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    Cryptocurrency Daily Discussion - November 30, 2020 (GMT+0)

    November 30, 2020

    Cryptocurrency Daily Discussion - November 30, 2020 (GMT+0)

    Daily Discussion - November 30, 2020 (GMT+0)

    Posted: 29 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 The prior exemption for karma and age requirements is no longer in effect.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
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    I am now bald, thanks to bitcoin

    Posted: 29 Nov 2020 11:09 PM PST

    I wish it was a parody post but it isn't.

    So back in September 2018 I had a nice thick luscious head of hair. Fast forward 2 years and after all these ups and downs and FUDs and bears I now have nothing but a gray toilet bowl rim of frail wiry hair left.

    But I still HODL, not on to my hair though!

    submitted by /u/send_nipples
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    $275bn+ Hedge Fund Guggenheim Considers $500 million Bitcoin Investment The investment firm could invest up to $500 million of investors’ cash in the cryptocurrency.

    Posted: 29 Nov 2020 06:25 PM PST

    Niall Ferguson, most respected financial historian alive: Rather than seeking to create a Chinese-style digital dollar, Biden should integrate Bitcoin into US financial system (full piece)

    Posted: 29 Nov 2020 11:53 PM PST

    Warning about buying BTC with Moonpay

    Posted: 30 Nov 2020 12:12 AM PST

    If you're looking for a way to buy Bitcoin, I suggest that you avoid Moonpay and go with someone more reputable.

    I submitted a buy order for Bitcoin on Friday (for only 250USD) using Apple Pay.

    They contacted me saying

    The last order failed as you have not verified your Apple Pay payment card as per our request. We have asked you to upload a photo of you holding your physical card registered with Apple Pay next to your face and a screenshot of your Apple Pay page showing the last 4 digits of the card number and the Device Account Number.

    IMO this is crazy. They want a selfie of me holding the card and giving up the full card info. Apple Pay protects the customer by masking your details, so this completely bypasses the privacy protection. They also don't mention how they store your data.... this could turn into another Ledger database hack.

    After I didn't provide this information, they then cancelled my buy order, missing the price increase. Thanks, Moonpay! (not).

    Beware.

    submitted by /u/danieljin1234
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    Former Goldman Sachs Exec Raoul Pal Now Going All-in Crypto

    Posted: 30 Nov 2020 01:16 AM PST

    How much of your wealth is in crypto?

    Posted: 30 Nov 2020 01:25 AM PST

    I'm 27, unemployed, and living in a country I can't legally work in. I have 80% of my money invested in this. Its not much anymore.

    I started putting money into various coins around march 2020 while I was employed and have since made the money I invested triple. And have since resorted to using it for bills.

    Degenerate gambler reporting in. Albeit marginally successful.

    Using coingecko, reddit posts, without any experience in any financial market other than the black market, and avoiding ico shitcoins I've managed to pay by bills, fix my teeth, and eat.

    Down to my last 1500 usd.

    Time to Yolo for the bills.

    Stonks are fucked, fiat is kill.

    Bullgang

    Edit: thanks for the award. That makes this my most successful post to date. Lol. Thank you for the support.

    submitted by /u/killerkaysee
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    Visa CEO Alfred Kelly: ‘We Are Very Interested in Cryptocurrencies’

    Posted: 29 Nov 2020 02:21 PM PST

    "We are living through a monetary revolution so multifaceted that few of us comprehend its full extent." || Bitcoin Is Winning the Covid-19 Monetary Revolution ||

    Posted: 29 Nov 2020 05:00 PM PST

    Pizza Hut Venezuela Now Accepts Crypto Payments

    Posted: 30 Nov 2020 01:06 AM PST

    More than $500 million of Ethereum has been staked, Eth2's Phase 0 launch tomorrow!

    Posted: 30 Nov 2020 03:29 AM PST

    Respected Financial Historian Calls for Bitcoin Integration into U.S. Financial System

    Posted: 30 Nov 2020 01:38 AM PST

    Pagi's charging station enables the efficient use of pay-per-use thanks to the use of dlt / blockchain technology. Simply pay exactly for what you use.

    Posted: 30 Nov 2020 01:52 AM PST

    Pizza Hut to accept crypto in all its stores in Venezuela

    Posted: 29 Nov 2020 12:27 PM PST

    Why doesn't anybody warn people that Changelly is a scam...

    Posted: 29 Nov 2020 01:36 PM PST

    It's a site that allows you to set up and account and put money into it. Once you try to do a withdrawl they ask you to verify yourself. If the verification comes from a country they don't approve of, they hold your funds and there is no recourse. They also don't list the countries which you cannot be from before you sign up.. UPDATE: WOW, someone gave me $5 in XRP for my kind post!!!!!!

    submitted by /u/Throwawayiea
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    What are your top picks for bull run '21?

    Posted: 29 Nov 2020 11:32 PM PST

    In December of 2016, BTC surpassed it's previous ATH of $7xx and over the next year, set several new ATHs... News coverage and hype started picking up about 8 months later with peak hype in December of 2017. During that time, there was an amazing alt season in which other cryptocurrencies finally got some attention. Assuming a similar scenario playing out over the next year, likely exasperated by the nearly non-existent barrier of entry compared to then(PayPal, Cash App, Robinhood, etc) what alt coins do you see stealing the show in 2021 similar to the ETH/XRB(NANO)/TRX/XRP pumps then? What tech/use case/reasoning supports your theory?

    Tldr - what is your alt coin moon mission and why?

    submitted by /u/ElmerFUDz
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    TwitchPlaysCryptoMarket goes live today. Use the chat to vote on what gets bought or sold every 5 minutes. Starting with $2200 USD lets see what the Twitch portfolio will be worth in weeks/months.

    Posted: 29 Nov 2020 08:44 AM PST

    Hi everyone. Starting in 15 minutes or so TwitchPlaysCryptoMarket will go live.

    Type chat commands (!buy BTC, !buy ETH, !buy XRP, !buy ADA, !sell BTC, !sell ETH, etc) to cast votes. Every 5 minutes the asset with the most votes will have $20 USD bought (minus trading fees)

    Check out the stream and schedule here: https://www.twitch.tv/twitchplayscryptomarket/schedule

    Look at the stream About tab for more.

    Lets see what the community can do. Will it be a nice balanced portfolio or trolls buying a bunch of dead coins (please be kind). Will big gains be sold back into USD at the top? Let's find out.

    Please consider following as I need to become a twitch affiliate to earn money and de-risk a little.

    Edit: Update #1 Just finished the first 4 hour stream. Thank you to all that attended. Check the link to the schedule for the next stream.
    Check out the TwitchPlaysCryptoMarket portfolio here: https://coinstats.app/p/yZQbdo

    submitted by /u/dopeturtle1
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    "Bridge' has millions of players worldwide, Jelurida is putting it on the blockchain

    Posted: 29 Nov 2020 04:33 PM PST

    'Black Friday' BTC sale officially over? 5 things to watch in Bitcoin this week

    Posted: 30 Nov 2020 12:47 AM PST

    Bitcoin mining difficulty approaches ATH as price stabilizes above $18K

    Posted: 29 Nov 2020 04:52 PM PST

    Is crypto trading the modern form of Forex?

    Posted: 30 Nov 2020 01:24 AM PST

    I'm new to crypto and I've been researching on the INVESTMENT PLANS and what major investors are doing in crypto world, it includes digital currency associated with blockchain technology but as for the investment people like Warren Buffett consider it as a bubble which eventually will have a bad ending.

    Now I know buffet is a pretty old dude and I understand what he might be thinking when he says -

    "Crypto dosent produce anything"

    • and I respect that but since he had a major part of his investing in forex! where we deal with government currency is there a chance we can use (if not all) SOME tactics of forex trading into crypto and see if it works or not? I mean what if it IS a investment like forex? and maybe we aren't just looking on it properly?
    submitted by /u/J_S_artboy
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    Where to start if you are looking to invest 1k a month in crypto?

    Posted: 29 Nov 2020 02:05 PM PST

    Finally graduated and making enough money to invest. I'd like to set aside roughly $1k a month into crypto. This is money I'm alright with loosing but would love if it have a chance of making money down the road. Where would you start if you were new to crypto for basic knowledge and investing strategies/advice? Thanks for the help!

    submitted by /u/NotADrJustADentist
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    Comparing Reasonably Private Spends in Bitcoin, Monero, and Zcash

    Posted: 29 Nov 2020 11:33 PM PST

    How does staking increase the price

    Posted: 29 Nov 2020 08:30 PM PST

    I keep seeing a lot of posts about ETH 2.0 coming out today and people commenting stuff like "staking is going to make it moon". But I do not fully understand.

    Isn't staking just "locking" the tokens you already have for a small % reward? Surely this is like mining bitcoin, when the payouts happen people will sell for their monthly expenses?

    And also on staking... isnt tat just pyramid.

    submitted by /u/pmayall
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    How to create a 24-word Seed Phrase using Dice and Linux Command-Line

    Posted: 29 Nov 2020 06:27 PM PST

    Disclaimer: This is for educational purposes only.

    This is the revised version of a post I made several months ago. It no longer requires the python scripting to derive the checksum which has removed several steps and made the process much more streamlined. There is only 2 commands used now, bc or basic calculator which is a utility built into linux and the shasum command to derive the checksum. Everything you need (besides dice) is built-in to tails or whatever linux distro you choose.

    Besides the entropy source, this is basically the same process your hardware wallet uses to pick your 24 words. Popular Hardware wallets have a built-in TRNG (True Random Number Generator) that is certified by a third party. The TRNG chip generates the random binary needed to create the seed. Instead of trusting the TRNG chip to generate the random binary we are going to use dice instead. You could also use a coin if you want to flip and record 256 flips. If you do that you can go straight to step 11.

    The BIP39 dictionary contains 2048 words, each of these words represents 11 binary bits (0 or 1). To create our own mnemonic we start by generating 256 bits of random binary then calculating the rest of the checksum.

    The entire process will be done only using the standard terminal built-in to tails (and other linux distros). All base converisons will be done in the linux terminal using the 'bc' or Basic Calculator command. Calculating the checksum will use the shasum command.

    This is for educational purposes to learn how bip39 mnemonics work and the checksum are derived. I highly suggest not using seeds derived using this or similar methods to protect funds unless you are 100% sure you know what you are doing.

    Tools needed:

    • Set of Casino Grade Six-Sided Dice
    • BIP39 Wordlist (MUST BE NUMBERED 0-2047)
    • USB stick w/Tails Linux Distro

    Create BIP39 Mnemonic with Dice

    • Step 1 - Download Tails onto a USB stick. Follow instructions on the tails website. You can validate tails using the extension or manually. Boot from the live USB, be sure to turn network connection to "offline" before starting tails. (click the + sign and it is one of the few options) IMAGE

    • Step 2 - Open the built-in text editor: IMAGE

    • Step 3 - Roll your 99 dice rolls recording each roll in the text editor with no spaces between the numbers.IMAGE

    • Step 4 - You can check the number of rolls input by going to document statistics. Click the 3 bars to the right of the "Save" button. It will be under "Tools". Make sure there is no additional spaces. IMAGE

    • Step 5 - Convert the dicerolls into base6. To do this simply turn all the 6's into 0's. You can use "Find and Replace" function of the text editor to achieve this. IMAGE IMAGE

    • Step 6 - Open the terminal IMAGE

    • Step 7 - Convert the base6 string into binary. We use "bc" or basic calculator which is a built-in command line function. We are converting into base2 from base6. (replace [diceRolls] with your 99-digit base6 string) IMAGE

      echo "obase=2;ibase=6;[diceRolls]" | bc

    • Step 8 - Paste the binary output into a new tab in the text editor. (to copy/paste in the terminal you need to hold ctrl+shift c to copy or ctrl+shift v to paste) IMAGE

    • Step 9 - Remove the backslashes and extra spaces from the binary string. It should be a solid string of 0's and 1's with no extra spaces at the end. IMAGE

    • Step 10: - Check the length of the binary string using document statistics. In order to calculate a checksum the binary string must be exactly 256 characters. If the resulting binary is less then 256 characters, then add zeroes to the start of the string until it is 256 characters. This is called padding. IMAGE IMAGE

    • Step 11: - Calculate the checksum by hashing the 256-bit binary from the previous step using the shasum command. The first 2 hexadecimal characters (8-bits) of the resulting sha-256 hash "9C" will be the checksum. IMAGE

      echo [binary] | shasum -a 256 -0

    • Step 12: - Convert the 2 hex characters into binary using the bc command. The hexadecimal input for this step MUST BE capitalized or the result will be 0 or error. In the above example the first 2 characters from the sha256 hash are 9c. So we use 9C as the input for base conversion. echo "obase=2;ibase=16;[hex]" | bc (replace [hex] with the first 2 characters given back from the previous step. Make sure to capitalize any letters). If the result is less then 8 bits, add zeroes to the start. Example: 2C would equal "101100" in binary which is only 6-bits. In this case add 2 zeroes to the start to make "00101100", IMAGE

    • Step 13: - Concatenate (add to the end) the 8-bits of binary from the previous step to the existing binary string from step 10. Check to make sure the resulting binary is exactly 264 characters using document statistics. IMAGE

    • Step 14 - Split the 264-bit binary into equal 11-bit chunks. There should be exactly 24 groups of 11 bits. IMAGE

    • Step 15 - Convert each group of binary into a decimal number using the terminal. Do this for all 24 binary strings. (press the up arrow to access previous terminal commands) IMAGE

    • Step 16 - Look up the numbers in the BIP39 wordlist. Make sure the wordlist in zero-indexed meaning it begins with 0 and ends with 2047. This is your 24-word seed which can be used with any BIP39 compatible wallet. Take care to properly wipe the USB device after use. IMAGE

    Picture Album - https://imgur.com/a/evzgPfK

    submitted by /u/Mcgillby
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    Record gold outflow 'isn't going into ripples' — only Bitcoin, says fund manager

    Posted: 30 Nov 2020 02:56 AM PST
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