Cryptocurrency Daily Discussion - February 15, 2021 (GMT+0) |
- Daily Discussion - February 15, 2021 (GMT+0)
- The ultimate guide to earning passive income with cryptocurrencies ��
- Someone just dropped $100M in BTC and $60M ETH on the market: Discount crypto for all!
- Beware giving crypto advice to your friends and family
- Valentine’s Day Massacre
- Mastercard, Wirex, NANO and the Mastercard VP who likes it.
- Why crypto markets appear to dump instantly - a simple explanation of bots and stop losses
- Do not take crypto investing advice from rich people
- Buy the dip or stay poor forever
- Market Goes Crazy Day After Day and No One Bats an Eye, 5% Dip and We’re Crying Market Manipulation?
- Whales aren't selling right now. Buy the drip or HODL and you will be fine
- Blockchain firm aims to build crypto city in Nevada desert - Bought land in 1/2018 for ~$175,000,000 USD.
- If you're in here for the long term, never sell, only buy
- Elon Musk says he supports top dogecoin holders selling most of their coins. He feels too much concentration in dogecoin was the “real issue”
- VP of Business Operations at MasterCard posted this.
- Today's front-page shows that people invested more than they are willing to lose
- To all those posting about massive red colors - this is NOT the dumping or correction you’ve been waiting for - you need to be better prepared if this ‘just 5% fall’ worries you
- Stop telling people to buy the "dip"
- Russia’s Opposition Leader Has Received 658 Bitcoin to Take Down Putin—Now Worth $32 Million
- Richard Craib of Numerai (Numeraire/NMC Coin) talking to Lex Fridman about his AI assisted hedge fund that awards users NMC crypto for participating.
- Price of Bitcoin Every Valentines Day.
- Where Cardano is staked around the world as of 2021.02.15
- MasterCard will propably not support Bitcoin
- 2 Bitcoins is now equal to 10000 Pizzas
- Years later, my girlfriend asks what all that magic internet money I play with is, and I still pull out this video...
- Three things I wanted to discuss
| Daily Discussion - February 15, 2021 (GMT+0) Posted: 14 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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| The ultimate guide to earning passive income with cryptocurrencies �� Posted: 14 Feb 2021 05:46 PM PST Most of us are here to make money. Some people try trading, while others just HODL and check the prices every 5 minutes. And even though many of us have made decent amounts, neither of these two ways can guarantee a reliable source of income. But what if I told you that apart from trading and holding, there are other ways that can make you money in the crypto space? Well, in this guide I have collected most of these methods so that you can pick out the ones you prefer, and start earning passive income with crypto. #1 - StakingStaking is an activity where a user locks or holds his funds in a cryptocurrency wallet to participate in maintaining the operations of a proof-of-stake (PoS)-based blockchain system. It is similar to crypto mining in the sense that it helps a network achieve consensus while rewarding users who participate. Staking can be an excellent way to increase your cryptocurrency holdings with minimal effort. You can stake various cryptocurrencies such as DOT, ADA, AVAX etc. By doing this, you earn a certain APY (annual percentage yield), usually between 4%-25% depending on how long you are willing to lock your cryptos. You can either stake a coin from a wallet such as Exodus, or you can stake your coins on a few exchanges (e.g. Binance). As always, DYOR before locking your crypto for 30-60-90 or more days. #2 - AirdropsAn airdrop, in the cryptocurrency business, is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency. The famous Uniswap airdrop made 49 million UNI claimable for users whose address has ever called the Uniswap v1 or v2 contracts. Each address could claim 400 UNI (worth ≈ $7400), which is a nice sum for doing almost nothing. It is worth keeping an eye out for possible future airdrops, so make sure to follow the news! :) #3 - Reddit MoonsMost of the users here already know, but for those who don't (and with a large influx of new members, it's possibly a lot of you guys), you can earn Moons for upvotes on this subreddit. But what are Moons? "Moons exist as ERC-20 tokens on the Ethereum blockchain, where they are managed by a suite of smart contracts that handle balances, transfers, distribution/claiming, and purchasing Special Memberships. The smart contracts and mobile apps have been reviewed and audited by Trail of Bits, an independent security firm with blockchain expertise. As blockchain tokens, Moons are independent of Reddit. Once you've earned them, neither Reddit nor moderators can take your Moons away or decide what you do with them. They're all yours." In order to be able to claim your Moons, you'll need to download the Reddit mobile app and set up your vault (click on your icon at the top left of the home page). The main purpose for moons is to own a share of the community (vote on governance/distribution proposals) as well as redeem them for the premium membership, which allows you to change the color of your username, embed gifs in comments, add custom flair, etc. To sum it up, you earn Moons by commenting and posting - something that you'd normally do anyway. Just don't forget to create your vault! In case you want to, you have the option to sell your Moons. The current price of Moons is $0.071380 / coin (15/02/2021), and you can only sell your moons on Honeyswap at the moment. #4 - Nexo, Celsius, etc.This method is very similar to what banks offer on your investment, except that on Nexo and Celsius you can earn up to 6-14% just by keeping your crypto, stablecoin or fiat on their site. While the saying "not your keys, not your coins" is true, these companies are insured and have never been hacked before. As far as I know, both of these sites have a daily payout system, and you can deposit and withdraw funds whenever you want to. If you choose this method, it might be worth splitting your investment between these sites in order to prepare for the worst and also to be able to claim offers and bonuses on both sites once available. #5 - Coinbase EarnNot a "passive" method, but I felt like I should add this one to the list. Many of you are already familiar with the "It ain't much, but it's honest work" meme referring to Coinbase Earn, a program where you can earn a few coins by watching educational videos of certain cryptocurrencies and solving the quizzes that follow said videos. In my country, currently Graph, Compound, XLM, CELO, Band, and Maker are available through Coinbase Earn, and if you complete all of these crypto's quizzes, you can earn up to $30-$40. In crypto, of course. Compared to the previous methods, it truly ain't much, but it's honest work, and who knows how these coins will perform in the upcoming years. Worth a shot! If you have any other suggestions or feel like sharing your experience on passive income and cryptocurrencies, feel free to do that! :) The above references are an opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. [link] [comments]  | ||
| Someone just dropped $100M in BTC and $60M ETH on the market: Discount crypto for all! Posted: 14 Feb 2021 06:51 PM PST Over the space of about 10 minutes, someone dropped $100M in BTC and $60M in ETH on the market causing BTC and ETH to drop. The price is already starting to head back up, so if you're a "buy the dip" HODLer, now's your chance! EDIT: An hour later and the trading volume is still minimal. Lots of strong hands not scared by the sudden drop. I wouldn't be surprised to see them keep trying until they find the coins they're looking for. Remember that no sellers at the bottom of a short means the seller gets squeezed. [link] [comments]  | ||
| Beware giving crypto advice to your friends and family Posted: 14 Feb 2021 02:05 PM PST Just because your portfolio is up 200% over the past two months, doesn't mean you're an investing expert. If family or friends come to you looking for advice in what coins to pick, be very careful about where you direct them. You should point them in the right direction towards useful resources and explain what the technology is behind certain projects. If you find yourself telling them that they can double there investment in a months time, you're making a big mistake. If the market crashes again like it did in 2018, you've just damaged a relationship. I told multiple people close to me about crypto in December of 2017 before the big crash, and when things went downhill in 2018, I looked like a fool. I was over Make sure that you make it very clear when answering questions, that you don't know what the future holds and that they should only invest what they can afford to lose. [link] [comments]  | ||
| Posted: 14 Feb 2021 06:39 PM PST Wait. So I'm supposed to believe that Valentine's Day is some special event that would induce a selling frenzy amongst we crypto nerds? Like magically all of a sudden we got girlfriends that we need to buy Valentine's Day gifts for? Nice try whales, we don't have girlfriends around here. BTFD[link] [comments]  | ||
| Mastercard, Wirex, NANO and the Mastercard VP who likes it. Posted: 15 Feb 2021 02:34 AM PST
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| Why crypto markets appear to dump instantly - a simple explanation of bots and stop losses Posted: 14 Feb 2021 10:49 PM PST When there's big dumps in the markets, you always hear things like, "a whale just dumped $XXX million dollars of bitcoin in 10 minutes!" That is almost never the case. It's true there are usually large events that trigger it, but you need to understand how trading bots and stop losses work. A stop loss is a certain price at which a trader, usually with the assistance of a bot, will decide their losses are too much and will sell their crypto to prevent even greater losses. For example let's say bitcoin is at $45k, and a bot has a very conservative stop loss set for $43k. Then say there's some price swings that bring the price down to $43k. The bot will now instantly dump its crypto to prevent further loss before the market goes down even further. Now, let's say there's not just one bot, but thousands. And let's say some bots have stop losses in the $44.9k range, and some in the $44.8k range, and so on, and so on. That small market swing which brought the price down to $43k just triggered hundreds or thousands of stop losses. So what happens if there's not enough buyers to support all these bots selling? The price continues to drop, and it will drop until it finds enough buyers to support all of these sellers. Remember these are bots. They are software programs that can trade instantly, so this massive sell-off and dump in the market happened in the span of just a few minutes. To untrained eyes it will look like an instant drop, which they conclude could only happen from a single massive sell, but that's not he case. Traders love times like this. They're able to watch the buy and sell volume and estimate when the buying support will sustain the sellers, and that's when they start buying. A lot of noobs see a giant red line in the charts and assume it's a good time to buy. Don't. Traders say, "don't catch falling knives" because if the buyers aren't yet supporting sellers, that red line is going to get a lot longer. This is a super simple explanation, but you should at least be familiar with the concept if you're going to dabble in crypto. Good luck! [link] [comments]  | ||
| Do not take crypto investing advice from rich people Posted: 14 Feb 2021 05:52 PM PST Firstly, very few people know much about crypto investing. It's typically a crap shoot and anyone who tries to show you technical analysis or research on chart movement is talking out of their ass. Most of these people got lucky, rode the bull to the top, then told everyone they did it based on x, y, & z instead of dumb luck. Secondly, rich people are risking an extremely small amount of their wealth (or in the case of Elon Musk, his companies wealth, not his own). Sure, it sounds amazing when someone invests hundreds of millions of dollars into crypto. But they are gambling with a tiny relative amount. When the average /r/CryptoCurrency user invests into crypto, they are likely putting a lot at risk in terms of net worth percentage. When the rich lose, they might not be able to buy their 50th car. When the poor loses, they go without food. The risk is not the same regardless of the raw amount of money lost. In summary: while no one actually knows what they are talking about in terms of crypto investing, you should put more value on the opinion of the person who risks 50% of their $10k net worth vs. the billionaire who puts 0.0001% of their net worth in. The poorer person has more to lose. Those of you in the US at the moment will know about this really well. You have the 1% (politicians) deciding the fate of millions of people who desperately need a stimulus check. They don't grasp how a few hundred dollars makes such a big difference to someone who struggles to put food on the table. Their crypto advice is irrelevant. [link] [comments]  | ||
| Buy the dip or stay poor forever Posted: 14 Feb 2021 06:58 PM PST Im seeing a lot of posts from newbies asking "what's happening." For those who are new here this is a small shakeout to try to make you sell your coins, it might go down further, it might not. If you have been eyeing a certain coin that you want to buy, this is your opportunity. Good luck and as you already know dont invest more than you can afford to lose. [link] [comments]  | ||
| Market Goes Crazy Day After Day and No One Bats an Eye, 5% Dip and We’re Crying Market Manipulation? Posted: 15 Feb 2021 01:17 AM PST Cmon guys. Take a breather. We're going to have days we don't gain 20%. And that's okay. Some days we may go down 5%, 10%, even more. And on those days, put your phone down, and check back later. Or if you must, zoom out and look at the 7 day, 30 day, 90 day charts and see what's been going on. Crypto is a volatile space, and definitely a long term play, so don't panic. The people who do the best are those that just buy and forget about it for years. Keep hodling. We got this. [link] [comments]  | ||
| Whales aren't selling right now. Buy the drip or HODL and you will be fine Posted: 14 Feb 2021 06:49 PM PST If you look at the Bitcoin graph there was a sudden sell off like 1 hour ago probably from one whale trying to drive the price down just to buy it at a lower price or take profit. Whales control Bitcoin. Take a look at Whale Alert, there were 1 or 2 whales selling 500 BTC 1 hour ago. Also considering no other whales are selling the price dip is just retail investors panicking. Don't panic the big boys aren't done yet so the cycle isn't done. [link] [comments]  | ||
| Posted: 14 Feb 2021 07:37 PM PST
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| If you're in here for the long term, never sell, only buy Posted: 15 Feb 2021 12:18 AM PST In the past few months we had a lot of signals to sell: BTC dropping 41k > 30k in a matter of weeks, ETH going sub 1k, XLM dropping because of XRP lawsuit, then it shot up because of Ukraine, now it pumped again this bullrun, and now everything's in red today. After each massive dip the coin price increased further than the past normal, those who HODLed were rewarded massively. All of these dips were only there to shake out the weak hands and people full of doubt. Not only that but if you sell your coins you will get obliterated by taxes, it's double the loss. And once again we're seeing an usual weekend dip and many people (newbies mostly) asking "what's happening?", wondering if they've lost their money. Don't fear the dip, enjoy the dip. With the increasing institution and media interest, and many people getting into the crypto it's near impossible that crypto will fall back. Even say, we enter the bear market again, it will only be a short span of accumulation phase where you get coins at an discounted rate before we get another bullrun and profit from it. Dip is best what can happen to you, it's an opportunity to accumulate more of your coin, if it only went up you wouldn't get such good deals. And my most important argument is that soon we'll enter the internet coin age, and now's the best time to get as many of them as you can. You'll be the early adopter and you'll do waaay better than people who get caught with hands in their pants with their useless FIAT. If you sell the dips you will have less currency to use later! Never sell, only buy. [link] [comments]  | ||
| Posted: 14 Feb 2021 04:44 PM PST
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| VP of Business Operations at MasterCard posted this. Posted: 15 Feb 2021 01:57 AM PST
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| Today's front-page shows that people invested more than they are willing to lose Posted: 15 Feb 2021 01:32 AM PST The current front-page is filled with 'buy the dip' or 'why dips happen', so I immediately rushed to check CoinGecko. BTC is 2,2% lower than yesterday, ETH 3,4%. Both are up double digits compared to 7 days ago. This is not a dip! If you are scared right now, you've invested to much in Crypto and aren't comfortable with losing it. Over the years, it's not unlikely to see -10% declines in a single day. Today is nothing. I wouldn't call anything above $40.000 a dip and the next retrace could go as low as $20.000 again. I'm very bullish on the long term, but if you're freaked out by knowing your BTC could lose 60% in value of the coming month, you've invested to much. We'll start preparing the suicide hotline posts for you again once that happens. The positive news is that BTC has come back stronger after every dip. If we go down to $20.000, we'll bounce back to $80.000 after. But please stop freaking out if we don't go up every single day. [link] [comments]  | ||
| Posted: 14 Feb 2021 07:47 PM PST
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| Stop telling people to buy the "dip" Posted: 15 Feb 2021 02:27 AM PST As one of the many that was a part of the 2018 crash, don't trust anyone when they tell you to buy the dip, that bots are dumping the prices to accumulate, that paypal is involved so there's no way it'll ever crash, that people sold to buy gifts for valentines day or chinese new year. At best these people genuinely believe this is true, at worst they are trying to increase demand to drive up the price so they can sell, but no matter what they have no way of knowing if btc is overpriced or not. We just had a MINOR correction from ~50k btc down to ~47k. This may be just a small dip on the way to the moon, but it is definitely not the fire sale you guys are looking for to dump all your savings in. Crypto is super volatile and irrational, it's not like stocks where the market value is at least in part rooted in actual financial data, in crypto a coin can double in value if someone makes a well written post or a funny meme on /r/cc. I'm not claiming to know if btc is going up or down, I'm just saying, invest carefully and take profits when they have a meaningful impact on your life [link] [comments]  | ||
| Russia’s Opposition Leader Has Received 658 Bitcoin to Take Down Putin—Now Worth $32 Million Posted: 14 Feb 2021 06:55 PM PST
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| Posted: 14 Feb 2021 03:33 PM PST
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| Price of Bitcoin Every Valentines Day. Posted: 14 Feb 2021 12:46 PM PST
Flowers. Chocolates. Fancy dinner. Should have bought her bitcoin. [link] [comments]  | ||
| Where Cardano is staked around the world as of 2021.02.15 Posted: 15 Feb 2021 02:12 AM PST I make a site for monitoring the Cardano network, where relays are located around the world and how much ADA is staked in them. All the data is pulled from directly from the blockchain and is viewable here. A few screenshots of the site are below. I'd be interesting in doing the same for other chains if there is demand for comparison, think it could be interesting to compare against other chains and identify the gaps in each respective network. Individual Relays (Validators) Regional level view of stake and relay distribution First time I'm posting this in this subreddit, so if you want help exploring the site, click here for a 5 minute video tutorial. Ask any questions you want and ~24 hours from now I'll round them up and answer them in video format, similar to what I did here. TL;DR: The more spread out the infrastructure and stake is on this map, the more powerful the Cardano network is relative to other blockchains. Spread your stake out into new areas, pools and infrastructure providers! [link] [comments]  | ||
| MasterCard will propably not support Bitcoin Posted: 15 Feb 2021 02:49 AM PST Based on this Message, they focus on stable coins which don't fluctuate in value as much. Given that Bitcoin is propably the best counterexample of a stablecoin, they will very likely choose a coin which is mit litecoin, Bitcoin, etc. I just read this and thought i post something because all the posts in regards to MasterCard and Crypto were seen as BTC/LTC etc. welcome messages when in fact it is not but the opposite. (Which makes sense tbh because Bitcoin is one of the worst options for a currency) [link] [comments]  | ||
| 2 Bitcoins is now equal to 10000 Pizzas Posted: 14 Feb 2021 06:33 PM PST Over 10 years ago a guy a guy bought 2 Pizzas 🍕 and paid 10000 Bitcoins for them. And now 2 Bitcoins will get you 10000 Pizzas 🍕. The circle is complete. This is based on rates in Papa johns pizza's. I will now have a big slice along with coke and watch bitcoin March to 50k. Enjoy your pizzas brothers. [link] [comments]  | ||
| Posted: 15 Feb 2021 01:21 AM PST
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| Three things I wanted to discuss Posted: 14 Feb 2021 09:44 PM PST #1 Crypto AdviceThere's a lot of newcomers asking for advices and investing "tips" to get into crypto. As with human behaviour, they go to the closest person they know in crypto for that. Now, here comes the problem...when the average joe/ new comers start looking at crypto, It means that we are in a bull run. And bull run in crypto is different from bull runs in stonks and every 0.000001 BTC HODLer becomes a financial advisor. People in stocks are happy with 10/15% gains they have in 12 months and consider it as an ATH and godsend. But, for crypto..10/15% growth can happen with a "Whale Alert" or a Tweet. The same goes for bears too...now when a company/firm experiences that 15/20% or above loss when all is REKT for them. For example, take the E-cigarette company Juul.. Altria's $13 Billion Juul Investment Is Going Up in Smoke It happened cuz the government cracked up on it for promoting teen addiction and stuff, they lost almost $13 Billion! Now in crypto, ask the 2018 HODLers like me and others what happened when Crypto crashed., *Insert vietnam flashbacks*. A few people still HODL and most people panicked and this sub was full of suicide help posts and Veterans helping out newbies to HODL and don't worry. So, conclusion: 15/20% loss is almost an "uncommon" event in crypto. Now, imagine what happens when that newbie friend/close one you suggested (shilled maybe) some coins sees these 15/20% loss?..They will break and history repeats. Let them decide for themselves...let them tip their toes with a small amount of DCA and experience loss. I am here with 300% gains BECAUSE I lost money on XRP and it's promises. Just because your portfolio is up 100% in this bull market doesn't make you a successful investor AND also you shouldn't advise anyone! And firstly, who the hell is showing/revealing their portfolio to these people? Have you lost any sense?..There was a post where a guy bought BTC from his allowance money but when his mother discovered, she made him SELL as she thought BTC was a scam of wealthy people! Never ever reveal your funds to friends/relatives or anyone, there's enough surveillance from the block scanners and you shouldn't help the cause even more. TL;DR : Just because you are in gains, doesn't mean you should advise someone..true HODLers and investors are shaped by losses/ bear markets not by their gains. And for god's sake, don't reveal your portfolio to anyone! #2 The Meme RantI see many people requesting/ ranting to ban the memes and keep the sub healthy. Seriously, that's the solution? Memes are already banned on weekdays and only allowed on the weekends. What's more better? The days are categorised...weekdays can be used for discussion and stuff like these. Don't want to see memes? don't visit the sub in the weekends. I too feel the memes are becoming too mainstream too but the same people UPVOTE the same repost memes that some users upload. Want to heavily reduce the incentive to reposters...See for the OC tag and maintain a "RepostSleuthBot". DOWNVOTE reposted/ memes you don't like. Enough downvotes and people will learn that this sub won't encourage reposted/low effort memes. Banning memes just kind of makes the sub look like some boring investor people sharing news articles and shilling coins and having discussion like these. When crypto goes mainstream, memes/top posts from here show up in r/all and events like that encourage more newbies to get in. What do ypou think happens when memes are banned, the next up are some ETH maxi accusing "ETH Killer" articles as shilling and want to ban them..it goes on and on and on...! Just UPVOTE what you like and DOWNVOTE what you don't like. #3 Survivorship BiasIf you don't know what it means, here's a quick video with Excellent explanation , Not a fan of videos?..Here's a Wikipedia Article , TL;DR?.. I recommend watching the video but, survivorship bias is when you ask/ take advice from people who SURVIVED some event. Just like that, in crypto too..people tend to ask advice/ follow crypto investors who have 100/1000% gains, But the problem is that these people worked out well! Yeah, you heard it right...these people had all the factors worked out for them..so it might be their LUCK too or SKILL, we can't tell which one!...But, what we can do is, ASK THE PEOPLE WHO LOST MONEY!..yep! that's right, ask those people who lost money and then try to NOT DO those mistakes! This for sure is better than asking a person who got rich!.... Consider this scenario, two people want to invest in crypto in 2018! The first guy invests in ETH because he saw all the clickbait/Twitter shillings. The second guy too saw the same videos BUT about XRP(Yep that's more like me lol). The second guy thought XRP was cheaper and can get him more coins(We all have been there). Fast forward to today/2021...A new guy wants to ask these people what would they advise him.. The ETH guy says..
All these things are true...BUT, the man got in because of Youtube clickbait/ Twitter shillings and will be on "TOLD YOU SO". The XRP guy says..
Now all these are true too...BUT the ETH GAIN guy's statements can be seen all day 24/7 on twitter and youtube and the XRP LOSS guy's wisdom can be rarely seen! TL;DR ? Never ask "What to do" advice from crypto gainers...ask "What not to do" advice from people who sustained losses. [link] [comments]  |
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