Cryptocurrency New Moons Distribution (Round 2 Proposal)

New Moons Distribution (Round 2 Proposal)
Daily Discussion - July 9, 2020 (GMT+0)
Australian comedian Jim Jefferies bought one bitcoin for $10,000 just for fun.
IOTA 2.0: Pollen Testnet Records Peak Performance of 1500 TPS, 20x Improvement in Message Confirmation Time
YouTube literally allowing crypto scams to run as ads on their platform.
Hiveon ASIC Firmware for T17 Series: Better Performance, Higher Stability
I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? Down -81%
Kraken Security Labs Identifies Supply Chain Attacks Against Ledger Nano X Wallets
Circle Confirms Freezing $100K in USDC at Law Enforcement's Request
Lithuania announces world’s first digital collector coin
Here’s the real use case for stablecoins right there
Loopring compatible version of the Hummingbot trading bot released, allowing users to become market makers on the Loopring DEX *while maintaining custody of their own funds*
Delisted from HitBTC, DIMCoin is oficially dead. Nothing was developed and U$ 14 million in investor funds are gone.
Active Ledger Scammer, be careful folks. Remember the basics of crypto security or learn the basics if you don’t know a scam when you see it.
Uniswap Breaking $20,000,000 Daily Volume! Is this what the beginnings of a bull run look like?
Pavillion blockchain enabled game hub goes WWW!
Infographics: Basic Crypto Terms (click the pic for the best view)
Morgan Creek Co-Founder: I’m Buying Dogecoin (DOGE); When Emoji Jack Dorsey?
TikTok Sends Dogecoin Price to 2-Year High as Twitter Says ‘Be Smart’
Launching our Large Scale Developer Initiatives for Mainnet Adoption
The COSS exchange in a nutshell.
Uniswap on xdai-chain you can now pool xDai - xMoon
Putting my life’s savings into doge. Wish me luck #roadto$1
The community-led Nano Build-off comes to a close, see the winners here. Also, a new $30,000/month build-off announced.
Ocean Protocol delivers Proof-of-Concept for Daimler South East Asia

New Moons Distribution (Round 2 Proposal)

Posted: 08 Jul 2020 11:00 AM PDT

Moons are r/CryptoCurrency's version of Community Points. Community Points are a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community.

Moons are distributed every 4 weeks based on contributions people make to r/CryptoCurrency. For every distribution, Reddit publishes karma data as a default measure of contribution. The community can review the data and optionally propose an alternative distribution, if they wish.

Here is the karma data for this round.

To propose an alternative distribution:

Create a CSV with alternative contribution scores. Use the same format as the CSV linked here.
The amount of Moons distributed to a user will be proportional to their contribution score. Contribution scores cannot be negative.
Make a poll to have the community vote on your proposal. Link to the CSV from your post, and include an accurate description of the changes you are proposing.
If the poll meets quorum (20% of Moons need to vote in it) and passes (according to the weighted results), the new list becomes the official contribution values (unless there is eveidence of abuse in the vote, such as bribery).
In case of multiple polls passing, the one with the most Moons cast in favor will be the official one.
If no alternative passes, the data provided here will become official.

The contribution scores for this round will be finalized on 2020-07-15. Any poll proposing an alternative needs to be completed by then.

After the scores are finalized, Reddit will sign the data and publish the final, official data. After that, people will be able to claim their Moons through the Vault in the Reddit mobile app.

submitted by /u/CommunityPoints
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Daily Discussion - July 9, 2020 (GMT+0)

Posted: 08 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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Australian comedian Jim Jefferies bought one bitcoin for $10,000 just for fun.

Posted: 09 Jul 2020 01:00 AM PDT

submitted by /u/Remstyles
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IOTA 2.0: Pollen Testnet Records Peak Performance of 1500 TPS, 20x Improvement in Message Confirmation Time

Posted: 08 Jul 2020 11:14 PM PDT

Finally some good news from IOTA, been holding my bag since 2017 @@ . I still remember this sub was quite hostile toward this project, wonder how is it now?

https://btcmanager.com/iota-2-0-pollen-testnet-1500-tps-20x-message-confirmation-time/?q=/iota-2-0-pollen-testnet-1500-tps-20x-message-confirmation-time/&

submitted by /u/EthanPhan
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YouTube literally allowing crypto scams to run as ads on their platform.

Posted: 08 Jul 2020 10:35 AM PDT

submitted by /u/UsernameIWontRegret
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Hiveon ASIC Firmware for T17 Series: Better Performance, Higher Stability

Posted: 09 Jul 2020 01:33 AM PDT

submitted by /u/salejkim
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I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? Down -81%

Posted: 08 Jul 2020 09:32 AM PDT

EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month 30 - Down -81%

See the full blog post with all the tables here.

Way too long/don't like words: Halfway through 2020 report: Cardano wins for second straight month, BTC still way ahead overall, ETH alone in second place. NEM (poor, poor, NEM) still in basement, down -95% since Jan 2018. Markets still going up despite world on fire. 3 x $1k investments in crypto in 2018, 2019, 2020 are down -10% total. Made a few new tables for your viewing enjoyment.

Month Thirty – Down 81%

After two consecutive strong months, the 2018 Top Ten Crypto Index Fund Portfolio lost some ground in June. In a sea of red, there was one bright spot: Cardano finished the month up +9%.

Only ADA in the green

Question of the month:

The 2018 Crypto Index Fund Experiment began January 1st, 2018. Which of the Top Ten cryptos performed best at the end of year one?

A) Bitcoin
B) Ethereum
C) Bitcoin Cash
D) Stellar

Scroll down for the answer.

Ranking and June Winners and Losers

There was a lot of movement with the 2018 Top Ten group this month. For the second month in a row, Cardano made the most upward progress, climbing two positions to reclaim its spot in the Top Ten at #9. By basically finishing the month flat, IOTA picked up one spot in the standings as well. Heading the other direction, XRP, NEM, Dash, and Stellar each fell one place in the rankings.

Thanks to Cardano's strong month, the overall drop out rate shrank to 40%. In other words, four out of the six cryptos that started 2018 in the Top Ten have dropped out. NEM, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, BSV, and newcomer Crypto.com Coin (oh, hello CRO, where did you come from?).

June Winners – Winner, singular: ADA, for the second month in a row, up +9% while the rest of the field sank or held ground. After a great spring, Cardano's summer is off to a strong start.

June Losers – For the second month in a row, XRP was the worst performer, down -15.9%. Close behind was Dash, down -15.6% in June.

How has your favorite crypto fared over the first 30 months of the 2018 Top Ten Crypto Index Fund Experiment? Most monthly wins (7): Bitcoin followed by Cardano with 5 monthly wins. The most monthly losses? A tie between Stellar and NEM, both with 5. All cryptos have at least one monthly win and Bitcoin stands alone as the only crypto that hasn't lost a month (although it came close in January 2020 when it gained "only" +31%).

Overall update – BTC returning twice as much second place ETH, NEM in basement.

Although down -30% since January 2018, BTC is still well ahead of the rest of the pack. My initial investment of $100 is now worth about $70.

Ethereum is all alone in second place, down -68%, the initial $100 investment worth about $30.

NEM (down -95%) is still in last place. That initial $100 investment in NEM? Now worth $4.71.

Total Market Cap for the entire cryptocurrency sector:

The crypto market as a whole lost about $21B in June. This is down over half from January 2018 when the market was worth roughly $575B.

Bitcoin dominance:

After three months of zero movement, Bitcoin dominance finally declined, but not by much. It's been stuck in the mid-60s to low-70s range for the past year.

Since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on investment since January 1st, 2018:

The 2018 Top Ten Portfolio lost about $20 bucks in June 2020. If I cashed out today, my $1000 initial investment would return about $187, down -81% from January 2018.

Here's the ROI over the life of the experiment, month by month:

Ah, a sea of red

After a brief dip last month into the negative seventies, we're back down to the very familiar negative eighties.

Fun fact: over the course of the 2.5 years since the beginning of the 2018 Top Ten Index Fund Experiment, the portfolio has finished over half of the first thirty months down at least -80%.

Tracking the Top Ten cryptos from January 1st, 2018 has been an undoubtedly painful exercise so far. But what about 2019 and 2020 when I repeated the experiment? Let's take a look:

2019 Top Ten Experiment: up +25.9% ($1,259)
2020 Top Ten Experiment: up +26.3% ($1,264)

So overall? Taking the three portfolios together, here's the bottom bottom bottom line:

After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $2,710‬.

That's down about -10% for the three combined portfolios. That's compared to about +4% last month. Better than a few months ago (aka the zombie apocalypse) where it was down -24%, but not yet back at January (+13%) or February (+6%) levels.

Having trouble keeping up? Yeah, me too. You know what that means?!?!?! NEW TABLE DROP!!

Combined ROI of all three portfolios

Ah, that's better. Much better.

Comparison to S&P 500:

I'm also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. Even though the US economy is still reeling from the COVID shock, the stock market (as measured by the S&P) continued to recover in June. The initial $1k investment into crypto on New Year's Day 2018 would have gained about $170 had it been redirected to the S&P.

Alright, let's compare all three years of the crypto investments to hypothetical US stock market investments. Taking the same drop-$1,000-per-year-on-January-1st-of-each-year approach with the S&P 500 that I've been documenting through the Top Ten Crypto Experiments would yield the following:

$1000 investment in S&P 500 on January 1st, 2018: +$170
$1000 investment in S&P 500 on January 1st, 2019: +$240
$1000 investment in S&P 500 on January 1st, 2020: -$40

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 $3,370.

That is up over+12% since January 2018, compared to -10% of the combined Top Ten Crypto Experiment Portfolios.

That's about a 22% swing in favor of the stock market, the widest so far this year. Last month, there was only a 6% difference in favor of the stock market. Here's another new table that shows an emerging pattern:

Three Top Ten Crypto Portfolios vs. hypothetical identical approach with S&P 500

Implications/Observations:

The 2018 Experiment's focus of solely holding the Top Ten Cryptos has not (and has never been) a winning approach when compared to the overall crypto market. The total market cap is down -54% from January 2018 compared to the -81% for the cryptos that began 2018 in the Top Ten.

This of course implies that I would have done a bit better if I'd picked every crypto, or different cryptos: throwing that $1k to Bitcoin, for example, would have me down by -30% instead of -81%.

On the other hand, this bit of diversification has served me well compared to putting all my eggs in NEM's -95% basket, for example.

To reiterate, at no point in this experiment has this investment strategy been successful: the initial 2018 Top Ten have under-performed each of the first thirty months compared to the market overall.

Repeating the Top Ten experiments in 2019 and 2020 has resulted in a slightly different story. There are a few examples of this approach outperforming the overall market in the parallel 2019 Top Ten Crypto Experiment. And for the most recent 2020 Top Ten Index Fund group of cryptocurrencies, this approach had outperformed the overall market 100% of the time…up until the last two months.

Conclusion:

We're half way through a very strange year, where it seems we're playing Biblical Plague Bingo. The US market have more or less bounced back from the shock, crypto markets to a lesser degree. What's next for crypto in an extremely unpredictable year?

Final word: Be excellent to each other.

If you made it this far, 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 my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

D) Stellar

Even though it finished the year down -66%, Stellar outperformed the rest of the 2018 Top Ten Index Fund Experiment Cryptos after the first 12 months. Second place on January 1st, 2019 was Bitcoin, down -71%.

submitted by /u/Joe-M-4
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Kraken Security Labs Identifies Supply Chain Attacks Against Ledger Nano X Wallets

Posted: 08 Jul 2020 08:41 PM PDT