Cryptocurrency Daily Discussion - August 16, 2021 (GMT+0) |
- Daily Discussion - August 16, 2021 (GMT+0)
- Cryptocurrencies would NOT have saved the people of Afghanistan......
- Elon Musk backs Mark Cuban's claim that dogecoin is the best cryptocurrency as a medium of exchange - in other words, billionaires pulling each other's dicks
- My Dad more than doubled his life-savings in less than a month with Chainlink
- Ask me something about crypto and edit your question after I answer to make me look like an idiot
- WALMART posts job opening for "DIGITAL CURRENCY AND CRYPTOCURRENCY PRODUCT LEAD" one hour ago
- People flocking to empty banks and ATMs in Afghanistan is further proof that we NEED crypto.
- What is one coin you'll never invest in?
- I've earned more money staking crypto in a week, than I have holding it in my bank for 5 years.
- What I learned arguing with people who dislike cryptocurrency for 3 hours on reddit
- Bulish news - Walmart Hiring Digital Currency and Cryptocurrency Product Lead
- What’s your one “gamble”, and why?
- Greed is back on the menu, boys!
- Reddit did you a HUGE Favor by updating their TOS. If you got rid of your moons after that, I suggest getting them back. ASAP!
- Nearly 90% of all Bitcoin has already been mined
- So, A coin reached the Top 10 recently and it's pumping like crazy. Time to FOMO? Absolutely not!
- I’ll say it. XLM is indubitably underrated.
- A message to all new users: open your vault!
- If you had $500 for crypto what would you buy now?
- Ethereum Network Capacity Increases 9% Since London Upgrade
- I deleted my seed phrase and sent it to my future me. Let's see how this experiment goes.
- Safemoon is currently the worst performing "project" in the top 100 - Your thoughts?
- Types of orders for beginners
- Wow! Hacker Involved in $600 Million USD Worth Crypto Heist Turns Down Reward for Returning the Money misses out on $500,000
- Friendly reminder: if a billionaire is shilling something, it’s probably because they’re angling to make more money. Not to help the average Joe.
- Dogecoin is not ‘Strongest Crypto as Medium of Exchange' like Elon Musk and Mark Cuban claim
| Daily Discussion - August 16, 2021 (GMT+0) Posted: 15 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:
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| Cryptocurrencies would NOT have saved the people of Afghanistan...... Posted: 16 Aug 2021 12:17 AM PDT I am a person who fled from Afghanistan in the year 2000......back when the Taliban was in charge as well. It is horrible for me to see them rise to power again today. My family is still in Kabul. I can tell you that cryptocurrencies would not have saved them. As soon as other countries heard of the Taliban rising, they closed all embassies so nobody could get a visum. It used to be easy to get out of the country to atleast Pakistan, India or China but they too closed their borders when the Taliban march became to 'real'. With no passports, no visums and no money for 90% of the Afghan people, where would they go? As more and more provinces were being taken, more and more people were forced to go to Kabul. Most of these fugitives had fought against the taliban in their own province and were now forced to sleep in the parks, on the ground and in the parkings lots. The locals of Kabul spared them whatever food they could....... When the Taliban circled Kabul, hyperinflation occured. Prices of all foods skyrocketed out of fear of dying of starvation. Do you really believe cryptocurrencies could have changes this? I think not. Also what many people don't realise is that many in Afghanistan are UNBANKED. They only hold some cash and use it to buy stuff. Cash would be more useful in this scenario than having cryptocurrencies on some exchange or even in your wallet. What if they turn off the internet? They will surely censor a large part of the internet if not compeletly turn it off. I remember back in 2000, you weren't even allowed to listen to music, hold a wedding etc. I fear for my family but all I can do is pray. EDIT:
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| Posted: 15 Aug 2021 06:06 AM PDT
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| My Dad more than doubled his life-savings in less than a month with Chainlink Posted: 15 Aug 2021 11:27 PM PDT Well... damn.... sometimes gambles do pay off. My dad is retiring in a couple months and has been disappointed that he wasn't able to save up more (part of it is because he was planning on working 2 more years but due to financial issues with his company he's being forced to retire early). He's been hearing me talking about crypto for months now (mainly BTC, ETH and LINK), and had the idea of "what if I put it all in crypto and try and grow it?" As much as I love crypto I warned him to be very careful because although he could certainly gain a lot, he could also lose a lot, and may want to do just a portion. "Nah, I want to go big or go home", he said. After some careful consideration, he bought tens of thousands of dollars in Chainlink at the cost of $13.80 each on July 20th. He just called me 20 minutes ago to say that he sold 90% of it at $29 per LINK. The man literally more than doubled his entire life savings. It took him 20 years of slowly saving to get what he had, and he more than matched it through crypto in less than a month. His retired life will now be significantly more comfortable. And, wisely, he's holding onto the last 10% in case LINK blows up. All this said, it's important to remember that for every story like this there's a story of someone losing it all. But, I thought this was pretty incredible and felt like sharing! Edit: For those freaking out: He knew that no matter what he'd still get his monthly pension, which is decent but not enough to retire the way he wants. He's also been monitoring prices closely and knew if it suddenly dropped 20-30% he could sell - yes, he'd lose money, but not everything. Now, having doubled his money, he has enough to retire comfortably. [link] [comments]  | ||
| Ask me something about crypto and edit your question after I answer to make me look like an idiot Posted: 15 Aug 2021 06:55 PM PDT So I've seen this trending on some other subreddits andI've read some pretty hilarious comments. It seemed like a good idea to make something similar, but r/CryptoCurrency themed. Get creative, and most important of all... Make me look like an absolute idiot! [link] [comments]  | ||
| WALMART posts job opening for "DIGITAL CURRENCY AND CRYPTOCURRENCY PRODUCT LEAD" one hour ago Posted: 15 Aug 2021 12:28 PM PDT | ||
| People flocking to empty banks and ATMs in Afghanistan is further proof that we NEED crypto. Posted: 15 Aug 2021 12:47 PM PDT "The ATMs were all out of money, the banks were full of hundreds of people lining up trying to take out as much money as they could." Edit: My post was intended to make a much broader point than some of you took it for. Would crypto have helped today in this specific situation? Probably not. But is this why we need decentralized finance in the future on a larger scale? Absolutely! I think too many took my post to mean crypto would have helped right now, in this specific case in Afghanistan. That's not what I intended. Bad wording on my part. [link] [comments]  | ||
| What is one coin you'll never invest in? Posted: 16 Aug 2021 01:32 AM PDT What cojn will you, for whatever reason, never invest in? Whether it be ethical or personal. Mine is dogecoin. I hate Elon Musk (despite being a massive space fan, and all the things he's done for space), and feel like doge is "his coin". I know it has nothing to do with him, he was just some of the original hype. So, what coin will you never invest in? [link] [comments]  | ||
| I've earned more money staking crypto in a week, than I have holding it in my bank for 5 years. Posted: 15 Aug 2021 01:16 PM PDT I've had £1000 in a current account for around 5 years, it just sits there, it's an emergency account. Last week I staked £1000, stable coin, at 10% APY, today it went up by £2... I know it's not a lot, but I just love taking control of my own finances. [link] [comments]  | ||
| What I learned arguing with people who dislike cryptocurrency for 3 hours on reddit Posted: 15 Aug 2021 06:04 PM PDT So I spent way too much time going back and forth with a bunch of people on r/programming in a post titled "Cryptocurrency is an abject disaster" and I wanted to share some of my thoughts. I knew going in that most people in r/programming were not keen on crypto based on other posts I've read there. That surprised me when I first learned of it. What surprised me more was that, while members of this subreddit are obviously technical(and many of them very competent), the arguments and gripes and fears they had with regards to crypto were very similar to non-tech people. Here are a few common arguments that came up:
The impression I got from this experience was that non crypto people are not receiving up-to-date information about the technical progress made in the crypto space in the last few years. On average they believe that crypto has unsolvable energy problems, is valueless, and is a scam. I don't want anyone to go flame the thread obviously, and if you read my replies I think you'll agree I was not being combative. I also don't think they are dumb or operating in bad faith necessarily. I think they have created a caricature of crypto in their heads based on one or two articles and a handful of bad interactions with the crypto space (bitcoiners being too aggressive, moonbois, scamcoins). I think we could all be a little more compassionately informative and a little less frothy in terms of the price. After all, if we all believe this technology will make a profound, positive difference in the world, the price will not have a choice but to follow. [link] [comments]  | ||
| Bulish news - Walmart Hiring Digital Currency and Cryptocurrency Product Lead Posted: 15 Aug 2021 10:03 PM PDT
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| What’s your one “gamble”, and why? Posted: 15 Aug 2021 06:21 PM PDT We all have one. We all have the one project that is "going to change the world!" For me, it's $ERGO. However, for a while it was $SOL (happy to see that worked out!) I'm excited to hear what projects you're betting on that aren't well known! Leave your answers below :) Cheers! [link] [comments]  | ||
| Greed is back on the menu, boys! Posted: 15 Aug 2021 06:41 PM PDT
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| Posted: 15 Aug 2021 09:09 PM PDT
There was no reason to panic. infrastructure bill 👁️ 👁️Yes. Likely this was a reason for it. By reddit making these rules, they are assuring that Moons are decentralized, and they have not gave moons any monetary value why does that even matter? 👁️ 👁️If a crypto is decentralized, it means there is no central authority backing up it's value. so? 👁️ 👁️So... If there is no one authority backing up it's value, then it can't be regulated by SEC. In order for something to be regulated by SEC it needs a central figure to identity. This is why they aren't regulating Bitcoin. There is no central figure giving it value. There are countless people giving it value at their own free will. Reddit has no control over the Blockchain. If people decided to give it value, reddit holds no responsibility for that as they have stated it has no monetary value. There was no ICO. It's not a security . Over , done with, Period We should be thanking Reddit. If they said it had value, and told you it can be traded then SEC would be regulating reddit right now or in the future. That could mean NO MORE MOONS. SEC would ruin the sub had they were forced to remove moons. So be grateful. If you dumped off your moons I suggest getting them back before it's too late. Reddit has big plans for their Virtual goods sector. It's a great app. [link] [comments]  | ||
| Nearly 90% of all Bitcoin has already been mined Posted: 15 Aug 2021 06:12 AM PDT
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| So, A coin reached the Top 10 recently and it's pumping like crazy. Time to FOMO? Absolutely not! Posted: 15 Aug 2021 09:56 PM PDT So a coin that you've never heard of is suddenly in the top 10 and it's pumping? Is it the time to buy? Time to FOMO and not miss the gains? No! Stop falling for the same mistakes I did. Thrice! THETA (Down 52% from ATH) , ICP(Down 90% from ATH) , Filecoin (Down 69% from ATH) If a coin that you've never bothered to research or buy during it's nascent stage is doing well, let it play out. Wait for a correction. Only then you should enter. The price going parabolic means it's already in euphoria stage and it's rewarding the old buyers. The new investors will be left holding the bag in the next correction. Looking at you Solana Disclaimer: This is just my opinion and my personal experience. The projects I've mentioned aren't bad in any means. It's just that I bought them in the euphoria stage during the bull run and now holding the bags. I still hold them for the long term. [link] [comments]  | ||
| I’ll say it. XLM is indubitably underrated. Posted: 16 Aug 2021 12:30 AM PDT A lot of people are posting how X currency is so underrated (and for good reasons), but there is one thing that makes cryptocurrency a currency — you use it. And with XLM? It gets the job done so well, so fast, and so cheap. But wait is that the only thing?Apparently not. I think a lot of people lack awareness that Stellar has an in-built DEX. Even before Uniswap, Pancakeswap, Sushiswap were created, Stellar DEX has been in existence since Stellar Network went live in 2015. Just like other DEXs, you can trade Stellar tokens, wrapped tokens, stablecoins (lots of them) even stocks (yes you heard that right), and tokenized metals on Stellar DEX. The trading fees? 0.00001 XLM. How do you access SDEX? Because it is native to Stellar, you need either a Stellar wallet to access it or a front end UI. There are many of them. For Mobile App: For web: Since the only problem with SDEX atm is Liquidity for some pairs, Stellar will be launching AMM and Liquidity Pools that go hand in hand with SDEX orderbook to bootstrap liquidity. I believe that Stellar DEX will compete with Uniswap, Pancakeswap, Polygon DEX, and Terra to get a share of the total value locked on DeFi. Earn Yield Right on SDEXOn SDEX, you can earn 5% APY compounding daily for your XLM. Other yield assets include:
To know how, you should check this. And if you are into NFTsStellar also has an NFT platform called LITEMINT that's gaining momentum and love from artists because minting an NFT only costs 2 XLM. 🤯 Besides you can choose the currency of what you want to pay the NFT for: XLM, USDC, and other tokens on the network. The UI is also really sleek and gorgeous. And to think that this is built on top of Stellar with Simple Smart Contracts! And that's just about to get even betterTuring Smart Contracts are now live on Stellar and developers can already start building something more complex like this project building DeFi lending, derivatives, margin and leverage trading on Stellar. If you are a developer, and you want to build on Stellar using TSS, check it out here. So when people say that XLM is not great to HODL because it's so useful, I think it is ironic. The more useful it is, the more valuable it is, isn't it? And the value of XLM does not only lie on its fast and cheap transfers, because Stellar as a network is similar to Ethereum. You can build on top of it, you can issue any type of assets (metals, stocks, CBDCs, tokenized real estate etc.), and it is your choice as an asset issuer whether to set up restrictions or let it be fully decentralized. I think that is the beauty of Stellar. While other blockchain projects aim to dismantle or tear down the traditional finance, Stellar aims to bridge traditional finance to decentralize finance. And yes, both can co-exist. In sumStellar Lumens(XLM) isn't only a medium of transfer. Every asset added locks up XLM, every wallet requires 1 XLM, every asset issued needs XLM, every transaction costs XLM, and so does making trades on SDEX. As more users and institutions use Stellar, that lock up more XLM. And that's why XLM is so underrated. [link] [comments]  | ||
| A message to all new users: open your vault! Posted: 15 Aug 2021 04:51 PM PDT A message from openyourvault: open your vault! You might have read about moons and vaults on r/CryptoCurrency, but have no idea what it exactly is? Moons are crypto (worth about 32 cents each - https://coinmarketcap.com/currencies/moon/) based on the karma you earn on this sub. They are distributed monthly on distribution day (they say that this day feels like a Christmas morning, but then every 28 days). They are distributed to your vault, which is basically a wallet that holds the Ethereum based token, and can be tipped to other Reddit users on the sub (only if they have opened their vault as well), or send to another wallet or swapped for different kinds of crypto's. Now, how do you open your vault, openyourvault?
Want to read more about moons? Read the following guide for more info: https://medium.com/@amirhagafny/full-guide-convert-reddits-moon-cryptocurrency-into-e349ec1992d0 Edit: as u/darmendarizp said, make sure you save your seed phrase, and do not share this with anymore, or store the seed phrase online. With this seed phrase you can recover your vault, in case you are locked out. Edit 2: the Reddit Wiki Moon Guide can be found here: https://www.reddit.com/r/CryptoCurrency/wiki/moons_wiki [link] [comments]  | ||
| If you had $500 for crypto what would you buy now? Posted: 15 Aug 2021 05:25 PM PDT What to buy that is the question overall. I only have $500 to throw in. If you were me what would you recommend investing in? I'm trying to buy the rumor sell the news with ADA but VET is only $0.14 right now so I'm trying to figure out where to put my money. What could be a potential quick gain? Don't be too hard on me I'm new. Thank you 🙏 Edit: so many suggestions thank you to everyone for your time. this girl is trying to learn about crypto 💜 [link] [comments]  | ||
| Ethereum Network Capacity Increases 9% Since London Upgrade Posted: 16 Aug 2021 12:04 AM PDT
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| I deleted my seed phrase and sent it to my future me. Let's see how this experiment goes. Posted: 15 Aug 2021 03:38 PM PDT That's it. From a start, I appreciated that crypto changed my life for the better (cut my alcohol, cigarettes, nonsense expenses), but recently I caught myself checking the market so much that it made me stressed, inevitable moving chunks of my portfolio and losing a bit here and there. Well, now I don't care about the market. I put all my shitcoins and alt-coins into my cold wallet and destroyed, deleted, annihilated my seed phrase. Before destroying my seed phrase, I wrote it down and send it. As a letter and an email. To myself, in the future, like goddamn Doc in Back to the future 2. I used three different services to be sure that at least one will come. 2 of them are via email, one of them via physical letter (you can change address in case of moving). Those services are operating for almost 20 years, so I kinda believe they will be around in 5 years. In some cases, I dissolved that seed phrase in longer text, although even if someone would "steal" my seed phrase, they would not know from which wallet it is. I set the date for exactly 5 years from now. So I will be able to move my portfolio not sooner than 15.8.2026. Since I know I can't do anything about that, I deleted coinmarketcap, coingecko etc from my mobile phone. Right now I am outside reading a book. EDIT: I locked myself from an amount that I am willing to lose and can afford to lose/not be able to get when I need. I am doing this just as an experiment. [link] [comments]  | ||
| Safemoon is currently the worst performing "project" in the top 100 - Your thoughts? Posted: 15 Aug 2021 11:44 PM PDT Although I don't wish anyone to get tricked into losing money - I'm glad that Safemoon is on a safe trajectory to the trashcan But why? Well first of all I think that the existence of coins like Safemoon in the highest brackets of the market cap brings even more negative attention towards crypto and makes it even more vulnerable to being dismissed and laughable. Just reading that dumb name is enough for some people to be done Moreover I despise "devs" that prey on rookies savings. Those will always exist and succeed to some extent, but honestly the rate of people falling for those get rich schemes should get lower It has ultimately done some good by bringing more people into the market, but it's destiny imo was to teach the lesson to be careful with investing into shit with non existent fundamentals Since I've first heard it's name Safemoon was ironically the safest way possible to get your money in completely opposite direction contrary to the promised 🌑 sadly for most of the investors For cryptocurrency to evolve those stupid projects thematically based about getting rich fast need to evaporate Or am I throughoutly mistaken? What are r/cc thoughts? [link] [comments]  | ||
| Posted: 15 Aug 2021 09:21 AM PDT My previous post discussed and clarified what short and long positions are. What leverage and margin is, and finally what liquidation means. This topic will continue on that area by identifying the common types of orders a trader or investor can place. Hopefully this post will help newer investors understand some of the types of orders available and should be a relatively short post. If anyone is interested in previous past posts please see:
MARKET ORDERS Market order is intended for traders who wish to have their orders executed immediately. The order will be filled immediately at the best price available from the order book. A large market order may have market impact and increase trade cost. If you're unsure what an order book is then it's essentially an electronic list of buy and sell orders for an asset and is organised by the price level. LIMIT ORDERS Limit order is used to specify the highest bid price / the lowest ask price a trader is willing to accept. Traders use this order type to minimise trading costs, it's also important to know the order may not be executed if the order price is deep out of the market. If you're unsure what bid and ask are then basically The bid price is the maximum price that a buyer is willing to pay for an asset and the ask price is the minimum price that a seller is willing to take for that same asset CONDITIONAL ORDER Conditional order is a limit order or a market order taking effect when a specific condition is met. TAKE PROFIT AND STOP LOSS ORDERS Take profit and stop loss orders are an exit strategy that traders place ahead on positions to ensure timely and automatic exit. Stop loss order is used as a risk management tool to limit the loss of a position. Examples can be:
SLIPPAGE It's important to touch on slippage whilst on the topic of orders. Slippage tends to occur when the market is highly volatile and market orders are used. It is essentially the difference between the expected price of a order and the price at which the order is executed. Limit orders can help prevent slippage but there is a risk of the order not being executed and can occur if the market fluctuates quickly due to small window of time for the order to be executed. As always any topics you want covered just let me know. The following are topics I have on my list:
Edit: forgot to include but if you guys want me to do an AMA at some point in the future, just comment down below and let me know :) [link] [comments]  | ||
| Posted: 15 Aug 2021 07:51 PM PDT
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| Posted: 15 Aug 2021 09:52 AM PDT Hey y'all, I think I've seen the Mark Cuban news about him publicly backing DOGE like 10 times today alone. The man is a billionaire investor who is a particularly savvy guy, financially speaking (not bearing the whole TITAN thing). What do you think his reasons are for adopting a meme coin at his basketball games? He's rich for a reason, and it's usually because he's ahead of the curve. Please don't take what their public statements and opinions are for face value. They're in it for more of the thing that gives them power, and it's money. [link] [comments]  | ||
| Dogecoin is not ‘Strongest Crypto as Medium of Exchange' like Elon Musk and Mark Cuban claim Posted: 15 Aug 2021 10:13 PM PDT Mark Cuban referred to DOGE as the strongest crypto as a means of exchange Elon Musk replied, "I've been saying this for a while" to Cuban's comments. Dogecoin is nowhere near the strongest crypto if you want to exchange funds A Doge transaction costs about $1 on average. A XLM transaction costs $0.003, is nearly instantaneous and is used by many people to move funds while being accepted on all major exchanges There are also other cryptocurrencies which are also much faster and cheaper than Doge. Nano as example is sometimes even faster than XLM and transactions are free To Elon and Mark Cuban: Stop making things up to shill your favorite cryptocurrencies, it just makes you look laughable [link] [comments]  |
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