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    Cryptocurrency Daily Discussion - October 31, 2020 (GMT+0)

    October 31, 2020

    Cryptocurrency Daily Discussion - October 31, 2020 (GMT+0)

    Daily Discussion - October 31, 2020 (GMT+0)

    Posted: 30 Oct 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 The prior exemption for karma and age requirements is no longer in effect.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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    Today is the 12 year anniversary of the Bitcoin whitepaper!

    Posted: 31 Oct 2020 12:22 AM PDT

    On October 31st 2008, Satoshi first sent out the link to the Bitcoin whitepaper, entitled: Bitcoin: A Peer-to-Peer Electronic Cash System.

    I confess that I had been invested in Bitcoin for almost 2 years before even reading the whitepaper, so for any of you out there who have perhaps never read it, I thought I'd include a link where you can download a copy of the whitepaper in several languages.

    https://bitcoin.org/en/bitcoin-paper

    Happy birthday Bitcoin! (although the first transaction didn't take place until January 2009)

    submitted by /u/crypto_grandma
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    Just made my first PayPal crypto purchase. 1000x easier than any other crypto purchase I’ve made and with zero fees. This feels like a huge positive step forward for adoption!

    Posted: 30 Oct 2020 07:59 AM PDT

    Bitcoin Fees are soaring again (> $10) and highest number of unconfirmed transactions since in 2 years (over 150k pending txns right now)

    Posted: 30 Oct 2020 08:36 PM PDT

    The average confirmation fee is now $11.6...

    Unconfirmed transactions are almost near the Jan 2018 levels

    Although, there has not been any abnormal spike in actual usage i.e number of transactions per day. -It is still below Jan 2019 levels.

    On forums, people are complaining about transactions that are stuck for several days, and are trying to speed it up by RBF or child pays for parent by making a new transaction with a much larger fees... Although Bitcoin searches on Google Trends is much below the Dec 2017 peak

    submitted by /u/Set1Less
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    Bitcoin Decouples From Wall Street as BTC Dominance Soars

    Posted: 30 Oct 2020 05:14 PM PDT

    Bitcoin price hits $14,000 exactly 12 years after whitepaper released

    Posted: 31 Oct 2020 04:22 AM PDT

    This month's market recap:

    Posted: 31 Oct 2020 04:14 AM PDT

    Bitcoin doesn't care who wins the US election — it will rise in value regardless of the outcome, a cryptocurrency fund chief says

    Posted: 31 Oct 2020 04:06 AM PDT

    Bitcoin transaction fees break the 1000-day record

    Posted: 31 Oct 2020 01:33 AM PDT

    Why Bitcoin price and volume rising together is bad news for Ethereum, altseason

    Posted: 31 Oct 2020 03:54 AM PDT

    Proposal: Post of the week Competition

    Posted: 31 Oct 2020 02:27 AM PDT

    Recently there seems to be a decrease in the amount of really high quality posts. There are often really great posts but most of the time they don't get the visibility or enough upvotes and end up dying in new. I fee this really demotivates people from creating high quality posts that take a lot of time and end up just making memes or posting news. My proposal is that there is a sort of weekly competition where high quality posts is submitted in a discussion and the top voted ones are rewarded with some moons (Maybe a top 3 or 5). This could really liven up the sub and get more people involved in making this sub a better place. I posted this as a discussion yesterday and it got quite a bit of positive feedback. I'm making this into a poll first to see if people actually agree with this proposal so that I can take it further and propose it to a mod and hopefully from there work on the specifications of the competition together.

    View Poll

    submitted by /u/flacciduck
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    Sydney concert promoter Harpreet Singh Sahni confesses to $50 million cryptocurrency scam

    Posted: 31 Oct 2020 01:13 AM PDT

    ALERT: ICON (ICX) is facing a lawsuit and they've been censoring people asking about it and exposing questionable action on their network

    Posted: 30 Oct 2020 02:48 PM PDT

    ALERT: ICON (ICX) is facing a lawsuit and they've been censoring people asking about it and exposing questionable action on their network

    Back in August, Icon claimed a hacker was able to mint 20 million ICX tokens exploiting some vulnerability in ICX's code. More recently, a lawsuit's been filed against them, which they've been censoring on social media. They blocked me on Telegram for posting a link and asking questions about it while also removing any traces of it so others can't see.

    For example, one of their own developers/mods even chimed in comparing the recent bug as worse than the eth dao hack and suggested Icon's not decentralized as it seems:

    https://preview.redd.it/rrh23wmayaw51.png?width=615&format=png&auto=webp&s=1985ed8114e3163cad62722dc662ea4fe0285fc8

    Other people made similar comments and one of the mods promptly removed their posts. When someone noted that this bug is pretty serious even for crypto standards (multiple users freely minting 20 million ICX tokens which is $6 million today, $250 million at ATH), the mod brushed it off as "it's software, happens no matter what".

    People also asked if the Icon foundation did manage to get back the stolen funds as promised and the mod deflected the question yet again. If they retrieved the funds, why are there no transactions from the wallet in question since or the promised token burn? Not a single person from Icon has been able to tell me "I can assure you funds are safe". Others have asked about it and most questions were left unanswered.

    No one's been able to give me a clear answer so that tells me either a) they're hiding something or b) they lied about retrieving all the funds back and now they're trying to figure out a way to hush it all up. It's very unsettling when they're faced with a lawsuit and censoring fair questions about it, yet alone when even one of your own developers and mod agree these are serious concerns (the other mod censored him too lol). If y'all ICX folks are clean as you say, then provide some proof and prove me wrong. Otherwise, it's looking extremely sketch and we can only assume otherwise.

    submitted by /u/SandbaggingHermit
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    SCAM ALERT: The Stratis team has announced a token swap - unsupported by exchanges and leads to delisting of the token on its few remaining exchanges

    Posted: 31 Oct 2020 03:42 AM PDT

    After years of broken promises, inability to deliver as well as decline in market cap and community, Stratis - a former, wannabe "competitor" to Ethereum - has pushed the community to agree to an unfavorable token swap, basically diluting the token value by >25% through higher annual inflation and increasing token balance (to be credited to the "dev" team).

    Not only did they urge the token holders by leaving no choice, "either you agree or we will abandon the project (due to funds)", but also purposefully did not release already developed features - only to be available post-swap.

    While this is already abysmal, the team continues to scam the remaining community and token holders through a rushed and uncoordinated token swap to be completed within less than a month (until mid November) and without enough advance notice and only scarce information during the token swap:

    • no exchanges announced to support the token swap
    • manual swap procedure failed for several holders
    • no clarity where the token will be traded afterwards

    In addition, several of the few remaining bigger exchanges supporting Stratis - like Poloniex - are already delisting the token.

    So, we got a value dilution through an immediate and hidden dev tax, intransparent and unhonest token swap and loss of the few exchanges to sell the crap! (And of course you get blocked for raising these points in their ghost town sub)

    Well done team!

    submitted by /u/Antana18
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    How COVID-19 has impacted crypto mining operations

    Posted: 31 Oct 2020 02:59 AM PDT

    Vitalik changes his tune on Tezos

    Posted: 30 Oct 2020 08:08 AM PDT

    Rotki, the portfolio tracker that protects your privacy, releases v1.8.3 with metamask import, bitcoin xpub support and more!

    Posted: 31 Oct 2020 04:26 AM PDT

    What caused the 30% drops in BTC during the 2018 bull run, and do we expect the same thing to happen next time?

    Posted: 31 Oct 2020 04:15 AM PDT

    Do we have any clear understanding why we get these big drops during bull runs? I've seen the charts from 2017-2018. Were they caused by bad news in the market? Or is it whales dumping and crashing the market, only to buy back in lower? Or something more natural in the dynamics of financial markets and human nature?
    Do you expect the markets to behave in the same way moving forward? I think people are looking to hodl bitcoin specifically- rather than dump at a specific price. Will this stabilise BTC and reduce these crazy drops?

    What do you think?

    submitted by /u/GreystarTheWizard
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    Stay safe out there

    Posted: 31 Oct 2020 03:54 AM PDT

    Cryptocurrencies are here to stay, says Jack Ma

    Posted: 30 Oct 2020 05:53 PM PDT

    Bitcoin is approaching all-time highs! When will it happen?

    Posted: 30 Oct 2020 05:32 PM PDT

    Blockchain is improving healthcare in 2020, Blockchain promises to radically improve data sharing in healthcare and support the fight against COVID-19.

    Posted: 31 Oct 2020 01:19 AM PDT

    Who is buying these moons?

    Posted: 30 Oct 2020 04:04 PM PDT

    I know there have been a few threads like this, but hear me out.

    I'm going through the rich list of Moons (https://rinkeby.etherscan.io/token/0xdf82c9014f127243ce1305dfe54151647d74b27a#balances) and.. I'm confused. Up to where I'm checking, no one is a buyer. I know a lot of people here are selling, but I'm checking the incoming balances on the top 50 holders and (almost) all the incoming is from the distribution account.

    This genuinely makes me wonder who is buying these Moons. There's a fair amount of volume on the xMoon exchange, the Nano/Moon Atomic Trade is getting quite some traffic, so.. who is doing the buying?

    I'm genuinely wondering whether something fishy is going on here. I've also been checking this subreddit, there are very few people publicly saying they are buying moons while there are quite some that mention that they've sold Moons (myself included). If you're buying, you're probably anticipating the price to go higher so you'd want to generate some positive sentiment around buying Moons, unless they're hoping to stock up cheaply for as long as possible.

    So here's a call to anyone that's been buying Moons. Did you do just some small transactions? Are you just scooping up in the hopes of the price staying "low" for now and keeping on the down-low (I realise these wouldn't reply, lol). What's your price prediction for Moons?

    If anyone doesn't want to share publicly but does want to help me out, feel free to shoot me a PM. I promise I won't share, I'm just genuinely curious.

    submitted by /u/SenatusSPQR
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    While not as obvious as the Paypal advancement, this is comparable and deserves more publicity: Verizon announced they will be using Ethereum to log press releases - this blockchain-based press release system is designed to “ensure corporate accountability and trust."

    Posted: 30 Oct 2020 12:02 PM PDT

    Verizon's main website has more information about their integration of blockchain and Ethereum.

    We have one of the largest companies in the world - technically one of the largest in the history of the world - planning on using a blockchain, Ethereum no less, in the use of press-releases -- communiques on daily, weekly, and monthly business proceedings.

    Today, Verizon beat the crypto news industry to the punch. It announced that it's implemented a blockchain-based record for its press releases.

    The new system, called Full Transparency, is a blockchain-based, press release-recording system "designed to raise the bar for corporate accountability." It cryptographically bounds each press release to the blockchain, tracking and contextualizing subsequent edits.

    From YahooNews::

    A lack of transparency has the potential to undercut corporate credibility. According to the 2020 Edelman Trust Barometer, nearly 60% of consumers globally believe that the media they consume is contaminated with untrustworthy information. Transparency in news releases is an important step that a company—particularly a publicly traded one—can offer. Full Transparency's goal is to change the way corporate newsrooms provide visibility to their readers and hold themselves accountable for what they communicate to the public.

    In order to stay competitive, incorporating blockchain/distributed ledgers is going to be necessary in the market and business world -- and this is just one example from one company. And they're using a public blockchain, not a centralized corporate fake.

    This is the type of news executives and board-members throughout the world are going to see and make note of. It may be cliché, but doesn't make it untrue -- this is big news and will reverberate much like the Paypal announcement did in my opinion.

    submitted by /u/pale_blue_dots
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    12 years ago on 31st of October, Satoshi Nakamoto published the Bitcoin White Paper. It has 'died' 383 times since then. Bitcoin’s first-ever recorded trading price on 17th of March 2010 was $0.003, today we're at $13,500. Long live Satoshi!

    Posted: 30 Oct 2020 12:16 PM PDT
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