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    Cryptocurrency Daily Discussion - August 28, 2021 (GMT+0)

    August 28, 2021

    Cryptocurrency Daily Discussion - August 28, 2021 (GMT+0)

    Daily Discussion - August 28, 2021 (GMT+0)

    Posted: 27 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 The prior exemption for karma and age requirements is no longer in effect.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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    Flash loans: a dive into DeFi’s most bizarre, outlandish, and intimidating innovation. If you’re not yet familiar with flash loans and how they work, this will probably blow your mind.

    Posted: 27 Aug 2021 12:48 PM PDT

    Warning: Very long (but also super interesting, I promise)!

    What if I told you that you could anonymously borrow $200+ million dollars in the blink of an eye without posting any collateral, and without even assuming any liability for the loan?

    This sounds impossible on many levels, and would be an outrageous concept in traditional finance, but it is a reality in DeFi. With a little effort, you could be borrowing millions of dollars by the end of the day with no collateral.

    Of course, there are a few limitations that I have not yet mentioned. For one thing, as far as I know, there is still no user-friendly way to do this. You would need to be able to write and deploy the Solidity smart contract yourself (there are a few guides on how to do this floating around the web). Eventually, it is expected that Aave and other protocols will offer flash loans in their user interface rather than requiring that you interact directly with their lending pools using your own smart contract.

    The next limitation of flash loans is absolutely critical: the loan must be repaid (with interest, which is usually a bit under 1%) within seconds of when you take it out. More specifically, it must be repaid by the time the Ethereum transaction ends.

    The third limitation is that everything you do with the funds in between borrowing them and returning them must happen inside the Ethereum ecosystem; you cannot move those assets off the Ethereum network.

    This still doesn't make sense, right? What happens if you don't or can't repay it? What does it even mean to repay a loan inside the same transaction that you took it in? What is the point of having $200 million for 10 seconds? To answer these questions, we need to take a look at how flash loans actually work.

    The first thing we need to understand is Ethereum transactions. Thanks to smart contracts, Ethereum transactions aren't just a simple transfer of assets; they can contain any arbitrary logic. Moreover, these transactions can contain more transactions inside themselves (and these transactions can even contain transactions in themselves). So, Ethereum transactions can nest in each other. The top-level transaction can only succeed if every single transaction it contains also succeeds.

    This last sentence is a very important concept known as atomicity (which comes from ancient Greek for "indivisible"). For smart contract platforms, the property of atomicity means that a transaction must either entirely succeed or entirely fail; it can't partly succeed. So, if a single sub-transaction inside a top-level transaction fails, then the entire top-level transaction will fail, which means every sub-transaction it contains will fail, and therefore nothing at all will actually happen on the blockchain, besides a record of the failed transaction.

    Only once a transaction has fully succeeded is it added to the blockchain as an immutable fact of history. Until that moment, everything that happens on the Ethereum network is reversible. Ethereum knows how to backtrack any arbitrary sequence of transactions in the case that the parent transaction has failed.

    For example, let's say I make a transaction containing 3 sub-transactions; one involving borrowing something on Aave, another involving selling something on SushiSwap, and the third involving buying something on Uniswap. Now, let's say the Aave transaction succeeds, the SushiSwap transaction succeeds, but then the Uniswap fails (due to insufficient gas limit for example). This failure causes the entire top-level transaction to fail, which will cause the SushiSwap sell and the Aave borrow to reverse. In effect, those things never actually happened. All that is added to the blockchain is a record of that failed transaction that was attempted.

    If, however, all 3 transactions succeed, then the top-level transaction will complete successfully, and it will then be added to the blockchain, meaning all 3 sub-transactions have actually happened, and now can't be reversed.

    This finally brings us back to flash loans. When you take out a flash loan, an Ethereum transaction begins. The first sub-transaction inside this top-level transaction is the actual transferring of the funds you are borrowing to your address. Next, you are free to do any sequence of transactions you like in order to try to turn a profit on the funds you've borrowed. You can interact with any protocols, DEXes, AMMs, or whatever kind of contracts you like, in whatever way and whatever order. The only limit is that you cannot move the funds outside of the Ethereum network; otherwise, you would simply be able to take the money and run, since the loan is anonymous and uncollateralized.

    No matter what sub-transactions you include in the smart contract, the very last sub-transaction of a flash loan must always be full repayment of the loan with interest. If you succeed in repaying the loan and interest, then the entire flash loan transaction will complete successfully. The lender will get their funds back plus interest, and you get to keep any additional profits you managed to create with whatever you did between borrowing and returning the funds. This entire transaction will now be added to the blockchain as an immutable fact of history.

    If, however, you cannot repay the loan with interest by the end of the top-level transaction (say you somehow managed to lose some of the funds in the few seconds since the flash loan started), then the final sub-transaction (the repayment one) will fail. Due to atomicity, this will cause the whole flash loan transaction to fail, meaning every sub-transaction will fail, reversing every action taken by your smart contract, including even the first sub-transaction in which you received the borrowed funds.

    In other words, if you can't repay your flash loan with interest by the end of the transaction, then you never even borrowed the funds in the first place! Flash loans are thus kind of like Schrodinger's loans: if they turn a profit, then they are real; otherwise, they never existed.

    So, how does one actually use the funds to turn a profit during the few seconds between the beginning and end of the flash loan transaction? The only real use-case people have worked out so far is arbitrage (the act of taking advantage of a price difference between two markets for the same asset, and then buying in the cheaper market and selling in the more expensive one and pocketing the difference). So, a realistic flash loan smart contract would most likely involve a bot that is searching for sufficiently large arbitrage opportunities, and then, upon finding one, taking out a huge flash loan, using those funds to execute the arbitrage play in a huge way, and then repaying the funds and pocketing the profit.

    In a sense, a flash loan is like a brief, anonymous partnership between two parties who each bring an important resource to the alliance. The lender(s) is basically saying "I have tons of money and am interested in multiplying it, but I don't have the patience or know-how to do it". The borrower is basically saying "I have extensive knowledge of DeFi, smart contracts, Solidity, and arbitrage, so I know how to multiply money, but I don't have enough capital to make it worth my while". For a few seconds, these people anonymously join forces, and, if it works out, the lender walks away with their 0.9% interest, and the borrower walks away with the remainder of the profits. If it doesn't work out, then the flash loan never happened in the first place; no harm, no foul.

    These parties can sometimes walk away with millions of dollars in profit after a 10 second transaction, and neither party assumes any risk at all for the flash loan (besides inherent smart contract risk). If it doesn't work out, it simply never happened; this is why you don't need a credit check or collateral or anything. The lender doesn't need to worry about a loan default, and the borrower doesn't need to worry about being saddled with debt liability.

    So, if people can anonymously borrow huge amounts of money with no risk for either party, why are flash loans not mainstream?

    Well, for one, they are quite a new invention. Moreover, they just feel wrong. Flash loans don't really sit well with anyone. It feels like having your cake, and eating it too. It just seems like it shouldn't be possible to borrow $200 million with no risk (by the way, there is no theoretical limit to flash loan sizes; I just keep saying $200 million because I believe that's the biggest one ever taken so far. It's only limited by lending liquidity).

    For these reasons, flash loans have seen slow, hesitant adoption among DeFi protocols and users (even extremely savvy ones). Nevertheless, for people who are actually willing to learn how to write flash loan arbitrage contracts, it's basically free money sitting on the ground.

    One final reason that the crypto world has been very hesitant in embracing flash loans is that they have been used for a few high-profile DeFi exploits. Basically, some extremely savvy users have found ways to use flash loans combined with complex strings of interactions with various protocols in order to do things like momentarily trick price feed oracles or briefly de-peg stablecoins on a single exchange, or whatever. Flash loans allow these exploiters to drastically multiply how much profit they can get from their ploys. These attacks require extremely deep knowledge of all the protocols involved, and often involve 4 or 5 steps, all very nuanced and clever. These exploits have all been immediately patched when they happen; after all, the vulnerabilities exist not in the flash loans themselves, but in whatever protocols are used in the exploit. If someone can do these exploits with flash loans, then somebody else who simply has that much money to begin with could have done the exact same thing.

    (By the way, if you're looking for deeper and more challenging reading on flash loans, I highly recommend looking up the couple major flash loan attacks that have happened. They are extremely interesting, nuanced, and ingenious, regardless of your position on the ethics surrounding them.)

    Because the only news stories that even mention flash loans have been about the 2 or 3 big flash loan attacks, most people have only ever heard of them in the context of exploits, and thus most people associate flash loans with nothing but hacks and attacks.

    I am sure the day will come when they will be normalized, but today is not that day. One thing is sure though: they can't be de-invented. The cat is out of the box. As long as there are DeFi protocols willing to support flash loans and DeFi users willing to use them, then they will be forever available to anyone willing to take the plunge.

    Anyway, this is getting atrociously long, so I will end it here. I hope you enjoyed the read, and that it has left you as intrigued by (and as uncomfortable with) the idea of flash loans as I am!

    EDIT: Many commenters have mentioned something very valid that I forgot to include. You must pay the gas fees for the transaction, whether it succeeds or fails. These gas fees can be pretty high if there are many complicated sub-transactions. So, technically, you can lose money taking flash loans due to gas fees. You just aren't subject to liability for the loan itself, and the lender is not subject to default risk.

    EDIT 2: I realized that I implied flash loans only exist on Ethereum simply by not mentioning any other blockchain. In fact, they are on BSC also, and I think I've heard they've come to a couple other chains as well. I just default to talking about Ethereum because it is the ecosystem that I am most familiar with.

    submitted by /u/pseudoHappyHippy
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    Scammers are now giving you their seed phrase

    Posted: 27 Aug 2021 10:55 PM PDT

    I just saw a post where the OP posted a seed phrase. He said it was a treasure hunt of some sort. It seemed suspicious so I did some research. I saw this article about rotten seed phrases. It's somewhat different but the same principle is applied.

    Basically, what the scammer tries to do is trick a user into installing a wallet using a compromised seed phrase that the attacker has access to. Once the rotten seed phrase has been imported, the scammer waits for the user to add funds to their wallet, and then drains the accounts.

    First of all, if it's not your seed phrase, don't access it. Second, if it's too good to be true, it probably is. Third, be vigilant. Everyone is vulnerable to being scammed.

    ​

    TLDR: You guys remember when people across the US and some other countries received mysterious seeds, this is exactly like that. Don't use them.

    submitted by /u/AlcoholicShinobi
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    Thomas Jefferson: I believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.

    Posted: 27 Aug 2021 06:55 PM PDT

    Ethereum Chain Splits Due to Bug: Devs Urging Users to Avoid any ETH Transactions

    Posted: 27 Aug 2021 01:12 PM PDT

    What’s the worst crypto decision you’ve ever made?

    Posted: 27 Aug 2021 10:43 PM PDT

    I have made several bad trades since 2017. One of the worst trades I've ever made was selling 69 BNBs for $30 each and never buying them back. And buying few ETHs for $150 during the crash and selling them for 250.

    I'm the king of bad trades. I always tell my friends to HODL, DCA, never FOMO and never Day Trade but I never follow these rules myself and it had cost me dearly in the past.

    So I'd like to know what are the worst trades you've done till now and feel slightly better about myself. ¯\_(ツ)_/¯

    submitted by /u/John-McAfee
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    Update in the SEC vs ripple labs case. The SEC is refusing to hand over documents in regards to their internal trading policies. Even after being ordered by the judge….twice.

    Posted: 27 Aug 2021 10:41 PM PDT

    What you are seeing here is elite corruption at its highest level. The SEC is refusing to hand over internal trading policies in regards to staff and their holdings of securities.

    Basically the SEC allowed staff to own Xrp up until 2018/2019. They emailed 3rd party investors (you and me) in late 2020 and stated they had not made a determination on Xrp's security status.

    Yet they are suing ripple, Brad and Chris for breaking securities laws from……2013. There is a hearing coming up in regards to these documents…..again.

    The SEC is nothing but a gangster organisation who litigate for fines which is their source of revenue. The Ripple lawsuit has given the public a look behind closed doors to see how utterly corrupt they are.

    Like Elon said on 60 mins

    "I have no respect for the SEC"

    submitted by /u/Lemonmule69
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    Can we stop lying to each other? ETH fee problem cannot be solved easily without more centralization

    Posted: 28 Aug 2021 02:20 AM PDT

    There's too much misinformation about gas prices and it's unproductive and misleading users giving them false hopes.

    Everyone can see on their own that gas prices are beyond ridiculous. People are losing serious money on NFTs for failed transactions or paying more in fees than the actual value of transaction. Misinformation is not helpful.

    Some people were giving hopes that EIP 1559 will fix gas prices but it does not do that. EIP 1559 tried to fix overpayment by making fee estimation easier. It's not a scaling solution or fee reducing solution.

    There are posts now saying that ETH 2.0 will fix everything. That's once again wrong information. Changing to POS will not solve fees or scalability.

    Sidechains like Matic can fix fee problem. EVM clones like BSC can fix it. But as you know these are completely centralized solutions.

    Rollups can fix it. There's two types of rollups. One is zero knowledge rollup and other is optimistic rollup. Rollups execute transactions on separate chain, compress a batch of transactions and post it to main chain.

    The difference between zero knowledge and optimistic rollups is on how they prove validity of a batch of transactions.

    Zero knowledge rollups are very computational intensive. Optimistic rollups is based on trust and it can have vulnerabilities if the value of transactions is high enough for bad actor to take advantage.

    ETH network is already centralized on first layer because of nodes and dapps depending on Infura. Even Metamask depends on Infura. Infura is a third party centralized service.

    The reality is there is currently no easy fix for gas prices without adding more centralization and security risks. Let's try to be honest about it and stop spreading misinformation.

    submitted by /u/BtcAnonymouse
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    The fact that half of everything in crypto space is not user friendly, just proves how early we really are.

    Posted: 27 Aug 2021 09:41 PM PDT

    I remember when I was kid trying to set up xbox live by myself because my parents didn't know what a router was or anything like that. Most of my friends parents had no idea and we all had to figure it out for ourselves. I did a couple hours of research on ethernet cables, wireless adapaters/cards and routers. Long story short I had to use my own money to buy a router and the wireless adapter for the Xbox (that thing was like $100 AKA mowing my parents lawn 10 times lol) Then a few more hours messing with the settings to actually get it connected to my xbox and change my NAT type to OPEN instead of CLOSED, yadd yadda finalyl after a few days I finally got it connected.

    Now with the new gen stuff, you just turn it on and type in your password and you're online.

    Compare that to the crypto space we are in. You have to spend at least a couple hours researching to even begin to understand just one single coin. Many people are too lazy to do this. Many people still think it's a scam. The older people often think it's too difficult and that they are not qualified to be in crypto. Which is fair I'd say right now. It's not difficult, but I could see how you could really fuck up quote easily (which I think almost everyone has done anyway).

    The fact this isn't user friendly yet, means we are still in the beginning phases my friends. Just sit tight and hold on!

    submitted by /u/SlappySpankBank
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    What made you get into Crypto?

    Posted: 28 Aug 2021 01:50 AM PDT

    There multiple *Reasons for which a person could get involved in Cryptocurrency and it interests me to hear the stories, I'll tell you some* :

    1. This One is Mine, I was scrolling on Instagram and by mistake I clicked on a page that posted a Cryptocurrency-related Meme.

    Mainly it was Dogecoin (I know, you hate me now). But then I got in deeper and started to invest more now I got BTC, ETH, ADA and ofc Dogecoin.

    i've been HODLing since May and last Month I was 6k$ Down, and now only 1,5k$, I didnt sell then, there's no reason Im selling now or at least before next April.

    1. Some of my friends have interest in betting and they got into Crypto to day Trade A.K.A gambling, mostly they're losing money.

    2. Some of my friends got in because their friends got early on the BTC Train and now they're freaking Rich.

    3. Lockdown and Covid.

    4. Boredom.

    5. ~Unemployment~.

    6. ~Bad~ Previous Experienceswith Banks.

    7. Decentralised Finance.

    8. Wanting to be Rich

    So what made you get involved in Cryptocurrency and increased your risk of Heart Disease?

    submitted by /u/One_Molasses_8415
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    A simple calculated scam that even smart people can fall into.

    Posted: 27 Aug 2021 11:47 PM PDT

    Disclaimer: This is JUST for awareness purpose. Don't get ideas from here lol

    This is not the traditional scams that you're used to. Its a different approach and can fool even intellectuals.

    Ok, so here's how it works. You know the old old saying that goes "A broken clock shows correct time twice a day"? This scam is similar. The scammer makes a list of predictions like:

    1) "BTC will hit 50k by the end of the week!"

    .

    2) "BTC will hit 60k by the end of week!"

    .

    3) "BTC will hit 70k by the end of week!"

    .

    4) "BTC will dip to 30k by the end of week!"

    .

    5) "BTC will dip to 25k by the end of week"

    And sends Prediction no. 1 to 5000 people. Prediction no. 2 to the next 5000 people and so on. Now he has 25,000 people on his inbox. And after the EOW (end of week), its highly likely that one of his predictions went right. Meaning...5000 people that received his message found his prediction to be true.

    He again makes 5 predictions and sends them to these 5000 people. One prediction to 1000 people. By the EOW, again one of his predictions will be correct and the 1000 people will find his prediction to be correct for the second time. He continues the cycle for 3,4 rounds more which further increases his credibility.

    By the end of 5th week, there will be 8 people left, who saw that he made 5 predictions correct in a row. Anyone who saw that will be moved by his predictions. Now EITHER the scammer approaches the victims himself and offers them to to provide them further tips but only if they pay a certain amount OR the scammer could take a sample of larger no. of people like 100k/200k people and be correct for 10/20 weeks and for sure the users will message him themselves and fall for the bait.

    Quite a simple scam but could easily get anyone.

    submitted by /u/riicky_morty
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    Algorand and the near future

    Posted: 27 Aug 2021 10:11 PM PDT

    This is just a reminder for anyone invested in Algo that their new governance program starts in a month. I would suggest that you move your coins to their native wallet and stake there. When the new program starts rewards could be as high as 33% AND the first round will also pay the 7% staking. At a minimum it will reward 7.7%+ the 7% staking rewards.

    Just remember you have to commit your coins for 3 months and participate in governance voting. You can simply allow your vote to be cast with the Algorand foundation instead of actually voting. Your coins are not locked but if you withdraw them early you lose any rewards.

    Coinbase currently takes almost half the staking rewards for themselves right now (3%) and I would bet that most if not all of the new governance program rewards end up in their pocket. Keep your money for yourself!

    Oh and unlike 400 gwei fees for ETH you can move ALGO for fractions of a penny.

    Edit: https://algorand.foundation/the-algo/algo-governance

    Someone asked for a source so here's the link directly to the Algorand Foundation with corresponding links to all the info you need. Also I was wrong and it could be as low as 7.7% not 13.

    submitted by /u/DefiantHamster
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    Economist Who Said The Internet Would Fail Says Crypto Is For Tax Cheats And Criminals

    Posted: 27 Aug 2021 05:44 PM PDT

    Crypto analyst who called ethereum's climb to $3,400 reiterates a $10,000 call

    Posted: 27 Aug 2021 02:35 PM PDT

    $142M in shorts got liquidated and 38k traders got rekt in the past 24h.

    Posted: 28 Aug 2021 12:45 AM PDT

    $142M in shorts got liquidated and 38k traders got rekt in the past 24h.

    Welcome back to the daily dose of liquidation, a reminder to not mess with leverage unless you know what you're doing.

    In the last 24 hours, 38,806 traders were liquidated on their positions which add up to over $197M.

    In the context of cryptocurrencies, forced liquidation happens when the investor or trader is unable to fulfill the margin requirements for a leveraged position.

    72.18% of them were short positions, which add up to $142M. The other $55M were in long positions.

    The biggest single liquidation happened on a BTC trade with a value of $3.62M.

    $108M were liquidated on Bitcoin.

    $38.16M were liquidated on Ethereum.

    $11.78M were liquidated on XRP.

    The rest were liquidated on various altcoins.

    Source: https://www.bybt.com/liquidationdata

    ​

    Total Liquidations

    ​

    Symbol Liquidations

    submitted by /u/omeri_e
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    You are all making history right now. Don't take it for granted.

    Posted: 27 Aug 2021 06:33 AM PDT

    I'm a 57 year old truck driver who has been privileged to watch every iteration of technological evolution from the tech revolution of the 70's and 80's to the MAJOR evolutionary step of Blockchains .

    We are currently witnessing ( and are a part of) the biggest technology evolutionary step since the introduction of the internet in the mid 80's.

    " Experts" were saying the same things about the internet they they are saying about Crypto..." It's a fad and will never work". " This will never be used by the average person" " It will never replace ( old tech here)".

    I remember when NASA's " Super Computer" had less memory and processing capability than the outdated cell phone you gave your two year old. 1.5G hardrives were considered " overkill" . Processors were as big as your fist and waiting 30 seconds for a simple JPEG to load was considered " lightning fast".

    My point here is, my generation took it all for granted. We didn't appreciate the historical significance of what we were witnessing, what kind of power and control we were being handed.

    Don't let this happen to YOUR generation. Appreciate the significance of blockchains, the tech and case uses behind your favorite currency. Make sure you fully grasp how important this all is. As a community, maybe we should concentrate more on the tech than the monetary value.

    You aren't just investing. ..You are all part of history. You are all helping improve our world. Take pride my friends. Sorry so long, just needed to get this off my chest.

    EDIT; For those who have given awards, my apologies...my chat is not working atm but Thank you all.

    UPDATE; Been driving all day and just got to check back in. Holy Smokes what a great response. I originally wanted to address every comment, but that won't be possible. Thank you all so much for reading this and commenting. It gives me hope.

    submitted by /u/Apprehensive-Bus1610
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    Hardware Wallet on Ebay

    Posted: 27 Aug 2021 11:34 PM PDT

    Hey everyone,

    just a quick remember to remember your friends and family to not buy a used crypto wallet on ebay. One of my family members just told me he wants to buy a crypto wallet and send me a link of a used one on ebay. The discription basicly says: "almost new ledger Hardware wallet - Modell X - I've created the seed phrase for you, so you dont need to do anything". Always teach your friends and family how importend the seed phrase is!

    Edit: Sorry for my bad english, I am not a native english speaker.

    EDIT: I reported this offer, but ebay don't delete it because they don't know how crypto works

    submitted by /u/TBStyler
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    Throwback to this man begging people to buy at least $1 of Bitcoin back in 2013. $1 of Bitcoin from the date of this video would now be worth $426 after appreciating a very humble 42,508%

    Posted: 27 Aug 2021 04:11 PM PDT

    r/cryptocurrency entered top 100 subreddits!

    Posted: 27 Aug 2021 02:50 PM PDT

    r/cryptocurrency is now in top 100 of the biggest subreddits according to https://subredditstats.com/. We have left behind such juggernauts as r/iphone, r/xboxone, r/pokemongo, r/malefashionadvice and, last but definitely not least, r/Bitcoin. r/Bitcoin is right behind us and should also enter top 100 soon! Two crypto subs in top 100!

    There's no crypto-related sub that is bigger than us and there are only two investment-related subs that are bigger than us I think (r/wallstreetbets and r/personalfinance)

    In the beginning of the year there were only around 1.2 million subscribers.

    Our journey continues

    submitted by /u/excalilbug
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    What under-rated project are you invested in that you believe truly has the potential to explode in the coming years?

    Posted: 28 Aug 2021 02:32 AM PDT

    I'm not talking about the obvious ones such as LINK, ADA, MATIC, etc.

    I'm talking about the lowkey ones in the 200-400 range on coinmarketcap/coingeko.

    Not pump & dump schemes or shitcoin memes, or half-assed projects.

    Something that has a solid backing behind it (that people just don't know about yet due to reasons such as low marketing efforts) or a very innovative idea that can come to fruition with enough effort.

    It has to be a project that does something different that the coins in the top 10-25 dont do. A project that solves a future problem/does something specific, really, really well.

    I really feel like we're in the early stages of a crypto surgence and I still feel there is time to invest in some solid projects that have a low market cap.

    Would love to hear some good advice/opinions on why this project will be around, and why you will HODL for the next few years.

    Cheers!!

    submitted by /u/PinguForever27
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    Peoples Bank of China calls Bitcoin a Scam again after making it Illegal for the 2nd Time this Year, but Bitcoin Price still does not Care

    Posted: 28 Aug 2021 03:26 AM PDT

    Cardano (ADA) to launch Ethereum ERC-20 convertor on testnet shortly

    Posted: 28 Aug 2021 01:15 AM PDT

    I'm 20 and the fact that everything I'm saving is in cryptocurrency makes me happy.

    Posted: 28 Aug 2021 03:21 AM PDT

    I'm from a country where you need to maintain a minimum balance of 1K$ or you get fined 7$ every month. During the pandemic I didn't have much money so my bank account went to -50$ for doing absolutely nothing.

    Even if I do save up and keep it in my bank account, all I get is an laughable 1% APY Max. So if I save up 10K in the savings account I get back the amount I saved in 100 fucking years.

    That is if the banks don't close down and I'm still alive. Crypto on the other hand has ETh and BTC apy of 5%, and staking option that multiply my investment under a year.

    I know it has more risks than the bank account, but I can at least realize my savings before I die and the fiat is worthless due to inflation for my kids.

    submitted by /u/_DEDSEC_
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    Why Tezos soon will be the biggest NFT Blockchain

    Posted: 28 Aug 2021 04:03 AM PDT

    Ethereum is currently the biggest NFT blockchain by far, however as ETH still has problems, more and more people have been looking for other blockchains to mint and collect their NFT´s.

    That has contributed to the rise of marketplaces like Hic et Nunc (HEN) on Tezos. In this post I argue for why Tezos might soon become the blockchain most popular for NFT´s. First lets take a look at existing NFT projects on Tezos and up coming NFT projects on Tezos.

    ​

    Hic et Nunc (HEN) - The single most popular NFT marketplace on Tezos. A single NFT recently got sold for over $150k.

    Kalamint - Popular curated NFT marketplace on Tezos. Kalamint is partnering with leading Virtual Reality company Virtualware to merge NFT´s and virtual reality together. Kalamint is an awesome platform with a growing community. They are working on combining art and virtual reality.

    Objkt.com - NFT markerplace on Tezos that connects the different NFT platforms on Tezos

    Interpop - Comic NFT´s and more

    Emergents - Trading card game built on Tezos

    Bazaar Markets - Carbon offset NFT marketplace

    Truesy - Highly curated NFT marketplace

    RadionFM - Music radio streaming platform where you also can buy music NFT´s.

    TZcolors - One of the first NFT platforms on Tezos. Only colors!

    Mandala - NFT project

    Golden Goals (just launched) - Football/soccer NFT´s. Partnering with European football teams to launch NFT´s.

    Opensea - The worlds biggest NFT marketplace will soon integrate support for Tezos token standards and Tezos NFT´s.

    OneOf (launching soon) - Music NFT platform that raised $63 million. Will feature artists such as Doja Cat, John Legend, H.E.R, Jacob Collier and many more famous artists that will launch music on OneOf.

    Versum (launching soon) - NFT marketplace

    Minted (Launching soon) - Minted is a platfrom that aims to combine NFT´s with social media. A full fledged NFT social media platform. Rarity tags on NFT´s and comment sections + more. Social media profiles for everyone.

    Red Bull - Launching NFT´s on Tezos soon

    Mclaren - Building a NFT platform on Tezos

    Ubisoft - Planning to launch NFT´s on Tezos soon for their games.

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    There is also a bunch of NFT collectibles coming to Tezos. The different collections on Tezos has been exploding. Tezos has very cheap gas fees, less than 1 cent. It takes 30 seconds or less for a transaction to go through, but this will soon be improved more. It is much cheaper and faster than Ethereum.

    Furthermore, Tezos is one of the most community driven crypto/blockchains. Tezos has always been about the community and the decentralization. Which also makes it a good platform for NFT´s. Compared to other blockchains, Tezos focuses more on decentralization and will be seen as a platform for and built by the people, and not by rich venture capitalists. Tezos was decentralized from the beginnning with on-chain governance, the vision was always decentralization. Tezos is loved by people, but also loved by companies and people looking to build serious innovative applications. Tezos has emerged as one of the industry standards blockchains for companies looking to leverage blockchain technology. Tezos doesn´t operate with the Ethereum virtuam machine, instead Tezos has it´s own virual machine and technology. And its own programming languages where security is number one priority.

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    "Tez" is what the currency is called. It´s short, easy to remember and sounds good. Tez is actually being used as a currency to buy and sell NFT´s, so its becoming an actual currency. You can send Tez directly to peoples Twitter or Reddit accounts, and NFT artists can verify themselves with Tezos profiles. You can prove that an account belongs to you. You can also create a Tezos domain name, so you don´t have to use a traditional wallet address, but can instead use you name as your wallet address. All around, the infrastructure around Tezos and the support system is top tier. Contract calls on Tezos has been growing a lot over the last months. As more and more NFT projects come to Tezos, more and more users come. People that experience Tezos and Tezos based platforms often stick around because of the good infrastructure and good communites. As Ethereum continues to run into problems, Tezos can capture a bigger and bigger market share until it is the leader.

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