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    Cryptocurrency Daily Discussion - January 30, 2021 (GMT+0)

    January 30, 2021

    Cryptocurrency Daily Discussion - January 30, 2021 (GMT+0)

    Daily Discussion - January 30, 2021 (GMT+0)

    Posted: 29 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 The prior exemption for karma and age requirements is no longer in effect.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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    I love this space and you guys

    Posted: 29 Jan 2021 04:30 PM PST

    Let's be honest. Doge was just a distraction from GME. Nothing more.

    Posted: 29 Jan 2021 10:11 PM PST

    To all the new folks getting into crypto: Do not, I repeat, do not buy on Robin Hood.

    Posted: 29 Jan 2021 08:37 AM PST

    If you are buying on Robin Hood you do not control your coins and you cannot transfer them to a wallet or to any other exchange.

    In addition to this, trading is frequently halted due to volatility as we saw with Dogecoin yesterday which in some cases means you won't be able to sell on a massive drop, even with a stop loss order in place.

    There is also often a large gap between the current sell price and buy price which should not be happening for coins with decent volume.

    Buying on Robin Hood defeats the whole decentralized point of cryptocurrency which allows you to be in control of your coins. And if if you are coming here from WSB, fuck Robin Hood anyway. Don't support these slimy market manipulators.

    That being said, market manipulation also exists on any crypto exchange so be aware of pump and dumps, especially when coins instantly shoot up in price with no real rhyme or reason. Be safe out there.

    EDIT: Since so many are asking what exchanges to use, personally I would recommend Coinbase or even better Coinbase Pro as the fees are lower. From there you can transfer to Binance (Binance US In the states) or other exchanges if you wish to continue trading. You can also buy directly through Binance although I find their fees to be a bit steep. There are several other options too such as Kraken, Bithumb, Gemini, etc. although Coinbase is probably the easiest to use for beginners.

    submitted by /u/wolfmangpuck
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    DeFi is the way

    Posted: 30 Jan 2021 12:41 AM PST

    Premium quality tweet.

    Posted: 29 Jan 2021 05:37 PM PST

    To all the people spreading blatantly false info about Doge; STOP; you're hurting the bigger cause

    Posted: 29 Jan 2021 01:56 PM PST

    NO Doge is not like BTC

    There is no limited supply. It was specifically intended to remain cheap to facilitate FAST txns. Raising the price directly conflicts with this and will likely result in an influx of new coins into circulation. THE SUPPLY IS NOT LIMITED, UNLIKE BTC.

    ​

    NO the situation with Doge is not like GME in ANY WAY.

    GME happened because of SHORTS. AFAIK this is not something that exists in the crypto world. You are relying on other (retail, most likely) investors to take your bags when the shit hits the fan. This is not screwing over wallstreet or investment firms in any perceivable way. They don't give a shit about Doge, and they sure as shit don't have short positions, the entire catalyst to the price increase with GME, forcing them to buy down the road.

    ​

    NO you are not helping crypto by supporting a pump and dump.

    A LOT of new eyes are on crypto lately. If their first experience is holding bags after being sold a lie on a pump and dump (could be called a pyramid) scheme, they will most likely come away with a horrible impression of crypto as a whole.

    ​

    NO I'm not a hater

    Now is the time to prove a point, a point bigger than money. This is why GME was so pivotal, it is taking money from the rich fuckers who have gamed the system for so long with no downsides. That is not the same situation with Doge, a coin no reasonable corporate investor would ever take interest in. Despite how much the doge folk like to talk about Elon's mention of the coin, he made a few off hand remarks, and a week later changes his twitter bio to say #BITCOIN NOT #DOGE. Why would he do that if he was so sold on the idea? I don't even care if you pump and dump, but the MASSIVE amount of hype you're building, preying on ignorant retail investors, is concerning.

    ​

    I'm prepared for a massive backlash, but I'm fairly certain anyone who has done their research knows Doge is nothing but a shitcoin to be used for pump and dump (it fails at its intended purpose), kind of like MEME. It's quite literally a meme coin.

    ​

    If you want to hype a coin, maybe try one with an actual use-case and limited supply.

    submitted by /u/cynical_americano
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    First-ever zk-SNARK Sapling on a Proof of Stake blockchain is here. SHIELD protocol has been activated on mainnet today.

    Posted: 30 Jan 2021 02:33 AM PST

    As the title says, SHIELD protocol has been successfully activated on mainnet. PIVX is the first Proof of Stake cryptocurrency in the world that successfully implemented and activated zero knowledge cryptography on mainnet. It took 11 months from the first announcement (29th Feb 2020) till the final activation on mainnet.

    This is an important milestone for the entire cryptocurrency industry. I hope more Proof of Stake projects will introduce the hardcore zero knowledge cryptography in the upcoming months or years. We need more high quality projects.

    News were shared on official PIVX Twitter account.

    submitted by /u/Jacksonbear
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    And I thought 2020 was weird, welcome to 2021

    Posted: 29 Jan 2021 07:15 PM PST

    How it started & how it will end

    Posted: 29 Jan 2021 04:16 PM PST

    Incredibly sad watching new users throw money at Dogecoin not understanding that it's a literal joke with an infinite supply

    Posted: 29 Jan 2021 08:39 PM PST

    Man, the missing the GME boat really got into some people's heads.

    Check out the new posts on the Dogecoin subreddit. It's a mess of day old accounts who signed up for Voyager/Robinhood within the last 6 hours talking about DiAmOnD hAnDs and retiring because Dogecoin will "be bigger than GME".

    They also appear to be sharing a petition (not sure why) around social media sites to put a supply cap on it as well as stop all mining so that the value stops getting diluted.

    This may very well be the most delusional thing I've ever seen in the cryptosphere.

    Edit: lmao I found one of the petitions: https://i.redd.it/odz76d6khde61.jpg

    Edit: they're trying to get #capthecoin trending on twitter by harassing a former developer, BUT STILL BUYING despite being aware that the value is suppressed to 14 million new coins being generated each day

    Edit: noticing a lot of them asking others to 'like, share and react' to their reddit posts and to 'pin them on the front page'. not how that works here but sure.

    Edit: If you know anybody who is unfortunate enough to buy into this, you can show them this article where the founder talks about how people lost all of their money the last time this happened

    submitted by /u/skramzy
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    True

    Posted: 29 Jan 2021 04:22 PM PST

    Well done Reddit for the good fight (original content)

    Posted: 29 Jan 2021 04:43 PM PST

    Heaviest objects in the universe

    Posted: 30 Jan 2021 01:04 AM PST

    When you think you saw it all

    Posted: 29 Jan 2021 04:52 PM PST

    Whoops

    Posted: 29 Jan 2021 09:23 PM PST

    When the meme catches up with reality.

    Posted: 29 Jan 2021 04:20 PM PST

    When the trade goes wrong

    Posted: 29 Jan 2021 09:11 PM PST

    It’s been a wild couple of days.

    Posted: 30 Jan 2021 12:23 AM PST

    Pretty much sums it up

    Posted: 29 Jan 2021 11:49 PM PST

    When you haven't visited r/cryptocurrency in 3 days

    Posted: 29 Jan 2021 04:00 PM PST

    The New Hodler

    Posted: 29 Jan 2021 07:08 PM PST

    Mark Cuban: DeFi, Not Robinhood, Gives Money Back to Users; We got one shark on board boys!

    Posted: 29 Jan 2021 06:13 PM PST

    The state of r/dogecoin right now is ultra depressing

    Posted: 29 Jan 2021 08:03 PM PST

    There's so many people losing money because of a dumb misinformed hype perpetrated by people who only want to pump and dump.

    There's people confusing crypto for stocks, saying there's a revolution, sticking it to hedge funds, mimicking Wall Street bets. There are mass fundamental misunderstandings going on there. People thinking it's comparable to well-established alt coins, and BTC. A lot of people praying it will hit $1 without knowing that's almost impossible.

    Seeing lots of young people convince their parents and friends to waste vast amounts of money.

    If you try to warn them (for example this post from this sub earlier they all either abuse you or report you to mods.

    What's happening will wreck so many people's opinions of crypto when they're left with empty bags. If you're looking for some depressing content go there and sort by New posts.

    "It's easier to fool people than to convince them that they have been fooled."

    submitted by /u/Extinctathon_
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    Puking intensifies

    Posted: 29 Jan 2021 05:18 PM PST
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