Cryptocurrency Daily Discussion - February 5, 2021 (GMT+0)

Daily Discussion - February 5, 2021 (GMT+0)
We all know ETH fees are high. Here's why it's happening, how to save money, and what is being done about it going forward.
With the sudden influx of newcomers to this sub I think it's now more important than ever that we not only welcome them, but help to educate them as well.
If you're gonna be trading, you need to be absolutely certain and serious about it. It's a high level profession, not a hobby.
Finally, after 3 years of holding, I just past my previous ATH.
ADA is at the Candy Shop! We're half way to the ATH
I just coverted my DOGE to ETH.
We Will Regret Every Bitcoin and Crypto Regulation
CryptoWallets - Which one should you use
Yearn Finance suffers exploit, says $2.8 million stolen by attacker out of $11 million loss
Thank you guys so much. Huge shoutout to the haters! No I didn’t get rich.. but now I see a way out.
Thank you Doge!
For the new guys - from someone that has been in Crypto for years now
January's Spotlight: Meet Cartesi (CTSI)
For the first time since 2017, Bitcoin Cash is about to drop out of the top 10. I find myself actually cheering for the Stellar fans
EMURGO, Ergo, and IOHK announce AgeUSD, the first stablecoin that will come to Cardano | CryptoSlate
BBC News takes consistently bearish position on cryptocurrencies?
Buying cheaper coins is not better - if you're new and investing for financial gain.
We have hit 1.5 million subscribers!
What I absolutely love about DeFi
IOTA Tangle - A new DLT for IoT and Smart Cities (February 2021) - IEEE Smart Cities
Elon Musk influencing DOGE's price is not a crypto problem, it's a human problem, so stop freaking out about it.
Police seize $60 million of bitcoin. But where's the password?
27% of All Dogecoin (DOGE) is Held By a Single Address and another top 20 addresses hold more than 20% - CZ

Daily Discussion - February 5, 2021 (GMT+0)

Posted: 04 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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We all know ETH fees are high. Here's why it's happening, how to save money, and what is being done about it going forward.

Posted: 04 Feb 2021 02:47 PM PST

Full disclaimer: I own some ETH. I've seen a lot of posts here and in /r/ethereum talking about high fees. I've also seen a lot of extremely misleading statements here and there about how high fees are right now and will try and simplify things a bit. I'll do my best to remain impartial, and feel free to correct me and I'll edit my post. All plans are subject to change, the following is based on my current understanding and recollection of developer statements.

What is happening?

ETH fees are high right now. The best place to see gas costs (how much you'll need to pay for a transaction vs how quickly you want it) is here: https://ethgasstation.info/
Smart contracts and ERC-20 tokens consume much more gas than a basic transfer. While a typical transfer might be $3 a poorly written smart contract could consume $100 in gas. This variation leads to lots of confusion on various forums. An absolute metric crap ton of tokens run on ETH, so ETH being congested causes lots of downstream effects, tokens that consume lots of gas are disproportionately effected.

Why is this happening?

Utilization is through the roof right now. At post time ETH is achieving 16.14 TPS vs BTC's 4.00. Despite being 4 times faster the demand for on-chain (L1) transactions is overwhelming. At the bottom of this page, make sure to scroll down you can see that blocks are at 100% right now. That means people are constantly outbidding each other to make it in.
At post time Uniswap is the biggest gas guzzler. People are using Decentralized Exchanges (dex'es) a ton and its consuming a huge chunk of block space and people are paying a premium for it.

How can I save money?

ETH demand fluctuates heavily throughout the day, it's not uncommon for fees to drop 10x in an hour. If you are not in a hurry waiting a bit for a slow period and broadcasting a median gas transaction can save you a TON of money
Some wallets/apps are designed to be super user friendly, and unfortunately they hardcode the fastest possible gas costs for a good user experience (UX). Unfortunately that's a very bad idea when gas is high and only causes rates to climb even more. EIP-1559 will fix this, more on that later
Don't interact with smart contracts if you don't have to. It sucks, I know. But the fact is that using a smart contract is way more expensive than normal transactions. When gas is a fraction of a penny nobody cares, but its not right now and this is where we are. Last I checked, L1 ETH transfers are still cheaper than BTC. Not much of a consolation, but it's not a total disaster yet. EDIT: It appears the last 2 days ETH has flipped BTC on transaction costs. $17 USD still seems really really high, as of post-time a $5 transaction would go through within a few minutes)

What is being done about this? (sorted by est delivery date)

Berlin upgrade: Est 1-2 months, will adjust gas costs of various transactions for certain core operations. Should help fees overall on many contracts.
EIP-1559: Est "this summer, but maybe Q3": A huge overhaul to the fee system. Block sizes are FLEXIBLE, targeting 50% full. When a block exceeds 50% full the base fee increases. When it drops below 50% the base fee decreases. Fees are burned (nice deflationary side effect). This means a few things: A) Spikes in transactions can make the next block instead of clogging the mem pool B) costs are MUCH more easy to calculate, and block include time estimation is much easier. C) The improved predictability/include time means shitty apps won't have a reason to set absurd fees for a good UX, driving "gas inflation" like we see now. There's a lot more to EIP-1559, but that's the gist of how it should impact transactions
2.0 Phase 0: Already live, but the beacon chain won't impact 1.0 until "the merge". Baseline TPS should be higher than 1.0, and its also environmentally friendly :)
2.0 Phase 1: Est end of 2021, Sharding will first scale to 64 shards (eventually 1024) for a 64x scaling effect on the beacon chain.
The Merge: Some call this Phase 1.5, but it is planned for 2022. This will move ETH 1.0 as a shard on to 2.0, and all finality will occur on the beacon chain. At this point ETH's core TPS should be 64-100x faster than what we have today
2.0 Phase 2: Est end of 2022/2023, Execution Environments aka sharded smart contracts allow for smart contracts to share data across shards so that DeFi/Dex'es etc benefit from 2.0's massive scalability

What other out-of-order improvements are coming?

Various L2 technologies are already live, and several smart contracts are upgrading to them now. This will let you pay on L1 to "get in", then perform a lot of cheap transactions on L2. Right now every trade on uniswap clogs L1. When it runs on L2 all those trades are off-chain and gas fees are only driven up by deposits/withdrawals. This should have a massive impact on overall gas costs. The good news is the insane fees on some contracts act as an INCENTIVE to get L2 up and running faster.

I know a lot of people are unhappy with the current situation, but a lot of progress has been made and a lot of exciting progress is on the horizon! I hope this post helps :)

submitted by /u/TopWoodpecker7267
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With the sudden influx of newcomers to this sub I think it's now more important than ever that we not only welcome them, but help to educate them as well.

Posted: 04 Feb 2021 12:01 PM PST

Anyone who has been around in this sub a while knows that for CryptoCurrency to succeed as a whole, increased public and institutional adoption/awareness is necessary, regardless of what Crypto you are invested in.

Over the last few weeks I've seen more newcomers to the sub than I've ever seen before, which is great news! However I've seen a few occasions where newcomers have been downvoted, trolled or mislead simply because their either asking a basic question, or are simply confused about something.

When I first joined here back in 2017 I asked a good few stupid questions and it was only due to the helpful people in this community that I learned more about Crypto and kept growing not only my knowledge of the space but my crypto holdings too.

I made a thread a few weeks ago and mentioned my DM's were open for questions and was honestly shocked by the amount of messages I received asking fairly straightforward questions and just for help in general with getting started.

So I'd like to invite anyone who has what they feel is a basic/simply/stupid question to ask away and I'll try to answer to the best of my ability (and hope that others in the community can join in to help answer and spread some knowledge to newcomers too!)

-CW

EDIT: I've answered well over 100 questions via PM, chat and comments now and really must go to bed! However please keep asking and I'll try my best to hop on tomorrow on my breaks and answer some more questions.

It's been amazing to see so many new people jumping into the space and getting stuck in!

submitted by /u/Coinwerm
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If you're gonna be trading, you need to be absolutely certain and serious about it. It's a high level profession, not a hobby.

Posted: 04 Feb 2021 06:17 PM PST

Lately I've seen a lot of posts about day trading. These posts are not about risk management, they're not about the amount of time, effort and commitment you need at this job. These posts are just repetitive sentences usually in all caps saying "don't day trade" "invest and hold long term". Investing is a good advice but these posts are low effort and not in depth.

So, here's an in depth about the reality of trading.

A few things:

1. "X% (70-90, this number changes every time I read this quote) of traders lose money" Yes it is true, 70-90%, whatever number it is, it's a high number. Why is this?

Trading is an actual profession, not a hobby. But unlike any other high level profession, it doesn't have any entry barriers. Getting into it is just as easy as clicking a few buttons. You want to be a doctor, lawyer, engineer, etc, you need to apply to universities, study hard, do entrance exams, study more, more exams, study even more for licencing exams and even more for higher degrees. All these entrance exams weed out the people who weren't committed enough. In case of trading, the free markets weed out (wipe out) the one's who aren't committed.

2. Difference between people who fail vs succeed.

People who aren't serious about it (losers) think it's easy money, they watch a few beginner videos on trading and a few clickbait videos like "How to use this x indicator to double your gains". They go into trades based on their emotions or based on the one technical indicator they know about. They don't even research what they are trading. They might not even use stop limits. They either go in and out too quickly, in at the sight of a green candle, out at the first sight of a red candle. Or they go in and have an optimistic number they wanna exit at, sometimes they hit it, sometimes they're left holding the bag. They go all in at their starting position, rather than adding in increments.

Where as people who are serious (winners), study and learn everything they can about all the indicators, not by watching 5 min clickbait videos, but by actually reading in depth about them or watching in depth educational videos. They practice on demo accounts or with small amounts. They research about the trades they go into. Based on their own technical analysis and strategy, they make a plan including the risk they are willing to accept for a particular trade and set stop losses accordingly. They enter their positions in increments, rather than going all in, crucial for risk management. They record and review their trades at the end of the day and adjust their strategy if needed.

It's a zero sum game, for someone to make money someone has to lose money, the unprepared people who don't take this seriously, lose to the top ~20% who have done their homework.

Questions to ask yourself before trading:

Do I have the time to trade?
Do I actually like the profession, do I like learning and studying technical analysis? Do I like researching about the coin and learning about its fundamentals?
Am I likely to just watch a few videos and dabble into it and just give up?
Do I wanna do day trading or swing trading or both? (Day trading is when you're in and out of a trade in few minutes or hours, swing trading is when you're in a trade for a few days, weeks or months)

Trading vs investing:

There is no "vs" in this. You can do both. Trading is a profession just like any other, it's a source of income. Diversified investing is for everyone, it gives you returns over many years. You still need to manage it every once in a while to weed out losers and add new emerging value assets. You don't want your investments to go tits up because of a few bad apples.

Some bullshit people say:

1. Technical analysis doesn't matter.

Ask any professional trader who makes consistent money, they all rely on multiple indicators for their entries and exits, one thing they don't rely on are emotions. Technical analysis tools and indicators are named after the mathematicians and traders who came up with them and consistently beat the market using them.

2. Time in the market beats timing the market

What a vague statement, when we all know it's a mix bag of things.

Good investors make bank, they manage their portfolio, recognising and removing shit assets, adding new promising ones. Bad investors let losing assets diminish their returns, watch their portfolio go tits up or barely make enough to account for the inflation.

Good traders make bank, they know how to manage risk, how to maximize returns by adding to a winning position and having an exit strategy. Bad traders go all in with each trade, without a well formed strategy, they trade based on hopes, greed and fear.

Q. I want to invest/trade. How do I start?

For Investing:

Do your own research into crypto/stocks you wanna invest in. Have a mix of some reliable assets that are most likely to survive the test of time, and some speculative one's that show potential. Make changes as you see fit on an yearly-ish basis.
Find a reputable brokerage with large number of available stocks. For crypto find a reputable exchange, buy coins there and if you have a large sum, transfer them to your private wallet. Most wallets should let you create a recovery seed words that you keep safe and memorize incase you lose your wallet.

For trading:

First learn everything you can. A good place to learn is the scripts on trading view.
Now practice applying what you've learned on a demo account or with small amount to money (20-50$). Practice for a month atleast. Even tho its not as stressful as a large sum of money, it's still very helpful.
Find a reputable brokerage or exchange account in your region.
Research what you are trading, it's a misconception that traders don't need to know about the fundamentals of a company/coins coz they're in and out in a short term. One good news or bad news can determine how a stock/crypto will perform on that day. Learning about the fundamentals of different coins helps you stay away from pump and dump shitcoins.
Don't trade with margin, if you are new.
Don't jump in if you don't like the current price point, sometimes it's a waiting game, make a price alert. Always have a plan before entering a trade.
Analyze and improve your strategies.
And never forget stop losses/limits and moving them up as your trade goes into profit.

Moral of the story, it's a good idea to let newcomers know that trading is an actual profession that requires studying, time and effort. But don't make shitposts about day trading if you don't know anything about it, or you don't like it, or because you were a shit trader and lost money.

EDIT: There are too many comments to respond to. Some people think I'm trying to encourage people to trade or vice-versa. Some people think I'm trying to tell people what to do with their money. I'm not, my whole point was to inform newbies, the reality of trading and that they need to learn and be good at risk management if they are thinking of this as a way to make money. Some people think TA doesn't work because once in a year or two the market goes tits up, that's where your risk management comes in. Indicators, as the name suggests are indicators (a probability) of where things are gonna go, not certainty. At the end of the day its your money, I'm not your mom or your financial advisor, I'm sorry if I sounded like your mom or your financial advisor. Whether you day trade, or swing trade or invest or everything or nothing, it's upto you. My only intention was to point out some things (good and bad) about trading and investing.

submitted by /u/damittydam
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Finally, after 3 years of holding, I just past my previous ATH.

Posted: 05 Feb 2021 12:30 AM PST

With the most recent run up, I just realized that I am now where I was at the peak of alt szn back at the beginning of 2018. I held through the crash, and over the next couple years saw my portfolio shrink down 93% from my peak.

Those were rough days. But I followed a few of the most important risky investment fundamentals that allowed me to be ok with it and patiently what for the next bull run.

Never put in more than you're willing to see go to zero. If your emotionally attached and your stomach just aches when it drops 20% or more, then you probably have too much in and you should really consider if you are willing to lose that amount, or if losing that money would negatively impact your life or the life of your family for those with partners and kids.
Treat it as a long term investment. I told myself that I couldn't cash out for at least 5 years or more. I new of the bust and boom cycles, I knew it would be volitile but I felt that crypto was so important that eventually it would catch on more and with time it would become more valuable as it was taken more seriously as an emerging asset class. This also helps you to not be so emotionally tied to day to day swings.
Quit chasing pumps and quit trying to day trade. This is probably most important, you most likely will lose money doing this.
DCA into your positions, and don't concern yourself with short term prices. If you play the long game and stick to the solid coins, you will most likely be in a better position thee or four years from now.

I know everyone wants to make fast gains, but so far in the crypto game the slow and steady turtle is winning the race.

I'm excited for the next couple years. We are maintaining amazing growth and acceptance in this space, and compared to where we were when my portfolio was at this point 3 years ago, we are in a much more stable and overall positive place.

Best of luck to you out there, and I'm excited to see how crypto grows in these next couple years.

submitted by /u/Aurtach
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ADA is at the Candy Shop! We're half way to the ATH

Posted: 05 Feb 2021 01:14 AM PST

ADA keeps getting its marketcap bigger and bigger, just before Goguen's release. Charles Hoskinson said that February is going to be a good month. We can say its starting really well.

For those that don't know the project, here's what Cardano offers:

Most decentralized and secure, Blockchain to date once D=0 in March.

Fast, robust, built to scale, on-chain democracy through voting, open to all.

The best network stack, meta-data implementation in the industry. Extended-EUTXO, fantastic UI/user experience through fullnode/lightnode wallets, cold staking through your own wallets.

Hard Fork Combinator, seamless upgrades/hardforks.

Built on solid foundations by some of the best people in the industry, who have been working/planning this for over half a decade.

Decentralization incentives, stable roi without required hardware or electricity, no lockup.

Cross chain and cross code communication for interoperability with little to no cons.

NATIVE Assets + ERC20 Bridge converter. Actually done right, nothing like simple "wrapped assets".

Native-Assets capable of benefiting from the EUTXO, integration with projects treated as first class citizens, capable of using all of the tools built on ADA without custom integration/smart-contracts.

Fantastic well thought out strategic partnerships, with the goal of providing decentralized finance to those who need it the most. (Africa - Ethiopia deal).

Verifiable KEVM Solidity contracts. (It will do everything Ethereum does better, literally, more secure smart-contracts through K, without miners/fees, fast transactions.)

Mantis framework, smart-contract deployment without code.

Supply-chain tracking (Beef-chain).

For verifiable products, tracking and authenticity validation on-chain.

It's own smart-contract language next to the KEVM.

Plutus smart-contract language, in development for years by the same people who created "Haskel" used by Entrepreneurs and Banking systems over the world, as well as Java and Go.

Plutus cross language support, multiple smart contract languages, anything can be added as a supported language thanks to the Mantis Framework. IELE think: (Java, lua, rust, C++, C# ..)

Built to run Lightning/Hydra from the base layers/foundation.

Sonic, snarks in the near future as well.

Decentralized voting through the built in wallets, that provides rewards as an incentive to participate and use your voting rights.

Community voting for funding projects from the built in treasury, as incentives for developers to pitch their idea to the community before receiving funding.

(Already happening, over 100 million dollars in the Cardano Treasury and growing every Epoch.)

Decentralized re-useable identity, provided through use of verifable entities.

153000+ User delegates

1450+ Nodes/Validators/Pools.

71.3% Supply delegated.

Incredibly strong and passionate community, mature, focused on providing the best/the most secure tech in a user-friendly way, that is both fair and provides long term sustainability.

submitted by /u/mrkez
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I just coverted my DOGE to ETH.

Posted: 04 Feb 2021 12:20 PM PST

I've been following this sub for a couple of months now and always wanted to invest my money, never had the guts to do that.

Until DOGE came.

I know that r/cryptocurrency doesn't see DOGE as a sustainable currency. I think that too, BUT its still great gateway for buying crypto.

DOGE made me research cryptos more and more and i saw the up and downsides of it, i would have never done this kind of research if DOGE wouldnt have surprassed the "news".

EDIT: This has been overwhelmingly positive feedback and sparked good discussions here!

Im sorry, i cant possibly discuss/answer everything sorry if you feel missed out on conversation!

submitted by /u/Vilhard94
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We Will Regret Every Bitcoin and Crypto Regulation

Posted: 04 Feb 2021 07:10 PM PST

submitted by /u/Mister_Rashi
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CryptoWallets - Which one should you use

Posted: 05 Feb 2021 02:01 AM PST

Saw a lot of posts lately about wallets so here we go:

What is a cryptocurrency wallet?

A cryptocurrency wallet is a hardware or software program that allows you to store, send and receive digital currencies. Because cryptocurrency doesn't exist in physical form, your wallet doesn't actually hold any of your coins — instead, all transactions are recorded and stored on the blockchain. Some cryptocurrencies offer their own official wallets, while other products allow you to store multiple currencies within the same wallet.

How do cryptocurrency wallets work?

Instead of holding physical coins, a crypto wallet is electronic and includes a public and private key.

- Public Key: This is a long sequence of letters and numbers that forms the wallet address. With this, people can send money to your wallet. It's similar to a bank account number in that it's used to send money to an account only.

- Private Key: This is used to access the funds stored in the wallet. With this, people can control the funds tied to that wallet's address. Like a PIN, you'll need to keep your private key secret and secure. However, not all wallets give you sole ownership of your private key, which means you don't have full control over your coins.

Type of Wallets

Cold(Hardware) Wallets:

Hardware wallets are the most secure wallet option available. Unlike the online or software crypto wallets, hardware wallets are completely offline and are virtually hack-proof. Hardware wallets allow users to send or receive funds only when the device is connected to a computer with access to the internet, and cannot send funds without a user pressing a physical switch or button on the device itself.

Pro:

Reasonable price
Higher security - possibility of offline storage
Supports multiple coins
Accepts crypto transfers even offline
Ease of use

Cons:

Not mobile friendly

Options:

Ledger
Trezor

Hot Wallets

Hot wallets are digital wallets that are connected to the Internet. These allow quick and immediate access to your digital currencies, but because these wallets are constantly connected to the network, there is a risk of the wallet being hacked by exposing the private key. The primary use is for 'everyday' money when high liquidity is needed. It is recommended that hot wallets use a PIN password as well as second layer authentication (2-FA).

Pro

Mobile friendly
Possibility to buy/sell crypto directly from the wallet
2 step verification for better security
Possibility of earning interest/stake

Cons:

At risk for malware and viruses
Losing the assets if the phone it's lost and the seed phrase not backed up
Some require the KYC process

Options:

Exodus
Metamask(best for ethereum)
Electrum(bitcoin dedicated)
Celsius
Coinbase Wallet
Natrium
Maiar
Trust Wallet
Nexo Wallet
And many others

Exchange(Online) Wallets

Exchange or online wallets are typically accessed through cryptocurrency exchange accounts. Online wallets are easy to access and use, but don't provide full control over user funds and are at risk of hacking.

Pro:

No need for transfers to and from wallet

Cons:

Not your keys, not your coins

Options:

Binance
Kraken
Robinhood
Coinbase
And others

Paper Wallets

To keep it very simple, paper wallets are an offline cold storage method of saving cryptocurrency. It includes printing out your public and private keys on a piece of paper which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the well-being of a piece of hardware, nor do you have to worry about hackers or any piece of malware. You just need to take care of a piece of paper.

Pro:

Not subject to malware and keyloggers
There is no need to rely on third-party services for coin protection

Cons:

Can be lost or taken by someone

Options:

Paper Wallet generator
MyEtherWallet

Stay safe and as always:

DoYourOwnResearch

submitted by /u/good-as-hellx
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Yearn Finance suffers exploit, says $2.8 million stolen by attacker out of $11 million loss

Posted: 04 Feb 2021 03:30 PM PST

submitted by /u/xsanchez21
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Thank you guys so much. Huge shoutout to the haters! No I didn’t get rich.. but now I see a way out.

Posted: 04 Feb 2021 08:40 PM PST

I initially fomo'd into bitcoin and a slew of shitcoins in December 2017... I opened a Binance and a Coinbase. I was a broke student, put all my money (3g) in and poof... you can see where this is going... it was gone. I stopped logging in after panic selling some stuff. At the time I was convinced it was the future but going from broke to even more broke scared me away. I dropped out of school to bartend because I was sick of being broke and that went very well for a while... if 2018 didn't kill me and I put all my tips into crypto I would have been able to retire.

Then Covid-19 happened... my bar closed.. I burned through my savings and after making an exodus in my ole crappy 4Runner this summer my friend asked me if ETH was worth it, I said it was the only one I really trusted after it all.. and then remembered I had saved one whole ETH. I got back into my accounts an wallets.. I had a slew of shitcoins. Over the summer I moved them around.. re positioned.. threw in what money I could.

Some shitcoins were now worthless. I held AMB MOD ENG XRP lol...

But I also had a fair amount of FUN, XLM, and one whole ETH. I was invigorated... This time around I did my research. Everything you guys talked shit on and hated I meticulously researched. Usually it turned out you were right.. Everything you praised I also meticulously researched... still not drinking the koolaid unless it's GRT flavored. I still hold "shitcoins" but I believe in the developers and I believe in the projects and I believe people here generally have the best interest of the community and technology in mind.

My main positions are ETH, XLM, GRT, REN, LINK, and BCH(I encourage you to talk shit on my positions below) I'm still broke, I'm probably spread a little thin...Some I believe in their strength as currency, others I see use case. I am a broke student again investing in crypto... but "this time it's different."

Thank you for the loss porn(Mine isn't graphic enough.. high percentages low amounts of money)the memes, and generally not being too shilly. When I want to learn about a coin I never go to the subreddit, I come here. I pour through your debates and research all angles. I may actually make it boys. My dad is a stock focused guy and doesn't believe in investing in currency but when I told him about functionality and infrastructure he said "well maybe those ones would be good pics" after years of telling me to avoid the scam. I still never told him about the hit I took in 2018 because he's right often enough.

Im learning JavaScript and Solidity this time around because I have a strange token idea. This subreddit is a breath for fresh air from WSB, /biz/, and project subs.

Thanks a million

Edit: talk shit on my positions!

Edit: I got banned from XRP last month i feel like I kinda "got my wings"

TLDR: Scrutiny is essential in us moving forward. I got burned once and now I'm back for good.

submitted by /u/guild_wasp
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Thank you Doge!

Posted: 05 Feb 2021 02:57 AM PST

I lost money on doge, I had the opportunity to make a few quid but got greedy and held out for more. Didn't lose anything big, but enough to sting my pride.

And yet, I'm still really thankful to doge for making such a fuss over the past week and losing me that money. Because in the process I finally, after thinking about it for years, started researching and investing in crypto.

Because of doge I have an exchange account with money in three different coins. I now know how to buy and trade. I'm researching wallets hot and cold. I've started to develop a DCA investment plan. I've merged this new learning with my programming hobby to develop a simple portfolio tracker as a hobby project. And best of all I found this community. Reading the daily thread has become a highlight of my day.

So to everyone posting here, who takes time out of their day to help newbies like me, thank you.

And thank you Doge for being the best gateway drug I could have wished for.

submitted by /u/MrCalavera
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For the new guys - from someone that has been in Crypto for years now

Posted: 04 Feb 2021 05:27 PM PST

Just wanted to say. Not all of us got rich even being in it for years. But i still enjoyed it happening. I bought small amounts and held and made some nice profits. Nothing life changing. I wanted to post to represent this group of people. For many new guys crypto might looks like its get rich quick or yolo into a high risk coin and lose it all.

Some of us just enjoy the ride and make a little profit along the way. There's nothing wrong with that. If you get caught up thinking 'i could have got more' you'll drive yourself crazy, just look at Schindler.

submitted by /u/Sloth_Broth
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January's Spotlight: Meet Cartesi (CTSI)

Posted: 04 Feb 2021 11:10 PM PST

submitted by /u/ParkingIntroduction9
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For the first time since 2017, Bitcoin Cash is about to drop out of the top 10. I find myself actually cheering for the Stellar fans

Posted: 05 Feb 2021 02:33 AM PST

I remember looking at the Top 10 in 2019 and thinking "Bitcoin fork, bitcoin fork, EOS scam token, TRON rubbish" and wondering why legit projects weren't ranked higher. It's been a long time but that day is finally almost here. I know it will probably have a huge bounce as BCH is wont to do, but it is cathartic to see the top 15 filled with such excellent projects and the chaff is being slowly sent down the ranks.

Good work and good luck with your investments everyone. BCH, please don't take it personally but there's too much bad air surrounding BCH so its time has come.

submitted by /u/TNGSystems
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EMURGO, Ergo, and IOHK announce AgeUSD, the first stablecoin that will come to Cardano | CryptoSlate

Posted: 05 Feb 2021 01:03 AM PST

submitted by /u/Fuck_Up_Cunts
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BBC News takes consistently bearish position on cryptocurrencies?

Posted: 05 Feb 2021 12:10 AM PST

I post this because I live in the UK and the BBC is without doubt the premier news website. Indeed some data suggests that it has more traffic than any other news site in the world

The BBC also has a special position in UK law as it is bound by a Royal charter which requires it to remain independent and have politically unbiased coverage of the news as a part of its mission to inform, educate, and entertain. It also has unique funding as UK resident TV licence fees contribute to their income.

It always catches my eye when the BBC News website publishes an article about cryptocurrencies. 15 hours ago they published this article.

Dogecoin takes off after tip by Elon Musk

Which goes into a lot of detail about the pitfalls of cryptoassets without covering the benefits:

'However, with no intrinsic value like gold or land, and no ability to generate an income like a company or bond, cryptocurrencies are extremely volatile and can crash as fast as they rise.

This makes them hard to value and makes their prices susceptible to tips from backers or sudden panics.

Critics point out that while any given cryptocurrency may have a finite supply of units, the number of cryptocurrencies is ever-growing and potentially limitless.

People have lost large amounts of money in steep drops in the value of cryptocurrencies and in hacks and corrupted or lost hard drives.

Bitcoin's value dropped by $5,000 on 4 January to about $29,000 before recovering the lost ground. On 11 Jan, it dropped $9,000 to $32,000.

Because the cryptocurrencies can pass international borders quickly and are not regulated like cash or regular investments, investigating thefts is hard.

Last month, the Financial Conduct Authority (FCA) issued a stark warning to investors in so-called cryptoassets.

The financial watchdog said investors should be "prepared to lose all their money" should their investment's value collapse.'

Their previous article on the topic had a similarly doom-mongering headline:

Cryptoasset investing? Be prepared to lose the lot, warns watchdog

Although the text of the article was more cautionary, warning people of get-rich quick schemes and also potential fraudulent scam activity and I agree this is one aspect of the coverage which is definitely in the public's interest.

A previous post about bitcoin reaching its three-year high in November 2020 did mention its scarcity as an upside for investment but again mostly focused on the risks and downsides associated with cryptocurrencies:

'But Oanda's Mr Moya warned traders to prepare for more volatility.

"The amount of hedge funds and high-frequency trading systems driving Bitcoin higher will likely deliver exaggerated moves once its price nears the $20,000 level," he added. "Traders need to expect $1,000 swings in a matter of minutes."

Some believe the recent rise in Bitcoin is partly driven by the "fear of missing out" (FOMO).

"Its rebound is creating more interest from speculators and so they are jumping in which then pushes it even higher," added Mr Oliver.

"I think most people would put more faith in a digital currency run by their government rather than one like Bitcoin that they have trouble understanding or explaining." '

Of course, I understand that they are reporting this in an independent way and they have a duty not to take a position on long term market value, I feel that the positives of decentralisation, transactional transparency, and technological problem-solving which many cryptocurrencies offer are not covered in as much detail as the risks and downsides.

This has the potential end result of delaying mainstream adoption and making the public distrust the cryptocurrency market outright rather than taking a considered and balanced approach.

How do you think these issues can be tackled? I am a general supporter of the BBC's news coverage but Surely one of the most widely read and trusted news sources in the world shouldn't institutionally be a harbinger of so much negativity?

Else the general public don't get a more complete informed view of this ever-developing field...

TL:DR - The BBC usually has fair and balanced reporting to properly inform the public. They seem to be consistently reinforcing the negatives with cryptocurrencies with limited reporting of the positives. I believe this is presenting an incomplete view to the public and is risking the public being less well informed. How can this be tackled?

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Buying cheaper coins is not better - if you're new and investing for financial gain.

Posted: 04 Feb 2021 06:57 PM PST

I am seeing a lot of people asking questions like "what cheap coins should I buy? I only have $X to play with".

You're asking the wrong questions.

Let's say I have $100 to invest. I can buy 5 DOT @ $20 per, or 200 ADA @ $0.5 per.

If they both appreciate in value by 100% over the next 2 months, I now have $200 worth of coin, regardless.

You can own very small percentages of coins. Yes, I know you can trade fractions of traditional assets like stocks now on places like RH, but you don't own half a share of gamestop, you're just lending your money to robinhood and they're shaking your hand and promising to pay you back. You can definitely own .0001 of a bitcoin.

What are the right questions to ask? Since I've already been an asshole to you, here's one assholes limited perspective:

Ask yourself about which projects you think show promise. Which ones have the capacity and the technology to do useful things that other ones don't. Which projects have active communities and transparent policies about their development. Which ones you think are worth more than they're currently valued. Which ones have a head start on achieving their goals over competitors in the same space.

All of these things have helped me feel pretty good about the bags I hold and not worry about price fluctuations over longer periods of time.

Then again, if you do all of that, you're not gonna be investing just for financial gain anymore. Oops, welcome to crypto.

My bags in sort of largest to smallest monetary investment for transparency so everyone can roast me: BTC, ETH, LINK, IOTA, LTC, ADA, XLM, VET, UNI. Have had them all except uni for a few years.

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We have hit 1.5 million subscribers!

Posted: 04 Feb 2021 02:12 PM PST

Congratulations to everyone and all the newcomers to the subreddit. Crypto is global and has taken the world by storm and this subreddit is at the front of that movement helping newcomers, analyzing charts, and sharing gains and losses. This year looks like it might be a big year for crypto adoption!

submitted by /u/LactatingJello
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What I absolutely love about DeFi

Posted: 05 Feb 2021 01:22 AM PST

Not the decentralization. Not the huge intrest rates compared to standard bank interest. No it's that I can use something without signing up for. I can just open the website, click on "go to app" and can start. No sketchy ads, no spam, nobody who is selling my personal data! It's the first time that I actually see something as easy as this.... and I absolutely love it. I'm so excited for Ethereum 2.0, when the gas fees are low again and we can use DeFi and Dapps more efficient!

This post has no actual value, just wanted to share my current expirience with you.

submitted by /u/ComprehensivePublic4
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IOTA Tangle - A new DLT for IoT and Smart Cities (February 2021) - IEEE Smart Cities

Posted: 04 Feb 2021 05:46 PM PST

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Elon Musk influencing DOGE's price is not a crypto problem, it's a human problem, so stop freaking out about it.

Posted: 04 Feb 2021 12:45 PM PST

Influential people can influence things, it's not as if there is something innate to crypto that allows people to do it, it's something innate in humans that lets them be influenced certain ways no matter what the subject is: stocks, crypto, brands, pokemon cards, movies, video games, etc.

Does it suck? Yes... well unless you were already holding DOGE than it doesn't suck as much.

Will it negatively implications on the cryptocurrency sector as a whole? If it does, probably as much as the GME/WSB scenario affects legacy finance, which is to say, I doubt much materially changes in how it functions for retail investors nor do I think it changes how anyone really views the market.

What can we do about it? I guess push for more regulation on these types of things, so that Elon can get even more annoyed by the SEC. Not sure that's a path I'd like to see them go down because it's already quite a grey area.

TLDR: stop whining about how elon musk's words affect the price of DOGE, if you really feel strongly about it then make a push for more regulation of financial talk on social media instead of throwing a pity party and collecting karma.

submitted by /u/jawni
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Police seize $60 million of bitcoin. But where's the password?

Posted: 05 Feb 2021 03:40 AM PST