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    Cryptocurrency Daily Discussion - November 3, 2020 (GMT+0)

    November 03, 2020

    Cryptocurrency Daily Discussion - November 3, 2020 (GMT+0)

    Daily Discussion - November 3, 2020 (GMT+0)

    Posted: 02 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 The prior exemption for karma and age requirements is no longer in effect.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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    PayPal plans a much wider embrace of cryptocurrency, including Venmo use

    Posted: 02 Nov 2020 04:17 PM PST

    LOL Centralised Shitcoin! TRON has attacked and block production halted. Entire network was halted by one "super delegate"

    Posted: 02 Nov 2020 06:22 AM PST

    $100 M of Tether Swapped from Tron Network to Ethereum Blockchain

    Posted: 03 Nov 2020 02:09 AM PST

    Bitcoins Price at the 2016 US Elections was $709

    Posted: 03 Nov 2020 03:39 AM PST

    HSBC Bangladesh uses blockchain to import 20,000 tons of fuel oil from Singapore

    Posted: 02 Nov 2020 10:16 PM PST

    PayPal CEO: Only 10% of Clients Have Access to Crypto Services, There's a Waiting List

    Posted: 03 Nov 2020 01:14 AM PST

    MicroStrategy now owns half a billion worth of Bitcoin

    Posted: 02 Nov 2020 10:47 AM PST

    Paypal plans to enable crypto to be used across 28 Million Merchants!

    Posted: 03 Nov 2020 03:16 AM PST

    PayPal's Q3 earnings call concluded, and as they had announced crypto features, analysts were excited about this offering and PayPal announced lots of new plans they have for crypto:

    1. Biggest one imo: Paypal says they have their NYDFS BitLicence and they enable crypto to be used as a funding option to shop across all 28 million merchants! CEO says this will fundamentally bolster the use of cryptocurrencies.

    Quote from Dan Schulman, Paypal's President and CEO:

    Enabling somebody who holds a cryptocurrency in a PayPal account to instantaneously transfer that crypto into fiat currency at a step rate, so volatility is taken out of the equation, no incremental fees charged for them to do that transaction from crypto into a fiat. And then immediately settle in fiat with all $28 million of our merchants at our current take rates and so you have no additional integration needed at any of our merchants. And this is just an elegant way of using cryptocurrencies as a funding mechanism.

    Paypal says this has a lower cost for them compared to funding accounts with NACH, etc.

    1. Paypal plans to dramatically change how people use both paypal as well as venmo. Crypto seems to be a big part of this. Venmo will get crypto features in the first half of 2021. Paypal will also expand internationally and enable crypto across different geographies.

    2. They have only rolled out crypto to 10% of users, but even among these users they have seen more interest in people opening the apps just to check the prices:

    Now we've only rolled this out to 10% of our base. We did that a couple of days ago, but our waiting list was 2 times to 3 times of what our expectations were. We're going to take up our $10,000 limit per day to $15,000 per day based on the demand that we're seeing and we'll roll out to 100% in the U.S.

    We're seeing people who've already bought crypto, open their wallets several times a day to check on what's happening with their crypto investments.

    1. Regarding Crypto as a whole, and CBDC's:

    My conversations with central banks, with the regulators, with a number of folks in the crypto field, there's no question that digital currencies are going to be rising in importance, having increasing functionality and increasing prominence. CBDCs, from my perspective and all my conversations, are a matter of when and how they're done, not if. And I think that our platform, with its digital wallets and the scale that we have right now, can help shape the utility of those currencies.

    Full transcripts: https://www.fool.com/earnings/call-transcripts/2020/11/03/paypal-holdings-pypl-q3-2020-earnings-call-transcr/

    submitted by /u/DetroitMotorShow
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    Brave Browser: Number of monthly users increases 130% in 1 year

    Posted: 02 Nov 2020 12:35 PM PST

    Bitcoin mining difficulty posts biggest drop since ASIC era

    Posted: 03 Nov 2020 01:07 AM PST

    Ripple, PayPal, and Twitter join coalition calling for fair elections

    Posted: 02 Nov 2020 06:23 PM PST

    PayPal crypto services to go global early 2021, support for CBDCs coming

    Posted: 02 Nov 2020 05:25 PM PST

    Bitcoin’s Mining Difficulty Sees Second Largest Drop in History

    Posted: 03 Nov 2020 03:25 AM PST

    Bitcoin bull Jack Dorsey to keep role as Twitter CEO following board review

    Posted: 03 Nov 2020 01:10 AM PST

    Ive been trying for 3 days to buy bitcoin in Canada. Seems like impossible.

    Posted: 02 Nov 2020 11:11 PM PST

    So ive been trying for 3 days to buy bitcoin. First stop Coinbase. Already have an account and already bought from them via credit card. Ok so they dont take credit card anymore, or atleast my credit card. Try debit card, they dont take it aswell.

    Next stop: Bitbuy.ca Apparently a big site in canada to quickly buy crypto. Good, make an account, add funds via interact e-transfer. They give me all the info needed for the e transfer and couple hours later my bank says the e transfer was accepted by bitbuy.ca. I wait.. 24hrs later. Still 0$cad in my bitbuy account I contact them. Thet say they dont have the payment. I contact my bank and then interact themself, they both says payment went thru.

    Ok so wtf is going on there idk. But i cant wait no more. I want some more bitcoin before election but i cant get some. I check over at paypal canada but i dont think they offer crypto yet. Or atleast i couldnt find it.

    Any1 has a GOOD canadian site where i can buy BTC in less than 12hrs.

    Should be simple, no??? Is this 2014 or 2020. Not sure at this point.

    submitted by /u/DontGiveMeGoldKappa
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    Brave Hits 20 Million Monthly Users!

    Posted: 02 Nov 2020 05:49 PM PST

    8 Things You Need To Know About The Dark Side Of The World's Biggest Banks, As Revealed In The FinCEN Files

    Posted: 02 Nov 2020 12:15 PM PST

    Ubisoft-backed Blockchain RPG Lets Players ‘Fork’ the Game

    Posted: 02 Nov 2020 08:42 PM PST

    PayPal Raises Crypto Buying Limit to $15K/Week for ‘Eager’ Customers

    Posted: 02 Nov 2020 11:50 PM PST

    Potential pricing model for purchasing/selling banner advertisements in this sub

    Posted: 02 Nov 2020 07:23 PM PST

    This post was stickied by the mods a while back on how to generate demand for moons, with one of the main ideas being to follow Ethtrader's banner ad.

    If you go to Ethtrader in new reddit you'll see at the top their banner is available to purchase in their native community points token donuts.

    The pricing model they adopted is a variant of a Harberger tax system dubbed the hamburger tax system:

    • The person who buys it sets the daily ad price. They can purchase multiple days of banner ad time at a time.

    • Anyone can purchase it from them with their Subreddit Points for the price that they set.

    • The person who has the top banner pays a tax on it (10% of the one day banner price, daily) for keeping the banner. Set the price too high, the more the owner pays in tax. Too low, and someone may buy it immediately.

    • If no one else buys the banner space while the current owner control it, their banner continues to be shown until the amount they deposited for the banner purchase is deplenished.

    • The owner cannot refuse the purchase if a buyer pays the price set by the owner.

    • When users buy the banner from another user, points go to the original owner it was bought from.

    • Tax is burned.

    You can read more about it in the wiki for donuts

    We could adopt a similar model, or just make it a flat cost that lasts for a set amount of time such as:

    10,000 moons for 24 hours

    submitted by /u/nanooverbtc
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    Venezuela to Incorporate Bitcoin into Remittance Platform

    Posted: 02 Nov 2020 05:37 AM PST

    Moon farmers Ganged Up

    Posted: 02 Nov 2020 09:01 AM PST

    Today I have seen this Pinned post in r/ethtrader community by one of their mod discussing that these gang farmers are in all 3 communities which are distributing rewards, and have a discord channel to coordinate it.

    https://np.reddit.com/r/ethtrader/comments/jlw7fn/poll_proposal_new_rule_in_response_to_donut/?utm_source=share&utm_medium=web2x&context=3

    So it's pretty right that even in r/cryptocurrency there are some gang farmers out there but how are we gonna tackle them?

    In my opinion, Reddit has to develop some algo that if the same users are upvoting them continuously just right after posting something here should be removed,

    and r/cc can also introduce rule like if a person has at least 500 comment karma in this sub can post something.

    What are your thoughts on this.

    submitted by /u/salil19
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    Findings from the Grayscale's 2020 Bitcoin Investor Study - Blockala

    Posted: 02 Nov 2020 11:58 PM PST

    From $14K to $4 Billion: DeFi King Uniswap Marks 2 Year Anniversary

    Posted: 02 Nov 2020 11:13 AM PST

    Vote to Add MOONs to Blockfolio

    Posted: 02 Nov 2020 08:32 AM PST
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