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    Cryptocurrency Daily Discussion - June 20, 2021 (GMT+0)

    Cryptocurrency Daily Discussion - June 20, 2021 (GMT+0)


    Daily Discussion - June 20, 2021 (GMT+0)

    Posted: 19 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 The prior exemption for karma and age requirements is no longer in effect.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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    Do you want to learn to code and become a crypto developer, from a starting point of no/minimal background in programming? Lets form a distributed study group!

    Posted: 19 Jun 2021 06:05 AM PDT

    EDIT: Subreddit is up - https://old.reddit.com/r/Decentralized101/

    Nothing there yet but feel free to join if you want to be part of this!


    Hi all,

    As per the title, I'm planning to learn to write code, with the intention of becoming more involved in the growing world of crypto, and more specifically DeFi. I'm taking a guess that there might be other people wanting to do the same and so thought I'd propose a kind of mutual motivation study group.

    I've been aware of crypto for a few years, but other than some investments, throwing the occasional donation to Gitcoin grants and trying to share some opinions with the crypto community in various places I haven't been that involved. A situation that I'm sure I'm not alone in.

    My goals are to learn to develop dApps and contribute to the infrastructure that this new ecosystem is being built on, the barrier to this goal is my negligible knowledge of programming. My background is in physics and as such I've had to learn a few tiny scraps of Python, but I've used this so infrequently that it's really just trial and error. Effectively my knowledge level is zero. What I want to be able to do eventually is understand Solidity and probably JavaScript well enough that I can have a chance at deploying smart contracts that do what I expect them to do and therefore be part of building the DeFi future. In a dream success scenario I can eventually transition to working for a DAO, being paid on the blockchain as a developer!

    If that sounds similar to your position; if you're starting to feel like you want more from crypto than just speculating on the changing value of assets or moving liquidity around between pools; or even if you just want to be able to read smart contracts well enough to improve your chances of assessing possible projects to invest in, then please comment below.

    A lot of the inspiration for doing this comes from the excellent resource list posted by u/SolorMining at: https://old.reddit.com/r/CryptoCurrency/comments/n5jz6w/want_to_become_a_crypto_developer_here_is_a_list/ . Much credit for his or her contributions!

    From that list I've put together a rough plan for study. This is based on roughly 10h per week, which is what I have previously been able to set aside for part time, home based learning. If there's lots of interest from people with different amounts of time then we can change the timings, or have different study groups moving at different paces etc. I've also not checked all of these courses for prerequisite knowledge or overlap, so there might be a much more logical order! Please let me know if this is the case! Anyway, here's a draft timeline:

    Weeks 1 - 5

    • CS101: Introduction to Computer Science I (Saylor Academy)

    https://learn.saylor.org/course/view.php?id=6

    Weeks 6 - 10

    • CS102: Introduction to Computer Science II (Saylor Academy)

    https://learn.saylor.org/course/view.php?id=64

    Weeks 11 - 14

    • CS201: Elementary Data Structures (Saylor Academy)

    https://learn.saylor.org/course/view.php?id=66

    Weeks 15 - 19

    • CS202: Discrete Structures

    https://learn.saylor.org/course/view.php?id=67

    Weeks 20 - 24

    • CS302: Software Engineering

    https://learn.saylor.org/course/view.php?id=73

    Week 25

    • Absolute Guide: Linux Tutorial for Beginners

    https://www.bitdegree.org/course/linux-tutorial

    • Git Tutorial for Beginners: Master Version Control

    https://www.bitdegree.org/course/git-tutorial-for-beginners

    Week 26 - 27

    • A Beginner's Guide to Open Source Software Development (LFD102)

    https://training.linuxfoundation.org/training/beginners-guide-open-source-software-development/

    Week 28 - 29

    • A Beginner's Guide to Linux Kernel Development (LFD103)

    https://training.linuxfoundation.org/training/a-beginners-guide-to-linux-kernel-development-lfd103/

    Week 30 - 31

    Fundamentals of Professional Open Source Management (LFC210)

    https://training.linuxfoundation.org/training/fundamentals-of-professional-open-source-management/

    Week 32 - 33

    Blockchain: Understanding Its Uses and Implications (LFS170x)

    https://training.linuxfoundation.org/training/blockchain-understanding-its-uses-and-implications/

    Weeks 34 - ??

    https://cryptozombies.io/en/course/

    Or?

    https://www.bitdegree.org/course/learn-solidity-space-doggos

    Extras (maybe for people who are getting ahead to do in parallel?

    • Cryptography

    https://www.khanacademy.org/computing/computer-science/cryptography

    • Money and Banking

    https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking

    • Options, Swaps, Futures, MBSs, CDOs, and other Derivatives

    https://www.khanacademy.org/economics-finance-domain/core-finance/derivative-securities

    • PHIL102: Introduction to Critical Thinking and Logic

    https://learn.saylor.org/course/view.php?id=410

    • PSYCH101: Introduction to Psychology

    https://learn.saylor.org/course/view.php?id=12

    • SOC101: Introduction to Sociology

    https://learn.saylor.org/course/view.php?id=14

    • PRDV009: Writing Grant Proposals

    https://learn.saylor.org/course/view.php?id=442

    Additional basics/recaps

    • PRDV151: Bitcoin for Everybody (Could fit in before CS101 for those less familiar with blockchain tech?)

    https://learn.saylor.org/course/view.php?id=468

    • Learn JavaScript (Could fit in after CS101?)

    https://www.codecademy.com/learn/introduction-to-javascript

    Probably useful next steps/further depth?

    • CS402: Computer Communications and Networks

    https://learn.saylor.org/course/view.php?id=84

    • CS403: Introduction to Modern Database Systems

    https://learn.saylor.org/course/view.php?id=93

    • CS406: Information Security

    https://learn.saylor.org/course/view.php?id=453

    Anyway, this is a long list, and beginning to end will probably take about a year, but I think for me personally the reward will be worth it, if you think that could apply to you to then please comment below. Who knows, if this gets much traction maybe it'd be worth setting up a subreddit specifically for it, creating some POAPS or whatever other ideas we might come up with?

    submitted by /u/MinimalGravitas
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    Did you know that you can “take” a free class on Bitcoin at the world renowned M.I.T.?

    Posted: 19 Jun 2021 10:37 AM PDT

    There is a free semester of college level, Blockchain/Bitcoin knowledge available in a 20+ part, 1 hour YouTube classroom. It's called "Blockchain and Money". I won't post the link, but enter "MIT OpenCourseWare Bitcoin" and you'll find it. I'm on lesson 3 and it's (surprisingly) not too advanced to understand and I'd recommend it for beginner, intermediate and advanced cryptocurrency enthusiasts. The class takes place in 2018, after the last market cycle peak and is still very relevant. It's amazing you can experience this opportunity online without going to MIT or paying for it. I find myself leaving it on while doing housework or laying around outdoors.

    If you're still not "sold", here's some interesting points.

    1) The class is taught by professor Gary Gensler. You may (now) know him better as the Chairman of the U.S. Securities and Exchange Commission (SEC)

    2) Sitting in the class is Silvio Micali, a computer scientist and founder of Algorand.

    3) Also making visits to the class is Larry Lessig who is the Roy L. Furman Professor of Law at Harvard Law School and the former director of the Edmond J. Safra Center for Ethics at Harvard University

    4) This is same information taught to countless numbers of some influential (and soon to be influential) people in the cryptoverse.

    Check it out!

    submitted by /u/Lobster_Messiah
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    The constant flip-flopping between sentiments of this sub is hilarious

    Posted: 19 Jun 2021 04:02 AM PDT

    on thursday it was all "the bull run is resuming! i have already ordered the special paint for my lambo which isn't a lambo but a köningsegg"

    today it's all "the prices go down by 99,99999% now. 1/6 of your life will now be spent on getting back 1% of the value. then you get rich in 20 years"

    being a member on this sub is really like dating a schizophrenic banana that ends up with bruises over night every night

    submitted by /u/vaginalfungalinfect
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    If you have trouble imagining a 50% loss in the crypto market, you shouldn’t be in crypto.

    Posted: 19 Jun 2021 06:39 AM PDT

    As harsh as it may sound, it's true. You have to accept the fact that fiat value of your portfolio is constantly changing. It can go XY% up or down on a daily basis. Sounds pretty obvious right? Well guess what. Some people are still not able to deal with this. That's why they're panicking and checking the prices every 5 minutes. It messes with your head. Trust me I know what I'm talking about coz I had the exact problem few years ago. You have to develop a mindset of a gardener to be able to accept the short term volatility. At the end of the day, time in the market beats timing the market. I know, you've probably heard it a thousand times before. Just don't let it consume you. I believe in you.

    Just my 2 cents guys, don't take it too seriously. Take care.

    EDIT: Thank you so much for the feedback! Some people think this post is just a stupid karma farming. I know, it's nothing groundbreaking but there are many new investors who might find it useful so let that sink in.

    submitted by /u/WeirdCollector
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    Goldman Sachs becomes first major U.S. bank to begin trading Bitcoin

    Posted: 18 Jun 2021 09:45 PM PDT

    I Have a Friend Who's the Most Financially Responsible Person I know. He entered the crypto market in 2017 at the ATH. Here's how it went.

    Posted: 19 Jun 2021 07:18 AM PDT

    Quick story. He's the most responsible person I've ever known.

    The type of person that stays at a job for a very long time. He's every employers dream, he will be there until the company goes out of business. You can always count on him.

    Hes never taken out loans for a car. He saves until he can buy one straight out. He tells me he never wants to deal with the burden of constantly owing money. He even bought his house in full. Seriously. He saved his money for 15 years and held it in an interest bearing account. You don't see many middle class people saving that much since they were 18. He even prepaid for his phone service. If he can't afford it with cash, he just won't buy it. Makes sense.

    So he never invested into ANYTHING either. One day he asked me some simple things about crypto because he didn't know jack.

    I told him the deal that prices can be very volatile.

    He bought exactly

    • 1 whole bitcoin at $17,000
    • 1 ETH at $900
    • 1 LTC at $150

    He said something about better to have a complete coin instead of fractions. Said he can't deal with fractions because it complicates things.

    Idk what the fk he meant by that but whatever. He wanted 3 main ones and told me likely if everyone heard about it, people will most likely get those in the future. 😆

    I guess we all have our own strategy.

    His goal he told me was to cash out exactly $50K while leaving his original investment amount in.

    Less than a month later everything crashed.

    He had no reaction. He told me he expected that eventually but believed it will be back.

    When I told him how many people get scared and sold low he told me in his exact words.. That's horrible buying just to sell low a month later, that's a problem, investments take years to mature

    The way he described it I was almost certain he had stock market experience or something. He didn't at all. But he worked for an insurance company for many years so maybe he picked up something I don't know.

    So that's what he did. The most financially responsible person I know just Held. Well, recently when BTC was 65K. He cashed out exactly $50k distributed evenly from BTC, and ETH. Left the rest in.

    He did this calmly like it was just another day, and now he wants to buy $5000 in moons but says he doesn't have time to figure it out.

    So there you have it. If a financially responsible person says "You have to just Hold". Then that means there's some logic behind that.

    Just hold. You plan to hold for 3 years or 5? Then stick to your original plan. Don't sell low a month later. That's not how long term investments work.

    Note: I believe he had no reaction to everything crashing because of his years of patience saving. You have to be very disciplined as a young adult to have enough for a brand new BMW, and not spend any of it, not even on a nice watch until your final goal is met.

    submitted by /u/JuicySpark
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    Funny how people writing “how moons changed my life” don’t even have 100 or 1000karma in their acc.

    Posted: 19 Jun 2021 01:05 PM PDT

    How does that work? I would legit applaud and it would make me emotional to read someone who genuinely told the story of how moon changed their life and it wouldn't even be hard to tell if what he/she is saying is true, I mean we would be able to see on his acc how many moons he is earned... and even if they had cashed out we would be able to see how much karma that acc has and if they are posting form another acc... why? Why post from another acc that moons have changed your life?

    It's disingenuous that's all I'm saying. Seeing these kind of posts get an instant 5 rewards and 100 upvotes just make me think they're thinking of an elaborate story (that isn't even good in the first place, just very generic) and buying upvotes and rewards services.

    Yeah, I feel like I'm being a dick but I had to say it.

    submitted by /u/BadAssPleb
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    My son messaged me yesterday and asked me if he sent me some money via Zelle or Cash App if I could buy him some SHIBA INU. My response:

    Posted: 19 Jun 2021 07:33 AM PDT

    Here is how our conversation went (via text, as I was at work). C is my son, M is me:

    C: Hey I might buy into SHIBA INU

    C: buy like 100m shares and once it hits a penny or whatever. BOOM.

    M: lmfao

    C: Don't laugh at me

    M: If Shiba hit a penny it would be worth all the money currently in circulation (I hadn't done the math yet, until a couple of seconds later)

    M: It's not that extreme but to hit 0.01, its market cap would be $3,900,000,000,000 which is currently nearly 6x higher than Bitcoin's cap and 2.6x higher than the market cap of all crypto currently just to put it into perspective

    C: Oh

    M: Yeah there are 394 trillion SHIBA they did that probably to fool people into thinking they're getting a great deal by being able to buy over 1 million of them for $100 (I'm not sure if that's the reason; I've never really looked into SHIBA and haven't read the whitepaper, if they even have one)

    C: Having a million of them would be awesome though would you buy them for me if I sent you the money?

    M: If you want them so badly, buy them yourself.

    C (a couple of hours later): I can't figure out how to do it can you help me out please?

    M: Nah if you can't figure it out, you probably shouldn't be 'investing' in SHIBA.

    C: wow you're being a dick

    M: It's called tough love, son

    Maybe I am being a dick. He gave me $100 in January and told me to invest in whatever I thought was good. I put it into ALGO for him. He gave me a point in which to sell (if/when the investment hits 10x) and hadn't messaged me about investing anything until Dogecoin FOMO hit him when it was around 0.60. This is the 2nd time he's messaged me about SHIBA, the first time was to get my opinion on it.

    On the one hand, I'll feel pretty bad if SHIBA goes the way of Dogecoin and ends up exploding even more than it already has, and his $1000 he wants to throw at it ends up being a multi-bagger for him. On the other hand, I'm worried about him just hearing about some shit coin somewhere down the grapevine, investing and the rug being pulled out from under him.

    I think it's funny and sad how when I told him to invest in SHIBA himself, he got flustered and messaged me back admitting he couldn't figure it out and asking me to just do it for him. I know that he was trying to figure it out that entire ~2 hours but couldn't figure out how to use an exchange (that isn't Coinbase) to complete the transaction. I really meant what I said, that if he couldn't figure it out, that he shouldn't make the investment.

    I plan making the 3 hour drive up to see him next Wednesday when we're both off to hang out and to answer any of his crypto questions that he may have and that I am able to give an informed answer on. I'm not sure what compelled me to share this; I just thought y'all might like to see what someone who knows nothing about crypto's thought process (like him thinking that SHIBA will hit 0.01 without understanding market cap or just how many SHIBA are out there).

    submitted by /u/MightyCaseyStruckOut
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    Respect to the whales who killed off TITAN. By eliminating a bad product, they've done a public service. People who believe in the free market should be celebrating the crash of TITAN, not calling for regulation to prevent such a crash from happening.

    Posted: 19 Jun 2021 02:26 AM PDT

    How I make money that makes money while I’m making money…

    Posted: 19 Jun 2021 12:20 PM PDT

    Yeah, I know that sounds confusing, but hear me out:

    This is how I make extra money while I am at my job and invest that money into coins that make money.

    I work a job that pretty much requires me to just be there. Every once in a while I have to deal with a customer, but for the most part I'm just there on my phone making sure that people don't steal and help customers out when I can.

    While I'm at work I usually participate in online surveys THAT PAY (prolific, Mturk, etc.). They don't pay much, but I can usually earn around $10-15 per hour depending on the survey. I try to do at least 30 min to an hour a day.

    This can usually get me from $35-55 per week.

    I put all of that money into coins that earn interest… mostly staked ETH and ALGO, and sometimes I'll put them in stable coins on Celcius.

    I'm sharing this because I believe it's an easy way for literally ANYONE to earn a little money and store it in places that can earn you money over time.

    It may not seem like a ton of money, but imagine how much you can make if you consistently do something like this for a year or two.

    Remember: It's a marathon, not a sprint.

    Anyhow, I know I'm gonna get some criticism (which is honestly great!) but I would love to hear other folks ways that they make a little extra money and where they put it.

    Looking forward to the comments!

    submitted by /u/okletstrythisout3
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    "Crypto Valley" - San Martin de Los Andes, Argentine. First crypto city in this country. Almost 60% of the population knows about cryptocurrencies and 40% of businesses accept digital currency. It is on its path to a digital city.

    Posted: 19 Jun 2021 07:55 AM PDT

    While sideways in a bear market, it's important to remember 2008 and why the heck crypto is so very important

    Posted: 19 Jun 2021 07:01 AM PDT

    At times like these - it's important to revisit why this all started, and why it's still so vital. Bitcoin was born as a reaction to the 2008 financial crisis - looking back in brief, remember that:

    • Banks and brokers were giving out cheap, subprime mortgage loans to people they knew would be unable to afford them, fuelling a housing bubble

    • these loans were sold to and then packaged up by Wall Street as financial investments such as mortgage backed securities

    • This became a market in itself, with institutions buying and selling these packaged up securities internationally,.without any real idea of what they were

    In other words, no transparency

    Interest rates rose, housing bubble burst, people were unable to pay back subprime loans, financial crash occured in the US and spread internationally -

    Hedge funds went under

    Lehman brothers went under

    Major banks had to be rescued by their governments

    People queued up at banks to withdraw money which wasn't there

    The financial institutions that caused the whole shitshow were bailed out by the government's and the average person paid the price, through taxes, austerity and so on

    Whole countries had to be bailed out

    Basically when the time was good - all the profits were privatised and in the hands of the few, yet when the shit hit the fan - all the losses were socialised, and those responsible were enriched even further while the victims were made to suffer more

    This is what's crypto was all about solving

    It's not about just being a speculative asset class, or fcking moonshots and animal meme tokens

    It's about -

    Taking out the middle man

    Taking control of your own finances

    Transparency of transactions taking place

    Speed and efficiency of transactions

    And a whole load of other good stuff

    Whether things crash or rebound, bear market or bull, every so often reflect back on this. Put things in perspective. Look at all the resistance that's been put in place by the establishment, and look at how now they realise they can't prevent the coming changes so now want to be involved to control it.

    Whatever happens,.if you remember 2008 or read up on it if you are too young to really remember, and you understand what crypto came to solve and improve, you'll still be here for the next year, and beyond.

    submitted by /u/totalcryptonewbie
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    Chainlink to Offer Free Blockchain Developer Training for Writing Ethereum based Solidity Smart Contracts, Implementing Secure dApps

    Posted: 19 Jun 2021 11:10 AM PDT

    The father of El Salvador's Bitcoin Beach received an anonymous donation of a cryptocurrency fortune - now the local economy runs on it

    Posted: 19 Jun 2021 07:14 AM PDT

    Around 6% of the U.S. population now uses or owns crypto, and the trend is growing.

    Posted: 18 Jun 2021 12:22 PM PDT

    Report: Bitcoin Whales Holdings Are Rising As BTC Whales Are Buying The Dip And Not Selling

    Posted: 19 Jun 2021 10:59 AM PDT

    Am I the only one from 2017/2018 that isn't rich now? A 1 million dollar mistake

    Posted: 18 Jun 2021 11:09 PM PDT

    I was soo certain that I was going to be a millionaire at the very least. I never had soo much money in my portfolio. I knew I would eventually write a post on reddit about my crypto journey into early retirement. But it seems as I am cursed. . .

    It all started in late 2017 for me. About November 2017 my friends were talking about Bitcoin and Ethereum. As anyone would be, I became curious. I recalled hearing about Bitcoin in 2011, I remember disregarding it, I was in my very early 20's at that time. Thought there was no need for that because I had a visa card, and I had no idea about investing or anything. I felt regret and fomo, and went all in with whatever I had left. In December that year I multiplied my money, as you can see on that charts everything went parabolic. I wasn't emotionally attached to anything, so selling for a quick 5x was easy. But as you can also see (you might want to write this down) when Bitcoin began entering the bear market in 2018 it took a long time for Bitcoin to find it's bottom (about a year). Everyone on social media and youtube was saying "buy the dip!" technically speaking that is true, I just had to wait 4 years. So I bought the dip of every dip, and 6 to 8 months out I felt foolish for not DCA a little more lightly, and being patient. See, patience plays both ways, to buy and hold, but also to hold USD and to wait for a good entry point.

    Three years have passed, I was investing a large sum of my paycheck into crypto. Living very frugal to invest probably about 80% of my paycheck on average into crypto. I was fairly diversified. Btc, Eth, even XRP and other various alts on beyond page 2 on CMC (I ended up selling these too early). Made many mistakes along the way. You hear the stories about how people got hacked, how they sent crypto to the wrong address, how they didn't sell and held all the way down etc. I heard it all, and I slowly throughout the years crossed each one of those off the list of mistakes I made. Been hacked, scammed, phished you name it. Earlier this year I made the biggest mistake I have ever made thus far, and it costed me 1 million dollars in gains.

    "Bigger bags don't always mean the highest returns."

    My portfolio finally breached the 6 figure range, and quickly was in the multiples reaching more than halfway to a million. It got to my head. XRP wasn't really moving due to the SEC lawsuit. So I thought I should sell it and try to trade it into something else. By the end of that day, I lost a third of that position in USD value. I laughed it off because I had soo much more to spare. I said "I'm going to make this all back on one trade, watch." This went on a few times until I lost 2/3rds of my entire portfolio. I wasn't laughing anymore, and I realized I had become a gambler and not an investor. There was a series of moments where I would buy into something like Binance and XRP but I couldn't hold on for long, I couldn't stomached the stress, I couldn't sleep. So I couldn't hold on long. I realized my psychology changed. I lost the feeling of being safe. When you buy in soo low and hold you can hold through just about anything when you are up X amount. I lost that security when I sold and let the numbers get to my head.

    I took a step back, tried to find a real entry point to get back in at, but I had cold feet. This was around April, I felt like at any time the market could crash. I was still up in profits, so I decided to just wait everything out. 3 years of preparing for this run up and I ruined that opportunity of a lifetime. Will there ever be another opportunity like this again? I guess we will see in 3 years or so.

    I'm not the best writer, and I am skipping through some details but I don't want this post to be too long than it already is. This is one of the biggest and stupidest mistakes I have made in my entire life, but at least I am running away in the green, i guess. I hope some of you that are new here can learn from my mistakes. Just remember, don't let the numbers get to your head when you approach 1 million. Don't get over confident. I heard similar stories just like this where people trade their portfolios away. I remember hearing about it in early 2018. I got over confident, and disregarded the warning signs and stories I have read, people warning me what not to do.

    One last thing before I go back to work. "Bigger bags don't always mean the highest returns." The biggest lesson that learned here. Living soo frugal to pack the heaviest bags does not always mean you will come out on top. So live life and enjoy it. Be with your family.

    Sorry for the long read *put on McDonalds cap*

    EDIT: Forgot an important detail. I would of exceeded 1 million in profits had I not screwed around with my portfolio.

    submitted by /u/StickyNoodle69
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    Today, China pulled the plug and shut down all mining in Sichuan, a province which is powered 90% by renewables. Now these miners have to find a new home.

    Posted: 19 Jun 2021 12:44 PM PDT

    Today, China pulled the plug and shut down all mining in Sichuan, a province which is powered 90% by renewables. Now these miners have to find a new home.

    Few hours ago, China pulled the plug on all mining in Sichuan province, which as per the Cambridge study contributes around 10% to BTC's Global Hashrate. We are already seeing hashrate drop in large pools such as AntPool which has dropped 39% in the last 24 Hours, Binance Pool (23%), HuobiPool (37%), BTC. Top etc. BTC hashrate itself has fallen to a 6 month low, currently it is the lowest it has been in 2021.

    Drop in BTC Hashrate in the last 24 Hours

    As per CoinShares Research, around 43% of Sichuan was already mining from Renewables in 2018, and this number is expected to be much more in 2021.

    Sichuan accounts for the highest share among renewable mining

    All these miners from Sichuan are now faced with the options of either finding a new home abroad, or sell their miners for cheap. Chinese social media networks already are seeing videos of miners being packed into boxes outside an industrial facility. While it is hard to get on the ground reports from China due to the Great Firewall, according to few accounts institutional miners are already in the process of migrating overseas, while small scale retail miners are either selling their miners or adopting a wait and watch approach with regards to the government policy. In the coming weeks and months, mining bans are also set to be enforced in other Chinese regions like Beijing, Qinghai and Inner Mongolia.

    One thing is clear though - the global Bitcoin mining industry is set to undergo a huge change in the coming months. While BTC hashrate has been concentrated in certain China provinces, it could now see diversification to territories like North America, Central Asia, Russia, Northern Europe and North Africa. This can be considered as a positive. However there is also a downside, as mining Sichuan was powered mostly by renewables, it would increase BTC's dependence on other fuels like fossils/nuclear energy.

    Sources: Cambridge Mining map: https://cbeci.org/mining_map

    Coinshares report on BTC Mining: https://coinshares.com/assets/resources/Research/bitcoin-mining-network-november-2018.pdf

    submitted by /u/DetroitMotorShow
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    If you panic sell during a dip, you're only giving whales a bigger advantage over the market

    Posted: 19 Jun 2021 04:31 PM PDT

    Recent reporting has shown that despite Bitcoin's dip, those with hundreds of thousands of dollars - or even millions of dollars - worth of Bitcoin continue to buy and accumulate. However, small-time buyers, those with a few hundred or a few thousand dollars worth, are selling in at a much higher rate.

    This is EXACTLY what the whales want to happen, and why many are confident the whales are manipulating the market. The more small-time buyers who sell there Bitcoin at cheap, the more they can buy and the larger control they can have over Bitcoin's permanently-fixed supply of 21 million. Have no doubt, their goal is for institutions and billions to own the entire Bitcoin market. We should do our best to not let that happen. Bitcoin's future is incredibly bright. Unless you absolutely need the money, HODLing long-term is the best approach and the absolutely best way to gain profit and increase your wealth. Of course it's your money so you should do what's best for you, but if your goal is to make money selling this low probably isn't the best choice.

    And yes, this is (or will be in the future) true of other coins too, but it's especially true of Bitcoin given its small and fixed supply and the growing institutional interest.

    submitted by /u/BoundariesAreFun
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    90% of NFTs Will Be Worthless in 3 to 5 Years, Coinbase Cofounder Warns

    Posted: 19 Jun 2021 12:34 AM PDT

    Stellar and ADA attracting institutional interest

    Posted: 19 Jun 2021 11:19 AM PDT

    UK bank TSB is the latest to ban transfers to Crypto exchanges Binance and Kraken citing "fraud concerns". Banks must never allow the ability to tell people how they can spend their own money

    Posted: 19 Jun 2021 02:42 PM PDT

    Tip to get Trezor at Discount!

    Posted: 19 Jun 2021 08:59 AM PDT

    Most of you might know this but for the few who dont you can claim candies daily after creating an account over at Coingecko.

    If you consecutively login and claim candies for 5 days, you can redeem a coupon which gives you 10% discount while buying a Trezor wallet.

    This is my first post on this sub. I just wanted to say thank you to each and every one of you. I have learnt a lot from you guys and i am very grateful for that.

    Edit : You can redeem your candies for other stuff too such as Vpn subscriptions, books on crypto and much more.

    submitted by /u/Embarrassed_Cow_5255
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    Warren Buffett: "If you don't find a way to make money while you sleep, you will work until you die."

    Posted: 18 Jun 2021 12:22 PM PDT

    Not really a big fan of Warren Buffett, but I think this quote describes perfectly how wealth is accumulated....and it's why everyone is here. No offense to the traders here, but the goal isn't to be sitting in front of screens making the right timing decisions...it's to be letting assets you own accumulate. So congrats for being here and starting on that path...

    submitted by /u/ClaustrophobicShop
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    The SEC has decided to not regulate crypto this year.

    Posted: 19 Jun 2021 05:03 PM PDT

    The SEC has published a document with 49 issues to address for the year. Digital currencies are completely absent from this list, so we can rest assured that regulation will not be coming this year.

    Source

    submitted by /u/roberthonker
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