Cryptocurrency Moon Week 18 - New Governance Polls, the Latest Distribution Proposal, and the State of the Subreddit |
- Moon Week 18 - New Governance Polls, the Latest Distribution Proposal, and the State of the Subreddit
- Daily Discussion - October 1, 2021 (GMT+0)
- Nebraska Governor Gives the middle finger to the IRS: Says transactions as low as $600 won't be Monitored in his State.
- A Bitcoin whale just bought 47 cents of Bitcoin.
- El Salvador President Nayib Bukele shares first ever Bitcoin mined using volcano geothermal energy (0.01 BTC)
- Buying/holding Crypto is a big F*ck you to China
- I spent hours on "shitcoins" subreddits and their community platforms and wrote down what all of them have in common
- Here we go again
- President Bukele: People in El Salvador Now Pay $0,20 Less Per Gallon of Fuel when Paying with Bitcoin
- Robinhood’s Popularity Is Fading Away With Meme Stock Fad ��
- The Cryptocurrency Scambook
- Where did all the Solana supporters go?
- About $90 million has mistakenly gone out to users of popular DeFi staking protocol Compound and the founder is begging users to voluntary return the tokens.
- Powell Says Fed Has 'No Intention' to Ban Cryptocurrencies
- The Weekly DYOR Session Edition 3: Every week I am going to choose one Coin and do a DYOR so you don't have to - This weeks DYOR is ALGO
- MATIC is the most undervalued project considering it’s performance
- US Congressman Suggests That Crypto Should Be New Gold Standard
- My bank just paid me end of the month dividends!!
- Out of 3.5m users on this subreddit only, 114k have opened up a vault to gain Moons - Thats only 3.25%
- I'm doing a Beginner Day Trading vs Hodling experiment so you don't have to.
- You don't need to be smart to be a whale.
- China Pulls Out the Big Guns to Avert Evergrande-Fuelled Disaster
- JPMorgan's CEO now Implies Bitcoin Can Hit $400k In 5 Years, after Calling it a Scam 3 Years ago
- Ethereum’s Triple Halving is happening as circulating supply plunges
- The U.S. Will Not Mirror China’s Ban On Cryptocurrencies, Fed Chair Powell Tells Congress
- One of the largest French bank Societe Generale has applied for a loan in DAI from the MakerDAO protocol.
- El Salvador Has Officially Started Mining Bitcoin With Volcanos
| Posted: 30 Sep 2021 08:51 AM PDT Hello everyone and welcome to Moon Week for round 18 of Moons! Moon Week began yesterday with the snapshot post by the admins. Check out the post and comments to see how many moons you'll be getting next Wednesday at the end of Moon Week. To give exposure to our governance polls for the month, this Moon Week post will remain pinned to the top of the subreddit until the distribution post next Wednesday. Please review the following important information and frequently asked questions first. Each month we have dozens of questions about these things even though they are answered right here:
Here are your polls for round 18 of Moons:
For more information about Moons, please see our wiki page here. Happy voting! [link] [comments]  | ||
| Daily Discussion - October 1, 2021 (GMT+0) Posted: 30 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: 30 Sep 2021 07:21 PM PDT
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| A Bitcoin whale just bought 47 cents of Bitcoin. Posted: 30 Sep 2021 08:07 AM PDT You can check his wallet here. The whale currently has 112,764.59 BTC and just bought 47 cents more today. This is extemely bullish, because if a billionaire thinks it's worth his time to buy 47 cents of BTC, he must be thinking we can go to 1 million per Bitcoin soon, to make it worth his time. So if you can afford it, I would recommend to also buy at least 47 cents of Bitcoin, because it seems like he knows what he's doing. (In the past week he bought about 500 BTC by the way). But on a serious note, it's usually a good sign to see whales buying, because they make the price go up and down for the most part. Hoping for at least a new ATH by the end of the year, I think that should be doable. Ps. This is not financial advice, if you lose your 47 cents, don't sue me [link] [comments]  | ||
| Posted: 01 Oct 2021 12:53 AM PDT | ||
| Buying/holding Crypto is a big F*ck you to China Posted: 30 Sep 2021 08:45 PM PDT Buying/holding Crypto is a big F*ck you to China. One day in the future, China will have their Communist Coin, and it will blow up like crazy since their people will be forced to use it. The only way to fight Communist Coin is by continuing to support Capitalist Coins by choosing to invest in projects that you think will lead to the innovation in the free world. We all know Defi is the next Internet innovation, and we know that many entities have been established to compete in the trailblazing path to utilize Blockchain technology in ways that will revolutionize our lives. If we only invest for short term profits, its easy for players like China to out-innovate us. They have vast resources and lots of brilliant minds in their tech space as well. Although we aren't forced to use a certain cryptocurrency, we as free democratic countrymen can choose to DCA into projects we believe in, and the flow of money will pump our blockchain infrastructure full of steroids. Thus, holding and supporting crypto is a big f*ck you to China. [link] [comments]  | ||
| Posted: 30 Sep 2021 02:32 PM PDT After spending hours on their community platforms this is my conclusion:
Don't let the early returns fool you. Trading shitcoins is as risky as it gets. Nobody here likes shitcoins. The people who love them are the ones that will buy the coin as soon as it launches and get out as soon as they can. People who are telling you to HODL are probably the ones that are too deep in it to sell at loss. They want you to stay so they can get out. Holding shitcoin for a long term will most likely result in a loss of money - Losing money made me wiser, take this seriously even if I am not your financial advisor. [link] [comments]  | ||
| Posted: 01 Oct 2021 03:47 AM PDT
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| Posted: 30 Sep 2021 06:02 PM PDT
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| Robinhood’s Popularity Is Fading Away With Meme Stock Fad �� Posted: 30 Sep 2021 07:54 PM PDT
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| Posted: 30 Sep 2021 11:44 PM PDT TL:DR : All you need to know different types scams in Cryptocurrency space,how do they work, how to protect yourselfWhile bitcoin and cryptocurrencies sure have their advantages, unfortunately, just like with any other technology, there will also always be some downsides. The cryptocurrency space is infested with scams simply due to the pseudo-anonymous nature of bitcoin and cryptocurrencies, allowing scammers to get away with huge heists with potentially little to no trace if they know what they're doing. The best way to not get caught up by these scams is to simply educate yourself and be extremely cautious in everything you see online in general. Listed and described below are most of the common scams that are currently being used in the cryptocurrency space : Phishing ScamsOne of the most effective scams until today; not only in the cryptocurrency space but on the world wide web in general. A phishing scam is an attempt to steal account login information, credit/debit card information, your bitcoin or crypto wallet's recovery phrase, or whatever valuable information that a bad actor can take advantage of, mostly through fake clone websites and software. How the scam worksOne simple way of scammers spreading phishing sites is through the Google ads platform. You do a simple Google search query, typing up "Binance", and if you don't use an ad blocker, there's a decent chance that the top search result would be an advertisement. For example : You search for 'Binance' in Google and first result you see is "www.binance.com/", when you actually click on the link and take look at your browser's address bar, there's a decent chance that the site you've just opened is going to be something like "binancel.com", "binancesite.co", or something else that isn't the legitimate "binance.com". Some of these methods are so tricky, as they use domains like "biṇaṇce.com". You might not have noticed it immediately, but it's actually an 'ṇ', a Latin character. Google ads is just one way of spreading phishing sites and software though. Other ways and methods of them spreading phishing sites and software include: -Social media: scammers could create fake accounts Facebook, Twitter, Instagram, or other social media sites and communities in general, masquerading as certain companies(Ledger, Coinbase, Trezor, etc). -Hacked YouTube accounts: scammers have been hacking YouTube accounts with a decent number of subscribers and change the YouTube channel name to a certain company. They would then say that they're conducting a "crypto giveaway" or something similar while posting a video(live or not) with a link to a phishing site or to a download link of fraudulent software. -Fake customer support : this is mostly happening on Reddit and Twitter, but it could happen on all social media sites. Scammers would target people who had made a post concerning issue(s) with certain services(Binance, Ledger Nano S/X hardware wallet, etc) by messaging them and sending them a link to a phishing site or to a download link of fraudulent software. Always keep your eyes peeled. Some hackers and scammers are extremely smart, and they can create other more convincing ways to trick people into opening their phishing links. It's heavily recommended for people to always check their browser's address bar if they're actually on the legitimate website. Fraudulent mobile appsPretty much the same with phishing sites, but in the form of apps. Especially on the Google PlayStore for Android devices, there are A LOT of fraudulent mobile apps made to steal your funds. Mostly faked apps include:Coinbase MyEtherWallet (MEW) Ledger Live Electrum etc How to protect yourself-always do a double or triple check on your browser's address bar to confirm that you're actually on the legitimate website. -install a well-known and reputable adblocker like uBlock Origin your browser, or use the Bravw browser instead. -Prevent from clicking on ads. -Make sure that you're downloading the legitimate apps. Twitter Giveaway and "doubling" ScamsFortunately, Twitter giveaway scams have died down a bit, though they could still appear on Twitter once in a while. Twitter giveaway scams are pretty straightforward. The scammer makes a fake Twitter account masquerading as a famous person(mostly people in the tech industry). The scammer would then reply to the legitimate person's tweet, For example : Elon Musk's legitimate Twitter handle is @elonmusk whereas the scammer is using the Twitter username @elonmusk___. @elon_musk etc. And tweets as a reply to tweet from Elon's official account and say something along the lines, "I am donating 10BTC or 10000 ADA.First 10 transactions with 0.5 BTC or 1000 ADA sent to the mentioned address in this tweet will receive 1 BTC and 2000 ADA in the address the 0.5 BTC or 1000 ADA came from" While this scam should be pretty obvious, but unfortunately, some people still fall for it. NOTE: While such scams mostly take place on Twitter, it can take place in any other social media site or website in general. How the scam works-You see a famous(fake) persona posting on social media on how you can multiply or double your coins. -You send the coins to the provided address. -The scammer simply runs away with your coins. How to protect yourself-Don't be delusional. If something's too good to be true, it probably is. Investment Scams & Ponzi SchemesInvestment scams have existed pretty much even before the birth of the internet and the world wide web. Investment scams and Ponzi schemes mostly have well-designed websites that claim to give you a 10% profit daily from your initial deposit or something along those lines. They ask you to deposit a certain amount of money(or crypto, in this case), and promise a certain amount in return daily, weekly, or monthly. Some investment scams allow you to withdraw your profit for a while, in the hopes of you depositing more money, then they simply lock up your account after a while. Losing your access to your funds. Common types of Investment and ponzi schemesFraudulent Trading BotsThe victim is asked to "invest" in a trading bot, claiming that the trading bot can make the victim a certain amount of money in a certain time span. Usually something enticing but unrealistic like 50% in 3 days or something similar. Cloud Mining ScamsSimilar to fraudulent trading bots whereas the victim is asked to deposit a certain amount of money for "cloud mining", again, mostly with unrealistic promises of profit. Bitcoin & Cryptocurrency Investment ScamsAgain similar to the previous two, whereas the scammer asks for a certain deposit, with unrealistic promises of profit. This scam is mostly used for people who have little to no idea and are totally clueless on what Bitcoin and cryptocurrencies are, and how they actually work. How the scam works:-You see an advertisement on Google and or social media about a trading bot, investment site, or cloud mining site, whereas the website claims that they can multiply your money in a short timespan. -You create an account, and deposit some money. -The scam website will then try to get more money off you by convincing you to deposit more money. -The scammer runs away with your money. How to protect yourself-Don't be delusional. If something's too good to be true, it probably is. -If you want to invest in bitcoin or other cryptocurrencies, simply buy them off reputable exchanges. -If you want to mine bitcoin and cryptocurrencies, buy the mining hardware yourself. *Some famous crypto-related ponzi scams in the past BitConnect DavorCoin HashOcean Pump And Dump SchemesPump and dump schemes are pretty easy to spot, as pump and dump group leaders usually advertise them as "trading signal groups", or sometimes even straight-off shamelessly advertise them as "pump groups". The scheme is pretty straightforward: The group leader asks his/her members to buy a certain coin/token that is quite low in market cap to make the price far easier to manipulate, claiming that it will rise or "pump" in price. The thing is, before the group leader announces which coin/token to buy, the leader already bought a significant amount of that certain coin/token, so the leader can sell them at a significantly higher price. The price of that coin/token does then increase because of the group members buying loads of the specific coin/token, while the leader is selling at higher prices; earning the group leader significant amounts of profit, sometimes even as high as 10x. How the scam works-You see a "trading signals" group being advertised on social media or on some forums. -You join the group, mostly being on Telegram. -The group owner buys an amount of a certain cryptocurrency and tells the whole group to buy it. Claiming that it will rise in price. -The price does increase due to the people on the group buying the coin. -At some point, the group owner sells or "dumps" everything, making huge amounts of profit while immediately dropping the price. How to protect yourself-Don't join pump and dump groups masquerading as "trading groups". -Do your own research Scam ICOsInitial Coin Offerings or ICOs are quite similar to crowdfunding whereas the company/team accepts BTC/ETH from the people in exchange for a certain amount of their coins/tokens, depending on how much you sent them. ICOs aren't really scams as some are definitely legitimate, but a big percentage of ICOs are indeed either scams, or are bound to fail. Unfortunately, some well-made ICO scams are quite hard to detect as a scammer could create a legitimate well-thought project and simply just not deliver the product and run away with the money. Though some characteristics could be enough proof for you to stay away from certain ICOs. How the scam works-You see an advertisement for a cryptocurrency ICO on social media or on some forums. -The cryptocurrency's team makes some outrageous claims like "bitcoin killer", "ethereum killer" or that the whole world will be using that certain cryptocurrency. -You invest your money onto the ICO. -The project team fails to accomplish their promises. -The coin's price slowly goes down in the long term, effectively losing your money, most of the time more than -95%. How to protect yourself-Do your own research. -Be very wary of ICOs. Gambling/Exchange Site Deposit ScamsThis scam usually takes place by someone asking the victim to use a certain gambling site, and them saying that they gave the victim some free bitcoin to start playing/gambling with. If the victim attempts to withdraw the funds, the website then asks the victim to deposit a certain amount of bitcoin, claiming that deposit to be for the "withdrawal fees"; but in fact, the victim is sending the bitcoin to the hacker's bitcoin wallet. After the victim made a deposit, the scammer then runs away with the deposited bitcoin. This scam usually is being attempted via private messages on forums and some social media sites. If someone on social media messages you that's describing a similar scheme, take a few seconds and report the account to hopefully prevent other people from getting scammed. How the scam works-A scammer messages you on forums or on social media. -The scammer says that he/she is giving you some money through this exchange site. -The scammer asks you to register to the scam exchange. -The scammer tells you that he/she has given you some coins on your account(mostly .5 BTC to sometimes up to 5 BTC to be more enticing). -To be able to withdraw the funds, the scam exchange would then require you to deposit some bitcoin for the withdrawal fee, whereas the coins being demanded are mostly worth a decent amount of money (0.01+ BTC). -After you deposit the BTC for the "withdrawal fee", the scammer simply runs away with your money. How to protect yourselfIgnore such messages. Airdrop ScamsA very common misunderstanding when taking part in cryptocurrency airdrops is that you have nothing to lose. Where in fact, most of the time, you actually do have something to lose. Private keysSome scam airdrops take advantage of some people's ignorance on how wallets work, by telling them to hand over their wallet's private keys, effectively giving access of their funds to the scammers. Email AccountsThe most common thing that an airdrop(scam or not) asks for. For the more unethical scams though, they collect their participants emails, and either send them spam, or sell the emails they collected to other companies. Personal DocumentsSome airdrops require the submission of personal identification documents like photos of your driver's license, passport, birth certificate, etc. While some legitimate airdrops require the submission of these documents for legitimate reasons like to prevent the abuse by claiming airdrops using multiple emails, most of the airdrops collect personal documents to either sell them or to commit identity theft. How the scam worksYou see an advertisement on social media or some forums about a cryptocurrency airdrop. You sign up for the airdrop, and submit your personal documents. The website owner then sells all the personal information and documents they collected. Your identity could then already be used for criminal activities. How to protect yourselfDon't submit personal details, documents, or your wallet's private keys to airdrop websites. Fake Mining Hardware SitesDue to the hype of bitcoin and cryptocurrencies, bitcoin mining is also being a hot topic from time to time. Scammers take advantage of this hype by scamming people online who are trying to buy Application-specific integrated circuit(ASIC) miners from manufacturers like Bitmain. The scammer simply creates a fake website, lists some ASIC miners like Bitmain's famous Antminer, and accepts bitcoin payments as bitcoin payments are non-reversible. The scammer simply takes the money and doesn't ship anything to the buyer, effectively stealing the buyer's money. Scammers mostly spread their fake mining hardware websites through: Google ads Google search results Social Media etc How the scam works-You search for a website to buy mining hardware. -You come across a shady website claiming to sell mining hardware. -You order one or a few, and you pay using bitcoin. -The website owner runs away with your coins. How to protect yourself-If you're planning on buying ASIC miners, it's heavily preferred to buy from the main source Fraudulent Paper Wallet GeneratorsA paper wallet is a type of bitcoin and cryptocurrency wallet that you generate through an open-source html page, and simply print out on a piece of paper. The way scammers take advantage of this, is that they create they own version of a paper wallet generator, whereas they have access to every single paper wallet that you generate through their website. They simply wait for a bitcoin deposit to the paper wallet's address, and they either simply steal the money immediately, or sometimes they wait till the paper wallet holds a significant amount of bitcoin before they steal it. Though we're against using paper wallets in general due to the level of difficulty in creating an actual secure paper wallet, stick to the legitimate ones like bitaddress.org Hardware Wallet ScamsA common misconception with hardware wallets is that when you're using a hardware wallet, it's going to be next to impossible for your funds to get stolen. But in fact, while reputable hardware wallets are secure, there are still some ways that scammers can steal your funds. Fake Hardware Wallet SoftwareHackers and scammers create almost exact duplicates of existing hardware wallet software like Ledger Live, and create their own methods in attempting to steal their victim's funds. The most common way being asking their victims to enter in their wallet's 24 word mnemonic phrase, effectively gaining total access to their victim's money. Tampered Hardware Wallet PackagesWhile there is currently no proof of someone managing to successfully tamper with a Ledger hardware wallet, hackers and scammers can take advantage of someone's lack of knowledge in how wallets work. Sometimes the wallet buyer instead of generating his own set of 24 word mnemonic phrase on the hardware wallet itself, he/she followed the fraudulent instructions of the scammer. Whereas the scammer included a pre-generated list of 24-words, a wallet that the scammer has access to. QR Code Generator ScamsIt's safe to assume that some people prefer using QR Codes rather than wallet addresses simply due to the fact that it's quicker to do a QR Code scan using a mobile phone. Due to this, some people resort to using "QR Code Generators" or "converters" to convert a wallet address to a usable QR Code. How the scam works-The victim opens the fraudulent bitcoin address to QR code converter. -The victim enters his/her wallet address. -Instead of giving the victim the QR code of the wallet address he/she entered, the scammer instead displays a QR code of a different wallet address which the scammer owns -The victim then unintentionally sends funds to the scammer thinking that he/she's sending the funds to his/her own wallet. How to protect yourselfAlways double-check if the service you're using is actually giving you the correct and legitimate QR code. Fraudulent Bitcoin ForksTo put it simply, Bitcoin forks are different versions of Bitcoin; the most famous being Bitcoin Cash(BCH). And while the original Bitcoin(BTC) is what really matters, people can sell their forked bitcoin to potentially increase their Bitcoin(BTC) holdings. To be able to claim Bitcoin forks though, you'd need to enter your Bitcoin(BTC) wallet's private keys to the Bitcoin fork's wallet. And while there are legitimate Bitcoin fork wallets out there, there are also a lot of fraudulent ones. How the scam works-You've learned about a recent Bitcoin fork, and you're planning on claiming the airdrop for you to be able to sell them. -You download the Bitcoin fork's software, and you enter in your recovery phrase. -The fraudulent Bitcoin fork then gains access to your wallet and takes away your coins. How to protect yourselfMake sure the software your using is actually safe, or don't collect bitcoin forks at all as it's mostly not worth the risk. Ransomware AttacksRansomware is a type of malware that once your device gets infected, the malware locks up your device's operating system, rendering it unusable. The malware then demands a certain amount of bitcoin or other cryptocurrencies for your device to be usable again. If your device has been infected with ransomware, all you need to do is to do a fresh install your operating system and you'll be good to go. Unfortunately, losing all your files and data in the process. How to protect yourselfAlways think twice when opening websites and downloading software Clipboard hijacking attacksA clipboard hijacking attack is when a hacker gains access to your device's clipboard, allowing the hacker to replace your clipboard with whatever the hacker wants. While this is more of a "hack" than a "scam", a hacker could get the malware to be installed on your device through various methods that scammers use. How the scam works-You download and install the malware through a fraudulent website -The malware then waits till you copy a bitcoin address to your clipboard -Once you copy a bitcoin address to the clipboard, the malware then replaces the Bitcoin address that you copied with the hacker's bitcoin address -You then paste the supposed address that you copied(which is now the hacker's address) -You send the funds without double-checking the address -The hacker now has your bitcoin How to protect yourself-Always think twice when opening websites and downloading software -Always double-check the address your sending your coins to Chargeback scamsA chargeback scam is a way for scammers to purchase bitcoin or cryptocurrencies(or other stuff online), pay for the purchase, and get their money back in the end. This scam is mostly done using PayPal, as people can claim that a certain transaction wasn't made by them, and there's a good chance that PayPal will reverse that transaction. How the scam works-You plan on selling some bitcoin or cryptocurrencies to person X -Person X sends you the money -You receive the money, and you send over the coins -Once person X receives the coins with ample transaction confirmations, person X then attempts a chargeback to get his/her money back How to protect yourself-Only trade with reputable people -As much as possible, prevent from accepting PayPal for payments Testnet scamsA "testnet", regardless if it's for Bitcoin or any other cryptocurrency, is an alternative blockchain, specifically to be used for testing purposes. Since testnets use a different blockchain as the original blockchain of a specific cryptocurrency, coins from the original blockchain can't be sent to the testnet version and vice versa. Hence, obviously, testnet coins can't be used to pay for merchant payments, and such since testnet coins are pretty much worthless. Mostly done using bitcoin testnet coins, unfortunately, scammers take advantage of people who don't know what testnet coins are(regardless of how obvious it is due to the name "test-net"), and sell them these coins as if they're actual "real" coins. How the scam works-Someone offers you to buy some bitcoin, sometimes for a discount -You agree with the price and the amount -The scammer then convinces you to download a testnet wallet -The scammer sends you the coins, you then pay the money Source : Google, Wikipedia,Bitcoin forum. [link] [comments]  | ||
| Where did all the Solana supporters go? Posted: 30 Sep 2021 07:36 PM PDT Feel as though the support fell off a cliff went from about a hundred to zero. Funny how quickly people lose interest. Also how fast this subreddits sentiment changes one moment you are getting downvoted about trying to point out the problems with Solana then the next you are being upvoted. Just goes to show most people have no idea what they are doing and will just bandwagon with the current popular sentiment. Also how far people on this subreddit will go to protect their precious coins that can never be criticised. I had multiple Solana lovers follow my comments downvoting them or replying to the comments with me stating the fact that Solana has gone down in the past before and it's only a matter of time again. Even after the recent outage it had they would follow me saying I was spreading misinformation about it going down in the past even though I was citing sources from Solana themselves. But at that point the subreddit sentiment had begun to change and they were being downvoted now and their precious egos couldn't handle it and they deleted all their comments. A lot of people on this subreddit treat their investments like sports teams and they cannot handle any criticisms to their coins. Hence why you shouldn't listen to what is trending here, any criticism will be downvoted and only the positives will be upvoted. Always do your own research. [link] [comments]  | ||
| Posted: 01 Oct 2021 02:48 AM PDT
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| Powell Says Fed Has 'No Intention' to Ban Cryptocurrencies Posted: 30 Sep 2021 09:13 AM PDT
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| Posted: 01 Oct 2021 12:26 AM PDT Earlier this week we have covered TEZOS For this edition I am going to cover ALGO, as this was the most upvoted suggestion. Good news is that I managed to get some spare time and therefore the third Edition of DYOR came earlier, I hope this will be a nice surprise for the ones that started to follow and support these editions, and I want to use this opportunity and thank everybody for the support! I will try to make each new post a better experience for everyone! Now lets deep dive into ALGORAND aka ALGO: ALGO – THE BASICSOnce again, we start with the basic and with a simple question. What is Algorand? Algorand went to mainnet in June 2019, and it's a decentralized blockchain based network that can support a wide range of different applications. Algorand is using smart contracts and their main goal since the beginning was to make payments fast and efficient with low fees and with a minimal impact on the environment in terms of energy usage. You can already sense that the main point behind Algorand is to tackle the challenge of Bitcoins high energy consumption and the ridiculous fees from Ethereum. Algo is shifting its focus to provide scalability but also to tackle the famous "Blockchain trilemma" - security, scalability, and decentralization Sounds pretty ambitious isn't? The first thing that you will notice, once entering their website is the following headline: "Welcome to the Future of Finance" or simply FutureFi There is a text just below trying to express their entire purpose of converging decentralized and traditional financial models. They are also emphasizing on the idea of a green future, meaning that they are targeting the audience that are concerned about the energy consumption in the cryptocurrency industry. This is visible on their website where you can discover the "Carbon Negative since 2021" logo which is something that I didn't notice with other bigger projects. What I like about the website is that they are offering a lot of information about the technology and use cases, and it's a great place to discover more about the Algorand in general. SILVIO MICALI – THE FOUNDERI have to admit, you will almost never see any news, or posts and comments on reddit mentioning about Algo without mentioning Silvio Micali! Usually, you will just hear about what a genius Silvio is, but rarely you can find comments giving other newcomers some insights why Silvio is so important. Therefore, lets start with a mini biography about Silvio, and why he is the biggest star of Algo and its biggest and most important trademark. Silvio Micali was born in Palermo, Italy, in 1954 and from a very young age he was interested in mathematics resulting in a mathematics degree from Sapienza University in 1978. He has received his PhD in 1982 at the University of California, Berkeley and short after joined the faculty at MIT in 1983. Silvio was one of the key contributors in the field of Cryptography and his way of teaching and thinking is considered as non-conventional. Why? Well, he is using a totally different approach, as you will often see cartoons on his lectures as he is trying to make his teachings enjoyable and entertaining. If you want to check one of them, I would highly recommend one of his LECTURES Ultimately his way of teaching has changed our understanding of some important notions such as randomness, secrets, proof, knowledge, collusion and privacy. Micali contributed a lot to the scientific community with his work on public-key cryptosystems, digital signatures, secure multiparty computation and is one of the inventors of zero-knowledge proofs . The biggest recognition for his work came with the collaboration with Shafi Goldwasser and the paper "Probabilistic Encryption". The interesting bit is that this paper was written while he and Goldwasser were graduate students and it's considered as the most influential paper in the history of computer science. With this paper they helped to make cryptography a precise science. His collaboration with Shafi resulted in a Turing award in 2012. There is a lot of things to explore, as Silvio is one of the most important figures in this field, and I highly recommend exploring and reading more of his work, I am sure that I will dive deep into these in the upcoming days. In 2017, Silvio founded Algorand when he realized the opportunity to fulfill the promise of blockchain in our global society. His ambition is to solve the blockchain trilemma of achieving speed, security, and decentralization simultaneously. It is important to mention that Algorand is not just Silvio, there are some very clever and capable team members working on this project such as: Steve Kokinos – He is currently the CEO of Algorand Inc. and was the co-founder of Fuze. W. Sean Ford – He is the COO and prior to that worked as the Chief Marketing Officer in LogMeIn ECOSYSTEMAs mentioned in the basics, Algorand is a decentralized platform and its using Smart Contracts…but one of the key highlights that Silvio is taking on is the famous "blockchain trilemma", how does Algo solve that? The best way to explain it is to quote Silvio on this: The traditional application of cryptography to blockchain is to prevent an adversary from altering the content of a block or the order of blocks. But in Algorand we use it for doing what we call a cryptographic sortition: we select an unpredictable committee (to add blocks to the network) whose members are not known until they show up with a proof that they belong to the committee. That is really the secret sauce of Algorand, which allows us to be very scalable and very distributed. In some sense, this is a use of cryptography because even though I am running my own lottery (forming the committee members), I cannot cheat. I cannot alter the probability of winning. And if I win, I can prove to you that I'm a legitimate winner of my own lottery. It is really a new application for cryptography that allows us to unpredictably convene a committee. You cannot somehow control the committee members or know in advance who they are going to be. As you may know, many blockchains propose the blocks by way of a round-robin: participants take turns, and an adversary knows in advance who is going to generate the next block and could perhaps attack. But if the generation of a new block is entrusted to a few committee members, say a few hundred or a thousand, and nobody knows who they are because they are the winners of secret individual lotteries, an adversary cannot go after them in advance. Once these people show up and say, "I won the lottery," you can believe they are the real winners because nobody can alter the probability of winning or pretend to have won when they have actually lost. So Algo is solving this dilemma with randomness, basically focusing on validators who are adding new blocks by picking them in a random order. This is called PPoS or Pure Proof of Stake and we have to add that one of the key features of Algo is that its forkless. ROADMAPThis week Algorand announced a brand new upgrade called Algorand Virtual Machine (AVM). This upgrade allows the development of complex smart contract applications in the DeFi, NFT marketplace, web3 etc. This is enabling a new level of scalability and operates at over 1,000 Transactions per second and are final in under 5 seconds on a platform to blockchain. Now this is very important as Algo has some serious competition under this category with a lot of other projects offering fast and cheap transactions on their platform. The one thing that a lot of Algo enthusiasts are looking at until end of this year is GOVERNANCE. Governance will allow all participants of the network to influence monetary, technical and be a part of the decision making process around the Algorand ecosystem. This will enable everyone to shape the future of Algo going forward, it is in a way a similar concept as with Tezos that we have covered in our last edition. The additional benefits are: - Participation awards – a designed fund just for rewards - Research and Innovation funds - Algo Grant Program - Research and Social Good Program - Contingent Incentives Officially this started Today! These are indeed exciting news for all Algo enthusiasts. If you want more info about it, I found a great post about it so you can EXPLORE it. TOKENOMICSWell if start off with the tokenomics, Algo is not your "get rich fast" kind of token and its more considered as a long term investment. Why? Algo has an algorithm in place called "Accelerated Vesting" and it basically means that if Algo reached an new ATH in a 30-day Moving Average, new Algo is introduced faster into circulation, and circulation is something that caused some debates. Algo has a maximum supply of 10 billion coins and its currently sitting with a circulating supply of around 6.018 billion. The plan is to reach the max. supply by 2030, although this has been accelerated and there is a big chance that this will happen before 2030. This was one of the main concerns from investors and there is a plan to end with Accelerated Vesting by mid 2023. Algo is strongly focusing on participation awards and they are launching this starting October 2021. Now if you are keen to get rich fast with Algo then I would suggest looking somewhere else, but on the other hand this is in my opinion a great long term investment with some great upcoming upgrades and projects where you can collect various awards in the form of Algo tokens. USE CASES and PARTNERSHIPSThere is a lot of things going on in terms of Partnerships, even though many complain that there is a need for more adoption. I think that the development and engagement from the Algo team is heading in a good direction, and there are some really great use cases already present. I will name just some of them, but you can also explore more of them on their website: - VitalPass - the first blockchain-based system to track COVID-19 vaccination, launches in Colombia with plans to expand to several countries in Latin America - El Salvador – As they have signed a Cooperation Agreement with Koibanx to Develop the Government's Blockchain Infrastructure on Algorand - Circle - Algorand will be the first blockchain with a stablecoin implementation based on that framework that is Powered by USDC - Marshall Islands SOV - Algorand was selected to power the first national digital currency for SOV because it has the best functionality required to issue, manage, and distribute the SOV on a global level - MAPay – Providing healthcare payments for Bermuda - SIAE – announced that they will launch their NFT on Algo as they are one of the largest and oldest digital rights management companies in the world. It will be interesting to see how many more they will onboard in the next months, but one thing is sure the competition is fierce. CONCLUSIONAlgorand is here to stay, and this is a project that maybe still doesn't have the immediate potential to become a TOP 10 Marketcap candidate, but I am sure that they are staying right at the top of the list as there is a strong focus on the technology and development as its choosing a more scientific and studious approach for the future. Don't get me wrong, I think that this is a wonderful project, that has a brilliant founder, a great platform, and a lot of potential for growth. They are the first ones to solve the blockchain trilemma and they are not joking around! The upcoming governance will definitely attract a new patch of newcomers to the platform as Algo is offering pretty high staking awards with their wallet, especially if the Algo team increases the marketing efforts and additionally simplifies the entire customer onboarding and customer journey. They are a bit behind with more significant partnerships and use cases compared to some key competitors, and there is still some discussions regarding the tokenomics but I can see that this project will succeed in the long term outlook and shift their focus on a sustainable and bright future in the cryptospace. Its important to say that they are also tackling the problem of energy consumption and the Carbon Negative statement and image will help them to attract more and more new enthusiasts into this project. We will hear a lot about Algo in the future, and Silvio Micali is one of the most important figures that ever-entered cryptocurrency. I am excited to hear more about them as we go forward as this is one of the more interesting projects out there. That's it! I hope you have enjoyed the Edition 3! Feel free to comment and give your opinion about Algo and also suggest some improvements for future Editions. And now…lets move to Edition 4. Once again, the top rates comment suggesting a coin will be chosen for the next edition. [link] [comments]  | ||
| MATIC is the most undervalued project considering it’s performance Posted: 30 Sep 2021 02:53 PM PDT
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| US Congressman Suggests That Crypto Should Be New Gold Standard Posted: 01 Oct 2021 12:43 AM PDT
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| My bank just paid me end of the month dividends!! Posted: 30 Sep 2021 11:04 PM PDT And here everyone talks about how bad banks are and how they are just out to get our money etc etc Well my fellow redditors I am the recipient of $0.09 in dividends and all it cost me was $8 in monthly charges! The Banks can't be that bad if they are paying this much out right!?! I mean that's like almost 1/10th of a whole fiat dollar! I'm telling you guys out your faith in these guys! I paid $8 but got $.09 back that's practically free real estate in bank terms bois! Obviously I'm being sarcastic here…crypto is the new money and the way out of this ridiculous relationship we have with banks. Getting nothing for the money I keep in the bank while they make billions then they charge me for letting them use my money to make those billions…they should have known things were gonna change at some point and it will…soon… [link] [comments]  | ||
| Posted: 30 Sep 2021 10:18 AM PDT According to this source we currently have 114153 Moon Addresses. Each month Moons are getting distributed to the users based on their earned Karma. In order to farm Moons, you need to open up a Vault first. Just open a Vault here, it's simple, fast and free. ______________________________________________________________________________________________ The last post got deleted because it contained the current price of a Moon and price discussions about Moons are not allowed. [link] [comments]  | ||
| I'm doing a Beginner Day Trading vs Hodling experiment so you don't have to. Posted: 30 Sep 2021 10:16 PM PDT Who am I kidding, I'm only doing this to fuel my day trading addictions. But you can learn why you should not do it when you start out. When I started Crypto, I earned -50% day trading which I finally got back after hodling for a while.. But the addictions kick in, and we're back where we started, just a little bit wiser this time. My grey hair and bloodshot eyes are my experience certificates. Anyway, getting to the point, 30 day challenge for day trading vs Hodling. Yes I'll be staking. I choose October because it's bullish af according to historians. Add your remindme! 31 days to check back if you're interested?! Join me in the thrill of day trading and fuckin losing money just to satisfy our cravings but this time call it a challenge! Happy October everyone. Time to wake up from your September Slumber EDIT 50% of Day trading profit will be used for getting some moons and tipping y'all EDIT 2. THATS A LOT OF REMINDERS SET. NOW I NEED TO WORK UNDER PRESSURE [link] [comments]  | ||
| You don't need to be smart to be a whale. Posted: 01 Oct 2021 01:57 AM PDT If there is a post about "A Bitcoin whale just bought XXX of Bitcoin." You always find comments like: "This is a buy signal" or "The market surely is Bull if a whale buys". No it's absolutely not. The only difference between you and a whale is the possible amount to invest. A whale could invest 1% into crypto and own 50 BTC while you invest 10% of your savings and own 0.001 BTC. Just because he owns much, doesn't mean he knows much. I don't wanna say that every whale is dumb but these guys go in with way bigger investments. Therefore a whale can make 10% profit and you make 15% yet he'd be the "big brain". [link] [comments]  | ||
| China Pulls Out the Big Guns to Avert Evergrande-Fuelled Disaster Posted: 01 Oct 2021 01:10 AM PDT
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| JPMorgan's CEO now Implies Bitcoin Can Hit $400k In 5 Years, after Calling it a Scam 3 Years ago Posted: 30 Sep 2021 12:13 PM PDT
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| Ethereum’s Triple Halving is happening as circulating supply plunges Posted: 01 Oct 2021 01:44 AM PDT
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| The U.S. Will Not Mirror China’s Ban On Cryptocurrencies, Fed Chair Powell Tells Congress Posted: 30 Sep 2021 04:21 PM PDT
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| Posted: 01 Oct 2021 02:43 AM PDT | ||
| El Salvador Has Officially Started Mining Bitcoin With Volcanos Posted: 01 Oct 2021 01:31 AM PDT
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