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    Cryptocurrency Daily Discussion - October 5, 2020 (GMT+0)

    October 05, 2020

    Cryptocurrency Daily Discussion - October 5, 2020 (GMT+0)

    Daily Discussion - October 5, 2020 (GMT+0)

    Posted: 04 Oct 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 The prior exemption for karma and age requirements is no longer in effect.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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    everybody meet Greg. Don’t be Greg

    Posted: 04 Oct 2020 11:27 AM PDT

    What we expected...

    Posted: 05 Oct 2020 12:58 AM PDT

    Both can be true

    Posted: 04 Oct 2020 02:48 PM PDT

    'Nerd money' vs. central bank money (classic Andreas Antonopoulos)

    Posted: 05 Oct 2020 02:17 AM PDT

    Rest in peace guy

    Posted: 05 Oct 2020 02:16 AM PDT

    COSS exchange (coss.io) has stolen an estimated 685k UFR tokens ($50k worth) from users and has refused to return them for 9+ months under the guise of "audit". 50+ other projects have been affected as well: Enjin, LINK, Bancor, Kyber, Maker, ZRX, Loopering, OMG, REQ, STORJ, Civic, Quant, and more.

    Posted: 04 Oct 2020 04:29 PM PDT

    The first step isn't understanding bitcoin

    Posted: 05 Oct 2020 01:21 AM PDT

    Yes it is.

    Posted: 04 Oct 2020 12:13 PM PDT

    Please do your research

    Posted: 04 Oct 2020 09:08 AM PDT

    How this community changed my life (living in Venezuela)

    Posted: 04 Oct 2020 07:54 AM PDT

    Hi,

    When I started this account my intention was to report what was happening in Venezuela when it comes to crypto, trading, adoption and in general about the Venezuelan economy.

    At the beginning I was a little afraid (Like other countries like Venezuela, reporting things here can get you in REAL trouble), maybe that is I'm a little paranoid, but it is something real here they have jailed people even with anonymous users in twitter just for posting pictures. While I'm not a journalist looks like in the end I like that too! I took my paranoid to the point of not showing the serials of the Bolivares banknotes in the pictures I posted worried about the would be able of tracing them (Ok, I exaggerated)

    In all these years I have had great success with my posts, I think I have done my work letting the people know the truth here, got so many questions and made some really good internet friends (I have done voice calls with some of them), it feels weird and nice when "user123" sends you a message if you are ok because he read something bad about Venezuela. Years ago I found a way of sending some Bolivares banknotes to some users in the States, it was nice! Some people send me some tips and donations (without asking for it, by the way!), some of them found me work translating, teaching Spanish and doing other things!

    In the last days I have had some serious connectivity problems (No internet, not even with a phone), there are days like that. So I was totally out of the loop about the Reddit Moons.

    Yesterday I got a DM from some of these friends and he say that I REALLY need to check about that because it can change my life, I was of course exceptical at the beginning and totally OUT of the loop, I just didn't understood his message. But after reading I notice I had a respectable amount of Moons, I shocked and asked for help to convert them to BTC or ETH or something easily exchangeable. This user pointed me to this post: https://www.reddit.com/r/CryptoCurrency/comments/j10ja0/full_detailed_guide_converting_reddit_moons_to/?utm_medium=android_app&utm_source=share

    And I did.

    Maybe it was not the wisest decision, considering I believe in crypto but considering my situation I needed to have something sure even if it might be less than me waiting more. Heck, because my internet problem I could have noticed before and get a better trade! I think I can live with that. Like people that purchased BTC at 18k hehe.

    I followed the steps in the post and it worked fine, after I had the DAI I could use my online exchange Uphold (It is very popular here), for us sorta works like a bank and then if I want to go to Bolivares I can move from Uphold to Airtm (this one banned by the government by the way, using it is illegal) and cash out. I was able of going Moons to Bolivares in maybe less than 2h? Got several hundreds USD!

    With that money I for sure improve my life.

    At home I have several artifacts that needs to be fixed like:

    ​

    • Freezer (it doesn't work at 100%, cannot afford a new one)
    • Computer (it has a problem with the ram, and old PC from 2008, core 2)
    • Electric stoves (as there is NOT cooking gas nationwide, 95% of the Venezuelan are moving to electric stoves, cheap models 10USD each one, they are poorly made and always get damaged because the permanent usage, they are intended for short usage).
    • Paint at home (years since I painted, one gallon of paint is 20 USD, an unreachable amount for a big part of the Venezuelan, people would prefer to buy food)
    • Metal bars are rusted (here, as in other Latino countries, houses have these metal bars to protect windows and doors), security risk.
    • Others I don't remember, have to make a list. It is common things to break or fail when you do a little for at least 10 years.

    I could also make a good purchase at the supermarket and also purchase the medicines for my parents for several months (blood pressure). Along other needs.

    I will try to save, but believe me here it is really hard.

    Sadly it won't be enough to pay for a "better" internet connection, here we have some private WISP where you have to pay 40 USD monthly for a 4Mb connection and also 300 USD for installation! It is a pity! I will have to keep working from my goverment ISP (See below for more info). Considering the amount I think even with the money I would deny to pay 40 USD for 4Mb!!

    Remember, we in Venezuela are like "modern 2.0" poor. Most of us have and old computer, smartphone and internet but any money (we went poor AFTER 2013). That is why there are so many young Venezuelan playing runscape making money.

    Cuba stopped at the 50', North Korea before that but Venezuela is stuck in the 2010' so for now we are not that "far" from the globalized work and keeping access to internet and cable TV makes hard for us to lag like Cuba and other countries.

    Status of the public services:

    • Tap water: Almost free, but comes two or four times monthly, so you have to have water tanks at home. If the tanks don't last the time that takes to come again you have to purchase water from water trucks, 1000 liters are 5 USD.
    • Electricity: totally free but unreliable, last week I had like 20 h without service. Even yesterday Saturday I was without power from 6pm to 10pm (load saving).
    • Cooking gas: there is not cooking gas nationwide, like gasoline. People rely with electric stoves and with constant electricity blackouts you could be eating a sandwich for lunch or just waiting the electricity to come back. The electric system is at the limit and because the increase usage of electric stoves it is worse! The load of these is really high.
    • Phone and internet: state run ISP has the biggest coverage, cheap, slow and unreliable. I'm posting this from a 1Mb connection right now that costs maybe 1 USD monthly. If you check https://www.speedtest.net/global-index we are 169, very close to countries like Cuba, Gambia, Yemen and Sudan! 10 years ago I had a 6Mb connection, I wasn't top of the work but it was "ok" for the latin america scenery.

    Well that is all I wanted to say. Later I will post the Localbitcoin stats for the last week!

    I just want to thanks the /r/cryptocurrency community. I'm here for any question or request!

    ​

    Best regards and take care!

    ​

    Edit: Now problem are the wages, the price of the goods is similar to Colombia or Peru. One kilo of rice, sugar, pasta or flour is 1 USD. One kilo of meat is 5 USD. One liter of milk is 1 USD. 12 eggs are 2 USD. So, 100 USD wont make you a millionar, at least not now (years ago maybe). A good purchase for a 4 family for one month could be easily 100 USD, of course eating balaced. If you go only rice and fish (whcih is not ok) you can go really low.

    submitted by /u/WorkingLime
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    No Trump dump for crypto markets with $5 billion added over the weekend

    Posted: 05 Oct 2020 01:39 AM PDT

    Estonia Getting Ready to Learn Concepts of Central Bank Digital Currency (CBDC)

    Posted: 05 Oct 2020 03:25 AM PDT

    3 years ago in October, right before the big bull

    Posted: 04 Oct 2020 05:14 PM PDT

    Who remember this guy. According to him Btc price suppose to be more than $56k now.

    Posted: 04 Oct 2020 10:48 PM PDT

    In 2013 Coinbase raised $25Million in Bitcoins biggest ever funding deal. It's amazing to see how far this market has come in 7 years.

    Posted: 05 Oct 2020 01:15 AM PDT

    75 Crypto Exchanges Dead in 2020 – More Will Follow

    Posted: 05 Oct 2020 12:03 AM PDT

    It's still unbelievable how hard BTC (and other coins) have gone up in the past 5 years.

    Posted: 04 Oct 2020 08:51 AM PDT

    The future of digital money is coming... BUT do we really want it?

    Posted: 04 Oct 2020 05:42 PM PDT

    Scam subreddit approving users r/help_monero_grow

    Posted: 05 Oct 2020 03:05 AM PDT

    So I've just been accepted to a subreddit I didn't apply to, which requests for funding for a crypto to help development of Monero, Wownero. It claims to have the support of this community's mods. I think it is private, but here are the "benefits" of investing in it:

    https://imgur.com/T6RaYwk

    The community is r/help_monero_grow

    submitted by /u/asshole_cookies
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    Actually saw one in the wild that worked

    Posted: 04 Oct 2020 09:07 PM PDT

    Cardano is at 38% decentralization currently. Pretty good progress in 2 months

    Posted: 04 Oct 2020 02:39 PM PDT

    The Sovereign Individual released in 97 In the new Millennium, cybermoney controlled by private markets will supersede fiat money issued by government’s

    Posted: 04 Oct 2020 02:26 PM PDT

    A friendly reminder to everyone - Try not to buy bridges from Nigerian Prince

    Posted: 05 Oct 2020 02:20 AM PDT

    Me, when i trade small amounts on Uniswap

    Posted: 05 Oct 2020 03:57 AM PDT
    Read more
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