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    Tuesday, December 1, 2020

    Cryptocurrency Monthly Skeptics Discussion - December 2020

    Cryptocurrency Monthly Skeptics Discussion - December 2020


    Monthly Skeptics Discussion - December 2020

    Posted: 30 Nov 2020 04:12 PM PST

    Welcome to the Monthly Skeptics Discussion thread. The goal of this thread is to promote critical discussion by challenging popular or conventional beliefs.

    This thread is scheduled to be reposted on the 1st of every month. Due to the 2 post sticky limit, this thread will not be permanently stickied like the Daily Discussion thread. It will often be taken down to make room for important announcements or news.


    Rules:

    • All sub rules apply here.
    • Discussion topics must be on topic, i.e. only related to skeptical or critical discussion about cryptocurrency. Markets or financial advice discussion, will most likely be removed and is better suited for the daily thread.
    • Promotional top-level comments will be removed. For example, giving the current composition of your portfolio or stating you sold X coin for Y coin(shilling), will promptly be removed.
    • Karma and age requirements are in full effect and may be increased if necessary.

    Guidelines:

    • Share any uncertainties, shortcomings, concerns, etc you have about crypto related projects.
    • Refer topics such as price, gossip, events, etc to the Daily Discussion.
    • Please report top-level promotional comments and/or shilling.

    Resources and Tools:

    • Read through the CryptoWikis Library for material to discuss and consider contributing to it if you're interested. r/CryptoWikis is the home subreddit for the CryptoWikis project. Its goal is to give an equal voice to supporting and opposing opinions on all crypto related projects. You can also try reading through the Critical Discussion search listing.
    • Consider changing your comment sorting around to find more critical discussion. Sorting by controversial might be a good choice.
    • Click the RES subscribe button below if you would like to be notified when comments are posted.


    To see prior Daily Discussions, click here.


    -

    Thank you in advance for your participation.

    submitted by /u/AutoModerator
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    Daily Discussion - December 1, 2020 (GMT+0)

    Posted: 30 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:

    • 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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    Venezuelan Army Starts Mining Bitcoin for 'Unblockable Income'

    Posted: 30 Nov 2020 07:37 PM PST

    [Megathread] Bitcoin (BTC) hits all time high against USD according to several sources

    Posted: 30 Nov 2020 08:29 AM PST

    submitted by /u/SamsungGalaxyPlayer
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    Ethereum 2.0 staking is coming to Coinbase

    Posted: 30 Nov 2020 12:07 PM PST

    The threat to Bitcoin that no one is talking about.

    Posted: 30 Nov 2020 02:04 PM PST

    There have been two trends related to Bitcoin that pose a serious security threat to Bitcoin's longevity:

    1. Bitcoin's value proposition transformation from digital money to digital gold (reserve asset/collateral).
    2. Externalization of transactions to other blockchains (wrapped bitcoin tokens) and/or centralized digital custodian services like Paypal.

    To put it simply, the long-term security of Bitcoin protocol's depends on the value of transacting directly within the Bitcoin network. The lack of significant scalability of layer 1 along with trends that effectively reduces and diminishes the value of directly transacting in the network can be catastrophic in the long run. Every bitcoin that is externalized to Ethereum, Paypal and others is being indefinitely frozen in its native protocol. The remainder is being used more and more as a reserve asset and collateral. This is not good folks, and we cannot pretend it is not happening or that it is insignificant.

    Bitcoin's security economic incentives were not designed for it to be a reserve asset and have transactions externalized to other systems. Ultimately if this trend is to be reversed the network needs to scale at layer 1 and/or the utility value of transacting natively must increase - there are no tangible propositions to realize either in the foreseeable future. Another solution would be to change the consensus mechanism and/or monetary policy. Eventually something must give, but for now it is entirely up in the air.

    Edit: Just to clarify on the need to scale layer 1. Layer 2 solutions are scaling at a factor of layer 1, and a deficiency from the base layer can still cause severe bottlenecks that could potentially render secondary layers impractical.

    submitted by /u/TheWierdGuy
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    Coinbase Reports Delays in Processing Bitcoin Withdrawals Due to Network Congestion, Everyone Shocked.

    Posted: 30 Nov 2020 03:07 PM PST

    U.S. Intel Official: We "Cannot Allow China to Dominate" Digital Currencies

    Posted: 30 Nov 2020 11:27 AM PST

    This guy has created a totally random Ethereum based betting platform using his Hampster to power marble races

    Posted: 30 Nov 2020 03:29 PM PST

    Why Greater Crypto Regulation Is the Key to Greater Adoption

    Posted: 01 Dec 2020 02:09 AM PST

    Investors may be leaving gold and flocking to bitcoin according to this Bloomberg article.

    Posted: 30 Nov 2020 09:47 PM PST

    Venezuela wants to base its economy on Bitcoin.

    Posted: 30 Nov 2020 01:23 PM PST

    Winklevoss twins say bitcoin will be the decade’s best performing asset, see ’25x’ gains from here

    Posted: 30 Nov 2020 06:43 AM PST

    ETH2.0 Launched

    Posted: 01 Dec 2020 04:18 AM PST

    ETH2.0 Launched

    Congratulations to every single person who played a part in getting the eth2 Beacon Chain to mainnet - you are forever legends.

    Beaconcha.in

    Active Validators: 21,063

    Genesis Checklist

    Its a great news guys, How are you feeling on this today, My eth bags will rocket soon I am damn high today

    submitted by /u/salil19
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    Bitcoin just set a new all time high on coinbase

    Posted: 01 Dec 2020 03:15 AM PST

    On 12/1/2020 at 6:09 EST, bitcoin broke the previous all time high at 19891.99 set on 12/16/2017.

    Where do you guys think bitcoin is going from here? I'm generally thinking over the next year bitcoin drifts to 1 trillion marketcap, which will be the next macro psychological resistance.

    submitted by /u/ShotBot
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    Congratulations to the HODLers. Bitcoin just had it’s highest monthly close ever!

    Posted: 30 Nov 2020 04:20 PM PST

    Wow. What a ride. And we're just getting started. Congratulations to this entire community!

    submitted by /u/myhaxdontwork
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    If a new ATH won't even get BTC to the front page of reddit, what would?

    Posted: 30 Nov 2020 08:29 AM PST

    These last few months have been so good for crypto. The massive bull run, Microstrategy and PayPal entering the game, billionaires comparing it to gold, Arya freakin Stark started hodling, and now we even have a shiny new ATH to point to. Yet every time there is one of these events, I check r/all for mentions and see nothing.

    I get that these people don't need to understand cc to benefit from it, so long as institutions do, but I am not sure I see us getting there without at least btc memes making the front page. I also understand that many technical subs prevent themselves from being featured on r/all to limit brigading, and I have no idea if this sub is one of them. If so, I would disagree with the decision strongly. r/cc is the melting pot of the reddit cryptocurrency community, and the exact sub we would want interested outsiders to discover before digging into the more focused and technical subs. We even turned this sub into a weekend meme volcano, so I assume posts from here are capable of making the front page. Perhaps it is just the tribalism and downvote police holding us back?

    So honestly, what do you think it would even take at this point to make the mainstream notice enough to make the front page?

    submitted by /u/HashMoose
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    Authorities shut off electricity to Bitcoin miners in China’s Yunnan province

    Posted: 30 Nov 2020 06:42 PM PST

    Just help,remember we all needed help when we first started

    Posted: 30 Nov 2020 11:47 AM PST

    Remember when you first started investing? You may have made a lot of mistakes.I personally did,some like buying a shilled coin without doing much research,buying from sources with high fees,investing in shitcoins You also may have not knew about things and concepts like DCA,FOMO,Bears/Bulls,whales,pump and dump,etc Just help others,even if dumb money may make us rich,we need this space to mature and people to be more informed about crypto if we want the market to hold the gains. Do not be mean,do not be sarcastic,do not be hateful,we have the informations about basic concepts,we do not have the secret to wealth.But we can help others.Let's make this a better place.

    submitted by /u/anonymmux
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    Warning: Coinbase has a UI bug, where under some circumstances (they don't seem to know which) it doesn't update your balances after a successful transaction has gone through.

    Posted: 30 Nov 2020 10:48 PM PST

    Part of my exchange with them:

    BTW, I'm now getting "insufficient funds" when I try to sell, which suggests that maybe the transactions are going through in one part of Coinbase's system, but not in the front end. Please note that I only intended to sell ONE batch of [redacted].

    Best regards, Alex

    Their response:

    Hello Alexander,

    Thank you for contacting Coinbase Support.

    This is a known issue that our teams are aware of, however we cannot offer a specific timeline for when this might be addressed.

    We recommend checking back in on your account periodically for any updates.

    Thanks, Coinbase Support

    (my emphasis.)

    submitted by /u/AlexCoventry
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    Watch Bitcoin price in realtime with my minimalistic webapp

    Posted: 01 Dec 2020 02:31 AM PST

    Bitcoin hit a new All Time High $19,892

    Posted: 01 Dec 2020 03:41 AM PST

    South Korea to delay new tax regime on cryptocurrencies until 2022

    Posted: 01 Dec 2020 03:34 AM PST

    Russia is set to legally recognize bitcoin

    Posted: 30 Nov 2020 09:29 AM PST

    State-Supported Actors Use Coin Miners to Stay Hidden

    Posted: 01 Dec 2020 03:27 AM PST

    Yearn and Sushi join forces. KP3R involved.

    Posted: 30 Nov 2020 11:31 PM PST

    Status of Second Stimulus Checks as Deadline for Government Shutdown Draws Near

    Posted: 01 Dec 2020 12:28 AM PST

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