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    Cryptocurrency Daily Discussion - November 20, 2020 (GMT+0)

    November 20, 2020

    Cryptocurrency Daily Discussion - November 20, 2020 (GMT+0)

    Daily Discussion - November 20, 2020 (GMT+0)

    Posted: 19 Nov 2020 04:12 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 The prior exemption for karma and age requirements is no longer in effect.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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    The government wants to see your crypto transactions. FINCEN and the Federal Reserve just proposed a new rule that would allow for more warrantless surveillance and that could make it more expensive and difficult to use crypto. They are taking comments now until the 27th, so make your voice heard.

    Posted: 19 Nov 2020 02:01 PM PST

    Ether Trades Above $500 for the First Time Since July 2018

    Posted: 20 Nov 2020 01:25 AM PST

    Rapper “Logic” Continues to Promote Bitcoin to 2.4 Million Followers on Twitter

    Posted: 19 Nov 2020 11:39 PM PST

    "Bitcoin is not a currency, nor is it a payment network. It is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don't have the option or desire to run their own hedge fund." - M. Saylor

    Posted: 19 Nov 2020 02:57 PM PST

    I recently read the article from Coindesk titled The Complete Case for $100K Bitcoin. wherein this quotation is referenced (towards the end).

    I really like this thinking and sort of statement. Obviously, CEO of Microstrategy, Mr. Saylor, sees a future wherein blockchain technology / distributed ledger technology is something like ubiquitous and authoritative. I, too, share that vision - as I'm sure many reading now do, too. Along with that, though, is a thinking outside of traditional and restrictive ideation. It's "untraditional" in so many words. Just because you've/we've/they've done something like that for a thousand years doesn't mean you can't or shouldn't do something like this now.

    submitted by /u/pale_blue_dots
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    Western Union Sucks; Crypto Doesn't

    Posted: 20 Nov 2020 12:35 AM PST

    Millionaires FOMO: 73% Will Own Bitcoin by 2022, Survey

    Posted: 19 Nov 2020 07:37 PM PST

    Bitcoin price doubles since the halving, with just 3.4M Bitcoin left for buyers

    Posted: 19 Nov 2020 09:16 PM PST

    If you want a WTF moment, this website lets you check how much you spent on Gas fees. Hint: It is a lot more than you think.

    Posted: 20 Nov 2020 01:56 AM PST

    Today I got the keys to my flat I bought with my Crypto gains (it's storytime boys!)

    Posted: 19 Nov 2020 05:57 AM PST

    I started in January 2017 with investing in Bitcoin and ETH. At this time Bitcoin was around 1200 dollars and Ethereum around 10 dollars. Ridiculous prices in comparison.

    I already wanted to invest in mid 2016 but really didn't know how to do it. After seeing Bitcoin more than doubling I figured out how and bought my Coins - only to see them lose 40 percent in value the next day because of some China Fud... 🤪

    The coming months I played around with wallets and coins while seeing the market explode from 17 billion to 800 billion dollars 🚀👩‍🚀🚀. Over the whole year of 2017 I ended up with Dash, Monero, Litecoin, BAT token, Golem, Binance token, Walton chain, Loopring, Red Pulse. In the end my biggest holding I bought over Bittrex in June 17 was NEO at this time still branded as Antshares. I decided to hodl it for one year to don't have to pay any taxes.

    In spring 18 I bought TKY vomitsinhismouth 🤢 and made very nasty gains with the Ontology token I bought with my remaining 1 1/2 BTC. I was greedy and stupid though. Saw my portfolio rise up to nearly half a million dollars around Christmas 17 and rode it pretty much down to 1/4 of it until summer 18 when I sold all my NEO tax-free after one year of holding on to it and had to pay additional taxes for all the trades in-between.

    It was pure greed to not sell while my portfolio was at it's highest points but I didn't wanted to give anything of these gains to the taxman (would have been 1/2 of it!🖕) and I thought that now I was on the brink of getting rich.

    I didn't become rich in the end but I could afford a small flat of 40 square meters in my city which was financed a big part by my Crypto gains - so I'am grateful. 🙏 Holding the keys in my hand today makes it real 👍🙂

    A few reminders though:

    • take crypto breaks - this stuff can really drag you down and even give you some kind of PTSD

    • sometimes it might rather pay off to realise gains even if you have to pay taxes

    • if it's too good to be true than you should become sceptical and not greedier

    • don't sell everything at once...

    • don't beat yourself up over bad decisions it's not always possible to be right

    • be grateful for what you have gained - it's all a game you just forgot to play...

    Today I barely hold any Coins but I will at some point DCA back into the big ones like Bitcoins and Ethereum.

    submitted by /u/Badeindi
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    Bitcoin Price Set to Surge in 2021 as US Dollar Expected to Fall 20% Even with Vaccine Rollout

    Posted: 20 Nov 2020 03:09 AM PST

    China state TV once again shills Bitcoin to millions upon rally to $18,000

    Posted: 19 Nov 2020 09:40 AM PST

    LTO Network announces File Authentication Manager for European Municipality

    Posted: 20 Nov 2020 04:33 AM PST

    Ethereum Flowing Out of Exchanges and Into Smart Contracts

    Posted: 20 Nov 2020 03:07 AM PST

    Strong outlook for the crypto market in South Korea

    Posted: 20 Nov 2020 02:09 AM PST

    Ether hits $500 for the first time since June 2018, outperforming Bitcoin YTD

    Posted: 20 Nov 2020 01:53 AM PST

    How RSK is bringing DeFi to Bitcoin

    Posted: 19 Nov 2020 04:11 PM PST

    Bank of England is rooting for cryptocurrency

    Posted: 19 Nov 2020 10:35 AM PST

    American Rapper Logic Buys $6M Worth of Bitcoin

    Posted: 20 Nov 2020 01:24 AM PST

    WeBull now allowing users to trade crypto with $0 commission fees!

    Posted: 19 Nov 2020 11:47 PM PST

    I’m convinced Hal Finney was Satoshi, here’s why

    Posted: 19 Nov 2020 06:14 PM PST

    Sorry about all the questions, but as I said this does seem to be a

    very promising and original idea, and I am looking forward to seeing

    how the concept is further developed. It would be helpful to see a more

    process oriented description of the idea, with concrete details of the

    data structures for the various objects (coins, blocks, transactions),

    the data which is included in messages, and algorithmic descriptions

    of the procedures for handling the various events which would occur in

    this system. You mentioned that you are working on an implementation,

    but I think a more formal, text description of the system would be a

    helpful next step.

    I appreciate your questions. I actually did this kind of backwards. I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper. I think I will be able to release the code sooner than I could write a detailed spec. You're already right about most of your assumptions where you filled in the blanks.

    Satoshi Nakamoto

    https://www.metzdowd.com/pipermail/cryptography/2008-November/014832.html

    If there was ever a thread that gave a hint it was this one. To me it seems like Hal wanted to distance himself from being the person associated. He seemed inquisitive but I think he was actually just asking himself the questions he had and then responding with answers as they came. Sort of brainstorming ideas while trolling the forum.

    "You're already right about most of your assumptions where you filled in the blanks"

    Pretty easy for Hal to be able to make correct assumptions about something he created.

    And the big question that gives it away.....Were Hal Finney and Satoshi ever in the same room?

    submitted by /u/ethereumflow
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    How Richard Heart tricked and deceived people invested in HEX

    Posted: 19 Nov 2020 08:19 AM PST

    1. Hex had an event called Big Pay Day. All the hex available to BTC holders as the snapshot day was being given out, since most BTC people didn't claim their Hex.
    2. To get into to the BPD, you needed to stake (lock up) your hex for at least until the day of the BPD, max stake is 15 years. Longer you stake, the higher your share of the BPD.
    3. A few days ago, the BPD payout to most people was about 3x their principal because only 18% of hex was staked. Most people assumed they would be getting at least a 2x on their principal as the amount staked was so low so their share was high.
    4. BPD just ended recently, the amount of Hex staked is now 98%.
    5. Richard has a huge stash of Hex owned by himself, although its not publicly admitted for legal reasons to do with securities and getting BTFO by the SEC. During the launch, you could exchange Ethereum for access to a daily pool of minted Hex, the amount you get based on how many other people are in the pool. Richard was recycling Hex into the AA over and over, so for example say I put 10 eth in- that goes to an address that RH can access. He takes my 10 eth, moves it to his own wallet, then puts it through the AA the same way I did. 10 eth goes back to his address, but this time he also gets a share of the daily Hex pool as well. He can do this as many times as he wants each day, nobody knows exactly how much he was doing it.
    6. RH probably owns between 50 and 70% of all Hex in existence because of this. He left it unstaked right up until the BPD so people thought they would get a bigger payout.
    7. He staked it at the last moment to get an enormous share of the BPD, so it went from a 3x return to a x0.3 return, from 18% hex staked to 98% hex staked.
    submitted by /u/-Saunter-
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    How to answer the "if the internet ever goes down" argument?

    Posted: 19 Nov 2020 08:40 PM PST

    What's up everyone. I am so damn excited I can finally fucking make posts in this subreddit because I recently got all my karma point up. Not quite as exciting as the day I got my first full bitcoin, but it's okay.

    I am just wondering what kinds of things you tell people about bitcoin (and cryptocurrency in general) regarding the whole argument of the internet ever "going down."

    Let's just be super crazy conspiratorial and say that there's a massive internet hack over the next few years - as Klaus Schwab says might be a possibility - how would bitcoin fair in this environment? What would happen to crypto?

    A while ago I thought there was some sort of bitcoin node running in space that would apparently keep bitcoin going if the internet over the entire world suddenly just went down. I thought it would keep things going and that when/if we ever fixed the internet and got it back up and running, that our little blocks of treasured code would still remain. But I was just trying to look into this a bit more and I came across this explanation of the blockstream satellite by Andreas - and it is my conclusion from this explanation that they do not have a full bitcoin node running aka if the internet "went down" this satellite wouldn't really do shit. Is this correct?? I lack technical knowledge of code and all that stuff so I'm just asking out of sheer ignorance and curiosity and I hope to learn something.

    I would love to hear what you all have to say about this. And I'm just talking about the hypothetical scenario; I don't want this to become a discussion on the likelihood of the internet going down or any of that shit because that wouldn't get us anywhere. Just the hypothetical situation in which the internet was down.

    After all, isn't the entire internet just held together by underwater cables in the ocean?? That almost seems as secure as the belief/trust that society has in little pieces of paper being the way in which the world exchanges value... ;)

    submitted by /u/walkonwayvs
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    When they tell you to invest in the stock market instead.

    Posted: 19 Nov 2020 04:05 PM PST

    Deutsche Bank: bitcoin used against inflation

    Posted: 20 Nov 2020 01:09 AM PST
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