Cryptocurrency Daily Discussion - July 3, 2021 (GMT+0) |
- Daily Discussion - July 3, 2021 (GMT+0)
- Identifying a scammer who has stolen millions
- A brief rundown of the top 50 coins by category
- Yesterday I tipped 100 moons to the moonless and 2 things became apparent...
- "There is no bottom!" Some thoughts on my rather lucid experiences at two crypto price bottoms
- One day commenting in this sub, nine scam attempts. Here’s what to look out for.
- Bitcoin now has roughly the same number of users that the Internet had in 1997, and it’s growing at a much fast rate. In the next 4 years at this pace, adoption will reach levels the internet saw in 2005.
- It's so weird as someone with a 100% alt coin portfolio, all I can focus on is Bitcoin.
- A Summary of “Why Proof of Stake” by Vitalik Buterin
- A super useful website to help understand the market cap potential of alt coins!
- The Moneyfest Hypothesis on I O T A
- Stellar Lumens are awesome, and almost too useful. Great for circumventing fund transfer delays on exchanges.
- Looking for someone who could benefit from moons
- Smart investors don’t just buy dips, they dollar-cost average
- On Saturday, July 3, Bitcoin's network’s mining difficulty will see the largest epoch drop in history as the difficulty is set to slide by more than 27%
- Bought a shitcoin. Almost got a heart attack.
- JP Morgan Eyes Ethereum Staking as ‘Fast Growing Revenue Opportunity'
- My boss thanked me because of crypto and may give me a raise
- What are some overrated coins that you think investors should avoid?
- Serious discussion. Anyone else thinks this is peak adoption?
- Grayscale Adds Cardano to Its Digital Large Cap Fund
- The moment I open my eyes I pick up my phone and check my crypto ��
- Algorand Governance Referendum has passed and will begin on October 1st
- Could the mods or anyone else enlighten me about the future of Moons?
| Daily Discussion - July 3, 2021 (GMT+0) Posted: 02 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:
Useful Links:
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| Identifying a scammer who has stolen millions Posted: 03 Jul 2021 12:40 AM PDT {A friend asked me to post this to protect his identity} Alright first, I just want to say that Reddit is very much interesed in keeping the scammer's identities hidden. My previous post were removed because I disclosed the scammer's identity. Does everyone WANT to get scammed? Here I am trying to bring him to justice and my posts get removed due to some stupid rules. Anyway, now, I will be telling you exactly how to figure his identity out yourself. If the scammer is reading this, he's probably laughing at me. No wonder a decentralized message board platform is desperately required. This person has been involved in fraud amounting to multiple millions. Initially, I came across this website: https://ocen.network/ Knowing it was a pre-sale scam, I ran metadata analysis on each file using https://exiftool.org/. The litepaper displayed the name "XXXX XXXXX XXXXXXXXX" as the author. To prove that I did not alter the original documents, please check the link below, download the litepaper and run exiftool on it. Web Archive: https://web.archive.org/web/20210625185716/https://ocen.network/ Amount he's currently hoarding to steal: https://bscscan.com/address/0x4d50471035d65810cdb9b34550d46b31bf398cb8 At time of writing, it holds over 24000 dollars. Once withdrawn, the addresses where he received the money can be seen under "Internal Tnxs". Head to: https://bscscan.com/token/0x4d50471035d65810cdb9b34550d46b31bf398cb8#comments You'll see someone accusing him of being involved in https://e-usd.network scam. Web archive: https://web.archive.org/web/20210630184809/https://e-usd.network/ Here he withdrew near about 3500 BNBs: https://bscscan.com/address/0xa1fd12820f0c1c492dd87f8a0d12043d8f24f8a6#internaltx Both the websites are an exact replica. And running metadata analysis, you can see that both websites were originally designed by a certain developer called M_Adnan whose code from https://themeforest.net/user/m_adnan was used for illegal use. I urge all crypto trading platforms to freeze his assets. Currently he's involved in another project https://moonvest.network/index.html. webarchive: https://web.archive.org/web/20210630162427/https://moonvest.network/ He has publicly stated in Linkedin that he's involved in moonvest network, so putting its whitepaper through exiftool shows the exact same author "XXXX XXXXX XXXXXXXXX" and both the whitepapers look exactly the same. Report him to the authorities: USCIS, FTC, SEC, FBI, Seattle Police, all crypto trading platforms, Amazon(his employer), etc. [link] [comments]  | ||
| A brief rundown of the top 50 coins by category Posted: 03 Jul 2021 04:27 AM PDT Currency The primary function of these coins is to be used as a decentralised token of value which can be exchanged between peers without the need for banks or other intermediaries. (1) Bitcoin (BTC) (7) Ripple (XRP) (13) Bitcoin Cash (BCH) (14) Litecoin (LTC) (21) Stellar (XLM) (31) Bitcoin SV Stablecoins These coins use various methods to peg their value to that of the U.S. Dollar, thus allowing them to be used as both a store of value and a medium of exchange without the risk of volatility, (3) Tether (USDT) (8) USD Coin (CSDC) (10) Binance USD (BUSD) (23) Dai (DAI) (48) Terra USD (UST) Distributed computing / smart contracts These are coins tied to a network which provides a distributed, decentralised blockchain network, which apps can then be built upon. Some of their features include smart contracts, non-fungible tokens, digital identity and decentralised finance. Having a coin tied to the blockchain enables users to be paid for securing the network and to pay for using the services provided by the network. (2) Ethereum (ETH) (4) Cardano (ADA) (5) Binance Coin (BNB) (13) Solana (SOL) (18) Ethereum Classic (ETC) (25) Tron (TRX) (27) Eos (EOS) (32) Algorand (ALGO) (36) Neo (NEO) (38) Klaytn (KLAY) (39) Tezos (XTZ) (43) Iota (MIOTA) (46) Avalance (AVAX) Exchange tokens These coins are associated with an exchange and holding them allows people using that exchange certain benefits, such as reduced fees or staking rewards. (5) Binance coin (BNB) - also listed above (10) Uniswap (UNI) (30) Crypto.com coin (CRO) (33) FTX token (FTT) (37) PancakeSwap (CAKE) (44) Unis Sed Leo (LEO) (50) Huobi token (HT) Privacy coins Coins attached to blockchains which aim to provide anonymity to users and conceal their activities. (26) Monero (XMR) Decentralised finance These coins provide various functions/benefits in the DeFi ecosystem, such as lending, earning interest or collatorising assets. (29) Aave (AAVE) - decentralised finance protocol (34) Maker (MKR) - stablecoin pegging mechanism for DAI (41) Terra (LUNA) - stablecoin pegging mechanism for UST (42) Amp (AMP) - collatoralising asset transfers (45) Compound (COMP) - DeFi lending protocol Specialised coins These are coins/blockchains that perform a specialised function not covered in the above categories. (9) Polkadot (DOT) - network of blockchains (15) Chainlink (LINK) - Oracle network providing data to blockchains (16) Polygon (MATIC) - Layer 2 ethereum solution (19) Internet computer (ICP) - Decentralised cloud computing (20) Theta (THETA) / (47) Theta Fuel (TFUEL) - improves video streaming services (22) VeChain (VET) - business supply chain management (24) Filecoin (FIL) - decentralised storage solution (35) Cosmos (ATOM) - network of blockchains (49) Decred (DCR) - decentralised voting platform Wrapped bitcoins These are representations of bitcoin on other blockchains. Their prices are pegged to the price bitcoin. (17) Wrapped bitcoin (WBTC) (40) Bitcoin BEP2 (BTCB) Memecoins Coins that were created as a meme or for fun. (6) Dogecoin (DOGE) (28) Shiba Inu (SHIB) [link] [comments]  | ||
| Yesterday I tipped 100 moons to the moonless and 2 things became apparent... Posted: 03 Jul 2021 07:45 AM PDT I was tipped my first moon a couple of months ago and it felt awesome! So yesterday I figured I would tip out moons to people that didn't have any. Two things became apparent #1 about half the people commenting did not know what a moon even was #2 a lot of the people commenting did not know they had to unlock their vault. If you just comment "what are moons" a bot will give you a link to a detailed description of what a moon is and how to set up your vault (which is an eth wallet). I will actually comment below and spawn the bot for those who want to learn about moons/vault. A few people activated their vault just to discover they already had some moons. I hope this helps a few people. [link] [comments]  | ||
| "There is no bottom!" Some thoughts on my rather lucid experiences at two crypto price bottoms Posted: 02 Jul 2021 06:19 PM PDT Perhaps this post is coming a bit late and the bottom is already in, perhaps not, but regardless at some point there will be a bottom as the market continues on its inexorable ascendancy (to the moon etc) Ruminating over the last few years in crypto I thought I would give some thoughts on my personal experiences on two significant crypto bottoms - the 2018 bear market bottom and the late 2019 bottom. Missing from this is the March 2020 Covid bottom (I was up in the mountains on a work retreat with no internet - a saving grace I guess) and the dreadful 2014 bottom (I paper handed my crypto well before that point). 2018 - BTC falls to $3,100 The first thing I will say is this. What seems to be universally accepted as the bottom is often not, and when we actually bottom, the crowd all thinks we are going lower. And when I say "the crowd", I don't just mean retail buyers but all the professional traders, charters etc. There is even a Tone Vayes video out there where he says "the most likely scenario is a fall to $1,300". One observation here is that every man and his dog (or should I say Shibu Inu?) and buys set laddering down. Most people (including myself) had buys at $2,800, $2,400, $1,800 and $1,300. Much like $28,000 now, $2,800 was seen as a foregone conclusion (I currently have buys set down to $18k by the way). Another observation was that previously it had seemed almost accepted that $5,800 or so was the real bottom. Once that collapsed nearly 45% or so, suddenly everybody doubted themselves and assumed they were perpetually wrong. And yes there was a lot of depression and even embarassment. Oh how the media crowed in delight at the downfall of bitcoin. "Bitcoin is the worst performing currency except the Venezuelan Bolivar!" proclaimed our local paper (note how it IS a currency when they want it to be). I literally dreaded going to Christmas because my family (who are obsessed with property) would all be asking me how my bitcoins were going (my Mum literally calls them "bit corns" which is kind of funny). And of course my Uncle who is a multi-millionaire with a dozen properties laughed and said "well at least you bought a property so that was one sensible thing you did". (It was literally your nightmare scenario where there are 30 people on a giant table in a giant mansion, and I'm on the end, and all my cousins and aunties and sisters etc all swivel their heads immediately like lightning as quickly as possible to photographically memorize the image of my soul leaving my body). The other thought was how absolutely PAINFUL it was to buy crypto. Especially alt coins. There may as well have been acid entrenched nails embedded into the keyboard when I clicked buy. And when you look at the prices (check CMC historical snapshot around Dec 15 2018) just look at those bargain basement prices - literally life changing money right there. And god forbid actually telling anyone you were still buying. And now think back and imagine people had four months to buy bitcoin in the 3ks, BNB below $10, ADA for a couple of cents etc. And then at some point we entered a "boring phase" (a bit like now) when nobody seemed to really, every pump was assumed to be a fake out. Then suddenly, like a button was pushed (it was actually 5:15 pm, NZT on our April 2) the market jumped 22% in one hour - BTC went from $4,200 to $5,215 and that was the end of the bear market forever. Personally I DO feel like our recent bottoms (around $30k with a wickdown) is reminiscent of that period - in fact, divide the price by ten, look at the charts, and its actually fairly similar price action. So the lesson here is that the bottom is never seen as the bottom which I find interesting because on twitter there literally calls for 12k or even 3k! 2019 - Bitcoin falls to $6,500 So in 2019 the bear market finally ended and something incredible happened. Bitcoin went from $4k to $14k or so in just a couple of months. We all thought we were entering a hyper bull run, Facebook announced project libra and we were going straight to the moon. What we didn't know was that a Chinese scam called Plus Token was causing millions of people to fomo into buying up BTC, and that they would exit scam at the top and start dumping their tokens for six months (I really hope those two African guys that ran off with 3.6 billon of BTC don't do the same thing!) And then we dumped, and dumped, and keep perpetually dumping all the way down to 7k. Yes, another 50% fall! They do happen without a new bear market starting. My boss would say to me "How is bitcoin going? Oh its down that much? So that's a 50% drop isn't it? Good then back to work and don't waste your time on that crypto thing" (forgetting that I have dozens of crypto clients etc) We then had our rally relief when President Xi literally mentioned the word blockchain and it sent bitcoin up 42% in around 7 hours (I remember the top at $10,300 vividly as I had promised my wife I would attend an art exhibition on Danish furniture so instead of selling the top and taking profit I was looking at strange colored chairs). And then.... we dumped and dumped some more! So aside from the "xi pump" we had six months of perpetual dumping and then once $7k was lost the slide accelerated. Again, I vividly remember the exact bottom. I had crashed my car so had to take a taxi back home. I was browsing telegram at around the $6,500 bottom at the end of 2019, and one of my trader friends (who is fairly experienced and a bit of a whale) exclaimed "THERE IS NO BOTTOM". And sure enough, that was the exact bottom. The moment that psychologically you feel you MUST SELL RIGHT NOW. Just like at $65k, $20k, $1.3k and all other generational tops you feel like taking out a giant mortgage or selling the house to go all in (I sold my entire share portfolio to buy a Raydium / Solona farm when BTC was $52k so I can relate). So this bottom was quite different to 2018 as there was just six months of dumping instead of a single massive collapse in price (again, blame plus token here). But like now, we again had a "boring" period where we were stuck around $7k, people stopped checking the prices and started enjoying Christmas etc and all the mania and excitement was gone. So maybe one day I'll write this again and add 2021 to the list. Maybe I'll add 2023 or something as well. But there either has been a bottom or there will be at some point. Stick around and consider it another medal to add to your collection, or a story for the grandkids! While in late 2018 you felt ashamed to even mention bitcoin, now I like to talk about the great bear market like I'm some old war vet talking about my experiences of Operation Market Garden and the battle for Arnhem Bridge. EDIT: Perhaps I should add one more thing that may be useful with regard to the current market. For all of the bottoms (including the Covid Crash) I feel there are three distinct emotional states:
I feel like maybe we are starting to get to the third phase. Certainly I'm checking the prices a lot less and volumes are a bit down (and I dunno, maybe I have a bit of a sixth sense now after all these years. I even avoided buying Titan Finance at the last minutes, and bought and sold Safemoon at its top. And hey, BTC is up $1000 since this post at least!) [link] [comments]  | ||
| One day commenting in this sub, nine scam attempts. Here’s what to look out for. Posted: 03 Jul 2021 05:50 AM PDT Been reading and upvoting posts here for a little while, and I made my first comments yesterday. The result: nine chat requests from scammers in one day. I messed around with the first couple, then just hit "ignore" on the rest. Wanna know if that new message is a scam attempt? Here are some keywords to look out for: "Forex" "Trading" "Bitcoin" "10x" "Telegram" "How ya doing?" "The" "Hi" That's right: any word in a chat is a scam keyword. Stories of people getting scammed make me really sad. Don't be that guy or gal. It's safe to assume that 100% of people who contact you are trying to move your coins from your wallet to theirs. Be safe. [link] [comments]  | ||
| Posted: 03 Jul 2021 07:21 AM PDT
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| It's so weird as someone with a 100% alt coin portfolio, all I can focus on is Bitcoin. Posted: 02 Jul 2021 05:32 PM PDT If it gets under $28.8k then basically I'm fucked apparently. Or if it goes over $x amount then btc will go on a rampage and take all the alts with it. Happy days. Everything hinges on Bitcoin, if it loses its support then all the alts tumble. Or if it gets above a certain amount then all the main alts will start increasing with it resulting in alt coin utopia. It's got to the point where it doesn't really matter if you DYOR. Many projects are great in their own right. ZIL, MATIC, VET, ALGO, XTZ, SOL, ONE, the list goes on. Each with their passionate developers trying to make their technology the best it can be. But ultimately the value of their work is down to bitcoin. At any point however good their latest innovation is, their market value plummets as soon as something or "someone" makes the price of bitcoin change, then suddenly everything else changes too. It's ridiculous tbh. My portfolio is pretty much either red or green from top to bottom. All these alt coins. A sea of green or red all dependent on bitcoin. [link] [comments]  | ||
| A Summary of “Why Proof of Stake” by Vitalik Buterin Posted: 03 Jul 2021 06:29 AM PDT This is my attempt to summarize a recent blog post by Vitalik Buterin. This is a learning exercise for myself and critiques are welcome. If you feel something can be summarized better, please comment. Link to the article - November 2020 3 Reasons by Proof of Stake is better for blockchain security than Proof of Work 1) More Security for the same cost
2) Attacks are easier to recover from in Proof of Stake
3) Proof of stake is more decentralized than ASICs
Possible advantages of Proof of Work
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| A super useful website to help understand the market cap potential of alt coins! Posted: 02 Jul 2021 11:33 PM PDT Huge shout out to u/lovinglyhandmade who created this website and wonderful tool! This website really helps to understand a cryptocurrency's market cap and is a great tool to help in understanding the relative size and the potential upside of different coins! Example: "if coin X had market cap of coin Y, it would be worth $Z" https://thecoinperspective.com/?c=NANO Features:
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| The Moneyfest Hypothesis on I O T A Posted: 03 Jul 2021 07:23 AM PDT
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| Posted: 03 Jul 2021 08:06 AM PDT Hello fellow crypto zealots. I have a personal observation on XLM. It is so useful for moving money between exchanges and wallets that I have a lot of trouble holding it. I first bought into XLM at around 10 cents, but was never able to hold it for long. It's so fast and cheap to move it. For example, I use Coinbase pro to purchase assets and there is a waiting period from the time I deposit my fiat, to the time I can move my new assets to my wallet. When I purchase a coin I want to stake immediately like ATOM or ALGO, I just transfer an equal value of XLM from my wallet back to the exchange. This allows me to bypass the waiting period and start staking my new coins instantly. Then when my deposit clears, I just move it back for almost nothing, instantly. I'm sure a lot of you do this, but I felt like I discovered fire the first time i thought of this and wanted to share it. I am bullish on stellar and think it's future is bright, even if it has been moving sideways for a bit. I still find it so useful that it is difficult for me to leave it alone. [link] [comments]  | ||
| Looking for someone who could benefit from moons Posted: 03 Jul 2021 08:02 AM PDT Attn: mods - sorry for irrelevant flair not sure what this falls under I typically give my moons out to people who mention they're living in situations where even a few usd could make a huge difference in their lives. I havent been as active on the sub recently as my business has really taken off and I havent come across any good candidates for my meager amount of moons. So please, if youre living somewhere moons actually make a difference, id love to give them to you. Comment below, and perhaps moon rich people will help you out, who knows? Thank you and I love you all [link] [comments]  | ||
| Smart investors don’t just buy dips, they dollar-cost average Posted: 03 Jul 2021 05:32 AM PDT
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| Bought a shitcoin. Almost got a heart attack. Posted: 03 Jul 2021 09:36 AM PDT I put 0.01BNB each in some shitcoins a month ago. Get and forget. I check my wallet today and i see 8 zeros. Immediate palpitation. I was already in the process of making a "help me cash this out please" post when i found their week-old tweet saying "CMC and Trustwallet seem to be displaying the incorrect price for Phoenix. It is a glitch unfortunately." What a ride. During old days of casual playing lotteries i always imagined how would i feel if during numbers reveal mine would match. [link] [comments]  | ||
| JP Morgan Eyes Ethereum Staking as ‘Fast Growing Revenue Opportunity' Posted: 02 Jul 2021 02:13 PM PDT
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| My boss thanked me because of crypto and may give me a raise Posted: 02 Jul 2021 07:14 PM PDT So yesterday my boss came to me and thank me for my hard work. How I have been a ideal employee as I have been staying in late at work and doing such a fantastic job with the work handed to me. He even suggested that he will bump up my salary if I continue. This is all thanks to crypto! Why you may ask? Well, this is how my work goes. I go in and finish everything as soon as I can and then start looking at those charts. I look at them and I pray to them, ask the crypto gods not to make my portfolio bleed like there is no tomorrow. Count the gains I would have made if I sold some during the ATHs. Go to the washroom and cry my eyes out. Then back I go and stare at the charts. I lose track of time every day and end up leaving a lot later than the others. I get in some ways the crypto gods have listened to me, they did nothing to my cryptos but helped me with my fiat. I have to go now, it's time I use the washroom stall and cry my eyes out. [link] [comments]  | ||
| What are some overrated coins that you think investors should avoid? Posted: 03 Jul 2021 08:31 AM PDT Whether it's a controversy, tech that doesn't meet expectations, poor tokenomics, or just that you think it won't stand the test of time, what are some projects that you think are overrated and should be avoided? I think for most people on this sub meme coins like Doge and Shib will come to mind, so for the sake of discussion let's try to avoid the low-hanging fruit and assume those are a given. [link] [comments]  | ||
| Serious discussion. Anyone else thinks this is peak adoption? Posted: 03 Jul 2021 06:58 AM PDT I feel like we're not early anymore. I've been mining and trading since 2013 and the difference between then and now is night and day. Now the richest man in the world tweets about meme cryptos everyday. Companies have crypto on their balance sheet. Exchanges are legitimate and going public. You have savings account in crypto. In 2013, this is what you dreamt of when you thought about adoption. We reached that point. Now crypto is not niche or secret or emerging. Of course there's room to grow but we'll never reach 100% adoption. No tech has ever reached that. Even the internet is at something like 60% adoption all around the world. So what do you think? [link] [comments]  | ||
| Grayscale Adds Cardano to Its Digital Large Cap Fund Posted: 03 Jul 2021 04:43 AM PDT
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| The moment I open my eyes I pick up my phone and check my crypto �� Posted: 03 Jul 2021 03:43 AM PDT It's extremely addicting and I love absolutely immersing myself in the crypto world and the various coins. Seeing the various coins I stake earning interest, no matter how small it may be is a great feeling. Have a great day all ✌️ [link] [comments]  | ||
| Algorand Governance Referendum has passed and will begin on October 1st Posted: 02 Jul 2021 03:27 PM PDT
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| Could the mods or anyone else enlighten me about the future of Moons? Posted: 03 Jul 2021 08:37 AM PDT I get the impression that Moons being an ERC20 token is just a stepping stone, and that there a big plans for the coin. I have some questions I think others are interested in as well: Will it eventually be on its own block chain or at least on something else with lower fees? Will there be a push to get it on notable exchanges? Will there be an expansion to other subreddits? This way the tipping economy could really thrive. Thankful for any input anyone might have on Moons' future. [link] [comments]  |
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