Cryptocurrency Weekly Updates Megathread - September 2021 |
- Weekly Updates Megathread - September 2021
- Daily Discussion - September 13, 2021 (GMT+0)
- I gave each of my dogs $100 to invest in crypto. I will give them the rewards when they turn 18 (~3 dog years)
- I reported Kim Kardashian to the SEC
- You need One Million dollars to break even on a SOL node. This is a huge problem for SOL.
- Yesterday i payed for coffee with Bitcoin in ...... IRAN.
- Unpopular Opinion: DOGE will not survive in the long term.
- I researched Algorand ($ALGO) so you don't have to!
- 2 months ago, I gave my kids $100 each and asked them to pick three cryptos in a 40:30:30 ratio to track. I will give them all the profits their investment has earned when they turn 18. This is what they chose (and how its going).
- How do Cardano fanboys feel?
- If you bought some shitcoin because some celebrity shilled it to you, and now it’s dropping. You deserve to lose that money.
- Don't let any crypto regrets get you down. Look after yourself.
- People who still think the “bull market” is in full force, haven’t been in crypto long enough
- A 5 point 5 year guaranteed get rich scheme in crypto.
- Ergo-Cardano collaboration te be announced at Cardano Summit, as per Romain Pellerin IOHK CTO
- Amazing article on why you shouldn’t use robinhood for cryptocurrency
- Man Faces 15 Years in Jail for Allegedly Installing 46 Bitcoin and Crypto Miners Inside Government Building
- ERG (Ergo) is getting popular. Don't miss out just because you "don't know how to buy it"
- Stanford researcher-led Pledge raises $3M for decentralized lending protocol
- El Salvador government will exempt foreign investors from taxes on bitcoin profits.
- My partner shared her seeds
- When it comes to crypto, whose opinion do you trust?
- It’s absolutely mind boggling and disgusting how those rich influencers STILL feel the need to scam people for money
- Of all the generations that are skeptical of crypto, Gen X is the most disappointing
- Crypto investing made me healthier and more responsible
- Its much more safe to hodl than sell...
- Already over 70,000 NFTs are issued on ADAs Blockchain as Smart Contracts go Live
| Weekly Updates Megathread - September 2021 Posted: 12 Sep 2021 08:00 AM PDT Welcome to the Weekly Update Megathread. This thread is for aggregating weekly news summaries from the past week whether it's articles, coin prices, market cap changes, etc. It will be pinned once a week if there's an open slot. Only approved contributors may submit a summary. If you have a new type of summary and want to become an approved contributor, submit an application in r/CryptoRecruiting and ignore most of the questions pertaining to mod recruiting. Just state what your background is, how much account age and karma you have, and what your news summary will be about. Please make sure to support the contributors with upvotes, moon tips, or follow them on new Reddit if you appreciate their work. Also follow u/CryptoNewsUpdates so you can be informed when the next Weekly Update thread is posted. RULES:
APPROVED USERS: Be advised, this thread is an experiment and a work in progress. Expect changes in the future. EDIT: Formatting [link] [comments]  | ||
| Daily Discussion - September 13, 2021 (GMT+0) Posted: 12 Sep 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: 12 Sep 2021 03:53 PM PDT Being a man of science who also loves his dogs and crypto, this was an opportunity I could not pass on. Like the title says, I "gave" each of my dogs $100 to invest in crypto and plan on giving them the rewards (probably in the form of special treats, food, toys) when they reach the appropriate age. For practical reasons I did not create accounts for them in an exchange, we will be using my account instead and I will be managing their funds for the time being. Just imagining how long the verification (kyc) process would take for them gave me a headache. Moreover, my dogs are still not very good using the keyboard or touchscreens, so it made more sense for me to do it. Even though I am technically managing the funds for them, they were actually the ones who decided which projects were worth investing in. In order to save time I decided it would be best to show them the logo of each crypto and read them the name, if they barked, that meant they wanted me to buy some. I decided to allocate their $100 in three equal parts among the first 3 projects they barked at. This way they would have a diverse portfolio. The results were the following:
Like I said, the decision was theirs, I have to respect it. Gandalf was probably just hungry at the moment and thought I was offering him cake and the sight of a doge and shiba dogs made him happy. Attila probably chose doge for the same reason, and I guess he reacted at the word "bat" because he hates bats. At first I was surprised when he chose ADA. I thought he had probably been reading up on the project and read about the smart contracts being implemented today. Now I just thing he though I said "ADA BOYYY". I will let you know how these investments turn out, remember it's important to think about your pets' financial future as well. EDIT: Wow thanks everyone I1m glad you were entertained, btw these are some of the funniest comments I have ever seen! [link] [comments]  | ||
| I reported Kim Kardashian to the SEC Posted: 12 Sep 2021 09:53 AM PDT I reported Kim Kardashian to the SEC because she has promoted the "Ethereum Max" scam Crypto, which is down 98% from all time high, to her followers. You can report her too here. She did only only profit from the scam, but has also put the name of Ethereum in a bad light. There is no need for a multi millionaire celebrity to steal money from her fans [link] [comments]  | ||
| You need One Million dollars to break even on a SOL node. This is a huge problem for SOL. Posted: 12 Sep 2021 02:29 PM PDT Reposting because the automod deleted it. Two data centers control 45% of the Solana network. This is very centralized. In order to run your own Solana node, you have to pay 5000$ minimum for the hardware, and you also need to pay 1.1 sol per day. This works out to 70,000$ per year. You also need to pay for the electricity to run your computer 24/7, let's say 3000$ as a very conservative estimate. Since Solana has around an 8% APY, that means that you need 1 Million dollars in SOL to BREAK EVEN. You are losing money on a Solana node unless you have more than 1 Million dollars. This is a fucking joke. How can we call a platform decentralized when it costs 1 Million dollars to run a node, and 2 data centers essentially control the network? I know this is going to get downvoted because this sub loves SOL, but whatever. I need to share the truth no matter how unpopular it is. EDIT: Check out the pinned comment below, I made a few minor errors [link] [comments]  | ||
| Yesterday i payed for coffee with Bitcoin in ...... IRAN. Posted: 13 Sep 2021 02:19 AM PDT
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| Unpopular Opinion: DOGE will not survive in the long term. Posted: 12 Sep 2021 05:43 PM PDT Doge started as being a good joke and a good marketing idea for a funny crypto. the truth is, like every joke that is repeated over and over again, with time, that joke stops being funny. That's what it seems it happened to Doge, many people got rich with Doge, there is people that rather hodl more Doge than BTC which totally makes no sense. Doge keeps being outpaced in terms of Market cap, first ADA, then DOT and now SOL have more Market cap. i am no longer investing in Doge not even with gambling money, many cryptos are out performing it. It keeps losing value without Elon Musk mentioning it or tweeting it every week, it has no use in the world rather than being a funny meme. Unfortunately it will die in the long term. Also keep in mind, Doge is a inflationary asset which makes no sense to hodl it in the long term. I am not a Doge hater, i am just saying my opinion about it, if you have some arguments in favour of Doge being a good hodl for a long term i'd like to hear it thanks for reading! [link] [comments]  | ||
| I researched Algorand ($ALGO) so you don't have to! Posted: 12 Sep 2021 04:44 PM PDT
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| Posted: 12 Sep 2021 04:03 AM PDT
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| Posted: 12 Sep 2021 05:43 PM PDT The upgrade is complete with the first 69 transactions recorded. We've been waiting a long time for this and it will now be an official use coin. Nobody can say it doesn't do anything from this point forward. Of course there's some dApps to onboard still and much work to do in general, but we are live nonetheless. We sit at about the same price we've been at for a month, but anyone who doesn't know shit about fuck knows it wasn't going to moon on day one. This is just the beginning. ADA will be used to do good things and join a few others such as Algo to revolutionize Bitcoin alternatives, likely bringing other coins to the forefront. Cardano is the coin that drug me into the crypto world after seeing Project Catalyst and understanding the type of scrutiny put into its development. It may not be perfect, but ADA has a lot of positive passionate behind it. I HODL about 6 other coins and don't care for tribalism. I welcome all good ideas but want to hit this soapbox for a minute to congratulate all those who stood up for Cardano the last couple years regardless of the FUD and naysayers. ADA being great will likely mean your coin of choice has a better chance at being great. We're all in this community together, so let's all be happy for everyone's victories. [link] [comments]  | ||
| Posted: 12 Sep 2021 12:07 PM PDT Kardashitan, Floyd Moneyweather, Soulja Kid, FaZe clan, heck even Tana Mongeau, who the hell even is that bitch? Seriously, if you bought some coins shilled by those millionaires, billionaires, you totally deserve to be punished for it. You thought that those guys with a pile of cashes on their couches, are here to give you some life changing once in a lifetime opportunity, to invest few hundreds to gain millions in a blink of an eye, you're totally delusional. I'll not even mention the shitty financial crypto gurus, on YouTube, TikTok, or at any social media platforms. Yeah, there are some diamonds in this sea of shit, but still, be AWARE! Do your own fucking research. They are shilling those shitcoins, in their own interest, to make their bags even more full. They're not here to make you RICH, they're here to make RICH OFF of you! [link] [comments]  | ||
| Don't let any crypto regrets get you down. Look after yourself. Posted: 13 Sep 2021 12:56 AM PDT I've read countless comments about folks being angry/depressed/disappointed at themselves for not investing in a particular coin and a specific time, or selling a coin at the wrong. There are also many who feel they are too late to the crypto scene. There will be more chances. There is no need to be hard on yourself. We all want better financial stability but you have to be kind to yourself my friend. Crypto is generally still finding its footing. Don't be surprised if in a couple of years the charts look completely different compared to today. There will always be new projects and developments. There will always be opportunities to get in on early. Try not to chase pumps though. Dollar cost averaging is generally a better strategy compared to buying the dip. Also remember to give things time. Trying to get rich overnight an easy way to get yourself rekt. Looking at charts all day is not healthy though. Maybe set aside some crypto time each day but remember to please look after yourself. Try to eat healthy (and use that junk food money to rather DCA). Step outside, get some exercise. Even if it's just for a nice walk. Spend time with family, friends and hobbies. Get enough rest and drink water regularly. Take a deep breath, slow down, do you research and enjoy the ride. [link] [comments]  | ||
| People who still think the “bull market” is in full force, haven’t been in crypto long enough Posted: 12 Sep 2021 09:38 PM PDT Now I don't want to be that guy who is talking bearish because crypto going up only benefits me substantially, but it has come to my attention that every single time there is a rise at all everyone starts becoming overly bullish. This rally we just briefly had is typical after a blow off top in market cycles. There is always a strong recovery rally (essentially a bull trap) after every major drop off, have another look at 2017 and 2013 for reference. Assets almost always don't collapse straight away, it's always hard to see when you're in the moment of what exactly is happening. Bull markets are full of constant higher highs and treading above the 21 Week SMA, it's just time and time again history repeats itself and we haven't had a higher high for months. All in all there is absolutely no way of knowing for sure what is going to happen but just keep in mind, look at the bigger picture and we could still be in a bigger bear macro trend, and this could be that reaction rally that fizzes out. Just keep level headed and realistic about price expectations and predictions, and keep DCA'ing, the rest is just noise, don't buy into the hype of everything going 20x within a couple months and bitcoin has to be 200k by this years end. This is a patient mans game. EDIT: It has came to my attention that people are taking this way too personally. This isn't a "bearish" post or trying to tell everyone to be bearish it's too be careful at times like this where everyone thinks we're on the bull trend again, which is exactly what happens with every reaction rally. Be wary of both directions, too many people are thinking it's got months left of pumps so chasing the pump ASAP. Be patient or you might get creamed if the market happens to swing the other way. People on this sub get way too sensitive anytime someone posts something half realistic. Also people saying i think I'm some crypto expert and that I can predict the market. Nice of you to say that and try get upvotes against me but I just never made that claim. Didn't know suggesting people to take into account a possible bear trend is "claiming to be an expert" but I guess we learn something new everyday. Am I telling you what to do with your money? No I'm not. [link] [comments]  | ||
| A 5 point 5 year guaranteed get rich scheme in crypto. Posted: 12 Sep 2021 10:31 PM PDT From all of my research, I have noted some common themes to getting rich in crypto. I've narrowed my analysis down to 5 simple points. If you follow this is strategy, you will see a return of more than 1000% in 5 years. 1: DYOR. Find a few coins with good projects that you beleive in. They don't have to be the majors, but they should be solid. Avoid meme coins. 2: Transfer them to a wallet and store the seed phrase on paper somewhere safe. 3: Cut all your connections to crypto - exchanges, forums, news articles etc 4: Enjoy life. Work out. Have lots of sex. Don't talk to anyone about crypto. 5: Wait till 5 years have passed and re-open your wallets. Congratulations. You're rich. [link] [comments]  | ||
| Ergo-Cardano collaboration te be announced at Cardano Summit, as per Romain Pellerin IOHK CTO Posted: 12 Sep 2021 09:14 PM PDT
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| Amazing article on why you shouldn’t use robinhood for cryptocurrency Posted: 12 Sep 2021 07:58 PM PDT
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| Posted: 12 Sep 2021 04:47 AM PDT
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| ERG (Ergo) is getting popular. Don't miss out just because you "don't know how to buy it" Posted: 12 Sep 2021 02:18 PM PDT The general consensus from this subreddit appears to be that ERG is one of the new favorites here. And for good reasons:
And so forth. So yes, this is the most early point for ERG investors. But the same concerning statements keep coming up here:
I'm sorry, but these are terrible, terrible excuses. I understand the concerns for investing on an exchange you're not familiar with, but these are all reputable exchanges (KuCoin being one of the top 5 right now in terms of volume). And by the way, you can mine ERG with any GPU that has more than 3GB of VRAM Imagine having the same thought process for Bitcoin back in say 2012. Buying Bitcoin back then was not exactly easy as it is today. No one really understood anything about wallets, deposits were harder through banks, etc. But it was possible. And it's even easier today for coins like ERG. I can say first hand that KuCoin is a reputable exchange. Yes, you can deposit USDT. Yes, you can trade ERG for USDT. Yes, you can withdraw your ERG to another wallet. It works just like any other exchange. And yes, some of them use KYC. It's not a big deal. And yes, it is without question getting listed on Coinbase and Binance. No, that is not confirmed, nor can it be as the developers literally aren't allowed to even speak about new exchange listings until they're given approval. TL;DR Don't be lazy. Search how to buy ERG if you're interested in it. KuCoin is one way and is a decent way to buy it currently. Just sign up, verify yourself, deposit USDT, trade for ERG, and you're done. EDIT: Christ. Yes, DYOR. That should be common sense at this point. Don't listen to me, actually read up about the project. I don't work for Ergo. I don't work for Cardano/IOHK. I don't care if you choose to buy it or not. I'm not telling you it's going to explode or implode. But if you are interested and have done sufficient research, the whole point of this post is to not let a dumb excuse get in the way of investing in it early. [link] [comments]  | ||
| Stanford researcher-led Pledge raises $3M for decentralized lending protocol Posted: 13 Sep 2021 12:02 AM PDT
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| El Salvador government will exempt foreign investors from taxes on bitcoin profits. Posted: 13 Sep 2021 02:39 AM PDT
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| Posted: 12 Sep 2021 10:02 PM PDT
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| When it comes to crypto, whose opinion do you trust? Posted: 13 Sep 2021 03:00 AM PDT Ok, the obvious answer is yourself so please don't reply with that - and 'no one' is also not much of an answer either. So, if you're thinking of commenting either of those HA! - beat you to it. Doesn't have to be someone who tries to present themselves as an expert, or someone who claims to be capable of technical analysis, just someone whose opinion might affect how you decide what your portfolio is made up of. If they drop something, you'd be likely to drop it - if they add, you're likely to consider adding some of that too. [link] [comments]  | ||
| Posted: 12 Sep 2021 12:57 PM PDT Kim kardashian and floyd mayweather just to namedrop a couple, OBVIOUSLY they don't need more money but they WANT more, and they don't care how they get it. It's absolutely abhorrent how these people feel like what they did is O.K and we should definitely NOT be silent about this. I know people are already talking about this but im asking u - do not forget! They not only leech off of their fans but they are making the whole space look like a joke, bringing in more scumfluencers who want to do the same. it's hurting adoption it's hurting innocent people who don't know better and it's honestly just sad. They need to know what they did was wrong from the community, and hopefully enough uproar will actually get the authorities involved. I'm honestly disgusted. U R RICH ENOUGH ASSHOLES. Holy fuck! [link] [comments]  | ||
| Of all the generations that are skeptical of crypto, Gen X is the most disappointing Posted: 12 Sep 2021 03:32 PM PDT Obviously every generation has its skeptics, but some are less understandable than others in my view. Gen Xers (people in their early 40s to mid-50s) are old enough to have grown up before the internet. In fact, many of us grew up as kids before it was common for people to have a computer in the house. A real computer was something you might be able to get to at school or at the Boys and Girls Club, but the ones anyone had at home were basically toys. At least in my area. We remember clearly when the internet came along and how it revolutionized everything. We were old enough (in our 20s mostly) to understand the implications of the revolution in real time because it was affecting our jobs and our lives on a day-to-day basis. But we were young enough that we could jump on the wave and catch it wherever it was going. Personally, I entered college with an electric typewriter and postcards and left with a computer and an email address. I specifically remember the first time a teaching assistant said that he would email us the course requirements instead of us coming to his office to pick them up. Hopping on GeoCities to find out about people all over the world was game changing since many of us had had the experience of keeping in touch with distant friends mostly with handwritten letters. I remember explaining to my mom that no, CompuServe does not "own" the internet and it can't "go out of business". We have already lived through a digital revolution. We were awake and grown for the before and the after. So I'm always dismayed when I talk to other Gen Xers who claim that crypto is just a big scam and are unwilling to figure out what it is or how they can benefit from it. I always want to say, "Dude! Don't you remember when the internet was a new thing and older generations dismissed it and said it served no purpose?? This is the same story. And you already know how these stories end. The new, better technology wins." Boomer skeptics are firmly in charge of the legacy financial system. They have a vested interest in minimizing crypto. Millennial skeptics have less direct prior experience of a technology revolution because most of their lives have occurred after the last one already happened. Gen Z skeptics mostly don't have a lot of skin in the game yet. But Gen X has no excuse. We're old enough that this turning should feel familiar, yet young enough not to be too entrenched in the old ways. We're in the best position to take advantage of crypto because we, of all people, should understand the power of a revolution. [link] [comments]  | ||
| Crypto investing made me healthier and more responsible Posted: 12 Sep 2021 11:29 PM PDT I started investing this year as I really wanted to make some money since the minimum wage sucks in my country. I tried looking into stocks but then friend of mine got me into Cryptocurrency. I started to DYOR and found that it could be much more profitable for me. As for it's volatile market I could only afford what I could afford to lose. Losing fiat would be pretty disastrous for me due to barely getting rent. I didn't have much saving either. To be able to invest I put all the "affordable money I could lose". I started to cut down on fast food every other day, cut down on my gambling in betting on soccer online and quit smoking(not completely but getting there). Since then, I have successfully 2x my "unhealthy money" and became healthier and financially better as well. I believe we are early in this market and there are more and more gains to be made. I learnt the advice "invest what you can afford to lose" from you guys so I would to thank you all. Cheers guys! [link] [comments]  | ||
| Its much more safe to hodl than sell... Posted: 13 Sep 2021 02:50 AM PDT It is much much safer to hodl and DCA than trying to time the market. If you sell your BTC / Crypto and the price keeps shooting up, there is absolutly NOTHING you can do to fix that, u will have to re-enter at a higher price (depending on your portfolio size that could mean tremendous lossses), never enter again or hope the price goes down below your sell price. If you hodl, and the price tanks, you can easily fix that, especially if you have a long enough timeframe. When the price goes down, you can simply wait for it to recover and make your money back (unless its a shitcoin that might never recover), on top of that if you are confident with your project, you can buy more at discount. Remember, bull markets make money, bear markets makes millionaires. So if you hodl, the worst case scenario is that you will be able to stack at a massive discount, wich could change your life. If you sell and price shoots up and after a correction it doesnt come back down where you sold, that is nothing short of a nightmare. It is much much safre to hodl and DCA than trying to time the market. You haave a chance to change your life, dont be greedy and think you can time the market. Every succesfull investor became succesful by holding, not selling. [link] [comments]  | ||
| Already over 70,000 NFTs are issued on ADAs Blockchain as Smart Contracts go Live Posted: 12 Sep 2021 04:29 PM PDT
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