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    Cryptocurrency Daily Discussion - November 12, 2020 (GMT+0)

    November 12, 2020

    Cryptocurrency Daily Discussion - November 12, 2020 (GMT+0)

    Daily Discussion - November 12, 2020 (GMT+0)

    Posted: 11 Nov 2020 04:09 PM PST

    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 The prior exemption for karma and age requirements is no longer in effect.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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    One of the Largest Bitcoin Whales in History Just Moved $225,000,000 in BTC

    Posted: 11 Nov 2020 02:48 PM PST

    I just became 17 years old and I have to admit that cryptocurrency completely changed my life.

    Posted: 11 Nov 2020 05:42 AM PST

    I just became 17 years old and I have to admit that cryptocurrency completely changed my life.

    You know those events that feel like will have more impact that you know in your life? Well, that exactly what happened to me with crypto. I just turned 17 years old and realized that the discovery of the blockchain has affected my life and caused so many butterfly's effects that I can't even believe it.

    For context I was a fairly average argentinian boy before I discovered you guys. My family never suffered hunger but we never were (and still aren't) rich. The fear of socialism and becoming the next Venezuela was always there, that's why the second I was browsing trough r/popular as a 14 year old and found a top post about r/CryptoCurrency I became instantly addicted to it, when I found out that I could hold this magic internet coin that was called Bitcoin and that I could move it around freely, didn't have to give information to anyone and that me, as a 14 year old could buy is when I fully got into it.

    I started buying and experimenting, not for the hell of getting rich, but just because I loved the concept, something about permission-less money seemed magic to me. When a transaction arrived to my wallet I knew "this is mine and nobody can't touch it". I felt powerful as fuck. And sure, I fucked up a lot of times, (https://www.blockchain.com/btc/address/12EiYf35g8Xn5wifnzvyj4PYgmJxuDJfa2 was mine and all my savings at that time were on it, till I lost the private key because I was a noobie. I guess you're are all welcome as these Bitcoins will never hit the market again) but I sure learnt from it.

    I received the Uniswap drop, moons and trough hard DCA buy ins (sometimes I didn't even eat at school just so that I could save the money) I managed to grow a portfolio from the hundreds to recently 5 figures, and I couldn't be happier about it, but that's not the most important aspect of all of this, the thing is that due to discovering crypto I also discovered self improvement. I became confident, I got fit and the most most important thing of all is that I discovered my passion. I found out that I loved crunching the numbers, searching for investing opportunities, calculating rates and everything else. That's why I'm currently working as hard as possible to get a scholarship to study investment banking.

    And that's the reason I am making this post, to thank you guys. I just woke up and by getting a year older I got the chance to reflect on what I have made and achieved over the recent years and I found out that if it wasn't for you I probably wouldn't be anywhere close to where I am today.

    ​

    Thank you, all of you, Satoshi Nakamoto for creating the most innovative technology of this century, LocalBitcoins for letting me buy crypto as an underage and most importantly thank you r/CryptoCurrency, because when I didn't even knew what segwit was or how private keys worked you were there for me. You have truly changed my life and helped me find my road in life.

    I hate to do this but sadly there are a lot of people that post fake stories to get magic internet points and recently moons so I decided to post this image:

    ​

    https://preview.redd.it/vy8w8c157my51.jpg?width=1280&format=pjpg&auto=webp&s=80f1014ed6a7e000271579e7f6ee7833c5bdb89d

    Hopefully it adds some credibility to what I wrote above, thanks for reading!

    submitted by /u/BankBailout
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    Bitcoin Hits $16K For a New 2020 Record: 325% Up Since March Yearly Low

    Posted: 11 Nov 2020 10:34 AM PST

    ‘Slippery slope’ as new Bitcoin mining pool censors transactions

    Posted: 11 Nov 2020 08:40 PM PST

    Reasons why Venuzuela is the biggest adopter of cryptocurrencies.

    Posted: 11 Nov 2020 09:13 PM PST

    Venezuela is an example of cryptocurrency adoption during an economic crisis. No other economy facing hyperinflation has come near the South American nation in terms of GDP-adjusted activity on peer-to-peer crypto exchanges.

    In general, Venezuelans cite a combination of factors for the rise of crypto there including migration, capital controls, risk of government seizure, demand for hard money and exposure to the petro, the cryptocurrency backed by the government.

    In GDP-adjusted analyses of peer-to-peer bitcoin trading volumes,Venezuela has continued to dominate – with a monthly level at least twice as high as the next-largest market, Nigeria.

    Other countries that also suffer from hyperinflation have not come close to Venezuela in peer-to-peer bitcoin activity. Among the 10 economies that have experienced the highest rates of annual inflation since 2017, according to data from the International Monetary Fund, only Venezuela, Argentina and Iran have shown significant peer-to-peer bitcoin market activity, and none approach Venezuela in size or consistency. Venezuela's peer-to-peer bitcoin activity has been extraordinary, whether measured as an absolute or relative to GDP.

    What sets Venezuela apart may be governmental support of a digital currency. The petro helped loosen Venezuelans' fear of dealing with services like LocalBitcoins . Venezuelans prefer peer-to-peer exchanges also because they're better than other alternatives. Centralized services, for example, have lower liquidity and less-developed trading capabilities due to a lack of service from Venezuelan banks. The "early bird" factor is yet another reason. LocalBitcoins became such a popular exchange in Venezuela not only because it was inexpensive, but also because it was the first thing available to Venezeulans as soon as government normalization of cryptocurrencies was in the air around 2017.

    Read the full article here:https://www.coindesk.com/bitcoin-adoption-venezuela-research

    submitted by /u/-TimeAndTide-
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    Live in Rural America and just heard Bitcoin

    Posted: 11 Nov 2020 09:54 PM PST

    A dude local to me posted in a facebook buy sell trade group he is selling his Camaro for 40k just to double down on Bitcoin. We live in a town of no more than 8,000 population. I never hear anyone here talk about crypto. Was awesome to see! Although, a risky trade but hey I'm confident too.

    submitted by /u/blues17sr
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    Feels so got damn good to just sit back and relax.

    Posted: 11 Nov 2020 08:32 AM PST

    For what feels like the first time in an eternity, I feel like I can just sit back and enjoy the ride. None of my other friends care, or even care to understand crypto, so just had to share the feels with someone! Cheers to the ride ahead, fam.

    submitted by /u/myhaxdontwork
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    2key is a Layer2 Ethereum Blockchain, that transforms today’s HTTP links into Decentralized ones and offers a solution to the typical fraud-related real-time ad bidding ROI losses.

    Posted: 12 Nov 2020 02:11 AM PST

    One of China’s biggest banks is allowing investors to buy bonds with Bitcoin

    Posted: 12 Nov 2020 03:26 AM PST

    The importance of a hardware wallet and why anyone sertious about investing in crypto currency should get one.

    Posted: 12 Nov 2020 03:45 AM PST

    I've come across quite a few posts where i found people not making use of hardware wallets and though that i should try and shed some light on the issue and identify the benefits of using one.

    Simply put: a hardware wallet is a physical device that is specifically built to store private keys of cryptocurrencies.

    Unlike traditional crypto wallets which can be used to hacked into or attacked with a virus, a hardware wallet can be used to go online whenever you want to make a transaction, and then be taken offline to facilitate portability and maximum security.

    Some of the most trusted cryptocurrency hardware wallets are – Ledger and TREZOR.

    Using a cryptocurrency hardware wallet comes with several benefits that traditional wallets do not have, let's explore some of them.

    Private Keys remain unexposed

    The only place you will be required to put in your private keys is your hardware device. Since your private key does not reach your computer, it is not exposed to being hacked or copied.

    Pin Encryption increases security

    An encrypted pin protects the hardware wallet. This pin is generated by you and is known only to you. If anybody tries to forcefully activate the device by trying in different pins, the device will self-destruct after the third wrong pin entry. The public and private keys on the device will be deleted to ensure the safety of your funds.

    Hosting multiple Cryptocurrencies on the same wallet

    Cryptocurrencies are not physical things that actually require space, therefore, there is no limit to how many cryptocurrencies your wallet can hold. Some Hardware wallets can hold multiple cryptocurrencies like Bitcoin, Ethereum, and Ripple simultaneously.

    Immune to Computer Viruses

    Since most viruses are designed to attack system software, they are ineffective on your hardware wallet. Hardware wallets cannot be attacked like software wallets and therefore, they are your safest option when it comes to cryptocurrency wallets.

    Verification on the Hardware Device

    You have to verify your transaction through your hardware wallet and not online on the computer. Therefore, nobody can make transactions without having access to your device. As long as you keep your device safe, you can rest assured that there will be no tampering with your funds.

    submitted by /u/Nussayr_Saidi
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    Does it make sense for Indians to buy bitcoin instead of gold this Diwali?

    Posted: 11 Nov 2020 11:35 PM PST

    Bitcoin crosses $16,000 for the first time since 2017!

    Posted: 12 Nov 2020 01:57 AM PST

    Can bitcoin or other cryptocurrencies replace gold?

    Posted: 12 Nov 2020 12:52 AM PST

    US Representatives Rip OCC, Brooks for ‘Excessive Focus’ on Crypto

    Posted: 11 Nov 2020 11:56 PM PST

    So, Coinbase's former chief attorney becomes the most powerful bank regulator in the United States, he then proceeds to INCREASE cryptos adoption. And what do our esteemed members of congress do? They COMPLAIN about it in a letter addressed to him and his office!

    Link below.

    What can we do to tell these representatives that they do not represent US?! These congressmen and women should be supporting OCC Brook's efforts to increase cryptos adoption. Crypto is quite literally helping me financially throughout the pandemic and it can help millions of other Americans. This is some grade A Bullsh!t!

    https://www.coindesk.com/us-representatives-blast-occ-crypto

    submitted by /u/FIREWithCrypto
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    Cashless society is coming sooner than we think.

    Posted: 11 Nov 2020 04:01 PM PST

    Moons really brought some much needed positivity to my life!

    Posted: 11 Nov 2020 12:21 PM PST

    With Covid 19 running rampant I am sure many people have struggled and this year has been very taxing on a financial, mental and emotional level. I, like many others, have kinda struggled to make ends meet with losing my job due to covid and while it's been rough I must say that moons have really helped me in recent times.

    It's not a huge amount of money by any means, but selling moons has at least somewhat eased my financial burden and allowed me to treat myself with some small things like getting a big one at dominos every now and then instead of the usual ramen and buying the last of us 2 which I really loved and used to at least temporarily escape the real world.

    So yeah, while it's not much I want to thank reddit for this awesome idea and I want to thank all of you guys on this sub for the daily discussions, help, and for indirectly making my life just a little bit better and making this whole pandemic more bearable. I love you all and I really hope all your portfolios turn greener than Snoop Dogg's personal stash and that there's great times ahead for all of us and crypto as a whole ❤!

    submitted by /u/DestroRe13
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    MakerDAO's DAI Stablecoin Breaks $1B Market Cap

    Posted: 11 Nov 2020 03:07 PM PST

    Here’s what caused Ethereum’s “unannounced hard fork” on Wednesday.

    Posted: 12 Nov 2020 12:11 AM PST

    Bitcoin Price Breaks Above $16K for First Time in 3 Years!

    Posted: 12 Nov 2020 02:32 AM PST

    Hot New 'Un-Stablecoin' Pegged to Your Self-worth

    Posted: 11 Nov 2020 11:45 PM PST

    Bitcoin Stock-to-Flow Model Still on Track Despite Big Bets Against it

    Posted: 12 Nov 2020 12:55 AM PST

    I've bought my first Cold Wallet with MOONs and I'd like to say thank you to this community

    Posted: 11 Nov 2020 11:35 AM PST

    I've bought my first Cold Wallet with MOONs and I'd like to say thank you to this community

    Hello sub,

    I hope you're doing great and are being bullish.

    I'd like to express my gratitude to this community as a whole, because without You I'd probably still be enslaved by the corrupt banking system.

    I'd like to say Thank You to everyone in here. For the past few months that I've been lurking around this subreddit I've learned hell of a lot about crypto as a whole, split into coins, satoshis, markets, DeFi and blocks. As a person who had been starting with BTC in 2015 I've witnessed the 2017 bull market, but only recently started to question myself how and why is all of this working. So I started digging into the rabbit hole, deeper and deeper with time, learned the basics of the technical and market side, as well as the rule #1 rule of BTC and crypto "Not you keys, not your bitcoins". I've started listening to Crypto related podcasts that thought me how we are enslaved by the Central Banks and how they make regular people suffer in the long run. All this thanks to the people of this community, thanks to You.

    ​

    After the latest MOONs distribution last week I told myself that I should put the money I earned (thanks to you too, lol) into something good and useful, something that will change my life for the better. I've immediately ordered a Trezor Hardware Wallet and it arrived today.

    ​

    screw you, bank.

    But that's not the end!!! Hodl on... I also want to say thanks to Reddit for providing the MOON token as of for the moment I'm unemployed because of some pandemic... the rest of the cash I've got from MOONs will really come in handy and will not be wasted on shitcoins, I promise.

    And to finalise, it wouldn't be a proper Thank You letter if I didn't gave something back.

    I have 3 promo codes for 10% off of Trezor products, I'm not sure if I can post the codes and links to the discount here so if you want one please, hit me up with a DM and I will be more than happy to share it with you for free.

    Stay bullish.

    ​

    TLDR: HUGE Thanks to everyone, I bought Cold Wallet with Moons, giving away 3 discount codes for Trezor for free.

    submitted by /u/theprodigy_s
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    help regarding EWT transfert to physical wallet

    Posted: 12 Nov 2020 03:20 AM PST

    Hello,

    I have some EWT on Liquid and i wish to transfert them over to my nano S ledger. Liquid informed me that they do not support hardware wallet and I will need to send them to coinbase and then to my ledger.

    I have installed the EWT app on my ledger and it told me that i needed to install ETH app before.

    When I try to receive funds on my ledger i do not have the EWT wallet to send the funds to, only ETH, BTC and XRP (app i have installed), even if i see the EWT logo installed on my ledger.

    My question is :

    After i send my EWT to coinbase, can i send my EWT to my ledger using the ETH wallet app ?

    submitted by /u/i_m_tired
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