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    Cryptocurrency Monthly Skeptics Discussion - April 2021

    April 30, 2021

    Cryptocurrency Monthly Skeptics Discussion - April 2021

    Monthly Skeptics Discussion - April 2021

    Posted: 31 Mar 2021 05:00 PM PDT

    Welcome to the Monthly Skeptics Discussion thread. The goal of this thread is to promote critical discussion by challenging popular or conventional beliefs. Please read the rules and guidelines before participating.

    Rules:

    • All sub rules apply here.
    • Discussion topics must be on topic, i.e. only related to skeptical or critical discussion about cryptocurrency. Markets or financial advice discussion, will most likely be removed and is better suited for the daily thread.
    • Promotional top-level comments will be removed. For example, giving the current composition of your portfolio or stating you sold X coin for Y coin(shilling), will promptly be removed.
    • Karma and age requirements are in full effect and may be increased if necessary.

    Guidelines:

    • Share any uncertainties, shortcomings, concerns, etc you have about crypto related projects.
    • Refer topics such as price, gossip, events, etc to the Daily Discussion.
    • Please report top-level promotional comments and/or shilling.

    Resources and Tools:

    • Read through the CryptoWikis Library for material to discuss and consider contributing to it if you're interested. r/CryptoWikis is the home subreddit for the CryptoWikis project. Its goal is to give an equal voice to supporting and opposing opinions on all crypto related projects. You can also try reading through the Critical Discussion search listing.
    • Consider changing your comment sorting around to find more critical discussion. Sorting by controversial might be a good choice.
    • Click the RES subscribe button below if you would like to be notified when comments are posted.

    To see prior Skeptics Discussions, click here

    submitted by /u/AutoModerator
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    Daily Discussion - April 30, 2021 (GMT+0)

    Posted: 29 Apr 2021 05:00 PM PDT

    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:

    submitted by /u/AutoModerator
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    Being an asshole to newcomers does not help our community nor helps adoption

    Posted: 29 Apr 2021 09:38 PM PDT

    Any person who has the curiosity or the initiative of joining the crypto world should be genuinely helped because this is what crypto really is about.

    I see serious questions being downvoted way too much than i would`ve hoped. It does not fucking matter that you`ve seen the same question 1000 times, we need to be considerate with our fellow newbies.

    We should all be happy new people join this sub, decide to move their investments to crypto and we should do all our best to keep those guys around.

    End of the rant

    submitted by /u/BirdSetFree
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    Anyone else literally just in it for the money?

    Posted: 29 Apr 2021 10:46 PM PDT

    I've seen a bunch of people talking up the nobility of crypto ownership as an anti censorship tool, or how block chain tech is going to change the world or how its a defense against fiat currencies, or how they're holding certain coins out of high minded principles

    I can't be the only one who is here just for money right? Who doesn't care about that stuff as long as my investment pays fruit?

    submitted by /u/TerrisKagi
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    For the crying out loud, stop telling your friends and family to invest in crypto

    Posted: 29 Apr 2021 05:53 AM PDT

    The first and only rule of persuading people to invest in cryptocurrencies is don't.

    We all want this community and the market to grow. I also understand that you want your friends and family to catch this golden opportunity. But persuading them to put their money in something they're uncommitted to, leads to FUD and paper hands.

    Understand that telling them, "I earned X amount in X days" translates to "[you could've] earned X amount in X days [but didn't]." In their minds. You're leveraging their fear of missing out. Trust me, I would've loved to take the leap of faith back in 2016 when I found out about crypto. I didn't and I'm okay with that because, this year, I took the opportunity. Today, I live with missing out on those gains because it was the logical decision for me then. So let them decide what's logical to them now.

    If you're itching to share, then talk about it like a passion or hobby. Share the fundamentals: what it's trying to solve; how it made an impact; what you've learned: what you're excited about, share the good and the bad. Most of all, share with zero expectations that they'll invest or even care.

    If you really believe in the value of cryptocurrency—the gains, opportunities, tech, and values—then let it speak for itself. It doesn't need evangelists, it isn't a religion; it's a show, so grab your popcorn and sit the hell down!

    submitted by /u/M00OSE
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    Crypto changed my life in 6 short months

    Posted: 29 Apr 2021 07:15 PM PDT

    I've never valued money. As far as my memory goes, I never cared for getting or spending money. Never had my parents, teachers or friends ever explain money and it's value and I have lost a ton of money because of it.

    That is until I got into crypto and I started understanding more and more about the value of money and how our financial institutions work which completely fascinates me.

    I started spending less, saving more and now I'm at the absolute best financial situation of my life and I have yet to touch any of my crypto profits.

    I hope your ride has been as fruitful and life changing as mine in spite of the money (that's just a bonus ;))

    submitted by /u/ZaidiePops
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    New scam emerging. Harambe Coin

    Posted: 29 Apr 2021 10:57 PM PDT

    Some people are trying hard to get naive individuals to buy their new scam coin. It's called Harambe Coin and claims to work with the big gorilla sanctuaries but obviously that isn't the case. There are bots writing in every thread trying to make it seem like people actually think it's a good idea.

    This was just a heads up and I hope an early warning is enough to slam that scam into the ground but maybe I'm the one who's naive ⚠️

    submitted by /u/Im_A_Model
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    Beginners Guide to Crypto Investing

    Posted: 29 Apr 2021 09:10 PM PDT

    I got tired of giving the same spiel to my friends and family about Investing in Crypto when they ask so I made the ultimate guide to investing in Crypto. Everything I know and that I would tell you in one complete document. It's got a bunch of technical explanations, guides to buying and selling, and research recommendations, and even my personal favorite coins. Feel free to share it around and spread the word of Crypto.

    https://imgur.com/gallery/dnx0RZ0

    PDF Version -> https://www.mediafire.com/file/h00tk6llafcf6td/Beginner's+Guide+to+Cryptocurrency+Investing.pdf/file

    *I accidentally deleted the original post by mistake while trying to cross-post. Sorry

    *Updated for Imgur Link

    *Information is specific to the US regulatory guidelines. For international viewers please consult your own country's tax and securities guidelines

    submitted by /u/mocacola15
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    VeChain announces $1 million grant as VET price eyes comeback

    Posted: 29 Apr 2021 07:09 PM PDT

    Student-led group sells NFTs of Trump tweets for charity

    Posted: 29 Apr 2021 01:41 PM PDT

    idk about you guys, but I grew up in the ghetto. Knowing those I cared about & grew up around were destined to work until their dying day or end up in jail out of financial desperation causing them to steal or run a nefarious business kept me from ever being able to keep my mouth shut about Bitcoin

    Posted: 29 Apr 2021 06:42 PM PDT

    And cryptocurrencies in general. Instead, I spent the last 10 years telling and gifting Bitcoin and other cryptocurrencies I saw promise in, to all those I cared about most. That one drug dealer-like trick has gotten everyone I cared about most on board in the last 10 years. So for those who are telling those they care about crypto for the same reasons, I say speak on, gift on; otherwise, those at the bottom we were born with will stay at the bottom if we don't give them a little push.

    ​

    For anyone who was going to ask: "How can you gift Bitcoin or Cryptocurrencies to someone without a wallet?" Well, I usually tell them to check their email for a cryptocurrency gift I sent them; on Coinbase, you can send it to someone's email. The owner of the email will receive an email letting them know they have some cryptocurrency waiting for them. Once they open an account, whatever you sent them will be propagated on it.

    If anyone knows of any other options like this to gift cryptocurrency to someone without a wallet, please let me know and I'll edit it into the post.

    submitted by /u/SatOnMyBalls_
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    Germany has passed a new law that would allow thousands of institutional investment funds to invest in cryptocurrency

    Posted: 29 Apr 2021 09:06 AM PDT

    Africans use Crypto to make up for FIAT failure and Government Censorship

    Posted: 29 Apr 2021 10:02 AM PDT

    DaVinci NFT gallery on Harmony blockchain has licensed Rick and Morty NFTs

    Posted: 30 Apr 2021 12:41 AM PDT

    It doesn't matter if you invested $100 or $500K. Bottom line is, you're doing something to improve your future.

    Posted: 29 Apr 2021 10:36 AM PDT

    Time in the market is the key factor, so if you're patient, you'll make decent money regardless of how much you have invested.

    Even if all you have invested is a few hundred dollars, that amount could be significant to you, and the gains you receive will also be significant, A smaller investment at first is ideal to test the waters, it gives you time to understand how crypto works, and do your own research on projects. DCA helps manage your Crypto investment, and is a favoured method of the sub.

    When I started I would've been amazed just to double my investment, things are looking good now thanks to my patience. Remember, only invest what you can afford to lose, do your own research, and don't be afraid to ask, we're friendly here.

    submitted by /u/mhucpr
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    Shower thought: The shitcoin universe is pretty much just multilevel marketing at this point.

    Posted: 29 Apr 2021 12:35 PM PDT

    I recently spent a couple weeks doing a little dive into that shithole of a landscape. Telegram channels, token subs, discord, messenger chat groups. Holy shit. It's basically just a twenty year old dudes version of multilevel marketing.

    You get in early and then everyone you get to sign up after you makes you progressively more wealthy (in theory). And the people you bring on need to bring in more people so they can make money! Because these shitcoins have ZERO utility, the only hope to make money is by hyping people up that they can also make money and that it's "still early!"

    And because of all of the crypto millionaire stories everyone's heard, everyone who gets into a coin early thinks that could be them and so they froth at the mouth telling anyone who will listen how incredible the coin is even thought they can't actually explain WHY THE FUCK THE COIN EXISTS IN THE FIRST PLACE.

    Your shitcoin is going to make you as wealthy as that chick from high school that massagers her friends about her green cleanse.

    No one needs your green cleanse Alicia. There's a vitamin shop a mile away. Why does your product exist. TELL ME WHY IT EXISTS!

    submitted by /u/Myomyw
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    Want another reason to love Michael Saylor of MicroStrategy? May I present you Saylor Academy! FREE College Course Material. FREE Certificates of Completion. Math, Finance, Economics, Business, Computer Science and More!

    Posted: 29 Apr 2021 06:20 PM PDT

    Famed Michael Saylor of MicroStrategy, Inc, defender, hodler and promoter of Bitcoin and other CryptoCurrencies, is also the founder of one of the most under-rated learning resources on the Internet.

    May I present to you, Saylor Academy: https://www.saylor.org/

    Saylor Academy offers FREE College Courses that come with FREE Certificates of Completion, and many even offer Cheap ($25) College Accredited Exams.

    Subjects:

    Business

    Economic

    Computer Science

    Math

    And More

    Happy Learning Everyone!

    submitted by /u/SolorMining
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    One day, we might see 0.01 BTC and think "jeez, that sounds like a lot of money".

    Posted: 29 Apr 2021 07:03 PM PDT

    I was just scrolling through old bitcointalk threads in 2015 and everyone was talking about how they owned whole bitcoins like it was nothing and talks of whales were seen in a less dramatic way than today.

    Isn't it crazy now that someone is held as well invested if they just had 1 bitcoin? Bitcoin is only going to get more and more incredibly scarce in the future, as people send to non-existent addresses, get locked out of their wallets, forget, etc. And when we realize that most of the world still hasn't caught up on crypto yet, we should come to appreciate that we found out about crypto sooner than the others, and our small stacks may not be so small in the future.

    submitted by /u/Iiau_
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    If you haven't read the Ethereum whitepaper, I recommend you at least have a glimpse of it.

    Posted: 29 Apr 2021 05:44 PM PDT

    https://ethereum.org/en/whitepaper

    I know whitepapers are quite technical and meant for mostly software developers, but you have to admit that Vitalik is a damned genius, and you should look at some key points that I feel are worth understanding.

    Already, by reading the preamble, you already see that he wanted to stray away from cryptocurrency only being a currency, and turn it into something way, way more. He felt like creating specialized blockchains for separate use cases was not ideal; Ethereum became an abstraction.

    What is more interesting about Ethereum, however, is that the Ethereum protocol moves far beyond just currency. Protocols around decentralized file storage, decentralized computation and decentralized prediction markets, among dozens of other such concepts, have the potential to substantially increase the efficiency of the computational industry, and provide a massive boost to other peer-to-peer protocols by adding for the first time an economic layer. Finally, there is also a substantial array of applications that have nothing to do with money at all.

    He goes on and lists the origins and philosophies of Bitcoin and crypto. Did you know that b-money was the first to propose the proof of work system?

    There's just such a massive wealth of information that isn't just for you to understand how Ethereum works, but the history of crypto.

    Vitalik and his whitepaper is the reason why we have DeFi, NFTs, and other competing blockchains. He changed crypto completely, and just reading this whitepaper is a piece of history. This here should be glorified as one of the greatest of all time, to the likes of Satoshi's.

    submitted by /u/Bulliiish
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    Cardano - Step by step guide to staking ADA

    Posted: 30 Apr 2021 12:51 AM PDT

    Cardano - Step by step guide to staking ADA

    Cardano, and its native coin ADA, is one of the most solid blockchain platform projects currently. The team has shown repeatedly that they can deliver on their promises and the project is famous for being backed by peer-reviewed research. Exciting news are coming for this project so be sure to check their website https://cardano.org and their roadmap https://roadmap.cardano.org/en/.

    This post will be a step-by-step guide to staking your ADA. There are various ways to proceed but we will be using the Yoroi chrome extension. Additionally, although not required, it is highly recommended to use a hardware wallet. Any of the following will do:

    • Ledger Nano S
    • Ledger Nano X
    • Trezor model T

    This guide will cover the following:

    1. Set up the Yoroi google chrome extension
    2. Connect or create your ADA wallet
    3. Send ADA to your wallet
    4. Choose a stake pool and delegate your ADA
    5. Staking rewards

    1) Set up the Yoroi google chrome extension

    First of all, we need to install the Yoroi Chrome extension. Navigate to the official wallet page https://yoroi-wallet.com/#/ and download the extension.

    ​

    Download the Yoroi Google Chrome extension

    Once dowloaded, you will need to click 'Add to Chrome' and 'Add extension' to enable the extension in Chrome.

    It will then appear in the top-right corner of your Chrome browser (click the little puzzle piece icon) and you may want to pin it to keep it visible.

    ​

    Shortcut to the Yoroi extension

    Now you can launch the Yoroi extension and, as this is the first time, we will need to go through a few setup steps:

    • Choose language
    • Agree to the terms and conditions
    • Choose 'Simple' level of complexity
    • Skip 'Cardano payments URL' and confirm (you can always set it up later if needed)

    That's it, the extension is ready to use and your home page should now look like this.

    ​

    Yoroi wallet home screen

    2) Connect or create your ADA wallet

    The safest option at this point is to use a hardware wallet. If you do not have one yet, you can always create a local wallet to start with (and and transfer your coins to your hardware wallet when you do buy one).

    2.a) Connect to a hardware wallet

    I will use the Trezor model T to illustrate but the Ledger Nano works similarly

    • One the home screen menu, select 'connect to a hardware wallet',
    • Select 'Cardano'
    • Select your hardware wallet type: either Ledger or Trezor
    • Choose Shelley-era wallet, as we want to be able to stake
    • Your hardware wallet needs to have already been initialised, press 'Next'

    ​

    https://preview.redd.it/2gn4kmrwl9w61.png?width=523&format=png&auto=webp&s=1c79fe239e5b7691504cb808998406fdf900b070

    • Now, make sure your hardware wallet is connected to the computer and unlocked, press 'Connect'

    ​

    https://preview.redd.it/fqtxyesxl9w61.png?width=552&format=png&auto=webp&s=3021abf0a96c419a95c29bdcd2575a2f7d477f96

    • A new page pops up to ask you to transfer your public key to the wallet. This is expected as the public key allows you to receive money to your wallet. Note that the private keys never leave your hardware wallet. Now click, 'Export'

    ​

    https://preview.redd.it/a7bg4hvyl9w61.png?width=929&format=png&auto=webp&s=af7e7cd73343e4e803797abd151a2f85d74f6423

    • Then, the wallet name, retrieved from your hardware wallet, will appear. Click 'Save' to complete this step and reach the Yoroi dashboard.

    2.b) Create a local wallet

    This section is only if you do not own a hardware wallet and want to use a software wallet instead. If you own a hardware wallet and have completed step 2.a, you can skip this section and proceed to step 3.

    • On the home screen menu, select 'create wallet',
    • Select 'Cardano'
    • Choose 'Create wallet'
    • Enter a wallet name and a strong password, then 'Create personal wallet'

    ​

    https://preview.redd.it/lk699320m9w61.png?width=576&format=png&auto=webp&s=58fd77bf09890ddc655590c92ec9f1cf840b4626

    • The next step will give you your 15 words seed phrase. Make sure to write it down (on paper, no electronic support) and to keep (several copies) safe and labelled.

    ​

    https://preview.redd.it/3cwl5x21m9w61.png?width=742&format=png&auto=webp&s=091cc3fb943d0775033ca00fd20ef9388660b67f

    • Once you have written it down, you will be asked to enter it to check you have it correctly.
    • Now you can confirm, your wallet is created and you are taken to the Yoroi dashboard.

    3) Send ADA to your wallet

    Welcome to your Yoroi dashboard.

    ​

    Yoroi dashboard

    In order to transfer ADA to your wallet, simply go to the 'Receive' tab in order to copy your address. You can then use this address to transfer the ADA you will have bought in your favourite exchange. Note that ADA transaction fees are rather low at roughly 0.17 ADA.

    ​

    https://preview.redd.it/zgghlhj3m9w61.png?width=1238&format=png&auto=webp&s=7f71d4a58885bcbbb9c0c8008d0635a84baf13ee

    4) Choose a stake pool and delegate your ADA

    From your dashboard, we now move on to the 'Delegation' tab.

    ​

    https://preview.redd.it/fthbb2r6m9w61.png?width=1231&format=png&auto=webp&s=5d326a09dd1e5653bf5dfe98f9e4a9656ea6d21e

    Here, we need to choose a staking pool from the list. If you do not know yet which pool to use, the best thing to do is to navigate to https://pooltool.io/ in order to find a staking pool that you like, more on that later.

    Once you have chosen a pool from the list, simply click 'Delegate' and confirm. You will also have to confirm the delegation with your Trezor/Ledger if you are using a hardware wallet. That's it, you're all set and you should see the total ADA delegated onto your dashboard. A few things to note:

    • you can only delegate to a single pool
    • but you can cancel the delegation or switch pool at any time, there is no lock-up period
    • there is a 2 ADA staking fee registration that you need to pay the first time you start staking, so you do not need to pay it again in the future if you switch pool or add ADA to your wallet
    • any ADA sent to your wallet will automatically be staked in the pool you have chosen
    • similarly, the rewards are automatically added to your wallet and thus the interest is compounded.

    Now the remaining question is how to choose a stake pool. The first thing to keep in mind is that there is no risk associated with staking ADA and the worst that can happen is that you do not receive any reward. First of all, we need to consider the following

    • Epoch: the staking rewards are computed for each epoch, which lasts 5 days.
    • Fees: each pool will charge a fixed fee (typically 340 ADA per epoch) and a variable fee (aka pool margin). The fees will not be taken from your wallet and you can only earn ADA by staking. The fees are charged to the total amount earned by the stake pool during the epoch and then, the remaining is distributed among the participants of the pool proportionally to their contribution to the stake pool. In the example below, there will be 9,000 ADA left to be distributed to the members of the pool:

    ​

    Total pool reward (example) 10,340 ADA
    Fixed fee (340 ADA) -340 ADA
    Left after fixed fee 10,000 ADA
    Variable fee (e.g. 10%) -1,000 ADA
    Left after all fees 9,000 ADA

    ​

    • Saturation: in order to discourage centralisation, the concept of saturation decreases the amount of reward to too large pools. Currently, the saturation level is 64M ADA. This means that you should not stake your ADA to pools where the staked amount is more than 64M ADA.

    Now, let's go to https://pooltool.io/ to select our pool.

    ​

    A few stake pools on pooltool.io

    The important fields are the following:

    • Pool ID: you can copy this address to paste in your Yoroi delegation tool once you have selected the right pool
    • Epoch Fee: these are the fixed fees and should be 340
    • Variable Fee: you want to avoid too large fees but it is also worth paying a bit more to join a pool that you trust. Be aware that some pools are effectively closed and thus charge a 100% fee. Note also that some pool will have a very low, even zero, fee to help them grow but it might be increased in the future.
    • Declared pledge: the amount pledged by the pool operator at the time of creation of the pool, not massively important for the pool selection.
    • Epoch ROS: the expected annualised return in the current epoch, this will typically be around 5%.
    • Live stake: the total amount staked in the pool, it is important that this remains under the saturation threshold of 64M.
    • Lifetime ROS: the historical return of the pool, this shows you past performance of the pool.

    There is also an official calculator to compute your expected rewards depending on the various parameters: https://cardano.org/calculator/?calculator=delegator .

    5) Staking rewards

    The staking rewards are paid with a three epochs delay. This means that you do not receive any reward for the first 15-20 days but you keep receiving rewards for 15-20 days if you cancel your delegation.

    The rewards are paid at the end of every epoch (for the amount you delegated three epochs prior), hence every 5 days. The typical APY will be around 5% but the rewards are spread over 365/5 = 73 payments. Consequently, the average rewards per epoch is approximately

    ​

    Average reward per epoch

    For example, this is approximately 0.68 ADA per epoch per 1,000 ADA delegated.

    ​

    Average reward per epoch for 1,000 staked ADA

    I hope you will find this guide helpful.

    Links

    Cardano website https://cardano.org and the roadmap https://roadmap.cardano.org/en/.

    Yoroi wallet https://yoroi-wallet.com/#/

    PoolTool https://pooltool.io/

    Calculator: https://cardano.org/calculator/?calculator=delegator

    submitted by /u/brocko33
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    Microstraregy Announces Q1 Results! Company Owns 91,000 BTC and Has Not Sold Anything! They Will Continue To Invest In BTC And Preach BTC To Other Corporates

    Posted: 29 Apr 2021 09:47 PM PDT

    What percentage of your investment portfolio is tied to cryptocurrencies?

    Posted: 29 Apr 2021 09:00 PM PDT

    Show some love 🍻 My previous polls got hundreds of respondents and dozens of comments but only 3 upvotes :/

    View Poll

    submitted by /u/cpdk31
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    Dead Man's Switch: A Crypto Mystery. A documentary about Gerald Cotten, CEO of Canadian crypto exchange QuadrigaCX, who is believed to have faked his death and stolen over $200 million in crypto from customers. For those that don't understand "not your keys, not your crypto", here's what can happen.

    Posted: 29 Apr 2021 05:15 PM PDT

    I feel like most people here (including myself) have unhealthy habits regarding cryptocurrency and play it down

    Posted: 29 Apr 2021 03:49 PM PDT

    (disclaimer: I have no idea how to flair this, so I just put it under self story)

    I feel like most people (especially newbies) on this sub are like me, and constantly check their portfolio 24/7. The first thing we do after waking up is checking out exchange, then we spend hours a day researching and thinking about all the amazing project out there. While this doesn't necessarily have to be a bad thing, I am sure a lot of people get too sucked up and are really emotional about their investments.

    We all want to make gains, but constantly checking won't help, it will only lead to stress. Cryptos are amazing and its easy to get sucked up in this huge new world full of promising technology, but we all have to think about our mental health, too

    So what I want to say is relax, take a step back and hodl for the long term. Day trading will most likely be less efficient for you anyways, so why bother checking the charts every few minutes? Just buy crypto and stay informed, but don't forget about all of your other hobbies. Do things that make you happy and see crypto as what is: an investment, not a hobby.

    I kinda want to add that part of the reason why I wrote this post is that I want to stop myself from behaving like this lol

    submitted by /u/Kleecarim
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    I don’t care why you’re here. I’m just happy that you are.

    Posted: 29 Apr 2021 11:51 PM PDT

    I don't care if your here for money, I don't care if your here to fuel your degenerate tendencies .I don't care if your here if you believe in the tech or any other reason that brought you here. I'm just happy and thankful you guys are all here.

    With covid life has definitely been tough and this community means a lot to me, I used to lurk for ages and always left with a few laughs and feeling a bit more educated even thru all the rough moments

    Sure this community has its downfalls but every community does, I just hope that with a bit more positivity we can all continue to foster a space thats unique. Even with millions of people here I feel like I know you guys and that we are still a small community that looks out for each other.

    Seeing this community changing lives inspires me to contribute to it no matter how small my impact might be, it makes me want to be a better person.

    I love all of you and I wish everyone finds what they want in not only crypto but throughout life in general.

    One act of kindness can change a life no matter how small it is, so let's keep being nice to one another.

    Godspeed my crypto loves.

    submitted by /u/animepapi226
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    Even as a developer, I am surprised how easy it is to Create and Deploy a Token, even with zero capital(free gas using Matic)

    Posted: 30 Apr 2021 01:50 AM PDT

    Even as a developer, I am surprised how easy it is to Create and Deploy a Token, even with zero capital(free gas using Matic)

    Context: I am a developer usually doing Backend Web Development and/or Scripting. I recently got interested in this space and the tech really amazed me, naturally I started looking at developing in this space.

    I am surprised how easy it is to create and deploy something even on a L2 Mainnet without any money involved, I literally followed these steps:

    • Connect Metamask to official Matic Wallet site which airdrops 0.1 Matic(enough to pay for tons of transactions).
    • Copy paste an ERC-20 Template from OpenZeppelin
    • Edit the template to change token name, symbol and max supply.
    • Go to Remix Online IDE, add the code, and perform literally two clicks to compile the code and deploy it to Polygon(Matic) Mainnet.
    • Boom, I had the tokens in Matic Mainnet in my wallet.
    • Went to Quickswap and created a liquidity pool for my token using the remaining airdropped Matic.

    And Boom, for absolutely free, I now had Tokens on Matic Mainnet, which even had a little value because I created a trading pair on Quickswap.

    BTW, Quickswap is basically the Uniswap fork on Matic.

    No shilling, since you can't buy unless you have the contract address anyway, but here's some screenshots from Metamask and Quickswap:

    Metamask Balance

    Quickswap Pool

    If anything, this should tell you how easy it is to create a token and deploy it, and you should be a little cautious of any new random token which may seem promising.

    PS: Don't ask me why PZD, I don't know lol.

    PPS: Same steps exist for any network, be it Ethereum, Binance Smart Chain, xDai, Fantom etc. Just that Matic had super low fees and I had free 0.1 Matic airdropped from their site so I went with it.

    submitted by /u/sggts04
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    When everyone on r/cryptocurrency is recommending X coin, you should probably wait for a correction.

    Posted: 29 Apr 2021 08:33 PM PDT

    I don't think it's said enough that price increases require new buyers. When the majority of people on the most or one of the most popular crypto forums are actively shilling the same altcoin, who is left to buy it? Rather than induce FOMO, this should serve as a signal of a local top. The most prominent and recent examples of this that come to mind are ADA, LTO, and VET. The local high points of all of these coins almost perfectly coincides with the weeks they receive the greatest number of mentions in the daily discussion thread. Consider this the next time you are feeling peer pressured to buy the next hot coin here. You could even say that the worse the FOMO feels, the more likely a coin is to stop going up in the near future. At least until people forget about it for a while.

    submitted by /u/strawberryswissroll
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