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    Friday, August 13, 2021

    Cryptocurrency Daily Discussion - August 13, 2021 (GMT+0)

    Cryptocurrency Daily Discussion - August 13, 2021 (GMT+0)


    Daily Discussion - August 13, 2021 (GMT+0)

    Posted: 12 Aug 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:

    • 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 The prior exemption for karma and age requirements is no longer in effect.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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    Coinbase Smashes Revenue Record, Brings In $2,000,000,000 in Second Quarter

    Posted: 12 Aug 2021 06:29 PM PDT

    Over $405.02M worth of positions were liquidated again in the last 24h and over 105,000 traders got rekt.

    Posted: 12 Aug 2021 06:57 PM PDT

    Over $405.02M worth of positions were liquidated again in the last 24h and over 105,000 traders got rekt.

    In the past 24 hours, 105,357 traders were liquidated. Basically what happened was exchanges closed their positions when they ran out of funds to cover their losses essentially.

    The single biggest liquidation was over $8.31 million! Ouch!

    $148,100,000 liquidated in Bitcoin.

    $95,890,000 liquidated in Ethereum.

    $47,300,000 in XRP

    and $19,240,000 in DOGE (LOL)

    and the rest in various altcoins.

    It just keeps happening, I may flair it next time as 'comedy'. RIP.

    https://preview.redd.it/98zpgyjo71h71.png?width=1737&format=png&auto=webp&s=391c55005fb3e09f811485442f3f407c10d50978

    https://preview.redd.it/3rzrson471h71.png?width=1585&format=png&auto=webp&s=07fd6ca5ca24c633e9a204a13a44935952480d05

    submitted by /u/rootpl
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    Congresswoman Calls On Pelosi To Strike Anti-Bitcoin Language From Trillion-Dollar Bill

    Posted: 12 Aug 2021 02:11 PM PDT

    Don't tell anyone how much you have.

    Posted: 12 Aug 2021 07:54 PM PDT

    There's too much risk with letting people know how much you have. Whether it's strangers on the internet or people you know. you'd be surprised how a little money can make you a target very easily. Or family trying to guilt you. Remember you either bought high and sold low or lost it on your boat. Either way stay safe.

    submitted by /u/SohEternal
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    You could have doubled your money if you bought when everyone was scared to do so!

    Posted: 13 Aug 2021 03:32 AM PDT

    Fun fact: ADA was exactly 1$ on the 22nd of June, now it's 2$!

    This is just a reminder of how important it is to buy the dips and DCA even more so during bear markets. Buying in a bear market means bigger profits during bull markets.

    submitted by /u/Arsa3108
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    Out of the top 20 crypto currencies today, which will be the first to die off?

    Posted: 12 Aug 2021 05:48 PM PDT

    I want it straight.

    Which crypto in the Top 20 currently do you think will die off the quickest (I.e. fall in rankings/dissolve/become obsolete)

    For me, I think $ICP will be the first one to capitulate.

    I'm excited to hear from you! Leave your answers below :)

    Cheers,

    submitted by /u/Rowan-Curtis
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    NFTs Are A Money Laundering Scheme For Rich People, Says Crypto Analyst

    Posted: 12 Aug 2021 03:45 PM PDT

    No, not Ted Cruz or Any other U.S. Career Politician is Our Friend

    Posted: 12 Aug 2021 06:21 PM PDT

    No, not Ted Cruz or any other U.S. career politician is anywhere close to being a true supporter of crypto.

    If you actually think any of these corrupt politicians have your and cryptos best interest in mind, you are being misled.

    Just like the 87 year old senator, who blocked the amendment for the harmful crypto bill, most of them are being sponsored heavily by big bankers.

    To actually gain our support they need to do way more than throwing some words once in a while

    Do not rally behind a specific party or politician just because some fancy words

    submitted by /u/Dwez1337
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    Guy From Coin Bureau Here - AMA!

    Posted: 12 Aug 2021 05:28 AM PDT

    Guy From Coin Bureau Here - AMA!

    Hi Crypto Community,

    I am Guy from the Coin Bureau YouTube channel - a long time reader of this sub!

    Today I am answering all your questions. Be it about Crypto, the Coin Bureau or me.

    So, ask me anything!

    AMA: 4PM UK (11AM EST) > 6PM UK (1PM EST) on the 12th Aug

    ---

    📺 My YouTube: https://www.youtube.com/c/CoinBureau

    🐦 My Twitter: https://twitter.com/coinbureau

    📱 My Telegram: https://t.me/cbinsider

    https://preview.redd.it/9p80jh0m7xg71.jpg?width=960&format=pjpg&auto=webp&s=d2da43dba85318b04e164e3ee0009f7065354059

    submitted by /u/GuyCoinBureau
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    Do you actually believe any coin or token you hold is capable of 1000X?

    Posted: 12 Aug 2021 03:05 PM PDT

    It's probably the unicorn-hunt that got me into crypto, the Bitcoin Pizza Guy story; mainstream media's obsession with the massive gains. As I spent time in the space I realised that while it's possible, it's pretty unlikely. I invested in Shiba Inu when it hit my local exchange, not realising the parabolic rise had already occurred, I was just grabbing onto the fin of a rocket as it ran out of fuel and gravity was about to take hold of it again.

    I reconfigured my portfolio entirely to The Big Two and proven alts. I'm finally in the green and Shib is long gone. I'm comfortable with steady gains, but a part if me still wants that unicorn. I hodl a couple of fun DeFi longshots to scratch the itch though; little lottery ticket bags because why not. I have no confidence they'll 1000X and am fully resigned to them doing a hundredth of that. Which is still nice but hardly lamboish 😀

    Does anyone hold a coin or token that you know is going to see this kind of insane performance? I'm genuinely curious about that kind of confidence because I've lost it.

    submitted by /u/1078Garage
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    Can we stop posts asking about what coin is your favorite? Or what coin do you think will pump? And so on!!!!

    Posted: 13 Aug 2021 04:31 AM PDT

    Every two hours there's a post asking the same queation with different wording.

    What is your favorite token? What is a coin you think will pump 1000x? What is a coin you think will dump next week? Tell me your favorite coin without telling me your favorite coin.

    And much much more. I am sick of seeing these stupid posts!

    CAN YOU STOP THIS SHIT?! IT IS FUCKING ANNOYING!!!!!

    submitted by /u/XGamingMan
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    It continually blows my mind that ETH was $322 less than 1 year ago

    Posted: 13 Aug 2021 03:53 AM PDT

    ETH was $322 less than 1 year ago

    Just goes to show that crypto moves extremely quickly and it's easy to get left behind.

    DCA and hodl is the way!!! So excited for the next year, and hope we can all look back at today with the same kind of wonder 🚀🚀

    submitted by /u/SxQuadro
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    Ethereum to become ‘ultra sound money’ following 1,046 deflationary blocks

    Posted: 12 Aug 2021 07:06 PM PDT

    I gave up a girlfriend now I have more to spend on crypto

    Posted: 12 Aug 2021 01:47 PM PDT

    Well I'm single now,

    Money spent on her food? crypto

    Money for gifts, birthdays etc? crypto

    Money that I used on gas to take her places? crypto!

    Today dca'd into eth on the dip when I would have had to go on a dinner with her, and its surely made me feel better!

    I can't wait to put all this into crypto

    submitted by /u/Sorrytoruin
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    Please stop posting price predictions - they are cringe.

    Posted: 12 Aug 2021 07:02 PM PDT

    Nobody can predict what BTC, ETH, or any other coin will be at by the end of the year. If they happen to be right it will be because of luck - not because they are a """crypto expert""".

    Anyone who has a basic understanding of the technology knows there is massive potential upside in crypto. Stop trying to guess what it will be in 15 min and buy more.

    Price prediction posts are repetitive and cringe.

    submitted by /u/BrutallyPretentious
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    Crypto is the best thing that has happened to people living in third world countries

    Posted: 12 Aug 2021 04:49 PM PDT

    I live in Bangladesh and I just turned 16, before coming across cryptocurrency a few months ago, I wasn't able to make online purchases, invest in anything online nor was I able to play paid games from steam. It is the only internationally recognized currency where even minors have the same rights as adults and can not only make purchases, but also invest and contribute to the global economy.

    My country considers investing in other currencies as "money laundering". So much so that they haven't even let paypal or gift cards in the country. The only way a teenager could contribute is by doing hard labor, which is common in a third world country.

    Crypto is a lifeline for those in Venezuela, Lebanon, Syria and even Yemen. You can donate to people instantly with zero fees with the click of a button using crypto. There are apps like WeNano where you don't need to pay anything, yet you play a role in helping. Crypto is the way I made my first buck online, and so did many others in a situation like me.

    People often look at crypto as something that is used to buy drugs or do illegal things, they overlook the best aspects of crypto, and how it's helping millions of people. If you hold crypto or promote it in any way, you are helping a lot of people in the present, and especially by selflessly promoting it, you are helping their future.

    submitted by /u/Many_Scratch2269
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    [Nostalgia] Watching bitcoin hit $100 live

    Posted: 12 Aug 2021 09:57 PM PDT

    How is it even possible to reach the 15000 karma cap??

    Posted: 13 Aug 2021 05:02 AM PDT

    I have no idea how people do that? I spend much time in the sub, educating myself, commenting when I have something to say, some random shitposting as wellfir sure, but 15 000 seems like an impossible goal to reach.

    Ho do you do it whales 🤔?

    . So I hope all of you are having a nice day and enjoy your gains and hopefully a lot of green in your portfolio 💚. And be successful in whatever your goal in this sub is.

    submitted by /u/mustafa199251
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    Explaining leverage and how scary, and profitable, it can be

    Posted: 12 Aug 2021 10:31 PM PDT

    Explaining leverage and how scary, and profitable, it can be

    A lot of people on this sub know about leverage and how bad it is for new investors, I'm not going to outright shame anyone for using 2x or 3x leverage, but I am going to give some statistics that may sway people to, or away from leverage investing.

    I went ahead and made this easy, 2/19/21 I bought 1btc, I then leveraged it 1x, 10x, and 100x. (in real life I seriously doubt any credible place will give you 100x leverage ever, most places don't even do 30x anymore)

    basically with this leverage, you have 30k~, but you have the buying power of 300k, or 3 million.

    let's look at the statistics for this scenario we made up.

    1,10,100x leverage visual

    with the buying power of 30k, with 100x leverage currently, you would be at a net gain of nearly a million dollars.. that's pretty cool, right? ok but you also just bought in at the best time when bitcoin was rallying insanely.

    but what if you bought at the top of the bull run? like an epic Redditor

    value of 1 btc bought at 5/11/21 - 5/26/21. 1x leverage, 10x, 100x

    you will be liquidated if you lose the amount of money you had as collateral, or 2x of it. so if you had 50k, and you lose 100k, you would first off lose the initial 50k you had, and you would owe 50k more, plus any other liquidation fees.

    1x,10x,100x leverage

    In this instance, with 10x leverage, you would be liquidated in about 4-5 days. With 100x leverage, less than a day. it's not even on the graph.

    leverage can be a nice tool for someone who truly knows shit about their investments. But the risks involved are so insane that if you do end up leverage trading it should most likely be only for 2-3x leverage, or you risk being liquidated too early before a massive bull run. This sub often defends new investors from making risky plays like day trading, investing in shitcoins, or leveraging, and I would say in this case it's fair to look at the negatives and point them out.

    submitted by /u/FrogsDoBeCool
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    We crossed the 2T Dollars Total Crypto Market Cap

    Posted: 13 Aug 2021 01:23 AM PDT

    The last time we were in those waters was about 3 months ago and today we did it again after so many downs and FUD. Happy to see this milestones check and hope for many more. What's your projection for end of year ? 3 Trillions or more ?

    Another massive shake down to happen before !

    Anyway buckle up, the best is yet to come!

    submitted by /u/callmemrsunshine
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    Someone just now tried to access my Coinbase account. Luckily 2FA was enabled so they couldn't get in and my account was locked. WHEW! SET UP 2FA NOW!

    Posted: 12 Aug 2021 10:17 PM PDT

    I just got an email that someone was trying to log into my account. "OH FUCK OH FUCK!!" so I try to log in and my password was not the same, or it wasn't working for whatever reason. So I had to reset my password using my email and 2FA with the Authy app.

    I was able to change my password as well see that all my funds were still there. Whew! So glad I turned 2FA on! It's kind of annoying to have to open my phone and type in a code every time I log in but damn, I don't know if I could forgive myself if I didn't have it on and someone stole my money.

    Turn 2FA on now, and don't use SMS. Use an Authenticator App. Stay safe guys.

    submitted by /u/CaptnPilot
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    Cardano Becomes Number 3 Crypto After 13% Rise - Decrypt

    Posted: 13 Aug 2021 04:05 AM PDT

    How greed can affect people a.k.a I saw character development in my girlfriend

    Posted: 13 Aug 2021 02:48 AM PDT

    Hello,

    I just wanted to share a small story about how I saw my girlfriend's attitude change during these bullish times.

    I started getting into crypto in May, after one of my friends turned 100 euros into 1500 with dogecoin (hint: he got lucky!).

    I have kept my investments secret from my girlfriend, she only knew that I was in, but not by how much.

    I was always telling her that I was x% down, mainly, from -50% in late May to -15% a couple of weeks ago. At this time I showed her how much money I put in these three months, basically around 50% of my monthly savings each month. She flipped a bit, told me that I had put too much money in and that I should not put any more..

    Fast forward to a few days ago I showed her I had gains, she was quite happy for me, it was the first time in months.. she did not say anything about putting in more money.

    Just one day after the big gains, basically yesterday, there was a -5% change. I told her this faking real sadness and .. she said "well if it's going down you need to buy! you still have *** euros in that bank account, right? :D she has the right attitude I guess, wanting to buy this minuscule dip and dca, but I was very surprised to ever hear her saying I should put more money into it after first basically urging me to stop investing for now xD.

    The moral of the story is .. people can get overwhelmed by feelings (especially greed), and I don't think crypto is a good place to be sentimental. Patience and cold blood will probably yield a good result, but it doesn't hurt to be happy when you see some gains or to take some out :)

    Thanks for reading this, have a good day!

    submitted by /u/FacetiousInvective
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    Charles Hoskinson plus toilet roll.

    Posted: 13 Aug 2021 04:45 AM PDT

    During the Bitcoin conference in Miami back in april a maximilist threw a toilet roll at Charles Hoskinson with the word "shitcoin" written in coloured pen at him. He referred to this in a YouTube video uploaded a couple days after the conference.

    On behalf of all Charles Hoskinson and Cardano fans I would like to stick the proverbial middle finger up at the maximilists as ADA pumps and Smart Contracts are imminent.

    The anti this and anti that sentiment is pointless, it only hurts us as a community. This space is big enough for all of us regardless of where our loyalties lie.

    submitted by /u/dzee_1
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    How to lose your cryptocurrency��in one easy step! Send xxx BTC to some wallet address and receive %50 extra BTC back! ��

    Posted: 13 Aug 2021 03:57 AM PDT

    BEWARE! Scammers will scam! No one is going to send you free BTC! PLEASE don't fall for these scams.

    Remember what Mom said "If it's too good to be true, it probable is!"

    The way to make money in cryptocurrency is to invest into solid projects, solid teams, and solid technology!

    Stay safe friends!

    submitted by /u/PortCity_MadMan
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