of thing, since this can be abused way too easily without actually being active. Same goes for this type of "I visited this post"-button in each post of the subreddit, since simple botting etc. can break this system.

    - We must not reward people for giving up-/downvotes to posts and comments, because that would break the system the other way around, and lurkers would vote any post because it would reward them in the end. This would make votes meaningless and make it so that contributors wouldn't be fairly rewarded for actual good posts.

    - The system cannot be based on just time spent on the website, since idling immediately becomes a thing without lurkers doing what they usually do.

    Because of these, a measure of activity, or even more importantly, attention, is needed.

    ​

    How to measure attention?

    There happens to be a crypto-related browser we all know, that measures attention to reward its users. Attention in the case of lurkers could for example be that they are scrolling the subreddit at least every, let's say 5 seconds, and sometimes give up-/downvotes to posts and comments, write text etc. By measuring active time - that is, the time spent on the website and doing something active - is the way to measure lurkers doing what they should do.

    Personally, I don't know exactly how much data is given by Reddit to public domain, so that we could know how long people have spent on the website being active, but assuming we could know that a user has been on the website a certain amount of time, and has fulfilled some activity conditions for a part of this time, at the end of the month these pieces of active time would be summed up, and the lurkers part of moons would be shared based on amounts of active time. This might require an implementation of some basic web tracker/program that makes sure people are active, and this is not an easy task to do. However, lurking is an important part of Reddit (and many other communities), and it should be rewarded. An example distribution could be, of the given moons for a month, that the share for comments/posts/lurking would be 50, 30 and 20 percent, respectively.

    submitted by /u/Randomplayeri
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    TLDR: How did the cryptocurrency market cap get along in Q2 2020? (Infographic)

    Posted: 05 Jul 2020 06:15 PM PDT

    We know. Bezos is rich. Can we stop this spam in the sub now?

    Posted: 05 Jul 2020 06:28 AM PDT

    Expedia Partners With Crypto Service Travala.com for Crypto Bookings

    Posted: 05 Jul 2020 09:25 PM PDT

    Gemini Chose to Wade Regulation In New York, Weighs in on Conditional BitLicense

    Posted: 05 Jul 2020 10:20 PM PDT

    Bank runs in China spur checks on big cash transactions - Decrypt

    Posted: 06 Jul 2020 03:08 AM PDT

    Crypto Trends 6 July 2020 ��‍ Month of Prediction Markets - Augur V2 & Omen.eth �� NFTs approaching $100 million sold �� MetaMask version 8

    Posted: 06 Jul 2020 03:07 AM PDT

    Do not put your crypto addresses into clipboard

    Posted: 06 Jul 2020 02:54 AM PDT

    Discussion of the Day: Factom FCT

    Posted: 05 Jul 2020 02:00 PM PDT

    -Today's Crypto of the Day is Factom FCT, and it's current price is $1.4113.

    DUE TO SOME PERSONAL ISSUES, I AM TEMPORARILY BEHIND ON FOLLOW UP POSTS. I WILL EVENTUALLY CATCH UP AND POST MY OPINIONS ON ALL OF THEM. I AM NOT TRYING TO MAKE LOW EFFORT POSTS AND WILL DO MY BEST TO POST A NEW DISCUSSION DAILY FOR A WHILE. THANK YOU FOR YOUR UNDERSTANDING. I AM FINALLY STARTING TO FOLLOW UP ON SOME RECENT POSTS.

    -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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    Why Payment Giants Can No Longer Ignore Crypto – NullFUD

    Posted: 05 Jul 2020 01:52 PM PDT

    Which of these low cap coin/project you think is a potential coin / scam?

    Posted: 06 Jul 2020 01:36 AM PDT

    I've skipped the top 50 coins/project and focused on growing low cap projects. If you're familiar with them, let's poll.

    These projects are getting advanced & upgrading day by day.

    I was just curious to know what the community think about it. Even if you don't vote, you can comment below your support/views on these projects.

    And also if you think any of the project is scam then also warn the community about it & also give your opinion why you think it might be a scam project.

    View Poll

    submitted by /u/arijitdas
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