Cryptocurrency Daily Discussion - February 12, 2021 (GMT+0) |
- Daily Discussion - February 12, 2021 (GMT+0)
- Andrew Yang��������: “As mayor of NYC - the world’s financial capital - I would invest in making the city a hub for BTC and other cryptocurrencies.”
- Feb 11 - Vote for the Coin of the Week! who's gonna win this Week?
- If you think Bitcoin is complicated, wait until you learn the Federal Reserve is not federal and has no reserves.
- Central Banks Want to make their own crypto. They’re the f*cking reason crypto was invented in the first place. To end the tyranny and BD
- Jack Dorsey, Lil Wayne, and Jay-Z Commits 500 BTC ($23.7M) To Bitcoin Development
- Most undervalued cryptocurrency: Monero (XMR) — DD
- First publicly-traded bitcoin ETF in North America approved
- Only Hold Coins You'd Happily Hold in a Bear Market (feat. How I Turned 40k+ LINK Into Zero)
- Don't worry, you're still early! Wanna know why?
- Anyone else caught in a permanent loop of never spending gains for fear of reducing their holdings and never holding back contributions because we’re still so early?
- SEC Commissioner Peirce Says Market Is Ready for a Bitcoin ETP
- I am dumb, don't be like me
- Crypto Nears $1.5 trillion As Bitcoin Surpasses World’s Biggest Banks
- Any of you have this feeling that ADA is too good to be true? The coin is promising to do a lot of great things.
- December 2017 Vibes
- Jack Dorsey and Jay-Z to set up 500 BTC blind Bitcoin trust in India, Africa
- Miami Going Full Crypto: Salaries, Fees and City Treasury in BTC
- IOTA: Together with Dell Technologies and Intel, we're thrilled to introduce the world-first demonstration measuring the trustworthiness of data. Another big step toward data security in Project Alvarium.
- Is speculation really your goal in life?
- You're not a day trader! You'll make more money by picking good projects and holding onto them
- Irrefutable proof that the crypto market is going to crash any day now.
- PSA: You don't **have to** buy a full bitcoin, ethereum, etc.
- Deep diving through penny Cryptos on KuCoin
- Miami Officially Considers Putting Government Funds in Bitcoin
| Daily Discussion - February 12, 2021 (GMT+0) Posted: 11 Feb 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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| Posted: 11 Feb 2021 03:00 PM PST
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| Feb 11 - Vote for the Coin of the Week! who's gonna win this Week? Posted: 11 Feb 2021 05:35 AM PST
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| Posted: 11 Feb 2021 02:40 PM PST Bitcoin has auditing built in.Fed denies an audit ever year. Money isn't real, it's just an idea agreed upon by the masses that it holds value. But bitcoin is real. Fiat money have a double spend problem. convert it to Bitcoin. This is I want to tell all of you today. Thanks. [link] [comments]  | ||
| Posted: 11 Feb 2021 10:18 PM PST As the title suggests, I read that central banks want to make their own coin. It obviously angers me and we should all not only refuse to adopt the coin should they create it, but we should demand they not be allowed to make one. They've been getting by making free money every time they print fiat currency for any nation. Ever since people stop trading shit for other shit and started trading money for things central banks have been ripping everyone off. It's funny because at first they acted like crypto was never going to be a thing, then they wanted a piece of the action, and now they want to control it again. I say hell no. I'm sure somebody's gonna tell me to calm down, and they'll be right, but i'm passionate about stuff like this when it comes to putting the power back in the peoples hands [link] [comments]  | ||
| Jack Dorsey, Lil Wayne, and Jay-Z Commits 500 BTC ($23.7M) To Bitcoin Development Posted: 12 Feb 2021 01:21 AM PST
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| Most undervalued cryptocurrency: Monero (XMR) — DD Posted: 11 Feb 2021 01:03 PM PST
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| First publicly-traded bitcoin ETF in North America approved Posted: 11 Feb 2021 03:58 PM PST
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| Only Hold Coins You'd Happily Hold in a Bear Market (feat. How I Turned 40k+ LINK Into Zero) Posted: 11 Feb 2021 05:17 PM PST Warren Buffett famously said that you should only buy something you'd be perfectly happy to hold if the market shut down for 10 years. Now I know we all had a great week, but I think many of you, especially the newcomers, need a reality check when it comes to some of these coins that are pumping. Like many of you, I was here throughout the bull market of 2017. I bought 3 Bitcoins that summer for about 6k, and found out about a lot of other cool projects going down in crypto. I dabbled in a few alts, OmiseGo, AntShares (now NEO), district0x, just to name a few. As the year went on, I made bolder and riskier moves, and by early January of 2018, I had a portfolio of about 100k, about half of which consisted of about 42k LINK, and an assortment of mid-major coins like Ether, Icon, OmiseGo, Golem, etc. For all of these coins, I had done semi-extensive research; I knew almost exactly what these coins were for, what they were trying to solve, who was behind them, and why they clicked. I'm not here to shill those coins (I don't hold any of them in a meaningful capacity right now). I'm just saying I knew what they were. Then I made possibly the worst financial decision of my life. I got too anxious. My portfolio wasn't rising as quickly as it was back in the summer, so I got impatient and started looking into so-called "moonshots", the "next (insert successful alt)". Within days my portfolio was heavy on coins like OysterPearl, Bounty0x, Publica, WaltonChain, and so on. Then you all know what happened. Three of these are now dead projects. WaltonChain, which is the only coin that's still on any relevant exchange, has never really recovered even during this market, and is widely considered scam-ish. I still made some money off crypto, but not even close to what I would've made, had I stuck to what I knew and believed in. I know some of you think you'll never make the mistake of buying into shitcoin fever. But shitcoins all look like gold until they're not. And we all feel like ingenious early investors until we're in a bear market, holding onto random coins that we're not 100% sure what they do. I know some of you think you'll just cash out at that point and walk away. But that's like a Vegas gambler thinking they'll walk away from the table while they're ahead. They never do and you won't either. But if you're going to stay on the table, bet on projects that you at least understand and believe in long-term. When you invest in alts, ask yourself:
I believe in crypto and its potential, both as a technological gamechanger, and a speculative asset. That's why we're all here. But while we are, let's all be smart about our money. tl;dr: Don't chase pumps and shitty moonshots; invest smart. Also, while we're here, it might be fun to share some nostalgic dead projects. For me it's $BNTY. [link] [comments]  | ||
| Don't worry, you're still early! Wanna know why? Posted: 11 Feb 2021 09:27 AM PST To all the new guys who regret not investing in crypto earlier: You're still early. Wanna know why? #1 - Most people still don't have any idea what cryptocurrencies are. They might've heard the word "bitcoin" once, but can't really tell what it is, or if there are other cryptos as well. #2 - Media coverage is mostly negative, lobbying against crypto is harder than ever. However, this is slowly, but steadily shifting. #3 - Most cryptocurrencies are still under development and are far from a finished product. Even those dev teams that claim to have a finished product are optimizing and polishing their network/platform. #4 - Price discovery is still going on, the ratio of supply and demand are changing 24/7. Also, the volatility is very high, which scares off many investors. #5 - Most merchants don't accept cryptocurrencies. We are starting to see the signs of mass adoption, but there's still a long way to go. #6 - Cryptocurrencies are still lacking in user experience. For the average user, buying, selling and trading cryptocurrencies are still considered complicated, and while Coinbase and co. have very simplified platforms for purchasing cryptos, improving UX is still an ongoing process. Feel free to add anything to this list in the comments! [link] [comments]  | ||
| Posted: 12 Feb 2021 02:17 AM PST Every month i think "i'll treat myself with some gains" then every month I say to myself "but that'll reduce my holdings" so then I think "maybe i'll contribute a bit less this month and buy something" but then I say to myself "but you're passing up a buying opportunity at the best time in history (aside from the past), so I contribute that month and the cycle continues....for ever Now to be clear, i have a good job and i'm not at all materialistic , so this doesn't negatively impact my life, it's just a funny loop to be in. The reality is that I probably don't actually want the treat as much as I want financial freedom in the future, and that's no bad thing I guess. [link] [comments]  | ||
| SEC Commissioner Peirce Says Market Is Ready for a Bitcoin ETP Posted: 12 Feb 2021 03:40 AM PST
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| Posted: 11 Feb 2021 08:03 PM PST I bought doge at 3.6 and sold at 3.7 after a day doge reached 8 in my currency... I bought ADA at 26 and sold it at 29 , ADA is 66. I bought PNT at 60 and sold it at 59 panicking.. PNT is currently 134. All these in just 10 day time. The dumbest person alive. [link] [comments]  | ||
| Crypto Nears $1.5 trillion As Bitcoin Surpasses World’s Biggest Banks Posted: 12 Feb 2021 03:41 AM PST
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| Posted: 11 Feb 2021 10:31 PM PST ADA promises to you
My skepticism meter went off the charts when i learned about promise no. 1 What do you guys think? [link] [comments]  | ||
| Posted: 12 Feb 2021 02:21 AM PST Anyone else getting late 2017 vibes these days? - Huge gains every day - Alt coins mooning - Checking portfolio every few minutes - Everyone saying this time it's different - A sense of mania - Everyone is a trading genius - Reddit filled with new investors 2018-2020 certainly felt different. I made a few trips to this subreddit in the bear years, and it was a ghost town. Front page was mostly random news links with 10-50 upvotes. Feels like deja vu. Truly I hope things are different this time around. Cheers [link] [comments]  | ||
| Jack Dorsey and Jay-Z to set up 500 BTC blind Bitcoin trust in India, Africa Posted: 12 Feb 2021 12:55 AM PST
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| Miami Going Full Crypto: Salaries, Fees and City Treasury in BTC Posted: 11 Feb 2021 11:51 PM PST
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| Posted: 11 Feb 2021 06:06 AM PST
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| Is speculation really your goal in life? Posted: 12 Feb 2021 12:22 AM PST
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| You're not a day trader! You'll make more money by picking good projects and holding onto them Posted: 11 Feb 2021 11:10 AM PST Trying to time the market and make money is a great method to lose your crypto. Reading t-charts and analytics won't get you anywhere in this volatile market. You can't treat crypto like stocks. The market moves to quickly and is too unpredictable. Experienced traders will lose money here trying to use strategies that may work in other markets, and so will you. No one has crypto figured out. If you want to make money in crypto, pick projects that show value and that are of interest to you and hold them. Don't sell them for the latest craze. If you do your own research and pick crypto's that legitimately have value, you'll be in good shape. It may take time before you start to see great ROI but that's ok. Don't be fooled into thinking you can time the market. I have tried to time the market multiple times thinking that I could sell a crypto as it was going down and then buy more of it when it bottomed out. Each time I was wrong and would have made much more money just holding. Pick those projects you see value in and hodl. [link] [comments]  | ||
| Irrefutable proof that the crypto market is going to crash any day now. Posted: 12 Feb 2021 03:02 AM PST My 60 year old technologically illiterate mother just asked me what cryptocurrencies to invest in. May God have mercy on us. Jokes aside, it's great to finally see crypto start to become more mainstream. In the long term this is good for everyone but as the old adage goes; when your grandmother asks you about bitcoin, buckle up and hold on to your knickers. [link] [comments]  | ||
| PSA: You don't **have to** buy a full bitcoin, ethereum, etc. Posted: 11 Feb 2021 04:23 PM PST title. If you were to divide up all the bitcoin on the planet among all people on the planet evenly, it would come out to like 0.002 BTC per person or something like that. I hope you learned something new! [link] [comments]  | ||
| Deep diving through penny Cryptos on KuCoin Posted: 11 Feb 2021 07:36 PM PST With all the money coming in from big-time investment companies now, I decided to see what was available at the bottom to see what potential there was for a coin from the bottom pile to emerge. DOGE coin has brought a lot of activity to the super-cheap coins, often with people just throwing darts to see what happens, but I wanted to see if I could take a more data-focused approach. Of course, as anyone knows, data outputs are only as good as your inputs. I have several inputs that I thought were important when looking through the endless coins hovering around 1 c. or less on Kucoin. As a way to filter through the thousands of coins available, I decided to only look at cryptocoins available for trade on Kucoin through BTC. Although I did this primarily to cut down on researching time, I also think it's beneficial to look at coins within a proven exchange who curate their offerings to get the riff-raff out of the way. The 6 factors I looked at:
I ignored all the coins that had no limit. Not only do I think that no limit coins have a greater chance for manipulation and scam potential, but I think limiting the coin supply also helps increase the value once it's clear the coin is sticking around.
After I narrowed it down to coins that had a limited supply, I looked at coins that were in a good zone for the percentage of circulating supply. My hypothesis is that if the percentage is too low (especially given how long the coin has been around), then it's not catching on and may not ever catch on before the project fails. If it is too high, then I missed out on the rocket gain potential. Still, I would rather buy a coin that has been sufficiently adopted, then one that isn't in the market.
I gave a premium for newer coins over ones that have lost their momentum and steam. There's more excitement surrounding newer coins that can catch on with the larger market.
I used a metric of the number of repositories available on GitHub for the coin combined with the recency of activity. This is a great way to weed out the dead projects and reduce the likelihood of finding a scam coin.
I created another metric out of news published on the coin from external sources, amount of twitter activity, and subreddit activity surrounding the coin project. This was also done to gauge the support base of the community, though it was admittedly a more subject input factor.
This was another purely data metric that is used as an indicator of relative of activity. Active coins are less likely to die out and the buyer is more likely to find a seller to enter at a reasonable price. Coins with a very high market cap, but low volume traded indicates that the coins are being hoarded. How did the coins do within this system? I went through over 70 coins that were listed on KuCoin around 1 c. or less. This I whittled down to 22 coins that had a limit on their circulation for closer inspection. Of these, about half had a market cap OVER volume trade ratio that I felt was too high (>10), indicating a high degree of their coins not having much trading activity. XNS and NPXS were the clear winners, being the only coins with ratios < 1. This is somewhat muddled by NPXS recently pumping upwards. In terms of circulated supply percentage, I wanted to find coins around the 60-90% mark as explained before. Of the 22 coins with a limit, TOKO and XNS had the lowest circulated supply of 9 and 10% respectively. There were 4 coins above 90%: NPXS, IOTX, GOM2, and MWAT. The last two appear to be dead projects by all accounts, their social media presence and available news is nowhere to be found. There were 5 coins in the sweet spot: QKC, ANKR, ONE, CV, and SNTVT. In terms of GitHub activity, ONE had doubled the amount of repositories compared to the next two (IOTX with 74 and NIM with 70), with the median being 20 repositories available. This was a clear outlier, ONE also had a lot of recent activity. There were several coins that I could find no evidence for (TONE, SNTVT, GOM2, and MWAT). For social media and recent news, I wasn't expecting to find a whole lot for this class of coins. The most active coins appeared to KLV, NPXS, ONE, IOTX, and SNTVT. This was a much harder factor to accurately compare and contrast across different coins and maybe the least useful for finding potential good coins, but I think it was more valuable for helping to weed out those that have very little momentum (GOM2, TOKO, MTV). Which coins does the system target? The only coin to do well on all metrics was ONE. Lots of activity on the project and seen on social media, fairly newer generation project (Summer 2019), good ratio of Market cap to volume traded, 75% circulated supply showing support and growth potential, and still at a low price, despite being 4th (out of 22) most expensive coin I looked at. This coin seems to be a diamond in the rough. It will be interesting to see what ends up happening with it and to see how good this system is. KLV does well on all the metrics, except by FAR the worst Market cap OVER volume traded ratio. This indicates a great number of coins have been bought, but it's not being traded. This will be an interesting test to see how important this input factor is. It also is just about to enter the sweet spot zone, being at 40% circulating supply. It being the newest coin out of the 22 I evaluated could be the reason why and a good chance to get in on it early. NIM is also just beyond the sweet spot of 60-90%. Its subreddit isn't too active, it has decent twitter activity, and passionate followers. It had the third most GitHub activity. It seems to be just a little bit off on all the metrics, but not bad in any of them. IOTX is outside of the sweet zone for circulating percentage at 96%, the door isn't quite closed on it. It performed well on all the other metrics, social media presence/news, second most Github activity. My last spot would go to either ANKR or XNS. ANKR also does well by all the metrics and in the sweet spot of 65%. It deserves attention. But I'm intrigued by XNS being one of the newest coins of the 22 I evaluated. It has an extremely low market cap to volume traded ratio, which might be statistical noise because it has the lowest market cap out of all 22 coins, yet in the middle at 13th most total activity. It has good activity on Github and some social media presence. I think it will be an interesting coin to watch. To Summarize My top 5 coins to target for penny long-term potential: 1) ONE 2) KLV 3) NIM 4) IOTX 5) ANKR Honorable mention: XNS [link] [comments]  | ||
| Miami Officially Considers Putting Government Funds in Bitcoin Posted: 12 Feb 2021 01:20 AM PST
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