Cryptocurrency Hello! We're the team behind Wall Street Magnate, a real-time market trading platform featuring live simulated cryptocurrency trading. Ask Us Anything! (Today, Nov. 12 at 6 PM EST) |
- Hello! We're the team behind Wall Street Magnate, a real-time market trading platform featuring live simulated cryptocurrency trading. Ask Us Anything! (Today, Nov. 12 at 6 PM EST)
- Daily Discussion - November 13, 2020 (GMT+0)
- A sign from the Crypto lord
- PayPal Removes Waitlist for New Crypto Service! FOMO about to kick in
- PayPal now lets all US users buy, sell and hold cryptocurrency The company plans to bring cryptocurrency into Venmo next year.
- Made a bet 2 years ago with my Brother...
- 4.20 BTC is now equal to $69K USD
- Fighting back against the downvoters! Your sub needs YOU
- Common fallacies in crypto trading
- Russian lawmakers are proposing that citizens be imprisoned for up to three years if they fail to declare to the tax authorities their crypto holdings.
- Why is LBRY, supposedly a “decentralised” video hosting platform based on cryptocurrency, censoring content ?
- Bitcoin Price Breaks $16,000 in Sudden Burst Upwards
- The short story of Dummy Le Dumbdumb: an educational cautionary tale.
- Petition to remove Auto-mod comments on posts:
- The Bitcoin price has only been higher than now for 12 days in its history
- First, Sun gave a birth to many species on the Earth, Then Sun helped crypto-miners. Learn more about mining with the solar energy in Australia.
- Deja Vu Anyone???
- The top two financial apps in the Apple App Store sell bitcoin, and the third will next year
- bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6. What is the deal with the US DOJ's 69,369BTC Wallet?
- Its finally happened - new retail are now started to enter this space
- Stellar-based Akoin can now be used to pay for groceries and gas in Kenyan city
- All Eligible PayPal Account Holders In The U.S. Can Now Buy And Sell Bitcoin
- Total Value Locked in DeFi Hits $13.6 Billion
- Total number of DeFi users up 55% in past six weeks
- Andreas Antonopoulos Introduces Monero
- QUICK RECAP: How Much The Bitcoin Landscape Has Changed Since the First $16,000 Runup in December 2017
- ‘Bitcoin Undo’ Button Comes to Ethereum Blockchain
| Posted: 12 Nov 2020 12:07 PM PST Hello! We're Laurence, Lewis, Jake, and Mike, and we run Wall Street Magnate (WSM). Ask us anything! What's WSM? Wall Street Magnate (WSM) is a real-time market trading community with data from all of the major US Stock Exchanges and now, unique to WSM, live simulated cryptocurrency trading. Starting with $100,000 in simulated cash, members trade stocks listed on the NYSE, NASDAQ and AMEX, and as of July 2020, any cryptocurrency that can be traded in US dollars on Coinbase such as Bitcoin and Ethereum. WSM is available through a web portal at www.wallstreetmagnate.com and as an app worldwide, allowing users in countries where trading cryptocurrency isn't allowed to have a simulated experience based on real life valuations. Founded by experienced Wall Street trader Laurence Cohen and attorney Lewis Schlossberg in 2013, WSM has grown to over 145,000 members. Members can use analytics tools on the platform to track and document their complete trading history with sortable spreadsheets that can be easily exported. Members have even exported their trading history and used that performance to obtain work as real life stock traders. WSM is totally free. We don't sell user data. What Do You Want to Talk About? We've seen some incredible and surprising trends in trading over the last year or so, on our platform and on the real exchanges. We'd be happy to provide our thoughts on that, what we think the future holds, the ins and outs of running a market simulator, and anything else you'd like to ask. We're also happy to talk about our pivot to offering cryptocurrency, which is a step we took in response to overwhelming demand from our users. Why Are You Here? We launched the ability to trade cryptocurrency on the WSM platform in July, and since then, it has dominated our list of most traded securities. We realized that there wasn't another way to test trading strategies on cryptocurrency without risking real money, so we see our platform as having a unique value. Plus, we are investment/trading nerds, so we would be lurking on the subreddit anyway. How Can I Win Cool Stuff? By winning the upcoming WSM /r/CryptoCurrency competition! We'll post a link soon for a competition starting next week that will be open only to readers of this subreddit. For two weeks, each user will make any trades on WSM they'd like. At the end of two weeks, the top three finishers will receive physical trophies and rewards from the moderators to be announced. [link] [comments]  | ||
| Daily Discussion - November 13, 2020 (GMT+0) Posted: 12 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:
To see prior Skeptics Discussions, click here. [link] [comments]  | ||
| Posted: 12 Nov 2020 11:24 PM PST | ||
| PayPal Removes Waitlist for New Crypto Service! FOMO about to kick in Posted: 12 Nov 2020 09:19 AM PST
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| Posted: 12 Nov 2020 06:09 PM PST
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| Made a bet 2 years ago with my Brother... Posted: 12 Nov 2020 08:16 PM PST Two years ago I made a bet with my brother that Bitcoin would eventually re-visit $20,000.01. I think I also made a post here and people asked me to keep them updated. I have until end of March for that to come to fruition or I lose. For reference, whoever wins gets to write anything on a sign and the loser has to hold that sign at a busy traffic stop for an hour. Wondering if we're going to make it there. He called me a couple days ago and said well looks like "your Bitcoin" is back. He has constantly given me crap the past couple years that this is a tulip-frenzy. He said he still believes it is but that I might actually be right that it hits $20k again. Well, we shall see. Hoping so! But you never know! [link] [comments]  | ||
| 4.20 BTC is now equal to $69K USD Posted: 13 Nov 2020 12:15 AM PST What an impressive milestone we have reached after a 3 year hiatus! Credit: Originally posted in r/Bitcoin by u/igivereallygoodadvice Qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnm [link] [comments]  | ||
| Fighting back against the downvoters! Your sub needs YOU Posted: 12 Nov 2020 06:03 AM PST As I think we are all aware, there are certain individuals and groups who are taking advantage of the fact that we now receive Moons for karma by strategically downvoting other users' posts and comments. A lot of people are fed up with this, but I haven't made this post to complain about the problem. I'm writing this to suggest some solutions and also for you to share yours. But first, Why do moon farmers downvote: There are a set amount of Moons distributed each month. The number of Moons are divided by the total amount of karma awarded, so moon farmers downvote others because they believe they will get a greater share of the Moons by doing so. The less overall karma given out each month, the more Moons they will get for their upvotes. It's a strategy which is all about taking as much as they can from the community, and not giving anything back. They are happy to receive upvotes for their comments and posts, but do not upvote anyone else's comments and posts. Worse than that, they downvote helpful posts and comments that people have spent a lot of time and effort making. They will downvote comments in posts so that their comment will be seen higher up. They will downvote a post so that it drops to the bottom of the sub and doesn't become visible on the front page. This discourages some users from creating quality content. Here is an example of a high quality post which was downvoted made by u/Joe-M-4, which ended up not being seen as a result of the downvoters getting to it before most people got a chance to see it. Fighting back So we know what the problem is. But what about the solutions? It may not fix everything, but I'd like to share a couple of things that I've started doing to counteract the downvoters, and I'd like to encourage each one of you to do the same, because together we will make a difference: 1. Sort posts by 'New' instead of 'Best' or 'Top'. Why do this? Well, the reason some posts are being downvoted is to make them not visible to the rest of the sub who sort posts by the most popular. When you sort by new, you will see a more accurate reflection of what is being posted here and by upvoting posts which you like other people will be more likely to see them too. Don't be passive. Hit the upvote if you like a post. 2. For every unjustly downvoted comment I see, I make a conscious effort to upvote at least 5 worthy comments. If every time they downvote, we all make a conscious effort to upvote worthy comments and posts (and there are plenty of them to be found) the downvoters' actions will actually have an opposite effect to what they intended. For every downvote they give, we will give 5 upvotes. Now I'm not talking about giving out upvotes randomly. Randomly upvoting every post is not much more helpful than randomly downvoting every post. Just use your upvote for what it's intended for: a vote, giving you the power to reward the type of content you want to see more of. The only way of counteracting downvoters is by taking positive action. That means not being passive and allowing good posts and comments go unnoticed. Use your votes to encourage the kind of content you want to see. Personally, I upvote any helpful, informative comments, any post or comment I comment on, and anyone who engages in one of my posts or comments (unless they're being really rude, lol). Anyway, I'm not trying to tell people what to do, just trying to encourage every user to contribute to making this sub as valuable as it can possibly be. Thanks to Moons your upvote might buy someone a coffee, or even dinner! Hitting someone with an upvote might help to bring a smile to their face after a hard day. Love conquers hate. Positivity and generosity are contagious. Together we can beat the downvoters. Your votes matter. Make them count. Update: Joe's post went from 0 karma when I posted this, to +40 in just 2 hours. This is an example of the kind of positive difference we can make when we come together. [link] [comments]  | ||
| Common fallacies in crypto trading Posted: 13 Nov 2020 12:02 AM PST These are all statements I see so often that I feel it's worth it to dedicate a post to it to show how and why these are wrong. Turned out to be a long post, so tl;dr:
1. You're dumb for investing in XX, it's clearly on a downward trend. Pick XY instead, everyone can see it's got that positive energy/is warming up/has been going up! The past price performance means nothing for what the price will do in the future. Just because something has been going up, doesn't mean it will keep going up. Bitconnect was an absolute opportunity - going up from $0.13 in January 2017 to $86.59 in August 2017! The price had obviously been going up, it's got a lot of positive power behind it! Well, we all know now that this was completely overvalued. Or do we? From August 2017 to December 2017, the price rose to a high of $470. A completely ridiculous price. This was AFTER the whole Bitconneeeeeeeeeeect stand-up act. Markets are unpredictable in the short term, and while something might have been going up for a while and seem like the next Tesla, in the short run markets are going to bounce around and be manipulated. There's a reason those that make money in stock markets tend to be those that take a long-term view (Warren Buffett anyone?) and that try to not let short-term fluctuations bother them too much. 2. But these lines I've drawn, they show that we're on an upward counterhooking octopus tentacle claw into Marge's hair move! You might have drawn some very nice, fancy-looking lines, but "anything you can do, I can do better" where "I" is a trading team filled with quants, massive computing power, and time to analyse this shit all day long. If you genuinely think your TA stands a chance against hedge funds who have far more money on the line and can control the market far better than you do, you should apply to a hedge fund. 3. Okay, so I'll just DCA then, that works! So what dollar cost averaging is for in regular markets is to smoothen the highs and lows during the ever-upward trajectory. If you're investing purely in SPY (S&P 500 ETF), putting $1k in every month and it's worth $100 now, you're buying 10 of them this month. The price shoots up to $200, it just means you only buy 5 this month. Price drops to $50? Congrats, you're getting 20 of them. The reason this works is that the stock market as a whole has shown a propensity to increase in price in the long term, because companies create value. In the long run, the economy keeps growing, companies keep innovating, and those that don't are weeded out. This is rather sensible and a reason it's generally recommended to put some of your money into broadly diversified ETFs. CRYPTO IS NOT LIKE NORMAL COMPANIES. You wouldn't DCA into gold expecting it to keep going up at anything more than the inflation rate, because it doesn't create any new value. You wouldn't invest in any commodity with this expectation. The reason it works for companies is that you are, as a part owner, entitled to part of the profits, and you assume there will be future profits that the stock market as a whole makes because they are constantly innovating to best suit the needs of the population, to beat out their competitors. If they don't, they go bankrupt. Can you say the same about Bitcoin? Do you see innovation happening, do you think it's out-innovating and out-competing the others so that it's offering long-term value? If not, you are speculating based purely on the expectation that others are going to want to buy your shiny rock for more money when you're ready to dump it, and that's closer to a Ponzi scheme than an investment. 4. Gotcha mate. I'll just stick to low price tokens, they have more upward potential. I can't believe this even needs to be said, but the individual price of a cryptocurrency has no bearing whatsoever on either its upward or downward potential. If there's a crypto of which only 10,000 are going to be in circulation, but it has 37 decimals behind the comma, and there's one where 50 trillion are going to be in circulation without any decimals, you can. not. compare. the. individual. price. Look at market cap, sure. Just don't trade based on how "cheap" or "expensive" a single crypto unit is. If you genuinely want to make money in crypto, it's not as simple as following the mantras that you see others following here. Those shouting loudly about how their XY token has been going up since forever and you better buy in before the FOMO hits and everyone wants to buy are speculating, nothing more. They're hoping you jump in so that you pump the price further, validating their beliefs, or so they can dump on you. Those companies and institutional investors that you see buying in and suddenly explain to you why XY is the best thing since sliced bread? Same for them, it's 100% their incentive to have you buy so they can dump on you. If you're investing in anything, make it for the long run. Don't let yourself get guided into buying an individual stock just because it seems to be performing well, and hold to this even more so for crypto. If you're investing for the long run, look beyond the past price performance, and look at what value you think this particular crypto might add to the world. Who knows, you might be picking the gem that is being criminally undervalued by the market, or that isn't that well-known to the outside market yet. If you've done your research, you might find the one crypto that seems like it's out-innovating its competitors for the long run, that offers a chance at long-term gains. Always do your own research, because everyone here has an incentive to shill you into the particular crypto they are holding and when the price starts dumping you might be wondering how you ever got tricked into investing into yet another entry in history's Ponzi scheme books. Sorry for the terribly long rant, but anyone outside crypto that is coming into this subreddit is going to rightly think it's filled with easy targets to make some money off of, and we aren't proving them wrong so far. [link] [comments]  | ||
| Posted: 12 Nov 2020 11:46 PM PST
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| Posted: 12 Nov 2020 11:51 PM PST
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| Bitcoin Price Breaks $16,000 in Sudden Burst Upwards Posted: 12 Nov 2020 06:08 AM PST
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| The short story of Dummy Le Dumbdumb: an educational cautionary tale. Posted: 12 Nov 2020 05:25 PM PST Hi, I'm Dummy Le Dumbdumb. Today is August 28, 2020. I see Bitcoin is at $11.5k. I'm not gonna buy yet, I'm gonna wait for it to dip back to $10K. >1 week later, dip to $10.2K Oh nice, the price dipped. But I think I can do better. I'm gonna wait for the price to drop to $9k. >1 month later, no dip. price: $11K Oh wow that's expensive again. >1 month later: $14K Gee whiz, that's getting expensive. >1 week later: $16K Way too expensive. >A few weeks later: $20K Last time Bitcoin was around this price, it crashed. Not buying. >Fast forward to $30K Wow it's getting ridiculously expensive. Definitely not gonna buy now. >fast forward to $50K It's definitely gonna crash now. >fast forward to $70K damn, I wish I had bought at $11K. If it dips back to $50K I'm definitely buying. >fast forward to $90K Oh wow everyone else is making money but me. This thing might never stop. I'm BUYING. >fast forward to $95K I am so smart. I better go on Reddit and tell non-coiners how dumb they are. >1 week later: drop to $70K Wait...what? >5 months of crashing: $18K FUUUUUUUUUUUUUUUUUUUUUUU Thank you for reading, I hope you enjoyed this classic cautionary tale of "Dummy Le Dumbdumb". [link] [comments]  | ||
| Petition to remove Auto-mod comments on posts: Posted: 13 Nov 2020 02:35 AM PST Are they useful? Not really. Has anybody read Bitcoin pros or Bitcoin cons? Does that (relatively) benign info deserve an auto comment on every post? I don't think so. If everyone disagrees, can mods at least fix the typos? Additionally, I feel like the auto flair comment can be an auto dm to OP like many other subs do. Kill the auto mod comments. [link] [comments]  | ||
| The Bitcoin price has only been higher than now for 12 days in its history Posted: 12 Nov 2020 11:32 PM PST
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| Posted: 12 Nov 2020 10:32 PM PST
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| Posted: 12 Nov 2020 04:51 PM PST
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| The top two financial apps in the Apple App Store sell bitcoin, and the third will next year Posted: 12 Nov 2020 05:45 PM PST CashApp, PayPal & Venmo will all be selling bitcoin in 2021. The PayPal mobile home page now has a very large button to buy crypto, and limits were raised from $10,000 to $20,000 due to overwhelming interest. 80% of CashApp's revenue in Q3 2020 came from selling bitcoin
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| bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6. What is the deal with the US DOJ's 69,369BTC Wallet? Posted: 12 Nov 2020 04:55 PM PST The mystery of who the whale is behind the 69,369 bitcoin transaction 2 weeks ago is solved, its the United States' Depart of Justice. Through this one action, the US government has become the 5th largest single holder of BTC in the world, with more than .37% of the total supply in this single wallet. In the week since the forfeiture was announced, however, the DOJ has been totally mum on the case. I have been thinking about the whole thing quite a lot and find myself in a state of having more questions than answers. First the obvious, what is going to happen to all those beautiful coins?? History tells us there will be an auction soon. No such auction has been announced so far, and there is no law binding the US Marshalls or their daddy DOJ to that option. BTC is a lot more valuable now than when the original Silk Road coins were seized, and the DOJ is perfectly within its mandate to spend those proceeds on "law enforcement activities" - literally everything the DOJ does is a "law enforcement activity." Their options are really endless. Sure, they could liquidate or hodl, but they could also conceivably use the btc for:
But beyond this there are so many interesting points left unaddressed. Why did they announce and process the forfeiture on election day? Who is the hacker(s) that previously controlled the funds? Why is the DOJ not naming the individuals if they clearly know the identity? The filing is titled USA vs the wallet, implying this is a civil forfeiture and not a criminal one. Why are cybercrime charges not being filed, and what kind of circumstance would cause the hacker to not spend the funds for years and then willingly turn them over? This wallet was created as a destination for the forfeiture, why is it continuing to receive funds from many sources without sending any? Who is sending the DOJ money voluntarily? There are a few note4ever style txs, but what about the rest? If these are subsequent forfeitures, why would the DOJ use a single wallet for this? Given the sensational nature of the wallet, and that we are working with such a lack of information at this time, feel free to don the ol' tinfoil hat when taking a stab at these if you want. I am very interested to hear what others are making of this most fascinating scenario. edit: formatting [link] [comments]  | ||
| Its finally happened - new retail are now started to enter this space Posted: 12 Nov 2020 07:41 PM PST The reality is that for a very long time, most of this space has been filled by 2017 investors trying to reclaim their lost profits, or the older more veteran HODLers (who lets face it, are here forever). I'm active on multiple social media sites, so tend to get many private messages from strangers. Usually along the lines of complete scammers - i.e. "do you like bitcoin" followed by a dubious link to some shady fake mining site. However, lately, the scammers seem to have notably departed. Instead, I am now getting a lot of messages, mainly from new investors with no idea as to how crypto functions. Some are from non-crypto financial subs, where I have mentioned crypto - and shockingly not being mocked, with the few negative comments actually downvoted into oblivion (the opposite to what was previously the case). So over just a week or two I have had the following messages: - 1 on Linkedin - 11 on Reddit - 5 on facebook - 3 on telegram (Strangely none on twitter, but I'm not that active there anyway). People are now asking me what coins to buy, how to use uniswap, what is metamask, is this price going up etc etc. All completely new questions and I try as best as I can to help them. They won't be getting told to buy random shitcoins that's for sure. I've even sold and bought some books on facebook. I ask whether they want to trade using crypto and they now all say yes. Some of them even have ancient crypto exchange wallets which they have re-activated, and now they are watching the price, messaging me when ETH goes up and saying they'll hold for 10 years plus. Even google trends are now finally on the move. And remember it usually takes a few months for a person to go from "I'm interested in this, let's get ready" to the point they actually take the plunge and buy. Took me about 3-4 months in 2017! So I think we are now in a phase shift where the sidelines are starting to capitulate and larger flows of money will move. But I think we have a bit of time to stacks sats first. And remember to help new people, because if you tell them to go x100 on Tomato Finance they probably won't stay in the space for long! [link] [comments]  | ||
| Stellar-based Akoin can now be used to pay for groceries and gas in Kenyan city Posted: 13 Nov 2020 02:51 AM PST
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| All Eligible PayPal Account Holders In The U.S. Can Now Buy And Sell Bitcoin Posted: 12 Nov 2020 01:57 PM PST
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| Total Value Locked in DeFi Hits $13.6 Billion Posted: 13 Nov 2020 12:14 AM PST
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| Total number of DeFi users up 55% in past six weeks Posted: 13 Nov 2020 02:22 AM PST
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| Andreas Antonopoulos Introduces Monero Posted: 12 Nov 2020 11:47 AM PST
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| Posted: 13 Nov 2020 03:43 AM PST This time feels completely different. The last time Bitcoin touched $16,000 was in December 2017.
More importantly
If you put these fundamentals into perspective, you can run the numbers on how high or low Bitcoin can go during this bull run. [link] [comments]  | ||
| ‘Bitcoin Undo’ Button Comes to Ethereum Blockchain Posted: 12 Nov 2020 11:55 PM PST
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![[link]](https://i.redd.it/tbq63o65bty51.jpg){kind=link}
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