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    Cryptocurrency Daily Discussion - August 10, 2020 (GMT+0)

    August 10, 2020

    Cryptocurrency Daily Discussion - August 10, 2020 (GMT+0)

    Daily Discussion - August 10, 2020 (GMT+0)

    Posted: 09 Aug 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 The prior exemption for karma and age requirements is no longer in effect.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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    $12k wall eaten

    Posted: 09 Aug 2020 07:12 PM PDT

    South Korean Highways Will Have Blockchain-Powered Toll Payments

    Posted: 09 Aug 2020 07:52 AM PDT

    For the first time ever BTC/USDT volume has been overtaken by LINK/USDT on Binance

    Posted: 09 Aug 2020 11:09 AM PDT

    It cant just be me

    Posted: 10 Aug 2020 05:05 AM PDT

    United States Congress Members Appeals For Reasonable Tax On Digital Currency Staking Rewards

    Posted: 10 Aug 2020 03:38 AM PDT

    They say Crypto is used for illegal activities

    Posted: 10 Aug 2020 04:56 AM PDT

    South Korea will raise the Crypto Captial Gains tax to 20%

    Posted: 10 Aug 2020 01:28 AM PDT

    Bitcoin Soars Liquidating MIllions In Bitcoin Shorts

    Posted: 09 Aug 2020 07:17 PM PDT

    Protip - For every $ you spend buying lottery tickets, buy the same amount in Bitcoin

    Posted: 10 Aug 2020 03:58 AM PDT

    If you think about this over the long term.

    Everyone enjoys a go on the lottery because of the thinking of what if we win...? However the chances of you ever winning are very slim.

    If you put the same amount into BTC every time you buy a ticket, you're setting money aside as an investment which only gets rarer as time goes by. If you're in your early 20s and do this for the next 40-50 years, just how much percentage of the Bitcoin pie will you be able to amass?

    Being able to buy before others know about it, is kind of like winning the lottery but in reverse.

    submitted by /u/adamavfc
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    Seems legit

    Posted: 09 Aug 2020 09:28 PM PDT

    Here’s Why a Wall Street Vet Says “Everything” Is an Inferior Trade to Bitcoin

    Posted: 09 Aug 2020 11:01 PM PDT

    Ethereum's Network Effects in Action

    Posted: 10 Aug 2020 04:23 AM PDT

    China’s first government-backed blockchain initiative has just launched an official international website

    Posted: 10 Aug 2020 01:20 AM PDT

    My friend who's a programmer thinks someone can print 1000s of BTC

    Posted: 09 Aug 2020 09:45 PM PDT

    I figured he would know this is impossible being a programmer but he doesn't buy crypto and he doesn't want to know anything about it.

    He thinks "the developer" who he doesn't even know the name Satoshi could have secret code implanted that allows him to destroy or print up thousands of BTC.

    And I don't know how to convince him otherwise. Lol

    I explained the whole block chain and how it needs to be verified. He's still convinced it can all be printed at the snap of a finger.

    submitted by /u/JuicySpark
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    How is the LINK token meant to be used? Why does it have value?

    Posted: 09 Aug 2020 09:53 AM PDT

    I'm looking for economics here, ideally with a focus on real use of products or services that require some LINK. What is the expected market and, if it accomplished all of its goals but people only ever purchased/used LINK when they had to, how would its market cap look like?

    submitted by /u/PlusLiterature7
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    Bitcoin candle jumps to $12000 - it's nice to see. (Looks like the lochness monster)

    Posted: 09 Aug 2020 09:26 PM PDT

    Bitcoin ROI from the halving and market cycle bottom

    Posted: 09 Aug 2020 11:34 PM PDT

    New York Financial Watchdog approves BTC & several cryptocurrencies for custody trading as demand for bitcoin spikes in the US

    Posted: 10 Aug 2020 05:18 AM PDT

    CoinGecko now have a dedicated tab for oracle projects after LINK and BAND surged multiple folds.

    Posted: 10 Aug 2020 05:15 AM PDT

    One of the great wisdoms of the book will stuck with me and I think is especially germane to this Bitcoin bull market

    Posted: 09 Aug 2020 11:10 PM PDT

    South Korea Reviving Tourism and User Privacy Via Blockchain Based ID Systems.

    Posted: 09 Aug 2020 12:56 PM PDT

    Venezuela. Weekly around 500 BTC are traded using LocalBitcoin, from Bs. (Venezuela "offical" currency) to BTC and from BTC to Bs. Last week it was 447 BTC. One BTC is 3,400,000,000 Bs. Monthly minimum wage is around 2.5 USD.

    Posted: 09 Aug 2020 06:31 AM PDT

    I'm Venezuelan living here.

    Just updating the Venezuela situation. Usually I post in another subreddit but wanted to post here so it reaches more people too.

    Monthly minimum wage is 800,000 Bs. (that includes food bonus) one USD is around 300,000 Bs. So do your math.

    The traded amount is measured only using LocalBitcoin (public data), there are other exhanges too. Uphold, Airtm and so on. Also there are places where you can pay directly with Crypto (Traki store being the biggest one, it is like a Sears).

    Here are more stats https://www.usefultulips.org/combined_VES_Page.html

    I recommend reading this website, it is one of the best english websites for Venezuela news (they sometimes touch the crypto and economic situation).

    https://www.caracaschronicles.com/

    Last week by a serious NGO released a survey (it is called Encovi) they concluded the average income of the Venezuela is 0.72 USD daily.

    https://www.caracaschronicles.com/2020/07/08/yes-venezuela-is-now-the-poorest-country-in-the-americas/

    I have been posting these updates for years now! I have made some really good friends here and have received a lot of help and work (translation, doing task, so on)

    Any question let me know, AMA. But check my links and sources first.

    Sources:

    https://orinocotribune.com/comprehensive-minimum-wage-increase-by-78-in-venezuela/

    https://www.npr.org/sections/goatsandsoda/2019/09/06/757822363/a-doctor-or-nurse-might-earn-6-a-month-in-venezuela-if-theyre-lucky

    https://coin.dance/volume/localbitcoins/VES/BTC

    LBTC listings https://localbitcoins.com/buy-bitcoins-online/ves/

    submitted by /u/WorkingLime
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    Grayscale’s new TV AD campaign

    Posted: 10 Aug 2020 05:34 AM PDT
    Read more
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