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    Cryptocurrency Daily Discussion - August 29, 2020 (GMT+0)

    August 29, 2020

    Cryptocurrency Daily Discussion - August 29, 2020 (GMT+0)

    Daily Discussion - August 29, 2020 (GMT+0)

    Posted: 28 Aug 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 The prior exemption for karma and age requirements is no longer in effect.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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    Money is evolving

    Posted: 28 Aug 2020 11:27 PM PDT

    Idk but I like it

    Posted: 28 Aug 2020 01:40 PM PDT

    Bitcoin SegWit usage at 67% and rising. Remember, use SegWit supported wallet and save 40% on fees!

    Posted: 28 Aug 2020 11:53 PM PDT

    When they ask me why I'm laughing as the Fed prints a few trillion more dollars

    Posted: 29 Aug 2020 01:32 AM PDT

    Chainlink Acquires Blockchain Oracle Solution From Cornell University

    Posted: 28 Aug 2020 11:26 PM PDT

    PlotX touted as the Uniswap of Prediction Markets, aims to revolutionize the DeFi Space

    Posted: 29 Aug 2020 01:55 AM PDT

    10+ years in and it STILL feels like we're early

    Posted: 28 Aug 2020 12:05 PM PDT

    This is all anecdotal, but...

    As a freelancer and musician, I've offered to let people pay me via various different cryptos (BTC, ETH, LTC, and ADA most notably) and no one has done so. Additionally, other than Bitcoin, most people haven't even heard of any of the others.

    As a YouTuber, I list several crypto addresses (BTC, ETH, LTC, ADA, NANO, BAN) in my video descriptions and have never received any donations via those avenues. I have, however, gotten donations via PayPal, Patreon, and other "legacy" means. Even traditional mail.

    No one in my family would have any idea what crypto even is other than Bitcoin if it weren't for me talking about it and the only one who knew of Bitcoin before I mentioned it was my brother-in-law.

    (Some) relatively tech-savvy people I know still think that holding coins on anything other than CoinBase is way too complicated. I'm not even that good with technology, but I feel like Banano's Kalium wallet is super easy/intuitive and I've managed to use Ledger products and other types of wallets (Yoroi, Daedalus, Trust, Exodus) without any issues. These things (I guess) need to be even easier before the general public is going to use them.

    I honestly believe that there are cryptos with real world applications and I know this is nothing like how it was in 2011, but it really feels like we are in an uber niche area still.

    I just wonder if the space will ever really mature.

    submitted by /u/wheelzoffortune
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    Alright which one of you owns this car?

    Posted: 28 Aug 2020 12:48 PM PDT

    This is financial advice.

    Posted: 28 Aug 2020 07:44 AM PDT

    Ren Holds 100 million of Bitcoin in a Single Centralized Wallet

    Posted: 28 Aug 2020 01:34 PM PDT

    Can we talk about the bots pumping articles out right now

    Posted: 28 Aug 2020 03:32 PM PDT

    Just browse 'New' of either this sub or r/bitcoin

    Its apparent that hundreds of bots are up voting and spreading positive news articles about bitcoin and other coins,

    Yes ill make money BUT aren't we in crypto for the long haul? im more interested in making money over the long term then to watch these artificial pumps and dumps

    Like most investors are holing tezo until atleast September 9th when the binance deal goes public

    But thats a natural pump, more people are going to be buying it because alot of people only use binance. Not because some whale and his army of bots want to make a quick buck.

    submitted by /u/The_Sighborg
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    Neo Joins Coinbase-led Blockchain Framework

    Posted: 28 Aug 2020 02:48 PM PDT

    Cardano-based project Ergo is handling oracles a lot differently than Chainlink

    Posted: 28 Aug 2020 08:33 PM PDT

    Blockchain Adoption in Korea Is Finally Here. Korea's Largest Bank Will Utilize ICX with MyID Integration

    Posted: 28 Aug 2020 01:08 PM PDT

    In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 60000. These coins are locked for 6 months too.

    Posted: 29 Aug 2020 02:09 AM PDT

    I had made a similar thread 100 days ago.

    The following is a simple table showing the number of bitcoins in the GBTC as seen on its page here on the given days.

    Date Number of btc in GBTC
    31 Dec 2017 170,000
    31 Dec 2018 204,390
    26 July 2019 239,513
    26 Oct 2019 257798
    7 Feb 2020 283,192
    27 Apr 2020 312886
    1 May 2020 323262
    17 May 2020 (100 days ago) 343954
    3 July 2020 386658
    27 Aug 2020 (latest today) 422308

    Number of bitcoins acquired in last ~100 days: 422308 - 343954= 78354

    The rate of acquiring bitcoin in gbtc had accelerated after the start of April 2020, as you can see above in the table. At the rate of about 800 bitcoins per day that GBTC has bought every day for last 100 days, the GBTC is buying Bitcoins equal to about 85% ( 783/900) of all supply of newly minted Bitcoin.

    And GBTC is just one of the many ETF's that people who don't want to fiddle with private keys etc, can use to acquire Bitcoin, albeit the largest one.

    In this period, the MNC Microstrategy has bought a further 22k Bitcoin.

    submitted by /u/parakite
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    sex.crypto just got sold for 90.000 USD - a new record.

    Posted: 28 Aug 2020 09:18 AM PDT

    I need advice to gift BTC to no tech savy people

    Posted: 28 Aug 2020 11:01 PM PDT

    Hi dwellers of reddit, Yesterday night a new family member was born. I want to gift him bitcoin. His parents however are normies. What's the best way to invest in the child's future without loosing the coin but still leave it in there hands? A nano s? a paper wallet? an opendime? something else?

    (how can one access a paper wallet? with any app that supports the seed wort amount (12/24 words)?)

    Edit: the solution. https://www.reddit.com/r/CryptoCurrency/comments/iipyqf/follow_up_to_a_previous_post/?utm_medium=android_app&utm_source=share

    submitted by /u/dysseus
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    Money printer go BRRR

    Posted: 29 Aug 2020 01:06 AM PDT

    Crypto trading experiment update - FOMO vs FEAR - week 7

    Posted: 28 Aug 2020 02:10 PM PDT

    This is my 7th week of my crypto trading experiment, where I run four simulated portfolios, each started with $1000. Every week I sell the coins and rebuy, with the following allocations:

    1. Buy the top 5 performing coins of the week in the top 100 on CMC; (FOMO 100)
    2. Buy the top 5 performing coins of the week in the top 200 on CMC; (FOMO 200)
    3. Buy the bottom 5 performing coins of the week in the top 100 on CMC; (FEAR 100)
    4. Buy the bottom 5 performing coins of the week in the top 200 on CMC. (FEAR 200)

    For a control, this is compared against an initial $1000 of bitcoin (bought 7 weeks ago).

    And just for fun, for the last 2 weeks I've recorded my own trades, with five coins bought as I see fit.

    Now we are at week 7, with 6 weeks of trades recorded. I have also recorded all of the existing portfolio positions, so we can also compare how they performed if they had simply stopped trading and held.

    First = the bitcoin portfolio stands at $1,223 - a 22% gain in 6 weeks.

    Here is the most recent week portfolios and results (compared to my last update 2 weeks ago)

    FOMO 100: OMG, YFI, RSR, UTK, REN $1196 (DOWN from $1307)

    FOMO 200: OMG, YFI, OXT, RSR, UTK $1087 (DOWN from $1512)

    FEAR 100: ANT, AMPL, BNT, SXP, DIVI $1204 (UP from $1197)

    FEAR 200: PNT, ANT, DGXT, AMPL, ETHOS $1093 (UP from $995)

    My picks: OMG, LINK, TRAC, YFI, SNX $1386 (UP from $1253)

    So interestingly, while altcoins have possibly had a slightly rough journey over the last 2 weeks, the FEAR portfolios have recovered slightly, and the FOMO portfolios had a huge retrace.

    And here is a table showing ALL the portfolios over 6 weeks. So week 1 shows the position if I had bought but never traded again, while week 6 shows the effect of buying and re-selling over six weeks.

    Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Average
    FOMO 100 $1275 $1386 $1051 $1201 $1063 $1196 $1195
    FOMO 200 $1036 $1382 $948 $1264 $1227 $1087 $1156
    FEAR 100 $1032 $1177 $1483 $1035 $1001 $1204 $1155
    FEAR 200 $973 $1119 $1391 $840 $908 $1093 $1054
    My picks $1383 $1386 $1385

    So looking at the current positions (week 6) the experiment has failed to matched bitcoin's movements, with the FEAR 100 portfolio close but not quite there.

    On the other hand if we average the results of all the portfolios over the six weeks, we see that the ranking favours the "FOMO" strategy (skewed towards the top 100) but only just.

    Quite happy with the performance of my picks so will try and keep that up.

    Also - a fun fact. The best buy over the entire 6 weeks was Solana, bought on July 30 and up 150% (bought in the FOMO 200 portfolio in week 4). The worse buy was not in fact Ampleforth (though that was close) - it was in fact Ditigtex, bought July 23 in the FEAR 200 portfolio in week 3 - down 52%.

    Week 8 portfolios as below with prices (recorded 2 days ago):

    ​

    My picks: Lend 0.836 , Cosmos 7.82, YFI 15206, Kusama 30.90, Serum 2.04

    FOMO Top 100 Kusama Ant (9.53) Celo 4.09 OMG 5.25 LEND 0.836

    FOMO top 200 Kusama Stake (19.64), Ant (9.53) Storj (0.464) Celo, OMG 5.25

    FEAR Top 100 Nervos (.007154), Wave 3.24 Hedgetrade 1.58, Holo 0.000741 ADA .1144

    FEAR Top 200 Swap (.8511) Handshake (.142) Trac (.197) Hive 0.23 Nervos

    Will any of these be able to stand their ground vs BTC? Final update in 2 weeks!

    submitted by /u/Cryptodragonnz
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    Neo DeFi protocol, Flamingo, to begin phased roll-out in September 2020

    Posted: 28 Aug 2020 08:57 PM PDT

    Got some crypto collectibles. Hopefully they will be worth something in the future.

    Posted: 29 Aug 2020 03:58 AM PDT

    Visa exec says buy Bitcoin as dollar index nears $12.5K BTC trigger

    Posted: 28 Aug 2020 05:13 AM PDT

    Does Bitcoin Solve The Double Spending Problem?

    Posted: 29 Aug 2020 03:11 AM PDT

    Good crypto-related Youtube channels?

    Posted: 28 Aug 2020 07:38 PM PDT

    When I first start getting into something (Crypto, this time), my first sources are always Youtube videos, since I can always listen while working, commuting, etc.

    ​

    I started with a few, but some of them were mentioned here a couple of times as "sellouts" for pump and dump schemes. So, I was wondering if you have any good suggestions? I searched related posts but most are pretty old, and they might have changed since then.

    ​

    So far, ones that remain good "unbiased" (as much as can be) sources IMO are: The Modern Investor, Crypto Jebb, EllioTrades Crypto, and Coin Bureau. Any others? Am I wrong about any of these?

    ​

    Maybe also Podcasts, now that I think about it.

    submitted by /u/hughvr
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