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    Cryptocurrency Daily Discussion - December 17, 2020 (GMT+0)

    December 17, 2020

    Cryptocurrency Daily Discussion - December 17, 2020 (GMT+0)

    Daily Discussion - December 17, 2020 (GMT+0)

    Posted: 16 Dec 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 The prior exemption for karma and age requirements is no longer in effect.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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    [Megathread] Bitcoin surpasses $20,000, setting another all-time high

    Posted: 16 Dec 2020 06:56 AM PST

    BTC smashes $23,000. Is at $23,500 now as I type.

    Posted: 17 Dec 2020 01:21 AM PST

    This is getting absolutely insane. How much does it have to go up before it counts a parabolic? :-0

    If you believe in Stock-to-Flow, the number for 12-17-2020 was $23,648, so pretty close to what we have. Regardless, before I could even start typing about it being $23000, it almost blew through it. Crazy man.

    submitted by /u/EGarrett
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    PSA don't FOMO and invest money you don't have!

    Posted: 16 Dec 2020 05:59 PM PST

    Last time we hit an ATH there was an influx of newbies looking to get into bitcoin.

    Whatever you do DON'T take out loans, DON'T max out your credit cards and DON'T FUCKING REMORTGAGE your house to buy crypto.

    Only invest money you're willing to lose. There's no guarantee it will continue to go higher. And you definitely won't have the stomach for when there's a pullback.

    You can invest small, you don't need to buy a whole bitcoin!

    If you have waited 3 years for this ATH, then congratulations on hodling and enjoy. That is all.

    Most of this information will be known to veterans of crypto. This is mainly for the newbies.

    K thanks bye.

    submitted by /u/AntDoctor
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    So I took part in 14 airdrops reportedly worth '$2,827.90'..

    Posted: 16 Dec 2020 08:00 AM PST

    So we're all aware of the Uniswap airdrop that took place earlier this year, where some lucky folk woke up to over $1200 worth of UNI dropped to them in their wallet – worth over $3,000 at its peak – simply for interacting with the Uniswap platform prior September 1st 2020. I wasn't one of these fortunate few and neither were a lot of other people here. I'd see people asking if they were too late for the airdrop, or if there were any other airdrops similar. This gave me an idea:- take part in as many airdrops as possible and see how many had any value to them and report back. The answer may seem obvious to some, but I wanted to evidence it.

    The task was simple, enter 'cryptocurrency airdrops' into a search engine and see what came up. This eventually led me to joining several airdrop telegrams and twitter accounts and after a week or so I had applied for 14 airdrop by mid October.

    These projects almost universally required the user to join the project's telegram group as well as like and retweet a post on the project's twitter account and follow them. Some would ask you to join their Facebook or Medium page and some would require you to post about them and tag friends in. Needless to say, I used throwaway accounts and didn't take part in any that required to tag someone else. Nearly all of them touted themselves as the next big thing in decentralized finance. These were the projects and what they advertised:

    Name Airdrop Adv. $ value
    ArbiSwap 1000 Aswap $30
    UniSwapx 500 UNIX $500
    Imperium PB 100 IPBA $50
    YFIV Finance 1 YFIV $360
    CryptoTechGiants 50 USDT $50
    Universe Token 500 UNIT $500
    yToken Finance 0.2 YTKN $4
    CeliSwap 500 CSP $500
    XUNII.Finance 200 XUNII $20
    Revo Finance 1.5 RVF $28.90
    Ybull Finance 0.2 YBULL $10
    YFDiamond 1 YFD $25
    Xenon Token 5000 XNT $50
    dEarn Finance 70 DFI $700

    Now, those of you who have been here a while will know exactly where this thread is going. To others, this should confirm their suspicions. Telegram is abbreviated to 'TG'.

    Name Received What Happened
    ArbiSwap 0 Aswap You had to pay them $2 for gas to get airdrop worth $1.34 (worth $1.11 as of now)
    UniSwapx 0 UNIX Airdrop never arrived, locked their TG whilst heavily pushing presale
    Imperium PB 0 IPBA Airdrop never arrived, Telegram channel locked 2 days before airdrop
    YFIV Finance 0 YFIV Airdrop never arrived but still heavily pushing presale even now
    CryptoTechGiants 0 USDT Airdrop turned into a competition based on how many people you could refer, TG channel turned into a signal group (A.K.A P&D group)
    Universe Token 0 UNIT Airdrop never arrived. Locked their TG and advertised a doubling ETH scam website to their users
    yToken Finance 0 YTKN Airdrop never arrived. TG locked and then sold to 'BinanceSwap'
    CeliSwap 0 CSP TG locked. Required 0.09 ETH (then $45) to be sent which "they would send back"
    XUNII.Finance 0 XUNII Airdrop never arrived. TG locked and now advertises other 'airdrops'
    Revo Finance 0 RVF Airdrop never arrived due to "high gas fees". No one bought their presale so they created a poll asking why. Still pushing presale
    Ybull Finance 0 YBULL Airdrop never arrived. Locked and ghosted their TG channel before airdrop
    YFDiamond 0.00005 YFD They airdropped 0.00005 YFD out of the 1 YFD advertised. TG locked and now advertises other 'airdrops'
    Xenon Token 0 XNT Airdrop never arrived. Deleted their TG channel
    dEarn Finance 0 DFI You had to send 0.05 ETH ($25) to them first to 'validate' your address

    So. out of a combined $2,827.90 worth of cryptocurrencies advertised to be airdropped, only one 'project' actually airdropped anything and that was 0.005% of what was advertised which is currently worthless.

    This wasn't a surprise to myself and I am glad to have the actual data to back up my suspicions.

    FINDINGS:

    • Based on the Telegram channels of these 'projects', most of the users were from South America and the Middle East. Presumably from impoverished countries trying to find themselves some income.
    • These 'airdrops' were almost always a front to peddle a presale of their token. This appears to be the primary goal of most of them. They want to sell their newly-minted tokens for ETH, promising their project will get listed on big exchanges 'Soon™'.
    • I only had to provide an email to one project: ArbiSwap. I used a throwaway email. After a couple of weeks I started to receive unsolicited emails from unrelated projects. This indicates that they shared/sold information of their users to other 'projects'.
    • Some of the Telegram channels have been renamed and wiped of all information. The dEarn has been labelled a scam by Telegram themselves. Another has wiped all info and has renamed itself 'Project for Sale' and have made one post stating "We couldn't raise enough from presale, so we abandon the project". I am unable to find out which 'project' this channel belonged to.
    • Some projects seem to work together and promote the other project to their users on TG and twitter.
    • Airdrop twitter accounts and telegrams don't always promote the same airdrops, indicating that they only advertise airdrops that they're paid to advertise by the 'project'.

    To any newcomers to the cryptosphere, please do your research before taking part in any airdrops. Your time is worth more than most of these 'projects' combined. If something seems too good to be true, it usually is.

    submitted by /u/mortuusmare
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    Man who accidentally threw away bitcoin is probably in even deeper pain now that Bitcoin is around $22k. He would've had $167 Million had he not thrown them away.

    Posted: 16 Dec 2020 11:23 PM PST

    Square Is Up 100% on Its $50 Million Bitcoin Purchase

    Posted: 16 Dec 2020 05:51 PM PST

    If you invested $1k ten years ago

    Posted: 17 Dec 2020 01:12 AM PST

    Apple: $12.7k

    Google: $6k

    Facebook: $9k

    Amazon: $22k

    Netflix: $34k

    Tesla: $159k

    Gold: $1.6k

    Silver: $1.6k

    Bitcoin: $288M

    Wish I knew about bitcoin 10 years ago :( But it's ok as Bitcoin market cap is still peanut compared to those giants

    Which one will you like to hold for the next 10 years?

    submitted by /u/salil19
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    IOTA in German Parliament (Bundestag)

    Posted: 17 Dec 2020 12:34 AM PST

    It's official, Cardano fund2 is the world's largest decentralized innovation fund!

    Posted: 16 Dec 2020 10:26 AM PST

    https://www.youtube.com/watch?v=_LkAHB6VdVI (live right now)

    total stake that participates in fund2: 566 million ada

    total registered voters/ # of unique wallets in Catalyst: 1725

    # of unique voters in Dash (0.5M$ funding rounds) : approx. 1000

    # of comibned voters for all top 100 DAOs in Ethereum: approx. 1100

    CARDANO CRUSHED IT and Voltaire isn't there yet!

    Congrats to Cardano community!

    More info on funding: https://forum.cardano.org/t/project-catalyst-voting-the-genesis-of-a-new-era-of-blockchain-governance/43103

    submitted by /u/stake_pool
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    Binance, Coinbase Crashed After Bitcoin Broke $20,000

    Posted: 16 Dec 2020 08:37 AM PST

    Orion Protocol’s Multi-Exchange Trading Terminal Is Now Live

    Posted: 16 Dec 2020 08:33 PM PST

    Bitcoin Smashes JPMorgan Market Cap 3 Years After Dimon Dissed Crypto

    Posted: 16 Dec 2020 10:22 AM PST

    Am I the only one who is not that excited anymore?

    Posted: 17 Dec 2020 03:21 AM PST

    I am one of those who were into crypto during the 2017 bull run and it felt like an addiction back then. I checked my portfolio every couple of minutes.

    With bitcoin being at a new all-time high I still think that it's great but I also know that it could be at 5000 again in a year. So I don't really care. I learned in 2017 that it's too volatile to be happy about it. Of course I hope that the price will surge and I might pay out in a couple of years.

    submitted by /u/chrzzl
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    Guggenheim CIO Says Bitcoin 'Should Be Worth' $400,000

    Posted: 16 Dec 2020 12:22 PM PST

    I told a kid about Crypto. (Story)

    Posted: 17 Dec 2020 02:38 AM PST

    I have an interesting story that I felt was worth sharing with the Crypto community

    So, I live in Western Sydney, in a suburb dominated by minority immigrants (mostly from the Middle East and South Asia).

    Just around the corner from my place, there is a small necessities shop run by a Syrian man and his kid (12-14 y/o I would say). I sometimes walk there to buy milk and bread when I'm too lazy to drive to the supermarket. They are both nice and make good small talk.

    Recently, I noticed that the kid has been running the shop in the evening. So whenever I'm about to pay, I ask him "Can I pay with Bitcoin?". He often responds with a shy smile and says no.

    I had already asked him around 5 times, and then the 6th time, he asked me "What's Bitcoin?". So I spent a few minutes telling him about it and how the future of money is going to be free from Government control (I had to also give him a quick rundown about where the Australian Dollar comes from). Anyway, he seemed very interested! So I told him to read up on it as much as possible, and I will quiz him the next time I swing by. He laughed and said "Okay!"

    A week later, I go down to the shop to buy some juice. And there he was, sitting behind the counter. I got excited and asked him "Did you research Cryptocurrency?", he excitingly said Yes! So I said, "Ha. Okay! What's a good example of a shit coin?". And he said, "XRP".

    submitted by /u/TraditionalCoffee
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    All you need to know about blockchain marketing, and how companies should launch their campaign

    Posted: 17 Dec 2020 02:32 AM PST

    IoTeX Grants Update — New Grants & Completed Projects

    Posted: 17 Dec 2020 02:59 AM PST

    Bitcoin Price up 13% in last 24 hrs Above $22K, Why Rally Isn’t Over Yet

    Posted: 17 Dec 2020 01:11 AM PST

    The best way to convince your parents to invest 10% of their portfolios in crypto is to tell them to invest 1%.

    Posted: 16 Dec 2020 07:21 AM PST

    I'm almost 40 and both my parents are over 70 years old. Both have a long history of successfully investing in traditional markets. Last year, after months of discussing fundamentals and the macro-economic backdrop, I was able to convince my parents to invest 1-3% of their portfolio in crypto. Earlier this year they have increase it to 10%.

    A small allocation into the crypto asset class is an extremely important hedging strategy. I would never recommend going all in and/or assuming leveraged positions. However, not having any capital allocated in Bitcoin and Ethereum is financially irresponsible at this point.

    If you have parents/grandparents, you should help educate them on what Bitcoin and Ethereum are, how the world monetary system has become extremely fragile and how it has created a sudo-bubble in traditional financial markets.

    There are a lot of well respected, prominent investors publicly discussing cryptos is a very positive light. Tim Draper, Raoul Pal, Paul Tudor Jones, Chamath Palihapitiya, and even the legendary Robert Kiyosaki is promoting Bitcoin. Look up videos on youtube of these guys and share them with your parents. They may be saying the exact same thing you are, but it makes a huge difference for your parents to hear it from them.

    submitted by /u/TheWierdGuy
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    A coin for the medium to long term?

    Posted: 16 Dec 2020 09:08 PM PST

    I know we are in a bullrun and everybody is thinking of buying and selling now,

    But if you were to buy a coin now for the next 3 to 5 years, what coin do you think would hold its value?

    There is Bitcoin obviously, but the top 10 coins all look good.

    I think ETH and LINK have better long term potential, also coins like ADA look good.

    Or should I rather buy all 3 in equal parts and stash them away for the next 3 years?

    Why not just 100% Bitcoin? Because, while I think it is a safe coin, I think it is too safe if that makes sense.

    I don't believe it will jump to $50000 in the next 5 years, (20% per year), but I believe that coins like ETH could easily give a good 20% per year.

    submitted by /u/GoodmanSimon
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    Fund Managers Long Bitcoin While Shorting the US Dollar, Survey Says

    Posted: 16 Dec 2020 11:31 PM PST

    Hedge Fund One River to Hold $1 Billion Worth of Bitcoin and Ethereum in 2021

    Posted: 16 Dec 2020 09:48 AM PST

    And here it comes. Fasten your seatbelts ladies and gentlemen. "Institutional investors signal mainstream adoption of crypto"

    Posted: 16 Dec 2020 10:38 AM PST

    This family traded all their gold for bitcoin in 2017. That bet has nearly tripled as bitcoin breaks above $20,000

    Posted: 16 Dec 2020 06:58 PM PST

    Since the start of October, Ark have announced 15 companies that will jump aboard Marketsquare, a social & development platform for blockchain projects, when it launches at the start of 2021.

    Posted: 16 Dec 2020 05:48 PM PST
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