Cryptocurrency Trivia today at 11a CT (16 UTC) - 850 MOON to winners! |
- Trivia today at 11a CT (16 UTC) - 850 MOON to winners!
- Daily Discussion - April 4, 2021 (GMT+0)
- Who's just trying to get out of poverty and couldn't care less about the technology?
- An often overlooked but extremely important crypto narrative.
- r/bitcoin is out of control
- Anyone else find it a bit odd being told how energy inefficient bitcoin is, whilst watching tv and seeing several gigantic diesel machines churn up thousands of tonnes of earth in Alaska to produce tiny flecks of gold?
- $800,000,000 in Ethereum Just Left Crypto Exchange in Likely Massive Institutional Accumulation
- I missed out on $260k
- I feel like Crypto.com doesn’t get nearly enough credit for what they’ve done for mainstream crypto adoption
- Thank You: 343 pounds (156 kilos) of Food given to people in my community in Venezuela
- What crypto taught me: Crypto made me totally numb to price drops in crypto and stocks!
- If you want to make stupid sums of money quickly in crypto, start thinking stupidly, and quickly
- Giant Crypto Whale Emerges, Moving $703,000,000 in Bitcoin in an Instant
- Invest in what you believe in, don't go for pump and dumps, my note for newbies.
- Miami Responds Positively to Paying Salaries with Bitcoin
- A Note & WARNING To The New Crypto Traders/Hodlers
- SuperBid did a partnership with the biggest music suppliers and an awarded & growing music platform - synthetic NFTs inc
- How did people buy Bitcoin 10 years ago
- Governments banning crypto show us that we need crypto.
- Cosmos $ATOM Insight, I did some research, thought I'd share
- Hip-Hop Star Snoop Dogg Says Bitcoin ‘Here to Stay’— Lauds NFTs for Creating Direct Connection Between Artists and Fans
- CryptoCurrency Beginners Wiki
- Overly Attached Girlfriend meme NFT sells for 200 ETH. (That's $400K USD for those of you that aren't math geniuses)
- DeFi - Automated Market Makers (AMMs), Liquidity Pools, Impermanent Loss
- Half a billion people just had their Facebook data leaked
| Trivia today at 11a CT (16 UTC) - 850 MOON to winners! Posted: 03 Apr 2021 07:00 AM PDT Today is Cryptocurrency Trivia Day! Livestream link: https://youtu.be/ec_42EhU3tI^ this will give you an advantage if yours are chosen, plus it also saves me time :p Answer cryptocurrency questions correctly to win r/CryptoCurrency MOONs! Instructions to be provided during the stream (don't worry, it's pretty easy!). Join with your Reddit username (you do not need to change your YouTube username). Your Reddit account must have posted in the r/CryptoCurrency subreddit before the event to qualify for the awards. 1st place: 500 MOON. 2nd: 250. 3rd: 100. [link] [comments]  | |||||||||||||||
| Daily Discussion - April 4, 2021 (GMT+0) Posted: 03 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:
Useful Links:[link] [comments]  | |||||||||||||||
| Who's just trying to get out of poverty and couldn't care less about the technology? Posted: 03 Apr 2021 11:05 AM PDT I just want to be able to not have to work for a few years or not be in crippling debt. It's so depressing. It actually wouldn't take much for me to achieve this but it's impossible with my current job and bills. I don't care about the technology. I just want to live a little bit before I die. I'm already old and have nothing to look forward to. I'm hoping crypto will be the way for me. Anyone else into crypto because of desperation? [link] [comments]  | |||||||||||||||
| An often overlooked but extremely important crypto narrative. Posted: 03 Apr 2021 07:03 PM PDT
 | |||||||||||||||
| Posted: 04 Apr 2021 01:55 AM PDT There was a comment about how bitcoin is the one and only important crypto, and you don't need to care about any other shit coins. About bitcoin being the first status symbol of store of value. I replied saying bitcoin is a great store of value but it's still cool to see what other coins can offer in terms of their blockchain technology and how it will affect the world an etc. Got permabanned. Stupid people. [link] [comments]  | |||||||||||||||
| Posted: 03 Apr 2021 06:23 AM PDT A quote from Satoshi Nakamoto: It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange. I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste. [link] [comments]  | |||||||||||||||
| $800,000,000 in Ethereum Just Left Crypto Exchange in Likely Massive Institutional Accumulation Posted: 03 Apr 2021 12:14 PM PDT
 | |||||||||||||||
| Posted: 03 Apr 2021 01:30 PM PDT I just want to share this because I see a lot of success stories but not a lot of fails. I just want to help balance out the conversations to paint a more accurate depiction of trading outcomes. I was pretty deep in an altcoin when the price was about $0.17. I sold out of the coin a few weeks ago. Last week the coin pumped to nearly $5. I would have made $260k if I just held onto it. This would be life changing money for me. Although having those gains would be great, it didn't really stress me out when I realized I missed out. Moral of the story is: It's easy to see the success stories and get FOMO or feel inadequate about you're own investment gains. Just keep in mind, stories like mine are just as common as the success stories. [link] [comments]  | |||||||||||||||
| Posted: 04 Apr 2021 12:52 AM PDT Remember the big news that Visa had completed their first crypto transaction on their network? Did you know it was Crypto.com who was behind that? Probably not, because everyone seemed to ignore that part. They're currently releasing NFTs with Snoop Dogg, they're sponsoring F1 race cars, and have the 6th most popular finance app on Android. I remember posts on this subreddit getting so much attention that would criticize them for hidden fees which didn't exist. (It was just people not understanding how spreads and low volume work.) People also gave them so much hate for making changes to their company and tokens without telling the public first. Granted some things they should've said before doing, but they're a startup in a brand new sector with regulations changing by the day. You can't expect them to divulge everything to the public before it's ready for the public. I'm not saying everything they've done is perfect and we can't criticize anything. Far from it. But I think they deserve a lot more credit than they get for bringing crypto to where it is today. [link] [comments]  | |||||||||||||||
| Thank You: 343 pounds (156 kilos) of Food given to people in my community in Venezuela Posted: 03 Apr 2021 09:15 AM PDT Some days ago someone crossposted an update I made of the project we started a week ago in Venezuela to help people with food during this humanitarian crisis. People from r/cryptocurrency asked me for my Bitcoin, Dash, Ripple, Bitcoin Cash and Hedera hashgrap (HBAR) wallet addresses to send money to buy food for my community. Yesterday 343 pounds of food were given to people in need. Most of them live in my community. There are far more people I want to help. Thank you for helping us. We are truly grateful for the food you helped us to buy. I wish we could continue to do this. Feel free to ask me any question. https://i.redd.it/q5zqcqiqbzq61.jpg https://i.redd.it/e12p4qiqbzq61 https://i.redd.it/1dc2upiqbzq61.jpg https://i.redd.it/4d7d0qiqbzq61.jpg https://i.redd.it/0i5supiqbzq61.jpg https://i.redd.it/2hpcpriqbzq61.jpg https://i.redd.it/5nm56qiqbzq61.jpg https://i.redd.it/umlbspiqbzq61.jpg https://i.redd.it/0vw8zpiqbzq61.jpg https://i.redd.it/r6anbqiqbzq61.jpg https://i.redd.it/azjn8niqbzq61.jpg https://i.redd.it/ymhs4qiqbzq61.jpg Without you, this wouldn't be possible, as cliché as it sounds, in most cases you are the only persons helping people who have lost their income and are unable to work, specially elder people and children. I appreciate anything you can send. We can receive funds in any of these addresses. Bitcoin: 16w9PsTMKGsd9u4wuGN6WV1tcQNrQBEQmU Bitcoin SegWit: bc1qun795pt5d5wdrtu5hhd44rhxmvkmnjxqd3m496 Dash: XtyggxgFeUzBkSYwsHsiFYcLaT4immJJ8P Bitcoin Cash: 1Lk4LsL9BECWFp2f5GEe6DRfm1QN3japLB HBAR Account ID 0.0.156734 Cardano: DdzFFzCqrhsiCjpHozf2qfwzjJiESoNaAiEXQZxMgLExcVcUoQWXt27GvnL39vj7pgrv2qYkxct9SoYUBeszogGsgTVk5Sf6oJvR9MMy Ripple: rD9ZAoVpE9SRZ451MQqXSePzWboVEceeAM Ethereum: 0xa0f86b2fbbabc064261fc6e49ecaf6342a87c141 Litecoin: LTfNEeUcJDVUpYHzquFSFvvq47PCeYaAbo Polkadot DOT: 14B1S3GqLrMy6oLNfukYmzbMy48b5sV7mRjQRBktWNqvGzQh [link] [comments]  | |||||||||||||||
| What crypto taught me: Crypto made me totally numb to price drops in crypto and stocks! Posted: 03 Apr 2021 10:23 PM PDT Pardon any grammer or spelling, it's 1:30 am and I'm dead tired. I used to fuss and freak out if my stock dropped 5%, I'm down ~25% on my portfolio (stonks) and I don't care. I'm numb now. If it drops, I'll buy more! I love crypto, at the least, if I get nothing from crypto, it taught me patience (a bit hard for a 17yo to think long term lol). And it taught that it doesn't matter if BTC is down 3%, 5%, 15% ect, It's still a great bet long term. I used to check my stocks every 5 minutes... Now I check them like once a week. The moral of the story, is that it doesn't matter what is happening today, what matters is long term. As long as you believe in a project (I have mine like mainly BTC and the rest in ETH, XMR, ADA, RVN, in that order). Fine a project you believe in, that you think will have good long term progress. Everyone says this, don't try to day trade, the fees will cost you. Just hold, or HODL as the saying goes. Don't go for memes like DOGE, SHITCOIN or any other random project that you can find on r/CryptoMoonShots or whatever. The best thing is DYOR, find a project (I suggest ADA, XMR, RVN and ofc ETH, BTC) and just wait. Obviously the lure of easy money is great, but remember, if it's to good to be true. It probably is. [link] [comments]  | |||||||||||||||
| If you want to make stupid sums of money quickly in crypto, start thinking stupidly, and quickly Posted: 04 Apr 2021 12:42 AM PDT That is how these markets are working right now. Pure herd mentality, right off of a cliff probably / eventually. Figure out what will attract the stupidest investors and then pile in and pump the hell out of it. It is all a bit reminiscent of the 2017-18 mania. And definitely of penny stocks. Shitty projects with limited fundamentals are posting gains that defy logic, while solid projects languish for a while. This condition is not permanent, and will be ameliorated as more professional and smart money enters the space...or as the stupid money grows tired, eventually loses most of it, and exits crypto- only to buy back in solely into ETH or BTC several months later because they are tired of getting "burned." Will that happen in 3 months, 1 year, or 2 years? I don't know, but it will happen. This is the way of any emerging market / asset class. Personally, I'm here to invest for the long term, so I could care less what the token of the week is. My sanity, and ability to sleep at night, are more important to me than trying to chase a quick buck. [link] [comments]  | |||||||||||||||
| Giant Crypto Whale Emerges, Moving $703,000,000 in Bitcoin in an Instant Posted: 03 Apr 2021 08:32 AM PDT
 | |||||||||||||||
| Invest in what you believe in, don't go for pump and dumps, my note for newbies. Posted: 03 Apr 2021 06:56 PM PDT I have been investing in crypto for a while now and have gained and lost, I have a bit in BTC and ETH that I have let sit for 5 years and yes great profit. Decided to do "shit" coins Jumped on the hype of a few pump and dumps but got in late a majority of times... you end up loosing or risking to much. I have found that the tech I had researched and believe will be a great business product have naturally grown 100-1000% in 3 months, I don't want to list them as its against the rules, but I implore you to do your own research before investing and looking at the advanced charts. Each to there own investment strategy but be aware of tax laws in your country, e.g. in Australia you pay tax on your gains with every swap, so if you chase the pump and dumps you could be in trouble, if you invest in something you believe in and it flys you will generally make more with way less hustle. I have a few friends who have invested and swapped in and out all year making 300-400k in profit, I have a feeling they are not going to have a good tax time. [link] [comments]  | |||||||||||||||
| Miami Responds Positively to Paying Salaries with Bitcoin Posted: 03 Apr 2021 04:19 PM PDT
 | |||||||||||||||
| A Note & WARNING To The New Crypto Traders/Hodlers Posted: 03 Apr 2021 04:08 PM PDT (See TLDR at the bottom) I wanted to share a note and important warning from my first-hand experience about investing in Crypto and some of the mistakes I made that ended up losing me money, that hopefully by reading this you can learn from and avoid. This is basically the post with all the things I wish someone would have told me before starting my Crypto journey. While this post is a bit on the long end, I promise you, if you're new-ish to Crypto, reading this just MIGHT save you a whole world of trouble down the road, or at least I hope When I first got here a while ago, though later than I'd hoped, I wanted to invest in some of the more well-known assets, like Bitcoin, Litecoin, Cardano, Ethereum... You know, the big name, heavy hitters. But then, I started consuming a bunch of content on Youtube and here on Reddit and began seeing all this talk of people taking their portfolio 10x , 20x , 100x , etc... and I was immediately thinking "I WANT THAT!" I kept hearing stories of people making life changing money over a few years, a few months, and sometimes a few week... and it just seemed so real and feasible at that time, since everything I looked at was basically going straight up... This where I began f$cking up, and where the main message of this post begins. Mistake #1 - Trying to time the market I was already in for a little bit of cash on Litecoin/BTC… But by the time I DCA'd, a few weeks in, my profits from the small amount I invested were nice, but nowhere near life changing... And then a few weeks in... It started going down... and down... And as much as I thought I had prepared myself for the volatility of things in crypto, it was fuc$ing terrifying seeing everything start to go red... So, thinking I would outsmart the dip, I quickly sold. I was just acting out of fear but at the time I really thought I was being clever... And nd next thing I know, it would begin to go back up... So thinking again I'll outsmart volatility, I would jump back in not to miss out on profit and then it would dip again over the next few hours even lower when I'm away doing something else... and then I'd open my app to see all red again... and again try to 'protect my losses' by selling, slowly losing more and more of my profits, and then my investment... (That cycle not only gets worse over time as you get more and more frantic and scared and you maie worse and worse decision). So in a timeframe of a few days or weeks when the market would go up a net of say 15%... Because of my dumb erratic buying and selling, I ended up only losing money, say 10%... meaning I was down 25% of where I could have been if I had just held... By trying to time the market. So the lesson is - Don't. If you believe in something, just buy and HODL. And if you are trading short term, have a set entry and exit and ideally automate this if you can (set a stop loss, etc) so that you know where you take profit and exit or otherwise where you cut your losses, in a minimal way... Mistake #2 - These damn FEES, man! Now, say I was actually Einstein or even some sort of wise prophet seeing into the future, managing to time thr market so well with every trade, which is obviously unrealistic... But say I was just lucky in timing the market, the other thing they don't really tell you about, is the insane amount of fees you end up paying for basically every single thing you do... Depositing fiat - Fees. Converting to bitcoin - Fees. Converting from Crypto back to fiat or sometimes also Stablecoin - Fees for freaking daaaayz. These fees are nuts, especially on Centralized Exchanges like Coinbase or Gemini. But it doesnt end there... The really wild fees are in the form of 'GAS FEES' which means the cost of the transaction of doing anything with your crypto. This is the worst on Ethereum, and namely apparent on Uniswap, which just so happens to be where most altcoins are available. So the lesson here was - Not only is holding helpful to avoid fees, but, especially if you start off with a small portfolio, don't bother 'day trading' or actively trading because the fees alone will bleed you dry... Mistake #3 Altcoins And Being Greedy The 3rd and final thing I'd like to talk about started when I felt like that the tokens I'd initially acquired (BTC, ETh, LTc) were not as ROI exciting as some of these altcoins I kept hearing about doing 20x overnight... I would do the math and thought "well even if I only risk like 5 percent of my portfolio, if it did a 20x, it would basically 2x my whole portfolio while only risking 5%... WHATS NOT TO LOVE, RIGHT?! Well... Not exactly. I was frustrated not knowing where these Youtubers and Redditers keep finding these 'Alt-Coin Gems' before they "Moon" aka hit that initial 10 or 20x, so I figured *"If only I find their source, I can invest before they manage to make big returns and the fomo flows in..." WHAT COULD GO WRONG RIGHT? I think you already know where this is headed... So I find a few subreddits and telegram groups where people are talking about "moonshots" before they hit scale, and I legitimately thought I struck gold. This was intensified even more when every single post in that group's history would reveal to have called all of these coins just before they pumped... Little did I realize that group was basically calling out every single coin, and so 'even a broken clock pumps 20x twice a day' Anyway, I started investing in these 'moonshots' and while I made a little bit of money on a few 'trades', I lost a whole bunch more to both dumps and to fees... and so at this point after a little while being invested in Crypto, not only am I not any richer, but my whole portfolio is down, and I'm feeling really REALLY dumb. The other and final aspect of mistake #3 is greed, and learning to be methodical. A bunch of different times, while either investing in small altcoins/shitcoins or blue chips (btc/eth/etc) there were many moments where I was temporarily up a significsnt amount on some token I had bought without really knowing much about... And as I thought I was very carefully researching (really I was just reading echo-chambery bs some other people holding the token wrote about it) I thought I knew this coin would 50x for reasons a, b, c... So when it was up 3x I would think "well if I just let it 5x I could make THAT much more... and I'd end up getting greedy and then losing on profit. *SO WHAT SHOULD YOU TAKE AWAY FROM THIS? A couple short points* ➡️ Have a damn plan! I can't overstate the value of having a plan for entering, exiting and taking profit... It helps to plan ahead, while you're thinking logically and not when emotions run high and things are going wild. ➡️ Profit is profit, and its not smart to take profit, but often the safer way to operate in a highly volatile market. Dollar cost averaging both in and out is your best friend.. Learn how it works and use it to your advantage... Also find a platform to keep track of your portfolio in real time to help you know (especially if you use several wallet/exchanges/etc and don't have one organized place to see your portfolio, profits and losses.) where you stand on every single token you own. ➡️ DO NOT.. and I repeat DO NOT underestimate the value of doing research and even doing research on HOW TO PROPERLY DO RESEARCH... Because it can save a lot of losses and heartaches. ➡️Moonshot groups are filled with pump and dump scam coins... And you're unlikely to do 100x on a coin you casually come across that magically nobody has heard about... The real gems, have presales, whitelistings and seed rounds and by the time they get to you they're not as quick of a 20x, if at all... ➡️ Balance your portfolio between holding 'safer' more stable tokens with possibly less crazy of a return and entertaining the thought of investing a small portion in riskier short term trades... Only given the right circumstances, of course... ➡️ Don't jump into a coin because of fomo - If a coin is pumping, and is already up say 20%, yes perhaps you would miss out on a little more profit if you don't jump in right then and there, but its more likely that later there would be a correction where you'd lose money if you bought in late, and instead you're better off investing in something after it has gone down, and having a clear entry point that makes sense in the macro picture of things… Especially if you believe in a token's use case and practicality long term. ➡️ Last but not least, BE PATIENT and have PERSPECTIVE... Huge profits don't typically happen overnight making a 50% return in 6 months, while it doesnt seem like much when compared to 100x over a week, it is still an amazing profit for a beginner in anything, let alone something as volatile as crypto. I really hope this helps, even just 1 person, to avoid making some of the mistakes I did and losing money. Be vigilant, stay safe, do some good research on things, and don't operate out of greed, fear or impulse, but rather think through things clearly and wisely. Thanks alot for reading and let me know if any of what I said is something you struggle with or have struggled with as well at one point. TLDR 🔹Don't try to time the market 🔹Have a plan (exit/enter/profit) 🔹Beware of fees 🔹Dont operate out of greed/fomo 🔹Research and validate your alt coins thoroughly 🔹Less but realized profit is often better than higher but potential profit 🔹Dont half-ass your research 🔹Beware of moonshot groups/subs 🔹Balance your portfolio wisely 🔹Be patient and have macro perspective Now that you read the sparknotes, if this seems relevant to you, I do suggest you read the whole post... perhaps in a few chunks... if this post is relevant to you, and you won't take the time to read it or even properly skim it, you'll probably end up making some of those mistakes yourself and the cycle will continue... I'm just trying to spare you the trouble and money loss, and as they say "the devils in the details". [link] [comments]  | |||||||||||||||
| Posted: 04 Apr 2021 12:55 AM PDT
 | |||||||||||||||
| How did people buy Bitcoin 10 years ago Posted: 03 Apr 2021 08:21 PM PDT Everyone wants to go back in time and buy BTC. So I was wondering, what was the most common way of buying or obtaining BTC. Was it as simple as it is today or was there more obstacles? I'm sure it was much harder and want to know what it was like. [link] [comments]  | |||||||||||||||
| Governments banning crypto show us that we need crypto. Posted: 03 Apr 2021 03:45 PM PDT Countries like India and Nigeria know their economy is flawed. They know crypto undermines their corrupt financial system and they ban it because they want to keep the wealthy in power and the poor in check. They fear crypto because it was made for the people. It is a way for people to exercise their pursuit of happiness in an environment of authoritianism: financial freedom. [link] [comments]  | |||||||||||||||
| Cosmos $ATOM Insight, I did some research, thought I'd share Posted: 04 Apr 2021 02:30 AM PDT Lots of folks around here been asking about quality fundamentals posts now that the memes are in their own sub. Thought i'd write something up about $ATOM. DISCLAIMER: I've got some $ATOM, no I don't work for Cosmos, though it would be cool. I've been quite immersed into the Cosmos Atom community and might have some insight that I thought I could share with you all. I've been listening to all of the Citizen Cosmos Podcasts and taking notes, going back and reading old Cosmos blogs, posts and articles, accumulating information on the Telegram groups, following along on the developers' twitter pages and have started to initiate and moderate some AMA's with some key people in the ecosystem. I recently attended a public Club House meeting with Sunny Aggarwal, Brent Xu, Ethan Buchman and a few other key speakers, and it left me inspired to do a little write up on why I personally believe the Cosmos Hub will stand out from the rest, this year. First off, I wanted to point to this speculated roadmap of goals the Cosmos Hub has for the year.
Main Source: cosmos.network/features Secondly, here's a chart of all the chains that have confirmed that they will be connecting with the Cosmos Hub via IBC this year:
Source: wenmainnet.com Now, I want to share why I think the Cosmos Gravity Dex will be powerful.
Source: twitter.com/b__harvest Next, I'd like to talk about why Shared Securities will be powerful on Cosmos.
Almost done! Want to talk about the numbers:
Source: Mintscan.io Last but not least, some Cosmos Surface-Level Highlights:
Wrapping up here, Cosmos pioneered adversarial test-net model. Cosmos pioneered Inter-Chain model. Cosmos continues pioneering, Cosmos is not about selling a story, the technology exists. The plan was to bring value to its users, and then to bring more utility to it's users. From there, we see where the value flows from utility. It's a pretty straight forward game plan, for a very long game: focus on building things that are useful, if the network has utility, value will come. Cosmos specializes in offering IBC value propositions, we found what the hub specializes in the next step is to utilize every ounce of what that specialization is about! Get more blockchains to connect via IBC, build bridges, create tools for them to communicate and trade. The Hub is a place where parties in the Interchain can "stay awhile and listen." The Whitepaper is shipped, development is just beginning. [link] [comments]  | |||||||||||||||
| Posted: 03 Apr 2021 12:44 PM PDT
 | |||||||||||||||
| Posted: 03 Apr 2021 04:58 AM PDT We recently became 2 million in here and with the latest news and adoptions and projects around, I expect a lot more to come. Some here have a lot of knowledge, some have lessser. I think it's our duty to help the ones who have none at all and are willing to learn. So, without further ado,
What is crypto?Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It's a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money that is carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database that describe specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. You store your cryptocurrency in a digital wallet. What is the Blockchain?Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant's ledger. The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT). How to trade Crypto 1. Make an account on a crypto exchange. To choose the best exchange for your needs, it is important to fully understand the types of exchanges. There are two types of exchanges: Centralized Exchange The first and most common type of exchange is the centralized exchange. Popular exchanges that fall into this category are Coinbase, Binance, Kraken, and Gemini. These exchanges are private companies that offer platforms to trade cryptocurrency. These exchanges require registration and identification, also known as the Know Your Customer or Know Your Client(KYC) rule. centralized exchanges are not in line with the philosophy of Bitcoin. They run on their own private servers which creates a vector of attack. If the servers of the company were to be compromised, the whole system could be shut down for some time. Worse, sensitive data about its users could be released. The larger, more popular centralized exchanges are by far the easiest on-ramp for new users and they even provide some level of insurance should their systems fail. While this is true, when cryptocurrency is purchased on these exchanges it is stored within their custodial wallets and not in your own wallet that you own the keys to. The insurance that is provided is only applicable if the exchange is at fault. Should your computer and your Coinbase account, for example, become compromised, your funds would be lost and you would not likely have the ability to claim insurance. This is why it is important to withdraw any large sums and practice safe storage. Decentralized Exchange Decentralized exchanges work in the same manner that Bitcoin does. A decentralized exchange has no central point of control. Instead, think of it as a server, except that each computer within the server is spread out across the world and each computer that makes up one part of that server is controlled by an individual. If one of these computers turns off, it has no effect on the network as a whole because there are plenty of other computers that will continue running the network. This is drastically different from one company controlling a server in a single location. Attacking something that is spread out and decentralized in this manner is significantly more difficult, making any such attacks unrealistic and likely unsuccessful. Due to this decentralization, these types of exchanges cannot be subject to the rules of any regulatory body, as there is no specific person or group running the system. The individuals who participate come and go, so there is no one individual or group that a government or regulatory body can realistically pursue. This means that those trading on the platform do not have to declare their identification and are free to use the platform in any manner they choose, whether legal or not. Best crypto exchanges as of 2021 (according to investopedia)
2. Pick a crypto to invest in How? Easy, one might say - just Do Your Own Research(DYOR), because no one here is a financial advisor! Things to look at when researching:
3. Choose a strategy A. Buy and hold(HODL) "Buy and hold" is a passive investment strategy where traders buy an asset intending to hold it for a long time, regardless of market fluctuations. This strategy is typically used in long-term investment portfolios, where the idea is simply to get in the market without any regard for timing. The idea behind this strategy is that on a long enough time frame, the timing or entry price won't matter much. B. Dollar Cost Averaging(DCA) Dollar cost averaging is a popular and well-tested trading strategy that works best when done over longer periods of time. The concept is simple. Instead of investing all your money in a particular cryptocurrency at once you divide it into small amounts, choose a particular time and day of the week and only buy at those times. DivineEu - What is DollarCostAveraging? C. Day trading Day trading might be the most well-known active trading strategy. It's a common misconception to think that all active traders are by definition day traders, but that isn't true. Day trading involves entering and exiting positions on the same day. As such, day traders aim to capitalize on intraday price movements, i.e., price moves that happen within one trading day. D. Swing trading Swing trading is a type of longer-term trading strategy that involves holding positions for longer than a day but typically not longer than a few weeks or a month. In some ways, swing trading sits in the middle between day trading and trend trading. Swing traders generally try to take advantage of waves of volatility that take several days or weeks to play out. Swing traders may use a combination of technical and fundamental factors to formulate their trade ideas. Naturally, fundamental changes may take a longer time to play out, and this is where fundamental analysis comes into play. Even so, chart patterns and technical indicators can also play a major part in a swing trading strategy. E. Trend trading Sometimes also referred to as position trading, trend trading is a strategy that involves holding positions for a longer period of time, typically at least a few months. As the name would suggest, trend traders try to take advantage of directional trends. Trend traders may enter a long position in an uptrend and a short position in a downtrend. Trend traders will typically use fundamental analysis, but this may not always be the case. Even so, fundamental analysis considers events that may take a long time to play out – and these are the moves that trend traders try to take advantage of. F. Scalping Scalping is one of the quickest trading strategies out there. Scalpers don't try to take advantage of big moves or drawn-out trends. It's a strategy that focuses on exploiting small moves over and over again. For example, profiting off of bid-ask spreads, gaps in liquidity, or other inefficiencies in the market. Scalpers don't aim to hold their positions for a long time. It's quite common to see scalp traders opening and closing positions in a matter of seconds. This is why scalping is often related to High-Frequency Trading (HFT). G. YOLO This one is self-explanatory. 4. Store your cryptocurrency The main purpose of the creation of Bitcoin as a decentralized currency was to give the masses the power to control and manage their own money. First off, digital wallets are quite different as compared to your physical wallet. Instead of storing money, digital wallets store private and public keys. Private keys are like your PIN number to access your bank account, while public keys are similar to your bank account number. When you send Bitcoin, you're sending VALUE in the form of a transaction, transferring the ownership of your coin to the recipient. Ownership of your private keys gives you total control over the funds associated with your corresponding public keys. That's why it is vital to make sure you keep your private keys secretly hidden so that ONLY YOU know your private keys. If any other person gets hold of your private keys, they will have control over your coins. It is also equally important to have a back-up of your private keys, so as to protect yourself from accidental loss. You'd also lose your funds if you cannot recover your lost private keys. Weaver96's wallet guide | good-as-hellx's wallet guide Crypto AppsGiven the fact that we are facing an influx of fake applications meant to stole people's private keys/personal info and what not, I felt the need to add this too: adding after mods review ScamsUrMuMGaEe - All the hacks, scams and stuff you should be aware off! ⚠️ Active scams:
EarnAidrops Who doesn't like airdrops? An airdrop, in the cryptocurrency business, is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency. Faucets A crypto faucet is an app or a website that distributes small amounts of cryptocurrencies as a reward for completing easy tasks. They're given the name "faucets'' because the rewards are small, just like small drops of water dripping from a leaky faucet.
Staking Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards. icysx - Ultimate Staking Guide 2021 On-Chain Governance On-chain governance is a system for managing and implementing changes to cryptocurrency blockchains. In this type of governance, rules for instituting changes are encoded into the blockchain protocol. Developers propose changes through code updates and each node votes on whether to accept or reject the proposed change. Stakeholders in the process are provided economic incentives to participate. For example, each node can earn a cut of overall transaction fees for voting, while developers are rewarded through alternate funding mechanisms. Great topics
Useful links My main goal was to resume everything in one post while providing a neutral point of view, to make it easier for new people. Thanks to everyone who contributed to this post and this community. For any suggestions and questions related to this post feel free to DM me anytime. I intend to update this post in the future based on feedback and further research. [link] [comments]  | |||||||||||||||
| Posted: 03 Apr 2021 11:58 PM PDT
 | |||||||||||||||
| DeFi - Automated Market Makers (AMMs), Liquidity Pools, Impermanent Loss Posted: 03 Apr 2021 11:15 PM PDT Yesterday during r/CC Trivia Quiz I realized how not many people know about AMMs which is a very important concept in DeFi, hopefully this clears stuff up! What is an automated market maker (AMM)?An automated market maker (AMM) is a type of decentralized exchange (DEX) protocol that relies on a mathematical formula to price assets. Instead of using an order book like a traditional exchange, assets are priced according to a pricing algorithm. This formula can vary with each protocol. For example, Uniswap v2 uses x * y = k, where x is the amount of one token in the liquidity pool, and y is the amount of the other. In this formula, k is a fixed constant, meaning the pool's total liquidity always has to remain the same. Other AMMs will use other formulas for the specific use cases they target. Traditional Market Makers help you get a good price and tight bid-ask spread on an order book exchange like Binance. Automated market makers decentralize this process and let essentially anyone create a market on a blockchain. How does an automated market maker (AMM) work?An AMM works similarly to an order book exchange in that there are trading pairs – for example, ETH/DAI. However, you don't need to have a counterparty (another trader) on the other side to make a trade. Instead, you interact with a smart contract that "makes" the market for you. You could think of AMMs as peer-to-contract (P2C). There's no need for counterparties in the traditional sense, as trades happen between users and contracts. Since there's no order book, there are also no order types on an AMM. What price you get for an asset you want to buy or sell is determined by a formula instead. So there's no need for counterparties, but someone still has to create the market, right? Correct. The liquidity in the smart contract still has to be provided by users called liquidity providers (LPs). What is a liquidity pool?Liquidity providers (LPs) add funds to liquidity pools. You could think of a liquidity pool as a big pile of funds that traders can trade against. In return for providing liquidity to the protocol, LPs earn fees from the trades that happen in their pool. In the case of Uniswap, LPs deposit an equivalent value of two tokens – for example, 50% ETH and 50% DAI to the ETH/DAI pool. Can anyone become a market maker? Yes! It's quite easy to add funds to a liquidity pool. The rewards are determined by the protocol. For example, Uniswap v2 charges traders 0.3% that goes directly to LPs. Why is attracting liquidity important? Due to the way AMMs work, the more liquidity there is in the pool, the less slippage large orders may incur. That, in turn, may attract more volume to the platform, and so on. Remember, pricing is determined by an algorithm. In a simplified way, it's determined by how much the ratio between the tokens in the liquidity pool changes after a trade. If the ratio changes by a wide margin, there's going to be a large amount of slippage. To take this a bit further, let's say you wanted to buy all the ETH in the ETH/DAI pool on Uniswap. Well, you couldn't! You'd have to pay an exponentially higher and higher premium for each additional ether, but still never could buy all of it from the pool. Why? It's because of the formula x * y = k. If either x or y is zero, meaning there is zero ETH or DAI in the pool, the equation doesn't make sense anymore. But this isn't the complete story about AMMs and liquidity pools. You'll need to keep in mind something else when providing liquidity to AMMs – impermanent loss. What is Impermanent Loss?Impermanent loss happens when the price ratio of deposited tokens changes after you deposited them in the pool. The larger the change is, the bigger the impermanent loss. This is why AMMs work best with token pairs that have a similar value, such as stablecoins or wrapped tokens. If the price ratio between the pair remains in a relatively small range, impermanent loss is also negligible. On the other hand, if the ratio changes a lot, liquidity providers may be better off simply holding the tokens instead of adding funds to a pool. Even so, Uniswap pools like ETH/DAI that are quite exposed to impermanent loss have been profitable thanks to the trading fees they accrue. "Impermanence" assumes that if the assets revert to the prices where they were originally deposited, the losses are mitigated. However, if you withdraw your funds at a different price ratio than when you deposited them, the losses are very much permanent. In some cases, the trading fees might mitigate the losses, but it's still important to consider the risks. [link] [comments]  | |||||||||||||||
| Half a billion people just had their Facebook data leaked Posted: 03 Apr 2021 01:05 PM PDT
 |
| 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