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    Cryptocurrency Daily Discussion - January 20, 2021 (GMT+0)

    January 20, 2021

    Cryptocurrency Daily Discussion - January 20, 2021 (GMT+0)

    Daily Discussion - January 20, 2021 (GMT+0)

    Posted: 19 Jan 2021 04:00 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.

    Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

    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 The prior exemption for karma and age requirements is no longer in effect.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.
    • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
    • Comments will be sorted by newest first.

    Useful Links:

    submitted by /u/AutoModerator
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    Bought My First ETH at $2. Finally Fully Out of the Game.

    Posted: 19 Jan 2021 10:19 AM PST

    I sold out my remaining crypto last night. Still feels surreal to me. Started buying Ethereum at just above $2 in early 2016 after missing the boat on Bitcoin. I put my whole tax return in in 2016 and threw a couple hundred at it whenever I could. I didn't buy a car and biked to work to save money. I remember at the time thinking there was about a 1/3 chance it would 100x, so there was an asymmetrical risk/reward in my opinion.

    Sold a large chunk during the previous bull run in 2017, and sold the remaining in multiple sales this January. Averaged about a 150x on my cost basis across all sales. All long-term capital gains. Now I'm 27 and financially independent. Will be buying my parents a house this year.

    I love this community and hope both the technology and price continues to improve. Thanks to everyone for making this a fun ride!

    submitted by /u/FollowMe22
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    Finally Pulled Out Saturday after just under 2 Years. Crypto Turned into a Car.

    Posted: 19 Jan 2021 07:46 PM PST

    For just little under 2 years I have put into what I could into Crypto. When I did, the average price of Ethereum was $250 and the average price I bought most of my LINK was $2.50. When I cashed out, Ethereum was $1,200 and LINK was $22.00.

    Today, I took those wise investments that I have been holding onto specifically to purchase a Car to do just that, purchase a Car as I have been without one for about 2 years. I hit the bank, met the seller, and drove away with a nice BMW convertible, all thanks to the life saving Cryptocurrency. Now, I wish I could have held onto it longer, or kept some in, but I had seen what I had and at the same time what I wanted came across at the right price and I pulled the trigger.

    Couldn't be happier and as I type this, I'm sitting in my Convertible BMW, except the top is up, because it's snowing. Cheers. My happy Crypto Story.

    submitted by /u/HookItUpCuuz
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    The False Narrative Of Bitcoin’s Role In Illicit Activity

    Posted: 19 Jan 2021 08:13 PM PST

    Joe Rogan & Dr. Ben Goertzel on Blockchain - One of the best explanations on Blockchain I've seen!

    Posted: 19 Jan 2021 01:46 PM PST

    Over 31% of People in Latin America Want to Invest in Bitcoin

    Posted: 19 Jan 2021 07:48 PM PST

    More Than $3 Billion of Ethereum Is Locked in ETH 2.0 !!!

    Posted: 19 Jan 2021 11:02 AM PST

    11 indicators that suggest Ether’s new ATH is just the beginning

    Posted: 19 Jan 2021 06:45 PM PST

    Retrieved my blockchain wallet containing some BTC

    Posted: 20 Jan 2021 01:38 AM PST

    In 2012 my cousin asked that I create a wallet on blockchain dot info, I did that and we started this bitcoin faucet, I got some few Satoshis, I didn't know what to do with them because I couldn't use it for anything, my cousin is an ethical hacker so I think he knew alot about bitcoin.

    Honestly I didn't even know what I was doing, so I gave up. The only fancy thing was been able to send bitcoin to my cousin and the vice-versa. My cousin told me bitcoin was the future of money, he later sent me 3 Btc, I saw the money but I couldn't spend it in Africa. So I wrote my wallet I'd and password in my diary. I gave up because at that time I was involved in a scam project called virtapay, you login every day and they pay you some dollars. I got so much money but I couldn't withdraw the money so I gave up.

    Yesterday, I was going through my old documents and I saw my diary. Was reading few notes and I came across blockchain dot info, then I saw all I wrote. Went to check that up and low and behold my Btc has been sitting in the wallet all this while. I am so happy I came back to crypto in 2019.

    submitted by /u/Zealousideal-War6206
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    Details of Yellen's 7.2 Million in speaking fees from banks and Wall Street interest groups is no longer available...and, if elected, she will be one of the most prominent figures dictating financial future including cryptocurrencies legitimacy!

    Posted: 20 Jan 2021 02:48 AM PST

    Ford, BMW back blockchain 'birth certificates' to combat used car fraud

    Posted: 19 Jan 2021 09:17 PM PST

    Deutsche Bank and Bank of America surveys see Bitcoin in a territory of a Bubble

    Posted: 20 Jan 2021 03:39 AM PST

    Biden's US Treasury Secretary Nominee Raises Concerns Over Crypto Terrorism Financing

    Posted: 20 Jan 2021 01:17 AM PST

    Privacy-focused Brave becomes first browser to support IPFS

    Posted: 19 Jan 2021 11:42 PM PST

    Pi & Bee Network Scam | Part 1

    Posted: 19 Jan 2021 09:56 AM PST

    Due to the increased surge of people sharing this stuff again on social media, I felt (and presumably many others here) need to address this type of content.

    I know the Pi and Bee gang will be downvoting this to oblivion but this needs to be said.

    Anyway, I have had 10 affiliate links sent to me on social media to sign up to both Pi and Bee. I just wanted to urge everyone DO NOT download these apps without reading this.

    Pi has been round for years now, constantly promising some made up bullshit. Bee, I haven't read to much into BEE but it's probably the exact same and the app developer Bee Games pretty much sums it up.

    I know what you're thinking, what makes you have right to make these types of comments?

    First of all, in respect to this I would like to say, pi has been in 'development' since 2018. No open source content and the app just provides a non-monetary value on screen which simulates "mining" this isn't mining. If anything this is just a "tracking" method used to deploy tokens/coins (if somehow ended up on mainnet).

    The actual content on these non-existent coins are limited to what the website/app tells you. Little to no research has been done into this because it's so enclosed.

    People try and sell you this dream with these types of pointless things to gain more imaginary tokens. Using MLM/Ponzi tactics to gain more users is shady af.

    The team may have PhD's and may be legit but these people are not doing this for free. There are so many factors you would encounter researching the 'team'.

    Closed source, little information, bullshit marketing, MLM/Ponzi tactics is extremely shady. You're probably going to ask, well what do I have to lose even if it's not real.

    I mean let's just start with your personal data, constantly capturing data whilst using your phone? YOUR PERSONAL DATA IS WORTH MORE TO YOU THEN ANY CRYPTO.

    I know most of you know this and can see through this shady shit but this is more for the newer/less experienced people out there.

    Secondly to this, intermittent ads deploying to the app every now and then will also benefit the creators of the app considering millions of people use this pointless thing.

    Thirdly, the economics and tokenomics as an example would be as follows.

    Let's say the average person "mines" 5000 Pi/Bee 100 million when/if goes to main net and get listed on an exchange That would mean the total supply of this token/coin would be 500 BILLION.

    Price comparison/Prediction: Let's say it has the rough price of BTT (nearly 1trillion supply) divided by 2 so current price of $0.0001897 give or take, so that would mean your 5k Pi/Bee would be worth less than a dollar! 1 USD for all your personal data. Bargain!

    If you're in crypto and you're using these apps then I would change emails and phone numbers.

    On the AppStores it literally says that the company will be using your personal data and will introduce KYC gradually. Currently 8th on social media list (Apple App Store)

    "Socialchain" is the owner of pi app and website, there is very little information connecting these two but Pi gets shadier every time I try to research about it.

    I will be hosting a part two with further investigations, sources and technicalities, but for now just wanted to make people vigilant about this crap.

    Conclusion TDLR: Your personal data is worth more than $1 or in the current situation free Pi and Bee are pointless and currently non-existent. Please stop promoting this shit and making people download it with a dream of being the next Bitcoin as it's not going to be.

    Edit: Part 2 (Pi Network Scam) has been posted, some pretty interesting stuff has come to light, such as a court case between 2 of the 3 members of Pi's team.

    submitted by /u/Weflux
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    Coinbase vs Kraken for U.S resident ?

    Posted: 19 Jan 2021 10:03 PM PST

    Hello, I hope you guys are having a wonderful day. I have been wanting to invest in Cryptocurrency for a while. I am still studying, learning new things about Crypto every now then. I am not sure which exchange will be best to go for as a U.S resident.

    My major pro for Coinbase is it's FDIC insured while Kraken is not. And as far as I have heard, Kraken got outstanding Customer Service while Coinbase customer service is really bad. Plus Kraken got more coins too.

    People who is living in USA, what are your thoughts on Coinbase? And Kraken ? Which one do you guys prefer ? And what are your pros and cons for these two exchanges ?

    If I can get some insight from you geniuses, that would be great! Thanks 🙏🏽

    submitted by /u/WarHero04
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    Do you trust BlockFi with your cryptos?

    Posted: 19 Jan 2021 09:32 PM PST

    BlockFi offers upto 6% interest just for holding onto your cryptos and is backed by a lot of big names.

    However, the 'not your keys, not your coins' mantra has been spread non stop due to exchanges closing down accounts and/or Mt Goxxing.

    So what do y'all do?

    1. My coins stay off-line and only with me

    2. I leave a bit on exchanges and lending platforms to use as needed.

    3. My coins are sluts and leant out everywhere I can to maximise my total yield.

    submitted by /u/PM_ME_PLASTIC_BAGS
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    ARK's Cathie Woods on Bitcoin "...There is No Better Hedge Against Inflation." - Jan 8th 2021

    Posted: 19 Jan 2021 06:34 PM PST

    Bitcoiners use mining rigs as heaters as temperatures drop

    Posted: 19 Jan 2021 06:34 PM PST

    Part 2 (Pi Network Scam)

    Posted: 19 Jan 2021 05:08 PM PST

    The massive difference a little research can do is amazing. So after spending a couple of hours I have come to some interesting details some of which haven't been communicated directly to anyone via Pi or direct affiliates.

    So following on from part 1;

    From researching briefly; I am able to find the following:

    Ongoing court case: found on docketalarm (provides litigation alerts, legal filings and search tools for the US court system)

    Between ya bois Vincent McPhillip vs Nicolas Kokkalis et al 20CV368601 | California State, Santa Clara County, Superior Court : Wrongful termination unlimited (36)

    I have found the following about each team member:

    Not too much info on Vincent, from making his own t shirt design start up and borrowing money off his ma doing so, being in Stanford's blockchain club "blockchaincollective" with our man Nicolas Kokkalis but no sign of the other team member in that club. Personally, I think Vincent has a passion for blockchains but most probably got involved with Nicolas Kokkalis too much, orrrrr he's just as bad and doesn't give a fuck about anyone?

    What I found about Nicolas Kokkalis is that he owns a company called Gameyola, this company provides a monetization and distribution platform for casual Flash games on social networks, sound familiar? This company received an undisclosed amount of $ from Fbfund which at the time, was chaired by Chamath Palihapitiya, which also was VP of Facebook's user growth. Now Billionaire.

    I can't find any tangible information about Dr. Chengdiao Fan unfortunately.

    So, further investigations into the app itself; socialchain inc, the output for the app, cannot be found anywhere on any corporate databases in the US. Furthermore it links to a website socialchain. app which also links to the privacy policy for the app itself and options to sign in option which is linked to Facebook.

    During a swift read of the privacy policy for the app, which I have to mention hasn't been updated since 2018 I come across the following:

    Information automatically collected when you use our services When you use our services, we collect information about your usage of our apps, activities you have through our servers, such as what virtual goods you choose to send, how many you send, the number of friends you invite to our apps. Device Information. We collect device-specific information, such as the hardware model, operating system version, advertising identifier, unique application identifiers, unique device identifiers, browser type, language, wireless network, and mobile network information (including the mobile phone number). Device Phonebook. If you're using our mobile app, we may—with your consent—collect information from your device's phonebook. Location Information.When you use our services we may collect information about your location. With your consent, we may also collect information about your precise location using methods that include GPS, wireless networks, cell towers, Wi-Fi access points, and other sensors, such as gyroscopes, accelerometers, and compasses. Log Information. We also collect log information when you use our website. That information includes, among other things: * details about how you've used our services * device information, such as your web browser type, operating system and language * access times * pages viewed * IP address * identifiers associated with cookies or other technologies that may uniquely identify your device or browser * pages you visited before or after navigating to our website. * the pages or features of our Site to which a user browsed and the time spent on those pages or features, the frequency with which the Site is used by a user, search terms, the links on our Site that a user clicked on or used, and other statistics.

    Scary stuff.

    Full details of this should be read and fully understood to the extent of this entire wording is counter-intuitive. It's okay saying well Facebook, Twitter and even Reddit has these types of wordings etc, but the massive difference here is, those that are downloading this are giving their personal data to an unknown entity that has no physical address listed and isn't even registered. (If they are registered, they should display this) they have also listed they're not responsible for any mishandling of data, so again think about it, would you download it after reading this?

    Apologies for being so long-winded with this one. Everyone should have a right to privacy, even the gullible ones and shit like this shouldn't be shoved down peoples throats as grand marketing scheme.

    Splitting part 2 into 2, didn't realise Pi would be this long. BEE ready for the part 2.2 coming soon.

    Edit: sorry for layout once more

    submitted by /u/Weflux
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    Great Podcast on How Ripple’s Brad Garlicbread and Chris Larsen Dumped on XRP Bagholders

    Posted: 19 Jan 2021 08:01 PM PST

    You're welcome guys.

    Posted: 19 Jan 2021 03:40 AM PST

    I sold all my eths ( a good chunk) at 1002 because the price was stalling too much and wanted to convert it to BTC.

    Well fuck me because ETH fucking decided to moon the millisecond I pressed sold so you guys can thank me and fuck you Bogdanoff.

    Edit: I bought back in

    submitted by /u/LeChefromitaly
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    Many of Bitcoin's early adopters are now billionaires, among the wealthiest people in the world. But Satoshi Nakamoto's wealth could eclipse them all.

    Posted: 19 Jan 2021 10:21 AM PST
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