Cryptocurrency Double Spending FUD is already debunked by Andreas M.A. |
- Double Spending FUD is already debunked by Andreas M.A.
- Daily Discussion - January 22, 2021 (GMT+0)
- Don't check your portfolio and prices every 5 minutes. It is not healthy!
- Yellen: US government should consider benefits of cryptocurrencies and digital assets
- The Bitcoin Double-Spend That Never Happened. Case closed.
- Moons are a complete scam. Change my mind.
- PSA: It's OK, the Bitcoin whitepaper can be taken down from centralized websites, it's stored for eternity and immutably on Bitcoin's blockchain. (By the way, fuck you Craig Faketoshi Wright).
- You got 99 Shitcoins son but XLM ain’t one
- I'm jacked. I'm jacked to the TITS. ������������
- Andreas Antonopoulos Fights FUD With Facts. Bitcoin Is Safe And Worked As Expected
- Yellen’s written senate testimony regarding cryptos today, providing a more nuanced answer than her previous oral testimony
- Proposal to significantly decrease MOON earned from Memes.
- Bitcoin double spending news are just FUD
- Limit all post karma to 1000 to help distribute Moons more evenly across the sub
- President Biden to name former ripple advisor as OCC head.
- The Tether Problem: A Quantitative Analysis
- Grayscale Acquires $1,276,147,151 in Bitcoin in Single Week
- Exclude Bots in Moon distribution
- Rick & Morty Creator Sells Ethereum Art for $1.65 Million
- IOTA Foundation signs strategic agreement with South Korean OBSR Foundation and Tanglehub to jointly apply for smart city projects within South Korea and South East Asia
- Newbies to crypto: Long term gains are your friend.
- Two big lessons learned today
- Im wondering if it's more than coincidence that Black Rock happens to be entering crypto EXACTLY as therr is a 30+% pullback? Hard to believe they'd buy in at the top, or sit on the sidelines and let it keep rising. Guys like that are masters of market manipulation.
- I am getting calls and texts from family and friends about Bitcoin
- Bluzelle Confirms Feb 3 Mainnet Launch Date
- Relax Everybody
| Double Spending FUD is already debunked by Andreas M.A. Posted: 21 Jan 2021 08:48 AM PST https://twitter.com/aantonop/status/1352258125932371968 I'm sick and tired of FUD news having such a big effect on our markets, everyone says cryptocurrency is more volatile then traditional stocks, THATS NOT BECAUSE OF SOMETHING INHERENT TO THE MECHANISM OF CRYPTOCURRENCIES, ITS BECAUSE BULLSHIT NEWS IS NOT TOLERATED AGAINST STOCKS, TSLA stocks crashed 9% in just one day after Elon Musk smoked weed on a Joe Rogan show for fucks sake, Also, look at how much their stocks skyrocketed after the fact. Please share this tweet from Andreas, lets not let FUD bullshit control our narrative, innacurate news from a sketchy news source is spreading like wildfire [link] [comments]  | ||
| Daily Discussion - January 22, 2021 (GMT+0) Posted: 21 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:
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| Don't check your portfolio and prices every 5 minutes. It is not healthy! Posted: 21 Jan 2021 03:47 PM PST The title says it all. Many of us have been in the same situation in 2017 as the one we are in now. Four years ago I was checking prices every 5 minutes, imagining and calculating how big my future imaginary gains would be. Some nights when prices skyrocketed I literally couldn't sleep properly. Other nights I was worried about not selling the evening before, wondering how much the market will fall while I sleep. If you are in this for the long-term, don't do this to yourself. Honestly, it is okay to be interested in crypto, read about it, discuss it, etc. But being obsessed with it, constantly checking prices, calculating future profits is not a healthy thing to do. It consumes a great proportion of your time and energy, and it's basically an emotional rollercoaster. Wishing everyone a successful and healthy HODL! :) [link] [comments]  | ||
| Yellen: US government should consider benefits of cryptocurrencies and digital assets Posted: 21 Jan 2021 02:40 PM PST
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| The Bitcoin Double-Spend That Never Happened. Case closed. Posted: 21 Jan 2021 02:57 PM PST
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| Moons are a complete scam. Change my mind. Posted: 21 Jan 2021 06:45 AM PST If Reddit Incorporated™ wanted to create a new way of allowing empowering users to govern the rules of subreddits, they would have created this system within the parameters of reddit.com like they have with every other aspect of this website. An erc20 shitcoin wasn't necessary. Paying people to have social interactions creates a toxic environment. The social interactions become less natural and more forced, people are disincentivized of sharing opinions that goes against the grain, and overall a less engaging discussion. Even at food giveaways, you see people abuse the system by getting back in line thinking no one noticed to get more free stuff. r/CryptoCurrency admins knew that they would be sacrificing the quality of the community, they just wanted to create a coin that could generate network effect and therefore real world value, to enrich themselves by printing themselves disproportionate supply. They name it "Moon" coin, but contradictory claim it's not meant to appreciate in value. That's just legal jargon so they don't get raided by the feds. It's just the same old scam ICO shit with a twist. Most of us are here to discuss crypto with strangers on the net, not to yield farm some erc20 shitcoins issued by reddit admins. This community is better without it. [link] [comments]  | ||
| Posted: 21 Jan 2021 11:24 AM PST The multi-sig transaction it's stored in: 54e48e5f5c656b26c3bca14a8c95aa583d07ebe84dde3b7dd4a78f4e4186e713 The way you can decode it (Python 2 implementation). Now try to censor this Faketoshi, chances are you can most likely do it your centralized shitcoin called BSV, but on the actual Bitcoin it will always be here, available to anyone willing to run a Bitcoin node. [link] [comments]  | ||
| You got 99 Shitcoins son but XLM ain’t one Posted: 21 Jan 2021 04:17 PM PST Just in from the latest Stellar Quarter Report
For those who aren't aware, Unionbank is one of the top 10 largest banks in the Philippines The Philippines (35.2 billions) is also among the top 5 countries that hold the largest remittances transactions. Furthermore, majority of Filipinos do a lot of transactions online through digital wallets like Perahub, Coins.ph(another anchor on Stellar Network providing Philippine Peso Stablecoin), and Gcash. More great news: In Q4 of 2020, the issuance of four new stablecoins were announced to the Stellar network. ● Argentine Peso (ARST) and Brazilian Real (BRLT), issued by Settle Network: The first stablecoins for Argentina and Brazil went live in November of 2020. Both are fully-backed by domestic currencies and preserve close 1:1 rate between them and local currencies, involving bank grade KYC verification, AML controls and blockchain monitoring. ● Euro (EURB), issued by Bitbond and Bankhaus von der Heydt: In December 2020, Bitbond and Bankhaus von der Heydt (BVDH) announced the first stablecoin issued directly by a banking institution on Stellar and one of the first of its kind in the crypto market. The Euro (EUR) stablecoin (EURB) is live and available today on the Stellar network. ● US Dollar (USDC), issued by Circle: The Centre Consortium announced Stellar as an official chain for USDC, one of the world's leading compliant and regulated digital dollar stablecoins. It is expected to be live in Q1 of 2021. TLDR: Stellar is being used in real life by moving money from Singaporean Dollar to Philippine Peso. More stablecoins are added to Stellar including Argetine Peso, Brazilian Real, and Euro while USDC is expected to come to Stellar this Feb 2021. If you want to buy XLM, download Lobstr or Solar(non-custodial) or Anchorusd(custodial you earn interest on your XLM) and Coinbase. You can also do it via exchange like Binance, Kraken etc. [link] [comments]  | ||
| I'm jacked. I'm jacked to the TITS. ������������ Posted: 21 Jan 2021 04:19 PM PST Is it weird? That I don't feel anything anymore with what's going on. Maybe I'm disconnected from reality. Maybe it's because I'm going insane ever since I started working from home last year. I've dumped over $14k+ on crypto gradually since last year. and I'm up 100% so far. I know it's speculative, and I'm aware of the fact that it could go to zero. But god damn it, the autist in me just doesn't give a shit. Every time I think about selling, I picture Gigachad talking to me: Gigachad: Hey king, I see you are still holding. Me: Why yes, I have Q-Carbon hands, how can you tell? Nothing makes sense to me anymore. The stock market. The crypto market. Shit, I just bought a coin the other day because I thought the fucking logo looked cool and I did absolutely 0 research on it. I just bought a stock because some autist on WSB made a DD post with rocket emojis attached. Part of me knows I'm fucked. But the other part just keeps screaming "BULLISH" over and over. Am I retarded? Perhaps. But if you are retarded like me: TO THE MOOOOOON 🚀🚀🚀🚀🚀 [link] [comments]  | ||
| Andreas Antonopoulos Fights FUD With Facts. Bitcoin Is Safe And Worked As Expected Posted: 21 Jan 2021 10:18 PM PST
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| Posted: 21 Jan 2021 02:03 PM PST Bitcoin and other digital and cryptocurrencies are providing financial transactions around the globe. Like many technological developments, this offers potential benefits for the U.S. and our allies. At the same time, it also presents opportunities for states and non-state actors looking to circumvent the current financial system and undermine American interests. For example, the Central Bank of China just issued its first digital currency. Dr. Yellen, what do you view as the potential threats and benefits these innovations and technologies will have on U.S. national security? Do you think more needs to be done to ensure we have appropriate safeguards and regulations for digital and cryptocurrencies in place? Answer: I think it important we consider the benefits of cryptocurrencies and other digital assets, and the potential they have to improve the efficiency of the financial system. At the same time, we know they can be used to finance terrorism, facilitate money laundering, and support malign activities that threaten U.S. national security interests and the integrity of the U.S. and international financial systems. I think we need to look closely at how to encourage their use for legitimate activities while curtailing their use for malign and illegal activities. If confirmed, I intend to work closely with the Federal Reserve Board and the other federal banking and securities regulators on how to implement an effective regulatory framework for these and other fintech innovations. Link to the official senate testimony: https://www.finance.senate.gov/imo/media/doc/Dr%20Janet%20Yellen%20Senate%20Finance%20Committee%20QFRs%2001%2021%202021.pdf [link] [comments]  | ||
| Proposal to significantly decrease MOON earned from Memes. Posted: 21 Jan 2021 05:35 AM PST ''I wish I had kept my 1,700 BTC at $0.06 instead of selling them at $0.30, now that they're $8,00!'' We probably all know what meme/comedy post I'm talking about, because it gets reposted every memeweekend. People are waiting till memes are allowed again, and reach the top getting thousands of upvotes with bad reposts who are at least 3 years old. This proposal therefore limits the MOON earned from memes to 10% of the karma gathered. This means that if a Memepost gets 5K karma, the OP will gain MOON over 500 karma. At the moment there's a strong disconnection between quality content and earned MOON. This is unfair to people that put effort into making well-thought-out quality posts. Other subscribers here see that it's really easy to get to the top with low effort copypasta memes, creating a snowball effect. [link] [comments]  | ||
| Bitcoin double spending news are just FUD Posted: 21 Jan 2021 09:42 AM PST
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| Limit all post karma to 1000 to help distribute Moons more evenly across the sub Posted: 21 Jan 2021 11:11 AM PST Currently, if somebody makes a post that hits the very top of the sub, it is likely to receive somewhere between 2000 to 8000 upvotes. This could be for anything from a link to a news article, or a reposted meme. Now, there's nothing wrong with that. People can upvote what they want, it's how reddit works. But for Moon distribution, I would like to propose that all posts are limited to 1000 karma. This would allow a more even distribution of Moons across the sub. It is also arguably a fairer distribution. Currently, one person may receive a disproportionately large amount of Moons for something as simple as sharing a CoinTelegraph article, while many others, who may be active members of the sub, offering helpful advice and support to others, will receive a fraction of the amount of Moons in comparison. 1000 karma worth of Moons for posting a meme or sharing an article is still a huge amount in comparison to the amount you get for offering helpful advice in the comment section, so it's not like top posts won't be incentivized, it will just allow a fairer distribution. Limiting all posts to a maximum of 1000 karma would still enable popular posts to be rewarded generously, while allowing a greater share of the Moons to be distributed amongst other users. [link] [comments]  | ||
| President Biden to name former ripple advisor as OCC head. Posted: 22 Jan 2021 01:33 AM PST
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| The Tether Problem: A Quantitative Analysis Posted: 21 Jan 2021 07:37 PM PST Warning: this is not a short post. TL;DR The price of Bitcoin is likely to fall at least 15%, and as much as 75%, if it turns out that Tether has been improperly minting Tethers that are not backed 1:1 by USD. Again, IF. Intro As I'm sure everyone is aware by now, Tether has been in a multi-year legal battle over its legitimacy. However, there seems to be a lot of disagreement about the potential consequences of Tether folding, so I decided to do some analysis. Please know that this analysis is not infallible, as it makes many assumptions and is based on an economic concept that may not translate directly to the crypto market. It is simply an attempt to gauge the potential impact of Tether imploding. Method and Analysis Where The wiki page on velocity of money offers a good description: wiki In our case, however, we already know how many times each dollar is spent in the Bitcoin market, defined here as the market cap of Bitcoin. It is simply the annualized 24-hour volume of bitcoin transactions divided by the market cap. To do this, I used CoinGecko. In fact, I also used the Wayback Machine at https://archive.org/web/ to pull data from every six months or so (depending on availability) going back to November 2018. It appears CoinGecko lumps Bitcoin transactions other than spot in with total Bitcoin volume, so I calculated velocities for both stated (all) and specified (spot only) transactions. Here are the results for velocity calculations. For the sake of this analysis, I will only talk about the specified volume as we're only interested in spot transactions. As you can see, July 2019 is a bit of an outlier in terms of Tether volume, but overall the numbers are remarkably steady over more than two years. This has been accompanied by a slow but steady decrease in velocity, which makes sense as more and more bitcoin are held rather than actively traded or spent. What we will focus on is the fact that in general, more than half of all bitcoin trade volume is conducted in Tether. That is the root of the problem. Going back to our formula now, we can assume that T – the real value of transactions – can be held constant regardless of the other variables. Doing so, and moving things around a bit, we get And consequently, the change in P is equal to the change in V*M. Now, we need to make some assumption about the supply of money in the Bitcoin market, to which Tether adds about $25b at the time of writing ($24b just a week ago when I grabbed all my data). I have made the simple assumption of one trillion dollars. I will show you that this is a relatively conservative estimate in regard to the question at hand, regardless of the actual value, but for now just go with it. From here, we can calculate the total multiplier impact of Tether on the price of Bitcoin, by multiplying Tether's velocity multiplier by its money supply multiplier. And there we have it. Tether, primarily through vastly increased trading volume, has more than doubled the price of Bitcoin. But wait! This is totally fine as long as all Tethers are legitimate. If they were, then even if Tether itself didn't exist, other stablecoins could have picked up the slack to meet trade demand and the market would look the same today. It only becomes a problem if it turns out that money flowing into Bitcoin, and cycling through the market more than 11 times this year, is fraudulent money. So, what do we do? We calculate the V*M multiplier effect on P in scenarios in which less than 100% of Tether is legitimate. Then, we can compare the resulting multiplier to the base case multiplier and see how much lower the price would be. Here is a sample of how that is done. Now, which scenarios are realistic? I'm sure many of you have read that Tether's lawyer stated in April of 2019 that Tether was only about 74% backed by cash equivalents (source). That was when there were only 2.8b tethers in circulation! That number has increased nearly 10x in less than two years(!!), and it seems Tether's printing has only ramped up over that time, as reflected in Tether's market cap. As such, I doubt Tether is any more than 74% backed currently, and I personally believe it's much less than that. So, let's take a look a few different scenarios of Tether backing, which we interpret in the model as the amount of legitimate Tether's and the amount of trade conducted in fully backed Tether: initial analysis As you can see, increasing the money supply above $1t has very limited impact on the estimated Bitcoin price reduction, whereas lower money supply assumptions start making Tether's $25b contribution to supply more relevant. For reference, $20t money supply is the total US money supply in its broader interpretation (M2). Regardless, it's very clear that the less Tether is truly backed by USD, the bigger the potential price drop. We're not done yet though. In our current model, we assume that the 55/45 volume split applies to money flowing into Bitcoin. However, the 55% is Tether's representation among all Bitcoin transactions. This includes pairs like ETH/BTC, LTC/BTC, DOT/BTC, and Bitcoin being sold for USDT. This article on the same topic, posted to Medium a week ago, estimates that the closer to 70% of all Bitcoin purchases are made in USDT. Let's take another look at the same analysis if we start changing that assumption, holding market supply steady at $1t: sensitivity analysis Clearly, this assumption has massive impact on the results. So, what do I do? That is the question. What we've shown here is that, regardless of Bitcoin's price, it is subject to drop significantly if it is revealed that Tether has been improperly minting Tethers that are not backed 1:1 by USD. However, it is not unimaginable that the market could collectively shrug off the news and recover quickly after a small drop. On the other hand, this would certainly be the biggest fraud in recent crypto history, which could shake out all confidence built up in the market since the 2017 bubble and bust. In such a scenario, I wouldn't be surprised if prices fell below that maximum drop predicted here. It could also be the case that somehow, against all odds, Tether is actually fully 1:1 backed and will escape from its legal woes exonerated and unblemished. In short, there's really no telling what the hell is going to happen, but any rational person should be wary of this situation. For what it's worth, I spent the last week selling off about 20% of my portfolio, and plan to sell off progressively more as (and if) the market continues to bubble up. Parting Thoughts The article referenced above is really worth a read. It's what inspired me to undertake this project. One of the things the author points out is that you can't trade USD for Tether very easily, and it's common knowledge that redeeming USD from Tether (the company) is extremely difficult, to the point of being prohibitive. According to CoinGecko, USDT/USD made up less than 1% of Tether volume. This isn't all that surprising on its own, but it gets a little weird when only one out of the top 10 Bitcoin exchanges has both USDT and USD trading (see here). Even more weird, that one exchange is Bitfinex, which is owned and managed by the same people as Tether. Bitfinex is the exchange that was accused of manipulating Bitcoin's price in 2017, using Tether. Spooky stuff. As I mentioned, my analysis is not infallible. Any criticisms or follow-ons are welcome. Here is a link to the Excel file containing all data and analysis. [link] [comments]  | ||
| Grayscale Acquires $1,276,147,151 in Bitcoin in Single Week Posted: 22 Jan 2021 01:10 AM PST
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| Exclude Bots in Moon distribution Posted: 21 Jan 2021 06:41 AM PST In the latest distribution, one bot earned 14612 karma u/coinfeeds-bot that rank 4th on the list. Imo Moon is community rewards that should only be given to real users who are engaging here not any kind of bot, that bot simply summarizes the linked article by copy-pasting some top lines of the article. Just think if many users here start making their bots and after taking approval from mod they will start farming moons here, then only bots will be here and the bot owner will be chilling with free moons every month. Some will say it should be given some percentage of karma share but don't you think this moon is also a governance token so Humans should only have the right to get a governance token. So that's the proposal, Vote for community users Wellness [link] [comments]  | ||
| Rick & Morty Creator Sells Ethereum Art for $1.65 Million Posted: 22 Jan 2021 02:24 AM PST | ||
| Posted: 22 Jan 2021 12:22 AM PST
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| Newbies to crypto: Long term gains are your friend. Posted: 21 Jan 2021 08:52 PM PST If you are new to crypto/investing and have bought crypto in the past few months you don't really want bitcoin to moon to 100k now. You actually want it to hit 100k at the end of 2021/2022. That gives you plenty of time to hold your coins for a year and get your gains into those sweet, sweet long-term gains tax brackets. Then, if you want to sell and take profit you get to keep a lot more of it. If you are interested in other coins, add them into a dollar-cost average strategy instead of selling your existing coins and losing that buy date. For me, having a bit more of a strategy around financial goals and tax implications helps me feel less impulsive during these drops. Corrections and drops are fine because I can't even sell some of my coins until end of the year and a drop pushes the peaks a bit down the road. Sadly, I am too impulsive and reactive to be able to just say HODL and that be enough to stop me from selling. Additional knowledge and motivations to hold have been helpful to me. [link] [comments]  | ||
| Posted: 21 Jan 2021 03:26 PM PST
Ps. No worries I still HODL but I just feel like trash after spending my last bank account balance on the bottom of the 10% dip yesterday Pps. Why am I so retarded and own only Ethereum and Altcoins that literally all dumped 25% today.... [link] [comments]  | ||
| Posted: 21 Jan 2021 08:22 PM PST
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| I am getting calls and texts from family and friends about Bitcoin Posted: 21 Jan 2021 02:22 PM PST I have around 13 missed calls and a lot of unopened messages from family members and friends panicking about the price of Bitcoin falling. I'm guessing they bought high. I'm considering not replying to them. What would you do? Would you respond to them? [link] [comments]  | ||
| Bluzelle Confirms Feb 3 Mainnet Launch Date Posted: 21 Jan 2021 03:47 PM PST
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| Posted: 21 Jan 2021 03:04 PM PST Biden has just took office and is about to spend a lot of money for vaccine rollout and massive stimulus package. I know the prevailing logic around here is that will reduce dollar value and increase crypto prices but it does not work like that. Other countries rely on a strong dollar and will buy up dollars to keep it at a high level. What we are seeing is Chinese money and other countries going into dollars instead of crypto. Once everything settles down they will invest in crypto again. Don't panic, don't sell, chill the F out. Stay well. [link] [comments]  |
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