Cryptocurrency Cointest Updates: Winners, rounds ending, and changes made |
- Cointest Updates: Winners, rounds ending, and changes made
- Daily Discussion - October 14, 2021 (GMT+0)
- Yellen says the $600 IRS reporting requirement is "aimed at billionaires". This is insane, I fail to understand how a $600 limit holds billionaires accountable. But it squeezes middle class and crypto holders who have to report every transaction.
- Vladimir Putin: “Cryptocurrencies Have A Right To Exist And Can Be Used For Settlements”
- The Bank of England are claiming crypto may cause the next big crash... Totally ignoring their money printing, housing bubble, Brexit, wild inflation, cheap credit and any of the other numerous economic issues facing the UK
- I hope everything you hold does a 10x.
- Man throws away hard drive containing 7500 BTC. Today his wallet would be worth more than $432.000.000.
- Great Moments in Crypto History - Lily Allen turned down 200K in Bitcoins for a gig in 2009, currently worth $11.5 BILLION
- Thanks to crypto, I can now live luxuriously until I die
- You all cry about Doge and Shiba while BNB quietly crawls back into top 3. This is much worse for crypto
- I made the huge mistake of telling my parents about my crypto investments
- Bitcoin Casinos Are on Course to Overtake Traditional Casinos
- Thanks to crypto, I must now live in poverty until I die
- What do you think will happen when Bitcoin breaks $100K?
- Bitcoin heads towards $60,000 with ETF approval on the horizon
- What is your ultimate goal in crypto?
- My dad (68) has more noticeable profits than me and I'm the one who advised him
- The new $600 bank/IRS proposal is NOTHING like the front page post would have you believe.
- Billionaire Barry Sternlicht Bought Bitcoin and Ethereum for Inflation Protection
- It’s a shame Coinbase was sued for offering lending products with 4% APY. All while Citi’s marketing is flaunting their 12X industry APY of 0.5%, something needs to change…
- Pokemon Go developer Niantic is sharing their vision for the real life metaverse, this is a possibility that Niantic is going to be using NFT's in upcoming projects.
- Are we early? Internet vs Crpyto
- My final year university project: A unified interface for tracking your crypto and stocks, with tools for budgeting, taxes, income management, and a (locally run) AI chat bot.
- Biggest crypto scams so far
- Tell me your crypto dad jokes!
- Bears in Disbelief As Bitcoin Sees Clear Skies Ahead: Crypto Analyst Benjamin Cowen
- I tried multiple ways to earn some free crypto that were suggested on this sub in the past.
Cointest Updates: Winners, rounds ending, and changes made Posted: 13 Oct 2021 11:30 PM PDT Greetings, r/CryptoCurrency! We are pleased to announce the winners of the most recent Cointest round - the Top 10 Category. As a reminder: the r/CryptoCurrency Cointest is an official, ongoing competition for crowdsourcing the best arguments in support of or against crypto topics by awarding Moon prizes to the winning contestants. The end goal is to provide r/CC readers with a balanced source of quality information for their cryptocurrency research. UpdatesWinners – Top 10The Top 10 round ended on September 30th and a total of 10,500 moons have been distributed to the winners listed below:
The new Top 10 round has been live for two weeks. Therefore, as per the rules, contestants are allowed to copy arguments from the prior round, like the ones above, and reuse them in the current round if the original authors haven't done so already. The usernames of the original authors must be cited in the copied arguments, however. Team AdditionsNo new administrators were recruited this round. If you are interested in joining the team, click here for details. Changes
Reminders
Topics Ending SoonThe soonest round to end will be the Coin Inquiries category - deadline is October 31st. Topics registered for this round are: If you'd like to participate in this category, please submit an argument before the end of the month. Good luck! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Daily Discussion - October 14, 2021 (GMT+0) Posted: 13 Oct 2021 05:00 PM PDT Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:
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Posted: 13 Oct 2021 06:12 PM PDT
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Vladimir Putin: “Cryptocurrencies Have A Right To Exist And Can Be Used For Settlements” Posted: 14 Oct 2021 03:31 AM PDT
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Posted: 14 Oct 2021 01:55 AM PDT The Bank of England have, with a straight face, come out and claimed that Bitcoin could trigger financial meltdown. I live in the UK, and we are in the middle of some rather serious economic problems. We have runaway inflation, we have a housing bubble that the government keeps pouring fuel on. We have rock bottom interest rates that the Bank of England are too scared to increase due to the housing bubble. We have energy prices going through the roof, a potential trade war with the EU due to the idiocy of Brexit, and wages that have been broadly stagnant for a decade. We also have a government that has implemented the highest peace-time taxes the Country has ever seen and a social care crisis due to our ageing population. Throw in our endless printing of money and the sums that have been spent on dodgy covid contracts, we are not in a good place. And despite all this, they have the audacity to claim crypto is the real threat?!! We can't even seemingly stock our shops properly at the moment and we've just had a petrol (gas) shortage! Crypto is not the issue facing the UK! Honestly, the desperation of the central banks is at this point clear for all to see. We have immediate and serious economic problems that need to be urgently addressed, but they would rather create bogeymen. I nearly spat my tea out! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I hope everything you hold does a 10x. Posted: 13 Oct 2021 11:54 PM PDT If I could describe so much of the worlds pain and division today I would put it into one word: Tribalism. Tribalism is the idea that "my tribe" is better than yours because of xyz. Going into the crypto space I thought it'd be different but people are people I guess. So to you reading this right now… I hope every coin you hold does a 10x I hope you buy that Lamborghini or Tesla or just the car of your dreams I hope you pay off all your debt- every single damn one I hope you buy the perfect house for your family- all in cash I hope your gains pay for that family members medical bill or that much needed car repair I hope you launch your dream career or open your dream business I hope you find financial freedom I hope you bless that charity I hope you can finally pay the legal fees to adopt that child I hope you send your kids off to college for a life better than the one you had I hope you thank those who believed in you I hope the HODLing and the ups and downs are worth it all I hope everything you own does a 10x and more I hope the absolute best for you Good night! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 14 Oct 2021 05:03 AM PDT In 2013, a man named James Howells threw away his hard drive containing 7500 bitcoins which he mined from back in the days. Those Bitcoins are estimated to be worth approximately $433.837.500,00 as from today. James started as early as 2009 and was one of the first persons to mine BTC but eventually stopped because his (ex)girlfriend started complaining about the noise his laptop would make during the process. He sold his laptop on Ebay and stored his hard drive in his desk. After clearing out his house in 2013 he mistakenly threw away his hard drive which he later found out was the one containing the private keys to his 7500 Bitcoins. Til this day he firmly believes that he could retrieve the lost hard drive but needs a permission from his local council to search the garbage dump in an attempt to recover his lost keys. Unfortunately James Howells gets a repeated "no" for his request to search out the dump after all these years. His local council states that access is being denied due to environmental concerns without having the guarantee that the lost hard drive will be recovered. Satoshi Nakamoto quoted the following about lost Bitcoins. "Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone." Can I get a bold F for our fallen soldier and what would you do in this exact situation? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 13 Oct 2021 05:19 PM PDT
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Thanks to crypto, I can now live luxuriously until I die Posted: 13 Oct 2021 07:50 AM PDT I normally wouldn't like to share my financial achievements with other people. However, I had this strong feeling that I should let everyone know about what crypto did for me. Not to brag or anything, I can now live luxuriously until I die because of crypto. I can just play video games all day, watch anime whenever I want to, and eat expensive food for breakfast, lunch, and dinner. I can do whatever I want, and it is all thanks to cryptocurrency. I am now capable of being financially successful until I die. Assuming that I'll die three days from now. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 14 Oct 2021 05:30 AM PDT Binance is the biggest exchange and it holds most of the crypto in the world - that's bad, mmmkay? But not only theyre biggest exchange but they also launched their own blockchain - and that blockchain is SUPER CENTRALIZED There are only 21 nodes on Binance smart chain! Bitcoin has 14 thousand nodes! Ethereum has 3 thousand nodes! And if that isnt enough - Binance can choose all those nodes xD But wait! Theres more! -> Binance chain is full of SCAM PROJECTS, almost every day a project on binance SCAM chain is rug pulled BNB being one of the top coins is WORSE than Doge and Shiba being top coins Change my mind [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I made the huge mistake of telling my parents about my crypto investments Posted: 13 Oct 2021 01:16 PM PDT So I first started investing in crypto in March and since then I have doubled my money and I'm pretty happy about how things are going so far. Even though I live in my parents house, I have a job and I saved up most of my income in three years of working. I decided to invest gradually and at the moment I have more than half of my savings into Crypto. Yesterday I was feeling a little too excited and also felt that they deserve to know what happens with my money since I still live in their house at 22 years of age. It wasn't a very wise move from me, my mom immediately thought I was joking and started laughing at me. When she finally understood that I was being serious, she started telling me about how I got scammed and it's impossible to ever get that money back because no one would ever wanna trade real money for "fake digital money". I tried telling her that I can cashout whenever I want and she demanded me to do so to prove her. I then asked;
So I refused to cashout. So there's that. My mom now thinks I'm an idiot who got scammed for "fake internet money." My dad? Oh he was okay with it. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bitcoin Casinos Are on Course to Overtake Traditional Casinos Posted: 14 Oct 2021 05:52 AM PDT
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Thanks to crypto, I must now live in poverty until I die Posted: 13 Oct 2021 08:15 PM PDT Normally, I would put money away into a savings plan every month. However I had a strong feeling that crypto will be the next great investment, so every month I put the rest of my paycheck into crypto. The only problem is I can never sell my crypto, only buy. Unfortunately, I must now live in poverty until until I die because of crypto. I have ramen for breakfast, ramen for lunch, and for dinner I photosynthesize for 30 minutes. I can do whatever I want as long as it doesn't cost money, and it is all thanks to cryptocurrency. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What do you think will happen when Bitcoin breaks $100K? Posted: 14 Oct 2021 01:54 AM PDT If you hang around this sub, you probably believe Bitcoin will break $100K this market cycle (unless you are a bear :) ). I believe this is probably the minimum expectation most people have for this market cycle, others call for 120K, 140K, 200K or even more crazy numbers. Personally, I believe BTC will top somewhere between 120K and 140K this market cycle, although I would not mind it going higher. But I do understand that moving the price to these levels, while BTC is already so high market cap, will require a shit ton of money, and also more institutions or companies embracing Bitcoin in the process. But I also cannot underestimate the FOMO and mania that may exist at that point in time when Bitcoin seems to furiously leave 100K behind. So, what do you think will follow when if and when BTC breaks 100K? Will the FOMO, mania and frenzy push the value quickly to 110K or 120K? Or do you think it will plateau there similar to what happened around 60K before trending down for the next bear market? PS. My personal prediction is Bitcoin will battle around 60K for a month or so before leaving it behind for 100K (similar to what happened last year with 20K). I do know that historical trends do not guarantee future price action, but the momentum feels very similar to me, unless we get some really bad news sometime in the next couple of months. Edit: Typo. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bitcoin heads towards $60,000 with ETF approval on the horizon Posted: 14 Oct 2021 04:35 AM PDT
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What is your ultimate goal in crypto? Posted: 14 Oct 2021 03:50 AM PDT Hello dear community! I just wanted to know what is your ultimate goal here ! I think I'm here for a House but I'd like to know about you all ! What is your ultimate goal here? Why are you investing in crypto? If the option is not in the Poll don't hesitate to write it in a comment! If you are here to make millions or billions, what is your strategy? Personally for the house I DCA and don't trade. I wait and wait and wait ! Obviously being an investor since September isn't a big deal but who know I may be making one of these 'I reached my goal' post in a few years ! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
My dad (68) has more noticeable profits than me and I'm the one who advised him Posted: 13 Oct 2021 04:05 PM PDT My dad has been DCAing strictly into BTC and ETH since May after my brother and I convinced him to invest in crypto. (Of course we explained about the risks and how blockchain works) He has definitely more noticeable profits than me who has been experimenting, trying to day trade and buying all sort of alts. Of course I've learned a lot more and I have a much more interesting portfolio with stakings and stuff, but here's my point: If you're going to talk your loved ones into investing you should give them the most conservative advice. Also he is the one who chose the big guys (BTC, ETH), he knows about ADA, Algo, Doge, Dot, BNB, LTC, etc... I guess from his age and experience he knows how shit works. And if you think you shouldn't talk your family into crypto, my dad is happy af with profits he would've never had from his shitty bank savings account APY. TLDR; gave my dad conservative investing advice that I didnt follow myself and his portfolio is greener than mine. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The new $600 bank/IRS proposal is NOTHING like the front page post would have you believe. Posted: 14 Oct 2021 05:28 AM PDT I may get some flak for this but clearly the OP of the current front page post didn't actually read the proposal, nor did almost anyone else in that thread. The title itself and many of the comments are outright false. Let me be clear: I am not advocating for or against the proposal. I am simply trying to make sure people actually know what is going on. What is it actually? The proposal does not check every single transaction over $600. Depositing and withdrawing $700 won't do shit. It is as simple as that. It checks an aggregate sum of all transactions once at the end of the year to see if inflows were greater than outflows. Again let me reiterate: this is only reported once per year, not per transaction. If the delta was greater than $600, it gets sent to the IRS. Also, it won't trigger some automatic audit as people seem to think. In 99.9999% of cases itll go in some folder never to be seen again. But, they can technically use this to cross check with tax returns to see if someone was up to something fishy. It is just another tool in their admittedly large arsenal. Why is it so low? It is allegedly a deterrent from having large corps and wealthy individuals creating a bunch of separate bank accounts to skirt the reporting requirements. It would be quite a hassle to secretly funnel millions/billions through tens or hundreds of thousands of checking accounts. Again, not arguing for or against that number here... just clearing things up. Do the wealthy even use checking accounts that will be affected by this? I am not informed enough on tax avoidance to be able to say. What I do know is that we should be above such blatant misinformation if we want crypto to be successful. That is all. Thanks for coming to my Ted talk. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Billionaire Barry Sternlicht Bought Bitcoin and Ethereum for Inflation Protection Posted: 14 Oct 2021 04:55 AM PDT
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Posted: 13 Oct 2021 05:00 PM PDT The National average APY on savings is 0.04%, which is less than a 10 year T-bill. Right so somehow lending money to the bank is less risky (returns) than the US government whom is technically considered "risk free." Obviously there are nuances to all of this but regulating bodies like the SEC are actively putting up barriers to protect the established players. This helps large institutions and only hurts investors. Hopefully things get sorted and the corrupt SEC backs off. The financial space needs this sort of disruption. Note: Repost because I initially included a graphic and the post was removed. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 14 Oct 2021 01:43 AM PDT
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Are we early? Internet vs Crpyto Posted: 14 Oct 2021 06:04 AM PDT Everyone, including myself keeps asking if we're early. I don't know shit about fuck so I'm going to say yes. I'm also going to put in in perspective with the rise of the Internet Bitcoin launched in 2009 and kick started the crypto revolution. The Internet launched to everyone (beyond governments and big Corp) in 1994, just 15 years earlier In 2006, after 12 years the Internet was being used by 16% of the world's population. Fast forward to now and 66% of the world are using the Internet. Today after 12 years of crypto its estimated around 4% of the world's population invest in crpyto. So even the Internet, which none us can imagine living without has taken nearly 30 years to reach two thirds of the world's population. As adoption of crpyto continues to roll forward the figures will grow and you can consider yourself lucky to be in the minority of the world's population for now. Cause if I know shit about fuck, which I don't, its that we're early. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 13 Oct 2021 09:19 PM PDT Some of you may know of Cryptofolio: https://github.com/Xtrendence/Cryptofolio For my final year project at uni this year, I'll be expanding upon Cryptofolio. The new app, called CryptoShare, will feature:
With staking, mining, and dividends, they would automatically be added to your balance. It'll also be completely open-source, self-hosted without any centralized servers, and would feature multi-user support with encryption for user data. A paid version will most likely be released on the Google Play Store as well, just like Cryptofolio right now, but obviously it'd still be available for free on GitHub too. As far as the chat bot goes, you'd be able to ask it stuff like "can I afford a pizza this weekend?" or "can I afford to buy a $100 coat?" and it'd reply back with a yes/no, as well as how it'd affect your savings and budget. It won't be out for quite a while (I can't make the project public until I get my grade as per uni rules), but I thought I'd make a post so anyone who's interested can keep an eye out for it. It'll most likely be released towards the end of July/August. In the meantime, I'd appreciate any comments or feature suggestions. I'll write them all down, and if they're feasible, I'll add them to the project. Keep in mind that I live in the UK, so in terms of the mortgage, tax and insurance tools, they'll be pretty much exclusively applicable to and designed for UK citizens as it'd be impossible for me to add every country, and it'd be unfair to only do a few. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 14 Oct 2021 04:44 AM PDT
By far the biggest example of an Initial Coin Offering (ICO) scam is Bitconnect. Bitconnect proclaimed to be an open-source cryptocurrency that guaranteed investors 40 per cent returns. However, Bitconnect unfortunately turned out to be a Ponzi scheme that cost its investors an incredible $3.45 billion.
Another major scam that rocked investors was Pincoin, a Vietnamese cryptocurrency that raised about $870 million from 32,000 people. Rather than being paid back in cash, investors were rewarded with a new token called iFan, before the team behind Pincoin disappeared alongside all the invested money.
ACChain was a highly promising ICO token created in Shenzhen, China, which managed to raise $80 million , but it quickly became clear that things weren't as they seemed. A picture of the ACChain headquarters was leaked and turned out to be nothing more than an empty room. By that point, the company suddenly went very quiet, vanishing without a trace.
At first glance Savedroid seemed like one of the most audacious ICO scams of all time, with founder Yassin Hankir posting an image of himself on a beach on social media with the caption "over and out", suggesting that he had fled with his investors' $66 million. However, it appears that this was in fact a publicity stunt, but it still massively shook investor confidence and led to multiple lawsuits.
The PlexCoin ICO scam was notable for the fact that it was shut down by the US Securities & Exchange Commission (SEC) and ordered to pay back much of the $20 millionthat it defrauded people of. The ICO initially promised people an incredible return of 1,354 per cent which in hindsight probably should have seemed too good to be true. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tell me your crypto dad jokes! Posted: 14 Oct 2021 12:55 AM PDT I am a dad and I really enjoy saying dad jokes likes : what do you say to a naughty bee? To Beehive! So I was wondering if any of you came up with really good Crypto jokes over times. I mean it has been 12 years now you should be quite good at it shouldn't you? I just thought of one little dirty but still quite funny for my part as it's an inside joke (pun intended) : when you fart you can tell your wife or kids that it's the Gas fees!! Ok it's kind of lame but I think you get my point. I need to increasey portfolio (badum tsss) of shitjokes rather than shitcoins. Yes I know I am super bored at work so why not passing the time with this little game between all of our community. I think you could give me some jokes maybe coin related so it's even more crypto-ic than just normal ones? It would be fun to really see what you come up with and if we can build a huge database of crap jokes. Please enlighten me with some of your best jokes. Waiting for that Algo wait in line to go to the fiat mine. Toodle ou. Oh right I may need few more characters to get it approved as I think the word count is around 250 and I don't want to be removed for spamming as I repost this sub so maybe I will Finnish with : tLDR : please give me your awesome crypto dad jokes for free [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bears in Disbelief As Bitcoin Sees Clear Skies Ahead: Crypto Analyst Benjamin Cowen Posted: 13 Oct 2021 05:39 PM PDT
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I tried multiple ways to earn some free crypto that were suggested on this sub in the past. Posted: 13 Oct 2021 11:03 PM PDT So I've seen a lot of posts suggesting apps/tasks to earn free crypto and a week ago I decided I'll give it a shot. Now the problem is that I live in a India so some of the things like coinbase earn isn't available here. So, I'll try to list the options I tried. Brave Browser: Most of you probably have already heard and even use this one. Although it is legit and only way of earning BAT tokens, It's not more than 5$ a month for me (remember the ads frequency depends on where you live). I'd still recommend because the browser itself is a lot better than chrome or firefox imo. If you use it on both pc and mobile, it just doubles the rewards (don't forget to select '10 ads per hour' from the ads settings). Presearch: The whole presearch project sounds interesting but in reality it's not very convincing. They offer PRE tokens for using their search engine. Although the rewards are somewhat good (0.10 PRE/search) you can't withdraw them until you reach 1000PRE and that part itself demotivated me from using it. I'll literally have to use it for a year to withdraw anything (they have 30 paid searches per day limit) GeoCash: So this project is also pretty interesting. It offers GEO tokens to the users who share their location data. It's basically a marketplace of anonymous data that uses blockchain and respects users privacy. So, the more you travel the better the rewards would be. I personally don't travel much and thus the rewards were low for me but you should give it a try. Binance Tasks: So recently binance is giving 20$ worth of USDT for completing some simple trade tasks. I got 4$ by completing two of them. The min trade limit starts to grow exponentially when you complete them but you'll still atleast get few USDTs. Algorand Wallet and Governance: So the Algo wallet gives you some additional algo like interest if you hodl it. It's not much but still better than fiat banks lol. And then there is Governance where you commit some Algos (no kin limit) and get opportunity to vote in some of the foundation's decisions it's like staking where you get rewards at end of the period. The first governance period is starting off in few hours so take a look if you haven't already. So that's all for now, don't forget to remind me if I missed something and recommend some more options down below. And create the fooking Reddit Vault so that you can get some moons for your contribution on this sub. [link] [comments] |
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