Cryptocurrency Daily Discussion - May 9, 2021 (GMT+0) |
- Daily Discussion - May 9, 2021 (GMT+0)
- DOGE is bringing down the quality of the sub like GME did to investing subs
- Robinhood at it again!
- You hear about the kid who put in $500 into a memecoin and made 100k, but you don't hear about the hundreds who put $1000 and are left with $0.1
- It's the year 2030 and crypto has definitely changed our lives; just in a way no one expected.
- Cryptocurrencies are now worth more than all U.S. dollars in circulation.
- If you’re buying meme coins in hope of striking it rich, you’re not investing, you’re gambling.
- We're at a point in this subreddit where there's almost no discussion on the tech and only talk of the market
- Elon Musk's Dogecoin Explanation on SNL (DOGE reached a high of $0.70 and low of $0.47 while the show was live)
- The egoist in me wants these meme-coins to lose 80% of their value tonight...
- Ethereum is on Fire: Hitting ATH after ATH
- Buy the Rumor, Sell the News
- So, you don't like billionaires who manipulate the market just by tweeting? Then do not rely upon billionaires who manipulate the market just by tweeting
- FOMO, Mania; 2017, 2021. Why this time isn't all that different.
- A project that is for the Investors and By the Investors.
- Y'all have gone mad
- I made a tool to detect upvote manipulation
- Robinhood users use this as a sign.
- Reminder that it is okay to sell when you're happy with the price
- I have yet another crypto trading algorithm for you guys. This one is able to analyse how volatile every coin on Binance is and place a trade when during a strong bullish movement
- Be careful that trading crypto don't become addictive like gambling.
- This is James. He wanted to steal my crypto. So I tracked his IP and had some fun.
- Bitcoin and housing market collide as home sellers increasingly accept crypto
- A little warning to anyone using Metamask addon and faucets
- Beware of Elon Musk Social Media Scams
| Daily Discussion - May 9, 2021 (GMT+0) Posted: 08 May 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:
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| DOGE is bringing down the quality of the sub like GME did to investing subs Posted: 08 May 2021 06:58 PM PDT DOGE mania is bringing lots of new clueless people here and the sub feels cluttered with a lot of newbie threads about basics that have been covered in depth over and over. How should we deal with this? A stickied FAQ or at least a pinned post urging newbies to use the search function seems like it would be helpful. I wish nothing but the best for everyone joining us, but not fond of scrolling through 10 newbie threads to find a technical discussion about coins with serious use cases. [link] [comments]  | ||
| Posted: 08 May 2021 09:12 PM PDT Unexpected server error on Robinhood. Unable to sell Doge the page errors out every time and the sell button is gone. But guess what, you can still buy it! Just in case you wanted to buy this dip! 'How many times do we have to teach you this lesson old man!' [link] [comments]  | ||
| Posted: 08 May 2021 08:28 AM PDT You hear about the kid who put in $500 into a memecoin and made 100k, but you don't hear about the hundreds who put $1000 and are left with $0.1 You also don't hear about the guys who put $10,000 but cant cash out because these memecoins have no liquidity. Don't beat yourself up for missing out. Survivorship bias is a dangerous thing. [link] [comments]  | ||
| It's the year 2030 and crypto has definitely changed our lives; just in a way no one expected. Posted: 08 May 2021 05:08 PM PDT The name Bitcoin isn't used anymore because no one can afford 81 trillion dollars for a coin. Satoshis are becoming expensive too, there are talks to split every Satoshi in 8 Nakamotos for further convenience for consumers. This has been discussed by the core developers for 3 years, but no consensus has been reached yet. Ethereum has taken over the world with their last rollout Skyn3t. It turns out all those gas fees were used to build robot assembly-lines in the Arctic. Vitalik has revealed to be a cyborg sent from the future to enslave humanity. Humans who purchased ETH are filthy rich, though. The Resistance movement has rallied behind XMR. It's so damn private, they can't even find other cells to coordinate. LINK is using its self-consciousness to update in real time Sergei Nazarov's geolocation, so you can go and tell him how he has betrayed you yet again. Civil war has ravaged the USA and split the country in two. The new formed country has adopted DOGE as their official currency. Elon Musk has proclaimed himself as Techno DogeKing of the Solar System. NANO has become so fast it has reached faster than light transaction speeds and quantum-leaped itself out of existence. The devs are working on a solution to slow down transactions without success. Cardano has published 741 papers, 700 of them about how good is to publish a lot of papers. Smart Contracts in mainnet expected next month. Charles is doing AMAs on Youtube every 15 minutes. Binance Smart Chain has been fomo-bought by Warren Buffet, who is still denying blockchain but bought the first project that an intern mentioned in the coffee room. God knows what they're plotting in this world governed by machines but everyone agrees they're up to no good. Tether has opened their vault at last. Every 1 USDT is pegged to a cap of Nuka-Cola. This has made USDT the first stablecoin to experience a +1000% valuation. [link] [comments]  | ||
| Cryptocurrencies are now worth more than all U.S. dollars in circulation. Posted: 08 May 2021 01:29 PM PDT
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| If you’re buying meme coins in hope of striking it rich, you’re not investing, you’re gambling. Posted: 08 May 2021 09:10 PM PDT It's easy to get caught up in the "buying crypto is investing in your future" mindset that's often repeated here and convince yourself that you're making wise financial decisions with any crypto purchase you make. I come from a family of gambling addicts and I'm very aware of the tricks they play, often on themselves, to convince themselves or others that they're not actually gambling. "This is my entertainment" is an often repeated excuse they tell themselves as they're transferring money out of their bank a 2nd time. "I've put in so much time that statistically I'm bound to win at any moment" is another lie they tell themselves. These are all signs of gambling addiction and I see it everywhere here. Just because you're buying crypto does not mean it's not gambling. Please try to think objectively about what you're doing and don't let yourself lie to yourself. [link] [comments]  | ||
| Posted: 08 May 2021 02:34 PM PDT For the past year, every day I visit this subreddit, I've noticed that the most discussed/upvoted posts are either talking about the market, its ups and downs, and, (this I see a lot)- pandering to the 'newbies'. Of the top 100 posts this month, there are hardly 5 which move away from the money/finance aspect of crypto, mentioning things like - learn from these list of courses, what staking is etc. Most of the other content is around the former. We keep telling people to DYOR, which is legit advice, but a lot of folk found what to DYOR on from here - what's consensus, what's the 2 generals problem, what is a distributed ledger, DAGs, Staking, etc. It's a bit saddening to see that kind of content go down. Even in 2017 and before, during the bull run, before the crash, there was a lot of content from people who 'were in it for the tech' and discussion around tech topics. There obviously weren't enough of them which is why we used to suggest going to r/cryptotechnology for the serious stuff, but still they were more frequent then. This has been largely replaced by folk telling others about how to manage their money. Tbh, I'm not some highbrow chap who thinks 'this sub has gone to the doge'. I'm not criticising the content - the money has truly changed people's lives for the better, especially in countries without stable currencies. I'm mostly just fascinated by how the subreddit has shifted over time. It's a look into how the growing subscribers of the subreddit, the change in its structure and how the general moderation process has brought a shift in the content here. Cheers to my fellow Redditors here. Whatever you have come here for, glad to have you around. [link] [comments]  | ||
| Posted: 08 May 2021 10:41 PM PDT
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| The egoist in me wants these meme-coins to lose 80% of their value tonight... Posted: 08 May 2021 06:27 PM PDT Just so I could tell some people "I told you so" and they learn their lesson early on. However, this is not a good way of thinking - when I go a bit deeper I really want all my friends to make some good cash even though they made some risky investments. I missed the train, I shouldn't be sour about it. I'd love to go back a month and go all-in on Doge and cash out right now, but I can't - and I shouldn't feel bad about that. I'd be no different than all the non-coiners waiting for "the bubble to pop" so that they can tell us the same "I told you so". So anyways, whatever you're invested in right now, whether it's a meme coin or the must cutting-edge technology underappreciated crypto project, I hope you make it and have a prosperous future ahead. [link] [comments]  | ||
| Ethereum is on Fire: Hitting ATH after ATH Posted: 08 May 2021 09:00 PM PDT
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| Posted: 08 May 2021 09:40 PM PDT This mantra is often used in stock news and events and that holds true for crypto. Everyone bought doge thinking about Elon was going to talk about it on SNL and create another pump. Well he did talk about it, but doge dumped instead. Why? Because the Elon being on SNL is priced in. It really doesn't matter what positives he says about doge because it was already expected. Now I might be talking prematurely and doge could continue going back up since the show isn't over yet but it doesn't seem like there's much momentum anymore. So anyways, the lessons is, if you think something is a sure thing, everyone else might be thinking the same thing. You need to stay one step ahead of the crowd. Buy the rumor, sell the news. [link] [comments]  | ||
| Posted: 09 May 2021 12:32 AM PDT Many doge investors have been lynching Barry Silbert for his tweet. And the same people worship Elon when he tweets and manipulates the market. Some can say, it is because one is helping doge, and the other is hurting it. I genuinely think this is also wrong. Elon doesn't help doge, doge helps Elon. It is not simply doge that gains popularity, it is mostly Elon who gains popularity. And don't forget! In this market if you win, others lose and vice versa, so the majority of the community (if there is one) will lose money. So if you vote for a manipulator, it is likely that you will be the one who is being manipulated. Btw I'm neither a Doge investor nor a hater. I can see Doge's popularity can help the crypto space, but I can also see the danger of it. Thıs post is not about doge, it is about populists, manipulators. [link] [comments]  | ||
| FOMO, Mania; 2017, 2021. Why this time isn't all that different. Posted: 08 May 2021 04:53 AM PDT Let me get this out of the way, this is an opinion and analysis piece. It might or might not validate the 'to the moon' sentiment. So if you're looking for confirmation bias, just downvote this and move on to the n-th post about 'crypto changed my mum's dogs left testicle' Here's a few posts from the past few days that haven't made it to hot. Taking a loan to buy more crypto. I'm taking a 100k home equity loan and putting it in eth Now, here's a few posts from Nov-Dec 2017 i got a 30 thousand bank loan, which coins should i invest in Borrowed 14k USD and bought Btc Thinking of getting a $100k personal loan to buy cryptos, what cryptos do you suggest? Could find many more samples if I went through the comments and dailies. Now, we all know it is an obviously bad idea to take out a loan to invest in crypto. It totally goes against 'Never Invest More Than You Can Afford To Lose' which can be seen on the frontpage everyday. The fact that people are still doing it just goes to show how properly in the greed phase we are right now. Everyone and their granddad wants to throw money into crypto, even if it's money they don't have.
But is that the only parallel? Hell no! Here's some fun pumps from way back when! IOP: went from $0.7 to $10 in three months. Hit ATH in Jan 2017, and another local peak in Jan 2018. Currently at $0.1 RISE: rose from $0.01 to $1.2 in two months. Hit ATH in Jan 2018 Currently at $0.1 There was literally a coin called FUCKCOIN. But that's from 2017, haha we've certainly matured by now, haven't we?
A lot of examples of stupidity. But we're definitely wiser this time around yeah? Just a little PSA about buying the dip for new crypto investors Sounds like good advice, yep it was great advice in peak 2017 too! And ofcourse, we have PSAs for newcomers this time around too. Everyday! Everyone is a veteran advising the newcomers, which I for one think is very wholesome. :D
So that's a lot of text, but what am I actually trying to say with all this? For one, this time is not different. Because people are not different, and will behave the same way, everytime. Every single coin is pumping. You could throw money at a logo you really like and within a week 2x your initial investment. Which is scary. Doesn't matter if it is a decent and secure project, whether it has a future roadmap, whether it even is decentralised. In the next few weeks, I expect to see a lot of weird ass coins in the top 100, and some maybe even in the top 20. The market is very very greedy right now. The smallest news causes huge pumps. People haven't figured out yet that not everyone can win, and they probably won't till they're left bagholding. And that will happen, because these prices and marketcaps are wildly irrational, just like the people currently invested in them. Which leads to my second point, I think winter is coming. Not right now, obviously, and yeah yeah no one can time the market. But, I think it'll be sooner than later. I'm considering Sept-Nov 2020 as the start of this bullrun, and I don't think any bull can run for more than a year without collapsing. So, maybe consider this advice, or maybe consider this a FUD-er spreading FUD, or maybe consider it a moon farm by being contradictory (METAMETAMETA). Just some thoughts I had. I'm going to slowly and steadily pull some decent profits out, maybe buy some ramen for the winter, and hoard the rest for when things go south. Ofcourse, now that I've typed it all out it's much more likely that every single coin will actually rocket and I'll be left in the lurch! Cheers! [link] [comments]  | ||
| A project that is for the Investors and By the Investors. Posted: 09 May 2021 01:33 AM PDT Ok so nowadays the only way many people are making crazy money is A. investing in quick pump meme coins/ fad coins with no use case B. Know people to get early allocations or private groups that know of under radar coins C. Make your own coin or shill crazily to hopefully dump on others D. Hold projects that have some sort of use case and merit long term. Most of these options leave a lot of investors rekt with not much hope to recover. I jumped in a project a few months back because they were trying a different approach with things. Before I go further, I just want to say to always do your own research and never blindly invest into things without doing your due diligence. The project I have been invested in is called Ascension Protocol. It trys to help investors to help elevate their portfolio by not actually having to invest more than hold the ASCEND token. It does this though liquidity pulls when the liquidity rises by x amount and then gives the holders an opportunity to vote on what they would like to do with that liquidity. Since the DAO opened in April, they have gave back to holders around 20k in pancake tokens and 1-2 percent of ASCEND was bought and given back to the holders. As the liquidity rises, the more they will give back to holders including funding the treasury address. The treasury address is going to be really awesome because it will be used to fund trading bots, snipe-listing bots, and much more that won't need to rely on liquidity rises to disperse profits. They just opened their launchpad and private DAO to help people get allocation to projects as the Coin CEO is well connected. The launchpad will guarantee a free airdrop to all holders of ASCEND including allocations to projects that list through their launchpad. Coins that list through there will get listed as an investment strategy to help with buy pressure, will be set up with advisement and our contacts, free audits and much more. This launchpad will be across chains that share the same address so ETH, BSC, Avalanche, Polygon and more. The trading bots and sentiment bots they develop will be good for long term and bear market uses so this project can survive long-term. I talked to the owner and they stated that overtime they would not be opposed to adding physical goods or coins backed by physical goods which will be made available through Aubit or other platforms. The crazy thing is marketcap is only 500k Liquidity is 270k The developers, CEO and Team are really working their behinds off and marketing just began so I really expect more to come from this and more risk-free investments from liquidity pulls to come about. The first launchpad project and IDO allocations are coming in the next few weeks. Just check them out and give them some support for doing something different! [link] [comments]  | ||
| Posted: 08 May 2021 06:30 PM PDT If you read this, there is a >50% chance that you joined in 2021, and a ~75% chance that you were not around during the last time everything crashed. Yet I see many posts claiming that everything will be different now, that you invest your life savings. Most of you won't know, since you weren't there. It was the same back then. You also had projects continuously pumping where everyone knew that they were shit (BITCOONEEEEEEECT!). Until it suddenly didn't pump. The crash does not happen when everyone expects it to, since everyone would sell before this. A crash will always come unexpected for the majority of holders. Know when you have won and when to take profits. "These violent delights have violent ends" [link] [comments]  | ||
| I made a tool to detect upvote manipulation Posted: 08 May 2021 08:00 PM PDT
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| Robinhood users use this as a sign. Posted: 08 May 2021 09:45 PM PDT Get off that shitty app as soon as possible. Hopefully this DOGE implosion proves it's horrible to use and you don't actually own anything you buy off of their shitty app. It will crash every time something massive happens. Use a hardware wallet in the future so you actually control your crypto. Trezor and Ledger are amazing hardware wallets and there are many other hot software wallets online to use too. [link] [comments]  | ||
| Reminder that it is okay to sell when you're happy with the price Posted: 08 May 2021 03:44 PM PDT It's easy to get wrapped up in the group mentality and think that you are holding for a greater good. However, the truth is that we are all investing for our own financial and living situations, so you have to do what's right for you. Usually the people yelling that you need to hodl are the ones with big bags that they'd like to see go up. They don't exactly care about your situation, they care about their bag. So if you're comfortable with your gains and you're ready to get out, sell it and get out. Don't let all the screaming keep you down, especially if it starts dumping and everyone is still telling you to hodl. I'm mainly posting this due to the ETH and especially DOGE rise as of late. I'm personally hodling my coins for a long time, but I hate seeing people try to persuade others for their own benefit. [link] [comments]  | ||
| Posted: 08 May 2021 10:10 AM PDT Had a lot of fun with with one, and I'm happy to share the code with you guys. So the algorithm is essentially listening to price changes in the last 5 minutes for all the coins on Binance. Once it detects that some coins have moved by more than 3% in the last 5 minutes, it takes this as a strong bullish signal and places a trade. The algo is also able to store each bought coin in a local file and to track the performance of each trade placed so that it can perform stop loss and take profit actions and sell the coins that reach those thresholds. Here's a more in-depth look at the bot parameters:
Anyway, here's the source code if you're comfortable with Python: https://github.com/CyberPunkMetalHead/Binance-volatility-trading-bot In case you need more guidance but would like to try the bot out, I wrote step-by-step guide as well Any feedback or ideas how to improve it are welcome! :) [link] [comments]  | ||
| Be careful that trading crypto don't become addictive like gambling. Posted: 09 May 2021 12:03 AM PDT Over the week-end, I met some familly members to whom I used to share few months ago my interest in crypto and why it can be a wise investment. Yesterday, I realized at the dinner table that they quickly started to invest pretty big sums and can't stop watching their phone every 5 mins. They gladly assume the fact that they are addicted as it is a bull run. Remember that trading crypto will release dopamine. This feel-good chemical activates the same pleasurable reward pathways in our brains as eating our favourite food, or having sex. But this includes also problem gambling, which I could read is estimated to affect as many as 1% of the population. I found a 2016 report from the Gambling organization from UK saying that problem gamblers were:
I am not saying you should not trade crypto. But if you are matching some of these criterias, be aware that you are more likely to be having these gambling effects. Personally, I prefer to invest long term. It changes my perspective on the dips.
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| This is James. He wanted to steal my crypto. So I tracked his IP and had some fun. Posted: 08 May 2021 10:04 AM PDT tl;dr: I like messing with scammers who contact me after seeing me on this sub. I did it, for example, with Paul and martins by name (just look at my top posts, I can't link them for some reason). I convinced this guy that he was being scammed by someone else and tracked his IP and told him where he was and where he worked. It was fun (and maybe my best one yet), the conversation is here in four parts (for readability): one, two, three and four Whenever an new account with barely any content sends me a message and offers me an investment opportunity, I know what to do: answer, confirm that yes, I want to take it urgently and yes, I believe absolutely everything the person tells me. Since I started posting here more regularly I, like I guess most of you, am getting many such messages. So when James here contacted me today, I thought I knew the script already: copy trading. His profile was cute, only one post, titled "I am happy with the kind of man I am😌🙏" with a few pictures of some guy, posted to his own profile. I decided to use these pictures. It started out as always, he just wants to share some ideas, I am very enthusiastic about everything and try to get him to the scam ASAP. And I guessed right, copy trading. I even tried to guess the site - the one the last scammer wanted to get me to - but it seems my guess was wrong in that case, he has a different scam site. Oops! But he didn't care that much, his site was 100% profit guaranteed, so that sounded good. I asked him for the scam link, he didn't like that, but I told him that was a translation error from Belgian (I'm not from Belgium and Belgian is not a language, lol) which was good enough for him. He told me that he is scared of scammers, but then we went on and he sent me the scam link. So far so good, he wanted a screenshot of my registration (The WhatsApp-thing in this part goes back to the first time I talked to a scammer, Paul, who really liked Whatsapp). Then the fun began, and I think this is my best work yet: I uploaded one of the pictures from his profile and sent him a traceable link. I titled it "my crush" on imgur and was disappointed at first, because he didn't notice that was "him" (I guess he just stole the pictures somewhere, that's why I'm not linking them). He didn't understand what he was seeing and asked for the right screenshot, I just registered on GitHub (first bookmark I had open) and changed the html code a bit. that one seemed to be fine with him. Then he noticed, that the first picture was "him". As I had his IP and it was registered for a company (I censored it in red), him getting nervous was really funny, but read the rest for yourself (by the way, the number i sent him is absolutely not his, but another scammer from a few days ago, so he is fake-panicking in that case). Have fun! Edit: he's still mad at me :( Edit2: turns out, the scammer just stole and used pictures of Madalin Ionescu, a Romanian tv show host (thanks u/belemihai for pointing this out!), so that's why he didn't immediately notice the picture I sent was "him" [link] [comments]  | ||
| Bitcoin and housing market collide as home sellers increasingly accept crypto Posted: 08 May 2021 09:34 PM PDT
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| A little warning to anyone using Metamask addon and faucets Posted: 09 May 2021 01:38 AM PDT I just want to warn any of you Metamask users, in case you have installed the addon to your browser. If you like using faucet websites to earn some money on the side I would be very cautious to what you do on those sites. The sponsored website that they show you, like the PTC (paid to click) ads where you get compensations, are more often than not a front to try to get into your Metamask wallet - Be very careful about these websites. They look like every other one and you would not be able to tell the difference from just viewing them, but their main intent is to steal your info and crypto. Sometimes it will detect that website is trying to get metamask info, but other times they will succeed unnoticed. If, for instance, you open a ptc and your browser suddenly closes and then wants you to relogin into you metamask account with your seed key, I would fear of being compromised. If you want to still continue using both, I would advise you to either deactivate your metamask wallet addon and only activate it if you really need it, OR maybe even use two different browsers just to be safe. Have one dedicated Metamask browser and do the rest in the other one for example. You don't want to risk your investments because of clicking on a PTC to get a few cents. [link] [comments]  | ||
| Beware of Elon Musk Social Media Scams Posted: 08 May 2021 08:07 PM PDT With the much hyped Elon Musk SNL appearance happening tonight there has been a massive uptick in the amount of Elon Musk related scams making their rounds on social media. The scam is basic, it is a post or "fake" livestream with a banner at the bottom saying they are doing a giveaway. They want you to send an amount of crypto and you will receive double the amount back, except they don't send anything and you are out your money. Here is an example from when Elon Musks twitter account was actually hacked into These scammers go to great lengths to make these scams look legitimate by making fake comments and transactions to make other people believe people are getting rich off this and put up a timer to give the user a sense of urgency. To most of us here, this seems absolutely ridiculous how someone could fall for this. But with all the new people coming into the space via doge and knowing musks tendency to do weird stuff, I can see many people falling for this and losing their coins. Be careful out there, if it seems to good to be true, it usually is a scam. Here is some links of recent victims who lost a lot to these types of scams: [link] [comments]  |
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