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    Cryptocurrency Daily Discussion - July 22, 2021 (GMT+0)

    July 22, 2021

    Cryptocurrency Daily Discussion - July 22, 2021 (GMT+0)

    Daily Discussion - July 22, 2021 (GMT+0)

    Posted: 21 Jul 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 The prior exemption for karma and age requirements is no longer in effect.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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    Bitcoin will reach $75k in September: Here's How

    Posted: 21 Jul 2021 09:49 PM PDT

    Bitcoin will reach $75k in September: Here's How

    So, as we all know, technical analysis is an extremely useful and accurate way to predict price movement over time. However, most people fail to use it correctly because they lack the skills to recognize great set ups. Triangles, wedges, cups and handles and flags and pennants and everything else you've been told to use might work 40-50% of the time, but what if I told you that there was an extremely rare, EXTREMELY BULLISH chart pattern that you've never heard of?

    I introduce to you: the "Stegosaurus Under a Rainbow". Charts this bullish are almost always the stuff of fantasies, but as of the 7/20 daily candle's close, Bitcoin has broken out of its spiked tail range and will soon be on the move to ATH.

    The \"Stegosaurus Under a Rainbow\" Chart Pattern

    So, how does it work? Glad you asked. First, we start with the formation of the head, and most notably, the eyeball. The uptrend into 2021 began to reverse and form the neckline, which ended in mid-February. The long wicks in January, one green and one red, form a level of support perfect for this little guy's eye to sit at. But, the formation of the head + eye do little on their own, so let's move on.

    During the massive bull run, we see BTC in a strong uptrend, creating higher highs and higher lows between February and the end of May. These form the iconic scutes, (the bony plates on its back) and lead us gently into the consolidation phase, the spiked tail.

    Before I forget, the rainbow is an often overlooked feature of this highly technical pattern. In order to be confirmed, there needs to be a touch from the candles in the head range, the tail range, and each and every scute. Although we almost didn't get the last bounce from the tail spikes, it managed to eek out two bullish days in a row and close the rainbow.

    The most delicate and most important phase is the final consolidation down Mr. Stegosaurus' spiked tail. These choppy movements are volatile and difficult to trade, but somehow the candles managed to outline an exceptionally strong tail.

    The nearly 8% swing on the 7/20 candle broke out to the upside of the tail range and confirmed that, beyond a shadow of a doubt, Bitcoin is about to take off and reach ATHs very very soon.

    See you all at $75k!

    submitted by /u/thesimplemindedllama
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    Reminder: Today, US Congressman Rep Brad Sherman who is trying to ‘Shut Down’ Crypto and gets his largest accumulative donations from big banks, is having a town hall on July 21st, 7pm. Might be a good time to call in and remind him who he's supposed to be working for

    Posted: 21 Jul 2021 10:41 AM PDT

    Wait for it...

    Posted: 22 Jul 2021 01:19 AM PDT

    Ethereum Could Skyrocket Over 860% in 2022, Predicts Top Crypto Analyst | The Daily Hodl

    Posted: 21 Jul 2021 02:34 PM PDT

    A guide to free and passive crypto | The frugal perspective

    Posted: 21 Jul 2021 06:14 PM PDT

    I've been meaning to make a post about getting into a crypto from a frugal/low-income perspective with careful considerations of all the little gains and losses. So here is MY guide.

    One of the anxieties with crypto as a complete beginner was the gas fees, exchange fees, deposit fees. (I was on the waitlist for Coinbase Earn for far too long but I finally got in and my frugal crypto experience was complete)

    Exchanges - Promotions and Sign Up Bonuses

    So as a newbie to crypto, one of the big questions is what are all the exchanges and which offer the best fees overall? As a Canadian, I luckily had the BitcoinCA subreddit that listed a few exchanges along with the power of doing your own research I was able to learn about the various exchanges. I noticed a lot of them had signup bonuses. If I wanted to dip my toes into crypto I could cover any early losses or fees by making use of them. I knew nobody in crypto so I used random referral codes I found on google.

    • Shakepay - Deposit $100 get $30
    • Newton - Deposit $100 get $25
    • Coinberry - Deposit $50 get $20

    And the list goes on, all of my initial crypto purchases were on brand new exchanges that gave me essentially free crypto for my purchases. I made hundreds from bonuses.

    Furthermore I made $130 from multiple Celsius promotion codes + sign up bonus and $10 from depositing into Blockfi when I tested these platforms out.

    Passive Income

    Staking - Now I used Celsius and Blockfi which are Centralized platforms that basically lend out your crypto like a traditional bank. So by having my BTC/ETH on their platforms it was basically netting roughly 5-6% interest. I did my research and was okay having a lot of my crypto on a platform that wasn't my keys. As of now I use Celsius exclusively and with enough of a crypto balance one could be making a few dollars every week for "staking".

    Brave is basically the crypto browser that everyone knows about which can be elaborated on for an entire post but I won't. I did NOT want to stop using Google Chrome but Brave is based on the Chromium engine so you can practically just transfer all of your data from Chrome to Brave and it's like nothing changed. Except you get paid for its ads, which I averaged out to basically getting $5 a month for doing the same internet things you normally do.

    Shakepay is a Canadian exchange with a feature where you shake your phone everyday and get free satoshis. It's pretty great and as of today I've received 0.0007 BTC from the feature which nets to about $28. Just for shaking my phone once a day.

    Coinbase Earn is a feature on their exchange that basically tries to educate investors about specific projects but it's basically just answer a quiz and get free crypto. I converted it all to Algorand and sent it to my wallet. As of today it was a free $35.

    Mining Crypto is something that can be done on just your PC if your GPU is good enough. I used nicehash which is probably the most user friendly and hands off way for beginners like me to mine crypto for money. My GPU is a 2070 SUPER and I rarely play video games nowadays so It really was collecting dust. Instead I made use of it and let it mine crypto. Over the course of a few months I managed to casually mine 0.0033 BTC which is $133. For the most part I only turned it on when I was on my computer so I didn't leave it on 24/7.

    Reddit Moons I didn't want to talk about this but this post is for absolute beginners so feel free to look at the reddit moons wiki for more information. Basically I used the cryptocurrency subreddit as a way to read discussions, news, opinions which helped me build the foundation of my knowledge. If I had any questions I could ask and someone would answer. I got rewarded free crypto for engaging in discussion which is nice.

    Faucets are an extremely slow passive income source which I still use because why not? There are a huge list of them but I primarily use algorandfaucet since it's been the easiest and simplest one. I basically am getting half a penny a day but it adds up and I have over 1 Algorand just from using the faucet everyday.

    Crypto Visa

    Okay so I was most interested in crypto.com's ruby visa card, basically hold $500 of their native CRO coin and you'd be able to get a 2% cash back visa with the additional benefit of 100% rebate for Spotify.

    Here was my logic: Spotify is something I use on a daily basis. The cost of Spotify for me was roughly $133 EVERY YEAR. So in 5 years I would spend $665 on Spotify or $1330 in 10 years. If I invested in this crypto visa, I'd have all of that money back. In addition you can stake the CRO cash back for 13-14% APY instead of converting it back to fiat. Up to you. Basically this was enough incentive for me to get this card.

    Conclusion

    Now I come from a low income and frugal lifestyle so I really enjoy free things and little gains (just as much as I appreciate the conventional long-term investing gains). I know not everyone is in a financial situation where all of these small trivial gains is significant to them.

    Rough estimate of the amount of "free" crypto I have made is $470 and 4297 moons. I hope this post helps people get some confidence in getting into crypto.

    submitted by /u/F1014
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    ELI5: What makes Bitcoin valuable? What is Lightning Network? What is Taproot?

    Posted: 22 Jul 2021 01:55 AM PDT

    ELI5: What makes Bitcoin valuable? What is Lightning Network? What is Taproot?

    Alright, this is a long post. But hopefully, it is able to further your understanding of Bitcoin. At least, that's the goal!

    If you were new to cryptocurrency even 5 years ago, you didn't have much choice. Today, that's not the case, especially in a bull market, which is when a lot of newcoiners typically flock to this space.

    This post is intended to educate newcoiners, and perhaps some old HODLers as well, on what makes Bitcoin valuable, the Lightning Network and Taproot without overly complicating the conversation.

    What's so unique about Bitcoin?

    There's a common misunderstanding that Bitcoin has such great value because it was the first. This is untrue. There were several prior attempts at digital money - B-money, Bit gold and Hashcash (although not technically money) the most prominent among them. Satoshi's PoW algorithm solved a critical flaw in the use of blockchain as a public ledger known as the Byzantine Generals Problem.

    The concept of blockchain predates Bitcoin by almost two decades. So the value was never in blockchain but the way Bitcoin was able to utilize blockchain as a trustless, permissionless, decentralized public ledger to democratically create, distribute and exchange value.

    So centralized iterations of blockchain are indeed a waste of time. Permissioned protocols can often achieve greater efficiency using an SQL database instead.

    Another misconception among newcomers is that you're late to the Bitcoin party. Just as you can never be late to the Internet, you can never be late to Bitcoin.

    Bitcoin is not just a cryptocurrency. Bitcoin, in the broader sense, is a protocol capable of functioning as the network layer of a decentralized Internet. Bitcoin can therefore fix the Internet's original sin, centralization at the hands of a powerful few, and restore it to its original form - a decentralized P2P network protocol.

    Bitcoin is capable of remaining decentralized by allowing any participant in the network to access their own version of the truth in a very economical manner. You can run your own Bitcoin full node on a Raspberry Pi. This allows you to be an equal rights citizen on the network and not have to delegate trust to a third party. Without being able to verify on your own, you're just going from trusting bankers to trusting a random person on the internet. That's hardly revolutionary.

    Samourai Dojo Bitcoin Full Node on Raspberry Pi (cost $40)

    Bitcoin is not only time-tested but has proven to be doggedly antifragile. What makes Bitcoin antifragile is the ability of the average user to run a full node.

    There's no locus of power to attack. Every node is equal and they're distributed all across the world on every continent. Every quadrennial cycle, while higher profile individuals and entities attack Bitcoin, these attacks only end up effecting even greater faith in the protocol.

    Being a pure P2P network allows Bitcoin to withstand state attacks (Satoshi, 2008)

    Altcoins bring a lot of necessary innovation each cycle, more so since Ethereum came along, but the problem with open, unbridled innovation is that, while it engenders infinite possibilities, it also breeds exploitation and self-seeking greed.

    ICOs were all the rage 4 years ago. But thanks to exploitation, they've all but disappeared. The idea of crowdfunded development of decentralized protocols wasn't the problem. The problem was that without a native set of rules to prevent exploitation, greed defeats innovation.

    Just because something is possible doesn't make it necessary. What's truly necessary is impossible to stop. Necessary innovation will become impossible to stop once we are able to self-police cryptocurrency from greedy opportunists seeking to deny innovation a chance to thrive to cynically line their own pockets.

    Lightning Network

    Lightning Network is a decentralized layer-2 network protocol that uses a native smart contract scripting language to enable instant, almost feeless Bitcoin payments.

    On the Lightning Network, both parties to a transaction are required only to have a sufficiently funded open channel on the network. This is done through a single on-chain transaction.

    If there is a direct channel open between the parties, the transaction is routed directly and incurs zero fees. Without a direct channel, the transaction is routed through routing nodes.

    Whan a transaction passes through a routing node, it is referred to as a "hop". There are currently 23k nodes on the Lightning Network with 13k nodes having active channels.

    Three years ago, Lightning Network was admittedly far from ideal for everyday payments.

    Lightning Network Node Map (March 2018)

    But the network has seen exponential growth since, particularly this year. Lightning Network is now a fully-fledged global payments network secured by the Bitcoin blockchain. Lightning wallets have also come a long way and are now very intuitive to use for the average user.

    Lightning Network Node Map (July 2021)

    Network capacity has doubled this year. Likewise, nodes and channels have grown exponentially, reducing the number of hops and fees incurred for hops through routing nodes, and improving channel lifespan.

    The growth of the Lightning Network has inspired some exciting developments this year,

    Following the success of the Bitcoin beach project, a pilot for Lightning Network's viability as MoE, El Salvador has adopted Bitcoin as legal tender. Other countries like Tonga, Colombia and other LatAm countries have expressed interest to follow suit.

    Strike app has introduced a Bitcoin tab, with the ability to purchase Bitcoin for a nominal fee of a few cents through the Lightning Network.

    Twitter is expected to launch a tipping system on its platform later this year using the Lightning Network.

    Feeless payment of 1 satoshi sent from Spain to Tokyo (Bankers won't be happy!)

    Taproot

    Now with Lightning Network's maturation as an instant, almost feeless, infinitely scalable decentralized global payments network, Bitcoin is shifting focus to its next big milestone, Taproot, which is due to go live in November.

    Taproot brings a set of protocols that further enhance Bitcoin's scalability through even more efficient use of block space by introducing a new type of output - Pay to Taproot (P2TR).

    P2TR uses Schnorr signatures, which are more compact than the conventional Elliptic Curve Digital Signing Algorithm (ECDSA) signatures. Schnorr signatures are between 6 and 9 bytes shorter than ECDSA.

    An even more exciting aspect of Schnorr signatures is that it enables the aggregation of multiple signatures into a single signature. This opens up infinite possibilities, including being able to execute multi-sigs and L2/sidechain smart contracts as a simple regular transaction on-chain.

    It's a truly game-changing development, as it allows Bitcoin to have smart contract protocols without bloating the blockchain layer. Smart contracts will run on L2/sidechain protocols, but on the Bitcoin blockchain, they will only take up a small space like any other transaction.

    Further, Taproot also includes optimization for the Lightning Network called Point Time-Locked Contract(PTLC). PTLC replaces Hash Time-Locked Contract(HTLC). PTLC uses adaptor signatures, which enhance privacy and security on the Lightning Network, enabling escrow contracts in Lightning channels and allowing users to retry stuck payments.

    ​

    Curfew cocktail bar in Copenhagen, Denmark accepting Lightning payment

    submitted by /u/xcryptogurux
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    Dogecoin Gets Left Out Of S&P 243-Coin Crypto Index

    Posted: 21 Jul 2021 06:19 PM PDT

    So did Bitcoin just test a double bottom or is it a dead cat bounce?

    Posted: 21 Jul 2021 06:40 PM PDT

    My personal opinion, and this is not financial advice, is that it just tested a double bottom. I can't fathom, that with all the institutional interest, that it's going to go down to $20-$25K.

    What is your opinion?

    (please do not give financial advice)

    submitted by /u/8512764EA
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    45% of the ultra-rich are interested in crypto

    Posted: 21 Jul 2021 08:24 PM PDT

    SEC Commissioner Has Had It With Bitcoin ETF Obstructionists

    Posted: 21 Jul 2021 07:47 PM PDT

    JPMorgan Exec: Demand for Bitcoin is High, Most Clients See it as an Asset Class - we need more good news - Let’s go!!

    Posted: 21 Jul 2021 06:21 PM PDT

    If You See A User Without Moons’s Vault, Help Him!��

    Posted: 21 Jul 2021 09:38 AM PDT

    Hello Mooners,

    I was randomly scrolling and saw a post with like 10 comments, 4-5 are from users without Moons's Vault!

    They most likely don't know that Moons exist, so when you see a a user without without any number near his name, that means no Vault.

    Send them this link to open the Vault:

    https://amp.reddit.com/community-points/

    This is really important of we enter into new Market 📈

    Edit: Moons are ERC20 and can be traded, they worth real $ , trade Moons on MoonsSwap.com

    submitted by /u/mellon98
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    $1k invested into the Top Ten Cryptos in January 20210 - UP +184% (JUNE Update - Month 6)

    Posted: 22 Jul 2021 03:51 AM PDT

    $1k invested into the Top Ten Cryptos in January 20210 - UP +184% (JUNE Update - Month 6)

    EXPERIMENT - Tracking Top 10 Cryptos Of 2021 - Month Six – UP 184%

    You can see the full blog post with all the tables here.

    January 1st, 2021, I bought $100 of following and turned it into a homemade index fund: Bitcoin, Ethereum, Tether, XRP, Litecoin, Polkadot, Bitcoin Cash, Cardano, Binance Coin, and Chainlink. Below is the sixth monthly update on the progress of the 2021 Experiment. But first...

    WANT THE PRICE OF MOONS TO MOON?: Maybe try doing something with them! There's a hidden musical link below, what is it? 52 Moons to the first person to name the song, the artist AND where they come from. Why 52? That's worth about $5 (52\.095),* my way of encouraging the winner to go for a r/CryptoCurrency special membership. To give more people a chance you can't win if you've already won this month. And if you have a ton of Moons already, give it to someone else/be cool.

    And you're gonna need a Vault.

    super long tl;dr:

    • What's this all about? Back in January 2018, I made a homemade crypto Index Fund, purchasing $100 of each of the Top 10. Crypto winter started immediately after, but I haven't sold or traded and have been reporting monthly ever since. I repeated the Experiment 2019, 2020, and 2021 because I'm a glutton for punishment and to show different entry points. Learn more about the history and rules of the Experiments (including why in the world I would include Tether) here.
    • June Winner - Just Big T. BTC second place, down -9%.
    • Overall since Jan. 2021 - ADA holds on to slimmest of leads over BNB, LTC down near the bottom.
    • 2018+2019+2020+2021 Combined Top Ten Portfolios are returning 248%.

    Month Six – UP 184%

    https://preview.redd.it/w50xsvgdtqc71.png?width=1081&format=png&auto=webp&s=4d6dcd2539e70bf0101401debd44ca36963a2025

    Just like the other Top Ten Crypto Index Funds, the Class of 2021 finished June completely in the red. The total value of the portfolio fell nearly $1k since just last month.

    June Movement Report, Ranking, and Dropouts

    For such a down month, there wasn't a ton of movement with this group of cryptos:

    Ups:

    • Bitcoin Cash – up one place (#13–>#12)
    • Binance Coin – up 1 place (#5–>#4)

    Downs:

    • Cardano – down one place (#4–>#5)
    • Chainlink – down 3 places (#12–>#15)

    https://preview.redd.it/qjlph1vpuqc71.png?width=409&format=png&auto=webp&s=e396df0c90469f4a66b0cde46e8e9ef5ea7267ea

    Top Ten dropouts since January 2021: Six months into the 2021 Top Ten Experiment, three cryptos have dropped out: Chainlink, Litecoin, and most recently Bitcoin Cash. They have been replaced by UNI, DOGE, and USDC.

    June Winners and Losers

    June Winners – Besides Tether, Bitcoin outperformed the pack by "only" losing -9% this month.

    June Losers – Chainlink had a very rough month, losing -41% of its value in June. Second worst performing was Polkadot, down -36% this month.

    Tally of Monthly Winners and Losers

    Half a year into the Experiment, here's where we stand in terms of the 2021 Top Ten Portfolio's monthly winners and losers:

    https://preview.redd.it/u6ghvu1ruqc71.png?width=409&format=png&auto=webp&s=33185c4280a0d983936a5bbdaa61479d0984262b

    ADA and BNB tied for the lead with two monthly victories each, UST leads the losses column.

    Overall Update – ADA holds on to a slim lead, followed closely by BNB. All cryptos in green, Litecoin worst performing.

    After flipping Binance Coin last month, ADA continued to hold on to the slimmest of leads: it is now up +644% vs BNB's +640%.

    The $100 price I paid for ADA six months ago would be worth $744 if I sold today.

    Besides Tether, Litecoin is the worst performing cryptocurrency of the 2021 Top Ten Portfolio, up +7% in six months.

    Total Market Cap for the Entire Cryptocurrency Sector:

    https://preview.redd.it/m1m0iy3uuqc71.png?width=571&format=png&auto=webp&s=2bc82521aba52084072552fe2c867dd7c9997428

    After surpassing the $2 trillion dollar mark just two months ago, the crypto finished June around the $1.37T mark. Although down significantly in the last couple of months, the total market cap is up +78% since the beginning of the year.

    You may notice that the Top Ten are returning nearly double the overall crypto market cap. This is a bit of an anomaly: the rest of the Top Ten Experiments are well behind what the overall market has returned in the same time frames. Although the 2021 Top Ten approach has held up quite well compared to the overall market so far, I expect to see it fall behind eventually, like the other experiments.

    Bitcoin Dominance:

    https://preview.redd.it/ztymkvevuqc71.png?width=553&format=png&auto=webp&s=3d57d3c1244bb69c534d0878948320efb0513752

    BitDom bounced in June, up from a 2021 Experiment low last month. It currently sits at 45.3%.

    Overall return on $1,000 investment since January 1st, 2021:

    https://preview.redd.it/jysrg29wuqc71.png?width=355&format=png&auto=webp&s=c61b5f222886573002799bd02f7bacb9e81c7c59

    The 2021 Portfolio lost $968 in June. Overall, the 2021 Top Ten Portfolio is up +184%, the initial $1000 investment on New Year's Day 2021 worth $2,840.

    Here's the month by month ROI of the 2021 Top Ten Experiment, to give you a sense of perspective and provide an overview as we go along:

    https://preview.redd.it/t2ktkcv2vqc71.png?width=366&format=png&auto=webp&s=13d0a85ed2656bea60167ea4d775d0ca1c668f95

    This is the best start, by far, of any of the four Top Ten Crypto Experiments.

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

    As most readers are aware, this is the fourth year of an Experiment I started back in January of 2018, at the height of the last bull run. Where do we stand if we combine four years of the Top Ten Crypto Index Fund Experiments?

    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 $13,931 ($989 + $4,414 + $5,688 + $2,840).

    That's up +248% on the combined portfolio. Two straight down months for the combined portfolios, which is now back the combined value it held in February.

    Here's a table to help visualize the progress of the combined portfolios:

    https://preview.redd.it/k2wbbwr4vqc71.jpg?width=380&format=pjpg&auto=webp&s=e4c5a8e3110571e050aa417d07965ab4c176c571

    That's a +248% gain by investing $1k into the cryptos that happened to be in the Top Ten on January 1st, 2018, 2019, 2020, and 2021.

    Comparison to S&P 500

    I'm also tracking the S&P 500 as part of my experiment to have a comparison point to traditional markets. Yet another all time high in June:

    https://preview.redd.it/lbcxz676vqc71.png?width=460&format=png&auto=webp&s=4295ccfe3369f1e0871380ef70811c53c5106889

    The S&P 500 Index is up 15% in 2021. The initial $1k investment I put into crypto six months ago would be worth $1,150 had it been redirected to the S&P 500.

    The 2021 Top Ten Crypto Portfolio is up +184% over the same time period. Half a year in, the initial $1k investment in crypto is now worth $2,840.

    That's a difference of $1,690 on a $1k investment in six months.

    What about in the longer term? What if I invested in the S&P 500 the same way I did during the first four years of the Top Ten Crypto Index Fund Experiments? What I like to call the world's slowest dollar cost averaging method? Here are the figures:

    • $1000 investment in S&P 500 on January 1st, 2018 = $1620 today
    • $1000 investment in S&P 500 on January 1st, 2019 = $1720 today
    • $1000 investment in S&P 500 on January 1st, 2020 = $1340 today
    • $1000 investment in S&P 500 on January 1st, 2021 = $1150 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 $5,830 ($1,620 + $1,720 + $1,340 + $1,150)

    That is up +46% since January 2018 compared to a +248% gain of the combined Top Ten Crypto Experiment Portfolios, a difference of 202% in favor of crypto.

    To help provide perspective, here's a quick look at the combined four year ROI for crypto vs. the S&P up to this point.

    https://preview.redd.it/k2jlofx8vqc71.jpg?width=501&format=pjpg&auto=webp&s=d20a59074a820c5e2069d26c63a4ac81eba15905

    Conclusion:

    Even last month's savior Cardano couldn't save the 2021 Top Ten Portfolio from its first all red month of the Experiment. Still, this group of ten cryptos is performing extremely well, up +184% since the beginning of the year, and better than the crypto market overall. What's next for crypto is anyone's guess – we'll find out soon enough if red months become more of a pattern.

    To the long time followers of the Top Ten Experiments, thank you so much for sticking around so long. For those just getting into crypto, I hope these reports will help prepare you for the highs and lows that await on your crypto adventures. Buckle up, go with the flow, think long term, don't invest what you can't afford to lose, and most importantly, try to enjoy the ride!

    Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for my parallel projects tracking the Top Ten cryptos as of January 1st, 2018 (the OG Experiment), January 1st, 2019, and January 1st, 2020.

    submitted by /u/Joe-M-4
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    Cardano declares success with Alonzo white hard fork upgrade - Coin Rivet

    Posted: 21 Jul 2021 07:43 PM PDT

    Buy when the market is fearful, sell when the market is euphoric. This is the way.

    Posted: 21 Jul 2021 03:24 PM PDT

    Fear and Greed Index

    The market is hitting peak fear, and I believe a turnaround is eminent.

    We shall see, but history has shown us the best buying opportunities are during the most frightful of times.

    Good luck!

    submitted by /u/callebbb
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    To reduce the amount of scammers trying to message you from being subscribed to any crypto sub including r/cryptocurrency...

    Posted: 22 Jul 2021 12:13 AM PDT

    I often get private messages from scammers chancing their luck. But I saw some great advice posted by u/latteisnotcoffee - Go to: https://new.reddit.com/settings/messaging

    Turn chat requests to either 'Nobody' or 'Accounts' older than 30 days and you'll be able to avoid some scammers contacting you. Stay safe out there.

    submitted by /u/DrawingDragoon
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    Aping into new shitcoins? Learn how to spot a mint function.

    Posted: 21 Jul 2021 11:07 PM PDT

    Sniping new listings on Uniswap or Pancakeswap? Don't let anyone shame you, every so many times you get scammed, you can easily luck into a 10x, 100x, or better. You can also sometimes make a quick 2-3x on completely worthless coins if you get in early and don't get greedy.

    Still, don't get scammed! I've been learning through experience over the past few weeks, and while I am happy to report that I don't find myself getting rugged lately, I have been seeing others get rugged, and in many cases it is avoidable.

    I am not going to give a full tutorial, in part because there are various ways a dev can rug, I'm not even aware of all of them, and the bottom line is you should trust your instincts if something seems off. But there are easy checks that can be made prior to purchase - like checking for proof of locked liquidity. Luckily, everyone knows (most people know) by now to check for proof of locked liquidity before purchase. But can you spot a mint function?

    Well, for starters, do you know how to pull up the source code of a contract? If you aren't familiar with etherscan (or bscscan), use this link and replace the contract address:

    https://etherscan.io/address/0xa49f00260d8befd33455188bff174a67199f913d#code

    What does a mint function look like? Well, code wise minting is no different than transferring a token from one wallet to another; the exception is that the transfer happens from "address(0)" rather than from someone's wallet.

    Basically, a mint function looks something like this:

    function Reflect(uint256 amount) public onlyOwner {
    require(_call() != address(0));
    _totalTokens = _totalTokens.add(amount);
    _router[_call()] = _router[_call()].add(amount);
    emit Transfer(address(0), _call(), amount);
    }

    Note the "emit transfer (to,from,amount)" line - it is key.

    EDIT - I meant "emit transfer (from,to,amount)"

    A lot of standard contracts have internal mint functions, fittingly called "Mint." This isn't necessarily suspicious. All (or most) contracts call for minting in the 'constructor' section - this refers to the initial token generation.

    But if the contract contains a public mint function called "Reflect," chances are the "dev" is trying to decieve you, and plans to rug you. Locking liquidity means nothing if they can drain the liquidity pool anyways.

    Ownership was renounced? So what. I suppose the 'onlyOwner' modifier serves some purpose, but I have seeing lots of "devs" execute mint functions like this after renouncing ownership.

    Ctrl F is your friend!

    (sidenote, last week I observed this guy mint new tokens by burning zero tokens - I'm still curious to figure out how that worked)

    submitted by /u/ra_ncho
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    And Anyone Who Bought Yesterday Is Already Up Close to 10%

    Posted: 21 Jul 2021 06:51 AM PDT

    People need to calm down and relax. Crypto is a long term play, not necessarily a short term play. Anyone from 2020 and back who buys and holds has made money (minus the crap coins).

    If you can't handle the dips, delete your trading apps and take a break. Constantly checking crypto during choppy periods can be hazardous to your mental state.

    Also, just because we are up 5-10% today doesn't mean we won't go down 20% tomorrow so do t get too excited either. This is a roller coaster ride and we are still in the beginning. So sit back, put your straps on and enjoy the ride.

    submitted by /u/JazzyJayKarr
    [link] [comments]

    Robinhood Crypto Arm to Pay $30 Million Fine After Anti-Money Laundering Probe

    Posted: 21 Jul 2021 02:12 PM PDT

    Vitalik Buterin’s surprise cameo in Ashton Kutcher and Mila Kunis’ living room

    Posted: 22 Jul 2021 12:06 AM PDT

    What are your thoughts on all of the Crypto.com partnerships?

    Posted: 21 Jul 2021 11:17 PM PDT

    I've been following Crypto.com for a while and have seen them make a lot of promotions in the past month or so. The big ones being F1 and UFC. I think this is good for the entire crypto market but am wanting to hear all of your thoughts on this. Any constructive discussion is welcome.

    submitted by /u/Garrus1712
    [link] [comments]

    Natwest is now banning transactions to Binance!

    Posted: 22 Jul 2021 03:41 AM PDT

    I just received this text message:

    "With an increase in scams relating to cryptocurrency and regulatory uncertainty around Binance in the UK, we want to make sure your money is safe. That's why we'll be declining all credit and debit card payments to them until further notice."

    Time to change bank!

    submitted by /u/havikajb
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    Imagine if Instagram, Facebook, Twitter created their own cryptocurrencies, everyone would go mad! Reddit has done it, yet everyone is sleeping on it.

    Posted: 21 Jul 2021 04:55 PM PDT

    Imagine if these mainstream social media platforms created their own native tokens that have actual financial value and can be used by their users to tip each other and is generated by proof of engagement. Hmmm... Sounds familiar?

    Bingo! We've reddit issued tokens such as moons, bricks and donuts. Been more than a year since existence and yet the internet as a whole is sleeping on it. Actually forget the whole internet, our own subreddit is sleeping on it. Less than 100k vaults have been opened when we have more than 3.2 million users in this subreddit.

    Maybe it's Reddit's fault for not promoting these projects enough. However, if you're reading this and still haven't set up your vaults. Please do so and earn your free crypto.

    They will blow up one day.

    submitted by /u/ultron290196
    [link] [comments]

    Tether’s Direction Says a Full Audit is Coming Soon

    Posted: 22 Jul 2021 03:14 AM PDT
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