Cryptocurrency Daily Discussion - August 1, 2021 (GMT+0) |
- Daily Discussion - August 1, 2021 (GMT+0)
- Robinhood will block the BUY button whenever they want. They did it with stocks and crypto. Never forgive, never forget!
- Predictions Tournament
- How Peter Griffin (Family Guy) could have become a Crypto Millionaire.
- Shark Tank’s Kevin O'Leary Won't Invest in Dogecoin, Says 'I Don’t Understand Why Anybody Would'
- Just got scammed
- I have finally made it in the green again!
- Crypto is the only path to financial freedom I see for young people like me
- Bitcoin crossed 42K twice within two days
- Shoutout to Ethereum for being on the 12th green day candle in a row.
- Shitcoin Shiba Inu is Down 80% from All Time High as eToro enables it for Trading
- Ethereum2.0 will Handle x7 Times more Transactions Per Second than Visa
- My layman explanation of Kusama/Polkadot and why they are so innovative
- Beginners Guide to Chainlink
- CPA - Tax Professional 12+ years here [USA]. Happy to answer any questions regarding tax on Crypto Gains & Losses, current reporting guidelines, laws and current increasing IRS efforts.
- Fear and greed index is up from the 20s to 60! Bullish hopium is here to save you!
- Of top 100 coins by market cap, ICP is the 3rd worst performing coin in the past week
- Do NFT sales make anyone else depressed?
- Are we in a Dead Cat Bounce? What do you think?
- The law of wrong numbers
- Don't get greedy if you by some miracle make enough profit to change your life for the better.
- Congrats everyone! BTC is back to HODL level on the BTC Rainbow Chart (aka BTC logarithmic regression)! Link in comments.
- Germany Gives Green Light for Institutions to Invest Up To 20% in Cryptos
- How many crypto have been called the ethereum killer? How many of them have managed to survive to this day?
- If Elizabeth Warren understood blockchain she honestly would be begging for it. Or she is a shill
| Daily Discussion - August 1, 2021 (GMT+0) Posted: 31 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:
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| Posted: 31 Jul 2021 11:31 PM PDT With market recovering after the dippy dip a lot of new people coming to this sub everyday and many of them think Robinhood is a good way to teat the waters. Many may have forgotten now that the dust has settled .. but we remember. Robinhood decided to freeze trades for GameStop on Jan. 28. Shares spiked after wsb began buying the company's stock. Maybe some forgot but Robinhood literally blocked the buying button so that its users couldn't buy! Then they did the exact same shit with DOGE. They don't give the slightest shit about you. If they feel like it, they'll block that button and and prevent you from using your own money. You have so many better options wherever you are from: -Coinbase -Kraken -Binance -KuCoin -Crypto.com -BitStamp And others.. Don't let them control what you can and cannot buy or sell. [link] [comments]  | ||
| Posted: 31 Jul 2021 09:35 AM PDT | ||
| How Peter Griffin (Family Guy) could have become a Crypto Millionaire. Posted: 01 Aug 2021 02:33 AM PDT
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| Shark Tank’s Kevin O'Leary Won't Invest in Dogecoin, Says 'I Don’t Understand Why Anybody Would' Posted: 31 Jul 2021 06:02 PM PDT
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| Posted: 01 Aug 2021 02:13 AM PDT So, as per the title I just lost 1.04 ETH I basically downloaded a fake ronin wallet mobile app on Google play store and generated a seed phrase from it. I then proceeded to deposit ETH from to the Ronin wallet I generated from the app thinking Ronin wallet should have both mobile app and browser extension. Idiot right? I know. Woke up to see all my axies gone. http://imgur.com/gallery/Ww4srpR http://imgur.com/gallery/8lBYMD2 http://imgur.com/gallery/OwANQsN http://imgur.com/gallery/Ve9clNi http://imgur.com/gallery/sxTbyNa http://imgur.com/gallery/xfNjbik Literally created a wallet for them with the seed phrase, put my funds in there and went to sleep. You'd never think you'd fall victims for such scams until you do. I admit I'm the idiot who did not double check every step while handling my own assets. But before all of you pile on with all the why's, do's and don't, or about the amount of warnings around, I'm fully aware of all the scams there are out there. What's done is done, all the questions won't bring my assets back. What im here to do is spread awareness even though you think this is an obvious scam. Me too, I'm not oblivious to it. It was just a moment of carelessness. It's still up on the android app store, and yes I know everything about the app is a red flag, but understand that I was doing it on both mobile desktop while working at the same time. The fact that my day job involves dealing with scams is even more embarrassing to admit. This proves that even the knowledgeable CAN and WILL fall victims to such scams with just a few missteps. It's not just the gullible and or ignorant that fall victim. This is an expensive lesson for me, 2.5k USD can feed a family for a few months where I come from, SEA country if it matters. Oh well. Life goes on. Definitely feels bad though, going back to work is gonna feel awkward. [link] [comments]  | ||
| I have finally made it in the green again! Posted: 31 Jul 2021 10:12 PM PDT So I am one of those people, and I am sure there are many of us, that joined crypto during the last bull run. I myself joined up in March and was on top of the world until our crash in May.... Ever since I have been deep in the red (as far as -40% at some point) but I've kept going DCA and... This morning I am in the green! Just wanted to share my happy news. For all of you not out of the red yet: keep going, DCA and stake your crypto and you will get there! Edit: some spelling errors [link] [comments]  | ||
| Crypto is the only path to financial freedom I see for young people like me Posted: 31 Jul 2021 09:43 PM PDT For many people in their 20s and 30s, myself included, crypto represents a chance at a better life. I want money to support a family and myself financially, and this might be the only path to it I can see. I don't want to have to worry about not being able to pay my rent. I don't want to have to worry about not being able to put food on the table. I don't want myself or my family to be scared I want a chance to start something big. I want to lay down the foundation of success in my family for generations to come. That is my dream and that is my moon. I wonder if many other people in their 20's like me think this way. [link] [comments]  | ||
| Bitcoin crossed 42K twice within two days Posted: 31 Jul 2021 08:38 PM PDT We know 42k is a major support. Here's to you - make moneyyyy! I want everyone to profit in this cycle! Boom baby! [link] [comments]  | ||
| Shoutout to Ethereum for being on the 12th green day candle in a row. Posted: 01 Aug 2021 01:53 AM PDT Most of the coins I check, have at least a red candle somewhere in the middle. Ethereum is a pleasure for the eyes right now. And we still have the fork ahead. I need to complete 210 characters so don't mind this part. [link] [comments]  | ||
| Shitcoin Shiba Inu is Down 80% from All Time High as eToro enables it for Trading Posted: 31 Jul 2021 04:02 PM PDT
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| Ethereum2.0 will Handle x7 Times more Transactions Per Second than Visa Posted: 31 Jul 2021 05:03 PM PDT Ethereum 2.0 will outperform Visa by a factor of 7 when it comes to transactions per second. Ethereum 2.0 will handle around 100,000 transactions per second according to Vitalik Buterin, while Visa claims to handle around 15,000 transactions per second. But in practice Visa only handles around 1,700 transactions per second. This would make Ethereum outperform Visa by a factor of around x59 times more transactions per second than Visa. [link] [comments]  | ||
| My layman explanation of Kusama/Polkadot and why they are so innovative Posted: 31 Jul 2021 06:53 PM PDT I've noticed on this sub very few people are discussing Kusama & Polkadot, so I thought I'd take a stab at explaining in layman terms how they work and their significance. Before getting started, I'd like to clear up that Kusama is the canary network to Polkadot. Unlike what many people in this sub believe, Kusama is not a test-network for Polkadot -- the test network is called Rococo. Kusama is a fully functional and live network with real value where all new-tech is run prior to being released on the main Polkadot network. Kusama is fast-paced, innovative, and experimental while Polkadot is slower, less chaotic, and more reliable. So what technology does Polkadot provide? Right now in crypto if one blockchain wants to communicate with another, it has to using bridges. Bridges are slow, expensive, and not practical for scalability. Polkadot provides a fast, inexpensive, and standardized way for blockchains to communicate with each other. Why is this important? What is the significance of this? In the Polkadot ecosystem many blockchains can deploy and each specialize in certain technologies (e.g. DEX, file storage, privacy, fast transactions, smart contracts, etc...), and then leverage each others features. By leveraging different features of different blockchains, developers can effectively create decentralized applications that are otherwise not possible. The chains sorta provide an SDK for devs to build off, and create practical applications from (websites, streaming services, social media, cloud storage, etc...). For instance, a DEX chain can leverage the privacy chain to allow for confidential swapping. Or a dev can leverage from a smart contract platform and a file storage platform to create a music streaming dapp. Polkadot will be the connective tissue for the future decentralized web. I am surprised this isn't talked about more in this subreddit. Just think about the scalabiltiy. The tech from current chains(ADA, Tezos, ETH, NANO, etc...) can each exist in the Polkadot ecosystem and leverage each others features. Cardano's smart contract platform will be just one of the many smart contract options for devs to use in polkadot, and whatever the next big hit crypto tech the future holds can easily be deployed into the ecosystem for devs to leverage. At the moment Kusama already has deployed 5 chains and demonstrated cross-network functionality. The 5 chains on Kusama right now are Karura(DEX), Moonriver(Ethereum Smart Contracts), Shiden(Web Assembly + Layer 2 Smart Contracts), Khala(Privacy), and Bifrost(Finance). These chains are operating and in the midst of deploying their applications. In a month or so these chains will be fully functional and things will start to get really exciting! I hope this post helped you understand Polkadot/Kusama, feel free to correct me if I was wrong about anything TLDR: Kusama is a faster/innovative version of Polkadot where tech is deployed prior to release on Polkadot. Polkadot provides an efficient means for blockchains to communicate and leverage each others features thus laying the foundation of the future decentralized web. [link] [comments]  | ||
| Posted: 01 Aug 2021 12:36 AM PDT
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| Posted: 31 Jul 2021 06:46 PM PDT The IRS added a new checkbox this year on Form 1040 p. 1 'Did you trade virtual currency?'. They've subpoenaed Coinbase and are forming entire divisions devoted to finding those not paying tax on crypto gains. That being said, there are still ways to properly report while also mitigating your liabilities. Luckily COVID has set them back quite a bit with regards to work in general - that being said, pandemic cost the US a lot and they'll be coming after any easy targets for tax (usually billionaires-crypto traders will be at the top of the list in next couple years imho) [link] [comments]  | ||
| Fear and greed index is up from the 20s to 60! Bullish hopium is here to save you! Posted: 31 Jul 2021 09:46 PM PDT
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| Of top 100 coins by market cap, ICP is the 3rd worst performing coin in the past week Posted: 01 Aug 2021 12:33 AM PDT ICP = -3% The only two coins performing worse are TEL = -4.3% and r/CC's absolute favorite, SAFEMOON, down 15%. ICP stays shitting the bed. It's incredible really. I to this day don't know why anyone has faith in it given the tokenomics, overall performance, and weird centralization of this supposed "decentralized" coin. Call me bearish, I guess. I'm not invested in ICP thankfully, but find tracking it quite interesting. [link] [comments]  | ||
| Do NFT sales make anyone else depressed? Posted: 01 Aug 2021 02:05 AM PDT I don't know if I am the only one but I am genuinely confused and a little disheartened at the whole NFT market. Like I just want to be able to pay my bills and not have to work 9-5 for my whole life. Then I jump online and see people dropping tens of thousands of dollars on a pictures of a dog or an ape? Idk im hoping this just isn't me but as someone who has not grown up with money it just seems fucking insane [link] [comments]  | ||
| Are we in a Dead Cat Bounce? What do you think? Posted: 31 Jul 2021 09:56 PM PDT Both in 2014 and 2018 we had a run up similar to this after we peaked. They were dead cat bounces and were short lived before the market tanked even further. (A dead cat bounce is a strong but brief recovery in the market after a crash and is consumed in the overall downtrend.) the market right now feels eerily familiar to back then. I would love for us to keep going up though really I think this is likely just another dead cat just like we saw in the previous two cycles - but hey, I'm just some dude with a massive dong. What do you all think and why? [link] [comments]  | ||
| Posted: 31 Jul 2021 08:37 PM PDT The law of wrong numbers states that you are always going to be "wrong". If the price of your crypto crashes then you are going to be mad that you own too much of it If the price sky rockets then you're going to wish that you had bought more. You're never going to be 100% satisfied so enjoy the ride! [link] [comments]  | ||
| Don't get greedy if you by some miracle make enough profit to change your life for the better. Posted: 01 Aug 2021 02:44 AM PDT Since NFTs are going crazy again and we're looking at a potential start of second half of this bullrun I figured I'd make this post. If you make a life changing amount of money in crypto SELL. It doesn't matter how strong the fundamentals are or how certain you are that the project/coin/token/NFT has more room to grow. If your life can be changed for the better from profits you make and you don't atleast take some profits off the table, you are a fool. And a greedy fool. If you stumbled into a bag of a 1000x gem you are already doing better than 99% of people in crypto but that doesn't make you a genius, and it certainly doesn't mean you know what your doing. It likely means you got incredibly lucky and you won the lottery. Too many people over the first half of this year won the lottery and went straight to the casino to bet it all on black, sure you might be part of the 1% of the 1% who win twice but is that a chance you really want to take? Is it a chance you can afford to take? Will you be able to forgive yourself if it doesn't play out? Personally I'd rather regret selling early and have my life changed for the better than regret selling late and losing all those unrealised gains and potentially even losing the initial investment. Don't get greedy. [link] [comments]  | ||
| Posted: 31 Jul 2021 02:23 PM PDT https://www.blockchaincenter.net/bitcoin-rainbow-chart/ This is the chart that gives me the most hope that this isn't a true bear market, but just a temporary correction caused by market uncertainty. We just got back to HODL territory, and that means we're on track with what the price of BTC "ought" to be on average in a sustainable trend. If you're looking to sell or buy and didn't know about this chart, it's a straightforward tool to help know what price you're getting for your BTC. With that being said, smarter people than me recommend dollar cost averaging and getting into a market whenever you can vs waiting for a correction. Also, upvote any posts you want others to see here in r/cryptocurrency. Keep those downvote bots at bay! [link] [comments]  | ||
| Germany Gives Green Light for Institutions to Invest Up To 20% in Cryptos Posted: 31 Jul 2021 04:33 AM PDT
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| Posted: 01 Aug 2021 12:53 AM PDT So, its only been a few months that i have been investing into crypto and in that short time have come across crypto that have said that they'll replace ethereum in the future. So, that got me thinking why do they wanna replace ethereum so bad and how many so called eth killer have there been in existence since 2015? [link] [comments]  | ||
| If Elizabeth Warren understood blockchain she honestly would be begging for it. Or she is a shill Posted: 31 Jul 2021 09:43 PM PDT After the GameStop short squeeze and the blight of retail traders so many Congress people went to the cameras and asked for more regulation. They acted like they were out for blood. Now you have someone like Warren who is coming after a crypto when it's exactly what she was asking for a few months ago. [link] [comments]  |
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