Cryptocurrency Daily Discussion - March 2, 2021 (GMT+0) |
- Daily Discussion - March 2, 2021 (GMT+0)
- If you think bitcoin is only used by criminals, wait until you hear that banks help launder $2 trillion every year.
- Bitboy “promoting” shitcoins for easy profits leaving newcomers with massive loses
- It's not much but I finally own just over one whole ETH!
- Stop trying to time the market, DCA FTW!
- If you're making money from crypto, whether it's a good investment or a bad investment, good for you. We should support each other no matter how stupid we are.
- I'm not afraid to admit it.
- Cardano Becomes a Multi-Asset Blockchain With Today's Hard Fork
- How would everyone feel about limiting memes to only 1 day per week?
- Goldman Sachs is planning to offer crypto trading services as soon as next week, according to a report.
- How I turned my $50 to $18.73 with fees alone, and the lesson to be learned
- Ethereum will scale, in 2 weeks optimistic rollups are going to be released to mainnet.
- Explained: The Furucombo Evil Contract Hack (Feb 2021)
- Citi's Report on Bitcoin is the perfect primer
- Somebody sent 5 Bitcoin ($243,153) to a confirmed Elon Musk Giveaway Scam Address
- The NY AG just issued a blanket warning against investing in Cryptocurrencies, without any basis. She is just as guilty as Elon Musk for market manipulation
- BTC Balance Sheets: 42 Companies Hold 1.3 Million Bitcoin Worth More Than $65 Billion
- Why Are So Many Multi-Billion Dollar Companies Building On VeChainThor? - CREAM
- [Serious] I store my backup wallet recovery phrase in fake diarrhea-stained underwear.
- Energy consumption: Bitcoin mining vs Financial banking system
- History will remember that Google failed to be an early cryptocurrency adopter... or even supporter.
- Visa: 25% of Latin Americans Want to Pay With Cryptocurrencies
- How to explain bitcoin to people who never heard about it
- How I learned to never move around Bitcoin, ever
| Daily Discussion - March 2, 2021 (GMT+0) Posted: 01 Mar 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:
Useful Links:[link] [comments]  | ||
| Posted: 01 Mar 2021 12:52 PM PST Bitcoin being used by criminals is still some of the most long-lived FUD out there. It is something that still often comes up today when I hear nocoiners talk about Bitcoin and is often cited as a reason not to invest. [link] [comments]  | ||
| Bitboy “promoting” shitcoins for easy profits leaving newcomers with massive loses Posted: 01 Mar 2021 03:23 PM PST Bitboy is the biggest crypto youtuber right now with almost 600K subscribers. Today he uploaded a video where he recommended 4 different coins. One of those was a low cap coin called Nord Finance (NORD). In just 3 hours the coin has risen 50% probably leaving him with massive profits. He has done this numerous times and will probably keep doing so. There's no way he's not holding big amount of coins like these himself for easy profits after pumping them. Videos "promoting" coins like this made by such big names are extremely bad for the crypto space. Especially newcomers who will buy the top and get rekt in a few days when it dumps. What he's doing is such unethical considering his massive fanbase mainly consisting of beginners. I feel like not enough people are talking about this and taking to account the effects. Thanks for the read. Have a great day :) [link] [comments]  | ||
| It's not much but I finally own just over one whole ETH! Posted: 01 Mar 2021 08:07 PM PST I'm excited about actually owning a whole token now! Got into the game a bit late, I have some BTC but owning a whole one of those is a bit tough for the little guys. It's a small thing but after chipping away at it from week to week seeing that 1.0 is very rewarding. Here's hoping ETH staking brings good things! Cheers everybody and may your gains be large! [link] [comments]  | ||
| Stop trying to time the market, DCA FTW! Posted: 01 Mar 2021 09:02 PM PST Probably a repeat PSA, but seriously, if you're new (or even not new) to crypto, look into DCA-ing into your favourite coin rather than trying to buy the dip(s). Quick recap: DCA-ing or Dollar Cost Averaging is basically investing the same amount of money at set intervals over a long period, riding the market up and down... instead of trying to beat the market. It averages out the buy-in price and is a great way to take emotion out of the equation. A lot of exchanges have the option to do recurring buys, completely automating the process :) Anyways, thought it was worth repeating the message for the newcomers. Have a play around with this DCA calculator (I use Crypto Head but there's a few out there) to see what your ROI would have been if you invested X amount of BTC over the period of your choice. [link] [comments]  | ||
| Posted: 01 Mar 2021 09:17 PM PST One thing I noticed at this sub is the lack of support and not being constructive critics when they come across stuff they disagree. I remember how a few weeks ago when there was a bit of salt against doge, someone talking about how they had doge and Elon tweet pumped it and they commented how they were up X% and bullish on it. Then the people downvote and comment derogatory things, like "you're stupid to think you'd profit in the long run" or "that's a shitcoin". Turns out most of the time they know. Tell them to start taking profits instead. A lot of people came to make money, not for the tech, not caring if all the odds are against them as long as they make money. The point is we're in crypto and we're making money in a market that will be huge in the future. u/Weaver96 did state after all, Having this "my coin is going to do better than your coin" mentality is toxic. Most cryptocurrencies depend on each other's success and can coexist together perfectly. Edited the title. [link] [comments]  | ||
| Posted: 01 Mar 2021 07:23 PM PST Neither should you. Not afraid to admit it at all. I'm in crypto for the profits. People are going through tough times. Even before lockdowns. Don't get me wrong, I'm 100% Pro decentralization of the internet. I got FOMO'd into crypto late 2016, started out very modest with XRP, did good, got my little pot of gold, and I've been messing around since trying to reach the moon. I don't want 50K or 100K more. No. I obviously want much more than that. I'm looking for a cool $500,000+ after tax, and thats my only purpose holding. I'm waiting for my ticket 🎫. I strongly feel it will come within good time. Just waiting for my holdings to hit that 10x mark. I understand not all my holdings will go that route. After all, I have really heavy bags from 2017. Especially APPC. But a few others that have paid off during this boom. Then I plan to compile them into 1 or 2 then watch that go up 5x more again. Nobody should be ashamed to admit that's what they want, and history shows you can get that by simply holding. Although not gaurantreed you specifically will. Anyone who held BTC through the gain, and crash and back up to 50K is sitting good. Anyone who dumped into neo when it was super low last year is doing golden. Same with many other alts. So be proud of your goals. We are in very tough times, and crypto saved my ass. I'd be worse off without it. Business is stupid slow. I can't trust Fiat 💵 I can't trust banking 🏦 I can't trust politicians no matter which way they float. I can't trust the media I can't trust centralized conglomerates like FB, Twitter, youtube google I can't trust large corporations to have my best interest in mind I can't trust medication I can't trust police I can't even trust all my neighbors I can't trust the school system to educate my kids properly. I can't trust my taxes are being spent the right way. It's sad , I, you everyone has every single legitimate reason not to trust this list. I can however trust decentralized dapps not run by any one person. I can trust bitcoin won't break into my home and take my kids away. I can trust Bitcoin won't feed me propaganda I can trust Bitcoin won't sell my information I can trust Bitcoin won't judge me based off my credit score I can trust Bitcoin won't judge me based off my political, religious beliefs, or the color of my mixed race skin. I can trust Bitcoin won't censor me. I can trust Bitcoin won't try to take my rights away for more security. I can trust Bitcoin won't spam me. I can trust Bitcoin won't force me to stay home. I can trust it won't trick me into taking meds not good for me. I can trust bitcoin won't taint my food with dangerous additives. I can trust bitcoin won't taint my water supply with led. And last but not least... I can trust Bitcoin won't make me click yes to a 1000 page agreement written in Dog Latin that is just a really long way of telling me rules will get changed to anything at anytime without any reason without my consent and there is nothing I can do about it...if I want to keep using it. I can trust that someone will accept my bitcoins as long as we still have electricity. It wouldn't matter if we lost our electricity , everything is Fked at that point. So why not? I'm riding this till it's end, or till my end. [link] [comments]  | ||
| Cardano Becomes a Multi-Asset Blockchain With Today's Hard Fork Posted: 01 Mar 2021 12:58 PM PST
 | ||
| How would everyone feel about limiting memes to only 1 day per week? Posted: 01 Mar 2021 08:22 AM PST As of now, memes are only allowed on the weekend. However, now the weekend is just 48 hours straight of Moon farmers re-posting the same memes over and over again. 28% of the time this sub is completely useless if you want to share high quality content or have a real discussion. I actually miss discussing crypto on the weekends. If we only allowed memes on Sunday that would be a healthy 14% of the time. [link] [comments]  | ||
| Posted: 01 Mar 2021 09:57 AM PST
 | ||
| How I turned my $50 to $18.73 with fees alone, and the lesson to be learned Posted: 01 Mar 2021 09:17 AM PST I swapped $50 of ETH to USDC and ended up with a mere $18.73. Fucking fees. Had it on metamask and for fun I decided to see if I can put it in USDC so I can swap for shitcoins that only have USDC as trading pairs. Uniswap btw. I was stupid enough to overlook the gas fees. This is where the title of the OP comes in. Fees are literally slowing down adoption. Buy fees, sell fees, send fees, fees. Unless you have whale sized portfolios, Just HODL. I could of had more profit than from ETH than what I just did. The fees aren't worth it. [link] [comments]  | ||
| Ethereum will scale, in 2 weeks optimistic rollups are going to be released to mainnet. Posted: 01 Mar 2021 12:42 PM PST ETH gas prices have been super high and the community has been counting on Optimistic rollups to provide scaling to the network. The scalability improvements are 140x the current transaction throughput which makes the fees very cheap. Optimistic rollups also use Ethereum L1 security unlike other L2s which use a completely separate security model with different tokens. What's even more exciting is this looks like it will be widely adopted throughout the community with the market leaders.... Synthetix, Uniswap, Chainlink and Coinbase all already committing to using Optimistic rollups! Don't see many people talking about this upcoming release here so I thought I'd give it a shout out. [link] [comments]  | ||
| Explained: The Furucombo Evil Contract Hack (Feb 2021) Posted: 01 Mar 2021 09:39 PM PST
 | ||
| Citi's Report on Bitcoin is the perfect primer Posted: 01 Mar 2021 06:52 PM PST It's a 106 pages long and lays out the history of Bitcoin from its invention, to how it works, where it is now and where it is going. This was clearly a long time in the making and some seriously professional work has gone into it. I would have posted the link directly but Reddit returns "Access Denied" when linking in the title. Do yourself a favor and take a look at it. If you have a friend or relative who is interested in Bitcoin, send them the link and it will tell them what they need to know to decide if it's for them or not. EDIT: For those concerned about its length, the first page summary of the report where they conclude by saying that BTC is at a tipping point to potentially become the currency for international settlements is the TL;DR version. [link] [comments]  | ||
| Somebody sent 5 Bitcoin ($243,153) to a confirmed Elon Musk Giveaway Scam Address Posted: 01 Mar 2021 09:40 PM PST Last night @Whale_alert twitter account reported that somebody sent an eye watering 5 btc to a confirmed Elon Musk giveaway scam address. Tweet: https://twitter.com/whale_alert/status/1366510689720803330?s=19 If you use twitter you are likely familiar with the scam stating that Elon is giving away bitcoin if you complete certain actions. They frequently appear in the replies to tweets about crypto. You may have even seen them pop up here in the daily discussion a few times, they never ussually last more than a few seconds before they are deleted by the mods though (thank you mods!). The people creating the comments (bots most likely) are ofcourse not affiliated to Elon Musk in any way. Out of curiosity I looked at this particular scam bitcoin address on blockchain explorer. Link: https://www.blockchain.com/btc/address/1EMuskYdgB3BtwxpEP46txN5EAN8KnA7dE At the time I'm writing this 8.96 BTC (over $438,000) has been sent just to that one scam address. I would assume most people here are too crypto savvy to fall for a scam like this but many of us have friends and relatives who are discovering crypto for the first time at the moment. If you are discussing crypto with them it may be worth giving a few tips about how to stay safe if you fear they may be susceptible to this kind of thing. It seems that some people are falling for it and the scammers are making a lot of money. [link] [comments]  | ||
| Posted: 01 Mar 2021 10:01 AM PST Its just not the place for NY AG's to issue a "warning" against an entire asset class that many institutions are investing in today and giants like Fidelity call digital gold and recommend their investors to have a position along with debt component of their portfolio. Whats worse, the NY State already issues BitLicense, and NY AG's statement that investing in cryptocurrencies is dangerous contradicts the very purpose why BitLicense is issued in the first place. Meanwhile the State operates its own lottery ticket scheme: https://nylottery.ny.gov NY AG is not a licensed financial advisor to even issue such statements. Absolutely reprehensible action by self proclaimed "saviour of investors". Multiple banks in her jurisdiction have been found to have laundered money for drug cartels and terrorists. As someone so obsessed with protecting investors, she seems rather not bothered with whats going on with these banks that launder cartel money. You spend 2.5 years and millions of dollars investigating Tether, for a fucking slap on the wrist fine that concluded with Tether not even having to admit they did anything wrong. Fuck you, Letitia James. [link] [comments]  | ||
| BTC Balance Sheets: 42 Companies Hold 1.3 Million Bitcoin Worth More Than $65 Billion Posted: 01 Mar 2021 01:59 PM PST
 | ||
| Why Are So Many Multi-Billion Dollar Companies Building On VeChainThor? - CREAM Posted: 01 Mar 2021 09:32 AM PST
 | ||
| [Serious] I store my backup wallet recovery phrase in fake diarrhea-stained underwear. Posted: 01 Mar 2021 11:29 AM PST 99% burglars are not digging around underwear. Make sure you tell family members. I have two other backups in professional places. How to do it:
[link] [comments]  | ||
| Energy consumption: Bitcoin mining vs Financial banking system Posted: 01 Mar 2021 11:31 PM PST
 | ||
| History will remember that Google failed to be an early cryptocurrency adopter... or even supporter. Posted: 02 Mar 2021 02:08 AM PST PayPal, Facebook, Twitter, Microsoft (accepted crypto payment for years), Amazon (rumoured to be working on its own crypto project.) etc etc The list of tech firms that have displayed real support or interest towards crypto is grown yet Google (although some search results have been changing) has been almost non-existent. In fact there's been many occasions that Google has done the exact opposite. In the their 2018 rewind round up of the year, Bitcoin was amongst one of the most searched terms however instead of featuring it... they left it out. They also banned crypto ads and there was speculation of the shadowbanning YouTube channels etc. Dispite being one of the most searched terms which Google has profited from there has been almost zero public support.. not even a Google Doodle for bitcoin halving day or 10 year anniversary despite many Redditors trying to drum up campaigns for them to do so. Founders Larry Page and Sergey Brin.. no comment Google CEO Sundar Pichai's opinion on Bitcoin or crypto... Unknown although his son was apparently mining ETH. As a leading tech firm I think its important for history to note that Google was not even at the table during this revolution... let alone a pioneer. GOOGLE BITCOIN BAN: NEW POLICY ON CRYPTOCURRENCY IS 'HEAVY-HANDED' AND 'UNETHICAL', SAY EXPERTS Google's YouTube Goes To War With Bitcoin And Crypto Google's Censorship Of Cryptocurrencies Goes Way Beyond YouTube [link] [comments]  | ||
| Visa: 25% of Latin Americans Want to Pay With Cryptocurrencies Posted: 01 Mar 2021 02:23 PM PST
 | ||
| How to explain bitcoin to people who never heard about it Posted: 02 Mar 2021 01:53 AM PST
Why do u value the money that is in your pocket it is because other people do. Money is worth something, because other people think it is. Everything is about trust so money whether it is gold or bank of engeland notes only works when everybody else trusts it. Now for years people have tried create digital money that other people can trust, but it always failed. This is because imagine if I created an online currency called the WittyMannerDollar what would stop me from giving myself a million wittymannerdollars or stealing your wittymannerdollars for me. Bitcoin was designed to be a solution to this problem and that is why it became so popular. It has a special type of database called a blockchain and a blockchain is like a huge book and everyone who owns bitcoin has a copy of this book. For everytime the bitcoin is send from me to Georga a copy of that transaction goes into everyone's book. People are excited about this, because most normal data bases like a SQL database has someone in charge who can change the entries. For example me giving myself a 1000 WittyMannerDollars. The blockchain is different to normal databases, because nobody not the banks or the governments or the person who invents it is in charge and can change it, it is run by the people who use it. There is some really clever mathematics behind all of this, but it basically means that bitcoins cant be faked, cant be hacked and they cant be double spent. So when people hold on to this digital money, they can trust that it has some value! [link] [comments]  | ||
| How I learned to never move around Bitcoin, ever Posted: 01 Mar 2021 05:34 PM PST I'm fairly new to Crypto, and usually when I want to move stuff around a bit, I convert it to Litecoin. But today I thought: meeeh, why pay the conversion fee? Just send the BTC directly. Didn't really pay much attention to the fees (they were displayed in BTC), so I thought 0.001 BTC were 0.0001BTC instead (at a glance). clicked okay and was like: "Huh? Wait, that's not what I sent. Where's the rest?" It took me a while to realize, that trying to move 100€ worth of BTC around just cost me 50€ in fees. Well, today I learned not to ever send BTC around as BTC and rather pay conversion fees 2 times. Just wanted to share my incredible stupidity in order to cope with it. [link] [comments]  |
| You are subscribed to email updates from Cryptocurrency News & Discussion. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment