Cryptocurrency Daily Discussion - October 17, 2021 (GMT+0) |
- Daily Discussion - October 17, 2021 (GMT+0)
- People get very greedy on this sub sometimes, don't listen to them. As long as you made profit even if it's 10, 20, 50 or 100% you've won. Enjoy it!
- Do you need a crypto tax software? I'm considering writing an open source desktop app to sift through the reports that exchanges provide and comparing it to market history data to generate usable gain/loss summary documents
- People are making Millions in Crypto because they already have several thousands to start with!
- Sex worker speaks out after being denied business bank account - this is exactly why decentralised crypto is the way forward, banks have too much power to dictate how people can live their lives.
- Massive Scam Happening In The NFT Community
- CEO of Epic Games welcomes blockchain games after Valve removes them from Steam
- Now that Crypto is reaching ATHs again. There will a lot of new people joining crypto, instead of mocking them for not knowing the basics. Let’s help them and give them a fun environment!
- It really grinds my gears when people tell me I’m too poor to invest in crypto
- If any of you make substantial money from crypto, keep it to yourself. Not everyone is your friend.
- Mark Cuban Won't Invest in Bitcoin ETF, Prefers to Buy BTC Directly
- Shib is down by 20% while BTC & ETH is up by 15% in a week. Utility = Profit.
- What are your best low cap alt coins gainers this bull run?
- Unpopular opinion: this sub is an echo chamber
- I used to hate Mark Cuban, and love Elon Musk.
- Shitcoin investing strategy for the born degenerates
- Let’s take a moment for the 50.000 traders whose shorts got liquidated
- My local bakery now accepts cryptocurrency, mass adoption is coming
- A trillion-dollar coin could be minted within hours of an emergency decision to do so, former US Mint director says
- VeChain Price Predictions: How High Can Coming Upgrades Take the VET Crypto?
- Where to find 100x potential.
- Are you taking profit in light of recent pumps ?
- We are at the bottom of next bear market!
- Thanks to Crypto I’ve been able to afford life changing medication!
- “We are not interested in adopting Bitcoin as a currency,” says Mexico’s president
- YSK about these common crypto scams
| Daily Discussion - October 17, 2021 (GMT+0) Posted: 16 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:
Useful Links:
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| Posted: 17 Oct 2021 01:24 AM PDT People get too greedy here sometimes. I keep seeing posts about doing 2000x and never selling etc. but it's important to have realistic goals and sticking to them. If your plan is for example to buy a house "hodling forever" is just stupid. You need that house now, not in 20 years time. Plus having a house early will save you a ton of money on rent. I often compare my profit taking with traditional assets and I always feel good. I took some profits recently. Around 200+% on one of my coins and let me tell you at first I thought "maybe I sold too early, maybe I should have hodled for longer? Everyone keeps telling me we are still early" But then I compared it to my other investments and let me tell you, I've never had any other investment return over 200% profit in my entire life. I've made more with that single sale than I did in my entire life from investing. If I had to do this with my savings account or regular stocks it would take me years and I would probably never doubled my money. It's all about perspective. Have a goal. Realise gains once in a while. Maybe have some stablecoins waiting to buy the dip but don't feel bad if you've sold earlier than everyone else as long as you are in a green, you've won. Good luck everyone! [link] [comments]  | ||
| Posted: 16 Oct 2021 10:39 PM PDT Title says it all really. This sub has been good to my gains this year so I'd like to give back by providing this service if its useful to people. I know solutions currently exist but have heard pretty poor things about them. So I'm trying to gauge how many people might be interested in something that takes the documents the exchanges give you and generates actual useable data by going back and looking at market history and determining US dollar value at time of transaction. I could write this pretty quick but won't waist my time if there is no need. Feel free to give suggestions on what you would like to see included in the product. If no one needs this then I won't bother developing it for the public. Your call reddit. [link] [comments]  | ||
| People are making Millions in Crypto because they already have several thousands to start with! Posted: 17 Oct 2021 02:32 AM PDT You may see and hear the stories of these Crypto millionaires, and how they came upon their riches time and time again in the media. I am sorry to say but to make serious money in Crypto, you need to have a lot of money invested and not just a $100… I see plenty of retail investors get discouraged seeing Crypto money being flaunted by kids and celebrities online. They don't understand the principle of "money makes money" This goes for miners too as there were these 14 year old kids in the news recently for making 30k a month. What most don't know is the fact that their already wealthy families purchased the required equipment for them which costs thousands of dollars. The fact that the media will leave out critical details like this is very worrying. [link] [comments]  | ||
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| Massive Scam Happening In The NFT Community Posted: 16 Oct 2021 09:34 PM PDT I just got sent a discord channel invite from someone. It was an invite to Cool Cats NFT channel. They're a highly profitable and respected project and the message said they were doing a massive giveaway. I decided to check it out. Pop in and I'm sent to their verify channel which is usually pretty normal. Shows they have 95,000 members and all that. They require you to !join command to verify and you get sent a message by the bot Collab.Land to connect your MetaMask to verify. A little weird to verify using your wallet just to join a channel, but whatever. Thought maybe that's just how they do it? So I type in my password to unlock my wallet and then it asks for my seed phrase.. I was on my iPad so I thought maybe I hadn't logged onto/set up my metamask on here yet so I was looking for my seed phrase. I got distracted looking for it for awhile and came back a lil later and tried again when I started thinking this is kinda odd… I've used Collab.Land quite a few times but this was my first DM to the bot… odd. Searched my DMs for "collab" … BOOM .. two identical bots come back. One with all my previous messages and that new one.. I'm like wowwwwwww. Go back to the "Cool Cats" discord welcome channel and there are soOoOo many people joining and I'm like this is so bad!! I typed "THIS IS A SCAM!" And hit enter. My message was immediately deleted and the server was deleted from my server list. Someone or some people created a completely identical Collab.Land bot, very legit looking Discord channel with 95,000 members!? , and an extremely legit MetaMask modal that I'm assuming is harvesting everyone's seed phrases and wallet login passwords. Haven't seen a post about it yet. Spread the word. This one is elaborate. Help others to not get scammed. [link] [comments]  | ||
| CEO of Epic Games welcomes blockchain games after Valve removes them from Steam Posted: 16 Oct 2021 06:15 AM PDT
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| Posted: 16 Oct 2021 10:01 AM PDT Always, during bull runs a lot of new people get interested in crypto to join in on the hype! Which is good for crypto because we like adoption! A lot of them won't know the basics, like Market Cap, difference between good and shitcoins and a lot of other stuff. Instead of mocking them for thinking Shib can reach $0.1, teach them about market cap and how it's almost* impossible for that to happen. *almost because nothing in crypto is impossible. This sub did teach me a lot, but I was a lurker and I didn't ask any questions, I only read other people's question and people answering them. Most of them were nice, but some were not so nice. Do your part for helping crypto grow! [link] [comments]  | ||
| It really grinds my gears when people tell me I’m too poor to invest in crypto Posted: 17 Oct 2021 03:28 AM PDT Im told that Im too poor to invest into crypto by my relatives a lot. Mind you that my relatives are quite well off and Im the black sheep of the family since Im a single dad with not so respectable job and in their eyes Im a lazy little man-child. Last time that we had lunch together they asked me if I still "do cryptocurrencies" and I said that yeah I save just a little at the end of the month by not buying myself drinks or fast food or stupid things. Its a 2 digit number in the very low end but still they gave me shit for that because Im "too poor to invest " especially in "grey market such as crypto". I smiled but didnt appreciate that at all. Then I was asked why am I using that little money that I have to invest in crypto instead of spending it on my children. I was pretty damn angry. I do everything for my kiddos, work 2 jobs and still some people give me shit cause I put a tenner in at the end of month. Crypto is for everyone regardless how poor they are. Dont let anyone tell you different! [link] [comments]  | ||
| If any of you make substantial money from crypto, keep it to yourself. Not everyone is your friend. Posted: 16 Oct 2021 12:41 PM PDT I used to live in a shelter in Toronto. Met a lot of people and we were all broke. Broke people can be friends.. but when I started getting my life together and saving money, I told only some of my friends how much I had. I don't know if they told other people out of jealousy or what but people I barely knew came out the woodwork asking to borrow money. They and even my friends gave me the cold shoulder when I refused. I guarantee you it will be the same if you have a substantial amount of money. People get jealous and start acting entitled to your money because they have less.. and that's not ok. Don't let ANYONE make you feel bad or guilty if you don't want to share.. truth is, they have the same opportunities as any of us here and they don't take them. You are the ones who wake up everyday, earn your money and learn how to invest it. You don't owe anyone! Even your own family can turn on you.. matter of fact, I'm 35 and I have found family to be the least dependable and the ones who will stab you in the back the most (Not going to apply to everyone obviously) Stay safe and focused my people! [link] [comments]  | ||
| Mark Cuban Won't Invest in Bitcoin ETF, Prefers to Buy BTC Directly Posted: 16 Oct 2021 05:17 PM PDT
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| Shib is down by 20% while BTC & ETH is up by 15% in a week. Utility = Profit. Posted: 17 Oct 2021 12:43 AM PDT With the weekly close nearing, most of the top 10 coins are in excellent position for a rally but meme coins like Shib and Doge are in the Red. DogeCoin went as low as 12% followed by Folki down by 15% and Shib down by a whopping 19%. It seems meme coins do not follow a traditional market movement and I would say they have a cycle of their own, even separate from Altcoins at times. Trading on emotions has never ended well and I'm glad investors are choosing utility over memes. If you're invested in meme coins just because of the meme of it then you don't have anything to worry about, I love to have a couple of Doge coins too. But if you're in it to get some money then you're playing a risky game, trading on emotions has never ended well. Just to point out utility coins like Dot is up by 33% in a week, ETH is up by 16% and shows great aspects of breaking out to 5K region, SOL is up by 11%, even BNB a centralized coin has made 15% gains. [link] [comments]  | ||
| What are your best low cap alt coins gainers this bull run? Posted: 16 Oct 2021 07:24 PM PDT Obviously we have seen a lot of people around here saying about cardano, matrix, algo, xrp, sol, polkadot etc. This is more about alt coins who have a low market cap, limited supply and don't have a massive amount of exposure yet but have a lot of potential. Are there some hidden gems out there that could really explode this bull run and they will be around for years to come after the bull run is over? My favourite low market cap limited supply one for this run is EMC2 but would love to hear some other ones. Cheers legends 😎 [link] [comments]  | ||
| Unpopular opinion: this sub is an echo chamber Posted: 17 Oct 2021 02:34 AM PDT I would like to start out by saying I'm balls deep in crypto. I feel like this subreddit is making all of us more posituve about the crypto space, but not necessarily in a good way. Great news are hyped up, and nobody wants to hear anything about any bad news. FUD is always not as interacted in here as posts about positive content, as well as being downvoted like crazy. The only negative news that make great interaction in this sub are the news regarding other institutions that make crypto look good. Every one only wants to hear the good about the thing they put their savings in. They want to feel reassured that they made the right chioce. But not everything is pink and beautiful in this space. There are some downsides, even though people often tend to avoid them. Projects tend to fail, markets sometimes crash. Don't get me wrong, I fully believe crypto is going to succeed, one way or another. I just think that some more mixed news are better for the average person to keep the mind sane, and not brainwash them into thinking they hit the jackpot. [link] [comments]  | ||
| I used to hate Mark Cuban, and love Elon Musk. Posted: 16 Oct 2021 08:53 PM PDT Now I hate Elon Musk, and love Mark Cuban. Before you begin with the downvotes, Elon Musk, was once loved by many as his ambition and accomplishments brewing in 2014-2016 seemed larger than life and almost miraculous. What I didn't expect is Elon after opening his Twitter to be a self-absorbed ego centrical teenager who tarnished any legacy he had by shilling crypto. Mark Cuban on the other hand was so ungodly arrogant and obnoxious after his Mavericks won in 2011, his over the top shark persona in his new hit reality show, but then he really changed it all around when when he opened his stadium and NBA team to crypto well before anyone else was sticking their reputation on the line. He's an OG and deserves praise. It's funny how things change! [link] [comments]  | ||
| Shitcoin investing strategy for the born degenerates Posted: 16 Oct 2021 05:04 PM PDT If I can't stop you from playing the shitcoins game, maybe I can teach you how to win... Here is a shitcoin investing strategy you can adopt and hopefully perfect to work for you.
PS: The 10X is my idea. You can set your exit profit target to be 2x, 5x, 10x, or something even higher. The choice is yours but make sure you stick to it, no matter what. EDIT: A lot of people are asking in the comments "where do you find shitcoins to buy early?" To discover new shitcoins early, check the recently listed section of CMC and CoinGecko daily. CMC and CG listings are usually the beginning of shitcoins pumps. And it filters the absolute shits who rug pull even before a CG listing. [link] [comments]  | ||
| Let’s take a moment for the 50.000 traders whose shorts got liquidated Posted: 16 Oct 2021 05:15 AM PDT Let's take a moment to laugh at them. In the last 24 hours, 48.012 traders got liquidated because of shorts they had placed on bitcoin. A total value of $211 MILLION dollars was liquidated from bears. The largest single liquidation happened on Huobi for a value of $2.21 M. I don't know what it is, but seeing bears get liquidated gets me up in the morning. I know that dips hurt us all, but in the end you just know you'll have this feeling of bears getting rekt again, sooner or later. I hope you guys' morning coffee is as sweet as mine: Milk, sugar, rekt bears. Have a great green dildo day friends! [link] [comments]  | ||
| My local bakery now accepts cryptocurrency, mass adoption is coming Posted: 16 Oct 2021 04:47 PM PDT I went to my local bakery yesterday, and found out it accepts bitcoin, dogecoin and bitcoin cash. Keep in mind, this is a very small family owned business operating out of a small shop. This isn't some massive franchise bakery, so the fact that they now accept crypto is phenomenal. I've known the owners for a while now, and have expressed my happiness towards this decision to allow crypto. The fact that a small family business can accept crypto make me hopeful for the future. Even though adoption is a slow process, it is great that small shops are taking the first step. This will hopefully force big businesses to to also adopt cryptocurrency as payment. Just thought I'd share the news, as I find it really hopeful. [link] [comments]  | ||
| Posted: 16 Oct 2021 07:31 PM PDT
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| VeChain Price Predictions: How High Can Coming Upgrades Take the VET Crypto? Posted: 16 Oct 2021 09:22 PM PDT
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| Posted: 17 Oct 2021 01:19 AM PDT Not financial advice. As BTC recovers to its ATH I see a lot of new people coming in again, asking what is the next token/coin to explode. Most of the suggestions are protocols that are already on centralised exchanges, these are not going to be your 100x tokens, because they've already had the exposure needed to get listed on centralised exchanges. Of course there is every chance they can still do 2-5x, and that is good enough also but anyone's guess is as good as nipples on a bull. What you need to do is to look at which layer 1 protocols are pumping and buy into the protocols in their ecosystem. Figure out how to use Metamask so you can connect to Dexes and allow yourself to buy these tokens (after doing some DD, always buy good projects) before they're listed on centralised exchanges i.e binance, Coinbase, FTX etc. You'll also be surprised to see the far better 'interest rates' staking on the Dexs compared to Cexs. Moral of the story, if someone is telling you to buy something on here then it's probably too late. DYDR and you'll have a much better chance of finding that 100x token. [link] [comments]  | ||
| Are you taking profit in light of recent pumps ? Posted: 17 Oct 2021 01:44 AM PDT As we are withing touching distance of a new ATH, is it time to sell and take some profits incase we suffer another crash ? If so what's your strategy and what are you selling ? Do you intend to take it out or just keep it in the tank for the next crash ? Personally i am going to start trading a small amount of my stake/LP gains from osmosis and put it into stable coins so i have something in the bag ready for the next big dip. After that should we see a significant pump( in ADA specifically ) i will look to sell some and take a bit of profit out [link] [comments]  | ||
| We are at the bottom of next bear market! Posted: 16 Oct 2021 07:15 PM PDT So if we are in double pump cycle this time, which seems very likely, it is possible that we are going to see great gains in coming months. And in case we are not in a super cycle, like some people are saying we are, I was wondering that after topping in this cycle where will be the bottom in the next bear market. Here is a very interesting indicator. So in the previous cycles, if you chart an area from the high of the previous cycle to low of the following bear market, there is an area between Fibonacci level 1.618 and 1.486. This range has always acted as the bottom of bear market in the next cycle. For example if you chart the high of $1156 attained by bitcoin in 2013 cycle to the next bear market low, you get Fibonacci 1.618 at around $ 4207 and Fibonacci 1.486 at around $3242 and that was the bottom for bear market cycle of 2017. The similar is true for 2013 cycle is you chart the same area from the high and lows in 2011. So now if we chart a Fibonacci area from 2017 high of around $20000 to the low of next bear market of around $3000, we get the range between $61000 to $47000. If that plays out exactly this time as well than we are probably at the bottom of next bear market. Obvious history doesn't repeat itself but offten resonates so consider this data as well in your portfolio planning I hope it helps someone out there. (Happy investing) Edit:- This post is to just give people some perspective. Like when we are topped out and start falling rapidly, no newbies should sell all their bags thinking crypto is going to zero. [link] [comments]  | ||
| Thanks to Crypto I’ve been able to afford life changing medication! Posted: 16 Oct 2021 08:50 PM PDT I wanted to quickly share a little happy story from the past year. Ever since getting into cryptocurrency, I've been able to set aside some extra funds for certain things after reaching and then blowing past my goal. I've had some big health issues over the last few years… Long story short, because of the funds that I've been able to set aside, I've been able to afford a certain medication which brings me so much symptom relief. As a matter of fact, I'd even go to say that it's life changing, now that my typical day has improved 10 fold. I've also been able to afford higher end medical products which has made life much easier as well. I'm sure anyone with an ostomy can agree that knowing you'll never run out of much needed supplies brings a lot of stress relief!! I'm so thankful I discovered crypto when I did. It's opened so many doors in my life! [link] [comments]  | ||
| “We are not interested in adopting Bitcoin as a currency,” says Mexico’s president Posted: 16 Oct 2021 05:50 PM PDT
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| YSK about these common crypto scams Posted: 17 Oct 2021 03:35 AM PDT Hi everyone, especially newbies, welcome aboard! This is the wild west of crypto where so many things are out to get you. But fret not, knowledge is power, and being aware can help you stay away from scams. When I started out in this space, I had to learn about some of these scams the hard way, so I'm hoping this post will help some of you newbies as well. So here's my list of 8 most common crypto scams you should be wary of! 1. The Dusting Attack This is a scam where you will receive very tiny amounts of crypto, also known as dust, to a lot of addresses. The criminals will watch these wallets that thye've sent the dust to, to see if they can de-anonymize the wallet owner. Once they've identified the owner, they can set up more elegant phishing attempts to sweep the funds from the owner's wallets. Or, they may even physically target the owner to get them to give up the keys. Best way to protect yourself from this would be to leave the dust where it is. Do not touch it, do not interact with it in any way. And most of all, don't bother trying to sell it. 2. The Clipboard Malware This one is where your device has been infected with a malware that changes the address that you have copied and pasted from your clipboard. The malware can swap the addresses to the hacker's own address, or to a random string of characters. When that transaction goes through, you'd have lost that crypto to the hacker or just poof, thin air. To avoid this scam, make sure that your device is clean, and not infected with any kind of virus. Keep your antivirus software up to date. When you copy and paste your addresses, double, no triple check to make sure you're sending it to the right address. 3. The Hot Lady in Your DM Gentlemen, this scam is the one that targets your primal brain. A very attractive woman often dressed scantily with big boobs (sorry) may show up in your DMs asking you about crypto and try to chat you up. This eventually leads to "her" manipulating you into giving up your 12 word phrases or passwords. They may try to initiate exchange of nudes for crypto. They may even have a sob story and make you feel bad into sending her crypto. Best way to not fall for this, is to always remember that "if a hot lady DMs you about crypto, ignore him". Another variation of this is the "send me crypto I'll double it for you." or the "Investor" who thinks you're so special and wants to help you. There is no free lunch in this world. Nobody here is looking out for others by giving you free crypto (except moons of course). Personally, I avoid talking to anyone via DMs on here. 4. The "Helpful" Support Team in Your DM This one is where a support team "member" from the project DMs you via Telegram or reddit to help you validate your wallet. This is an attempt to get you to divulge your private keys, or they'll link you to a phishing site that looks legit to get you to key in your 12 word phrase. It is very common to get some attention from scammers in your DMs when you've just posted a question on a subreddit or telegram group. If you got to this point, compliment OP. I'll give you a moon. Ok let's carry on. To protect yourself, remember not to entertain any kind of DMs from anyone. Do not click on any links, and most importantly do not give anyone your private keys. 5. The Rugpull Rugpulls happen all the time, and even billionaires have fallen victim to them. This is a scam where the developers of the smart contract, or the project drain the funds from the liquidity pool. This is especially common in De-Fi, and have been on the rise as well. The best way to not fall victim to it, is to make sure you invest in projects that have fully doxxed and trusted developers & have trusted smart contracts. Of course, not everyone's gonna go through the code to make sure that the code is clean. There are third party companies that do contract auditing, such as Certik. This is where DYOR comes in. Personally I would avoid Binance Smart Chain projects altogether, cuz that's where i've experienced many rugpulls. 6. The Honeypot This is a very common scam that I've experienced quite a few times in Binance Smart Chain "projects". The scam is very simple. The contract is written in a way where you can buy the token, but selling will be impossible. So if you're watching the charts, and you've thrown money in there, you'll see the value rising. However, when you're ready to sell, you'll notice that you won't be able to. The best way to avoid such a scam is just to watch the transactions on BSCscanner, to make sure that buy and sell transactions are going through to unique addresses. 7. The Attack of the Clones Another kind of phishing attack, where you might get an seemingly legit looking email from an exchange, with a link contained within the email, or clicking on links from untrusted sources. These links may lead to websites that look like the carbon copy of the original website. There might be a security notification telling you to key in your seed phrase. When you do key it in, the hackers will own your crypto, and can simply sweep your wallet clean. To avoid this, you should double check the url of the site you're using, as they often look dodgy, with a .org or a .net extension. For instance you may click on a link that takes you to "pomhub.com" instead of the actual site. To protect yourself, bookmark the actual links to the exchanges, instead of clicking random links. 8. Pump and Dump There are many telegram groups that organize planned pumps and dumps, hoping that others will FOMO in and buy in. Once the price has pumped, the people who are in on it will dump their positions, causing significant loss to the ones who had FOMO'd in. Often times, the owners of the project may be in on it, and may even pay influencers to shill the project. When the coin has pumped enough, they will just dump their positions and pocket the profits. To avoid this, just don't FOMO into projects. Don't listen to some influencer with 1 hit song back in 2013 to make financial decisions. So that's all I have for now, maybe when I have more to think of, I might do a Part 2! Hope you all stay safe and enjoy them greens! [link] [comments]  |
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