• Breaking News

    Monday, November 23, 2020

    Home Unlabelled Cryptocurrency Daily Discussion - November 23, 2020 (GMT+0)

    Cryptocurrency Daily Discussion - November 23, 2020 (GMT+0)

    November 23, 2020

    Cryptocurrency Daily Discussion - November 23, 2020 (GMT+0)

    Daily Discussion - November 23, 2020 (GMT+0)

    Posted: 22 Nov 2020 04:14 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 The prior exemption for karma and age requirements is no longer in effect.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
    [link] [comments]

    Potentially one of the biggest news stories in crypto history, Andrew Yang rumored to be named secretary of commerce

    Posted: 22 Nov 2020 06:03 PM PST

    Decentralized insurance protocol Cover holds vote to cover Pickle hack

    Posted: 22 Nov 2020 08:37 PM PST

    Paypal Bought 70% of All Newly Mined Bitcoin Last Month as Demand Rockets | News Bitcoin News

    Posted: 22 Nov 2020 07:29 PM PST

    Welcome to Newcomers + Beginner Resources

    Posted: 22 Nov 2020 04:17 PM PST

    With bitcoin nearly reaching all-time highs we are seeing a lot of renewed interest in cryptocurrencies. There is a lot of newcomers to the space and I want to remind everyone to be helpful and welcoming to them. I joined this sub and bought my first coins during the last big bullrun in December 2017. I remember how lost I felt when I first joined.

    If you are new to the sub, WELCOME!! If you have any questions you can make a text post (if you have 500 comment karma) or post a comment in the daily discussion thread that is pinned daily to the top of the sub. There are many knowledgeable users here who will be happy to answer your questions or give advice. There is a list of beginner resources below. If you know of any other resources or would like to add anything to the list below, please leave a comment and I will add it to the list (Nothing with Referral Links Please).

    Here are some things newcomers should watch out for that I have learned during my time here:

    • Don't put in more money then you are comfortable losing. There have been many large drops in bitcoins history and some even larger ones for alts. Some of the alts I bought a few years ago are still -90% from the ATH. Cryptocurrencies are still very volatile. If a big drop in prices will cause you financial stress you should reconsider your position. Here is a screenshot from my old portfolio from 2017-2018. If I had not bought anything since, I would still be down roughly 20% and was down well over 50% at one point even with half of my holdings in bitcoin.

    • Most, if not all reputable exchanges require KYC, which is the process of verifying your account. This is a common practice, but make sure you are signing up to a reputable exchange. You need to trust these people with your personal data and identity. There is most likely a waiting period to get verified on exchanges so be patient. Stick to the larger more reputable exchanges such as Kraken, Coinbase, Gemini or whatever exchange is reputable in your local area. Don't make hasty decisions when it comes to choosing an exchange. Watch out for scam exchanges that offer lower then spot rates and have no KYC you may see advertised on social media.

    • Do not base your decisions off price alone. Some peoples first instinct is to buy coins that are under a dollar thinking they will someday be valued at the same price in dollars as bitcoin. Marketcap is a much better metric to determine if a coin is over-priced or not. Market cap is the price of the coin times the number of coins in circulation. Some coins are cheap because they have literally billions of coins in circulation but still have a massive marketcap. XRP is a good example of this. I would suggest sticking to BTC and ETH until you understand the market better.

    • Be very weary of trading groups. These groups mostly exist to dump on the people they give the signals to. These groups were very prevalent last bullrun. They load up on a low-cap alt with low liquidity, signal a pump to the followers, then dump on them as they buy in.

    • Scammers. Everywhere in this space is scammers waiting for you to make a mistake and steal or trick you into sending them your coins. Consider everything a scam until you can prove otherwise. Do not make any hasty decisions. The term "if its too good to be true it most likely is" really holds true in this space. Watch out for fake support staff trying to trick you into revealing your private keys or mnemonics and You-tube videos offering to double your bitcoin. There is no such thing as free money (unless you got the uni airdrop 🦄). Be especially careful on social media sites like twitter, facebook and discord.

    • Watch out for phishing websites when doing google searches. Scammers will often use special characters to make the domain look similar to the real domain. If the site is one you visit often save a bookmark to that site instead of using google search.

    • Mining these days is mostly a waste of time unless you have the newest equipment and very cheap source of electricity. Watch out for cloud mining schemes as these will become very unprofitable as the mining difficulty rises. These are targeted at newcomers who do not know how mining works and the contract will run way longer then it's profitable.

    • Consider picking up a hardware wallet if you have a good amount of coins. These are highly recommended by users of this sub and for good reason. Hardware Wallets will offer a much higher level of protection then software wallets and are very user friendly. Trezor and Ledger are the two most popular models. Keep your 24 words safe in a secure offline location. If you forego getting a HW wallet, make sure the device you use is free of malware and viruses. Do not save backups of private keys in plaintext on your computer.

    • Use good two-factor authentication wherever possible. SMS 2FA is not good enough. You can search all the horror stories of people who have had their exchange accounts hacked because they only had SMS 2FA and got sim-swapped. TOTP 2FA such as Google Authenticator or AUTHY are much better solutions or if you want to go even more secure get a hardware key like yubikey. Do not re-use common passwords, consider using a password manager like 1password or lastpass as these will also help mitigate phishing attacks because they will only input your password if you are at the correct domain.

      Beginner Resources

    • /r/bitcoinbeginners

    • https://bitcoin.org/en/getting-started

    • https://ethereum.org/en/what-is-ethereum/

    • https://blockgeeks.com/guides/

    • https://www.lopp.net/bitcoin-information/getting-started.html

    • https://academy.binance.com/en

    • https://www.kraken.com/en-us/learn

    • https://www.edx.org/learn/cryptocurrency

    • https://nakamoto.com/beginners-guide-to-defi/

    • https://trading-education.com/guide-to-stablecoins

    • Coinbase: Beginner's Guide to Decentralized Finance

    • Beginner's Guide to MetaMask

    • What is DEFI?

    • Beginner's Guide to (Getting Rekt by) Impermanent Loss

    • Ledger 101: Do You Really Need a Hardware Wallet?

    • Guide to Cryptocurrency Security

    • Glossary of Cryptocurrency Terms

    • aantonop: Bitcoin for Beginners

    • Intro to r/Cryptocurrency MOONs

    submitted by /u/Mcgillby
    [link] [comments]

    What’s you #1 pick for 2021?

    Posted: 22 Nov 2020 07:24 PM PST

    Please don't delete this mods, this is meant to be fun and slightly educational. Curious what everyone's top pick is for the next 12 months. I don't care why or how, just post the ticker, nothing else.

    Hopefully this is enough text to pass through the ridiculous auto-mod.

    Edit: I don't care about moons, I'll give all mine to top comment. Just don't let the snowflakes downvote this to oblivion!

    submitted by /u/00100101011010
    [link] [comments]

    Bitcoin Price Set to Surge in 2021 as US Dollar Expected to Fall 20% Even with Vaccine Rollout

    Posted: 22 Nov 2020 04:40 PM PST

    We have reached 50% of the staking threshold towards launching Ethereum 2.0 mainnet!

    Posted: 22 Nov 2020 10:02 AM PST

    264,544 ETH already staked and counting.
    The eth2 network needs to reach at least 524,288 ETH, 16,384 validators, to launch the mainnet.
    Read more about staking here: https://launchpad.ethereum.org/

    submitted by /u/NinjaDK
    [link] [comments]

    Hardware-Grade Security to Mobile Cryptocurrency Portfolios

    Posted: 23 Nov 2020 02:30 AM PST

    With BTC close to 20k, investors are looking into a potential 5x from here going into the next cycle. This is where the multiples on altcoins become attractive.

    Posted: 22 Nov 2020 09:11 PM PST

    At 20K and beyond BTC will be keep being pumped mostly by institutional money flowing in. Those are veteran investors and they prefer the proven track record of bitcoin as a hedge for their money against the growing inflation of the dollar.

    Mid-scale investors will look for other projects that outlived the 2018-2020 bear market and still have active development, good technology that will shape the future. Those projects are still ways away from ATHs and can probably see a 100x (maybe)

    Crypto veterans same thing. They are risk takers. A lot is still on the sidelines in tether or other stable coins and i would bet that a large chunk of this will be going into solid altcoins instead of BTC

    submitted by /u/miharbidaddah
    [link] [comments]

    $20 Billion in Crypto Under Custody: Coinbase Sees 'Explosion of Capital' From Institutional Investors

    Posted: 22 Nov 2020 03:35 PM PST

    I'm hosting a Rocket League 1v1 tournament with a $50 cryptocurrency prize pool

    Posted: 23 Nov 2020 03:10 AM PST

    I'm hosting it on Playmo.gg here:

    https://playmo.gg/game/502

    If you'd like to join, you can get a free ticket code by commenting on my post in /r/playmo:

    https://np.reddit.com/r/playmo/comments/jz5vlm/rocket_league_1v1_50_prize_pool_november_27th_5pm/

    That post also has most of the information you'll need, but feel free to ask questions if you have any. Hope to see some of you there =)

    submitted by /u/AD1AD
    [link] [comments]

    Are there crypto mentors? I think I need one.

    Posted: 22 Nov 2020 04:36 PM PST

    So, due to some unavoidable circumstances and bad investments etc, I've got next to no retirement. And I'm 50. I keep trying to get into this and I follow this sub, but a lot of the terminologies are alien to me and I don't really know where to start. I plan on investing a little every month and I need to know where to start. I kinda want someone to hold my hand explain the hows and whys, and give me an idea how to differentiate between shitcoins, promising coins, and blue-chip stuff. I have a bittrex account and trade back and forth once in a while. When I see something trending.

    I feel like I'm a little late for the show on bitcoin, but wanna get involved.

    Are there any reputable teachers, mentors, learning courses etc?

    submitted by /u/ThisGuyNeedsABeer
    [link] [comments]

    Bitcoin reaches front page of WSJ

    Posted: 23 Nov 2020 03:35 AM PST

    Mining On the Go with my Idena

    Posted: 23 Nov 2020 03:13 AM PST

    Bitcoin Is Less Volatile Than Many S&P 500 Stocks

    Posted: 22 Nov 2020 06:09 PM PST

    World Economic Forum Selects Elastos Foundation for Global Innovators Community

    Posted: 22 Nov 2020 05:49 PM PST

    Cardano: Is the rally about to continue?

    Posted: 22 Nov 2020 11:26 PM PST

    John Lennon's Son Says Bitcoin ‘Empowers’ People Like Never Before

    Posted: 23 Nov 2020 01:26 AM PST

    Privacy coins no more? CipherTrace files patents for tracing Monero transactions

    Posted: 22 Nov 2020 03:44 PM PST

    Just over two years ago, "Dr Doom" Roubini said crypto was in a stinking meltdown, and its poor movements vs stocks were evidence of this. I wonder what he has to say now?

    Posted: 22 Nov 2020 05:14 PM PST

    Questions for Australian crypto owners

    Posted: 23 Nov 2020 01:36 AM PST

    I'm wanting to buy some crypto. It looks that coinspot is the best option for now, I'm just wondering about storage mostly.

    I'd prefer to do a paper wallet, but haven't got a working printer right now. Can I simply write down my keys or is the QR necessary?
    Otherwise, what wallets are best for Aus? I'm considering using Trust.

    I mainly want strong security and cheap/free trades for preference.
    Cheers legends

    submitted by /u/m8Idunno
    [link] [comments]

    Don't be this guy. 2 years ago today he wrote this...

    Posted: 22 Nov 2020 08:14 PM PST

    Wall Street’s Biggest Dogs All Need Bitcoin for the Upcoming Years

    Posted: 23 Nov 2020 01:12 AM PST

    GoDaddy Employees Used in Attacks on Multiple Cryptocurrency Services

    Posted: 22 Nov 2020 08:33 PM PST

    liquid.com, Bibox.com, Celsius.network, and Wirex.app affected. Most of these services prevented an attack from accruing.

    Fraudsters redirected email and web traffic destined for several cryptocurrency trading platforms over the past week. The attacks were facilitated by scams targeting employees at GoDaddy, the world's largest domain name registrar, KrebsOnSecurity has learned.

    https://krebsonsecurity.com/2020/11/godaddy-employees-used-in-attacks-on-multiple-cryptocurrency-services/

    submitted by /u/ndreamer
    [link] [comments]

    Morgan Creek CEO Says Bitcoin Doing ‘Extremely Well’ Due to Fed Reserve’s Dollar Devaluation

    Posted: 22 Nov 2020 12:46 PM PST
    Read more
    at

    No comments:

    Post a Comment