Cryptocurrency Daily Discussion - August 18, 2021 (GMT+0) |
- Daily Discussion - August 18, 2021 (GMT+0)
- Britney Spears has been using Bitcoin since 2014 to hide purchases from her dad
- 'Shark Tank' star Kevin O'Leary says financial middlemen will be left shining shoes when DeFi technology takes their jobs
- Hacker who stole $600mn from crypto platform offered job as its chief security adviser
- Shiba, the PONZI token….now they can’t give rewards on Shiba Swap because a dev has a “family emergency” PONZI schemes will always find an excuse to not pay back investors…
- Only 75% of People in Vietnam have Internet, but 41% Already own Crypto
- I sold 10 ETH at $250 and I don't regret it
- Whitehat hacker just saved $350 million worth of funds from SushiSwap
- Young South African Engineer accidentally deletes Computer File Containing Keys to 20 BTC this is the reason you need to backup your seed phrase
- If a million of us picked a random redditor and all donated just 1 Moon, we can make them Moononaire
- "We have a full staff of 120 employees. We work 24 hours a day." The largest #Bitcoin mines in Texas are making $83,333 per hour.
- THE quote of Satoshi Nakamoto
- I've resisted all fomo for the past 10 days. For me this is a huge milestone in my crypto journey!
- Grandpa Joe might not know much, but he knows enough.
- I'm relieved to see a few red days after constant green this month
- Bitstamp boss on dogecoin: We won’t list a crypto that ‘crashes on a billionaire’s tweet’
- I’m HODLing all the way till crypto goes mainstream.
- Don't stress out, dips are normal
- *** Mass adoption already started ***
- I have a investment cycle that works for me, and I'd like to share it with all of you.
- This IS Financial Advice: Don’t Listen to Some New Paradigm Nonsense You Read on Reddit.
- If 99% of the opinions you hear from people on Bitcoin are Fear, Uncertainty, & Doubt, and only 1% of people’s opinions you hear are positive. Then you should know, you’re still very early
- Seriously. Know the difference between a coin and a token.
- My list of 5 things I hope for when Crypto is mass adopted.
- Top 3 posts I never want to read again
| Daily Discussion - August 18, 2021 (GMT+0) Posted: 17 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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| Britney Spears has been using Bitcoin since 2014 to hide purchases from her dad Posted: 17 Aug 2021 03:59 PM PDT
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| Posted: 17 Aug 2021 09:06 AM PDT
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| Hacker who stole $600mn from crypto platform offered job as its chief security adviser Posted: 17 Aug 2021 07:44 AM PDT
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| Posted: 17 Aug 2021 03:01 PM PDT
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| Only 75% of People in Vietnam have Internet, but 41% Already own Crypto Posted: 17 Aug 2021 04:15 PM PDT
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| I sold 10 ETH at $250 and I don't regret it Posted: 18 Aug 2021 02:00 AM PDT My post got removed yesterday from a bot for, and I quote, "Your post has been removed because there are already 4 posts about Ethereum in the top 50.". Weird. Anyway, I bought ten ETH when they were $230 each. Now, you might be wondering why I wouldn't regret selling what is now some $30,000. To be fair, I don't beat myself too much for doing so for
So ultimately don't beat yourself up if you sold some coins for lower prices than we see today. I made a decision that was probably right for the time made it. Can't look In the future. I did what I did and I most definitely enjoyed it. People who were spending Bitcoin early were instrumental in proving that it had intrinsic value. Without people buying pizzas and Minecraft diamonds with BTC in the early days, Bitcoin wouldn't be where it is today. The guy didn't want pizza he set out intentionally to prove that BTC had value and spent a lot of time finding someone to buy him something. He should be thought of as a hero, not an idiot [link] [comments]  | ||
| Whitehat hacker just saved $350 million worth of funds from SushiSwap Posted: 17 Aug 2021 01:57 PM PDT
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| Posted: 17 Aug 2021 10:51 PM PDT
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| If a million of us picked a random redditor and all donated just 1 Moon, we can make them Moononaire Posted: 17 Aug 2021 05:03 AM PDT As you can already guess this idea is inspired from the famous r/millionairemakers sub. What sub better to run this better than our very own r/Cryptocurrency ? For people who are not aware the general premise is that Mods can take all the unique user comments from one post and use them as raffle entries, which they can put through a random draw to come out with one user who has won. Mods can just create a Public moon vault for the very purpose to which we can all donate and make the day of the winner with some considerable moons. So what do you guys think? Edit: General consensus from the comments is that only the people who donate 1 or more moons should be eligible. Which is actually sensible imo. [link] [comments]  | ||
| Posted: 17 Aug 2021 04:26 PM PDT
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| Posted: 17 Aug 2021 11:02 PM PDT Since there is more and more cryptocurrencies and more and more big figures that try to influence the market, I wanted to share what I think is the real importance behind the cryptocurrencies : "The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts." - Satoshi Nakamoto This is the quote who makes me believe in cryptocurrencies, and I really think that a better world is coming thanks to blockchain. Don't trust centralised exchanges, don't trust billionaires who want to pump or dump the price. Believe in the technology ! [link] [comments]  | ||
| I've resisted all fomo for the past 10 days. For me this is a huge milestone in my crypto journey! Posted: 17 Aug 2021 04:21 PM PDT The markets have been absolutely pumping the last couple of weeks. Just before the pump, I was accumulating funds for a coin I really wanted.. then boom! Each day during the pump, it was an internal battle... seeing so much green across the board. I must resist.. now is not the time! Its been 10 days and my exchange funds remain untouched. This may seem laughable to some, but for me it's a huge step forward. Hope you took advantage of the pump and took some profits 🤑 [link] [comments]  | ||
| Grandpa Joe might not know much, but he knows enough. Posted: 17 Aug 2021 05:38 PM PDT My father-in-law is currently shilling crypto to the rest of the family. I just got out of the shower and there were like 30 messages in a group chat. He's going on about how it's time to get in before crypto takes off. He said stuff about how defi is the future. He's asking me to weigh in and of course I totally have this dude's back. He doesn't know much about blockchain technology, but he's knows enough to recommend BTC, ETH, and ADA (I told the fam about ALGO and VET). He says, "now, I'm not very smart, so take this with a grain of salt…" I think he's brilliant. His motivation? Not riches. Not lambos. Not a private island in the Caribbean (my particular motivation). Nah. He wants to pay off his kid's student loans (we live in America) and to simply finance the educations for his grand children. I don't know. That's kinda cool. Just thought you guys would appreciate Grandpa Joe too. Edit: sorry I realize I was a tad confusing. He's not my grandpa but my father-in-law. We all just call him grandpa Joe now that he has a couple grandkids. Cheers! [link] [comments]  | ||
| I'm relieved to see a few red days after constant green this month Posted: 17 Aug 2021 07:47 PM PDT I got pretty concerned when we went from 30k to 46k without real major moves to the downside and my average has kept going up and up from DCA. Only in crypto where you will see people say "a 6% dip in a day is healthy." Enjoy yourself guys. And I'm enjoying buying the sub-3k Ethereum. [link] [comments]  | ||
| Bitstamp boss on dogecoin: We won’t list a crypto that ‘crashes on a billionaire’s tweet’ Posted: 18 Aug 2021 02:32 AM PDT
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| I’m HODLing all the way till crypto goes mainstream. Posted: 18 Aug 2021 02:48 AM PDT Crypto is still very veryyy young, and when it reaches mainstream status, this is where the REAL profits begin. [link] [comments]  | ||
| Don't stress out, dips are normal Posted: 18 Aug 2021 01:03 AM PDT The sub is full of new comers to the crypto space. Most of us didn't go through any cycle yet and may be freaking out with this dip. But this is normal, part of crypto volatility. I've started in late may, seen my portfolio 40% down by mid July, started recovering and got to 10% up last week. Now in even space but ready to get back to 40% down or more, even if it hurts. We have to think long term, protect ourselves by buying strong projects, not getting to much exposure to shitcoins and risky alts. In a couple of years we all will be fine. Probably not rich but with a sound profit. [link] [comments]  | ||
| *** Mass adoption already started *** Posted: 18 Aug 2021 02:50 AM PDT *** Guys you don't believe what I just witnessed**** Yesterday out of boredom ( was a bit high as well 🤣) I went to a Pentecostal church with my aunt , at the end of praying session two guys start to go around to receive donation offerings but as they guys came towards us I quickly noticed that one guy receives cash and the other one had some sort of iPad and was asking for crypto donation. I was like damnnn this can't be real . Jesus coin to the moon Bullish 🚀🚀🚀🚀 Ps: rises every 3 days [link] [comments]  | ||
| I have a investment cycle that works for me, and I'd like to share it with all of you. Posted: 18 Aug 2021 03:21 AM PDT Investing isn't that hard but it is time consuming. If you follow a particular pattern, you should be fine. There is one important factor in all of this, I don't do short-term trading, I only do long-term or once I achieved my initial goals that are clearly defined. How does this process work? Here is my investing cycle: STEP 1: DYORThis is the starting point if you are just starting, but I love to use this also as a Quarterly task where I evaluate my existing positions. The main goal is to research projects and coins. I usually stick to the TOP 200 projects based on marketcap. The main goal is to create a shortlist of coins that have some long-term potential. I use several sites for this process such as coinmarketcap, coingecko, reddit communities, searching google by finding trusted news portals, coins website, charts on exchanges, verified reports online etc. I never ever join any Telegram groups in order to do my DYOR, it's seriously affecting your ability to objectively judge the potential of an individual coin. The end result of this step is to gather and collect between 10 - 25 projects that have potential. Diversifying your portfolio is a advantage. STEP 2: MAIN LISTThis is the second part, and it takes most of my time. I usually spend a couple of hours per day to evaluate all the coins that have been picked in step 1. This step requires some in depth analysis as I am targeting my focus on some important metrics and ask some important questions such as:
Once I get detailed answers to these above-mentioned questions, I do my shortlisting. Usually, it ends up by choosing 5-10 coins which have met the above criteria. STEP 3: FUND ALLOCATIONOnce I managed step 1 and 2, the next step is ranking each coin from the one with the biggest potential and value towards the lowest. Let's assume that I have chosen 10 coins, and in many cases, 50%-60% of my funds are allocated to the TOP 3 coins equally while the remaining 50% or 40% are equally allocated to the remaining 7 coins. In this step it's important to establish a clear guideline how to rank these coins, usually taking in consideration all the answers acquired during step 2. STEP 4: SET YOUR GOALSThis is important. How will you measure your success? Define in the beginning the desired outcome. I usually ask myself the following two questions which define my goals:
STEP 5: ANALYZE THE MARKET - INVEST DURING A BEAR MARKET OR DURING DIPS.I avoid investing once the market is in an upward trend, such as in the middle of a bull market. Take time to analyze the market by doing some simple technical analysis. Trading view is a great example, you can analyze it there as it's offering a lot of valuable tools to do so. HERE is a great guide for trading view. If you can't time the market, it's not a worry, that is not easy to achieve, as it takes a lot of experience. I like to get into the market if the dip is more than 10% on a weekly basis or if the price is at least 20% below the last ATH. STEP 6: DCA (DOLLAR COST AVEREGING)This is a process of reinvesting into your existing portfolio during dips and bear markets. Define a strategy and a budget which you will invest into your portfolio during a defined period of time. For example in my case I am dedicating a fixed monthly amount which I will divert to my portfolio. I am waiting for a good timing within a month to enter the market and allocate my funds to a certain number of coins which I believe will perform better or which are undervalued based on the facts gathered from step 2 STEP 7: TRACK PERFOMANCE AND EXCLUDE EMOTIONSTrack you coins on a daily and weekly basis. Don't spend too much time on it and try to avoid FUD and FOMO. The most important part in crypto is to exclude all emotions - always stick to your strategy and to the answers that you gathered during step 1 and 2. STEP 8: EVALUATE AND UPDATE YOUR PORTFOLIO EACH QUARTERA lot of things tend to change during a period of 3 months. I am usually having a Q session where I repeat step 1 and 2 based on new findings during that period. This may require some re-allocation within your account, or it may happen that you will exclude a certain coin in order to add a new one. This is my strategy, it is giving me good results and I hope this could help you all to build your own trading strategy. [link] [comments]  | ||
| This IS Financial Advice: Don’t Listen to Some New Paradigm Nonsense You Read on Reddit. Posted: 17 Aug 2021 10:47 PM PDT Been seeing some really, really awful financial advice on here and some things need to be put to rest. Crypto is great, exciting, awesome, and possibly going to change the game forever. (To a degree it already has.). But there are A LOT of people on this sub putting the cart before the horse. And as a 2018 crash survivor, let me just say, everything you think you know about your special defi token or super rare NFT or upcoming exchange is probably bullshit. There's probably a greater than 99% that if you actively trade your crypto that you will end up on the losing end. FUD and FOMO are true animal spirits, and you almost have to work to actively kill your emotions not to feed into them. Foregoing that, you don't know when a major exchange is going to be hacked, or if countries start to ban and sanction other countries for trading in crypto, or if tomorrow it's your rug that will be pulled. EVEN IF YOU DCA AND HODL, DEPENDING ON THE COIN, THAT COULD END TERRIBLY. Look to the top 30 cryptos of January 2018. That's only a little over 3 years ago. Spare change in the Wall Street World. And yet, so many of those projects have gone to practically nothing. Yeah BTC and ETH are likely to be long term winners, but who knows? There are an infinite number of unknowns in the crypto space, the tech is still for the most part very new, and nobody can foresee what effects government meddlings will have. I keep seeing dumb shit on here about how opening a 401k is stupid or too risky or how crypto is so much more lucrative. Here is how dumb it is to turn down a 401k.There is a ton of misinformation on this subject. For one thing, 401ks run by a company are typically managed to be more speculative when you are young and more safe and conservative as you age, meaning they diversify more into bonds which have a small guaranteed growth rate as opposed to volatile stocks which have risk to a falling market. They typically average between 6-8% growth a year. Now imagine this: your company matches 4% for every 5% of your paycheck you put in. You make $1000 a week for easy math. In this scenario, you are giving up $50 fiat for $90 investment. BUT, in America, that money is untaxed, but would be taxed if you didn't put it in a retirement plan and just kept it as take home pay. Let's say you would lose another 28% to taxes. You are now taking home $36 a week in place of investing $90. At one year you are giving up $1872 in take home pay to invest $5400. Pretty sweet deal right? Except this is where compound interest is important. ESPECIALLY for you young bucks. Let's conservatively say your 401k grows 6% a year. Pull out your calculators. That $1872 is only going to every be worth 1872. Save it, use it to get Rover's nails done, whatever. However, that $5400 invested over 30 years @ 6% interest? $31,014Yeah. $1900 bucks given up to make over 16 times that in retirement. And that's NOT including dividends, tax disbursements, stock splits, or any other incentives that come with a 401k. (I recognize a 401k is America specific, but still, compounding interest exists the world over. This is just an example) Don't get me wrong, crypto may well be what replaces anything, but it is still 95% speculative or more, and as a 2018 ETH buyer at the top WHO WATCHED IT FALL 93% AND STILL HELD, I can tell you the -only- reasons I didn't sell is I only invested what I could afford to 100% lose and I believed in the project. Can you say the same about VET? CUMMIES? DOGE? BNB? NANO? If you can, good luck. There are absolutely hundreds of people who made millions off of all those projects… at the expense of hundreds of thousands of others. TL;DR Invest whatever you like in crypto, but don't bet a healthy retirement on it because some jackass 19 year old on Reddit thinks 94% APY on CAKE is going to make you a zillionaire. The old adage still applies:: if it sounds too good to be true, it's probably a rug. [link] [comments]  | ||
| Posted: 17 Aug 2021 09:44 AM PDT
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| Seriously. Know the difference between a coin and a token. Posted: 17 Aug 2021 12:50 PM PDT Coin and token are not interchangeable and it peeves me off when they call Bitcoin a token. Coins are crypto originating from their native blockchain, those that are created from the start as blockchains are given birth. Tokens are crypto built on top of a blockchain with smart contracts enabled. BTC, ETH, BNB are coins, for example. Tokens are stuff like USDC, UNI, AAVE, which are ERC-20 tokens on the Ethereum blockchain. [link] [comments]  | ||
| My list of 5 things I hope for when Crypto is mass adopted. Posted: 17 Aug 2021 09:18 PM PDT
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| Top 3 posts I never want to read again Posted: 18 Aug 2021 01:01 AM PDT 3: Any post that complains about moon farming posts. Actually much more annoying than sincere moon farming posts. Hypocrisy. 2: Every posts that starts with 'unpopular opinion'... It NEVER is an unpopular opinion 1: How crypto could have saved Afghanistan. I mean, seriously?!?! So rant is over. Have a nice da, everyone 😊 [link] [comments]  |
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