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    November 01, 2020

    Cryptocurrency PLEASE VOTE ON MOON DISTRIBUTION PROPOSALS

    PLEASE VOTE ON MOON DISTRIBUTION PROPOSALS

    Posted: 31 Oct 2020 10:51 AM PDT

    Daily Discussion - November 1, 2020 (GMT+0)

    Posted: 31 Oct 2020 05:15 PM PDT

    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 The prior exemption for karma and age requirements is no longer in effect.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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    Facebook Censors Bitcoin-related Content Once Again

    Posted: 31 Oct 2020 08:33 PM PDT

    MicroStrategy’s Bitcoin Bet Reaches Front Page of the Wall Street Journal

    Posted: 31 Oct 2020 05:36 PM PDT

    Don't buy Bitcoin on Bitcoin.com, bait and switch tactics.

    Posted: 01 Nov 2020 01:27 AM PDT

    I should have known not to trust a creation of Roger Ver, but I was considering buying BTC from Bitcoin.com while I waited for my Kraken buy to go ahead.

    Usually I wouldn't complain about this, but Bitcoin.com is in the top few search results for "buy bitcoin", so I feel like it needs to be said.

    Essentially what they're doing is a typical bait and switch. Bitcoin.com presents one price to lure you in, and then changes it at the last second, after you complete KYC verification.

    Here's an example.

    1000 USD is presented to purchase 0.08477 (this was taken last week).

    That is market rate, so no problem. Let's buy it.

    I complete KYC, make an account, and I'm excited to buy Bitcoin at a fair price. But, then the switch happens.

    See here.

    The deal went from $1000 = 0.08477 BTC, to $1000 = 0.08109 BTC. In this timeframe, there was no price swing to account for the change.

    In addition, they're charging a further $75 processing fee.

    I can live with processing fees, but the Bitcoin price bait and switch is seriously not on, IMO.

    What they've done in this example, is presented an offer of an initial Bitcoin price set at $11,797, and then changed the effective price to $12,332, before they add a further $75 fee.

    An almost $500 extra, hidden fee is seriously not OK, and should be pointed out. We really don't want new users (or seasoned ones) to have this experience as one of their first in the Bitcoin space.

    Needless to say, I went back to Kraken.

    submitted by /u/Saikothasan
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    Trick or treaters find $100 bitcoin wallets in candy box

    Posted: 31 Oct 2020 10:43 PM PDT

    We were always in a bull run

    Posted: 01 Nov 2020 02:25 AM PST

    We were always in a bull run

    ​

    Time Frame- Monthly

    Bitcoin price on the white paper day:

    2010: $0.2

    2011: $3.2

    2012: $11.0

    2013: $203

    2014: $338

    2015: $312

    2016: $697

    2017: $6,441

    2018: $6,318

    2019: $9,190

    2020: $13,790

    ​

    When we see in bigger picture Bulls were always aggressive towards bears

    How long Bitcoin can go as comparing gold market cap and stock market cap

    Bitcoin MC: $250 billion

    Gold MC: $9 trillion

    Stock MC: $90 trillion

    Still, a lot more potential movement can be seen from here.

    Additional Important facts:

    1. BTC is still above $10k for 96 consecutive days.
    2. BTC broke 34 months new high
    3. BTC closed 2nd monthly high.
    submitted by /u/salil19
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    Is there already an alt cryptocurrency with real and working use case?

    Posted: 01 Nov 2020 01:37 AM PDT

    I stopped following alts for some time. I remember many promises how this and that coin will be used for an astonishing function but nothing was ever fully working.

    One example is Stellar. They were saying you can basically use it to exchange fiat currency across the globe. Yet im not aware of any service allowing it. Let's say I will send usd to someone to Japan and he/she gets yen.

    So is there now at least one coin fully working for the use case the authors promised?

    Let's not count alts which serve just for cryptokitties and other useless things but focus on stuff which really helps people in real world

    submitted by /u/emreddit
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    Bitcoin Shrugging Off Stimulus And Election Fears Is A Sign Of A Bull Market

    Posted: 31 Oct 2020 05:43 PM PDT

    Arthur Hayes and others allegedly looted more than $440M from BitMEX, while preparing to run from US DOJ, FBI and CFTC

    Posted: 01 Nov 2020 01:42 AM PDT

    Sleepy Swiss town launches Tezos-backed Coronavirus aid program

    Posted: 31 Oct 2020 02:47 PM PDT

    PayPal will allow users to buy, sell and shop using cryptocurrencies including bitcoin & ethereum

    Posted: 31 Oct 2020 01:52 PM PDT

    All the Returns in Life

    Posted: 31 Oct 2020 05:29 AM PDT

    As Bitcoin Reaches Jan 2018 Prices, So Do Transaction Fees

    Posted: 01 Nov 2020 01:26 AM PDT

    Chinese President Xi Jinping to release a statement on the importance of digital currency.

    Posted: 31 Oct 2020 04:57 PM PDT

    Protecting yourself against Ledger phishing scams.

    Posted: 01 Nov 2020 02:51 AM PST

    ​

    There's been a lot of email & general phishing scams going around the cryptospace. I think, given the imminent influx of crypto newbies, we should try and educate everyone to the best on scam prevention and overall awareness.

    If you own a Ledger, (https://www.ledger.com/), a lot of these scams are directly targeted to you. Recently, the huge information leak / hack on Ledger created a massive influx of fake emails & SMS messages to individuals who were on ledger's purchase history.

    These emails can be very convincing, often professionally done to mimic exactly what a legitimate ledger email would say. The link below shows a scam variation

    https://imgur.com/a/8VQuldc

    They will most likely say something along the lines of believing your device is faulty or your coins are at risk of being stolen. They encourage you to click a link disguised as a helpful button. These links can lead you to another website where you could be asked to input your 24 word key phrase or even just outright compromise your ledger with malware. The safest practice with these emails or SMS messages is that you DO NOT CLICK ANY LINKS.

    That may seem obvious to a lot of people, but if you have a decent sum of money on your ledger and you hear even that faintest idea that your coins could be jeopardized you can race to do impulsive actions – ie, clicking a phishing link.

    This brings me to the most important part of avoiding phishing crypto scams.

    NEVER, EVER enter your 24-word recovery phrase anywhere else other than on your physical ledger device.

    Furthermore, I advocate downloading the metamask chrome extension (https://metamask.io/)

    It has a built in feature which helps prevent phishing attempts on malicious websites or links. If you were to stumble onto one such instance with metamask installed you would get this :

    https://imgur.com/a/OYfJgC2

    submitted by /u/Iskwateryday
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    As fees on BTC and ETH chains reach new highs, what other chains have you been using to introduce new people to crypto?

    Posted: 31 Oct 2020 09:17 PM PDT

    As I was discussing crypto with someone at a restaurant, BTC fees were up to $13 and there is an insane amount of unconfirmed transactions pending. I wanted show them how they could easily send money to thier friend in Italy. I was going to show them by sending them $20 BTC and they could pass it on to the friend, but like $20 in fees to send $20 isn't what I want to promote. What else is everyone using?

    PROBLEMS: To show the pure dream of crypto as money, I show people Nano. Ultra fast and feeless is great... But there isn't much expanding adoption.

    BTC Lightning is pretty good on speed, fees and the underlying value of BTC but it's complicated for newbies to set up a channel.

    ETH value transfers are cheap enough with many 2nd layers out too. But the main value is in the smart contracts including DEFI. Smart contract interactions are a bit too expensive for if you're investing $100 for a test run.

    POSSIBLE SOLUTIONS: I love BTC so being able to keep using that is great and possible with the renBTC bridge. Then renBTC to wBTC if you are uncomfortable. This is BTC on the ETH network.

    A new chain I've found is Incognito which runs on the Kyber network. Similar to how you wrap BTC on Ethereum, you can wrap BTC, ETH, ERC20 and XMR onto Incognito and trade them, lend them for interest, or transfer them all privately. Then send them back to the original chains. It's a bit slow (1-3 minutes per interaction) and is pretty new, but is a decent project to watch.

    Lastly I've seen some projects building on xdai chain which is a side chain of Ethereum and should be compatible with most/all smart contracts. It uses wrapped DAI as it's base currency. Basically just like Ethereum but much cheaper and much faster to use.

    Any other cross chain solutions out there? As ETH and BTC are the top 2 I think it's important to be able to settle back on those at some point.

    submitted by /u/crazybrker
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    Never forget this

    Posted: 31 Oct 2020 06:55 AM PDT

    Since Satoshi Nakamoto published the Bitcoin whitepaper on this day 12 years ago, a lot has happened to the first cryptocurrency.

    Posted: 31 Oct 2020 02:18 PM PDT

    [ADOPTION OPPORTUNITY!] Want Crypto to Save the World? r/Cash4Trash Pays YOU to collect Trash and Clean the Planet. Here's how the Crypto Community CAN HELP.

    Posted: 31 Oct 2020 11:32 PM PDT

    People are paying $0.50 for a verified grocery bag of trash, and $3.50 for a full trash bag collected.

    Anyone, Can Pay Anyone, Anywhere they want. It's like a Freelance Task on SlaveLabour.

    However Greedy Fracking Bankers will eat into cross border transactions. Crypto is the only way we can win in Micro Payments.

    I see a lot of interest!

    The movement is Ballz out amazing as it is

    1) Capitalistic - A way to earn tiny cash? Sign me in! 2) Altruistic - A way to save the planet? Sign me in! 3) Simple - Half a dollar for a cleaner world! SIGN ME IN!

    Here's the Question -

    What crypto would be best for such micro transactions without fees?

    BCH? BTC? Monero? Nano? Name it please.

    I personally am going to pay people out of my freelance earnings everyday for this. If I can pay in crypto, I'll pay more!

    This is a great chance for adoption, and is a totally early mover community which needs crypto.

    Please let me know your opinions.

    You can Check out r/Cash4Trash there.

    Thank you!

    submitted by /u/Arinupa
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    Italian Airport Employee Accused of Using Airport's Computers to Mine Ethereum

    Posted: 31 Oct 2020 05:11 AM PDT

    Indian crypto industry expanding, regulators seem reluctant to engage

    Posted: 01 Nov 2020 03:40 AM PST

    Bitcoin Hits a 34-Month High as BTC Briefly Pushes Past $14,000 on Its Birthday

    Posted: 31 Oct 2020 05:45 AM PDT
    Read more
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