Cryptocurrency Daily Discussion - November 2, 2021 (GMT+0) |
- Daily Discussion - November 2, 2021 (GMT+0)
- Lot of attention for Squid Game that stole $2million, but 3 days ago AnubisDao stole $60million and no one cared.
- You're in your 20s, thinking about buying a new car from your investments here's food for thought: I do not know a single 30 year old who tell me they wish they spent more money on cars and luxuries when they're 20.
- NO GAS FEES - Loopring – Why It’s Rocketing?
- Why crypto won’t make most of us rich
- Did people miss that DOT just hit a new ATH?
- SQUID did exactly what it was created to do.
- Y’all are investing money that you can afford to lose, right? …..right?
- Ethereum breaks its ATH again and it's just the beginning
- Rules for crypto noobs. Please learn from my mistakes.
- Why don’t I see any crypto enthusiasts talking about the intersection between gross wealth inequality and our movement?
- Has anybody gone to Burger King Today and gotten Crypto?
- I just don't know anymore. This place used to be cypherpunk. Now it's pro-establishment?
- Earning $1000 from Crypto in 1000 days from scratch. Day: 182
- El Salvador Owns $67 Million Worth of Bitcoin Now After It Buys 420 More Bitcoin
- Crypto.com is now the most downloaded app in the US play store while Coinbase is the most downloaded in the Apple appstore
- Let us take a moment in time to appreciate what a fantastic year Eth has had, this time last year ETH was $383!!!
- Lol, one of us got featured in an article - Reddit user told aunt to put life savings in crypto, “she lost £35k & won't speak to me”
- Another ALGO Post and another ALGO Noob
- Vitalik Buterin sending a 0.1 Ether test amount before sending the entire amount of 1500 Ethereum shows how decentralized Ethereum is
- Once resistance, now a support! |BTC managed to stay above $60K for 18 days now!
- Should I tell my significant other about my crypto gains?
- What do you do if you become a Crypto Millionaire?
- What are some advantages of using a long term trust to invest in crypto?
- Shitcoin frenzy strikes again! Guy looses almost half a million overnight. This is why you do some research and don't just throw money into random shitcoins!
| Daily Discussion - November 2, 2021 (GMT+0) Posted: 01 Nov 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: 01 Nov 2021 06:32 PM PDT I don't understand the phycology of people, yesterday and today we had countless posts about squid game, everyone super worried with good reason because a scam is a scam and those responsable should me pointed out. But after the Shiba frenzy there has been this project called AnubisDao on ETH, it was a cute dog page that they promised it would have the mechanics of OlympusDAO. It had several famous devs involved and they managed to collect 13000 ETH or $60million aprox, they rugged everyone taking all the funds out of the contract. And now inside that team they are pointing fingers between each other and no one knows where the funds are. This happened 3-2 days ago. What surprises me is that this was a rug where famous devs have been involved and no one is talking about. "DYOR" "you should put your money on people that has been proved right before" "trust on respetable people, not on randoms" etc etc...in this case it has also been proven wrong, and 30 times the amount of SquidDao have been stolen. Crypto is a dangerous space, random projects that tells you in your face that you cannot sell your funds (basically telling you I'm gonna steal from you), or others that seem like a good bet but they fk you up anyways. Stay safu. [link] [comments]  | ||
| Posted: 01 Nov 2021 10:27 PM PDT The common theme amongst 30 and 40 year olds? It's always they wish they INVESTED into XYZ 10 or 20 years ago. It is always the same fucking regret. Always the same fucking stories about buying this cheap piece of land, this Apple stock from 90s, this AMZ, this TESLA stock. Nobody ever fucking says they regret not spending $200,000 instead of $20,000 on a car 10 years ago. Fucking nobody. Those that say $200,000 cars a 'worth it' already have $20 million or more and that's why they spend $200k on gratification and enjoyment. You just made $500,000 or whatever from crypto. You're not on that level. Keep investing. Because I'll fucking say it again: No 40 year old ever regrets not spending more money on car and designer suits and shoes when they were in their 20s. [link] [comments]  | ||
| NO GAS FEES - Loopring – Why It’s Rocketing? Posted: 02 Nov 2021 02:20 AM PDT I wrote the initial GME and Loopring post, which seemed to help and educate a lot of people on their potential partnership. As Loopring rocketed yesterday, I wanted to try to explain why so many people are buying LRC. This coin has pure fundamentals, and provides one of the most incredible solutions to a problem we all complain about. No More Gas Fees (You read the correctly) Ethereum is a beast (ETH bull here) which is the future of cryptocurrency– but the Gas fees really can affect us. We are tired of paying $150+ in Gas fees, just to transfer or buy $100 worth of a cryptocurrency. That with long delays just to process a transaction can be brutally painful for our wallets! Therefore, Loopring is being purchased and was the number one cryptocurrency yesterday. Loopring is a secure layer 2 protocol which allows users to transact without gas cost and without delay, while still enjoying the full self-custodial security of Ethereum. Yes, in the future, there may be more services coming out to reduce Gas fees, but we have this here and now. And it works beautifully. How does it do this? Loopring uses a data structure called a Merkle Tree. It's like an off-chain database where your assets are recorded and represented off the chain. However, you can still trade, make transfers on Ethereum without paying gas fees, as it all happens off chain. Yes, trading is free. You can literally go from one currency to another. I could take my ETH, and swap this to USDC – no gas cost at all. With Gas these days, that would save me about $200. Once you're ready, click 'Swap' and your transaction will be executed instantly. No delay, no gas fee. Your L2 balance will be updated. Its Blazing Fast & Your Funds Are Safe As Loopring processes all activity off chain, it compresses all transactions into one transaction, and does all the hard work before it processes on the Ethereum network. This means it uses Ethereum's security protocol, bit can process with a much higher throughput. Its security is so good that if Loopring stops working, your funds are completely safe. As long as Ethereum exists, you can always withdraw your funds from the rollup. So, it's Faster, Safe and What Else? Loopring also extends this technology to its exchange. The Loopring Exchange is a DEX which has an ANM, an orderbook and a mobile smart wallet. Liquidity staking is also there for anybody who wants to provide their assets to get a return. With the potential GME partnership, Loopring allows companies to build platforms using its system. For example, a NFT platform, which has the scalability, security and speed of a CEX, whilst being able to cut gas fees as any company will take advantage of Loopring's Layer 2 protocol. The Loopring Smart Wallet is perfect for holding assets safely (you have the ability to lock your wallet), but allow perfect for traders who want to take advantage of cryptocurrency swings without having to pay huge gas fees per transactions. Simply open a wallet, activate it on to L2, and your ready. It's also near instant to process a transaction. To Summarise: To Trade: No Gas Fees To Add Liquidity: No Gas Fees To Swap Tokens: No Gas Fees It's blazing fast – no more delays or price slips waiting for a transaction to be processed due to high gas fees. I hope this helps you understand why Loopring is rocketing, and why people are so excited. GME is just one potential partnership it could gain. With an exciting announcement coming in Q4 (mentioned by the Loopring CEO), this is about to rocket up the cryptocurrency coin rankings. [link] [comments]  | ||
| Why crypto won’t make most of us rich Posted: 01 Nov 2021 02:01 PM PDT Very few believe in crypto to the degree necessary for it to make you rich (short of complete luck meme coin mooning). They aren't going in hard enough. $100, even if your crypto goes 100x, is not making you rich. Or you are constantly jumping from one "opportunity" to another, instead of committing as absolutely hard as you can to what projects you believe in. And they will sell far too early. When they have enough to get out of debt. When they need a down payment on a house. When they panic after a crash. When life happens. Their day to day reality will be more real than the hope of a radically different future. No judgment here. If crypto improves your life, it's still a win. But it's not what it could have been. I first got into crypto 5 years ago, but "life happened". I thought I needed the money. Knowing I could now have 100x as much money, I see that I didn't need it as much as I thought. But now I know, and I'm back in. As financially and emotionally committed as I possibly can be. Because I refuse to find myself feeling this same way 5 years from now. And whatever obstacles that come up, I will deal with them as if my crypto investments don't exist. Me from 5 years from now will thank me. [link] [comments]  | ||
| Did people miss that DOT just hit a new ATH? Posted: 01 Nov 2021 01:49 PM PDT Did y'all miss this? I haven't seen a post about this so far but DOT currently sits at $49.81 and recently hit its new ath of $49.91. I didn't expect it to fly under the radar to be honest. It's pretty well known that DOT has been trading sideways for a while now, ever since the bear market dip earlier this year but maybe this is polkadot's time to shine and finally have its explosive upside trend. I want to congratulate everyone who held onto their DOT and everyone who bought it when it dipped all the way down to $12 during the bear market. [link] [comments]  | ||
| SQUID did exactly what it was created to do. Posted: 01 Nov 2021 08:51 PM PDT Squid game was a token built around a show that was meant to be a commentary on capitalism where everyone who participates in the game dies. Well, almost everyone. One old man, the #1 participant, created it. Then invited a host of others to participate for a chance at millions. Statistically the odds were stacked against them, and they played anyway. All but one lost everything. Everyone who invested in SQUID token chose to do so, knowing the show/game it was based off of. Sounds like SQUID did exactly what is was created to do as well, but nobody wanted to read the white paper. Locked into a coin for three years? Who made that move? Who actually read the white paper and said "this is a great idea?" Discuss [link] [comments]  | ||
| Y’all are investing money that you can afford to lose, right? …..right? Posted: 02 Nov 2021 02:52 AM PDT Pumptober has been a beautiful sight to see. Coins pumping left right and centre thanks to Big Daddy Bitcoin making a new ATH! It's very easy to feel the fear of missing out (FOMO) when you see astronomical gains across the charts. It's risky to chase a pump but sometimes we do it just for the thrill of it - and that's okay…as long as the money we are investing is something we can actually afford to lose! When I say "lose" I mean literally turning your $100 into $0. Crypto is a ridiculously volatile market and although it's not uncommon to see 10x or even bigger gains, it's even more common to see people lose all or a large chunk of their money. Cough Suid Game Cough I see it a lot in the daily, people taking loans out or over-investing their savings into a project — this is a huge risk because nobody knows what's around the corner. I honestly couldn't care less what coin you want to invest in, or even whether you're going to do research first or not - but if you're going to be investing, make sure your bills are paid; there's food in the fridge; and that even after you've deposited in, that there's still fiat aside for random emergencies. Anything can happen. Be prepared! [link] [comments]  | ||
| Ethereum breaks its ATH again and it's just the beginning Posted: 02 Nov 2021 03:38 AM PDT Etherum is currently trading at $4470. I know that this was expected to happen sooner or later, but it also clarifies those new investors who are misled by the recent wave of shitcoins hitting the market. Why do I think that ETH2.0 will be a game-changer? Scalability Ethereum 2.0 upgrade will improve the network significantly. Ethereum 2.0 is expected to support 1000s of transactions per second, to make applications faster and cheaper to use, thus making the network more scalable. Sustainability Ethereum 2.0 is also planning to move from the current Proof of Work protocol to Proof of Stake. This upgrade will address one of the major concerns associated with energy-sensitive crypto mining and shift towards environment-friendly, greener technology. Gas Fees One of the major deterrents for any new investor to invest in Ethereum or make transactions on the ethereum network; is the high Gas fees. Sharding will increase the number of transactions on the network, addressing congestion issues and reducing the transaction fees. My humble prediction for Etherum is $6000 by the end of November; what's yours? [link] [comments]  | ||
| Rules for crypto noobs. Please learn from my mistakes. Posted: 01 Nov 2021 05:03 PM PDT
I personally don't have a problem with anyone keeping their funds long term on kyc established sites like coinbase as long as you have 2fa and have confirmation its on the blockchain but I'd stay away from holding it at places - there's a ton- that are not reputable. They're never gonna care as much as you do.
To everyone asking if I'm ok...yes im fine I've learned all the lessons the hard way actually pretty stoked for the next few years. Edit- Rules 14 on are from the comments and i thought were necessary. Also thanks to all for the support and kindness. I genuinely give 0 fucks about moon farming. Just don't want ppl to deal with the same helplessness I went through. I rarely post and the psychology and hate of the internet comment culture is so toxic and hateful. I'm amazed but indifferent so do your worst. Not financial advice just opinion and my experience. [link] [comments]  | ||
| Posted: 01 Nov 2021 04:13 PM PDT I can't think of a bigger barrier to mass adoption than people refusing to take part in an ecosystem in which we're artificially creating wealth disparities even greater than Bezos/Musk. We're at the political crossroads of massive frustration from the working class participating in systems that don't benefit us but we're all acting as temporarily embarrassed millionaires during the Gold Rush. There's so much cognitive dissonance in these ideas that we forget wealth doesn't exist in a vacuum and can be a zero sum game. In what way can we utilize blockchain that benefits humanity but doesn't require being early to these ecosystems in order to be ahead other people? I believe crypto is the future, but I want a better way for all people, not just for me because I know about it early. Am I alone in this? [link] [comments]  | ||
| Has anybody gone to Burger King Today and gotten Crypto? Posted: 01 Nov 2021 07:04 PM PDT Has anybody gotten the email with the link from Burger King? I went and got a Whopper meal three hours ago and have yet to receive an email other than the receipt. was wondering if anybody else has had any luck with this yet? Also noticed on the fine print that you can send a letter in the mail with your information on it to get the codes sent to you without having to make a purchase, anybody going to try this? I believe it said you can get one code for everyday the contest is going on so 21 total. not sure how many Whoppers I can eat, but going to try at least a couple of times and see if I get lucky. Whopper, Whopper, Whopper, Whopper [link] [comments]  | ||
| I just don't know anymore. This place used to be cypherpunk. Now it's pro-establishment? Posted: 01 Nov 2021 12:05 PM PDT Maybe I'll get a lot of negative comments, but that's ok. I just feel a bit lost sometimes when I look through the posts and comments on here and other crypto subreddits. Satoshi wanted to give a big middle finger to the existing financial system...not be absorbed by it. Genesis block: " The Times 03/Jan/2009 Chancellor on brink of second bailout for banks Satoshi Nakamoto " The bailouts ruined countless lives, both short and long term, ranging from hardworking everyday people's retirement funds to investors to everyone inbetween. The banks robbed us blind. But now we have people excited about ETFs. People crave the old ways instead of embarking wholeheartedly to the new. Some people beg for regulations when they see shitcoins and other unfortunate circumstances. Are you kidding me? Give this centralized power to the same thieves that use their power to steal from the masses? Hard pass. Yes it sucks when people get burned, but hey sometimes that's how you learn. You want full and total control over your money, you need to take full and total responsibility over your choices. Hard fact. Everyone regurgitating talking points about how exciting it is institutional finance is getting involved with crypto and how they'll better manage it is just feeding into the corrupt system. Please wake up and smell the roses before it's too late. Maybe I'm alone here, I don't know. But if this sounds cool to you https://en.wikipedia.org/wiki/Cypherpunk then join me down the rabbit hole. Thank you and have a nice day. [link] [comments]  | ||
| Earning $1000 from Crypto in 1000 days from scratch. Day: 182 Posted: 01 Nov 2021 03:40 PM PDT Prices are from three days ago. I thougt I would update you guys, because my favorite crypto is finally unbanned from this sub! I'm also taking graphic design more serious. I picked up this skill solely for this challenge. Dont let these numbers fool you. My main crypto coin has peaked, this was based on luck. Rules:
Nano:
Banano:
Moons:
Algorand:
Crypto Royale:
Publish0x:
GeoCash:
CoinHuntWorld: ~ $0.20 WAX Sold some of my nfts : )
Brave
BOMB
Total: $941.63 What I have learned from this experience:
Effective hours spent: 38 hours, hard to make an exact with things like brave. Things that didn't work/are not available in my country:
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| El Salvador Owns $67 Million Worth of Bitcoin Now After It Buys 420 More Bitcoin Posted: 02 Nov 2021 01:37 AM PDT
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| Posted: 02 Nov 2021 02:05 AM PDT Just shows how fast Crypto is being adopted. Banking apps are nowhere close to even the top 10 while Crypto is number 1 in all categories. Even in the Apple app store, Coinbase is the number one most downloaded app. This is huge considering Facebook, Tiktok, Snapchat, Instagram or even messaging apps are below Crypto apps. Crypto is literally growing faster than the internet in its prime years. Honestly, I believe this is just the start of Crypto becoming mainstream. I can only imagine what the future holds. [link] [comments]  | ||
| Posted: 01 Nov 2021 07:50 AM PDT Let us just take a moment in time and appreciate what a fantastic year Eth has had. It is easy to lose sight, especially with all of the crazy shitcoins that are pumping and dumping lately and the Scams such as Squidcoin that is taking up most of the headlines, but let us not forget that this time last year Eth was $383.68!!! And now 1 year on we sit at over $4300!! Let that sink in all you so called Eth killers! Eth has been on an absolute rocket ship for most of this year and with Eth2.0 just around the corner 2022 could be even bigger! This just goes to show investing in legitimate projects long term is almost always the best way to go. Eth killers be warned ⚠️ the old girl is not stopping anytime soon! [link] [comments]  | ||
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| Another ALGO Post and another ALGO Noob Posted: 01 Nov 2021 06:43 PM PDT I am a bit late to the ALGO game, but I have just discovered how much APY the Yieldly app provides. You can stake your Yieldy or other ASAs for crazy APYs that range from 40-110%. I have always invested heavy into ALGO, and initially I honestly thought that everything else that came with ALGO was a bit corny or just too good to be true. After giving it a try and converting my ALGO through the newly released tinyman app, I am extremely excited and ridiculously high on hopium. Now that I got that out of the way, I am curious to know why more people are not aware of or have not spoken much about these opportunities on here. I know that many people here will say that I am shilling the coin or promoting out of my free-will, although I honestly am not. I just really want to know: What are your thoughts on ALGO? Are you staking through Yieldly and using Tinyman? What are is keeping you from using ALGO /Yieldly /Tinyman? [link] [comments]  | ||
| Posted: 02 Nov 2021 02:22 AM PDT
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| Once resistance, now a support! |BTC managed to stay above $60K for 18 days now! Posted: 01 Nov 2021 03:22 PM PDT Congratulations to everyone! I know it's hard to appreciate these kinds of charts in the flow of the market, but BTC found a great place in $60K level for nearly 3 weeks now is just incredible! In these 18 days span, BTC only once dipped to $58K and pumped right back to $60K in less than a day! Pumptober was awesome, now on to the No Sell November and then, we can enter the new year where everyone at least has the financial freedom to do what they want in this Xmas The bull run is just getting to heat up, the next stop $100K! [link] [comments]  | ||
| Should I tell my significant other about my crypto gains? Posted: 01 Nov 2021 05:31 AM PDT I can't be the only one with this conflict. We've been together almost 3 years. Right before we met, I made a decent investment into crypto. By now, I've made good money, but it's not like I'm rich or anywhere close. I really just want to keep holding and going to work every day as usual. The reason why I haven't told her; she is the arbiter of paychecks. Her financial responsibility is similar to if you handed a 9 year old your life savings and sent them into Toys R Us unattended. Money spending and savings is just about the only issue of contention between us. If I showed her the account, I'm afraid of the "conversation" that would follow. I have to tell her some day, I know. Personally, I don't think the day is quite near. We might fumble through another crypto crash, but I believe the market has a lot of growing to do. The longer I wait, the more awkward it's going to be when I finally tell her, but, the larger the account. I don't want to start spending all of this money, but I also don't want to feel like a liar to the woman I've been with. I have one friend I've told this to. He asks if I even love her, and of course I do. Were you in my shoes, what would you do? [link] [comments]  | ||
| What do you do if you become a Crypto Millionaire? Posted: 01 Nov 2021 10:55 AM PDT Sorry if this has been posted before, but I looked through everything and cant find specifics, which is what I am curious about. Say you get in on a coin before the main stream media gets wind, basically any of the recent ones that have just blown up. Usually what precipitates a blow up is the coins addition to major platforms like Coinbase, Robinhood, etc. How do you cash out? Your $1000 dollar investment is now worth 10 Million (whatever, made up numbers), so now what? Your coins are probably in whatever wallet you use. Do you just transfer and cash out? [link] [comments]  | ||
| What are some advantages of using a long term trust to invest in crypto? Posted: 02 Nov 2021 01:34 AM PDT
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| Posted: 02 Nov 2021 01:21 AM PDT I'm sure everyone has seen the Anubis DAO rugpull news by now but have you read the article about the guy who lost almost $500k in it? In the article he says, "We, in crypto, tend to have a 'buy first, do research later,' mentality." Don't be like this guy! Do some research before putting your money into these projects. Especially if you're putting in large amounts! I'm not saying that research could have prevented this specific rugpull but Jesus Christ! To put almost 500K into a coin without doing any research is just a recipe for disaster! I'm all for gambling on some low cap shitcoin projects if you view them for what they are. Lottery ticket type buys that may or may not pay off. Just realize that your investment can easily go to zero instead of the moon! Build a portfolio with some trusted tried and true cryptos and of course you can have some gambles in there. If they moon great and if not you're not going to get wrecked. [link] [comments]  |
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