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    Cryptocurrency Daily Discussion - February 27, 2021 (GMT+0)

    February 27, 2021

    Cryptocurrency Daily Discussion - February 27, 2021 (GMT+0)

    Daily Discussion - February 27, 2021 (GMT+0)

    Posted: 26 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:

    • 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 The prior exemption for karma and age requirements is no longer in effect.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:

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    You're hired!

    Posted: 26 Feb 2021 04:01 PM PST

    Ain't this the truth

    Posted: 26 Feb 2021 04:22 PM PST

    When you show your altcoin "portfolio" to a friend

    Posted: 26 Feb 2021 04:03 PM PST

    Literally my portfolio this week

    Posted: 26 Feb 2021 10:10 PM PST

    You learn to buy the dip

    Posted: 26 Feb 2021 04:36 PM PST

    Keep Hodling!

    Posted: 26 Feb 2021 04:02 PM PST

    Balls in too deep

    Posted: 26 Feb 2021 09:07 PM PST

    I just like the technology

    Posted: 26 Feb 2021 04:01 PM PST

    Buy the dip

    Posted: 26 Feb 2021 05:38 PM PST

    Buying Bitcoin at 58K

    Posted: 26 Feb 2021 11:34 PM PST

    But it keeps dipping

    Posted: 27 Feb 2021 01:56 AM PST

    A hint of green in a sea of red

    Posted: 26 Feb 2021 04:19 PM PST

    Bitcoin Explained

    Posted: 27 Feb 2021 01:28 AM PST

    ADA making this week alright

    Posted: 26 Feb 2021 04:51 PM PST

    Everyone here in 50 years

    Posted: 26 Feb 2021 04:01 PM PST

    How you doing my fellow papery hands

    Posted: 26 Feb 2021 10:05 PM PST

    One of the more convincing visual aids in support of widespread crypto adoption.

    Posted: 26 Feb 2021 10:59 PM PST

    Lol

    Posted: 27 Feb 2021 03:03 AM PST

    This is a problem. Reddit shouldn’t be allowing ads like this.

    Posted: 27 Feb 2021 12:34 AM PST

    The 2017 Bullrun had 6 30% dips between 2016 and 2017 before hitting new ATHs. We're still doing really well in 2021

    Posted: 26 Feb 2021 04:12 PM PST

    Top 25 Cryptocurrencies - 3 Pros, 3 Cons

    Posted: 26 Feb 2021 09:28 AM PST

    I haven't seen a thread aggregating what are perceived to be the biggest strengths and weaknesses of all of the top cryptocurrencies so I thought I'd have a go at that here as it is not only useful for me personally but probably also a number of other people relatively new to the world of cryptocurrencies.

    To start with, I've listed 3 pros and 3 cons for each of the top 25 assets. I'll try to remain objective. However, I am not a financial advisor, and this is based solely on my own reading and what I think seems to be some kind of consensus. If you think there needs to be things added or removed, let me know below and I'll endeavour to update this list in reasonable time. Also, please feel free to help me add any other coins below.

    I hope this can be a civil discussion without the need for tribalism.

    Edit: These just happened to be the top cryptoassets by market capitalisation at the time I wrote this. This does not mean they are the best cryptoassets. (Hence no NANO, Tezos, ZEC, ALGO, VET, etc.)

    —

    1. Bitcoin (BTC)

    Strengths

    • Widespread institutional involvement making it a store of value and fiat hedge

    • First mover advantage/name recognition = head start on real world adoption

    • Deflationary fully decentralised tokenomics

    Weaknesses

    • High transaction fees

    • Scalability issues = slow transaction times

    • Huge environmental cost due to proof-of-work concept

    —

    1. Ethereum (ETH)

    Strengths

    • First mover advantage in the smart contract space

    • Most developers, nodes, and dApps of any cryptoasset

    • Network is Turing complete = widespread use and potential application

    Weaknesses

    • Inflationary tokenomics (no fixed cap) - debate over capping inflation level

    • Scalability of transactions causing high gas fees

    • Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0

    —

    1. Binance Coin (BNB)

    Strengths

    • Enables smooth trading within largest exchange and BSC with low fees

    • Fast network due to centralised nodes

    • Greater crypto adoption/use of Binance = increased demand = increased value

    Weaknesses

    • Centralised control = contrary to ideals of cryptocurrency

    • Exposed to greater risk of price shifts due to centralised control of supply

    • Risks being treated as a security by SEC as tied to private company profit

    —

    1. Cardano (ADA)

    Strengths

    • Strong development team with evidence-based approach

    • Transparent roadmap towards decentralisation, scalability, and security

    • Deflationary tokenomics, involving staking support

    Weaknesses

    • Staking addresses link to wallet addresses

    • Long rollout with not all planned aspects fully usable

    • Censorship can exist due to separation of computational and settlement layers

    —

    1. Tether (USDT)

    Strengths

    • Most widely used/highest liquidity stablecoin on exchanges

    • Strong record of holding currency value against the dollar

    • Legal battle with New York Attorney General recently settled

    Weaknesses

    • Stablecoin so no more designed as an investment itself than the US dollar

    • Centralised supply, which can be minted whenever team decides

    • Perceived unscrupulous behaviour by team, misleading about how it's backed up

    —

    1. Polkadot (DOT)

    Strengths

    • Most widespread use of token governing cross-blockchain interoperability

    • Enabling secure parallel chains for scalability and reducing transaction fees

    • High degree of developer flexibility

    Weaknesses

    • High fees to run nodes to validate network

    • Limited developer adoption compared to Ethereum

    • Large amounts of assets held by relatively few wallets

    —

    1. XRP (XRP)

    Strengths

    • Enables fast cross-border payments, particularly targeting businesses

    • Name recognition and early market leader in payments space

    • Negligible fees

    Weaknesses

    • Strong competition + regulation in market space = slow adoption

    • Highly centralised nodes, privately held for proof-of-correctness algorithm

    • Recent delistings from exchanges and halts to trading due to court cases

    —

    1. Litecoin (LTC)

    Strengths

    • Faster transaction confirmation that its direct competitor Bitcoin

    • Long-standing trusted cryptoasset with historically solid top 10 ranking

    • Near ubiquitous listing on exchanges and some mainstream adoption

    Weaknesses

    • Limited developmental input recently in comparison to other projects

    • Growing move away from Litecoin as a Bitcoin hedge due to stablecoins

    • At risk of being devalued if Bitcoin can be effectively solve scalability

    —

    1. Chainlink (LINK)

    Strengths

    • First mover advantage in blockchains/off-chain data feed communication

    • Benefits from rise in value of businesses and blockchains it partners with

    • Expansive market space for use of native network in real world applications

    Weaknesses

    • No clear roadmap or timescale for future developments

    • Impacted somewhat by the speed of the Ethereum network for data transfers

    • Relative centralisation of stored token assets

    —

    1. Bitcoin Cash (BCH)

    Strengths

    • Similar computational structure to Bitcoin and therefore easily co-adopted

    • Addresses the scalability issue of Bitcoin specifically

    • Smaller fees than the majority of its direct competitors

    Weaknesses

    • Perceived negativity surrounding its leadership, marketing, and community

    • Direct competitor of Bitcoin which has a large market advantage

    • Variably poor throughput of transactions compared to Bitcoin despite larger block size

    —

    1. Stellar (XLM)

    Strengths

    • Fast cross-border payments between individuals

    • Negligible fees

    • Not-for-profit philosophy = inclusive global payment system compared to XRP

    Weaknesses

    • Competitor of XRP without first mover advantage

    • Nodes are privately held for consensus algorithm, with little financial incentive

    • Small centralised development team

    —

    1. USD Coin (USDC)

    Strengths

    • Ethereum network stablecoin with fast transfers stabilising other cryptoassets

    • More positive press than nearest direct competitor Tether

    • Institutional backing

    Weaknesses

    • Stablecoin so no more designed as an investment itself than the US dollar

    • Strong competition from other stablecoins including market leader Tether

    • Uncertainty if regulation will impact stablecoin use long term

    —

    1. Uniswap (UNI)

    Strengths

    • Tied to performance of burgeoning market-leading decentralised exchange

    • Enables holders to engage in the exchange's governance activities

    • Developer team planning major upgrades later in year = version 3

    Weaknesses

    • High initial distribution to relatively few developers

    • Ethereum network token so fees high at times of congestion

    • Persistently high inflationary tokenomics given primary use as governance token

    —

    1. Dogecoin (DOGE)

    Strengths

    • Fun and engaging story/community encouraging new users of crypoassets

    • Low transaction fees

    • Relatively quick transaction times leading to some real world adoption

    Weaknesses

    • Celebrity impact = pumps and dumps unusual for high market cap assets

    • Potentially infinite supply limiting value possibilities, despite fixed inflation

    • Virtually no development for many years

    —

    1. Wrapped Bitcoin (WBTC)

    Strengths

    • Allows Bitcoin liquidity to be used easily within the Ethereum network

    • Expands use of decentralised finance network

    • Takes the security of bitcoin with the usability of smart contract tokens

    Weaknesses

    • Wrapping is a centralised process, relying on trust of a central body

    • Wrapping can't be automated within Ethereum = reduced integrity of decentralised network

    • Transactions of token subject to potentially high Ethereum gas fees

    —

    1. OKB (OKB)

    Strengths

    • Allows low fee trading on the OKEx exchange, the second largest centralised exchange

    • Buy-back and burn deflationary tokenomics

    • Can be used as payments for any goods and services partnered with NOWPayments

    Weaknesses

    • Centralised control of token supply and withdrawal

    • Multiple OKEx controversies including suspending withdrawals for one month

    • ERC-20 token subject to potentially high Ethereum gas fees for transactions

    —

    1. NEM (XEM)

    Strengths

    • Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake

    • Applications for transfer of assets, votes, contracts, etc. can be coded in any language

    • Major upgrade announced for March 12 which XEM holders can opt into

    Weaknesses

    • Few key meaningful differences in application to Ethereum, its main rival

    • Reputation of team for not being marketing savvy in not finding user base

    • Low developmental transparency with poor user interaction

    —

    1. Aave (AAVE)

    Strengths

    • Tied to market leader of non-custodial transparent decentralised lending

    • Holders can partake in project governance

    • Discounts on borrowing for holders

    Weaknesses

    • Variety of financial options complex and not necessarily intuitive for new users

    • Limited current adoption beyond the crypto space

    • Transactions of token subject to potentially high Ethereum gas fees

    —

    1. Cosmos (ATOM)

    Strengths

    • Unlimited ecosystem of independent interoperable dApp-specific blockchains

    • Improves scalability in smart contract system compared to current Ethereum network

    • New developments more easily added vs Polkadot = greater adoption potential

    Weaknesses

    • Tendermint consensus algorithm is limited to fewer validators than competitors

    • Less fundamental need for native ATOM token within network compared to competitors

    • No capped supply on tokens

    —

    1. Solana (SOL)

    Strengths

    • Billed as the fastest blockchain with token used to pay transaction fees

    • Smart contract compatible with scalability built in

    • FTX recently selected Solana blockchain as basis for their decentralised exchange Serum

    Weaknesses

    • Large amount of tokens held by development team

    • Relatively recent rise to prominence so concerns that value may be unpredictable

    • Recent blockchain bug caused 6 hour outage

    —

    1. Crypto.com Coin (CRO)

    Strengths

    • Close ties to fiat financial world through exchange and card = more adoption

    • High interest rates when staked on native exchange

    • Team trying to increase decentralisation preparing for upcoming blockchain launch

    Weaknesses

    • Little fundamental use case outside of exchange ecosystem

    • Centralised supply of token with centrally made major developmental decisions

    • Transactions of token subject to potentially high Ethereum gas fees

    —

    1. Monero (XMR)

    Strengths

    • First mover privacycoin where transaction tracing is virtually impossible by design

    • Highly decentralised development and governance

    • Low transaction fees compared to other proof-of-work projects

    Weaknesses

    • Higher complexity of code base = integration to markets challenging

    • Governmental regulation more likely which could curtail listings and activity

    • Proof of work blockchain coupled with transaction complexity causing potential scalability issues

    —

    1. EOS (EOS)

    Strengths

    • Much higher transaction speeds than main competitor Ethereum

    • Negligible transaction fees

    • Capacity to run industrial-scale decentralised apps

    Weaknesses

    • Extremely few existing nodes and inherent difficulty for more

    • Essentially hitherto outcompeted by Ethereum and others for dApp takeup

    • Community is sour on future and project founder has left recently

    —

    1. Bitcoin SV (BSV)

    Strengths

    • Hard fork from Bitcoin Cash with strong vision to create viable payments system

    • Large block size enabling fast transaction speeds in comparison with BCH

    • Minimal transaction fees

    Weaknesses

    • Multiple security lapses due to problems with blockchain code

    • Fast transaction speeds/low fees has been more successfully adopted using other algorithms

    • Strong negative feeling from many in crypto community, many of whom regard it as a scam

    —

    1. TRON (TRX)

    Strengths

    • Strong vision of empowering content creators to have ownership of their own web content

    • Smart contracts can be created in many programming languages = easier development

    • Faster transaction speeds and lower fees than competitor Ethereum

    Weaknesses

    • Concerns regarding the ethics of founding CEO and team

    • Very similar code to other projects but not implementing their more recent innovations

    • Delegated proof-of-stake confirming process prone to becoming centralised

    —

    Edit: BONUS:

    1. IOTA (MIOTA)

    Strengths

    • Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)

    • Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT

    • Comparatively environmentally friendly to other large scale projects

    Weaknesses

    • Slow rollout of roadmap and early target of removing central coordinating node still not complete

    • New technological issues - caused a mainnet outage for 11 days as recently as last year

    • As a token made for machine-to-machine transactions, future market is somewhat unpredictable

    —

    [Also, thanks so much for the gold and awards!]

    submitted by /u/pippius
    [link] [comments]

    I was able to finally pay off my student loans thanks to Crypto :)

    Posted: 26 Feb 2021 04:56 PM PST

    About 7 years ago I was forced to take out some student loans to continue going to college to earn my degree in marketing, and a couple of summers ago I decided to invest in bitcoin and today I decided to sell some off to finally pay off my student debt and be free, feels good man

    submitted by /u/shrek5trailer2020
    [link] [comments]

    A little more relevant to the current situation

    Posted: 26 Feb 2021 06:29 PM PST

    Luckiest generation

    Posted: 27 Feb 2021 02:51 AM PST
    Read more
    at

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