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    Cryptocurrency Daily Discussion - June 18, 2021 (GMT+0)

    June 18, 2021

    Cryptocurrency Daily Discussion - June 18, 2021 (GMT+0)

    Daily Discussion - June 18, 2021 (GMT+0)

    Posted: 17 Jun 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 The prior exemption for karma and age requirements is no longer in effect.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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    TITAN was at $60 two days ago, now it's at $0.00000003. Here's why you shouldn't YOLO in (and yes it's market cap)

    Posted: 18 Jun 2021 01:03 AM PDT

    TITAN's crash was really absurd, I personally haven't seen anything this extreme yet. It crashed almost 100% in a few hours and now sits at 0.00000005% of its ATH. That's something. I've seen many people in the past two days ask stuff like: "sure, it won't recover from that. But what if I just invest like $10, if it goes back to even just one cent, a tiny fraction of the ATH, that would be a ton of money!"

    And yes, it absolutely would be! And that alone should be enough to tell you that it can't be this easy. The thing is: because of how that whole network works, a lot of TITAN was printed when it crashed.

    10 days ago, the circulating supply was 116 million. Now it's 34 trillion, or 34,000 billion, or 34,000,000 million. Yeah, that's a lot. So let's consider the market cap, which is:

    Market Cap = Circulating Supply X Coin Price

    A coin price of 1 cent would mean a market cap of 344 billion, putting it on the #2 spot, higher than ETH. At 2 cents it would get close to BTC, at 5 cents its market cap would be higher than all other crypto combined.

    On iron.finance, the creators of the coin state "WARNING: Please don't buy TITAN or IRON.". Listen to them. This coin doesn't have a chance to go up again and as always, coin price is a bad indicator, even if it used to be higher.

    submitted by /u/_martinshkreli_
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    How I accidentally created a <$100k market cap coin

    Posted: 17 Jun 2021 12:24 PM PDT

    Sorry if this is not allowed, I will attempt to keep the name out of this as much as possible to attempt to show this is not a shill but my crazy experience over the last few days and how it changed my viewpoint on crypto. If you are interested in making your token, or just how the under belly of crypto works, then this is for you.

    This is a legitimate, crazy story that has changed my mind on crypto and taught me a lot about the trappings of small cryptos on the DEFI scene, specifically Harmony One's network. This is a long story.

    Where this adventure started

    Strange beginnings for a crypto, but I wanted to know how markets worked, how easy it is to manipulate a price, see how much buys and sells effect crypto. Now I am not rich by any means and didn't want to destroy someone else's project, whether it deserves it or not. So I went looking for a cheap way to build a token and deploy it onto a smart network. I first went to Harmony as it is a project I am really excited for (although this experience may not sound like a glowing reference to Harmony at points, I genuinely still believe Harmony will be a top coin in the future).

    Luckily for me, a token generator exists on the Harmony network (it is called tokenjenny, in no way affiliated). I genuinely do not remember how I found it, but it is likely due to the fact it has a tournament with Viper (what I believe will be the number 1 DEX on Harmony, but I have a small bag so I may be biased). I created a simple token based on what I would want out of a small token, a small hard cap on tokens to, no burns, no sale tax, no airdrops. Just a small token which value held itself against itself without using fancy gimmicks. This was also the best way to change prices.

    After a few clicks and a wallet connect, I had all 1 million of my token in my wallet. Ridiculously easy and fee less I believe, with the only cost being the cost of sending the coins to my wallet on Harmony. And there you have it, I own a crypto.

    The self market manipulation

    In the beginning I did not have a clue what I was doing, if I am honest. I thought I did, but once you hold it in your hands and you are responsible, trust me it is different. I immediately dropped 8 ONE (about 50c at the time) against 750k of my tokens into liquidity on Viperswap and I had a live token. From there I proceeded to trade the coin in small amounts until the market cap had gone up to around $20 (this is a guess, it could have been less). I sold some more, then bought back and carried on watching how a big buy vs a small buy sent the price to different levels. And how the DEX actively worked against you buying all the liquidity at once with price impacts. This made it clear to me that this actually works. If people trade it, it will go up. This is obvious, but having full control of the market cap of your coin is again a different feeling. It felt strangely powerful and I wanted to know more.

    The dumb luck

    So I knew the only way to know more was to join a pump and dump group. I arrived at a newly started one on Telegram aimed specifically at Harmony projects. At this point the coin was still a self experiment and I introduced myself to the group awkwardly (I am a very awkward person) and started asking questions. The group were nice and quickly I learnt that I needed to burn my tokens so people trusted me. They even taught me how to do this (twist regarding this later). I decided to go for it. They were complaining about a coin that had just rugged and the owner had too much tokens, so I stacked another 200k of my token into liquidity and sent it to a burner address.

    The social experiment

    So, I decided to explain myself to the chat. My coin was an experiment to me and I decided to be honest about that. That and the fact someone could easily buy the whole supply, I said the truth, I am testing your greed as if you buy too much then you will destroy the token. I thought this would lead to someone going FU and just buying it and me being completely out of all my money, which I was ok with, my experiment would then be complete.

    What actually happened

    People bought little bits, the price rose. It started under 0.00001c which was the lowest value possible on the analytics. After a few hours it had reached 0.00001c. No more > sign. Nice. I thought that would be the end. People were saying how much they liked how I put things, how I encourage selling. I woke up the next morning to it being 0.001c. I realised at this point I was in control of peoples money in a way and therefore I had to be responsible with that. I would hate to be why people lost money down to my experiment.

    Putting the work in

    I opened up a telegram and added people. The prices at certain points gets hazy at this time because it was all so surreal and a major whirlwind. They asked the obvious question, what now? What now indeed. I did not want a pump and dump, I couldn't do that to people. Don't get me wrong at some point I will sell some, but for now I just wanted to make sure I didn't lose people money. I set a price target of 1 token = $1, if not 1 token = 1 One thinking it would be unreachable. The price hit 0.01c. I promised to make a website. I looked into ways to add value. With a coin that does nothing the only value it has is the value that people put to it, so I went looking for ways to add value. It became pretty clear to me that the best use case for the token was to use it in liquidity pools. But how do you get one of those when your coin is still under $1k? I joined the token jenny tournament. A tournament where the 1st placed prize would get you an incentivised pool and a nice cash reward. The price hit 1c. I made a website and set up a tournament to create the logo, paying in my token. The website was to be revealed after the tournament. The price hit 6c. My token had a market cap of $60k in the space of a week from creation. 8 One had turned into a value of 1 million One in the space of a week. It rose to 8c.

    The dump

    I woke up the next morning and the price was 4c. Ouch. My worst fears had happened. It had battled against it but that was it, the end. Or so I thought. People asked what happened and to get people interested I went shilling. Not to pump and dump, but to get new customers. Not all the dump was people selling all, they were just taking profits, good. I had said from the beginning, you sell when you need to, no one knows your story and what that amount of money will do to you. People liked my response. It battled to 10c but dropped again.

    The copycat

    Someone released a coin called 1 billion. It was a reference to my name and advertised it as homage. It was a memecoin standard, where there were burns, tax and no proof of liquidity burn. I found it a compliment. People were annoyed that I didn't get annoyed, but I genuinely thought it would be good for my coin.

    100k Market cap

    This weekend was meant to be my wedding anniversary and nephews 1st birthday. I spent all weekend keeping people active. Growing bonds with people and advertising the competition. The competition happened and the response was immense. Immediately I added the winning logo to the website and shared the site. I expected to wake up back at 1c with the hype dying and having to talk down people wanting free crypto. I had made the mistake of paying people who did not win too as I liked their submission. Big mistake.

    I woke up with the price at 9c. As soon as I was active again it was at 14c.

    Jealousy/FUD

    So I had started noticing that certain people were saying not so nice things about my token and me. The main one being the rug pull. Easy to get rid of with proof of liquidity sent to dead address. This did not stop it. Then it was that I will print more. I showed the contract, hard cap 1 million tokens. They created a telegram group to do group research into new tokens. Fine by me, it is needed. 1st post, my token is on their watch list. I lost my rag. I didn't understand what their problem was. I should have stayed out of it, but it was other people's money in my hands. It felt personal. I managed to bat back every FUD except the fact there could be whales, I couldn't argue that, there were 2 or 3. It was inevitable.

    Then I went onto viperswap tradeable coins on Coingecko and realised my coin was the only Harmony coin with a green trust score. They soon gave up. They were the creators behind 1 Billion or in the circle. 1 Billion got rug pulled. I came out shining. The price stayed stable.

    The tournament

    We flew into second place and have stayed there since. The leading coin is probably out of reach, and they know the tournament creator and viper devs. It feels like they were meant to win. I hope I am wrong.

    The hype dies down

    So this is now getting to present day. Big buyers become smaller sellers, but still selling. We sit at a still very respectable 6 to 7c. I have plans, and will soon start approaching other DEX's for liquidity pools as I now fully understand our value in a pool. Being none deflationary nor inflationary, our value would hold a coin up very nicely. I have to learn social media marketing too, but I will get this coin on a DEX and in a pool. I have to.

    What I learnt and how it changed my view on crypto

    I genuinely thought that it would get bought immediately and I would be dumped off. I was genuinely ok with that. But I learnt that people just want a chance at a better life and crypto gives them hope. Some make it. Some don't. 1 Billion pumped and rugged so hard I had people apologising to me that they had to sell mine to cover losses there. I always said I understood and I did to a certain degree, at least enough to know it wasn't an act against my token.

    The DEX market is really a shit show beneath the hood. Dodgy analytics that lose connection making people think you have rugged (I have been told this is down to Harmony One issues at the moment, which I am inclined to believe). People trying to scam as many people as possible. Harmony was a nice place, but as more comes along the more it becomes like any other. Copies of copies popping up everywhere. It is good, but I wish I could get the message out to everyone, do not dip into it with money you can't afford to lose, even money you don't want to lose. You will lose 9 out of 10 times. There are geniuses in the early days, but they are heavily outnumbered by scammers. It is a shame, but it is inevitable with full decentralisation.

    Token value is set by greed rather than worth. A coin with green candles will outsell a coin with red candle any day of the week. People forget the saying sell when there is greed and buy when there is fear so quickly due to FOMO. It is terrifying and something I am going to start drilling into my kids ASAP.

    Analytics are easily scuffed, especially at low level crypto. I learnt this myself but also watching other coins in the tournament. Do not fall for green candles, please.

    Honesty can win, I was honest from the beginning, I will stay honest. Our little success is testament to this. It pushes me and the community to put more work in and make a genuine project. I know we will get there.

    Being responsible for peoples money is scary. Never will I ever trust anyone again who outright fully enjoys this. I thought it would be fun making money for people, but genuinely it has been terrifying, dizzying and has caused so much anxiety. This is why I have to make this work going forward.

    Thank you for reading this far down and not deleting it if it doesn't get deleted, I thought I would just tell my story, a story I will never forget no matter what. I couldn't it has changed me.

    submitted by /u/gingercrash
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    Why you get downvoted

    Posted: 18 Jun 2021 04:31 AM PDT

    OK, obviously I can't tell you why YOU are getting downvoted, but possibly my personal data will provide general insight.

    There seems to be renewed concern about downvoting, based on recent posts. We all know (or think, anyway) that Moon Greed has caused an escalation in downvotes. I feel like something of an expert in downvotes, because I get a ton of them. I suspect it's because I don't care much about Moons, and don't temper my comments if I have something unpopular to say.

    Anyway, just for fun I did a deep dive into my downvotes over the last 6 months, to see if it might enlighten me as to the types of comments that collect the most downvotes, at least for me. I took all comments that received more than two net downvotes, and subdivided them into self-defined categories. Here's a pie graph, followed by more detailed notes on category definitions:

    https://i.imgur.com/VRS4FfD.jpg

    Some general notes

    This is six months of data, from two accounts. I used to post here with another account, but I lost access to that account, so post from this one now.

    I have only included comments, not original posts. People who comment on others' posts far outweigh people who create their own posts, and it's my hunch that many downvotes on posts come from people who didn't read beyond the title. So data on comments only seems more relevant.

    I also did not go beyond 3rd level comments, as things often degenerate into *ad hominem *attacks with deeper nesting.

    Specific notes on categories

    NEGATIVE COMMENTS ON NANO: I received a total of 297 downvotes for shit-talking NANO, on a total of 21 comments.

    NEGATIVE COMMENTS ON ETH: I received a total of 211 downvotes for shit-talking ETH, on a total of 48 comments.

    NEGATIVE COMMENTS ON SAFEMOON: I received a total of 198 downvotes for shit-talking Safemoon, on a total of 22 comments.

    If you do the math, NANO has by far the highest downvote per comment ratio, and if you worry about downvotes, I'd say refrain from saying anything negative about it. It's clear that saying bad things about any of those three cryptos will bring out downvoters more than any other comment type. Why is that?

    One could frame this positively, as unrelenting loyalty to the downvoters' bags; neutrally, as deep subconscious doubt about their chosen project's viability; or negatively, as merely a high propensity for butthurt. I won't venture to guess which one of those predominates.

    COMMENTS SUGGESTING DECENTRALIZATION IS GIVEN UNDUE IMPORTANCE

    I am all for decentralization. I just believe the expectations of many on this sub are unreasonable in that regard. Further, I believe it's become a buzzword, and that many who use it don't quite get what it means. In any case, offering either of those beliefs will probably not be well-received. I total, I received 179 downvotes on 31 comments in this group.

    REASON FOR DOWNVOTES UNCLEAR

    Of the downvotes included in this data set, there were 171, on 107 comments, for which I could not identify an obvious motive.

    NEGATIVE COMMENTS ON OTHER CRYPTOS

    This represents a range of cryptos, but does not include the three biggies mentioned in the first three categories. There are many cryptos I don't really believe in, and my comments are spread over them too thinly to be worth separating into their own categories. These comments were not generally caustic, just bearish. This includes simply questioning the crypto, without claiming something explicitly negative. 120 downvotes on 37 comments of this nature.

    POSITIVE COMMENTS ABOUT DOGE

    I want to be clear that I don't hold DOGE, and have never claimed it was a solid project. I traded it for a time, but never considered it a long term hold. When DOGE hate was at its peak, people ranted about it without regard for facts, and I often pointed this out. So by 'positive,' I just mean "Well, DOGE does have a legit use case; it's just not great at it," as opposed to "DOGE to the moon, boys!" I gathered 100 downvotes on 27 comments where I apparently failed to apply blind hate to DOGE.

    POSITIVE COMMENTS ABOUT DAY/MARGIN TRADING

    I day trade stocks. That's my job. So I day trade some cryptos, too. I make money at it consistently, so I don't understand the general attitude I detect here that it's pure gambling, and a guaranteed way to lose money. It's not for everyone, it requires tight risk control, and there's a learning curve. But people here dismiss it out of hand. I've occasionally tried to provide perspective, and usually get downvoted for it. 84 downvotes on 11 comments.

    GENERAL IRONY

    Sometimes I'm a smartass, and comment ironically. Sometimes people just don't get it. I won't speculate as to whether it's my fault or theirs. 75 downvotes on 7 ironic comments that I felt were misinterpreted.

    POSITIVE COMMENTS ABOUT OTHER COINS

    DOGE not included. Occasionally I've been downvoted for chiming in with a supportive comment about ADA, HBAR, ALGO, or something else. I received 74 downvotes on 26 comments where I said something good about a specific coin.

    POSITIVE COMMENTS ABOUT COINBASE OR BINANCE

    Again, I want to clarify. I am not a shill for either of these huge exchanges. They have their issues. But for me, experiences have been largely positive, and when I feel that someone is exaggerating how evil they are, I will relate my own experience. I got 36 downvotes for 11 comments that were seen as "making excuses" for exchanges when they caused problems for their users.

    I don't know if any of this helps anyone, but it was fun putting it together.

    submitted by /u/Buck_Folton
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    I made a list of things you can buy with Bitcoin and Ethereum

    Posted: 18 Jun 2021 12:40 AM PDT

    I searched the Internet for goods and services you can Buy Bitcoin and Ethereum and compiled a non-exhaustive list for you guys.

    Bitcoin

    • Anything in El Salvador
    • Mavericks tickets
    • Lap dances in Vegas at Legends Room
    • A Brazilian butt lift at bodySCULPT
    • ​Whoppers from BurgerKing NL
    • Oscar vote counters
    • ​Funeral Service from Crescent Tide
    • Guns from Central Texas Gun Works
    • Rolex watches from JavyEstrella
    • Headlights from Uzooka
    • Cheese fries at the Great Lost Bear in Portland
    • Beer (Old Firtzroy in Sidney + many others)
    • Villa on an Island from Bitcoin Real Estate
    • Emergency Rations from Overstock.com
    • A Tesla (only in El Salvador)
    • Vaccum Cleaners at Overstock
    • Taxi Rides in Argentina and Hungary
    • Plane Tickets from Expedia and CheapAir
    • Coffee in Prague
    • Hemp Soap
    • Powerball Tickets in Minesota
    • Socks from MtSocks
    • Electronics from Newegg
    • TV subscription from Dish
    • College Tuition from New York's King College
    • A Private Jet from Aviatrade
    • A Yacht from Prime Experiences
    • Real Estate in the UK
    • Web Services
    • Video Games
    • Artwork
    • Anything in OpenBazaar

    Ethereum

    • Electronics from Gipsybee
    • Auctioned items at peddler
    • Artwork as NFTs (Foundation, Opensea etc..)
    • DIY equipment from Direct Voltage
    • Ads + random items on Flogmall
    • Just about anything on OpenBazaar marketplace
    • Airline tickets on CheapAir
    • Hotel bookings, flights, car rentals on Destinia
    • More airline tickets (Airstream, Greitai, CryptoJaunt, Tripio)
    • Airport parking at OnAirParking
    • Hosting (FlokiNet, Snel, P2P, Hostplax, Hostsalior, Arion, Hosting.co.uk, hostwinds etc..)
    • Interior Design at Overstock
    • General retail from Galaxus
    • Pheromone Perfume from Pheromonex
    • Sexy Lingerie from Lola Luna
    • Korean beauty products from Cathy Doll
    • Office furniture from Autonomous
    • Crypto merch from KryptoThreads
    • Bongs, pipes and other 420 friendly items from High Life Goods
    • Cannabis seeds from Seed Bank
    • Giftcards (eGifter, Nafa, CryptoEmporium, Gifoff)
    • Video games (CryptoKitties, Gamer All, My Crypto Heroes, Crypto-Games, Instant Gaming)
    • Game built on ETH blockchain - Ox Universe
    • Game gold & collectibles from RPG Stash and SpiderDex
    • Freelance work from - Freelance for Coins
    • A crowdfunded computer from Purism
    • Protective wallet cases from crypto Cloaks
    • Mining Hardware from just about any provider
    • Coffee from Blockchain Coffee

    EDIT: Adding happiness for both lists

    submitted by /u/CyberPunkMetalHead
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    Paraguay’s Deputy of the Nation Confirms: In July We Legislate Bitcoin

    Posted: 18 Jun 2021 03:52 AM PDT

    We are finally the Number 1 Crypto Subreddit, and Moons are the poor man's Bitcoin, and get Motivated

    Posted: 17 Jun 2021 07:34 PM PDT

    Ok, I'd like to start out by stressing that this is not meant to be a shitpost.

    r/Bitcoin had us beat. We surpassed them by 50-100K I think.

    Obviously that means moons are the poor mans bitcoin. A place to talk about crypto generates tons of traffic. Being the number 1 in that department means this subs own crypto is in it's early stages of exploding.

    Obviously. Anyone who can't see that has 1 braincell left, and they just killed that reading this. Moons will moon.

    I would start talking to your co workers about it, your boss , your clients, your mom, your dad, your aunt's, your friends, and even drug dealers.

    If none of them can see what you mean, then none of them deserve a piece of the pie.

    You see... You where born to do this. Those who have courage attract success.

    Need energy to do this? Go out and run, bench press iron. If you don't have that, go out and pick up logs, or bags of dirt and start walking with it. Walk as far as you can. Who cares what people think they aren't moon believers ...right? If you don't have legs then crawl. Do whatever you can to tell people how much you believe in moons.

    People will notice. Believe me. Probably psychiatrists. But what do they know? They are crazy too.

    Be well

    submitted by /u/JuicySpark
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    Tip: Practice "losing" your phone.

    Posted: 18 Jun 2021 04:46 AM PDT

    You have wallets or currency on exchanges. You wrote out some strings of words and have your passwords saved somewhere safe, two factor set up everywhere possible. Life is good. You're sure that if you lost you phone or if someone broke into your house and stole your computers, no one else could access your accounts and wallets.

    But could you?

    Make some time to test your own security. Imagine or recreate a situation where you can't access your usual devices. Will you be able to get your authenticators running again? How will you get your wallets up again?

    "Your keys, your crypto" is comforting, and knowing how to use the scribbled notes in your safe is far better than just vaguely knowing you could. In a test you might discover that something is missing, or you can't read your own handwriting.

    You never think it'll happen to you, but better to be safe than sorry.

    Edit: i think this is the first time automod let a post of mine through! Congrats moon farmers, I'll upvote every reply here.

    submitted by /u/FrisbeeVR
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    Hands up if you hate the tribalism culture in crypto - let’s debate the common downsides to some of the top crypto and talk about why they MAY not be huge issues

    Posted: 17 Jun 2021 11:24 PM PDT

    I want to promote a healthy discussion where everything isn't 100% the best or 0% the worst.

    So I'll kick off with Bitcoin - the common knock on it is that there is "no utility" and "environment impact is poor" etc etc.

    (I am not a Bitcoin investor FYI) but my rebuttal to that would be:

    1. a store of value is utility in and of itself. If there's a critical mass of holders at a certain value on a finite resource (as there is with gold for instance) whilst there may be short term price volatility the lack of utility won't result in a rug pull. That's my opinion anyway

    2. Yes, this one is hard to ignore, and it needs to get better. My only real thoughts on this is that we NEED an easy concept for non-crypto people to be moved into the market. If people then do their own research they will see the plethora of great utilitarian and environmentally efficient currencies out there.

    What are your rebuttals for Bitcoin / other currencies?

    submitted by /u/joshlambonumberfive
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    68% of New Zealanders don't trust their bank, 1 in 5 had a problem with their bank in the last year. More than 100,000 complaints were made to the banking Ombudsman last year.

    Posted: 18 Jun 2021 04:11 AM PDT

    Ethereum Max is a scam using celebrity shills.

    Posted: 18 Jun 2021 05:24 AM PDT

    Just over a month ago a random token was created on Ethereum, Ethereum Max. It's just an ERC-20 token with HODLing rewards and other forms of perks I couldn't find, because they lack a whitepaper. Nothing about this coin is interesting or special, maybe even more useless than the average memecoin. Team is also anonymous, they're not listed anywhere.

    Paid promotion.

    This is where it gets interesting, the team managed to place advertisements on Instagrams of celebrities. One of the people was Kim Kardashian, a reality tv-star worth over a billion USD with 220m+ followers on Instagram. Kim asks anywhere from 300K to 500K for a single picture, sometimes even 1 million depending on what she has to do. That's a lot of money for a project that's just one month old and has no function whatsoever. Floyd Mayweather is also promoting it, while already being fined 600K for promoting a fraud in 2018 called Centra. Managers, where are you? if Emax goes down (it will), it'll drag all of these celebrities down with them for promoting a Ponzi/fraud/scam.

    These dumb scams seem to lower the bar every day for crypto to the point we need James Cameron to raise it again. Site is full of spelling mistakes, pretty common for a scam. Currently the project is sitting at 125m marketcap, so there's a lot of investors who got drawn in thanks to these promo's. Only thing I can say, avoid at all cost. If you're really into ''community'' projects I'm sure there's lot of small organizations in your neighborhood waiting for help.

    submitted by /u/SweetPie123
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    Actor and bitcoin investor Neil Patrick Harris said that he will help people to see how easy and accessible it is to invest in cryptocurrency and join the future of finance

    Posted: 17 Jun 2021 04:05 PM PDT

    Friendly reminder to backup your 2FA

    Posted: 18 Jun 2021 06:32 AM PDT

    First of all, if you're still using 2FA through SMS, you really should consider switching to an authenticator app such as Google Authenticator or Authy. This is a significantly safer option than receiving 2FA codes via SMS.

    Once you've done that, save yourself a potentially MASSIVE headache in the future and backup your 2FA. Ask anyone who has lost their primary device how much of a pain in the ass it was to get their access back to all their crypto accounts and you'll realize why. Most authenticator apps allow you to either enable multiple devices, export a token or generate a QR code to regain access to your 2FAs on another device. This is particularly important if you keep your authenticator app on your primary mobile device, which you're more likely to lose/break than a device that doesn't leave your house.

    As an example, I keep a backup of my 2FAs on an old smartphone that I no longer use. It just stays in a safe place in my home and if anything happened to my primary device I'd still be able to access all of my crypto accounts.

    submitted by /u/xerxxxx
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    For the love of the God, Please don't spam the same news again and again

    Posted: 18 Jun 2021 02:01 AM PDT

    In last 15 mins, there are 3 posts saying the same thing about Grayscale.

    Then Several times news articles on Miami mayor.

    Guys it is good to share the recent developments happening in Crypto World,there are lot of them,you can post any of them.

    Spamming the same news again won't get you upvotes,members would just downvote reading the title of the same news again and again also it is gonna throw the good posts down to Oblivion.

    Just check the sub before posting a news article,how many times it has already been posted? It'd just take few minutes.

    submitted by /u/Acceptable_Novel8200
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    Sichuan orders state power grid to cut supply for 26 bitcoin mining farms

    Posted: 18 Jun 2021 02:06 AM PDT

    Updated - Cryptocurrency Explanations for Beginners

    Posted: 17 Jun 2021 06:37 PM PDT

    Hi all! For those who didn't see the post yesterday (not a lot did!) I have been compiling a list of terms that are used in crypto with some basic explanations of what they are. The purpose of this is to have a way to explain the terminology without scaring people off. I've watched many people try to explain crypto in real life to have the recipient start to gloss over - usually right around when the word blockchain, or decentralized, or mining for hashes come up.

    I've copied the list so far below. Please comment a few things.

    1. Is this worth updating and continuing (I'm happy to do so!)
    2. Are there any explanations you could provide feedback on so that they could be better, more accurate or easier to understand
    3. Would you see value in a website being hosted to promote some of these ideas to help with newcomers to the space? I'd be happy to purchase and maintain said website (no donations or anything needed, just happy to do it).

    thanks for checking it out

    For the definitions that start with an asterisk (*), they are not complete and may not be included going forward. In fact, a few of these may not make the cut as I tried to avoid words that had a negative connotation, and also any terms that may make people question the legitimacy of cryptocurrency in general.

    ___________________________________________________________________________

    Cryptocurrency - what is it?

    Cryptocurrency is a currency similar to any other that you have used or heard of. Quite simply put; it's a value associated with a digital coin, or token. When you purchase cryptocurrency [crypto], you have purchased the ownership of a token that exists on the 'blockchain'. This will be associated with your digital wallet until you sell your token, purchase an item using your token, trade for another token or move to a different digital wallet.

    Blockchain

    Blockchain is a ledger or record of all the transactions that have taken place with the crypto that it is associated with. For example, if you purchased Bitcoin, then you would own the digital token at a particular location on the blockchain. This transaction (the purchase of coin, and storage of said coin in your wallet) would be recorded at a particular point on the blockchain that would remain forever associated with the transaction forever. A blockchain does not erase transactions when there are sales, transfers, or usage of tokens. The blockchain stores that information and blockchain 'workers' validate that transaction indefinitely. This validation of transactions is what makes the blockchain secure and cryptocurrency extraordinarily safe from malicious attempts to gain control of your cryptocurrency.

    If you have ever kept track of your own purchases either through an accounting software, or even balancing a chequebook, this is similar to how blockchain works. It records each transaction and when a new transaction takes place, the original 'block' will then point to the new block with an updated balance.

    Because the blockchain is not stored in a central location (think: bank), it is decentralized. This is a very common word and explanation in the digital world. Decentralization shifts control away from one single person or company and gives that control to the people who own the cryptocurrency. Because the currency is decentralized, it is less susceptible to manipulation from a higher level (government, corporations, etc).

    Wallets

    As mentioned, cryptocurrency is stored on the blockchain. The wallet will hold the keys (or reference) to the coin and that is then associated with your wallet. A wallet is something that you will download to your computer (or store on a digital exchange), and like any wallet, you can look at it to see how much crypto you own. It is important to note that you can not see all of the different types of cryptocurrency in one wallet. You will need to get the wallet that matches the currency you have purchased, or are going to purchase.

    A comparison to traditional money is your debit card. You have a debit card that has money associated with it, but that money is stored in the bank and referenced to your account number. When you log on to your online banking, you see a balance that is associated with your account and debit card when you want to spend it. Although blockchain, crypto, wallets, and keys sound a little more daunting; it's very similar to what you have already experienced with a debit card.

    If you wanted to purchase Bitcoin, you would go to the official Bitcoin site and choose the wallet that best suit your needs. Wallets will typically have light versions and regular versions. Don't be surprised if you download a wallet and it takes a day or two to 'sync to the network'. What's happening here is that you are downloading every single transaction that has ever happened with the cryptocurrency and storing the ledger (records) on your computer. This can sound like a scary thing for sure, but you're actually becoming part of the secure network as mentioned before. Because you have all the transactions, and everyone else has all the transactions this is what makes the blockchain secure. To change the records at a particular point in time, you would have to change the records on every single computer hosting that wallet, at the same time.

    A light wallet gives you the ability to store the information at the current time for your own records. It does not download all of the transactions in history to the computer. It's faster to get going on your own computer, which is always nice!

    A third option is using a digital exchange and letting this exchange host your wallet. This is explained below with some other details about exchanges.

    Digital Exchange

    A digital exchange is a place where you go to purchase cryptocurrency. Depending on the value of what you would like to purchase, you should need to register yourself, using government ID (this depends on the regulations in your country) and answering a set of questions to validate who you are. Picking the right exchange is very important. An exchange that requires no information from you to proceed might sound good, but it might also be a low-budget operation that is susceptible to fraud, malicious intrusions or other issues where you might end up losing your cryptocurrency and any investment that you may have on the website.

    Before you sign up with an exchange, you will need to do some research for your particular area and see what has a good reputation, proper security measures in place and also the ability to buy/sell the cryptocurrency that you are most interested in. If you want to buy Bitcoin, just about any exchange will service this. If you wanted to buy another coin like Dogecoin for example, not all exchanges offer this ability. There are usually ways to figure this out by purchasing a currency that is available and then trading for another currency (purchase Bitcoin, then trade that for dogecoin either on the same website, or transfer to another website) but this can be subject to exchange fees which you will want to research in the first place.

    If this sounds daunting or complicated, it's best to think of it just like exchanging for another currency when travelling. I personally live in Canada and when I vacation in Florida, Mexico or Cuba, I always change my Canadian dollars to US Dollars. I either go into the bank and do this, or visit an exchange booth in the mall or airport. Then I get my exchange done and enjoy my vacation. Sometimes on vacation, I'll end up with local currency which I exchange while on vacation to USD and then when I return home I can either exchange back to CAD, or leave in USD for the next vacation. That's not too dissimilar to cryptocurrency exchanges. I can leave in one currency or exchange to another depending on what my goals are.

    At this point, you're best to establish what your goals are before you start purchasing and exchanging back and forth. This is when transaction fees or exchange fees can start to add up.

    Transaction Fees

    As mentioned above, there are transaction fees on digital exchanges, just like if you were moving money in a traditional bank. It would be impossible to cover specifics as each exchange will have a different setup for their transactions, but this is something that you will want to be aware of and make sure that you have factored into your own calculations as you start to invest into cryptocurrency.

    At the time of writing, I pay a 2% transaction fee on my exchange. Because of this, I try to do less trading and more investing. I don't want to be paying that fee continually as it will eat away at my investment.

    Security

    The safety and security of the blockchain and cryptocurrency in general is extraordinarily high. Because of the things that we have already listed above with the blockchain and how it is constantly validated by a large number of sources, we can be confident that the transactions are secure, next to impossible to 'fake' and we are able to confidently store our cryptocurrency without worry of attempts to steal our funds. Like all things in life; you are only as strong as your weakest link.

    This is where the onus falls upon us as the users to protect our own information. You may have heard of people being scammed for their digital currencies in the past; perhaps their computer was hacked, or something else happened where they lost their investment. This is a possibility, just like it would be if I didn't have a strong password for my online bank. If I were to write down my password for online banking and someone was to see it, I could have a problem. If I were to install a program on my computer that had a virus, I could be open to a malicious attack for my online banking as well. Just like with traditional banking, you must secure your computer and your funds to take care of your end of the crypto transaction.

    From what we have talked about already, downloading the digital wallet is an area that could leave some people open to issues. It is extremely important that you don't download a wallet that was sent to you by someone on the internet. Always download the wallet from the proper source, whether that be the official site for the cryptocurrency you are thinking of purchasing (bitcoin.org if you wanted Bitcoin, for example) or another trusted website such as Github. You will want to ensure you have an Antivirus program running on your computer, and it's up to date. Again, if this sounds scary, this is what you should already be doing considering the amount of information that's typically running through our computers from online banking to personal EMails, to working from home.

    One basic piece of security that I would suggest for cryptocurrency is installing the official wallet for whatever currency you hold, and then sending that currency from the exchange where you have purchased it to yourself. Store this on your personal computer and make sure that you are secure (good password, antivirus, etc).

    What is "mining"?

    First, we will want to think of mining in the traditional sense. Someone (typically) with a large machine is boring through the earth looking for minerals. This machine will do a great deal of work, pushing away rock and sediment to find the ore, gem, or whatever it has been tasked to find. A group of miners uncover earth that carried ancient waters and pushed gold sediment into pockets. They sort and sift that earth through large machines to find gold deposits. Tiny little specks of gold that after some processing become large nuggets or bars of gold that are then sold into the open market and eventually processed to become pieces of jewelry for purchase by the end user.

    Mining a cryptocurrency is not too dissimilar from the explanation above. This process is how new 'blocks' of information are created or discovered for the blockchain. These blocks are then tied into a value of the cryptocurrency that is being mined (a Bitcoin, for example) and this new bitcoin becomes part of the ledger and records that are associated with all of the pieces of bitcoin available to the world.

    But what is the machine mining? The computers that are mining for cryptocurrency are solving complex math problems. These problems get increasingly more difficult to solve as the cryptocurrency gets older, which helps regulate supply as new coins or tokens are created. But what are the computers solving? For us; they aren't solving anything of value. The computers aren't solving specific problems (i.e. a cure for a disease or an equation for automated investing!) but rather just incredibly difficult equations that are designed to make the computer work to get a solution. Although there is a lot more to what the computers are trying to solve in order to unlock a new block, we will leave this definition as is. In a future document, we can cover this in more detail as to what the computers are trying to solve (or in fact, guess).

    As you can imagine, a large amount of computational power is being used to solve these problems in order to release a new coin onto the blockchain. This is one of the areas of concern with cryptocurrency; so much energy use and for what purpose?

    Once the block is solved however, the coin is released to the computer, or team of computers, who solved the hash problem and then that coin is stored in a digital wallet, or sold on a cryptocurrency exchange for profit.

    The above example of mining is what is called "Proof of Work", but as discussed below, this is not the only way to mine a cryptocurrency. There are three other types (Proof of Stake, Delegated Proof of Stake and Proof of Authority), the most popular are covered below (Proof of Work and Proof of Stake)

    Proof of Work (PoW)

    Essentially, proof of work is when a computer or group of computers work together to solve an equation to unlock a new piece of the blockchain. Bitcoin uses proof of work to validate transactions, create new coins and continue to grow as a currency. Proof of work is considered to be a high consumer of energy and has been in the news for some time regarding this. As more miners join the network, the energy use continues to grow.

    When computers solve a complex mathematical equation (or riddle!) this is considered proof of work. "I solved your puzzle, here is my proof!".

    Proof of Stake (PoS)

    Proof of stake is a practice where mining happens not just by solving huge computational problems using powerful computers, but rather where mining or validation takes place based on how many digital coins you hold. The more coins you have to use for mining, the more power you have. Because of this, PoS mining is typically done in pools. Similar to PoW, there is mining and hashing involved, but instead of being able to purchase more and more hardware, drawing more and more energy, users 'stake' their own cryptocurrency to mine new blocks. Again, this is typically done in a pool to provide more changes of unlocking the block and therefore receiving a share of the newly created currency.

    PoS is extremely secure. Staking your coins is also practically risk-free with reputable coins and servers as you still maintain full control of your coins in whatever wallet you are using (you can stake coins on an exchange, or even from a wallet stored on your personal computer). Because you would need to increase your share of the cryptocurrency in order to increase your chances of winning the next block, there is a lot less chance of someone trying to manipulate or 'cheat' their way to new coins/tokens. If someone were to try and break the system, they would devalue all of their own coins in the process.

    Mining pools

    A mining pool is a group of computers who have joined together to increase their computing power and therefore increase their chances of solving a block through hashing. Mining combines the power of all computers, increasing the speed at which the hashes are created in an effort to solve the hash (string of information) to unlock the next block. When successful, the cryptocurrency is distributed throughout all the participants in the mining pool.

    As a single miner it will either be very costly to get enough hardware to put together a system that generates a high enough hash rate (speed) to have a good chance of solving a hash and getting a reward (cryptocurrency payment). This simply means that solo-mining has a low chance of getting any reward. You could try to solve the hash for years without reward. Joining a pool let's the average user utilize their existing processing power (it's still recommended to have a good graphics card) and increase the chance of receiving at least something for their efforts.

    What is "staking"?

    Staking is a very interesting part of cryptocurrency that helps solve some of the challenges around power consumption through Proof of Work systems. To stake your crypto, you would be holding a Proof of Stake coin and therefore, you could join a staking group to try and unlock the next reward on the blockchain.

    Staking is defined as the act of 'locking' up your coins to help validate the network (blockchain) and in turn, keep the network secure. There is little to no risk while staking (no risk when you are using a legitimate coin and software that was downloaded from a reputable site as mentioned before). Although it sounds like you are giving your coin to someone else to use as a proof of stake, you maintain full control of your coins during this process. That said, if you use an online wallet, then you are at risk if the exchange site has a data breach. With many coins however, you can stake directly from the wallet on your personal computer.

    When we discussed Proof of Work, the chances of solving or unlocking the next block were increased by the sheer amount of processing power you were dedicating to solving the hash. In Proof of Stake, the blockchain assigns a particular coin the ability to unlock the next hash. The person with the correct coin gets to unlock the reward. The more coins you have staked, the greater your chances of being selected. So, joining a staking pool is the best way to increase your chances of winning.

    Have you ever played the lottery? A number will be chosen to win the lottery at each drawing. If you have one ticket, you have a low chance of holding the correct numbers. If you have 1000 tickets, you have a better chance. This is the same as staking your coins and trying to win the right to unlock the next reward.

    *Smart Contracts

    Smart contracts are a very interesting part of cryptocurrency's development over time. They have been available at least back to the early days of Bitcoin, but they have been more popular (or simply discussed more) in recent years. A smart contract is an agreement between two parties to do a particular thing when conditions are met. In basic computer speak it's like saying "if this happens, then you need to do that".

    One basic (and very useful) function of a smart contract is that they are immutable. This basically means that they can not be changed. If you enter an agreement with someone with a particular arrangement, it is not subject to change. You will get what you agreed upon.

    One basic (and very practical) example of a smart contract would be a retail transaction. If someone agrees to purchase a product from you, a smart contract can be set in place to pay the seller upon receipt of the product. Another example would be if you had agreed to pay someone $500 / week for work complete, you could have a smart contract set to pay the employee at a specific interval of time.

    How many cryptocurrencies are there?

    There are thousands of cryptocurrencies in existence. One count in early 2021 put that number at over 5,000. This is one thing to remember while looking at the different currencies and thinking about which ones you might want to purchase, or research. You can research the different coins on popular sites with [reddit] , or you can find a listing of the top currencies at [coinmarketcap]

    How do I know the price at any given time?

    For general information, you can use a site like [coinmarketcap] to see the most popular and most valuable cryptocurrencies. You will be able to see prices for all coins listed here. One thing to remember is that you may not be able to actually purchase all of the coins listed here. It would be important to remember to check your cryptocurrency exchange of choice to figure out which coins are available to you, and how much they are at any given time. For example, if you were to use [binance] as your exchange, then you would be able to purchase any of the coins listed on the site, and therefore you would be able to find the most recent prices on the market listing or trade execution screen.

    How do I sell cryptocurrency?

    This will depend on where you have signed up for your cryptocurrency exchange. Typically it's as easy as logging in, finding your wallet or holdings and then executing a sell order. You should keep in mind that depending on where you live, you may be subject to income tax, capital gains tax or other legislation around cryptocurrency.

    What is DeFi?

    DeFi is a term that you will hear a lot about during research for cryptocurrencies. It simply stands for Decentralized Finance and covers a wide range of ways to invest in coins. Being decentralized, it simply means that a number of entities will hold the information about the transactions at hand which gives no one person or corporation control of the transactions.

    DeFi can be used in a wide variety of applications, such as loans. Through different exchange servers, you can take out loans of cryptocurrency, or even put your own crypto into the server to be loaned out and make some interest on your funds. DeFi can also set the platform for sports betting (using smart contracts). For example; if you wanted to bet on a hockey game it could be as simple as if team XYZ beats team ABC, then payout at the following rate.

    Is cryptocurrency legal?

    For the most part, yes. However, you will need to check with your local and national government for clarity around the rules and regulations for your specific country. In most places, cryptocurrency is completely legal and subject to taxes. However, new rules and regulations do come about frequently due to the infant nature of cryptocurrency (it's not that old compared to traditional money).

    Why is blockchain considered a transparent record of sales?

    Because you can see all of the transactions back to the beginning of the blockchain, then you can actually follow coins with relative certainty in many cases. With all of the miners, owners of digital wallets, stakers, etc. being on the blockchain to validate every single transaction (including transactions before the wallet joined the network, for example) then you can not modify a transaction in the past.

    Imagine a government running on blockchain. You know that $1,000,000 was allocated to a project and it was then associated with wallet XYZ. You could follow all transactions associated with that wallet, and see where those transactions were sent to. You know that part of the project was tendering a bid to companies in the local market for refurnishing an office but where did that money go? With blockchain, you can see where it landed, how much was spent at that time and if something looks 'off' or a mystery charge shows up, then the proper people can be held accountable.

    Not everyone would necessarily know where the money went (the address isn't typically plain english), but someone on the oversight committee (for example) would be able to follow the transactions and quickly hold people accountable if needed. Potentially; not more $50,000 toilet bowls being installed in an office just to use up some funds.

    *Gas Fees

    Something that you will start to see as you begin to research cryptocurrency and explore different forums on the internet, watch different investors online, etc. will be "Gas Fees". This term gets thrown around a lot as if everyone knows what it means immediately; which is impossible for a new investor in crypto.

    Gas fees are specifically part of the Ethereum network and are a fee that is associated with the work that is required (computational power) to validate a transaction. This is paid to the computer/computer pool who is working hard on the network to validate the work done on the Ethereum network.

    *How is a new cryptocurrency created?

    Before we start this portion; I am not advising anyone to start their own cryptocurrency. Rather, provide some basic answers to what really goes into creating a cryptocurrency and to provide some clarity in the differences of the two main types of currencies (coins and tokens). So far, I've only used the word token, but there is a distinct difference between a coin and a token that can be explained easily.

    So, if you were following the creation of a cryptocurrency, a new coin would be built on a new and distinct blockchain (such as Bitcoin or Etherum were created) and a token would be built to use that same blockchain to validate their own transactions (such as Litecoin or Dogecoin, for example). In many cases, these new tokens are designed to enhance the original blockchain technology, but sometimes they're just designed as an alternate coin that exists distinctly from the other, but with no real enhancements or long term technology planned to support future development.

    The main point of this explanation is to provide some caution about getting into the next big coin. You can create your own cryptocurrency in minutes just by copying to code from an existing coin. On the plus side, you get a lot of security features and benefits (all the original benefits from the coin, including even Bitcoin), but on the downside, there's no reason to purchase or use a coin that has no new features or enhancements. To get a new cryptocurrency to grow and be properly promoted, you need extensive programming knowledge to ensure you can develop and add to the features already in existence - otherwise, what's the point of the new currency? With this in mind, you must do some research into a coin before adding it to your portfolio or collection.

    To create a token, you will utilize the blockchain of an existing cryptocurrency (such as Ethereum) and you will benefit from the development team that is already in existence. You wouldn't need as much programming experience or know-how.

    dApps

    A dApp or Decentralised Application is an application that is developed on top of a decentralised platform. You know how there are iOS developers that are trained in specific languages and frameworks so they can develop apps for the iPhone? Or Android developers trained to develop apps for the Google Play Store? Well just like that, we have dApp developers who create applications for a decentralised platform like Ethereum.

    The front end of a dApp (the bit that you, the user, interacts with) can be on a website, in a mobile app, or any other system that can interact with the backend. The backend (what's 'under the hood' so to speak) runs on the decentralised platform of choice (like Ethereum) and the records are stored on the blockchain itself.

    You might think that it's simply a matter of platform - like choosing to develop for an Apple iPhone or a Google Pixel. But it actually goes beyond that. dApps are often open-source, meaning developers from around the world can contribute. This means more ideas, quicker fixes, better testing - and an all-round higher quality app. It also improves security because dApps come with the security benefits of the blockchain baked in.

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    Links have been removed as per auto-moderator for subreddit.

    submitted by /u/TiredRightNowALot
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    I'm tired of getting all my crypto news from you redditors, no offense! What are your most reliable news sites for crypto?

    Posted: 18 Jun 2021 02:35 AM PDT

    We've all seen the repost bot articles all day. If the president of El Salvador said something, he apparently said it 69 times.

    Yet somehow huge developments sometimes go unmentioned (or I don't see them).

    I've resolved only to upvote text posts because I don't come here for news. I come here for the explanations, the sense of like minded community and cool stories/ideas.

    In the meantime I plan to go through all the best news sites daily so I have a more comprehensive view.

    Drop resource links people! Most helpful contributors get a moon!

    submitted by /u/48323979853562951413
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    The TITAN FALL should not scare you away from Defi, just see it as a lesson and stay frosty.

    Posted: 18 Jun 2021 03:39 AM PDT

    Titan finance failure was a big one and is allover the sub for good reason.

    Now there are many lessons to be learned from it but one thing it shouldn't do is scare you away from investing in Defi and yield and liquidity pools.

    Defi can multiply your gains easy, as long as you spread the risk and choose projects that have a reasonable return, active team, active telegram and discord where mods answer questions and ofcourse a legit white paper and roadmap.

    How do you spread risk? Well you dont go all in on one project and use only their pools. Choose several projects to earn apy. If one fails it sucks but you still have your investment spread out. Also choose pools that require different assets. Say you ylu invested in pools that needed LUNA. Well the previous crash hit Luna really hard (muh Luna 😭) , so that would ruin your investment. Thats why its wise to choose several different pools from various ecosystems. Imagine you invest on Binance Chain liquidity pools projects only and BSC goes bust, adios investment.

    At the same time a stablecoin yield or liquidity pool is also a great way to make sure you have some assets safely set aside and minimize risk.

    Finally make sure to check back on your investment often enough, at least once a week imo.

    Why i say this, well BURGERswap at one point was crashing as a website and showing APY similar to titan, this was sudden, the rates went from 200 500% to literally numbers like 36626440956%. I didnt like this and the telegram mods didnt help at all. So i removed my investment and a couple of days or weeks later Burger was hacked.

    Unless you hodl on assets within your own ledger or you actually use platforms such as blockfi nexo swissborg celsius etc which are not reall Defi but more Cefi, then you need to be active and checking back on your investment often.

    But its worth it folks. Returns of 100 300 even 800% are legit and exist on reliable platforms for excellent assets. Just dont go all in and as i said keep checking back. Its possible an APY that was 800 goes down to 50% the week after, then you might as well switch pools and look for a more profitable one.

    Defi can make you rich, just put in the time to research and update your knowledge. Crypto is volatile and risky, dont invest what you cannot afford to lose. Make this an enjoyable experience, invest money you can spare and your decisions will not be blinded by emotion.

    Cheers

    u/mythrust shared https://rugdoc.io/ where you can check for potential risky rug projects. Go to their comment and thank them. ❤️

    submitted by /u/Artificial8Wanderer
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    Bitcoin has now died a total of 420 times.

    Posted: 17 Jun 2021 10:56 AM PDT

    Over the years, there has been a lot of FUD. Many people like to proclaim bitcoin and other cryptos dead, when they are very much alive and growing by the day.

    Bitcoin has now been declared dead for the 420th time!

    When will they learn that crypto is here to stay?

    submitted by /u/roberthonker
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    Who else held through the crash?

    Posted: 18 Jun 2021 05:49 AM PDT

    I held onto everything. Portfolio was up about about 90% at the peak of the bull market and only for it to come crashing down and be at a loss.

    Curious to see what others are doing or did. I'm trying to buy up more every few weeks after pay day.

    submitted by /u/theblondelebron99
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    FCA UK informs that the crypto is becoming popular and is no longer considered as a gamble

    Posted: 18 Jun 2021 02:45 AM PDT

    Top 5 Most Popular Play-To-Earn Blockchain Games To Keep An Eye On For 2021

    Posted: 18 Jun 2021 05:52 AM PDT

    It isn't a surprise that blockchain gaming is all the hype in 2021. Blockchain for gaming has long been thought of as the perfect combination. After all, blockchain solves many traditional problems of the gaming industry.Their growth has attracted the attention of many platforms in this space, with a number of games being launched every month.The five play-to-earn blockchain games covered here are some of the most exciting and popular projects this year.

    ​

    1) Farsite: This is a space-themed MMORTS (Massively Multiplayer Online Real-time Strategy) game on Polygon, developed by the makers of the popular game MegaCryptoPolis. This game consists of a decentralized universe with player-owned economics based on NFTs designed for Eth2.

    2) Axie Infinity: This is a Pokemon-inspired universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets.

    3) Berserk: This is a high-intensity card collectible game (CCG) built on the Vulcan Forged platform. The Vulcan Forged ecosystem is already an established blockchain and NFT game studio, marketplace, and dApp incubator with 10+ games, a solid community, and a top 5 marketplace volume.Berserk allows you to battle with beasts and spells with the objective of reducing your opponent to 0 Life points by attacking their creatures or heroes directly.

    4) Hash Rush: This is an online Sci-Fi/Fantasy RTS game that is set in a distant galaxy. The objective is to build colonies and mine 'Crypto Crystals.' This game is built on the Ethereum blockchain and does not require any crypto or wallet to play the game.

    5) Taurion: This is another space-themed MMORTS built on the XAYA blockchain. They have a solid partnership with Ubisoft Entrepreneurs lab. This game is a fully player-driven economy that allows players to mine, refine, research, kill, ally, steal, and so much more.

    submitted by /u/LeomaDegnan
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    Some perspective: We complain that Bitcoin can't break $40k. Meanwhile, some people are using blockchain and crypto tech to build farms in Africa, buy books for kids and feed the hungry. The real revolution is building financial systems that are fair for everyone, not making a few Americans rich.

    Posted: 17 Jun 2021 12:24 PM PDT

    US House Republican becomes first National Party to accept Donations in Cryptocurrency ��

    Posted: 18 Jun 2021 12:59 AM PDT

    Algorand (ALGO): Decentralized & Fast Smart Contracts

    Posted: 17 Jun 2021 03:17 PM PDT

    The £100 Project: How to avoid working until I'm 70

    Posted: 18 Jun 2021 03:46 AM PDT

    Can you get rich in the world of Crypto with only a small starting pot? That's what I aim to find out and I thought I would share some of what I've learned so far. I'm sure there are plenty of similar stories out there but there is also a lot of FUD so hopefully this will help somebody on the same journey.

    Following a very demotivating work review I decide to kick my ass into gear and get out of the world of work as soon as possible. A work colleague mentioned Crypto and despite being in IT for my entire career I never got my head around what was happening in this world. I did some quick reading, signed up to an exchange and bought my first coin. Right at the top of the market.

    Long story short, after a brief flirtation with DOGE (I know!), trading bots (I know, I know!), day trading (I know, I know, I know!) and then DCA into a sensible set of projects I believe in, I realised I needed to accelerate my capital growth.

    This then is the plan. From a starting pot of £100 I need to pay off my mortgage and get a large enough investment fund so I can work when I want to and still support my family. This put some large milestones in my path but really I wanted to see how far I could go to secure my financial future.

    So what is a sensible growth rate. DeFi offers some insane interest rates but they have a lot of risk. More steady growth in things like staking would still take decades to reach my goals. I needed to be growing around 5% a week to get this done in the next 4 years which seemed very reasonable. Day trading is very high stress but swing trading over several days seemed like a good compromise.

    I put in my £100 to Binance, studied a bit of basic TA and started watching for my entries. I decided to keep it to longs, no leverage and where I thought I could clear 5-10% to avoid losses to fees. No shit coins (thanks PSG and SLP), only well established coins with obvious buying signals.

    So far, over two weeks I've completed 6 trades, made a profit on 5 of those and I am averaging over my target for weekly growth. I'm now sitting on stable coins waiting for BTC to settle down a little. I think this is certainly the core of a decent idea.

    I've been writing down some rules as I've gone along, things I've picked up from others or that I've learned myself.

    1. DON'T GET GREEDY
    2. Never risk more than 3% of total capital. A 6% potential loss means only 50% capital in
    3. There is no rush. Only play the good hands
    4. Respect BitCoin, it is in charge. Don't fight the trend
    5. Take your profits wherever they are, don't hunt round numbers or keep chasing higher
    6. Set your stop losses. Double check they are set
    7. Don't mess with leverage
    8. DYOR

    There are lots of future questions. How will this work when I'm dealing in thousands instead of hundreds? What is the most tax efficient way to trade? What is my exit strategy? Is this sustainable over 3-4 years? Can I trust Binance, USDT, SEC, my wallets etc etc? If you have any opinions or experience with these it would be great to hear them.

    And that's it. I'm sure many people here have been on a similar journey but this is my approach. It's more of an escalator than a rocket ship but hopefully I'll get there. Make sure to leave some Lambos at the dealership for me.

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