Cryptocurrency FEEDBACK: Reddit Talk with Crypto Lawyers! |
- FEEDBACK: Reddit Talk with Crypto Lawyers!
- Daily Discussion - August 24, 2021 (GMT+0)
- Can we all take a moment to thank China for their ultimate sacrifice by shutting themselves off from the future.
- Finally! It's official, I now have a job in crypto!
- Bankers issue 'seismic' warning: BTC, ETH and others could replace dollar in just 5 years
- Facing Criticism, Coinbase Promises USDC Stablecoin Will Be 100% Dollar-Backed Again
- A lesson to not chase pumps: My $1,000,000 mistake.
- Deep Dive - GYRO
- El Salvador's President says the country has prepared to adopt bitcoin as legal currency in September by installing 200 ATMs and prepping bank branches to handle crypto
- $1k invested into the Top 10 Cryptos on January 1st, 2020 Up +552% (July Update - Month 19)
- I don't think Bitboy is credible, am I wrong?
- They Laughed at Michael Saylor for Buying Bitcoin at $37,000 - Where are They now?
- You know what takes 3 days? Transferring $2,000 between two banks electronically. They're terrified!
- Here are my predictions, since I am the only person online.
- Your daily dose of Crypto
- Possible Scam! Let's get to the bottom of this
- VISA, Ethereum, and The Graph (GRT): Ethereum and The Graph are key components of VISA's integration of cryptocurrencies and stablecoins such as USDC
- Crypto YouTubers need to be less clickbaity so the whole market can be taken serious
- Please don't give your PC or smart device AIDS by doing surveys for "free crypto"
- El Salvador rolls out 200 Bitcoin ATMs ahead of nationwide adoption
- Top 3 Undervalued Cryptos: XLM, Nano, Monero
- You need money to make money, even in crypto. Anyone who says otherwise is lying to you.
- A good day for Crypto Europe - Tezos Selected To Enable Smart Contracts For Leading European Banks
- It still amazes me how people don't have a basic understanding of market cap
- There are many different crypto people. Here are the categories.
- Somebody just paid $1.3 million for a picture of a rock
- BEWARE of Increasingly Sophisticated Malware infection attempts
| FEEDBACK: Reddit Talk with Crypto Lawyers! Posted: 23 Aug 2021 08:50 PM PDT Hello everyone, thank you all for participating in the first Reddit Talk on r/Cryptocurrency - A session with Crypto Lawyers on regulations in US We had quite an informative session and special shoutout to the lawyers for joining in with their expertise - u/drewhink (Andrew Hinkes), u/K_Saturn (Kayvan Sadeghi) u/Glad_Establishment38 (Sarah Brennan), u/ohaiom (Jason Gottlieb), u/Brookwoodlaw (Collins Belton) and u/TotalRepost (Jamison Sites) from our community too! Thank you to all the listeners and community members for asking really thoughtful questions. And to the Reddit team behind Talk, lead by u/signal and u/advocado20 for taking a community first approach in building Talk, and working with moderators to roll this out to various sub-reddits! We are looking for feedback about the Reddit Talk:
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| Daily Discussion - August 24, 2021 (GMT+0) Posted: 23 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:
Useful Links:
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| Posted: 24 Aug 2021 01:35 AM PDT China was the dominant mining force of the world. Dominant is a way that it was starting to become concerning that they hold too much power. 65% of the hashrate. Controversies were flying around that BTC is their brain child to dominate the world economy. Well that FUD has been broken thanks to their own callousness, inability to comprehend their own power and shutting themselves off from the new paradigm. Nevertheless they still hold 46% of the hashrate. Even despite the mining ban. However it has lost the 51% dominance and other countries like the US, Kazakhstan, etc are catching up. The hashrate in China could continue to fall as their government keeps cracking down on the miners. Thank you for giving us a hard reset and giving other countries a chance to catch up. [link] [comments]  | ||
| Finally! It's official, I now have a job in crypto! Posted: 24 Aug 2021 03:02 AM PDT I lost my job in April during the pandemic. I told myself that my next job would be in a position that somehow was crypto related. Being a system admin I figured it shouldn't be too hard. Unfortunately they are few and far between still. But after multiple positions applied for and multiple rejections after more than 10 video interviews with 1 company I can finally say I accepted a job with a company working to support Defi and both POW and POS infrastructure which I will be helping to setup and administer. I couldn't be more excited! A happy cake day to me indeed! [link] [comments]  | ||
| Bankers issue 'seismic' warning: BTC, ETH and others could replace dollar in just 5 years Posted: 23 Aug 2021 04:54 PM PDT
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| Facing Criticism, Coinbase Promises USDC Stablecoin Will Be 100% Dollar-Backed Again Posted: 23 Aug 2021 07:41 PM PDT
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| A lesson to not chase pumps: My $1,000,000 mistake. Posted: 24 Aug 2021 04:16 AM PDT As people have been celebrating ADA's meteoric rise, I have been hiding in bed crying with each new ATH. Over the last four years, I was researching which coin I personally thought would do well next cycle. I dove into ADA and fell in love with its potential. It wasn't even in the top 20 coins when I bought in at $0.03. I thought it had the potential to replace ETH, and so I sold 99% of my diverse portfolio and purchased nearly $10,000 worth of ADA (about 327,000 ADA). This was in January of 2019. For the next 8 months I watched my investment barely move, and my other coins that I sold for ADA pump higher and higher. At this point, FOMO kicked in. "What if ETH is just the king of smart contracts?" "Cardano can never compete" "I've picked a shitcoin that doesn't do anything" "Once ETH 2.0 comes out Cardano will be irrelevant" So yeah, I sold all but 1000 ADA and put it back into the spread of coins I had originally at a big loss. Yesterday is the day I would have been a millionaire with Cardano touching $3. So yeah, I'm having a day in bed to think about my choices lol. Hope you all have better luck! Remember, have patience, don't chase pumps, and HODL your quality projects! (Re-posted as I posted it on my non-crypto account by accident) [link] [comments]  | ||
| Posted: 24 Aug 2021 04:20 AM PDT Hey guys, I've been lurking around for quite some time now and this is my first time making a post here. I always enjoy when someone else makes a nice, detailed deep dive / summary of a project and always wanted to do one myself. I've been actively looking into crypto and more specifically the De-Fi landscape for around 8 months now, as I am considering it a viable, long-term investment and want to gradually increase the exposure of my portfolio to De-Fi. My overarching short to mid term goal is to really capitalizse on being early in the space (despite there being a lot of hype right now, I think we are still far away from wide scale adoption) and that is why I'm actively seeking projects and opportunities to invest in. While I have been an avid investor into the more well-known and established projects such as Cardano, Solana and Terra (+ Anchor, Mirror), I think all of these are past their initial "baby" stages and are well on the main stage now. I was therefore looking for newer, less known projects and concepts which is when I came across Gyro. Gyro ticked my criteria of being both a project in its infancy, as well as a novel concept in the world of crypto. So let me go ahead and explain: WHAT IS GYRO? Gyro is a decentralized currency that is not pegged (linked) to any fiat currency. The reason why it is not pegged (linked) to any fiat currency is that it aims to address the issues surrounding stablecoins. Although stablecoins are often deemed and considered a "safe investment" by many, once their underlying concept is carefully examined you begin to understand that it's not as safe as it may sound. Because of stablecoins being linked to USD (fiat currency), they may not turn out to be as "stable" as they sound. By being pegged to USD they are inherently linked to the value of the dollar, which is controlled by CENTRALIZED entities such as the Federal Reserve System or United States Government. While many may be comfortable accepting that, the sole reason I started investing and believing in crypto is decentralization - so I would be really going against myself, my belief and my vision of the future by holding stablecoins which somewhat resemble the "old" monetary system that I want to shift away from. Gyro, on the other hand, provides a solution where the value of the token is not as volatile as Bitcoin or Ethereum and is considerably more "stable" while remaining decentralized and NOT directly linked to USD. This is also why they promote themselves as a "smart hedge". HOW DOES IT WORK? Gyro ensures its functionality by being asset-backed, protocol-controlled and community governed. It is asset backed by multi-asset stablecoins, which ensure that GYRO is always greater or equal to 1 USDT. The treasury and reserve are managed by Gyro's protocol which ensures that there is fairness and transparency at all times. The protocol is open and driven by the community (hence DAO) where the holders of GYRO ultimately suggest, propose and implement changes to the project. Fundamentally, Gyro consists of a treasury and liquidity that is managed and owned by the protocol itself. Gyro's algorithm dynamically mints GYRO tokens based on a bond mechanism, and high staking rewards that are designed to control inflation and dilution. The treasury issues Bonds which then generates profit for the protocol. This allows the treasury to use the profit to mint GYRO and distribute them to stakers. With LP bonds, the protocol is able to accumulate liquidity, ensuring system stability. WHY GYRO Besides the points I have already mentioned about stablecoins, there are a few more reasons behind why I am choosing to become involved with Gyro. It allows me to avoid closely monitoring the crypto market, as I know that with the use of staking or bonding, I am in a position to realize profit regardless of whether it is a bull or bear market. Let me exemplify with staking. The price of the GYRO token itself may undoubtedly change, however, given the high APY returns for staking, I am not worried, knowing that the APY covers the losses I might be exposed to by price volatility(as the number of tokens I am holding is multiplying). The token also allows me to curb inflation. Seeing the remarks of titans such as Michael Bury, inflation is something I am becoming increasingly worried about both in crypto and fiat. With Gyro, I am more comfortable having my funds there knowing that the protocol is designed in a way that aims to control and/or mitigate the problems of inflation. GYRO is running on Binance Smart Chain. This is another reason why I am betting on Gyro. While I do invest in Ethereum and projects running on the ecosystem as well, I think that there is currently a lot of friction for new and upcoming projects and the gas fees can really impact the viability and long term sustainability of many projects and investments. That is why, I currently try to look for projects running on the Binance Smart Chain where the transaction speeds are much higher and the transaction costs and fees are minimal. WHY I THINK IT'S THE FUTURE I think unlike many of the projects being launched nowadays all having BABY, ELON, MUSK in its name that are just short-term pumps & dumps with no underlying value, this is one of the few projects under the radar that has an underlying added value, and aims to address a long-term problem in crypto that is meaningful to the community. From the amount of time I have spent in crypto, I have seen that projects that are successful in bringing more novelty and decentralization to the space tend to succeed. I feel like Gyro embodies both of these aspects, which is why I am making my bet on Gyro too. IT WORKED IN THE PAST OlympusDAO is an example of a project that leveraged similar protocol mechanics and you can see and judge the results for yourself. They are currently floating around 330$ USDT per token. However, Olympus is not running on Binance Smart Chain and given the high transaction costs associated with being on Ethereum chain, I am convinced it will face problems in the long run. Ethereum gas fees are very high and it's even worse if you use Uniswap or any other DEX because you are paying even higher fees for smart contract execution. I also find the current price of OHM extremely high and would not feel comfortable entering at this price point. On the other hand, the current price of OHM is what makes Gyro a safer bet in my eyes, as it is a good indicator of the potential upside that there is. WHERE IS THE OPPORTUNITY? HOW DO I MAKE $$$? Now, to answer what most of you are probably curious about, I want to delve into how I plan to take action and capitalize on being early on the project. Please keep in mind that none of this is financial advice and you should all do your own research prior to investing. 1.IDO in a 4 days (28th of August) Gyro is holding its IDO on the 28th of August. However, prior to its launch, they are hosting a "competition" in the form of a sweepstakes competition for whitelist allocation. Basically, you conduct a set of incentivized activities (e.g. following, retweeting) to increase the odds of you being chosen. They are then going to choose 500 people to be whitelisted and give them an opportunity to buy 1 GYRO token for $4 USDT. (Given Gyro's functionality, we know that the closer we get to its intrinsic value of 1$, the higher the upside). The IDO sale price is $4 USDT. These funds will be used to provide initial liquidity for the protocol. The sale will bring in $200k. $60,000 will be deposited to the treasury to back initial supply. The remaining $140,000 will be added as liquidity. The LP will open with 140,000 USDT and 10,000 GYRO. Therefore, the starting price will be $14 (on PancakeSwap) and the initial liquidity of $200,000. So presuming you managed to be one of the 500 winners, you just made 3.5x return - presuming you sell at the listing price. Not too shabby. 1.Getting an entry point as close to 1$ as possible Seeing and understanding how the protocol is designed; its reserves and treasury, it becomes visibly clear that the token will always be equal or greater than 1$ (as the protocol buys back GYRO to ensure that this is always the case). Therefore, the closer I am able to get it at the price of $1 the lower the risk and the higher the potential for upside. So, even if I am unable to win the whitelist allocation, getting in at $14 is still a pretty good entry point for me; knowing how high projects using such protocols can go. 2.Staking Gyro's protocol requires users to stake and bond in order for it to function as it should. Now, the less users that "stake" the greater the APY's (returns), as the rewards are split among fewer individuals. Therefore, staking with GYRO prior to its wider adoption enables you to access, in my opinion, unparalleled yield, in the range of 1000-10k% APY at it's launch. As mentioned previously, staking allows me to compound and multiply the amount of tokens I hold and so even if the price of GYRO was to go down, the amount of tokens I am holding could effectively cover the losses, increasing the overall risk. Now presuming the market is going up, I am also multiplying the amount of tokens I am holding. So not only do I get access to value appreciation of the token but I have also increased the overall holdings. 3.Bonding This mechanism of Gyro allows you to potentially buy assets at a discount. Just like with normal bonds, the terms for a trade are defined and will take place at a later date. So for instance, presuming you buy bonds of GYRO for $14 per token at a maturity date of 5 days, and the price rises to $20 within 5 days, you managed to realise a pretty decent profit by obtaining the tokens at the price of $14, when their market price is already $20. However, unlike staking, this is a more active / risk-seeking strategy and might not be suitable for everyone. 4.Community competitions/giveaways To incentivize and attract early users, Gyro is currently conducting a set of activities to reward community members for their engagement. From what I have seen, there are two places where activity is being rewarded right now - Twitter and Telegram. In both cases, Gyro rewards users in USDT for a set of activities that they do (e.g. liking, following, referring friends). I aim to win some of those to be able to take the money and put it into GYRO once it launches. Overall, I think at this point there are a decent amount of ways for me to capitalize on being early on in the project, which goes directly in hand with what I wanted. So here it goes. This is my reasoning, thinking and course of action. Let me know what you guys think, I am open to any feedback/criticism and hope we can all learn from one another. [link] [comments]  | ||
| Posted: 23 Aug 2021 04:12 PM PDT
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| $1k invested into the Top 10 Cryptos on January 1st, 2020 Up +552% (July Update - Month 19) Posted: 24 Aug 2021 02:52 AM PDT EXPERIMENT - Tracking Top 10 Cryptos Of 2020 - Month Nineteen – UP 552% The full blog post with all the tables is here. Welcome to the monthly recap for the 3rd of 4 homemade Top Ten Crypto Index Funds. The 2020 Portfolio is made up of: Bitcoin, Ethereum, XRP, Tether, Bitcoin Cash, Litecoin, EOS, Binance Coin, BitcoinSV, and Tezos. tl;dr:
Month Nineteen – UP 552%After experiencing the first two back to back red months since the 2020 Top Ten Experiment began, the 2020 Portfolio recovered a bit in July. Nearly all cryptos in the group had at least modest gains, with just BSV losing value. The 2020 Top Ten Portfolio continues to be the best performing of the four Top Ten Crypto Index Fund Experiments. 100% of the 2020 cryptos are in positive territory, most have at least triple digit price growth, and two cryptos in four digit growth territory (BNB and ETH). This group of cryptos also highlights the benefits of an index fund strategy: the +552% return of the 2020 Top Ten Portfolio has outperformed eight of the individual component cryptos contained within the Index. Only by guessing right and throwing all your eggs into Ethereum and/or Binance Coin would you have performed better than spreading out the risk, index style. July Movement Report, Ranking, and DropoutsFor a mostly green month, there was a surprising amount of downward movement this month: Ups:
Downs:
Top Ten dropouts since January 2020: after nineteen months, half of the cryptos that started in the Top Ten have dropped out: EOS, BSV, Tezos, Litecoin, and Bitcoin Cash have been replaced by Cardano, Polkadot, UNI, Doge, and USDC. EOS is out of the Top Twenty, BSV out of the Top Thirty, and Tezos fell out of the Top Forty this month. July Winners and LosersJuly Winners – ETH (+21%) outperformed the field this month followed closely by Bitcoin (+19%). July Losers – Loser, singular this month: although only losing -2% of its value, BSV was the only crypto in the 2020 Top Ten to finish in the red in July. Tally of Monthly Winners and LosersAfter nineteen months, here's a snapshot of the 2020 Top Ten Experiment's monthly winners and losers: With five monthly victories, ETH leads the pack. Tether has the most monthly losses, a good sign for the 2020 Top Ten Portfolio (although BSV is starting to catch up in the loss column). Overall Update – BNB in the lead, 100% of cryptos in positive territory, 2020 Top Ten best performing of the four ExperimentsThe 2020 Top Ten continue to lead the rest of the Top Ten Crypto Experiments. 70% of the cryptos in this group are up at least triple digits and Ethereum and Binance Coin are up quadruple digits. The initial $100 investment nineteen months ago into first place Binance Coin? Currently worth $2,367, an increase of +2,266%. In second is Ethereum, also with quadruple digit gains, up +1,884%. Besides USDT, the worst performer in the 2020 group is BSV, up +44% since January 2020. Total Market Cap for the Entire Cryptocurrency Sector:The total market cap added about $223 billion in July, finishing the month at nearly $1.6T. As a sector, crypto is up +743% over the nineteen month lifespan of the 2020 Top Ten Experiment. If you were able to capture the entire crypto market since January 2020 (+743%), you'd be doing quite a bit better than the Experiment's Top Ten approach (+552%) and much, much better than the S&P (+36%) over the same time period. Much more on the S&P below. The Top Ten index fund strategy has done pretty well up to this point in the experiment: it has outperformed eight of the ten individual cryptos held within the index. Only by guessing correctly on ETH or BNB would you have beaten the Top Ten approach. Low Point in the 2020 Top Ten Crypto Index Experiment: $185B in May 2020. High Point in the 2020 Top Ten Crypto Index Experiment: $2.2T in April 2021. Bitcoin Dominance:BitDom continued to gain this month, ending July at 46.6%. As the fancy new chart above shows, this is still very near the bottom: out of nineteen months, Bitcoin Domination was only lower two months ago. Low Point in the 2020 Top Ten Crypto Index Experiment: 42% in May 2021. High Point in the 2020 Top Ten Crypto Index Experiment: 70% in December 2020. Overall return on $1,000 investment since January 1st, 2020:The 2020 Top Ten Portfolio picked up $836 in July and is now worth $6,524 (+552%) from the initial $1k investment. For some context, this portfolio was worth $10,5236 just three months ago). The 2020 Portfolio remains the best performing of the four Experiments. Below is a month by month ROI of the 2020 Top Ten Experiment, to give you a sense of perspective and provide an overview as we go along: The portfolio has yet to experience a red month, although a little over a year ago in March 2020 it came close, returning a COVID induced low of +7%. Combining the 2018, 2019, 2020, and 2021 Top Ten Crypto PortfoliosSo, where do we stand if we combine four years of the Top Ten Crypto Index Fund Experiments?
Taking the four portfolios together, here's the bottom bottom bottom bottom line: After a $4,000 investment in the 2018, 2019, 2020, and 2021 Top Ten Cryptocurrencies, the combined portfolios are worth $15,761 ($1,116 + $4,984 + $6,524 + $3,137). That's up +294% on the combined portfolios, which is back near the returns in March. Lost in the numbers? Here's a table to help visualize the progress of the combined portfolios: That's a +294% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st for four straight years. Top Ten Index Approach vs. All-In ApproachBut what if I'd gone all in on only one Top Ten crypto for the past four years? While many have come and gone over the life of the experiment, five cryptos have started in the Top Ten for all four years: BTC, ETH, XRP, BCH, and LTC. Let's take a look: ETH is still well in the lead and the best "if-I-had-a-time-machine" choice. As of today, $4,000 into Ethereum in $1k chunks on four consecutive New Year's Days would be worth $46,038. That's up +1051%. In second place, going all in on Bitcoin with $4,000 USD would have yielded +417%, turning the initial $4k investment into $20,670. And close third place? The Top Ten Index Fund approach with +294%! Watch your back, BTC! As you might expect (as indexes are designed to mitigate risk), the +294% gains of the Top Ten Index Fund approach fall somewhere in between the best and worst performers. The Top Ten strategy isn't keeping up with ETH or BTC (yet…) but it is outperforming a hypothetical all-in investment in both XRP, LTC, and BCH by a healthy margin. Bitcoin Cash would have been the worst four year all-in bet, but you'd still be +91%. So that's the Top Ten Crypto Index Fund Experiments snapshot. Let's take a look at how traditional markets are doing. Comparison to S&P 500I'm also tracking the S&P 500 as part of my experiment to have a comparison point with traditional markets. The S&P reached yet another all time high, something we've seen again and again this year. It has now returned +36% since January 1st, 2020. That same $1k I put into crypto in January 2020 would be worth $1360 had it been redirected to the S&P 500 instead. Crypto over the same time period? The 2020 Top Ten Crypto Portfolio is returning +552%. The initial $1k investment in crypto is now worth $6,524. That's a difference of $5,164. On a $1k investment! But that's just 2020. What about in the longer term? What if I invested in the S&P 500 the same way I did during the first four years of the Top Ten Crypto Index Fund Experiments since January 1st, 2018? What I like to call the world's slowest dollar cost averaging method? Here are the figures:
So, taken together, here's the bottom bottom bottom bottom line for a similar approach with the S&P: After four $1,000 investments into an S&P 500 index fund in January 2018, 2019, 2020, and 2021, my portfolio would be worth $5,920 ($1,640 + $1,750 + $1,360 + $1,170) That is up +48% since January 2018 compared to a +294% gain of the combined Top Ten Crypto Experiment Portfolios, a difference of 246% in favor of crypto. To help provide perspective, here's a quick look at the combined four year ROI for crypto vs. the S&P up to this point. Even after a rough few months, that's ten straight monthly wins for crypto. Conclusion:After an eternity of downward or crab movement (eternity in crypto=two months) it looks like crypto has resumed its upward trajectory. Could this all change tomorrow? Absolutely. But if you believe that crypto is here to stay, I invite you to zoom out with the data contained in these updates: all looks pretty good when you look at the big picture. For those who have supported the Experiments over the years, thank you. For those just getting into crypto, I hope these monthly reports can somehow help with perspective as you embark on your crypto adventures. Buckle up, think long term, don't invest what you can't afford to lose, and most importantly, try to enjoy the ride! Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for my parallel projects tracking the Top Ten cryptos as of January 1st, 2018 (the OG Experiment), January 1st, 2019, and most recently, January 1st, 2021. [link] [comments]  | ||
| I don't think Bitboy is credible, am I wrong? Posted: 23 Aug 2021 06:04 PM PDT Hi Y'all, The title says it all, I have gathered the impression that Bitboy isn't credible from what I have read on this subreddit but got someone replying to a comment I made on a youtube video related to him saying that he is obviously credible. I still don't feel like he is credible, but since I don't have any personal experience with bitboy could y'all explain to me why the community generally doesn't like him? What is the general consensus here about his credibility, and if you feel he is or isn't credible why do you feel that way? Looking forward to reading the comments! [link] [comments]  | ||
| They Laughed at Michael Saylor for Buying Bitcoin at $37,000 - Where are They now? Posted: 23 Aug 2021 05:40 PM PDT "That's pretty bearish that you already bought all that Bitcoin and the price kept dropping anyway." "how to lose 6.5 million in a day...." "This guy sucks at buying lmao" "37? HAHAHAH if you waited a day you could've gotten it 5k cheaper" "Lol wtf you bought at 37k and now we at 32k how it's possible R u kidding me or market omg" "Have fun losing all your money" Where are these people now? Did they suddenly disappear? Bitcoin is now at around $50,000, which is a 35% profit in just around two months for Michael Saylor. [link] [comments]  | ||
| You know what takes 3 days? Transferring $2,000 between two banks electronically. They're terrified! Posted: 23 Aug 2021 07:11 PM PDT I work with various financial institutions and they're all scrambling to update their systems. They want plaid, they want faster transfers, but they're just so slow. I literally just went to transfer $2k from one bank to BOA. 3 days. 3 GD DAYS for me to get my money moved? What are they doing with three days to verify electronic transactions? Oh and by the way I was only able to transfer $2k because there is a daily limit! WTH why do they limit the movement of money?? You bet your ass they take their sweet time so they make get the last ounce of milk out of your tits! Banks can't keep up and the likes of Crypto.com and Coin Base are going to be the next BOAs:
The banks have been sucking on my $35 overdraft tits for far too long. It's only a matter of time before they crash and burn for the revolution of the banking industry. [link] [comments]  | ||
| Here are my predictions, since I am the only person online. Posted: 23 Aug 2021 09:52 PM PDT Following predictions are my own and I am posting this only because I am the only person online. So it doesn't matter what do you all think. Lets go. Bitcoin - 100k by October end. Ethereum - 7k by September end and 10k by year end. Ada - 5USD by Mid September and 10USD by year end. Solana - 120 USD by October end. Vet - 1 usd by year end. XRP - 6 USD by year end. (20usd if there is settlement) XLM - 3 USD by year end. BNB - 1000 USD by year end. Matic - 5 USD by year end. DOT - 75 USD by year end. Algo - 9 USD by year end. ONE - 1 USD by year end. UNI - 85 USD By year end. Link - 115 USD by year end. Moons - 1 USD by Feb 2022 Doge - 1.5 USD by 2022 ( that is the max it can ever reach. 'This is not a financial advice' So please do not quote me on this one. If these predictions happen to become a reality, make sure you comment on this post. You can also comment down below your predictions. [link] [comments]  | ||
| Posted: 23 Aug 2021 05:47 AM PDT Your daily dose of Crypto - Aug 23
Edit: ADA made a new ATH of $2.95 [link] [comments]  | ||
| Possible Scam! Let's get to the bottom of this Posted: 23 Aug 2021 10:44 AM PDT
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| Posted: 23 Aug 2021 07:27 PM PDT In December 2020, VISA partnered with USDC, a stablecoin on the Ethereum blockchain, which is pegged to the US dollar. In March 2021, VISA became the first major payment network to settle transactions using USDC. Groundbreaking, right? The mega financial servicing company VISA using an Ethereum-based stablecoin cryptocurrency to settle domestic and cross-border payments. Yes, this is an extraordinarily optimistic development for the Ethereum ecosystem, but it is arguably even more optimistic for The Graph. The Graph is a decentralized indexing protocol that allows applications, users, and other entities to query different blockchain networks for data. The Graph recently processed $1 billion daily queries in June 2021 roughly 2 years since launch for reference, Google was processing just 200 million queries per day in 2004, which was 6 years after it launched). How does this work? For example, when someone opens the website CoinGecko.com and wants to view data related to the price, volume, or market capitalization of a token, CoinGecko has to ask The Graph to provide CoinGecko with the most recent datapoints so that CoinGecko can present such data to the user. The Co-Founder and CEO of CoinGecko explains this in depth here. Providing CoinGecko with near-realtime blockchain data is just one of an infinite number of ways that The Graph provides blockchain data to the outside world. Why does this matter and why are we talking about The Graph when we started by talking about Ethereum, VISA, and USDC? Well, in order to build and develop applications using data from the Ethereum blockchain, the data needs to be indexed. In other words, for a developer to create an application on Ethereum, first they must organize the relevant blockchain data from Ethereum's network and make it easier to retrieve such data so it can be presented to the consumer in a faster manner. The way that The Graph provides this data to developers is by organizing relevant data into subgraphs, and each major application and network have their own unique subgraphs on The Graph's network with their own unique relevant data. If CoinGecko wanted to provide blockchain data to their customers without using The Graph, they would have to organize all of this data themselves and it could take years to do so and would waste a lot of developer resources. This is like opening a book to find a specific topic by reading every line (ie, CoinGecko doing it manually) versus going to the index at the back of the book to find the exact page with the information you are looking for (ie, CoinGecko using The Graph). Well, USDC has their own subgraph, and anyone who wants to develop applications that track data related to the use of USDC, and naturally, the use of USDC by VISA, can simply use The Graph's USDC subgraph. Eva Beylin, the Director of The Graph, articulates it very well here:
It gets better. Messari, a cryptocurrency research and data tool, is hosting a major event called Mainnet 2021 centered around The Graph's protocol on September 21-23 in New York City. Guests and speakers include representation from countless applications and networks that use The Graph, including Aave, 1inch, Coinbase, Kraken, OpenSea, Alchemy, Dapper Labs, Arbitrum, Algorand, Avalanche, Ethereum, Synthetix, Solana, and more. Why am I mentioning this? Well, there is also another special attendee and speaker: Catherine Gu, the Head of Global Central Bank Digital Currencies at VISA. There have been hints by the founders of The Graph like Yaniv Tal that this will be a very important meeting and that something big is going to happen at this meeting. Regardless of whether there is or is not some major announcement related to The Graph and VISA, we already know the facts: VISA's flagship stablecoin is USDC, which is an Ethereum token, and the entirety of USDC's data can be easily retrieved from the USDC subgraph on The Graph's network. Once VISA provides full-fledged support for USDC and it is the primary means of exchanging the US dollar using VISA cards, mobile device applications that provide a list of your history of payments made using VISA cards (eg, banking apps, Uber, food delivery apps, etc.) will need to make a choice: should they allocate significant developer time and resources to manually organizing all of the data relevant to USDC on Ethereum's blockchain so they can provide the data to their users? or should they simply retrieve that data from The Graph's USDC subgraph, where it is already organized and updated in near-realtime for them? My bet is that every company, person, service, application, and bank in the world who needs to track the usage of USDC by VISA services will use The Graph's USDC subgraph. Thanks for reading! EDIT: u/DomiekNSFW's wife is not going to be happy with me for this post lol [link] [comments]  | ||
| Crypto YouTubers need to be less clickbaity so the whole market can be taken serious Posted: 23 Aug 2021 11:31 PM PDT So, right now I am looking at my recommended video list on YouTube and what I see is just awful: I'm over 40 and have been in crypto some time now, next to investing elsewhere. Recently I have been watching some YouTube videos on cryptocurrencies, mainly from Benjamin Cowen and Coin Bureau (also has some overly clickbait thumbnails and titles), which both are very good in my opinion. But like the YouTube algorithm does, it now thinks I want to watch all kinds of other videos about crypto. But the clickbait titles and thumbnails I am seeing right now range from hilariously bad to outright lies. It's often the same recipe: A name of a coin, lots of signal colours like green, red, yellow etc, lots of buzz words, lots of exclamation marks, and the face of some guy. Something like: "CARDANO PRICE TARGET 100x!!!!!? Prepare for the next ADA move ... WARNING!!!" The video itself, most of the times, isn't really worth a watch either. My problem with these clickbaits is that it makes the whole market seem childish and not very professional. I'd like for the crypto market to grow up a bit more. What do you think? Discuss. [link] [comments]  | ||
| Please don't give your PC or smart device AIDS by doing surveys for "free crypto" Posted: 23 Aug 2021 07:46 PM PDT I've seen a huge amount of posts recently regarding "how to get free $5 crypto from surveys" etc This is a terrible idea! You are opening your device to malware and other nasty viruses that want your info and seed phrase... Your personal info and security of your wallet should be far more valuable than a measly $5 a month (I would hope 😅) If you want to print "free" crypto, then buy a mining rig or shit post in the daily. Unfortunately, in this life, there is rarely such thing as a "free lunch" Edit : my apologies for using the word "AIDS" as slang for a computer malware/virus. It was not my intention to hurt or belittle the h.i.v community. [link] [comments]  | ||
| El Salvador rolls out 200 Bitcoin ATMs ahead of nationwide adoption Posted: 24 Aug 2021 01:24 AM PDT
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| Top 3 Undervalued Cryptos: XLM, Nano, Monero Posted: 23 Aug 2021 04:47 PM PDT XLM is efficient, makes more transactions a day than Bitcoin or Ethereum and is used widely to move funds at an extremely low transaction cost in a matter of seconds. Also has smart contracts and NFTs. Nano is also very efficient, has an innovative voting system, can move funds for free nearly instantly and has a cool community. Monero might not be as efficient as XLM or Nano, but has an encrypted blockchain, meaning that no one can see who you send Monero or how much you hold. An absolutist privacy solution where it leads in. [link] [comments]  | ||
| You need money to make money, even in crypto. Anyone who says otherwise is lying to you. Posted: 23 Aug 2021 11:22 PM PDT It's a saying as old as fiat, "you need money to make money" it's a word a man or woman never wants to hear. But it's the cold hard truth. And anyone, I mean anyone, who says otherwise is lying or they don't know what their talking about. I'm not discouraging small investors like myself from getting into the crypto space, infact most people start with small amounts and add more over time. But I say this because you should be cautious if someone promises returns, like invest 100$ and turn it to a 100,000K, this is possible, but it's a high risk high reward game. If 100$ is all you had, then don't go chasing these dreams of becoming rich quick, invest in proven projects like BTC, ETH, etc that have survived through multiple bear markets. Thanks for coming to my Ted talk. [link] [comments]  | ||
| A good day for Crypto Europe - Tezos Selected To Enable Smart Contracts For Leading European Banks Posted: 23 Aug 2021 09:41 PM PDT Crypto Finance Group, InCore Bank, and Inacta have selected Tezos for the development of innovative, compliant, on-chain digital products for the financial market. At the center of these products, a new Tezos-based token standard called 'DAR-1' has been developed for asset tokenization based on the Tezos FA2 standard. Bank Smart Contracts 24 August 2021, Zurich, Switzerland — Crypto Finance Group, InCore Bank, and Inacta have selected Tezos for the development of innovative, compliant, on-chain digital products for the financial market. At the center of these products a new Tezos-based token standard called DAR-1 has been developed for asset tokenization based on the Tezos FA2 standard. Additionally, InCore Bank announced the launch of institutional-grade storage, staking, and trading services for Tez (XTZ), the native cryptocurrency of the Tezos blockchain. The DAR-1 token standard on the Tezos blockchain enables smart contracts that provide all of the functions that are necessary to support financial markets in compliance with regulations. For the tokenization of assets on Tezos for example, all limitations that are necessary to comply with regulations are registered and enforced on the blockchain through sets of smart contracts. The DAR-1 token standard was developed by Inacta, digitization experts for technology and finance services. The launch is enabled by Crypto Finance, a leading provider of institutional and professional investor products and services for digital assets, and InCore Bank, a business-to-business transaction bank. "This work by Crypto Finance, InCore Bank, and Inacta is a tangible example of how FA2 on Tezos broadens the potential for tokenization significantly. The launch of these Tezos use cases for the financial sector make innovative, compliant on-chain financial products a reality today." – Stijn Vander Straeten, CEO of Storage Infrastructure with the Crypto Finance Group. Tezos was chosen to power the new token standard for asset tokenization, because its on-chain governance allows upgrades without disrupting or splitting up the network. For tokenized assets that are registered on a blockchain, hard forks cause a serious risk. These assets are heavily regulated and these regulations also need to be enforced on their tokenized form. A split chain caused by a hard fork, would mean that these tokens that are supposed to have fixed circulating supplies, would continue to exist on both chains and double in numbers. Very uncomfortable choices would needed to be made by the issuers of these tokens with regulators watching their every move. Tezos fixes this. Read more about these issues and how Tezos fixes this here. This is highly attractive to financial services providers, who will be able to implement applications seamlessly and offer staking and future innovations directly to their clients. This collaboration of leading Swiss blockchain and financial players enables banking designed for the future, minimizing legacy issues that imply additional costs and compromises. Opening the door for institutional customers: integrated staking services Additionally, InCore Bank will be the first Swiss business-to-business bank to launch staking services for the Tezos network, unlocking new yield earning products for institutional customers. Financial institutions benefiting from InCore Bank's fully integrated services will be able to offer staking for their clients' assets seamlessly and effortlessly. Staking lets clients participate in the governance of the network and earn rewards generated by the network, similar to mining in the Bitcoin network. It can be initiated directly via e-banking, and clients receive regular statements of the staking rewards. InCore Bank approached Crypto Finance to provide technology services for secure and compliant digital asset storage and to support the trading and staking of XTZ. InCore Bank and Inacta are planning to launch a number of issuances on Tezos together with other participants in the ecosystem. These launches establish the named partners as pioneers in the digital asset industry and open the door to innovative new financial market participants to leverage the attractive investment opportunities on the Tezos blockchain. About InCore Bank InCore Bank AG is a financial service specialist bank and a banking services for other banks based in Zurich. This combination of specialties makes it a one-stop business-to-business transaction bank founded in 2007, providing banks, security dealers, and fintech companies with first-class transaction banking and outsourcing services. As a Swiss corporation with a banking- and securities dealer licence, InCore Bank offers a comprehensive and modular range of services covering transaction banking for traditional and digital assets, business process outsourcing and other services. This offering enables other market participants to reduce complexity and focus on their core business. About Inacta Founded in 2009 and based in Zug, Inacta AG is an independent Swiss IT company that combines the expertise of more than 80 experienced digitization experts. Inacta provides consulting, project management and software development services to established companies and start-ups. As an early adopter, it understands technologies such as Blockchain or AI and uses them in a targeted manner. Inacta is a founding member of the Crypto Valley Association and the Swiss Blockchain Federation. As initiator of the cryptovalley directory, the Blockchain Summit and the Blockchain Competition, it promotes technology start-ups and their networking with established companies. About the Crypto Finance Group Crypto Finance AG is a financial services provider specialised in crypto assets. The range of activities of Crypto Finance AG, and its subsidiaries, includes asset management, brokerage and crypto asset storage infrastructure. Crypto Finance Group provides asset management with the first regulated asset manager for collective investments for crypto asset funds authorised by FINMA. They also provide brokerage services for 24/7 crypto asset trading as a FINMA-licenced securities firm. Additionally, they provide crypto asset storage infrastructure and tokenization solutions. Since its founding in 2017, the group has been recognised several times for its qualities in the industry, including as a Crypto Valley Top 50 blockchain company, Top 100 Swiss Start-up, and 2019 Swiss FinTech Award winner. [link] [comments]  | ||
| It still amazes me how people don't have a basic understanding of market cap Posted: 23 Aug 2021 04:12 PM PDT EVERYWHERE i go i see something like "*shitcoin* to $1" or "we can at least go to $0.01 right?". Market Cap = s \ p* s being the circulating supply Therefore: if a coin reaches $1, the market cap would be $1,000,000,000,000,000, which is over 3 tims the total world wealth source Even if it reached something like one cent, it would be worth more than Bitcoin. So no, your shitcoin isn't reaching a dollar, or a cent. Learn basic math and dont buy shitcoins Edit: I got confused, market cap is determined by the circulating supply, not total supply Also, i recommend checking out u/stoffmeister's article explaining more about market cap https://simplecryptoguide.com/crypto-market-cap-explained/ [link] [comments]  | ||
| There are many different crypto people. Here are the categories. Posted: 23 Aug 2021 02:01 PM PDT 1 The shitbrainer - buys shitcoins, knows shit about crypto, keeps hodling the shitcoin 2 The stoic - DCA - HODL, 3 different ATHs reached already, still DCA - HODL 3 The twitchy - Looking at charts every 5 minutes, daytrading, tries to DCA once, but can't keep it, because has to sell and rebuy fast 4 Profit taker - DCAs, swing trades a little, takes profit once in a while, but never takes out their whole investments, reinvests again 5 The skinflint - stopped all their bad habits which costs them fiat like smoking/ bubblegum chewing / showering every day / [...] to have more to invest in crypto, participates in every shitty airdrop events, uses Brave browser to farm, shitposting with at least 800 comments per day, exhausts all the posting limit of 3 per day 6 The Husband or the wife - Your crypto, but our gains 7 The follower - does everything their influencer says, also likes FOMO and tatooing the coin emblem on legs and butt 8 The Lucky - got very early in a coin which went to the moon few years later 9 DIY quick buck - making their own token, rug pull when profitable calling it "family emergency" 10 Hard Lesson - a person who has passes all steps 1 to 9 once in their crypto life leading them to either A) DCA+HODL+BEING HAPPY or B) leaving crypto space forever+BEING UNHAPPY You come up with another category? I'm number 10 A btw, just except that ass tatoo thing. EDIT1: The poser: posts on r/cc all day. Preaches DCA and HODL. But really only has about 30$ invested. u/KasparThePissed EDIT2: the hype beast- someone who only chases coins after they've 2-3x'd and makes it their mission to make others try to keep buying the eeyore: someone who has been "watching" crypto for years but never pulled the trigger and now thinks it's too late for them so they're sad about missing out. u/Odysseus_Lannister EDIT3: The Mooner: Chases moonshots left and right. Confuses DYOR with Dior. u/pbjclimbing [link] [comments]  | ||
| Somebody just paid $1.3 million for a picture of a rock Posted: 23 Aug 2021 05:43 PM PDT
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| BEWARE of Increasingly Sophisticated Malware infection attempts Posted: 23 Aug 2021 11:47 PM PDT Beware of Increasingly Sophisticated Malware Infection Attempts(still viable) Just trying to get the word out there. Once a week In the past months, malware infection attempts on this site has become increasingly sophisticated. Below is a summary of infection techniques that I have encountered. With the most sophisticated attacks, common sense and virus scans is no longer sufficient to ensure safety. **"latest wallet"/"custom wallet"/"faster miner"**A newbie asks for the latest wallet, or wallet that doesn't have any tx fees, or the latest/fastest miner, and the attacker posts his in response. This type of attempt Usually gets spotted pretty quickly. Copied/new ANN The attacker creates a new topic and posts a malware link as the wallet (or a legit one and changes it to a malware one later). Replacing links in quotes The attacker quotes a legitimate post containing a download link written by the real developer (usually the OP or a update post) and changes the link within the quote to a malware link. Compromised dev account The developer account (usually responsible for making the OP) is compromised and a "mandatory update" is posted. This usually happens with old/abandoned coins so the real developer isn't there to notice the rogue update. Packed/FUD executables In most of the cases above, the malware has little to now detections on virustotal. This is because any script kiddie can pay $30 and have their malware crypted, rendering them fully undetectable. Modified source with backdoor This was recently brought to my attention via a user report. A newbie, under the guise of reviving a coin posted a new client along with source. However, the source was modified to include a backdoor in the IRC bootstrapping mechanism.here is the relevant source code:The code was part of the initial commit, so it would be difficult to notice the addition of the code by casual inspection. Also, this would likely not show up on any virus scans. [link] [comments]  |
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