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    Cryptocurrency Daily Discussion - December 6, 2020 (GMT+0)

    December 06, 2020

    Cryptocurrency Daily Discussion - December 6, 2020 (GMT+0)

    Daily Discussion - December 6, 2020 (GMT+0)

    Posted: 05 Dec 2020 04:11 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 The prior exemption for karma and age requirements is no longer in effect.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.

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    It's all we need

    Posted: 05 Dec 2020 04:39 PM PST

    Remind me in 30 years

    Posted: 05 Dec 2020 03:42 PM PST

    Never forget

    Posted: 05 Dec 2020 12:04 PM PST

    Do you guys like it?

    Posted: 05 Dec 2020 06:20 PM PST

    Bitcoiners in 2021

    Posted: 05 Dec 2020 06:35 PM PST

    Hello, do you have a moment to talk about the gospel of the bitcoins

    Posted: 05 Dec 2020 05:34 AM PST

    Michael Burry, Investor from The Big Short, claims that the Fed is tearing the US apart, tweeting image of assets, with cryptos having the top 3 highest returns, lol

    Posted: 05 Dec 2020 11:28 AM PST

    My friends waiting for the dip

    Posted: 05 Dec 2020 06:44 AM PST

    Fuck Wallstreetbets

    Posted: 05 Dec 2020 07:18 PM PST

    The 'Easy' Life of Crypto Billy

    Posted: 06 Dec 2020 12:03 AM PST

    Inevitable

    Posted: 06 Dec 2020 02:55 AM PST

    In full buying spree !

    Posted: 05 Dec 2020 10:23 PM PST

    A throwback to where we came from (March this year)

    Posted: 05 Dec 2020 07:31 AM PST

    The effect of Paypal integrating Crypto

    Posted: 06 Dec 2020 03:10 AM PST

    It is already here.

    Posted: 05 Dec 2020 07:47 PM PST

    I’m ready to make a YouTube channel

    Posted: 05 Dec 2020 09:51 AM PST

    This happens too often.

    Posted: 06 Dec 2020 12:00 AM PST

    Coinbase finally caves to the SPARK airdrop, only after almost every other exchange in the world.

    Posted: 05 Dec 2020 04:32 PM PST

    Me in 50 years...

    Posted: 06 Dec 2020 03:29 AM PST

    Grayscale: Ethereum Becoming More Than Crypto Coder Darling

    Posted: 06 Dec 2020 02:27 AM PST

    It feels like yesterday

    Posted: 05 Dec 2020 05:34 PM PST

    Bitcoin and Central Bank balance sheets used to correlate the last decade, but BTC is lagging behind now. Difference is about 100x.

    Posted: 06 Dec 2020 03:40 AM PST

    The Great Moon Experiment: 10,000 in Moons - $500 USD - 10 Coins on Binance, Redditors pick the Coins. - December 5th Update

    Posted: 05 Dec 2020 09:43 AM PST

    The Great Moon Experiment: 10,000 in Moons - $500 USD - 10 Coins on Binance, Redditors pick the Coins. - December 5th Update

    Hey folks - It's a month later so I'm updating the competition. Bitcoin's had a pretty wild ride in November, going from $15,000 to chasing a new All time high, bringing up a lot of alts with it. But were the picks Redditors picked the ones to lead the pack? Let's find out.

    https://imgur.com/CzxcKBw - November 5th Blockfolio

    https://i.imgur.com/IDVJwil.jpg - December 5th Update

    https://docs.google.com/spreadsheets/d/1ix2NquwnxQq5GHy9AfJfJaP1SrgdQ19DewuCBUFXRrQ/edit?usp=sharing - Updated Spreadsheet

    _________________________________________________________________

    ​

    We'll go by rankings on the list, starting from the bottom. This is what the original $50 is worth now:

    ​

    #10 - SOL - $51.14

    ​

    https://preview.redd.it/62er6w9s1c361.png?width=702&format=png&auto=webp&s=0b0e539c0ff6995e57bbc71b8bf34c403944a7ed

    SOL had a pretty wild month, going from $1.34 just before the buy to topping off at $2.43 twice, before falling back to normal levels. It's also the only coin on the list that actually came close to losing money this month. At one point it was one of the top contenders.

    ​

    #9 - XMR - $58.35

    ​

    https://preview.redd.it/hr2fvq9j0c361.png?width=735&format=png&auto=webp&s=4912bef06ffd4b7e3d8e6a8de25e98b4b7034564

    Unlike SOL, XMR had one of the most boring months out of the coins on this list. Its price went between $128-138 in what is almost certainly the least entertaining watch in the last month. Maybe its price is really good at keeping hidden.

    ​

    #8 - DOGE - $66.40

    ​

    https://preview.redd.it/lm2e33hs0c361.png?width=712&format=png&auto=webp&s=4085ab166ef22bda1b176a1918e8828c68974a53

    DOGE actually had a pretty big spike when things were going wild, going all the way up to $0.004 before settling back down to earth. It was largely stagnant for 2 weeks before going crazy, behaving like the great meme it really is.

    ​

    #7 - IOTA - $68.15

    ​

    https://preview.redd.it/ssaqt3dz0c361.png?width=714&format=png&auto=webp&s=356e79f13b92a6e00de2a4f1116cbbdc4f2a93e1

    IOTA had a similar pattern to a lot of coins in that it went nuts on the week of November 24th, almost doubling in price. Since then it's largely gone back to the mean. It held the same pattern of a lot of alts as well in that its price remained nearly stagnant for the 2 weeks Bitcoin was rising.

    ​

    #6 - ETH - $70.93

    ​

    https://preview.redd.it/qti7slr41c361.png?width=716&format=png&auto=webp&s=32240e56f726d56724398869812e2d2707aab14b

    ETH actually performed differently from a lot of the alts in that it had a huge rise up, a huge melt down, then a huge double rise up. It's still trading close to the top of where it was. ETH never rose a crazy amount, but a fairly stable amount, which is about what was expected.

    ​

    #5 - NANO - $76.57

    ​

    https://preview.redd.it/8euqa4291c361.png?width=702&format=png&auto=webp&s=acceb5386b844171c2927093950b984b2bbb1ea1

    NANO had one of the weirder charts, with 2 weeks of stagnation followed by an actual price doubling, then regression to the mean. It was actually leading the competition at one point before volatility and repeated selloffs pushed it back down to where it once was.

    ​

    #4 - ADA - $78.53

    ​

    https://preview.redd.it/6pqedald1c361.png?width=698&format=png&auto=webp&s=ee2ae2bb8a76c95ac837a1ab9b1b7fe5ec6865ad

    ADA followed a price increase that behaved sort of like a regular alt, and sort of like ETH - A 2 week stagnation, followed by a big rise, big fall, except it had 3 rises and is trading near to its highs that it had. Not quite doubling but very respectable price increases, much like ETH.

    ​

    #3 - LTO - $79.11

    ​

    https://preview.redd.it/bl517h2i1c361.png?width=693&format=png&auto=webp&s=190640c905880c97544a54d9b30efd6cb5be6b8c

    THIS was a wild one - LTO's graph was basically straight up the entire competition. It MORE than doubled in price, topped off at about +120%, fell, then double topped AGAIN. Since then it's been a landslide down to more normal levels. LTO was leading the competition for a long, long time and only this week has fallen back down to normal levels.

    ​

    #2 - VET - $83.49

    ​

    https://preview.redd.it/vloul9jm1c361.png?width=704&format=png&auto=webp&s=aef3d5cb23d581b5ce6f5f76d569b49f0c5651f4

    VET seems to have combined all the different trends into one. 2 weeks of stagnation, meteoric rise to more than double the price like LTO, a double top like ETH, but only after a big fall. Its price has always been interesting to watch, but this competition's volatility has made one one of the best performing alts.

    ​

    #1 - XRP - $123.38

    ​

    https://preview.redd.it/h0zjoa5y1c361.png?width=702&format=png&auto=webp&s=9bbfc62fda628d7c422389d931f388a91160a15b

    Nothing much to say here - XRP's graph for most of this competition was straight up. It nearly TRIPLED in price over a 3 week period and only now is starting to show signs of being human. Without a doubt the best performing alt this month on the list, and it wasn't even close.

    ​

    _________________________________________________________________

    ​

    Overall, the $500 portfolio has risen in value 51.2% in a month to be worth $756.06.

    If the $500 had been left in MOON (10,000 moons), it would be worth $155.

    If the $500 had been left in BTC (0.353 * 18,950) it would be worth $668.93.

    _________________________________________________________________

    ​

    Overall, Reddit's portfolio has beaten holding both MOON and BTC alike. Nice.

    Shoutouts to u/Daft_Funk87 (XRP), u/CalculatedLuck (VET) and u/CryptoNarf (LTO) for your picks!

    ​

    Good luck going into the new year. :)

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