Cryptocurrency Daily Discussion - July 31, 2021 (GMT+0) |
- Daily Discussion - July 31, 2021 (GMT+0)
- A thread of *just fucking don’t*
- 32% of Nigerians have Interacted with Crypto in the Last Year, Using it to Bypass the Corrupt and Expensive Nigerian Financial System
- Pro-tip: If you ever attain significant wealth, and actively plan to use crypto out in the wild, have 2 burner wallets.
- Bitcoin Whales Acquire Staggering $5,200,000,000 in Bitcoin in Just 28 Days
- Bitcoin Shoots $42,000 As $45 Billion Asset Manager GoldenTree Starts Buying
- Is BTC Pulling a 2013 on Us? (Some Hopium)
- $100 million shorts liquidated in the last hour
- Bitcoin critic Elizabeth Warren is a virtue-signaling political chameleon and a barefaced hypocrite
- Mastercard CEO: Mastercard Has to Be in the Cryptocurrency Space because the People Demand it
- What is the difference between a coin and a token?
- Jack Dorsey wants Bitcoin as the “native currency” of Twitter - TechHQ
- BTC has had 9-green days in a row three times before. And every single time,it has mooned to the core.
- What's the stupidest thing you heard someone say about cryptocurrency?
- Regardless if you view moons as a shitcoin or not, we have to give it up to reddit for making it easier for the average person to aquire some crypto.
- Axie Infinity is pretty boring
- Cypherpunks Prove Bitcoin Works Without Internet via Ham Radio, Satellite, Mesh Networks
- Happy sixth anniversary, Ethereum
- My parents told me not to invest in crypto because it was risky, I showed them this graph and they changed their mind
- MicroStrategy reported a paper loss of roughly $700 million on its BTC investment in Q2 2021 but vowed to continue purchasing more coins
- What makes this Moon Round different [Chart]
- Privacy is the most undervalued human right
- I wish the coins and tokens had more movement freedom rather than following Bitcoin's price action 90% of the damn time
- Telling people that you own crypto... good or bad?
- Complete Beginner's Guide to Cryptocurrency Wallets 2021
- Moment of silence for folks like me who bought ICP at $750
| Daily Discussion - July 31, 2021 (GMT+0) Posted: 30 Jul 2021 05:00 PM PDT Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: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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| A thread of *just fucking don’t* Posted: 30 Jul 2021 03:05 PM PDT
There's more but these are the absolute basics, if I get too in depth we'll end up in a debate about the few times it can pan out. [link] [comments]  | ||
| Posted: 30 Jul 2021 03:52 PM PDT
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| Posted: 30 Jul 2021 05:24 PM PDT DO NOT walk around with your 6 or 7 figures wallet on your phone. For the love of God buy a hardware wallet, or other form of cold storage. Reason for the 2 fake wallets: If anyone out in the world knows or even thinks you may have Bitcoin or crypto on your person, they'll know what it's potentially worth. They hold you up, they know what they're doing, and demand passphrases. You give them one that is an obvious burner, with low amounts. They get wise and ask for your whole balance. Enter fake wallet number 2. You get off easy. Hell, make a 3rd one. But 2 should suffice. *edit: grammar [link] [comments]  | ||
| Bitcoin Whales Acquire Staggering $5,200,000,000 in Bitcoin in Just 28 Days Posted: 30 Jul 2021 04:51 AM PDT
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| Bitcoin Shoots $42,000 As $45 Billion Asset Manager GoldenTree Starts Buying Posted: 30 Jul 2021 07:06 PM PDT
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| Is BTC Pulling a 2013 on Us? (Some Hopium) Posted: 30 Jul 2021 06:19 PM PDT
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| $100 million shorts liquidated in the last hour Posted: 30 Jul 2021 02:10 PM PDT Nearly $100 million shorts have been liquidated over the last hour (https://www.bybt.com/LiquidationData) leading to the large rise in price. BTC is heading towards its 10th daily green candle. I went back as far as Dec 2013 and couldn't see any 10 daily green candle consecutively (correct me if I'm wrong). We could be making history tonight and we'll all be apart of that. Edit: as pointed out the highest is actually 13 candles back in December 2011, 11 candles back in September 2012 and an another 10 candle movement in Oct 2013. (I've checked these on the BITSTAMP chart) [link] [comments]  | ||
| Bitcoin critic Elizabeth Warren is a virtue-signaling political chameleon and a barefaced hypocrite Posted: 31 Jul 2021 01:57 AM PDT
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| Mastercard CEO: Mastercard Has to Be in the Cryptocurrency Space because the People Demand it Posted: 30 Jul 2021 03:55 PM PDT
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| What is the difference between a coin and a token? Posted: 30 Jul 2021 07:54 PM PDT This is something that I have just learnt recently and I hope this post will be informative for you all. What is a coin? Coins refer to cryptocurrencies built on their independent blockchain network. The most well-known example is Bitcoin (BTC), which is also the world's largest cryptocurrency. Bitcoin is powered by its native blockchain network. Similarly, Litecoin (LTC) and Ethereum (ETH) function on their respective blockchains. These blockchains may differ in their size, rules, miners, performance, etc. How are digital coins used? Digital coins are designed to serve the same purpose as physical coins: transfer of value. In the crypto ecosystem, digital coins enable the transfer of payments. Digital coins also store value directly linked to their demand and supply. Therefore, the value of digital coins is often volatile. There are a few exceptions to this, though. For instance, stable coins. What is a token? Tokens refer to cryptocurrencies that don't have a blockchain network of their own. Instead, these cryptocurrencies are built on another blockchain. Users can create digital tokens using one of the many platforms in the DeFi (Decentralized Finance) ecosystem. Ethereum is one of the most popular choices, thanks to its support for smart contracts. Most of the digital tokens found today are ERC-20 tokens since the Ethereum platform easily enables creating tokens on top of the Ethereum blockchain. Currently, thousands of tokens exist in the market. Tether (USDT), USD Coin (USDC), DAI, UMA, and Basic Attention Token (BAT) [use Brave Browser to get some free BATs] are some of the commonly-used digital tokens out there. These tokens may have powers other than value transfer. How are digital tokens used? Much like digital coins, tokens also allow the transfer of value. However, in most cases, a digital token does have some extra power than being a medium of payment. Anyone can create digital tokens to fulfil specific functionalities. For instance, a privacy-focused Brave browser uses the Basic Attention Token (BAT) to reward its users for browsing the web. Customers get paid in BAT when they view advertisements from publishers who have partnered with the Brave browser. Who doesn't like free crypto? Different types of digital tokens exist for various purposes:
Some services create payment tokens to get rid of intermediaries as well. In most cases, the customer would be rewarded for using these tokens over a traditional payment method. Compared to building a coin from scratch, creating a token through the Ethereum platform would take considerably less time. Token Vs. Coin — The core differences To conclude, some of the main differences between a digital token and a digital coin are as follows:
Digital coins are mostly distributed through mining, while tokens became popular through ICOs. TLDR: Digital coins are based on their native blockchain network, tokens are built on the existing blockchain. Digital coins can be used for processing payments, but tokens are suitable for multiple needs. Digital coins are more difficult to create than tokens that can be built based on the existing blockchain like Ethereum. Hope this has been helpful for you guys! [link] [comments]  | ||
| Jack Dorsey wants Bitcoin as the “native currency” of Twitter - TechHQ Posted: 30 Jul 2021 11:36 PM PDT
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| Posted: 31 Jul 2021 01:31 AM PDT Bitcoin has closed NINE (9) green days in a row. This has only happened three times in the history of Bitcoin. Every time, it was followed by a face-melting bullrun.
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| What's the stupidest thing you heard someone say about cryptocurrency? Posted: 30 Jul 2021 08:48 PM PDT The amount of people who are too lazy to research about the topic and prefer to make assumptions off of thin air is immense. I heard one person say "Bitcoin is worth a lot cause its physically heavy" and that right there made me lose a few brain cells. [link] [comments]  | ||
| Posted: 30 Jul 2021 11:58 AM PDT They help with adoption. They help people who aren't quite computer literate having an easier time getting into crypto. It's as simple as DL Reddit app, join the sub activate the vault and all the work is done for you after that. I myself am very knowledgeable, I started programming 28 years ago. Even so it was tedious the first time trying to buy with all the verifications, long Pws, PKs etc. I can easily see how this would make the average Joe a bit ... apathetic? So I have to give it up to reddit on this one centralized or not. Regardless of where this goes as far as price, it's helping people adopt crypto, and that helps the price on whatever other crypto you're holding. It boosts the entire market. [link] [comments]  | ||
| Axie Infinity is pretty boring Posted: 30 Jul 2021 11:50 PM PDT I was super excited to start playing Axie Infinity and potentially earn some $ for myself and to maybe see my initial investment of $1200 grow as the popularity of the game rises. I just can't help but believe that it's a major bubble. The game is kinda boring. It's like Hearthstone but not nearly as fun. The PVE missions are so repetitive that it feels like a chore to grind my 100 SLP for the day. You do the same attacks and strategy over and over. I will say that there's a little flexibility when it comes to strategy but I honestly don't feel like putting in the effort when I'm just grinding PVE. PVP is a little more fun because I like the competition but even that gets boring after a couple of rounds. A new, more fun game could come in and wipe AF out. I'm no expert but I feel like this is likely. I understand that it's changing the lives of many people in the Philippines and people in the US are making a nice chunk of change from playing but I just feel like something's gotta give. Surely this can't last? [link] [comments]  | ||
| Cypherpunks Prove Bitcoin Works Without Internet via Ham Radio, Satellite, Mesh Networks Posted: 30 Jul 2021 12:24 PM PDT
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| Happy sixth anniversary, Ethereum Posted: 31 Jul 2021 12:44 AM PDT
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| Posted: 30 Jul 2021 10:34 AM PDT
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| Posted: 30 Jul 2021 07:50 AM PDT
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| What makes this Moon Round different [Chart] Posted: 30 Jul 2021 06:07 PM PDT
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| Privacy is the most undervalued human right Posted: 31 Jul 2021 01:18 AM PDT If I we think about privacy the first thing that comes to mind is: Why would I need privacy ? I am not doing anything wrong. But this is a major misconception of privacy. To say it with the words of Eric Hughes: "Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world." Privacy is a fundamental human right and a lack of it automatically results in the loss of personal freedom. If you cant act privately you cant act free ! Just imagine your family, your friends, your boss, your neighbor, your landlord, the government and the scammer around the corner would always be aware of everything you do ... It opens yourself up for any kind of control, suppression and fraud. We see you have a porn account ... you are fired as a caretaker. You spend money on alcohol ... we cant give you health insurance. You have a lot of dept ... we cant rent you a apartment. You voted republican ... we cant hire you in our progressive business. the possibilities are endless. I would recommend to everybody in the crypto space to read the cypherpunk-manifesto by Eric Hughes. Thereby you should keep in mind, that the people which identify as cypherpunk invented the whole crypto space. They did this in an attempt to defend their privacy and other human rights against big corporations and governments in the electronic age. https://nakamotoinstitute.org/static/docs/cypherpunk-manifesto.txt Please be aware that you privacy is attacked by big corporations and governments. It is in their interest to limit your privacy as much as possible to have as much control over you as possible. It is on us to defend our privacy and the personal freedom related to it. If you think all of this is not on your business because you have nothing to hide, I would like you to read this poetic from the German Lutheran pastor Martin Niemöller and think about the implications. Keep in mind that the Weimarer republic was a free and constitutional society until the Nazis got elected: First they came for the socialists, and I did not speak out— Because I was not a socialist. Then they came for the trade unionists, and I did not speak out— Because I was not a trade unionist. Then they came for the Jews, and I did not speak out— Because I was not a Jew. Then they came for me—and there was no one left to speak for me. Monero, Tor, https://www.privacyinternational.org/ and many other projects already standing there in the trench and fighting for our freedom every day. As a result they get defamed and labeled criminal by the exact same entities that would like to erase our privacy. Dont let them down ! Its on us today to shape the kind of future we want to have for us and our children. In the end I will leave you with the words of the probably most famous cypherpunk: "If you don't believe it or don't get it, I don't have the time to try to convince you, sorry." --Satoshi Nakamoto-- [link] [comments]  | ||
| Posted: 31 Jul 2021 12:58 AM PDT I see how it could be justified - Bitcoin is the first and has been going strong for over 10 years. But sometimes I wish many coins and tokens would detach from BTC and have their own language and movement gestures. This way it would be a much more rational market and we would really know which coin is doing better than the other and gain a wider vision when it comes to TA, as well. Right now in the grand scheme of things almost all of the charts resemble that of BTC. F-word. Rant over. [link] [comments]  | ||
| Telling people that you own crypto... good or bad? Posted: 31 Jul 2021 12:16 AM PDT Interested to hear peoples thoughts on this, I for one am quite careful about who i tell that I even invest in cryptocurrency. I feel as though where i'm from people would look at you like you're crazy if you were to tell them. I mean i obviously have told my partner and a few close relatives but thats it. In all honesty i think it's for the best that it's kept that way though. I love that this subreddit allows me to communicate with other people who are so big on this movement and who believe in it too. [link] [comments]  | ||
| Complete Beginner's Guide to Cryptocurrency Wallets 2021 Posted: 31 Jul 2021 12:27 AM PDT A Beginner's Guide to Cryptocurrency Walletsupdated on 31th July 2021 A cryptocurrency wallet is basically a software that enables you to track, send and receive coins through the blockchain like a bank account. Every wallet has a public key and a private key, but we'll get back to this later. But first let's answer a few things that you are probably wondering about ðŸ’
There's an old saying in Tennessee that says: "Not your keys, not your coins". What it actually means is that if you keep your cryptocurrencies on an exchange (such as Coinbase, Binance or Kraken), you don't actually own those coins, because you don't have the keys to the related wallet. You gain access to those wallets by logging into these exchanges, but your account can - theoretically - be deleted in the blink of an eye, or the exchange can get hacked, attacked, etc. And with it, your funds can disappear forever. If you want to learn more about this, make sure to look up Mt. Gox's hacking. It is an unfortunate event, but one that puts you on guard for life. So you already know that you need to own your keys in order to own your coins. But what are these keys? Your public key is what identifies your account on the network. Think of it as your email address, because when someone wants to send you cryptocurrency, they will send it to this address. Your private key is a string of 64 characters that can be generated from a 12-word (or more) seed phrase. It basically serves as the password of your account. It is used to sign transactions and to prove that you own the related public key. See, it's not that complicated, is it?
There are 4 types of wallets that you should be using. Ideally, you can pick the one that fits your crypto habits the most. You should avoid using Web wallets. As always, if you can, please pick the safest wallet type in order to minimize the risk of losing your cryptos. Hardware / Offline / Cold Wallet - an offline storage device (e.g. hard disk, USB stick). You might've heard the names Ledger or Trezor, these are the 2 biggest brands at the moment. The ledger supports over 1200 cryptocurrencies, while Trezor supports over a thousand. It is also the most secure way to store your cryptocurrencies. Mobile Wallet- applications that are installable on your mobile phone. Beware that even though an app can hold crypto, it doesn't mean it is NOT custodial. (e.g. Coinbase has a mobile app, but it is custodial, meaning that they control your coins.) Exodus or Atomic mobile apps are recommended if you decide to create a mobile wallet. Desktop Wallet- wallets that are installable on different desktops and are compatible with Windows, Mac, and Linux. Your keys are stored on your computer, and you can use this wallet even when you're offline. Note: Desktop wallets tend to be more advanced than mobile wallets, and usually come with more technically complicated features that can increase privacy or allow for more flexibility when it comes to signing transactions. Paper wallet- a paper wallet is essentially a piece of paper including your public and private key, or a QR code (so that you can quickly scan them and add the keys to a software wallet to make a transaction). It's a really safe way to store your cryptos because your keys are not connected to any servers. The only way someone can steal your cryptos is if they steal this paper. Other types of physical wallets- Metal plates, wood, stone engravings and so on. If you choose to go the physical way of storing keys I highly recommend that you buy a piece of soft metal and a cheapest dremel tool to etch the keys into the plate. it takes about 20 minutes to get it done but its 1000x times safer. Paper burns, gets wet, gets eaten by pets and such.
Ledger Nano (S and X) - The most popular hardware wallet brand in the world, currently sells 2 different sticks. The S is the cheaper alternative, but if you handle transactions between multiple cryptocurrencies frequently, the larger storage of the Nano X should be more convenient. The Nano X also has Bluetooth 5.0 support. You can read more about Ledgers on their website. Trezor (One and Model T)- Trezor is the other popular hardware wallet brand. The Trezor One is the cheaper alternative ($59), while the Model T is more expensive but comes with extended functionality and additionally supports cryptocurrencies such as ADA, XMR, XTZ, etc. !!!WARNING!!! If you choose to go the hardware wallet way, take extreme caution where you purchase your wallet. Don't purchase second hand wallets and don't use Ebay , Amazon or god forbid Alibaba to purchase hardware wallets. Alway buy directly from the manufacturers site. Even if you bought directly, always check for tampering signs such as damaged box, removed plastic wrap or anything similar. Before use, always restore the device to factory settings if possible. If you ever receive "replacements" of your device out of the sudden for some unknown reason, DO NOT USE THEM! Beware that Ledger was targeted by a cyberattack that led to a data breach in July 2020. A larger subset of detailed information has been leaked, approximately 272,000 detailed information such as postal address, last name, first name, and telephone number of our customers. However, not a single coin was stolen as hackers didn't gain access to private keys. Please keep this in mind when making your decision. In July 2021 there have been reports of malicious tempered Ledgers being sent around to several users with a target to scam those users. If you get one do not use it. Always buy from official sites, I personally would avoid sites such as Amazon or others. Despite the security of hardware devices themselves, the weakest link is always the people using them. If possible, avoid buying used hardware wallets, even though both Trezor and Ledger have security measures to avoid the attempt of installing malwares.
Exodus- a very user-friendly and easy to understand, reliable wallet. As of now, it is probably the most popular desktop wallet. Available on Windows, Mac and Linux as well. Atomic- it is also a user-friendly and reliable wallet. Atomic supports 500+ assets and allows staking various cryptocurrencies. Available on Windows, Mac and Linux. Metamask- arguably the best browser based wallet with the best support. Works best with Chrome and even Brave (as its a Chromium based browser). Of course, there are several other reliable desktop wallets, but these three proved to be the most user-friendly and easy to use wallets so far. As always, please DYOR!
Exodus and Atomic wallet- are great also on mobile but if you want you can also check these below Trust- This Binance owned wallet has been getting very popular and I particularly like it because of a solid browser integrated in app and the ability to seamlessly store tons of different crypto. Jaxx Liberty-Weird ass name but a very solid multicoin app. Be careful NOT to use the in-app exchange option as they exchange very very poorly. Trust me. Coinbase Wallet- Great wallet for saving both NFTs and several different crypto coins. Good support and always up to date with security issues. Note: many coins have their specific wallets such as Algo, ADA, VET and others. Those wallets sometimes have perks such as staking, delegating and such. Staking means that you lock or soft lock your coins and you get rewards in either more of the same coin or coins such as VeThor. WARNING: Last piece of advice: always be cautious and double-check everything. Keep your devices malware-free, and don't click on anything suspicious (such as emails from "Binnance", crazy bonus links from "Coimbase", etc.). If exchange supports anti phishing code (Binance, Kucoin and others do) be sure to check it!
Well..yes and no. Leaving your Bitcoin at the exchange or brokerage you bought it from is generally (trying not to think about Mt.Gox) a very secure option. When moving funds to a wallet you NEED to consider fees. There is always someone who tried to transfer 20$ of BTC just to find that half of that amount was needed to cover the gas fees. Also wallet security depends on you and how much you did to keep it secure.
Keeping your investment secure is an essential skill of a true HODLER. Everyone knows by now that "not your keys not your coin" is true and also exchanges are not 100% safe. Sure, most well known exchanges nowadays are safer than the "mt.gox" back in the day but still they are a big target for hackers and eventually it can come to a breach that could result in your assets being stolen. *But of course, your wallet is only as secure as you make it!* Biggest fuckups you can do are screenshotting the seed-phrase, copypasting it in a .txt file or similar, sending it on a messaging app like WhatsApp or even Email and similar. Don't do that under any circumstances. If anyone ever asks you for a seed phrase, you tell them to sniff your ass. Noone ever needs your seed phrase and noone except your most trusted people should need to know it. I do recommend though, that you (if you have people who you trust 1000%) teach your trustees how to used it in case you aren't around anymore. I am planning on teaching my two little ones about crypto once they can understand more, so that they have the knowledge when the time comes when I wont be around anymore. I think by far the best way to store your seed phrase are metal plate engravings. Cheap ass 10$ dremel tool, semi-soft metal plate, and about 30 minutes of free time. There are of course pricier more refined ways like a Steely, or a Cryptosteel. But Im broke as fuck so I prefer to do it ghetto style. Golden rules of securing your seed phrase for future are:
Remember one thing..Your seed phrase is your money! [link] [comments]  | ||
| Moment of silence for folks like me who bought ICP at $750 Posted: 30 Jul 2021 04:38 AM PDT Just thought I'd come here to say I'm one or the people that bought close to the top and it sucked. I guess that's why we're supposed to do our own research. Just wanted to come here and say you're not alone. But Hopefully we can all heal and recover. [link] [comments]  |
![What makes this Moon Round different [Chart]](https://b.thumbs.redditmedia.com/1n7djRxMX5jtbn3KjadqcJx_FH5gTRuqyDZG_vITkSo.jpg "What makes this Moon Round different [Chart]")
![[c01] The scatter-plot shows each Daily since the Moons launch grouped and color-coded by Moon Rounds. We can clearly see the unusual behavior of Round 16 Dailies.](https://preview.redd.it/j0c9zczs0ge71.png?width=726&format=png&auto=webp&s=92a443e4a8327a145480f5f46e942b9cc4255784){kind=link}
![[c02] The scatter-plot shows cumulative values for each Moon Round. You can also see the general estimated direction of where the current round is headed. The current Moon Round 16 definitely looks like an outlier. Or a new normal.](https://preview.redd.it/nnwmr7dx0ge71.png?width=760&format=png&auto=webp&s=bb9948ee02281d9f1cf8f926935ddcf87d758134){kind=link}
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