Cryptocurrency Disqualify removed content from earning moon awards. |
- Disqualify removed content from earning moon awards.
- Daily Discussion - June 22, 2021 (GMT+0)
- Enough with the posts about how awesome it is prices are down and how you wish they go down more.
- Tether has over $60bn under their management and just 13 employees. That's a record, the previous record holder was Bernie Madoff's ponzi scheme with $50bn under management and 25 employees. Isn't this concerning given Tethers refusal to be audited?
- Jim Cramer 9 days ago, “be patient with Bitcoin.” Jim Cramer today, “sold almost all of my Bitcoin. Don’t need it.”
- Please do your part and don't engage with USDT
- Everyone needs to be careful!!!
- Bitcoin Price crashes from $1200 to $800 as China bans Crypto Transactions - 6th December 2013
- Yes crypto is down... BUT IT BOUGHT ME A MOTHER FUCKING PLANE
- This sub is adorable.
- If you bought BTC at $60k but aren't buying at $30k, you were "trading" on emotions and your plan is seriously flawed
- Where do you want to see cryptocurrency in the future?
- Unhealthy censorship is bad for everyone
- Don't Underestimate the Power of Averaging Down (Especially when it's already down a lot)
- Internet ‘may be just a passing fad as millions give up on it’
- Here's an infographic I made about Algorand. Some information during a crash can't hurt!
- You Can be at a Loss Holding Crypto, but if you Hold US Dollars, You're Guaranteed to be a Loss.
- Chinese Bitcoin Miners Start Moving To The United States After CCP Crackdown - June 21st 2021
- A Bear Market would be a good thing for this sub.
- It’s important to remember
- If you're finding it difficult to hodl now, you wouldn't have held then
- DOGE Branded as Ponzi by Federal Reserve Bank President
- A message for the “Crypto could all go to zero” crowd
- Everyone chirpin' about buying at a discount and I'm over here sitting on the sidelines
- Just a friendly reminder about Coinbase
- Potential wins aren't realized wins. Potential losses aren't realized losses.
- Ignore the reassurance posts, no one knows what the future holds
| Disqualify removed content from earning moon awards. Posted: 21 Jun 2021 09:27 AM PDT Currently, karma from submissions and comments is counted towards the monthly moons distribution regardless of whether the moderators removed them or not. The reason for this stems back to when the community use to have an event called Weekend Memes. The intention was to count karma even though all meme posts were removed on Sunday at midnight when Weekend Memes ended. Since Weekend Memes was discontinued several months ago, that concern is no longer valid today. It makes logical sense to only award moons to content which does not break our rules, eg content which isn't duplicated or a rehashed to farm moons. If the act of breaking the rules means you get rewarded, then why have rules in the first place? In this poll, I propose not awarding moons to removed content, whether it is a submission or a comment. **If a submission is removed, the comment section will be spared.** Deleted content will not be affected. Since this poll is a second attempt to approve this rule change and all polls these days are not reaching quorum, the mods are going to try a more aggressive strategy for drawing out vote participation. We are going to pin a link to this poll in several of the upcoming Daily Discussion threads. If it still doesn't reach quorum by the last day, then we will try pinning links in additional posts on the top page. EDIT: Fixed link to prior poll. EDIT: Just to clarify, we're going give this treatment to future polls as well. Polls will be linked in the Daily Discussion thread and the second sticky slot will be used if it's available. As I stated above, it's becoming increasingly difficult for polls to reach quorum. This may be because more moons go into circulation every month. We might have to fix this growing problem in a future poll. [link] [comments]  | ||
| Daily Discussion - June 22, 2021 (GMT+0) Posted: 21 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:
Useful Links:[link] [comments]  | ||
| Enough with the posts about how awesome it is prices are down and how you wish they go down more. Posted: 21 Jun 2021 02:49 PM PDT Ya, I get it. Dips are buying opportunities. And bear markets present potentially great opportunities. And I know some of you mean it when you say you hope it keeps going down. But I don't think a huge continuous slide down is good for crypto long term. I'd rather not have prices drop 50% or 85% more. At whatever price you buy, up means profit. So, I am going to go against the trend and say I hope the market shoots up like crazy and doesn't go down further. I am ready for my downvotes now. 😆 [link] [comments]  | ||
| Posted: 21 Jun 2021 10:29 AM PDT Tether has just 13 listed employees on LinkedIn. Source There is just over $62bn Tether in existence, meaning Tether theoretically has $62bn under their control. Source That is over $5bn in assets per employee of Tether If that seems comically low it's because it is. It's a world record for total amount of money managed per employee. The only similarly small number of employees for such a large amount of money under management was Bernie Madoff's ponzi scheme which had $50bn under management with just 25 employees. Source What benefit is there to having such a low number of employees? Lower costs yes but with the money they control and need to invest surely it would make sense for them to have more than just 13 employees doing this? Or is it because it's easier for them to conceal fraud when there's only a handful of people being exposed to it and most of them have a large interest in keeping the fraud going. Tether has just under $30bn in commercial paper (source) which makes it one of the largest US commerical paper market investors in the entire world alongside the likes of Vanguard (17600 employees) and BlackRock (16500 employees). THIRTEEN EMPLOYEES EVALUATING THE CREDITWORTHINESS OF NEARLY 30BN IN COMMERCIAL PAPER LOANS AND WITHOUT THE OVERSIGHT OF AUDITING. Remember: Tether has never been properly audited, refuses to be audited and has been caught lying through their teeth multiple times Does this not absolutely terrify anyone else? [link] [comments]  | ||
| Posted: 21 Jun 2021 08:52 PM PDT The moral of the story is don't overreact to FUD and stick to your plan be it bullish or bearish. The price of Bitcoin is in the same range it was when he made his first statement. The other moral is don't watch Mad Money for crypto advice. [link] [comments]  | ||
| Please do your part and don't engage with USDT Posted: 22 Jun 2021 02:06 AM PDT It's that simple, the actual market cap of USDT isn't as large of a problem as the sheer volume of trade facilitated through it, the competitors are well over 50% of it's market cap now (and expanding rapidly as people cotton on to the fact it's a Ponzi). If given an option to buy in with an alt rather than USDT, or to trade directly via FIAT, please take that option. Please don't store your value in USDT, please use audited competitors like USDC. Not only will this make it harder for them to mint more USDT due to falling demand, but it will also assist in minimising any potential bank run (if one occurs). [link] [comments]  | ||
| Everyone needs to be careful!!! Posted: 21 Jun 2021 05:42 PM PDT I have seen so many posts about buying the dip, that this dip will be over tomorrow, about how this is a fire sale, etc. Just be careful buying crypto. Nobody knows if this is the bottom or not. Bear markets usually last longer than a month. And it seems like it goes down, goes up, goes down more, goes up, and goes down even more. I've been buying the dip and I bought a bunch of ethereum today at $1900, doubled my position. I'm very careful though in case it does dip lower. Think about how low prices will be if bitcoin hits 20k. Now think about if you're willing to wait that out. Who knows if we could ever see bitcoin at 60k again. I think we will but who really knows. Just be careful and make sure you don't invest more than you can handle. Try not to listen to everyone on Reddit. A lot of these posts are just people trying to get validation about their holdings. Most people on here know nothing. [link] [comments]  | ||
| Bitcoin Price crashes from $1200 to $800 as China bans Crypto Transactions - 6th December 2013 Posted: 21 Jun 2021 08:35 AM PDT
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| Yes crypto is down... BUT IT BOUGHT ME A MOTHER FUCKING PLANE Posted: 21 Jun 2021 08:42 PM PDT Yes it's a bad time to cash out, but I'm still lightyears ahead. I just bought a Rockwell Commander 112B and I've still got over 4 times what i initially invested still in crypto. If I'd made the move a month ago, i would've been left with more, but I'm never going to complain about only quadrupling my money. AND NOW I OWN A FUCKING PLANE [link] [comments]  | ||
| Posted: 21 Jun 2021 05:15 PM PDT You digest every piece of news to fit exactly what you want to believe. The narrative right now is: lol, China bans for the 47th time, buy the dip. A couple weeks ago it was 'China bans don't matter', and before that it was 'eLoN iS mAnIpUlAtInG, iGnOrE hIm.' If Bitcoin was going up amid the China ban, your narrative would be that Bitcoin is so strong that China can't even take it down. If it was going up while Elon was talking about it, you wouldn't even notice his tweets. The news doesn't matter, it just manipulates your interpretation. Bitcoin will continue to be volatile until it's actually used for something. If more people buy than sell it will go up. If more people sell than buy it will go down. That's it. Drop your junior analysis and realize that you're investing in a highly speculative asset that can do anything at any time. If you're investing more than you're willing to lose, you're fucking up. [link] [comments]  | ||
| Posted: 21 Jun 2021 06:14 AM PDT It doesn't take a genius to figure that out. If you're a knowledgeable trader and can time the tops and bottoms with some degree of accuracy then this obviously doesn't apply to you. If you're in this for the long haul, the fundamentals haven't changed.
The price going down is a blessing not a curse because it's so much cheaper! If you buy when it's red and sell when it's green, history tells us that you'll likely profit generously. If you couldn't time the top then you probably can't time the bottom, and you probably won't be able to in the next couple of years, so why are you scared of getting a massive 50% discount? EDIT: Obviously if you have cash to spare. I'm not suggesting you buy any crypto if you can't afford to buy any. I thought that would be obvious. EDIT 2: So many people saying they don't have any more cash to spare. That's because "your plan is seriously flawed". It's in the title. You clearly didn't budget correctly, but you can learn from that and not FOMO everything in all at once next time! [link] [comments]  | ||
| Where do you want to see cryptocurrency in the future? Posted: 21 Jun 2021 11:08 PM PDT Some skeptics once said that crypto will remain in obscurity, but we are finally seeing it bloom in a lot of industries. In recent news alone, we've seen blockchain, crypto, NFTs and the like in art and gaming. Personally, I'm curious to see it in the entertainment industry. I've already heard of Mogul Productions (which apparently aims to decentralize filmmaking) and Crypto Film Fund (which has an incoming movie about bitcoin). I want to see crypto being applied in simpler things like purchasing movie tickets, subscription payments, and the like. What industry do you think is next in the crypto craze? [link] [comments]  | ||
| Unhealthy censorship is bad for everyone Posted: 22 Jun 2021 01:57 AM PDT It is possible I'll be banned from this sub after this post. But I'll still say what I think is truth. About 8 days ago, I created a post in this sub presenting a fact-sheet that foretold of the current crash. My purpose was to let people make educated guess about their investments. It does not matter if I am bear or a nocoiner or a bull. The facts are facts. It is very strange that the post got censored. People simply down-voted a "fact-sheet" and the mods agreed it was spam. It had no spam links. Sold no product. They simply did not like the bearish forecast based on real data. This is the link to the original post. Since only mod can probably view that post now, I created a copy here. For those of you who do not want to open links, here are the points I presented:
Does the above really read like spam to you? Is that kind of censorship healthy? Is it possible that a post like the above could have saved a few of you some money? [link] [comments]  | ||
| Don't Underestimate the Power of Averaging Down (Especially when it's already down a lot) Posted: 21 Jun 2021 09:23 AM PDT Let's say you bought $100 worth of MATIC at $2. Then MATIC dropped to $1 and you bought $100 worth again. What's your average now? If you think it's $1.5, don't worry, you are not alone. I know 2 friends who said the same thing. You have a total of 50 + 100 = 150 MATIC. With a total investment of 200$, your average is 200/150 = $1.33 Now you only need to wait for it's price to go up 33% before breaking even. This is indeed a basic math. But there are some people who legitimately fail with that. [link] [comments]  | ||
| Internet ‘may be just a passing fad as millions give up on it’ Posted: 21 Jun 2021 12:27 PM PDT The internet may be only a passing fad for many users, according to a report. Researchers found that millions were turning their back on the World Wide Web, frustrated by its limitations and unwilling to pay high access charges. They say that email, far from replacing other forms of communication, is adding to an overload of information. Expert from the social society project, which published the report, say predictions that the internet would revolutionise the way society works have proved wildly inaccurate. Many teenagers are using the internet less now than previously they conclude, and the future of online shopping is limited.
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| Here's an infographic I made about Algorand. Some information during a crash can't hurt! Posted: 21 Jun 2021 02:30 PM PDT
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| You Can be at a Loss Holding Crypto, but if you Hold US Dollars, You're Guaranteed to be a Loss. Posted: 21 Jun 2021 08:27 PM PDT and it's gets worse and worse the longer you hold USD. Thanks to inflation. If you held USD in a bank in 1981. Say $1,000,000. You held for 40 years. That's $1M is now worth $333,333. That's because of buying power. Your $1 now was worth $3 in 1981. Especially if you HODL it in a bank. Many years ago, it was common people recieved a tiny interest in the common bank. Now it's opposite. You pay them service fees once a month. This is why they say dump into a 401K so it builds interest. But even that hurts. The annual ROI on 401K is 3-8%. Let's say you average out 5.5% ROI over 40 years. Let's start with year 1 in 1981 when you were 25yrs old. After 40 years , that $5K you dumped in is appx $42,550. That's about an 851% ROI HODLing for 40 years straight. but thanks to inflation, that $42,500 now was only $14,200 back when you started HOdling So really, your ROI after 40yrs is 283% not 851%. Let's not forget tax when you withdraw because it now counts as yearly income. Especially if you're forced to withdraw early for whatever tragic reason. So your ROI is even worse than 280%. Might be 200% or less. But What If you're forced to retire the year 401Ks tanked 50% In 2008? during housing bubble. There were many people that year forced to retire for X reason and had to withdraw. Pretty shitty deal for something that was supposed to be safe. 40 years Hold??? You're not even guaranteed to live for 40 more years. You might drop dead before you see your money. But with crypto, I may be at risk for being at a loss but I also have chances to get 283% ROI in 4 days during bull runs nevermind 40 fuuking years, and even in bear markets. You won't get that Holding USD in a bank. If someone tells you crypto is risky because you can lose. Ask them if they are good at saving money in the bank. It's a trick question. Usually cockiness will kick in and they will openly admit they save money in the bank. Good. Laugh it off and walk away. These people don't know what the FK they are doing and if they did they would be buying cryptos. USD is a medium of exchange only. Don't hold that. Spend it. [link] [comments]  | ||
| Chinese Bitcoin Miners Start Moving To The United States After CCP Crackdown - June 21st 2021 Posted: 21 Jun 2021 07:36 PM PDT
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| A Bear Market would be a good thing for this sub. Posted: 21 Jun 2021 10:06 AM PDT If we go into a big bear market, there is no doubt this sub will be improved from it. Less hype, more meaningful technical discussion. And I'm sorry to say it, but our precious moons. If they go down in price, the moon farmers will run away. Maybe a bear market wouldn't be a bad thing for this sub… [link] [comments]  | ||
| Posted: 22 Jun 2021 03:13 AM PDT That not a single person who bought BTC at the height of any previous bull run is in the red today if they held their coins. I've seen lots of posts this morning claiming that "buy the dip" posts should be ignored, and that HODL posts are just trying to sucker you into giving them a better exit. If you want to try day trading / timing the market right now that's your prerogative, but for anyone who bought at ATH's and is worried about their investment long term, you need to zoom out, and remember what I said. Every person you envy in this space for getting in before you held their coins through times like this. Be safe! [link] [comments]  | ||
| If you're finding it difficult to hodl now, you wouldn't have held then Posted: 22 Jun 2021 02:35 AM PDT There's generally a lot of regret around here, especially during bull markets, about not getting in earlier. New investors all want the big gains and they look at the vets enviously because the vets bought in when things were "cheap." But the fact is that most people who have done very well in this space and have actually made life-changing money have had to hodl through very difficult times. What we are seeing now may be just the beginning of a long and difficult bear market. Most of the top projects are already down 50% to 70% from their ATHs. Yet those people who you envy for getting in early have all dealt with this before. They absolutely dealt with the FUD, with the bleak outlook and crypto having "no future", with the pressure to sell (even at a loss), with the seemingly mounting opportunity cost, and they still decided to hodl for better days. That is a VERY difficult thing to do. If you had gotten in earlier, would you have been able to hodl? Here is the opportunity for everyone who joined us in the last six months to test their conviction, get some battle scars, add to their bags (wisely) and hopefully come out better on the other side. Will the last bull be the last bull? Probably not. So the only thing that could prevent you from becoming that envied vet next time around is quitting now. [link] [comments]  | ||
| DOGE Branded as Ponzi by Federal Reserve Bank President Posted: 21 Jun 2021 03:49 AM PDT
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| A message for the “Crypto could all go to zero” crowd Posted: 21 Jun 2021 05:02 PM PDT It is a logical impossibility. You know how to be sure? Ask yourself the following question: Would you buy BTC if it went down to $1 per coin? That's obviously an extreme example but I think I can speak for 99% of us here and say that we would undoubtedly load up if BTC was $1. So...extrapolate that. What if it was $10? $100? $1,000? The tech is great and has a chance to change almost every phase of life but at the end of the day, a lot of people invest simply to see a return on that investment. BTC and crypto in general has proven to be an asset class that can make ridiculous returns so you will have people gambling on that speculation for decades, simply because of past performance. It doesn't matter if we ever reach previous ATH's or not. It doesn't matter if it ever is widely adopted or used at McDonalds. Crypto is here to stay due to its proven ability to make great ROI. If you think otherwise then you truly do need to either sell now or go take a break from the market. You aren't really thinking logically. [link] [comments]  | ||
| Everyone chirpin' about buying at a discount and I'm over here sitting on the sidelines Posted: 21 Jun 2021 06:34 PM PDT Here's a strategy: don't buy or sell, just sit on the sidelines and let the market cool down. Nobody offers the advice that you can just chill and wait for the market to become less of a shit show. If there is any good indication that the market is fucked right now, aside from the total market cap going -54% in 44 days, it's everyone's frantic attempts at reassurance and repetitive posts about discounts and buy the dip. After huge run ups it's hard to shake the excitement, and the inclination is to jump back in before things are done cooling off and stabilizing. While it's hard to consider because we're all glued to our phones trying to predict the future and eager to participate in a financial revolution, sitting on the sidelines for a month or so might be in the best interest of your health and your wallet. [link] [comments]  | ||
| Just a friendly reminder about Coinbase Posted: 21 Jun 2021 10:16 AM PDT In the past few days I have noticed several people complain about the fees on Coinbase. I just think it needs to be known, there is Coinbase Pro. It's a separate app, but the two apps connect. The fees are a lot lower on Pro, and the best part about it is that Coinbase Pro is free to use! CB Pro is a little more technical with more options and it's not as easy to look at, but it's totally worth it for the lower fees. So what's the point of the regular Coinbase? That should be used as your wallet. You can move your crypto instantly between the two once your funds clear. The reason why you would want to use regular Coinbase is because some coins offer staking rewards and it is easier to look at. Also Coinbase has vaults which provide extra security. You would also want to use Coinbase Pro for selling your crypto, so you can move it back to Pro whenever you like . I hope this helps you guys, the more money you save from fees, the more sweet crypto you can buy! Take care and good luck Edit: I was just informed you can actually deposit your fiat on regular Coinbase and move to Pro without having to wait for funds to clear! Edit 2: You can also do limit orders which are super helpful! [link] [comments]  | ||
| Potential wins aren't realized wins. Potential losses aren't realized losses. Posted: 21 Jun 2021 11:50 PM PDT Here are plenty of post, which show how much wins/losses you have made. As long as you don't pay out you haven't. If you don't realize your gains or losses it can raise or fall even more. So if you wanna brag with your wins/losses then please do it with realized gains. Not a financial advice. I am just a monkey with cymbals. [link] [comments]  | ||
| Ignore the reassurance posts, no one knows what the future holds Posted: 21 Jun 2021 02:36 PM PDT Crypto could bounce back next week, go into a 2-3 year bear market until the next Bitcoin halving, or, while somewhat unlikely, yes, it could totally die off. Yes, really. Anything can happen, black swan events can happen. Anything else is just people reassuring themselves. Yes, you could 'delete app and come back in 5 years' and not be rich at all. It could all go to 0. It could also all go 1000x. Or somewhere in between. Who knows. Not me. Not Michael Saylor, and not even Elon. Everything is speculation. Let's hope for the best, and hope that we end up making it. If possible, DCA what you're willing to lose throughout a bear market. This may not be a bear market, but in general. [link] [comments]  |
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