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    Cryptocurrency Daily Discussion - January 25, 2021 (GMT+0)

    January 25, 2021

    Cryptocurrency Daily Discussion - January 25, 2021 (GMT+0)

    Daily Discussion - January 25, 2021 (GMT+0)

    Posted: 24 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 The prior exemption for karma and age requirements is no longer in effect.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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    ETH breaks ATH of $1440!

    Posted: 24 Jan 2021 04:30 PM PST

    Congratulations to all that have held since the beginning, congratulations to all that have accumulated since 2017, congratulations to all the ones that just bought last night. You all have helped ETH reach a new all time high. This is a great moment in crypto. Congratulations 🍾

    submitted by /u/CMADBF
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    I think this might be the first time bitcoin was ever mentioned on reddit. The price at the time was 6 cents. Some of the replies are exactly the same thing you hear today when people are debating the value proposition of bitcoin.

    Posted: 24 Jan 2021 10:32 PM PST

    Ethereum will become the main asset in 2021; Its potential greatly exceeds that of Bitcoin, and investors beginning to understand this

    Posted: 24 Jan 2021 11:49 AM PST

    Quant (QNT) Gains Global Approval and Acceptance - Business Partnerships including SIA, Europe’s leading payments provider network

    Posted: 25 Jan 2021 02:47 AM PST

    I created a simple website that shows what price each crypto would have to be to flip Bitcoin, and how much you would need to have to then become a millionaire

    Posted: 24 Jan 2021 07:46 AM PST

    Seven Years Ago Vitalik Buterin Revealed Ethereum on BitcoinTalk. It's Been Quite A Journey

    Posted: 25 Jan 2021 02:59 AM PST

    MrBeast just announced in his livestream that he will be buying 1 million dollars worth of Bitcoin to send to the moon.

    Posted: 24 Jan 2021 02:00 PM PST

    In MrBeasts livestream he announced that people can send images to the moon for 10 dollars. He then stated that he will take that money and buy bitcoin with it (total 1 million usd) and he will put it on a flash drive and send it to the moon. Check out shopmrbeast.com/moon for more info and he is live on YouTube right now, search MrBeast. 1 million usd is not exactly a lot of money, roughly 32 btc, but it will be interesting to have bitcoin keys sitting on the moon surface. Having that bitcoin locked will also be interesting to see it sit in literal cold storage until someone finds it? What are the implications of future recovery? Interesting for sure.

    submitted by /u/Fizzdizz
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    Grayscale Announcement Coming Tomorrow

    Posted: 24 Jan 2021 05:09 PM PST

    https://twitter.com/sonnenshein/status/1353487914592837634?s=21

    Gotta assume it's one, or multiple, of the coins for which the trusts just leaked.

    LINK, Tezos, BAT, Livepeer, MANA, FIL

    🤔🤔🤔🌙🌙

    submitted by /u/kal2210
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    CoinMarketCap Spotlight on Twitter: NANO

    Posted: 24 Jan 2021 04:39 PM PST

    PSA to Newbies coming into Ethereum and Bitcoin: Don’t buy from any exchange that doesn’t allow you to actually withdraw your coin

    Posted: 24 Jan 2021 09:54 PM PST

    Bitcoin follows a pattern in bull markets: This is the accumulation phase before the next run up

    Posted: 24 Jan 2021 09:56 PM PST

    Bitcoin generally follows a pattern in bull markets:

    1. Huge run up getting everyone excited and loading up bags

    2. Goes up just a little bit more to get people leveraging and taking out loans (sentiment is now lambos and moons)

    3. Sudden and immediate dump wrecking leveraged longs (still higher then before the run up in step 1)

    4. Rebound upwards to wreck shorts (does not reach highs in step 1)

    5. Second and much larger dump to destroy remaining paper hands (still higher than step 1)

    6. Smart money i.e. greyscale, microstrategy and fat ass whales accumulate (sentiment has changed to doom/ptsd)

    7. Slow and sudden rise as OTC goes up and whales buy from weak hands on exchanges

    8. Repeat from step 1 (multiple times)

    9. Bubble pops and btc is dead (despite being much much higher than its previous all time high)

    submitted by /u/PM_ME_PLASTIC_BAGS
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    Investing in Bitcoin is as Safe as Gold And Bonds, Says former White House Director of Communications Anthony Scaramucci

    Posted: 25 Jan 2021 01:47 AM PST

    New ‘market fear’ index lets traders bet on crypto volatility

    Posted: 24 Jan 2021 05:45 PM PST

    Is anyone on youtube interesting to listen to?

    Posted: 25 Jan 2021 12:47 AM PST

    Every crypto channel ive attempted to watch on youtube has been a struggle. I feel like im taking more of an ear beating than learning anything because they are so dull and lacking any charisma. What im looking for is like a lew later equivalent for crypto.

    submitted by /u/Grunchie
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    Looks like the transfer of wealth that was promised by Bitcoin already started here on Reddit. /r/wallstreet bets is currently robbing Wall Street institutional investors on GME stocks and squeezing all of their short positions. It is the biggest WS money heist in history and it ain't even over.

    Posted: 25 Jan 2021 04:20 AM PST

    The IPFS Innovation Grant Program

    Posted: 25 Jan 2021 01:41 AM PST

    Uniswap, Aave Inching Closer to Top 10 as Chainlink Keeps Setting New Highs

    Posted: 24 Jan 2021 05:21 PM PST

    PSA: Each Governance poll proposal need at least 4.8 Million moons to pass, use Your voice and Vote!

    Posted: 25 Jan 2021 03:02 AM PST

    PSA: Each Governance poll proposal need at least 4.8 Million moons to pass, use Your voice and Vote!

    Hello friends, as we are reaching out the end of the current voting phase of the Governance polls I noticed that none of the Current governance polls have reached the Minimum Threshold to pass!

    ​

    According to "New Moons Are Ready ! (Round 6) ":

    "For a poll to pass, its winning option needs to have enough Moons to meet a decision threshold. This decision threshold will be set to a minimum of 10% of the Moons supply to start with. "

    This Week threshold is around 4.8Million Moons (You can check it out within the Reddit App)

    ​

    https://preview.redd.it/p0leh7wflgd61.jpg?width=1440&format=pjpg&auto=webp&s=6524e639aa6137bf07ec468d6b543314946f2d97

    The only Pool that is near the Threshold to pass is "Exclude Bots in Moon distribution" , With 4,098,936 Moon votes in favor, we still need 721,181 Moons in favor to pass the poll.

    ​

    I Would like to ask you to give a quick look at the recent proposal and use your voice to Vote!

    I Don't care if you Vote in Yes or No, I just hope we can get more Moon votes in total.

    We have the power in shaping the Future of this subreddit, Lets use it!

    I'm Copy pasting "jwinterm" comment from the Stick, to make it easier for you to read these proposals:

    ​

    ​

    ​

    Vote!

    submitted by /u/DivineEu
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    Analyst Gives Three Reasons Why $1.6 Billion in ETH Just Left Exchanges

    Posted: 24 Jan 2021 02:32 PM PST

    Aave hits record $288 high as demand for flash loans and staking increases

    Posted: 24 Jan 2021 04:37 PM PST

    Ethereum new ATH Pushes Staked ETH to $4 Billion, Novogratz Targets $2,600

    Posted: 24 Jan 2021 10:16 PM PST

    Vape Company Uses VeChain (VET) to Fight Counterfeits

    Posted: 24 Jan 2021 08:42 AM PST

    Future price potential of Moons

    Posted: 25 Jan 2021 03:25 AM PST

    Hey fam, these are my musing about the future potential for the price of Moons. Please share your thoughts with me. I am so fascinated with this coin, and I am writing a review about it on my blog. DM me for the link to the article, I don't want to shill it here.

    Should I include in my hi-po early-on coins portfolio?

    I am slowly building a portfolio of exotic/very early-stage coins, like RPL... Moons can be a cool thing to have in the portfolio. I think that I would be totally happy to invest $100 into Moons and just keep on holding the coin indefinitely.

    In that portfolio, I would like to buy 20 coins, each for $100. I would be totally OK if all of them stay at the same price or go down.

    I also invest into the majors (BTC, ETH, LINK) and I invest around 5% of monthly profits on the continuous basis. So, the approaches are different.

    Moons are 0.01$ atm. If they go to $5, this will mean x500.

    Can Moons go to $5?

    I don't know. It's just that I am thinking long-term. And I am thinking that in 5-10 years, these coins like Moons will be like penny stocks, which means that folks won't be looking into that underlying factors, but they would be pricing tokens based on the overall category pricing. I mean, basically, if you look at the oil companies, then most of the companies will have generally the same trajectories, right? It's because they underlying factors are similar. But it's also because traders look at competitors and gradually equalize trajectories for various coins.

    So, I think that coins like these will gradually get to the zones of $1-$10. And Moons might be trading aroudn $5-$10. None of the traders will be thinking about "hmmm, I think that dev-lurve should be very happy with the $5 valuation". Instead they will be thinking like "well, I am seeing that the competitors for Moons (Bricks, e.g.) are valued at $70, so I am seeing the x10 potential from the current $5 price". Of course, if they think "Jesus, this would means x7000 for dev_lurve, i.e. by investing $100 today, I will end up with $700,000". But, hey, $700K is way too much for a holder of a local coin from reddit, right?

    But at the same time I've heard about a guy who bought around 100 BTC at $200, which means they have $8M...

    Continuous distribution of coins

    I am fascinated with the fact that Moons are continuously distributed among the active users of this sub. I think that this will create a vibrant ecosystem meaning that anybody who wants to liquidate their holdings into a stablecoin will easily find buyers (ofc, after the coin goes mainnet).

    This will prevent any drastic changes that are possible with shallow liquidity.

    And this might create the path up for the coin.

    Active users might end up buying coins from open market

    Active users might end up buying coins from open market, on top of their coins they've earned through content-creation activities here. Like, for instance, I am a contentwriter in crypto. Say, I make $1,000 per month. And I get allocated, say, 1000 Moons every month. After 12 months, I will end up with 12K moons. If the Moons stay at $0.01, this will mean that my holdings will be $120.

    I could potentially invest $10/month and buy 1,000 coins top of the native distributions. This deliver the following benefits:

    1. The number of coins shown next to my name will increase, which means more attention from other stakeholders.
    2. My actual purchasing price will be much much lower than the nominal purchasing price. For instance, if I purchase coins for only $10 per year, this will mean that I will get 12 000 for 0.00 and I will get 1000 for coins 0.01, which means that the price will be 0.0007. Thus, if the coins goes from 0.01 up to 0.1, this will result 140x :) Thus, I might decide to invest $1K into Moons once and just get on being active in this sub for years to come. If I get allocated 1K coins every month for 5Y, then my holdings will be like that (wih the price at $0.1):

    Holdings: a) direct purchase ($1,000 / 0.01 = 100,000 Moons) + b) allocations (1,000 Moons * 12mo * 5Y = 60,000 Moons).

    Actual purchasing price:

    $1,000 / 160,000 coins = 0.007

    Actual selling price at the end of the 5Y period:

    160,000 coins * $0.1 = $16,000, so 16x.

    Expected burn rate

    Currently, the sub enables only one in-platform use case - purchase of the Special Membership. It costs 1,000 coins per month, i.e. $10.

    If the monthly distribution is 5M, and if there 500 active subscribers, this will mean that the burn rate will amount to 500 x 1,000 = 500K, i.e. 10% from the overall mint rate.

    And this is what I love about this whole thing. The deflationary rate of 10% is quite cool. Since I want to keep on contenting here, maybe getting some Moons. And I might buy some Moons directly whenever that's possible. And I want to hodl Moons for 30Y, lol, like till 2050...

    So, with the deflationary rate at 10%, there gotta be som level of the continuous price appreciations. Even if case of super-huge price gyrations, we gotta see the overall market stakeholders come to realise the long-term potential of the coin and just keep on hodling it long-term.

    submitted by /u/dev_lurve
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    What happens to existing ETH tokens after ETH 2.0?

    Posted: 24 Jan 2021 09:13 PM PST

    Probably a dumb question. I have 1.5 ETH in my Celsius wallet. What will happen to this after ETH 2.0 launch? Would these be automatically converted or become useless? Or the token is not changing at all and just the backend is changing?

    submitted by /u/TrollBond
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    As a former PRL holder, I would’ve been impressed to see a coin do -99% three times in a row but wrong Oysters.

    Posted: 24 Jan 2021 05:51 PM PST
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