Cryptocurrency Moon Week Reminder - Governance polls must be submitted before Thursday |
- Moon Week Reminder - Governance polls must be submitted before Thursday
- Daily Discussion - August 3, 2021 (GMT+0)
- Everyone always says “DYOR” but never shows you how to DYOR. Here’s a comprehensive guide to doing your own research in the crypto space.
- If you are "Moonless" please start contributing! I was tipped my first moon and it got me more involved in this sub!
- Ethereum2.0 is the Next Big Thing in the Crypto World: Will Consume 99% less Energy, Way Better Scalability and Inclusivity
- ETH is on the verge of pulling off 13 green days in a row for the first time in history.
- I sort by new, 90% of the time.
- My personal investigation into Ethereum uncovers a darker, more sinister purpose of what is the project really is for.
- Leading Senator Urges Congress Not To Pass New Crypto Reporting In Infrastructure Bill
- The actual first-ever Bitcoin post on Reddit. From May 2009, only 4 months after Satoshi Nakamoto released the Bitcoin software.
- Learn from Safemoon - How to spot an altcoin scam
- Anyone here who sold during the spring?
- Normally I'm a buy the rumour sell the news sort of guy. But with EIP 1559, I'm buying the rumour, buying the news, and the buying again after the news.
- Cryptocurrency bill: Last-minute concessions won!
- Truly unpopular opinion: Untraceable coins should have no future and are dangerous to democracy.
- How to check the karma earned in this sub(for newbies who are active in a lot of subs like me)
- Scammer tried to scam me but I tricked him and scammed him instead.
- which altcoin do you most believe in?
- Friendly reminder so you don't forget
- Ethereum's London Hard Fork is now 2 days away
- Hodling isn't always the way
- Mini Shiba is down 65,91% in the last 24 hours
- Just a friendly coinbase security warning for noobs
- What people back in 2014 used to think about reddit having it's own cryptocurrency.
- SafeMoon is the worst-performing top 100 coin in the past week, down ~27%
- What kept you from getting into cryoto?
| Moon Week Reminder - Governance polls must be submitted before Thursday Posted: 02 Aug 2021 08:32 PM PDT Per the passing of the Moon Week Governance Poll, this is your reminder that tomorrow is the snapshot and beginning of Moon Week (Round 16). All Moon Week polls will be compiled in a sticky from Thursday until Tuesday. Please submit any governance proposals for this month before Thursday so they can be promoted in the sticky until next Wednesday. I highly recommend sending me a DM first with any questions and to have a rough draft of your proposal reviewed for approval. For more information about Moons, please see the official Moons wiki page or ask your question below. If you see anything in the wiki page that is unclear or missing, please feel free to suggest edits. Check back after Thursday to vote in polls and earn your 5% moon bonus [link] [comments]  | ||
| Daily Discussion - August 3, 2021 (GMT+0) Posted: 02 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: 02 Aug 2021 09:46 AM PDT 1) Initial information gathering and filteringOnce I identify something that looks like a good potential investment, I first go to the CoinMarketCap page for that symbol and look at the website and blockchain explorer.
2) Fill out an Investment ChecklistI have a checklist of questions that I find important and as I'm researching a crypto I save little snippets in Evernote of things that are relevant to answering those questions:
3) Create some sort of consistent valuation model/framework, even if its simpleA simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do:
Once you have a model you like set up, you can compare cryptos against each other and most importantly it will require that you build a mental framework within your own mind on why somebody would want to own this coin other than to sell it to another greater fool for a higher price. Modeling out a valuation will lead you to think long term and think about the inherent value, rather than price action. Once you go through this 3-step methodology, you'll have a pretty good confidence level for making your decision and can comfortably sit back and not panic if some temporary short term condition leads to a price decrease. This is how "smart money" does it. Think about your portfolio allocationYou should think first in broad terms how you allocate between "safe" and "speculative" cryptos. For new investors its best to keep a substantial portion in what would be considered largecap safe cryptos, primarily BTC and ETH. I personally consider XMR to be safe as well. A good starting point is to have between 50-70% of your portfolio in these safe cryptocurrencies. As you become more confident and informed you can move your allocation into speculative small caps. You should also think in terms of segments and how much of your total portfolio is in each segment:
You should also think about where we are in the cycle, as now given so much uncertaintly its probably best to stay heavily in core holdings and pick up a few coins within a segment you understand well. If you don't understand how enterprise solutions work or how the value chain is built through corporations, don't invest in the enteprise blockchain solutions segment. If you are a techie who loves the technology behind a coin, invest in that. Think of your "circle of competence"This is actually a term Buffet came up with, it refers to your body of knowledge that allows you to evaluate an investment. Think about what you know best and consider investing in those type of coins. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain will achieve adoption? This where your portfolio allocation also comes into play. You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every category and for every type of crypto you come across. If you had over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well. Continually educate yourself about the technology and marketsIf you aren't already doing it: Read a bit each day about cryptocurrencies. There are decent Youtubers that talk about the market side of crypto, just avoid those that hype specific coins and look for more sceptical ones like CryptoInvestor. If you don't understand how the technology works and what the benefits of a blockchain are or how POS/POW works or what a DAG is or how mining actually works, learn first. If you don't care about the technology or find reading about it tedious, you shouldn't invest in this space at all. ———————————————————————— There is no tldr haha. That was a pretty long one and I think it just about covers everything. Hope it helps! [link] [comments]  | ||
| Posted: 02 Aug 2021 06:02 PM PDT Like the title says I was tipped my first moon and it got me more involved in this sub. After occurring 1k moons I then proceeded to tip 100 moons out to the moonless (moons have 3x since then). I got suspended for a week due to this practice of tipping out moons (without mod approval). So now I just try and get people to open their Reddit Vault (which is an Ethereum wallet) and contribute to the community to earn these tasty moons!! P.S. Moons to the moon!! [link] [comments]  | ||
| Posted: 02 Aug 2021 05:40 PM PDT
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| ETH is on the verge of pulling off 13 green days in a row for the first time in history. Posted: 02 Aug 2021 02:26 PM PDT EDIT: 13 green days in a row has been achieved and ETH has made history. Congrats! 🎉 If ETH can hold $2,556 for just a couple of more hours it will have logged it's 13th green day in a row. This has never happened before in it's 6 year history. You're watching a milestone and history in the making! It is interesting to see that BTC led this rise but faltered after day 10 but ETH kept going and now even the ETH/BTC ratio is seeing significant gains. I think this incredible history-making rally has been fueled by the upcoming London Fork upgrade and much anticipated EIP-1559 update. Let's start burning some ETH! Only the start of some incredible ETH gains to come. [link] [comments]  | ||
| I sort by new, 90% of the time. Posted: 02 Aug 2021 07:50 PM PDT And you should too, helping others was never easier thanks to Moons. Also, you can be getting awesome info first hand, so you can make better decisions. I strongly believe that information changes situations, so if you can have free access to (sometimes) great information, why wouldn't you do it? And why not be one of the people who help others to make that information visible by commenting or upvoting, so the redditors who don't sort by new, can also get good information on the long run. Take a moment to make someones's life better, sometime on the coming future. [link] [comments]  | ||
| Posted: 03 Aug 2021 12:55 AM PDT Ethereum was initially a tech startup company and the Ether token was launched as a fundraising mechanism for the Ethereum business venture. They printed themselves to be the largest shareholder of Ether, approached a bunch of investors, pitched the investors a whitepaper and said if you give us money we will deliver you this roadmap and we will also print you a X% share of the network. To those from the business world, that sounds a lot like a stock offering. Ethereum even used the term "IPO" in their marketing, as the term "ICO" wasn't popular yet. XRP often gets dunked on for largely being a stock ticker for Ripple Labs, but there aren't very many differences between Ripple and Ethereum concerning the launch. Both launched as a premine and they both printed themselves a big bag to periodically sell to "fund" operations. The Ethereum Foundation sold $115,000,000.00 of ETH on Kraken at the literal top on May 17th, 2021. Jed McCaleb, founder of XRP, also sold about $275,000,000.00 dollars worth of XRP in the month of May 2021. Because of the similarities of the launches, the outcome of the SEC vs Ripple court case in the US will likely also negatively affect the legal status of Ethereum. Vitalik Buturin and the Ethereum Foundation together hold a whopping $30 billion USD worth of Ethereum in their publicly disclosed wallets that they printed for themselves. Maybe I'm off base here, but I don't think billions of dollars are necessary to "fund" a small team of developers. What are they even doing with all of that money? I dug around on their website, I found no documents disclosing what they do with their funds. Moreover, Vitalik was recently on a Lex Friedman podcast talking about his trading habits with other coins, and Vitalik discussed how he tried to time the top on certain coins like Dogecoin this market cycle. That discussion raised my eyebrows because I never recalled hearing Vitalik disclose that he owned any other wallets. I decided to dig through their website to find anywhere where they disclose their other wallets... and again, I found no such disclosures. Since Vitalik is confirmed to have undisclosed crypto investments, it's safe to assume that Vitalik and the Ethereum Foundation likely hold significantly more Ethereum than what is known in the publicly disclosed wallets. Since there are no regulations in crypto, Vitalik and the Ethereum Foundation have no legal obligation to be transparent about any of their finances or trades. Do you really think Ethereum would have spent the last 5 years working towards transitioning to PoS if the founders didn't hold large ETH stacks? The day PoS goes live on the Ethereum mainnet, is the day that both Vitalik and the Ethereum Foundation's wallets become permanent endowment funds, essentially, destined to forever sit as King of the Hill, collecting taxes as staking rewards while being mathematically shielded from ever seeing their controlled market share diminish. I guess the point I'm making is that Ethereum didn't have to launch like this. They could have had a clean, immaculate conception like Bitcoin. Proof of work consensus chains are supposed to start at the genesis block, the premine was 100% unnecessarily tacked on to self-serve the financial interests of the founders. Rather than making Ethereum a fully decentralized public good, the team opted to make Ethereum their own private business venture. [link] [comments]  | ||
| Leading Senator Urges Congress Not To Pass New Crypto Reporting In Infrastructure Bill Posted: 02 Aug 2021 02:21 PM PDT
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| Learn from Safemoon - How to spot an altcoin scam Posted: 02 Aug 2021 11:31 PM PDT We know the majority of altcoins are legit scams but to many it might be difficult to know how to figure out whether a project is indeed nothing more than a pump n dump scheme. Hence its worth doing a quick case study of Safemoon and people will hopefully learn from it and use that experience to avoid shitcoins in the future. I took a look at Safemoon so you don't have to. Let's dump right on in: So what is a Safemoon exactly? Safemoon launched this March with a circulating supply of one Quadrillion. What's it's purpose you may ask? Nothing is the answer. Even now, reading their website makes the scam very obvious in my opinion. The front page lists three "Functions" or features if you will: dev team burning their tokens, rewards for holding and trade fees that enrich holders. There's no utility here, just incentives for holding the token in order to drive the price up. The same goes for the so called whitepaper. It's 4 paragraphs long and has some lovely quotes such as the one that argues manually controlled burns of tokens is a great way to reward the community. Red flag #1: No specific use case except pumping the token value. The circulating supply of one quadrillion might sound laughable to begin with, but add that with repeated manual burns. They've burned 400 trillion coins already, in a pretty obvious attempt to pump the price. Red Flag #2: Token burns with no other purpose than to pump the price. A key "feature" of Safemoon are the ludicrous fees in order to sell it. If you sell Safemoon you pay a 10% fee with 5% going to existing holders, the other 5% being added to liquidity pools. Security platform CertiK did an audit and found serious issues. Red Flag #3: Built in mechanisms with the only purpose being to reward holders and penalize sellers. My most important indicator follows. Safemoon launched in March and you'd assume development would be thriving with Safemoon being the best thing since sliced bread. Let's check out their GitHub repos. https://github.com/Safemoon-Protocol They essentially have one crypto related repo and that's the Solidity smart contract. It basically has one commit and no activity since May. Other repositories include two Discord bots with one of them being for a Minecraft server. The rest of the repositories are forks from PancakeSwap with no commits. Red Flag #4: No development activity. Lots of forked repos with no own commits, more effort put into Discord bots than crypto related code. I could go on. Look at the people behind Safemoon and their social media presence, look at discussions around the project and see if any of them talk about any technical aspect or if it's all just about price speculation. Scratch the surface and you'll often find an answer very quickly on whether or not this is a legit development team working on something that can change the world. Evaluate the decentralization aspect of the project. Safemoon is the opposite of decentralized with the development team being in full control of the supply mechanics, and even touting it as something positive. Look at who is supporting this project. In the case of Safemoon it's basically a few influencers (probably paid for or attempts to capture quick gains.). The next time you buy a new coin, take a few minutes to do some basic research on the marketing as well as the technical implementation. Scams are often quite easy to spot. The number of shitcoin popping up, especially in a bullish market is staggering. Don't put your money into a pump and dump scheme designed to enrich the team behind it as quickly as possible. By spending a bit of time researching a project before you put your money into it you might invest in something that benefits the entire crypto space instead of degrading it. $100 dumped in a shitcoin is $100 that does not go into something that actually builds the future of financial freedom. [link] [comments]  | ||
| Anyone here who sold during the spring? Posted: 03 Aug 2021 01:44 AM PDT The massive runup during the spring, which started to slow down in May got me to think that it is the right opportunity to sell, and to actually lock in some profits. Ultimately this is what I did. Even though we have came down from those numbers a lot, there is still this funny feeling in the back of my head that what if we get that same pump now, I will feel really stupid about selling. This just goes to show that if I got in Bitcoin when it was 1$ each, I would have probably sold all when it hit 5$. HODL:ing is a good way to invest but when is the right time to sell, you may ask. I always refer to this sentence for advice: Nobody knows shit about fuck [link] [comments]  | ||
| Posted: 02 Aug 2021 07:26 PM PDT I think many of us are bullish on ETH 2.0, but I feel like with all the chart watching it's easy to forget the bigger picture. We are early investors in something that has genuine potential to revolutionize commerce and businesses around the world. [link] [comments]  | ||
| Cryptocurrency bill: Last-minute concessions won! Posted: 02 Aug 2021 07:43 PM PDT After receiving pushback from cryptocurrency lobbyists, lawmakers revised that section of the bill to "clarify" the definition of a broker rather than expand upon it. The legislation also removed language that explicitly targeted "any decentralized exchange or peer-to-peer marketplace." It replaced that with a broader definition that characterizes brokers as anyone "responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person." https://www.coindesk.com/new-crypto-bill-in-us-congress-is-the-most-comprehensive-yet [link] [comments]  | ||
| Truly unpopular opinion: Untraceable coins should have no future and are dangerous to democracy. Posted: 02 Aug 2021 10:48 AM PDT I know people here like privacy, but if cryptocurrencies go mainstream then if have to be traceable. So many countries have one (or more) of theses problems:
And the list go on. And as example, look what happen in Argentina: With Monero (as example) these things would never be public and corruption would go unpunished. [link] [comments]  | ||
| How to check the karma earned in this sub(for newbies who are active in a lot of subs like me) Posted: 02 Aug 2021 10:39 PM PDT Everytime I share the karma I've earned in past month, a series of people ask about how to check it and replying to everyone individually and getting upvotes and being happy about helping someone feels really good and IK alot might still not know how to do it. So thought this might help newbies in the sub. Trust me once you start checking karma, you will set your karma goal and post and help others in this sub to reach that goal. Here's the steps 1. Got to reddit.com( you can only check individual karma in PC only) 2. Click on your profile at the right side top 3. You can see the last but one option as visit old reddit. 4. Click on it and the old reddit will open. 5. Now again look at the right top for your username with your karma in brackets. Click on it 6. This will show your post karma and comment karma. 7. Below that you can see an option " show karma breakdown by subreddit". Click on it. There you go. Hope it helped! If I missed anything do tell in comments. To count the actual karma you earned in last month (2*comment karma from old reddit) + post karma - last month karma from spreadsheet + 20% of last month karma from spreadsheet if you didn't sell = your actual karma in last month. Do tell if it's wrong! [link] [comments]  | ||
| Scammer tried to scam me but I tricked him and scammed him instead. Posted: 02 Aug 2021 05:46 AM PDT So up until today, I've got 3 scammers PM me and say that they own a company and that they can increase my profits (this is the most basic type of scam imo.) I made a post some time ago about one of them, here The scammer who PM'd me today was incredible stupid. Like...the stupidest of the stupid. Here is our convo: http://imgur.com/a/eDk7ZSU He said that he owns this website - eclisetrades.com and asked me to make an account there and deposit 2 BTC. (lol) I asked him to send me 0.0001 BTC as proof that he is legit, and then when he sends me, I'll deposit 2 BTC in his website, I registered to his website just so he gets convinced. Don't worry, I opened it in a browser that has no passwords or anything saved and opened it in incognito tab, as an ex-webdev I know what data someone can and cannot steal. and he.... LITERALLY, being the stupidest scammer of all time, sent it to my address. I don't really care about the free $4 that I got from him, the best part is that I wasted his time. He could've used that time to successfully scam someone. By the way, this is my new address that he sent the BTC to - https://www.blockchain.com/btc/address/1P9s7qn4eLCwJyMWo7RE1vDAHarHM2EXPz And this is the scammer's address (he asks people to send BTC to this address on his website, too, and his latest transaction is him sending me BTC) - https://www.blockchain.com/btc/address/169Jt7BTHRA2MRNP5ADbmhDmxcTyMozTPV It's really sad that he has received over $12K worth BTC and sent all of that out to others. I don't know if he's got all that money by scamming or something but I hope karma gets him. Please be aware of scammers, if someone PMs you saying that they are a company and can increase your profits or anything of that sort, either block them or waste their time, just don't get convinced and send them anything. [link] [comments]  | ||
| which altcoin do you most believe in? Posted: 03 Aug 2021 02:42 AM PDT eth and btc naturally dominate this sub and of course the majority of my portfolio is made up of them but what are some alternative investments worth looking into? i'm not talking about a lottery like coin/token but something close i could put spare change into gradually that has a reasonably good outlook/ foundation and is unlikely to fail completely. it's nice to dream and i'd like a section of my portfolio to be made up of something that is at the moment purely potential (that might never be realised but is generally considered there). [link] [comments]  | ||
| Friendly reminder so you don't forget Posted: 03 Aug 2021 01:01 AM PDT
Last but not least, don't forget to drink water! [link] [comments]  | ||
| Ethereum's London Hard Fork is now 2 days away Posted: 02 Aug 2021 03:21 PM PDT EIP-1559 on Ethereum's network was a proposal to make Ethereum transactions more efficient. It aims to maintain the network and keep it more closer to a usage rate of around 50%. If the network usage falls below this, the fees (base fee) will decrease as well. It will also still allow you to increase the fee (called a tip fee) to decrease the transaction time. The base fee is set algorithmically. Wallet providers will no longer have to set their own gas fees as they will now be set automatically. The proposal will be implemented in 2 days, which is also referred to as the London Hard Fork This feature has been long waited for this year. I will not make any price predictions but it's a very, very large step towards the overall Ethereum 2.0 upgrade slated for next year. [link] [comments]  | ||
| Posted: 02 Aug 2021 11:08 PM PDT Yes buying and holding a long term position is the safer method and generally is healthier for us long term, but also don't be afraid to take profits when you have made a solid gain. I bought into neo when it was still antshares at 6bucks, my roommate and I bought shiny new ledgers, plopped our tokens on and hid them away. We even changed our psn gamertags to "hodl ______" It hit 50 and we were ecstatic but also unflinching. It hit 100 and I was thinking about potential house down-payments, or maybe money for grad school, it closed in on 200, and I was thinking early retirement And then it crashed The money I had invested was not much and I of course could afford to lose it, but the lost profit definitely put me in a funk for a long time, and to this day it is still one of my biggest regrets. All the what ifs, if I'd sold even half at its peak instead of just day dreaming. So I'm sure I speak for many here when I recount my sob story of cryptos gone by. And just say that every strategy has its pros and cons, but hodling until you die isn't necessarily the best or only course of action. [link] [comments]  | ||
| Mini Shiba is down 65,91% in the last 24 hours Posted: 02 Aug 2021 05:22 AM PDT
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| Just a friendly coinbase security warning for noobs Posted: 02 Aug 2021 07:16 PM PDT I set up 2fa earlier this year and realized that i never saved my authenticator totp seed (qr) that coinbase gives when you set up 2fa. I was doing a bedtime security brainstorm and realized if I lost my phone I would probally be fucked with coinbase and their amazing customer service. If you are in the same boat it is easy to fix. Change 2fa to sms (just temp) Disable authenticator 2fa in coinbase ONLY AFTER LAST STEP, delete coinbase from your authenticator Re activate authenticator 2fa in coinbase, it will give you a qr but no seed, tap the qr and it copies the 32 digit totp seed. Set it up again in your authenticator of choice and SAVE the qr and the totp seed. Now sleep easy knowing if you lost your phone you can use this totp seed to generate another 6 digit code to re log into your coinbase account. I know veterans know this but I figure it may help newer people like myself to make sure we don't screw ourselves Make sure you go in order because if you delete coinbase in your authenticator before you remove it in coinbase you will not be able to access account because it will require a 2fa to remove the 2fa if that makes since. !!!!!ONCE AGAIN MAKE SURE YOU HAVE SMS 2FA ON , THEN REMOVE AUTHENTICATOR FROM COINBASE AND ONLY THEN YOU REMOVE COINBASE FROM YOUR AUTHENTICATOR.!!! [link] [comments]  | ||
| What people back in 2014 used to think about reddit having it's own cryptocurrency. Posted: 03 Aug 2021 03:55 AM PDT | ||
| SafeMoon is the worst-performing top 100 coin in the past week, down ~27% Posted: 03 Aug 2021 01:21 AM PDT For comparison, only 16 of the top 100 coins are in the red the past week, with the second largest drop being Telcoin's 14.7% drop. Rough to be down as far as these two are in what has been a good week for most coins. SafeMoon is down about 80% from it's ATH and has been steadily bleeding since that brief ATH. I don't exactly know what folks holding SafeMoon plan to do in terms of an exit strategy, but it's looking hopeless from my outside perspective. I mean I guess you could bUy tHe DiP but I won't be touching this thing. I wish the best of luck to those holding it, though. [link] [comments]  | ||
| What kept you from getting into cryoto? Posted: 02 Aug 2021 11:57 PM PDT For me it was a few things. In 2012, (when I was 13) I told my mom about Bitcoin, that I thought it was a cool idea, and that I thought she should buy some. She wasn't really interested, and didn't trust it lol. So I saved up some money, around $100 that I earned from washing my neighbor's semi truck so I could buy some for myself. Unfortunately my parents wouldn't allow me to, and I had no other way of making a transaction online without their permission. After turning 18 the new stress of rent, life, and bills kept me from making any investments, but I always tried to keep up with what was going on with crypto currencies. Fast forward to last week, I'm making more money than I ever have and I finally have some extra lying around, not much, but I can finally afford to make my first investment. I decided to buy $100 worth of ETH. Today I bought some more, as well as some BTC. It feels to good to finally own some crypto! I have so much more to learn and I'm really excited to see what comes next. Thanks for reading! Anyways, what was it that kept you from getting into crypto? [link] [comments]  |
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