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    Cryptocurrency Daily Discussion - June 8, 2021 (GMT+0)

    June 08, 2021

    Cryptocurrency Daily Discussion - June 8, 2021 (GMT+0)

    Daily Discussion - June 8, 2021 (GMT+0)

    Posted: 07 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 The prior exemption for karma and age requirements is no longer in effect.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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    Kevin O’Leary, Shark Tank host : “I don’t care if it goes down $20,000 or up $20,000. I’m not selling it. One bitcoin is one bitcoin. I’m in it for the long run.” "Nothing Will Replace Bitcoin".

    Posted: 08 Jun 2021 12:28 AM PDT

    Adam back: No bitcoin wallet was hacked, nor is even known to be possible. Ransom hackers used a rented cloud server. FBI got a subpoena and took control of it and recovered coins. That's it.

    Posted: 08 Jun 2021 02:54 AM PDT

    Can we stop with the WSB bullshit?

    Posted: 07 Jun 2021 06:03 PM PDT

    What the fuck is going on? The front page is full of posts about short squeezes, market manipulation, holding the line, coordinated FUD attacks and other conspiracy-theory nonsense. I get that a lot of folks had a lot of fun and made some good money with the AMC/GME trades - but you have to realize that you caught lightning in a bottle, this shit doesn't happen all the time, and it definitely doesn't happen in markets as liquid and enormous as bitcoin.

    I don't know what this sub is or will end up being about with 3 million members- but can we all just make a commitment to not turn it into some hodl cult to bitcoin? I know we hate centralization but maybe some new moderator policies could help cut down on this kind of discourse. I'm not saying "go back where you came from" or any bullshit like that - I am pretty new to the whole scene as well and I think everyone should be welcome - doesn't mean that every sub has to turn into some off-brand WSB

    submitted by /u/Kemba4Heisman
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    WARNING to users of "GasNow" Chrome extension (eth gas price tracker) : you are exposed to a MAJOR loss of funds risk.

    Posted: 08 Jun 2021 04:46 AM PDT

    The browser extension "GasNow" available for Chrome/Brave allows you to easily keep track of ETH gas price and set up alerts. It has been downloaded by 10 000+ users, ranking it the second most dowloaded gas tracker extension.

    While usefull, a few days ago the extension was updated :

    This extension now asks you to be able to have access and modify what's in your clipboard.

    This is a MAJOR security flaw. Basically if you copy a wallet address to transfer funds, this extension can now identify this address and switch it with another one when you paste it, which will result (if you don't check what you are pasting) in your funds being sent to another address, and thus, stolen.

    If you are currently using this extension, uninstall it ASAP !!!

    If you are not using it, but another similar one, check the permissions you granted because there is a lot of other extensions using this technique...

    Edit : This permission has been deleted. Have a look at u/Snarkie3 comment that shares a statement from GasNow team about this matter https://www.reddit.com/r/CryptoCurrency/comments/nv25pc/-/h10wdyd

    submitted by /u/hereforginger
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    Are idiots really selling because the FBI recovered some hackers BTC?

    Posted: 08 Jun 2021 04:14 AM PDT

    This has to be some of the stupidest FUD I've ever heard of. I thought it would be hard to top Tesla's energy FUD when they are using child labor to mine lithium and ignoring so many aspects about the BTC energy debate, but here we are. So let's recap this latest FUD. Some Russian hackers hacked Colonial Pipeline using ransomware and demanded 4.4 million in BTC. After Colonial paid them the hackers used a simple tumbler to tumble Bitcoin onto an exchange and the FBI was able to track the coins and seize the BTC. Essentially, the hackers were dumb enough to move the BTC onto an exchange that the FBI had access to and people think the FBI cracked the Bitcoin code or something. If you're selling because of this you don't deserve to be rich you deserve to be poor and to the hackers you really are idiots as well.

    submitted by /u/SailsAk
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    Don't listen to Youtubers and Reddit posts about stacking crypto during this crash.

    Posted: 07 Jun 2021 08:33 PM PDT

    A significant portion of /r/CryptoCurrency lurkers are young guns with a bit of money to their names. If that is you, then you may have been tempted to yolo in your savings during this crash to "stack crypto" because popular youtubers and top reddit posts keep touting that markets will rebound.

    Make no mistake, they don't know shit.

    I don't either, but that's why this post isn't necessarily advice, its purpose is to be a reminder: do a risk check.

    Ask yourself: Can you truly stomach 80%+ in losses? Did you invest over 50% of your savings into crypto to try and escape the rat race? Are you reading top posts and following crypto celeb advice instead of doing your own thorough research? Snap out of it. Seriously, take a moment to check if you are alright with losing everything you've invested, because the chances of your portfolio plunging through the water is very real.

    I'm just saying: think twice.

    submitted by /u/JackedAccountant
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    Cardano vs IOTA, an Analysis.

    Posted: 08 Jun 2021 05:19 AM PDT

    Cardano vs IOTA, an Analysis.

    This account exists because I want to provide this space with meaningful insights. My latest contributions were solely focussed around IOTA. I received accommodating and friendly responses from in and outside of the IOTA community which is the reason I keep going as there is obviously demand for these kinds of analysis. Interestingly, after my last two articles around IOTA, I saw people asking for Cardano.

    "Cardano is better!"- "Compare the two!" - "ADA 4tw!" - "They could collaborate!"

    And here we are.

    One thing is clear, in this space only few big projects spend as much time and effort on research and development as ADA and IOTA do, so the task seems reasonable to me simply because these two candidates are worth it.

    Both projects are representing this space from its best side and both will co-exist. That's what I believe.

    Disclaimer: I'm not invested in ADA yet, but this may change after the next update, depending on ADA keeping what it promised (Basho + Voltaire era updates).

    But more about that in the coming weeks and months.

    Today the topic is: Which chain is better?

    A large part of the normie investors follow this question and try to answer it as soon as possible, because in these times you get headaches not only from Covid19, but also from FOMO.

    Sadly, the general approach seems to be opening Crypto Twitter or Youtube and see which project is promoted the most and I'm not sure which project wins this point because both are highly promoted by huge communities but my guess for winning the social score is probably ADA for the time being.

    Since few people take the time to compare the two under the surface, I'll give it a shot.

    Cardano has inherited a considerable part of the Ethereum community, which is understandable if you're familiar with the technical and chronological background of Charles Hoskinson.

    Charles is an Ethereum co-founder, a veteran and knows what he is doing.

    That may be surprising to many that Dominik Schiener, Co-Founder of IOTA is also from this very incubator, who presumably had some connections with Charles and Vitalik at that time. Everyone who followed IOTA lately can say with certainty: Schiener (and the rest of the Foundation) also knows what he's doing as the latest efforts to decentralize IOTA were quite successful and, under his management, IOTA has navigated through the obstacles of this pioneer-journey without big issues.

    Today, both projects can be considered "established" and the initial criticism of IOTA has been leveled out because the last 2 years of development and strategy realignment of the IOTA Foundation have, apparently, paid off so one could argue that IOTA is rehabilitated at once.

    ---------------------------------------------------------------------------------------------------------------------------

    So here we go.

    Some bullet-points that allow the comparison:

    a) Basic stats: genesis, circulating supply, inflation, valuation, fees, transaction speed

    b) Consensus differences and consequences

    c) Where lies the focus of applications?

    d) How high is the social score?

    e) What are the scaling solutions?

    f) What about partners and collaborations?

    g) Who has clear advantages?

    h) Where should you invest?

    ---------------------------------------------------------------------------------------------------------------------------

    ​

    a) Basic stats

    IOTA: Genesis was in 2015 when the Founders and Co-Founders of the project (that registered the German charitable IOTA Foundation in Berlin later) created a crowd-funding for the IOTA tokens.Roughly $500.000 have been collected without premine. Founders and Developers had to invest like everyone else. Circulating supply is 2,779,530,283 miota: 100% of the total supply.
    IOTA was created non-inflationary without any plans to create more tokens.
    IOTA's valuation is at $3.4 billion at the time of writing and the ledger doesn't require fees for sending data or value transactions but tokens are necessary for the latter.
    IOTA was created for the machine to machine economy as part of the internet of things while offering its basic ledger without mining, fees or scaling bottlenecks via a novel consensus mechanism. A coming milestone offers smart contracts.
    With the Chrysalis update, an IOTA transactions takes less than 10 seconds whereas after IOTA 2.0, it takes less than 5 seconds to finalize.

    Cardano: Genesis was in December 2016 when the Cardano Foundation held an ICO collecting over $60 million within 4 months with roughly 15% premine.

    Circulating supply is 31.948.309.441 ADA whereas total supply is at 45.000.000.000 ADA. ~30% of the total supply is yet to hit circulation.
    ADA was created slightly inflationary until staking-rewards and incentives have been paid out but that will take years.
    ADA's valuation is at roughly $54 billion at the time of writing.
    The ledger was created in order to host smart contracts and to scale better than BTC or ETH without the horrendous energy consumption due to ADA's proof of stake, while keeping the advantages of secure and decentralized ledgers.
    Fees are calculated per size, plus a constant. Both the constant and the amount per bytes can be modified but in the end it's ~0.17 ADA which is at ~3 cents right now.
    If the price of one ADA goes up, the fees follow but with the Voltaire update and governance, both values could be changed and reduced to a lower fee depending on stakeholders allowance - which is up for debate as stakers don't want to lose income. With the Ouroboros consensus and the latest upgrades through Shelley, ADA takes approx. 40 seconds to finalize a transaction.

    b) Consensus differences and consequences.

    This one is a bit tricky because the architecture and, as a byproduct, the incentives are completely different.

    IOTA created a novel consensus mechanism based on a directed acyclic graph, the Tangle. All Blockchains are DAG's but not every DAG is a blockchain. IOTA has no blocks and no chain, but it's still a DAG. The rule (for now) for finding consensus is simple. A user has to do a minuscule (like one millionth of a BTC transaction) amount of proof of work to confirm two older transactions in the network- and in exchange has the permission to send a transaction. For the time being this is accompanied by an onboarding mechanism, a central node that gives direction for all other nodes via milestones: the coordinator.
    This will be replaced by a consensus called FPC (fast probabilistic consensus), additionally a combination of modules that work with a gossip protocol called mana.
    In essence: IOTA remains free, becomes truly decentralized (without the coordinator), will not be mined and is lightweight.
    IOTA is a parallelly confirming ledger which means that many transactions can be done at once. Bitcoin and most if not all other ledgers are sequential. There are other perks to it but the main question I hear a lot is:
    If there is no mining, what are the incentives to start a full node, why would you pay for that?
    The answer is simple: Because the industry wants to send data and value without fees.
    The partner-statistics on leveraging this ledger despite its missing monetary incentives are quite compelling. The IOTA Foundation believes that a free protocol is the best backbone for a fair and free industrial revolution that benefits everyone on Earth.

    Cardano with Ouroboros is a proof-of-stake protocol. It distributes network control across stake pools: node operators with the infrastructure required to ensure a consistent and reliable connection to the network. The initial thought was to reduce the energy consumption of Bitcoin and Ethereum and to offer the same dapp landscape Ethereum offers, without drawbacks.

    Up to this day, the controversy around proof-of-stake remains:
    Isn't it diametrical to the decentralized cause if the biggest stakeholders have the most voting-rights?

    My answer is: It's the same issue with POW based ledgers, there will always be some kind of centralization but in Cardano we see a degree of excellent execution that makes it impossible to conduct a 51% attack and most other attack vectors.The slot leaders are chosen from staking pools based on the volume of their stake and a random seed. The seed uses a multi-party computation (MPC) system to determine which stakeholder can be chosen to mint the next blocks¹.

    In easy words: Those that have more coins have a better chance of finding, "minting", blocks, but they also have the biggest motivation to keep their money which is the incentive.The fees of transactions are then distributed to stakeholders and a small share of 20% to the Treasury, some kind of a Cardano development fund.

    The incentive to secure the network is to buy and hold coins, and that way, new investors, "stakers" are found, the network is secure and transaction fees become meaningful. Due to rewards and a higher total than circulating supply, the yearly inflation is calculated (in an ADA Forum) at approx 6.52%.

    ​

    c) Where lies the focus of applications?

    IOTA is set to become the base layer of the Internet of Things. But that's far from it.

    Data-transactions, data-trading in data-market, digital identities, microtransactions in all industries, verifiable credentials, even store of value is possible according to its non-inflationary nature.
    Due to the new architecture with Chrysalis, that will also be used in IOTA 2.0, the Tangle can be leveraged as a smart contract platform for dapps, DeFi, colored coins and every possible use-case around digital contracts.
    Remember when you had these quartet cards as a kid? The car-card with the highest horse-power wins? IOTA is the fastest car in that regard. There is no application IOTA cannot be used for with IOTA 2.0. Buy a computer or a pizza online, stake DeFi, pay for tickets, enter a building with your unique ID, power a supply chain for immutable audits, use it as a non-inflationary store of value: IOTA can do it. IOTA 2.0 is poised to scale into millions of TPS without fees or mining.

    Cardano on the other hand is quite focussed on dapps, value transactions and supply chains.
    Though with hydra, the scaling solution of the Cardano Foundation should enable other use-cases around digital identities as it's supposed to scale into the millions as well, though no practical proof has been delivered so far as it's years away from implementation.
    IOHK and Cardano Foundation teams work on adoption often in developing countries like all over Africa. Emurgo wrote a fascinating piece on the "Africa-strategy". I recommend you read this because the soul of decentralized solutions lies in the participation of those who have less access to the global monetary system, and this "smart Africa" Alliance impresses with a pragmatic solution away from the hype.

    Let's be clear on this one. Both projects have an obvious concern to improve deficits in the world and offer pragmatic solutions.

    In this field, such an attitude can't be praised highly enough.

    The world is big and technological disruption on a broad spectrum like this is rarely done by just one technology so we shouldn't concentrate on the competitive thought too much.

    ​

    d) How high is the social score? (Twitter, Reddit, Google, Discord)

    ​

    Twitter: IOTA has 192.455 follower
    ADA has 672.020 follower

    Reddit: IOTA has 135.000 subscribers
    ADA has 507.000 subscribers

    Google trends:

    (please ignore the blue spike for IOTA as it's referring to a Hurricane in South America)

    Google Trends Comparison 12 months

    Discord: IOTA has 48.000 Member
    ADA has 8.200 Member

    I believe this is pretty self-explaining. ADA clearly wins the social score.
    I'd like to point out that IOTA has one of the biggest and most active Discord communities I've ever met.

    ​

    e) What are the scaling solutions?

    ​

    IOTA just introduced an already running solution: the IOTA 2.0 DevNet (Nectar) that is using the fast probabilistic algorithm, rate control, mana and essentially a multidimensional layer that theoretically scales into infinity only hindered by external factors like bandwidth and sharding (which is researched right now). https://v2.iota.org/
    The final deployment on the mainnet has no ETA but is roughly planned at Q4 2021 or Q1 2022.
    IOTA states to have solved the scalability trilemma without fees with that.

    Cardano plans to change to an extended UTxO model that allows for an efficient state channel solution that operates off-chain, comparable to the lightning network: Hydra. Though, Hydra is likely to be part of the Cardano 2025 vision and rolled out as part of the Ouroboros Omega update.
    ADA claims to be able to serve mainstream demand with this solution.

    ​

    f) What about partners and collaborations?

    ​

    I would have liked to make a list for both projects at the beginning of this analysis, but then, in both cases, the list would have been dozens of pages long, and I don't want to exhaust the attention span.

    Fact is, both projects have an enormous number of strategic partners.

    This is mainstream adoption material.

    The IOTA community has produced an excellent website that gives you an idea of how far the efforts have come. IOTA Archive. We are talking about hundreds of collaborations, partners, patents and proof of concepts. I have rarely seen such a high number in other projects.

    With ADA, the information is much less concentrated, but still very high and downright impressive.
    Cardanodevelopment.com
    Publish0x.com (not official)

    Partnerships only mean something if the utility is used to improve problems. No clear winner here.

    ​

    g) Who has clear advantages?

    ​

    Of course, that depends. From my perspective, IOTA is the underdog here, but with huge upside potential both for the social score and price development.
    Cardano has a market cap of already $54 billion, a number IOTA can dream of ($3.1 billion today). Cardano wins the race in terms of network effect, scientific research and reputation and it has a decentralized main-net today.
    IOTA on the other hand has a working scaling solution for tomorrow, that comes without fees, so naturally, I would assume an advantage in the next 2 years because IOTA reached this milestone years before ADA did. Additionally, the spectrum of use-cases is limited for ADA because fees are fees and with a rising price, the fees are poised to go up higher which isn't really helpful if you compete for the most cost-efficient solution in the realm of data markets, the IOT and digital identities. IOTA clearly has the upper hand here.

    It's a race of network effect vs earlier reached milestones, though I believe in coexistence and collaboration. Time will tell.

    h) Where should you invest?

    That's something only you can determine. Hodl, build and diversify.

    Disclaimer: I'm neither an IOTA nor a Cardano expert and mistakes happen. This is just a tiny analysis because understanding both projects to its core would take months.
    If my research is off, please leave me a message and I correct the mistake as fast as I see it; if that is the case, provide me with an official source of the claim and I add it, thank you.

    What's important to me is that competition is good, but collaboration is better.

    Crypto has <in itself> a lot of enemies but we should realize that our way will be better if we work together.

    Thanks for reading and stay safe everyone.

    submitted by /u/RIOT_DO_SOMETHING
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    Media says "It doesn’t matter where the Bitcoin wallet is—the FBI still can get access". These are dishonest lies. Stop lying and fooling people, FBI & Media!

    Posted: 08 Jun 2021 05:46 AM PDT

    Media says "It doesn't matter where the Bitcoin wallet is—the FBI still can get access". These are dishonest lies. Stop lying and fooling people, FBI & Media!

    According to media reporters, FBI claims that it can get access to bitcoin stored anywhere. That is just impossible, unless somehow they have developed ways to crack SHA256 and brute force wallet private keys. In which case, BTC is the least of everyone's worries and state/nuclear secrets could be under risk.

    While Bitcoin isn't stored on a server, the private keys to unlock the Bitcoin may have been. In any event, an FBI official just told reporters that it doesn't matter where the Bitcoin wallet is—the FBI still can get access. They won't say how.

    And clueless media reporters are taking this to the next level by parroting and amplifying these distorted narratives.

    FBI can empty anybody's wallet.

    What rubbish, if FBI can empty anyone's wallet they can get BTC from the top addresses and all become billionaires themselves. This is some of the weakest FUD but people still seem to be falling for this.

    submitted by /u/Set1Less
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    Joe Biden’s technology advisor has disclosed that his largest personal investment is in bitcoin. The next generation of entrepreneurs and technologists see the digital currency as an inevitability. Just a matter of time.

    Posted: 08 Jun 2021 05:24 AM PDT

    If you guys think cryptocurrency cultish behavior is bad, you should see the cultish behavior around my countries currency. We have "In God We Trust" on our paper dollars and a bunch of other cultish imagery. It's the most cultish thing I've seen. People practically worship this thing

    Posted: 08 Jun 2021 12:17 AM PDT

    You wouldn't believe the things I've seen some people do for this paper that is melting in value faster and faster every day.

    I don't know if you've heard of it, but the cultish behavior around it is crazy. I've literally seen people die over this thing; rob people of their lives over it, and in most cases, rob people of all their time over this thing.

    Heck, I've seen my country go to war with poor countries over this thing, killing hundreds of thousands of impoverished people from poor countries just to protect their paper dollar when its world reserve petra dollar currency status is threatened even slightly.

    It's a sad thing to see when a society is so enamored with a currency that is failing that they will literally work all their lives until their dying day just to try and save what little they can of it, meanwhile, it loses value so fast that everything they need to buy to just to live keeps costing them more and more of this worthless currency that they're struggling and slaving away to save. It's so worthless, that most cannot even afford to save meaningful quantities of it fast enough to keep up with the rate that it loses value. Hell, in reality, most have to take credit just to get by because this thing loses value so fast. Some end up taking loans so large that they can never pay it off in a whole lifetime of work, making them in a sense serfs, or in other translations of the word serfdom: debt slaves.

    You'd think people would realize their currency is shit when lifelong debt is oftentimes their only option to get a roof over their heads or an education, yet everyone in my country loves this paper dollar so much they can't see beyond the charade of its "In God We Trust" and cultish image inscriptions.

    submitted by /u/SatOnMyBalls_
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    Trump fearing Bitcoin is incredibly bullish news.

    Posted: 07 Jun 2021 08:27 AM PDT

    Direct quote from the interview;

    "Bitcoin, it just seems like a scam," Trump said. "I don't like it because it's another currency competing against the dollar ... I want the dollar to be the currency of the world. That's what I've always said."

    Clearly he thinks that Bitcoin is a true competitor to the global supremecy of the USD. He is fearful of Bitcoin disrupting the USD as the standard currency of the world.

    This is some of the most bullish news I've read all week.

    submitted by /u/eulersheep
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    Always Remember Banks that Refuse to Service Bitcoin Customers. The Same Banks Get Caught Laundering Money for Mexican Drug Cartels.

    Posted: 07 Jun 2021 06:06 PM PDT

    Some Banks Refused to service Bitcoin customers because of "Compliance Risks" while they were laundering money.

    Dutch Rabobank as a great example

    https://www.justice.gov/opa/pr/rabobank-na-pleads-guilty-agrees-pay-over-360-million

    https://money.cnn.com/2018/02/08/news/rabobank-mexico-drug-money-laundering/

    HSBC Bank

    This one is the biggest joke.

    Not only have they been Super Vocal about their mistrust in crypto because of possible "unregulated illicit activities", They've been caught up in so many money laundering schemes that they make illegality of bitconnect look no worse than a parking ticket.

    They took it a step further. During the bullrun this last January, they banned it completely. No credit/debit/exchange purchases for crypto. None, zip, zero.

    https://www.bbc.com/news/uk-54225572

    They let a fraudster running ponzi scheme continue with transactions even after they learned about the scam..lmao

    Also here... More Cartel money being laundered.

    https://www.marketwatch.com/story/netflix-documentary-re-examines-hsbcs-881-million-money-laundering-scandal-2018-02-21

    Captial one

    They also were very vocal about crypto being used for money laundering and other activities. 😆. They let some wire transactions on some exchanges but outright banned credit/debit purchases

    https://www.wsj.com/articles/capital-one-settles-with-fincen-over-anti-money-laundering-deficiencies-11610750699

    https://www.americanbanker.com/news/capital-one-fined-290m-for-willful-anti-money-laundering-failures

    Isn't that funny? It seems that every powerful entity that says "crypto bad" is out there doing something illegal themselves.

    This can't be coincidence.. it's about control. Why let the world FOMO into decentralized when they don't have control over it? Surely this hurts them somehow..

    It's getting worse too. HSBC won't let you buy stock in a company if they hold Bitcoin. Lmao.

    https://news.bitcoin.com/hsbc-crypto-policy-bars-clients-buying-stock-companies-hold-bitcoin/

    So much for buying Tesla.

    Just a bunch of dirtbags. They just want control over the flow of currency.

    Sadly they Don't teach kids to not blindly trust because the name brand is big. Wouldn't want them to grow up, and look out for that. That could hurt business.

    submitted by /u/JuicySpark
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    I bought $1k of the Top 10 Cryptos on January 1st, 2018 (MAY Update/Month 41)

    Posted: 08 Jun 2021 06:00 AM PDT

    I bought $1k of the Top 10 Cryptos on January 1st, 2018 (MAY Update/Month 41)

    EXPERIMENT – Tracking 2018 Top Ten Cryptocurrencies – Month Forty-One – UP +26%

    Find the full blog post with all the tables is here.

    Welcome everyone, especially the newcomers, do your monthly no-shill data dump: the Top Ten Cryptocurrency Index Fund Experiment Updates are here at last!

    But first: A 20% bonus for doing nothing with Moons? Nah! Freely you have received moons, freely give moons away: 68 Moons to the first person to name the artist and title of the song hidden in this post AND saying something kind about another Redditor. That's worth about $5 (68\.073) at the moment, my way of encouraging the winner to support* r/CryptoCurrency with a special membership!

    tl;dr

    • What's this all about? I purchased $100 of each of Top 10 Cryptos in Jan. 2018, haven't sold or traded, reporting monthly for over three often very painful years. Did the same in 2019, 2020, and 2021. Learn more about the history and rules of the Experiments here.
    • May - ADA only crypto in the green, the rest have a very (along with all of crypto) have a very rough month
    • Overall since Jan. 2018 - 40% of cryptos in the green, ETH flips BTC for the lead, +26%
    • 2018+2019+2020+2021 Combined Top Ten Portfolios are returning 349%.

    Month Forty-One – UP 26%

    The 2018 Top Ten Portfolio - ADA saves May from a red wall of death

    A tough month for crypto and a tough month for the 2018 Top Ten Portfolio. Although ADA saved the group from a dreaded all-red month, the 2018 Top Ten had its second worst month since the Experiment began – only March 2018 saw a larger decline in value.

    More bad news: after finally breaking even in April, Litecoin has slipped back into negative territory. There are now only four cryptos (BTC, ETH, ADA, XLM) in the green.

    Silver lining? The 2018 Top Ten Cryptos are still up 26% since January 2018. This is roughly where the portfolio was in March. Check out how that return compares to the S&P and the other Experiments below.

    May Movement Report, Ranking, and Dropouts

    Predictably, there were many more cryptos moving down than up this month:

    Downs:

    • NEM – after falling 11 places last month, NEM fell down nine more places (#49–>#58), has now dropped out of the Top 50, and is now dangerously close to finding itself outside the Top Sixty.
    • IOTA – down eight places (#29–>#37)
    • Dash – down five places (#46–>#51), also out of the Top Fiddy
    • Litecoin – down three places (#11–>#14)
    • XRP – down three places (#4–>#7)
    • Bitcoin Cash – down three places and out of the Top Ten (#10–>#13)

    Up:

    • ADA – up three places (#7–>#4)

    2018 Top Ten Rank - a lot can change in 3.5 years

    Top Ten dropouts since January 2018: After forty-one months of the 2018 Top Ten Experiment, 60% of the cryptos that started in the Top Ten have dropped out. NEM, Dash, Stellar, Bitcoin Cash, IOTA, and Litecoin have been replaced by Binance Coin, Tether, DOT, UNI, Doge, and most recently, USDC. That's two stablecoins in the Top Ten for those keeping count.

    May Winners and Losers

    May Winner – Winner, singular: despite a bloody month in crypto, ADA had a very strong May, finishing the month up +33%.

    May Losers – Aw, NEM: for the third month in a row, NEM (-44.4%) was the worst performing of the 2018 Top Ten cryptos. IOTA didn't do much better, down -43.9%.

    Tally of Monthly Winners and Losers

    After forty-one months, here's a tally of the monthly winners and losers over the life of the 2018 Top Ten Experiment.

    2018 Ws and Ls

    With 10, Bitcoin has the most monthly wins. With May's loss, NEM has now finished in last place 11 of 41 months, or 27% of the time.

    Bitcoin is still the only cryptocurrency that hasn't yet lost a month since January 2018, although it has come very close a couple of times.

    Overall Update – Portfolio back at March levels, 40% of cryptos in positive territory, ETH flips BTC for lead

    Although it lost 30% of its total value this month, May marks the fourth straight month the 2018 Top Ten Portfolio is in positive territory. The past four months has been the only time the portfolio has been in the green. That's thirty-seven straight months in the red, followed by the last four months of green.

    40% of the 2018 Top Ten are in positive territory: BTC, ETH, ADA, and XLM. ETH (+265%) has overtaken Bitcoin (+179%) as the best performing crypto of the 2018 Top Ten Portfolio. Coming up fast behind BTC is ADA, up +163% after a strong May.

    The initial $100 invested in ETH forty-one months ago is worth $366 today.

    Still at the bottom is Dash, down -81% since January 2018. The initial $100 invested forty-one months ago is worth $19 today.

    Total Market Cap for the entire cryptocurrency sector:

    https://preview.redd.it/9uc4rxgjh1471.jpg?width=700&format=pjpg&auto=webp&s=c6ff9e36ddf44e10ee8dad36cab39b76068207f4

    After closing last month over $2T, the total crypto market cap dipped back down to $1.64T, the same level it was at a few months ago. As a sector, crypto is up +185% since January 2018. If you were able to capture the entire crypto market since New Year's Day 2018, you'd be doing much better than both the Experiment's Top Ten approach (+26%) and the S&P (+57%) over the same time period.

    Bitcoin dominance:

    Another significant drop in BitDom this month. Not quite as dramatic as April (which saw the steepest monthly decline since the Experiment began), but one of the largest monthly declines in Bitcoin Domination in the last 3.5 years. For context, we still have a bit to go before setting a record BitDom low: the last altcoin cycle saw BTC dominance go down to a low of 33% back in the first month of the 2018 Experiment.

    Overall return on $1,000 investment since January 1st, 2018:

    2018 Top Ten ROI

    The 2018 Top Ten Portfolio lost about $292 in May, breaking a seven month streak of upward movement that started in September 2020.

    Despite the down month, the 2018 group has been in the green for four straight months. If I decided to cash out the 2018 Top Ten Experiment today, the $1000 initial investment would return $1,264, up +56% from January 2018.

    Here's a look at the ROI over the life of the experiment, month by month:

    2018 Top Ten Monthly ROI

    It's been a rocky road, to say the least. The absolute bottom was in January 2019 when the 2018 Top Ten Portfolio was down -88% followed closely by the -87% Zombie Apocalypse month (March 2020) just over a year ago.

    A public service announcement: it's harder to see in the middle of a bull market, but the month of May and the numbers above should be a cautionary tale. Before jumping into crypto, take a moment to think how you would react if you were down -88% on your investment after one year and -87% after two years. That age old advice of not investing what you can't afford to lose? Probably pretty good advice.

    Combining the 2018, 2019, 2020, and 2021 Top Ten Crypto Portfolios

    That's a wrap for the 2018 Top Ten Crypto Index Fund Experiment recap.

    But I didn't stop in 2018: I invested another $1000 in the 2019, 2020, and 2021 Top Ten Cryptos as well. How are the other Crypto Index Fund Experiments doing?

    So overall? Taking the four portfolios together, here's the bottom bottom bottom bottom line:

    After a $4,000 investment in the 2018, 2019, 2020, and 2021 Top Ten Cryptocurrencies, the combined portfolios are worth $17,967 ($1,264 + $5,594 + $7,300 + $3,809).

    That's up +349% on the combined portfolio. While this is a massive drop from last month, the combined portfolios are back to where they were two months ago in March. For some perspective, here's the a look at the monthly ROI of the combined portfolios:

    Combined ROI of all four Top Ten Crypto Portfolios - back to March levels

    That's a +349% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st for four straight years.

    Top Ten Approach vs. All-In Approach

    An index fund is designed to mitigate risks, so going all-in on one coin would have produced better returns, right?

    Short answer: yes. If you guess correctly. Let's take a look.

    Only five cryptos have begun each of the last four years in the Top Ten: BTC, ETH, XRP, BCH, and LTC.

    Assuming the same $1k on January 1st four years in a row strategy of the Experiment, which crypto would prevail?

    Four year club - shoulda went ETH

    Ethereum by far. $4,000 into Ethereum in $1k chunks once a year would now be worth $47,562. That's up +1089%.

    In distant second place, going all in on Bitcoin with $4,000 USD would have yielded +377%, turning the initial $4k investment into $19,089.

    A close third place? The Top Ten Portfolio approach, up +349%. Not bad! And getting closer to an all-in on Bitcoin. This is about what you'd expect for an Index strategy, falling somewhere between the best and worst performers.

    At the bottom? Even though BCH would have been your worst four year all-in bet, this super-slow dollar cost averaging approach would still be returning +144%, still much better than the S&P (see below).

    Comparison to S&P 500:

    I'm also tracking the S&P 500 as part of the Experiment to have a comparison point with other popular investments options. Nothing too dramatic, but the S&P continued to tick up in May, setting yet another all time high.

    Another month, another ATH for the S&P

    The S&P 500 is up +57% since January 2018, so the initial $1k investment into crypto on January 1st, 2018 would be worth $1570 had it been redirected to the S&P.

    As I mentioned last month, I was hoping May would finally be the month the 2018 Top Ten outperformed the overall S&P returns over the same period of time. Alas, it was not meant to be so my champagne stays on ice.

    But it's still not a very fair fight when I combine the four portfolios: taking the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I've been documenting through the Top Ten Crypto Experiments yields the following:

    • $1000 investment in S&P 500 on January 1st, 2018 = $1570 today
    • $1000 investment in S&P 500 on January 1st, 2019 = $1680 today
    • $1000 investment in S&P 500 on January 1st, 2020 = $1300 today
    • $1000 investment in S&P 500 on January 1st, 2021 = $1120 today

    Taken together, here's the bottom bottom bottom bottom line for a similar approach with the S&P:

    After four $1,000 investments into an S&P 500 index fund in January 2018, 2019, 2020, and 2021, my portfolio would be worth $5,670 ($1,570 + $1,680 + $1,300 + $1,120)

    That is up +42% since January 2018 compared to a +349% gain of the combined Top Ten Crypto Experiment Portfolios, a difference of 307% in favor of crypto.

    You can compare against five individual coins (BTC, ETH, XRP, BCH, and LTC) by using the table above if you want. The key takeaway? Using a similar investing strategy, the S&P 500 is currently severely underperforming XRP, Bitcoin Cash, BTC, ETH, LTC and the Top Ten Crypto Portfolio approach.

    Here's a table summarizing the four year ROI comparison between a Top Ten Crypto approach and the S&P as per the rules of the Top Ten Experiments.

    https://preview.redd.it/0olaqs40i1471.jpg?width=675&format=pjpg&auto=webp&s=5a570a08d6667a1cc028c163d2e4972d80c1a2db

    Despite the big crypto dip this month, crypto is still far, far ahead of the S&P over the same time period.

    Conclusion:

    May was undoubtedly a tough month for crypto, but not apocalyptic: more of a shoulder shrug when you zoom out and take a look at the big picture.

    My hope to be able to report this month that a 2018 homemade index fund of cryptos created as an Experiment by some guy on the internet surpassed the gains of the mighty S&P 500 was dashed. If May was a blip in the bull market, maybe I'll be able to announce this in the coming months. If we're at or near the top, that dream will have to hibernate for a while.

    Which is it? Are we at the top or only hitting some mid bull cycle bumps? Your guess is as good as mine. So far, the Experiments show that taking a long term approach seems to be paying off, at least for now.

    To the long-time Experiment followers: thanks so much for reading and for supporting the project over the years.

    For those just getting into crypto, welcome! I hope these reports can somehow help you see what you may be in for as you begin your crypto adventures. Buckle up, think long term, don't invest what you can't afford to lose, and enjoy the ride!

    Feel free to reach out with any questions and stay tuned for monthly progress reports. Keep an eye out for my parallel projects where I repeat the experiment, purchasing another $1000 ($100 each) of new sets of Top Ten cryptos as of January 1st, 2019, January 1st, 2020, and most recently, January 1st, 2021.

    submitted by /u/Joe-M-4
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    The FBI Can’t Crack Your Wallet Address

    Posted: 08 Jun 2021 06:17 AM PDT

    Every crypto wallet has a private key. Most of us are told, rightfully, to guard this private key with our lives, because anyone who gets access to it will be able to take your hard earned cash away. But what if someone like the FBI guessed your private key? This is how private keys look like for Bitcoin wallets:

    KzvYyd4vZ94NyRdgAHFmgtVEFaGi7drgu94DjhCYEf51UqReb1Dp L5HRstY66Urp2VfwvqqASVwHQNJRUJuHg5p6BB46JxJfwccZ5cZV L4Wn4W1hDzzV6a1D9HYnwSBf1m1vzHMWJ6Y8gHT4igDnkwU2GcWK

    All three of those wallet addresses are 52 characters each encompassing both the English alphabet and digits 0 to 9. Bitcoin(and all other cryptos) rely on the fact that each private key is completely new, never seen before and never to be seen again by anyone else. Bitcoin doesn't check for collisions when you generate a new wallet address. But this raises the question, with the ever increasing number of users that are adopting crypto and the fact that one person can have many wallets and even the fact that there are groups such as the FBI dedicated to finding private keys of wallets, what are the chances that your private key could either be guessed or collide with a newly generated wallet with the same address?

    In fact as crypto adoption grows and potentially replaces fiat currency entirely, there will be a number of people who'd definitely think about the prospect of becoming a digital treasure hunter. Just trying address after address until they got to an account with potentially thousands, hundreds of thousands or millions of Bitcoin/ETH/etc.

    What if these people were to create a database of all the possible Bitcoin addresses and then just start to pull out money from all of them one by one? To explain why this wouldn't be possible, all of the world's computers combined today would provide about 2.3 zetabytes of storage according to some estimates. 1 yottabyte = 1000 zettabytes. To store all Bitcoin addresses you would require 5 yottabytes2 storage space. There isn't enough coal and gas on Earth to make the electricity that would store this database.

    Put another way, there are more Bitcoin addresses than atoms in the known universe. How is this possible? Here's an example of a private key which is 64 characters in the range of 0 - 9 and A - F: E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262, this private key doesn't exist for any crypto by the way I got it from an answer on Quora, there are 64 characters, and each character is hexadecimal meaning it can hold 16 different case insensitive values(0,1,2,3,4,5,6,7,8,9,A,B,C,D,E,F), meaning there are 1664 possible private key combinations. Now assume that the world population is 7.6 billion and everyone holds a wallet which adds up to 7.6 billion private keys, even in an imaginary best case the success rate of finding a correct private key is 100 multiplied by 7.6 billion divided by 1664 which is 0.0000000000000000000000000000000000000000000000000000000000000000065634881018717779152936274157283036740481602769715738%.

    In short I just wanted to show everyone how cool the Math behind cryptocurrency is and how while it may seem easy to imagine guessing a private key, it's a gargantuan task that not even the most powerful computers working together in the world today could think of pulling off and how unlikely it is to ever be possible.

    My sources:

    https://www.quora.com/Is-it-possible-for-someone-to-guess-a-private-key-to-a-Bitcoin-wallet-and-steal-the-coins

    https://medium.com/coinmonks/how-likely-is-it-that-someone-could-guess-your-bitcoin-private-key-6c0edd56fa1f

    https://youtu.be/ZloHVKk7DHk

    FYI I posted this not too long ago and it didn't gain much traction, I felt it would be apt to repost it now due to recent developments.

    Tl;dr: it's practically impossible to guess/crack someone else's wallet address even for the FBI.

    submitted by /u/SACHD
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    Panic HODL! A little story from an old guy with minimal tech knowledge

    Posted: 08 Jun 2021 02:25 AM PDT

    There's blood in the streets, it's up to my ankles... [The Doors, Peace Frog]
    I got into crypto in 2017, and put tiny bits of cash into ETH, BTC, LTC, and a pile of shitcoins. I got a Trezor, misplaced it, got another and restored it. I read all I could on crypto, but with my minimal tech knowledge and advanced age, I still felt like I didn't know and understand all I was reading. I'd stop in the middle of an article to research the meaning of some word or phrase. None of my friends had any interest, so all my discussion was online. I made some money (in fact I paid off my house and car) , but I also panic sold in the beginning. I bought Eth at less than $20. It hit $46, and fell to $38. I sold. A few hours later I bought back in at $48. I sold some ETH just before the recent bull run PROOF for house repairs. I've used it to make my life easier, and while I wish I still had it, I didn't sell all I had, and I like the comfort of being debt-free. My current coins recently hit 3X my annual take-home pay. Today they are less than half that. I don't care. My new mantra: PANIC HODL! In fact, when I have to start taking distributions from my retirement fund (all that money I put away from each paycheck) I'll put some of it into crypto. I just don't care what the price is today. It took a long time but I'm at peace with dips and crashes. I don't even have an end goal, except to be sure my child knows how to access my coins when I die... though I did see a beautiful 1960 Corvette for sale recently. Just a story from an old guy, and my only advice - join me, and PANIC HODL!

    submitted by /u/POCKALEELEE
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    Hey if you accidentally got too many Lumens last night on celesti.trade could you please contact me?

    Posted: 08 Jun 2021 04:29 AM PDT

    I'm sure whoever it is, is already aware and it is our fault (an incredibly rare bug caused it) but if you could return the Lumens we'd really appreciate it. We haven't taken any profit from the site at all yet and it's only going to reduce the pool balances for the next time you want to trade so please consider it.

    It was 2554.5 Lumens that we accidentally double sent.

    Thanks.

    EDIT: Btw here are the double transactions we accidentally send just for further proof:

    https://stellarchain.io/tx/e95e256130d321ab1d13534e7c11407641d42a97223d6d1cc7d156ef777bdcd9

    https://stellarchain.io/tx/b9c6fd43e8e3640ed010285446594c660af36f2fb892fe583a62562f9a25c28c

    EDIT2: To be clear the above address we sent to is an exchange address so it's actually impossible to tell specifically who it was sent to without their memo. We have that in our logs but not sure if there's any point in posting it, plus I guess that counts as doxxing.

    EDIT3: We have a potential lead! Waiting on their reply to confirm.

    Edit4: they replied and they will return the Lumens!! Big thank you to the very honest /u/EGarrett and to /u/Dro1100 for finding them! Humanity ain't so bad afterall.

    submitted by /u/VCGS
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    Stats: El Salvador dumps USD reserves for BTC instead

    Posted: 08 Jun 2021 07:12 AM PDT

    El Salvador has been steadily dumping USD from its reserves since October 2020

    Now it announces buying BTC for its reserves amongst news of impending US inflation

    Source: https://tradingeconomics.com/el-salvador/foreign-exchange-reserves

    submitted by /u/tangerineandteal
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    A $50 experiment

    Posted: 08 Jun 2021 01:16 AM PDT

    Based on watching the comments over the last few months I've gathered that the cryptocurrency daily discussion is an excellent meter for measuring market psychology.

    I'm going to start with $50 to test this and invest it into Bitcoin when the Daily is filled with FUD. Today is a great day to start. When the daily says the bull is back on, I'll cash it out and reinvest whatever the profits are as soon as I start seeing bear posts again. Rinse and repeat for the next six months and I'll keep you updated as to the progress.

    Edit: will only be investing the initial $50, cashing out the $50 when sentiment changes, and reinvesting it when the sentiment changes again. No more than $50 will be spent on this experiment. I'm allowed to sell at a loss and allowed to profit, it's all dependent on sentiment.

    Positive sentiment that will trigger a sell: 🚀's 🌕's 'lambos' 'BULLISH'

    Negative sentiment to trigger a reinvestment: 'bearish' 'crypto winter' 'what's happening why is it going down?' 'Does anyone know what's going on' 'see you in three years'

    submitted by /u/MistrWintr
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    Its not HODLing that is hard, it is taking profits that is hard

    Posted: 08 Jun 2021 07:16 AM PDT

    The feeling of greed gets so big that i set absurd sell orders and keep putting my sell orders higher because of the greed. HODLing can be hard but imo taking profits is way higher. When i was up 7 times on my vechain i didn't sell anything so now im "only" up 3 times. Whenever i get close to taking profits i always set new orders, did the same thing in 2018 and never sold any crypto in my life.. could have made so much more. And that's why i think taking profits(even if you Just did a 100% gain) are hard as hell. Hopefully i Will learn from these mistakes

    submitted by /u/Sjors22-
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    List of things to blame when the market is not going your way:

    Posted: 07 Jun 2021 07:34 PM PDT

    • Robinhood not doing every trade
    • Hedge-funds manipulating the market
    • Whales manipulating the market
    • Naked-shorting is rampant
    • Robinhood again not doing every trade
    • Elon Musk
    • Too many shitcoins
    • Dogecoin
    • Tether
    • MtGox
    • Too many shorts
    • Robinhood again
    • Blockstream
    • High-fees
    • High gas
    • Robinhood
    • Mainstream media
    • Upcoming shortsqueeze
    • Upcoming bullrun
    • Bears
    • Robinhood

    Feel free to add more.

    submitted by /u/Harucifer
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    BTC: time the bottom contest

    Posted: 08 Jun 2021 07:23 AM PDT

    Figured I'd throw some moons around to try and lighten the mood here a bit by having a little contest.

    Whoever guesses what the lowest price bitcoin will hit will win 400 moons second place will get 150 moons and third place will get 50 moons.

    Rules:

    -only one entry per person

    -placing is whoever is closest within 2 decimal points of the USD

    -don't deliberately guess the same number as another person a tie will result in a quick contest I'll make up on the spot to resolve.

    -contest ends 6/15 @ 12:00 AM EST

    Edit: to clarify your trying to guess the lowest point between now and the end of the contest.

    Edit 2: I'm new to contests and had an oversight pointed out the original dates for the price will remain the same however all guesses must be submitted by 6/11 @ 12:00 AM EST

    submitted by /u/Nanobot110
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    Unpopular opinion: Legal tender dont mean millions will start using BTC as everyday payment and their savings storage.

    Posted: 07 Jun 2021 06:30 PM PDT

    Im from Latinamerica and reading a lot of people speaking about El Salvador, Paraguay, etc etc... Saying its a way for them to become free or whatever. Or the high remittances these countries have from people living in US, Europe that they send money to their fam.

    Just think, why someone that is already strugling with their finances, will switch to something that 1 week is 20% up, next week 30% down, something they cant predict their economy with. In this sub everyone says, "dont invest more that you are willing to lose" "buy thinking in 5 years hodling" people in here, in latam, barely have something to lose, so why they will put their survival money into something that changes so fast??? Seems like everyone now is changing their speach.

    If 2 months ago i had my house selling for 2BTC, then in may i changed it to 3BTC and now in June to 4BTC, do you think its normal?? In here we use USD to avoid this, we have this with our local currency that has a lot of inflation.

    I think some people that already have some wealth, and have a store, restaurant, hotel, etc. They can accept BTC and hodl it as a investment strategy, but someone that sells vegetables and frtuits in the street, if he accepts BTC then he might probably then switch to a stablecoin, so the day of tomorrow when he has to go and buy more fruits to sell, he knows that 1=1 and not 1=0.9 (or 1=1.1, its just tossing a coin). And then imagine the numbers of it and how you need to do a lot of math, you go to buy 1kg of bananas and then it cost you today 0.000031841 btc, then you go tomorrow and its 0.000029356 and next week 0.000035058, next month 0.000015032 how can you plan your daily life having this fluctuations?? And then do all the maths in your head with this hard numbers.

    I hope im proved wrong, but frankly i can only see it for a small % of the population.

    submitted by /u/heyheoy
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    White House Advisor Holds Over $1M in Bitcoin

    Posted: 08 Jun 2021 04:42 AM PDT

    Proof of stupidity - the new way to passively "stake" your coins

    Posted: 07 Jun 2021 08:31 PM PDT

    You are in charge of your own money when you use crypto. This means that there is the possibility for some stupid shit to go down, and the potential for many coins to be lost.

    Around 20% of the current bitcoin supply is lost, and the number of lost coins will continue to increase as more clueless people get into crypto. For every coin that is lost, the owner is making a donation to all other holders by raising the price of their coins.

    I call this Proof of stupidity

    submitted by /u/roberthonker
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    8 reasons to be buying at these levels.

    Posted: 08 Jun 2021 02:34 AM PDT

    1. FUD is at an ATH. We're getting bombarded on a daily basis, and it worked for a while, but...

    2. The Fear and Greed Index is clustering at lows not seen since March 2020, and before that in December 2018. These were both historical opportunities to buy.

    3. The run up to January/February saw the price overstretch the moving average by almost unprecedented amounts, and we've now snapped back the other way. The difference between the price and the moving average has not been this high since (yep, you guessed it) March 2020, and before that December 2018.

    4. Volume is dropping, which in a correction is very bullish as it means sellers are running out of steam. Here, I've highlighted all the lowest volume points during the corrections of the last 6 months. Notice how they're all either at or near the bottom.

    5. Whales are moving crypto off exchanges at the highest rate since November, which was the start of the parabolic phase of this run: https://mobile.twitter.com/WClementeIII/status/1401687781689135111

    6. Interest rates are still at 0%.

    7. Inflation is thought by the powers that be to be persistent, which is great for the long term outlook of crypto in general.

    8. The stock to flow model is showing that BTC is oversold by levels equalling the most extreme in its history (May 2012, July 2017).

    Taken together, these signs are insanely bullish. It's very likely that if we're not exactly at the bottom, then we're very close to it. You should be buying as much as possible at these levels.

    Edit: just realised I mentioned the volume point twice, so this is now only 7 reasons to be buying at these levels. Still mega-bullish, but 1/8th less so, I guess. Unless someone can suggest another reason I can add...

    Edit2: Thanks to u/Ornery_Maintenance_8 I've added point 8.

    submitted by /u/unc4l1n
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