Cryptocurrency Daily Discussion - November 5, 2021 (GMT+0) |
- Daily Discussion - November 5, 2021 (GMT+0)
- This isn’t the space for your libertarian rants about how the government isn’t allowed to tax you.
- I took out a 40k loan just over a month ago to buy bitcoin here is how it’s going:
- If you invested $1000 into SGT a week ago it would be worth $52 today *the other side to these million dollar equations*
- What is your #1 cryptocurrency market rule that you will never break?
- The crypto community used to be rooted in libertarian ideals, now it's all people trying to make a buck
- Crypto.com just overtook Tiktok in the google play store - Why is it so populara?
- Yes, you should rant about the government taxing you. It is one of the reasons crypto exists in the first place.
- You're kidding yourself if you think Millennials and Gen Z will inherit anything from the boomers. If you want wealth, create it for yourself.
- Coinbase has given the middle finger to SEC threats over launching their lending service, as users can now borrow up to 1 Million!
- I’ve been dealing with the IRS for 3 years. It’s not what you think.
- Cryptocurrency Sub-Reddit is #1 growing communities today! BULLISH!
- More smoke in the LRC GME saga as New code leaks
- Day 4 - Is Polygon (MATIC) overpriced?
- Crypto is not a means to avoid taxes but a way to return accountability to an reckless government.
- I thought I knew what hopium was until the WSB crowd started shilling LRC
- Comment the coin you hold and we roast it
- SCAM ALERT: 92.21% of AUDIUS tokens are owned by just 10 addresses…
- Facebook's metaverse plans labelled as 'dystopian' and 'a bad idea'
- Five Underrated Metrics for Picking Altcoins
- If you had invested 1000$ in BIMP 7days ago , your current investment value would be 0$. The dark side of Gambling in Crypto which one talks about
- Survey: 1 in 25 Americans quit job due to profits on cryptocurrency
- A lot of bullish news this week.
- They Will Take Everything From Us
- If you had invested $1000 in USDT a year ago , your current value would be $1050 by staking it. The "neutral" side of investing into Crypto which no one talks about.
| Daily Discussion - November 5, 2021 (GMT+0) Posted: 04 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:
Useful Links:
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| This isn’t the space for your libertarian rants about how the government isn’t allowed to tax you. Posted: 04 Nov 2021 12:06 PM PDT You make money, you pay into the pot. The number of posts/comments I see in the vein of "taxation is theft" and just general entitlement about every cent we make is ridiculous. You are not exempt, none of us are. You are not a sovereign citizen. Your internet money does not excuse you from your respective tax laws. Telling people online how you are dodging taxes is also fucking stupid. Track your shit, pay your taxes, and move on. If you get cute you're going to get caught. Crypto isn't worth paying fines - or worse, going to jail - over. Edit: i've been called a lot of things on this thread, but I think my favorite act by the libertarian dude bros was someone reporting me to Reddit for suicidal thoughts/needing help lol Edit: thanks for the moons! A few kind people sent me some. Much obliged. [link] [comments]  | ||
| I took out a 40k loan just over a month ago to buy bitcoin here is how it’s going: Posted: 04 Nov 2021 02:44 PM PDT So I made a post a bit over a month ago it was about taking out a 40k AUD loan to buy more bitcoin which I withdrew off the equity on my mortgage at 2% interest if anyone was wondering how I kept the interest rate so low. So how is it travelling? I pay an extra $150 a month on the repayments which I have managed to pay without working more. How? A simple combination of buying less alcohol and bringing my lunch to work 1 more day a week instead which has actually cut down more spending and helping me lose a bit of weight which has been a really positive outcome. The price of bitcoin? I bought my 40k worth at around 59k AUD which with this purchase pushed me over the 1 BTC mark which I was rapt with. The price today is around 82k AUD so I'm around 38% AUD up on my investment. In addition to this I have staked my BTC at around 4% so I am making passive income on my investment. My plan? Whenever I feel we are starting to get to the FOMO stage I will sell 40k worth of BTC and pay back the amount that I borrowed. Even if it only goes to 108k AUD (which we all believe it will go a lot higher) I would of doubled my money. If it goes to a bear market? I have been easily been able to service the extra repayments by just making a couple of small sacrifices and I am happy to wait a couple of years if need be. I understand this is not for everyone however would just like to share my experience so far. Cheers legends !! 👊 (Not financial advice) [link] [comments]  | ||
| Posted: 04 Nov 2021 04:59 AM PDT We've all see the headlines about SHIB and others, $1000 a year ago would be millions today, but at the point when you would have needed to invest to have those gains today — they weren't different than most of the hype coins that landed people in the red. Shib took off yes, don't misunderstand me — I'm perfectly happy with that. But the gamble those holders took then is way underestimated today now that everyone knows of it. The dozens of other coins that fucked people hard — don't make for as good of a one year equation. I took the liberty of going through the most popular moonshots posts from a year ago.. to bring you some examples:
After this we started getting into rebase tokens where the "price" doesn't move they just "adjust" the tokens that you hold, but you can't sell either so I'd say $1000 into those burned up pretty quickly.
Anyway, I'm seeing a lot of posts asking how to jump on a newly listed coin first and where to find them, and I just wanted to say .. I don't even think those that have held SHIB for a year give themselves enough credit for how big a leap they took. This style of investing breeds a lot more losers than winners, and winners rarely stop there and cash out — they're on the hunt for the next opportunity to lose money. Do whatever makes you happy — but I think we need to see more of the whole picture [link] [comments]  | ||
| What is your #1 cryptocurrency market rule that you will never break? Posted: 04 Nov 2021 02:17 PM PDT As we see many newcomers enter the market, they don't have a sense for the market like those who have had long term experience. A lot of easy to avoid mistakes are made. People lose a ton of money. Those who have weathered the 2018 crash have some tough skin and rigid rules they will never break in the crypto market. Tons of this insight comes from past mistakes we have all made. A rule I've learned not to break is to never sell 100% of a crypto to buy a new one. Always save around 10% or more. If I had done this with ETH over the last 5 years my ETH bag would be substantial. What is your #1 crypto rule that you don't ever break? Edit: Welcome and good luck to all the newcomers the crypto community is happy to have you! [link] [comments]  | ||
| Posted: 04 Nov 2021 08:27 PM PDT I almost feel like an old man harkening back to "the good ole days" but for the ones that have been around since the early days (Before $1k+++ BTC) know how deeply rooted the crypto community was in libertarian ideals toward the start. For the most part, no one knew how big bitcoin and the crypto space would really be, and most didn't support bitcoin and the concept of cryptocurrency for price gains (Since there wasn't much) but for ideological reasons of freedom from the excessive power that the government holds over us and the monetary system. It nearly breaks my heart that the community has gone so far from the ideals it was based on and has turned more into a circlejerk of people trying to become millionaires rather than on the incredible freeing power that bitcoin and other cryptos can have for the regular, common person. I'm sure this will get lost to the other SHIB X10000 and gov loving posts but I hope some will step back from the intoxicating ideas of getting big gains and focus more on the freedom of decentralized currency and the ideals the crypto community is based on. Also taxation is theft The Times 03/Jan/2009 Chancellor on brink of second bailout for banks (What crypto is really about) Edit: I love the downvotes! It only further solidifies how far this community has strayed from it's original ideals [link] [comments]  | ||
| Crypto.com just overtook Tiktok in the google play store - Why is it so populara? Posted: 05 Nov 2021 01:06 AM PDT Hello guys, im a big fan of crypto.com. I use Kraken as my main exchange because they are secure and i trust them. I like the way the app is designed and the support is amazing aswell. However they lack the stacking opportunities CDC has. The main reason is im using it as a second exchange is the Debit Card. In germany gaining 2% cashback is actually quite a lot. For example AMEX offers 0,5%, Amazon aswell (more if you order on amazon). Those deals literally just suck. With the ruby card (350 Euro Stake) i get 2% Cashback and Spotify cashback worth 10,63 every month. That alone is like 36% Return a year (!). With recent events (coinbase listing) Crypto.com overpassed Tiktok in the play store. They really stepping up the marketing game with formula 1, UFC partnerships and a lot coming up. Q4 is about to be wild and they promised us. I bought in at 9cents and was like, Damn im late. However i tripled my money within 8 months and the card works flawless. I just buy groceries and fuel with it. If you have any more questions im happy to answer them. My honest opinion is that this card is a no brainer for EU (cuz we somehow arent involved with great cashback deals like the US) Cheers, David [link] [comments]  | ||
| Posted: 04 Nov 2021 06:43 PM PDT I feel like u/Yeetasaurus1979 meant well but missed an important point with his popular This isn't the space for your libertarian rants about how the government isn't allowed to tax you. The very first block mined by Satoshi back in 2009 had the following heading:
In the wake of the 2008 financial, the message that the government was doing the people dirty was somewhat clear. Banks responsible for selling subprime mortgages, sold the risk to Wall Street who, in turn, dumped the risk back on the people through shit Mortgage backed securities. When things went south, people with adjustable rate mortgages lost their homes, pension funds lost money because they used to buy "low risk" MBS sold by wall street and the economy tanked, along with millions of blue-collar jobs. Meanwhile, the government injected huge amounts of money to save the very institutions that caused the entire debacle, and it did so with money of the average taxpayer; the very people that suffered the most. Though, contrary to popular belief, Bitcoin was not a response to the financial 2008 crisis (Satoshi had been working on it before the crash), it is pretty much well accepted that it the crisis helped to drive the point home, and the header on BTC's genesis block illustrates just that. It is also telling that, during BTC's early days, that strange new technology was a hot topic among two main communities: the cryptography community and the libertarian community. Libertarians were some of those who saw the potential of having a currency that could escape mismanagement by politicians and central banks and, yes, evade the IRS. I was a libertarian back then (my views have changed since) and I remember vividly the discussions about bitcoin as early as 2010 (unfortunately, I didn't buy any). It was adoption by libertarians ranting about how taxes are theft that helped give BTC its very first baby steps. The point is. I agree with u/Yeetasaurus1979: pay your taxes, keep track of your transactions and don't risk going to jail because of it and all of that. But don't forget that the government often takes your hard-earned money and spends in ways that are completely against your interests and well-being. So rant about it, pressure your representatives about it and always involve yourself in the fight against abusive and immoral government practices. Remember that this is one of the reasons crypto exists in the first place. [link] [comments]  | ||
| Posted: 04 Nov 2021 10:26 AM PDT This is in response to another post where OP talks about $30T of wealth from boomers eventually being transferred to the next generation. OP tells us to be patient with our crypto investing and wait until the boomers give us money. Get out of here with that trickle-down nonsense. Given everything we know about the boomer generation, do you honestly expect to get anything? The boomer generation is all about hoarding resources. They see the younger generations struggling with multiple jobs. What about owning a house or having enough extra money to raise family? Total fantasies. Boomers. Don't. Care. They insult us for our participation trophies. They mock us for being "woke." They tell us to stop eating avocado toast. In fact, this whole narrative of, "just be patient, you'll get your opportunity someday," sounds exactly like something a boomer would say. Translated, it means, "Don't upset the status quo. That might threaten our power and wealth." OP links to two articles articles about how millenials and gen z should be excited about receiving crumbs in the future. Unsurprisingly, the sources are from wealth services catered for boomers. For the rest of us: If you want wealth, create your own wealth. If you think crypto is the way forward, then good luck. It might save us from the boomers. Lastly, let's not be like the boomers when we get old. Should any of us acquire wealth beyond our means, please share with the next generation that comes after us. I like that one dad who created crypto wallets for his kids. They shouldn't have to suffer the way we did. [link] [comments]  | ||
| Posted: 05 Nov 2021 01:25 AM PDT In mid September, the SEC threatened to sue Coinbase if it launches its then planned lending product. Even though there were similar services already available, the SEC targeted Coinbase due to its size and profile to send a message. Cut to today and coinbase has got a hell of a message for the SEC! Come borrow a million bucks! This has made my day! This is the way the SEC should be treated, with the same amount of respect it shows crypto. Keep doing your thing Coinbase, you scored another fan today. Sources: https://blockchain.news/news/coinbase-exchange-users-can-borrow-up-to-1m-loan-bitcoin-collateral [link] [comments]  | ||
| I’ve been dealing with the IRS for 3 years. It’s not what you think. Posted: 04 Nov 2021 02:57 PM PDT This is not a post about whether you should or should not pay taxes. I don't care. This is also not a post on HOW to pay taxes. I don't know. This is a post on my experience with having tax problems, in case it sheds light for someone else. I have been dealing with an ongoing tax matter for several years and thought my experience may help clear up some misconceptions. Obviously, all of this is my experience only and not meant as any kind of general legal advice. Background: Several years ago, I got into a business problem that was very bad from a tax standpoint. This was not related to crypto. I won't go into the details of what happened, but suffice it to say it was not an innocent mistake, nor was it based on lack of knowledge. Instead, it was the least bad choice of several bad options at the time, because sometimes life just happens. If I had it to do over again today, I'd do things 90% the same way. I was waiting for the IRS call and it did eventually come. And for 3 years now, I have been straightening everything out with them tax-wise. Here are some things I've realized that may help you if ever end up tangled with the IRS. The IRS is just a big bureaucracy like any other bureaucracy. That means your biggest fight will be against the system itself, not against anyone within it. Dealing with tax problems mostly means being drowned in paperwork. You'll get letters non-stop. First they will send you a letter letting you know you're about to receive a letter. Then you'll receive a letter. Then a letter confirming that you were sent a letter. Every step of the grueling process will require filing forms you've already filed, submitting paperwork you've already submitted and having to explain your situation to yet another government bureaucrat. There is a common misconception that once you get tracked by the IRS, someone will be on your case obsessively. Not true. Your biggest challenge will be holding someone's attention long enough to actually get something done. You will not go to jail. Ok, maybe you are some kind of big-time drug trafficker. Or perhaps you are committing tax fraud at a Wesley Snipes level. In that case, all bets are off. But for everyone else, relax. No form of incarceration is going to be on the table for you for any run-of-the-mill tax bullshit you've pulled. Putting you in jail does not get them what they want, which is the money you owe them. That's all. The IRS is not a James Bond agency. When you think of IRS agents, you might be picturing the cast of CSI: Miami or something similar. That's wrong. Have you ever been to the DMV or the unemployment office or someplace like that? You know those ladies that work there? That's who you should be picturing. Tonya and Miss Keisha. And they are not tracking you down with binoculars. They are not staking out your home or tapping your phone. They are paid to send you letters. And then another letter stating that they've sent you a letter. That's all. They're more Parks and Recreation than CSI: Miami. We live in a democracy; their powers are limited. They do do things like send letters threatening wage garnishment and so forth. But at almost every step, there are chances for appeal and about a half-dozen ways to stop bad things from happening. They work more by attrition than by force. They annoy you to the point where it's easier to comply than to keep putting up with all their letters. But at least in my experience, they will rarely take any dramatic measures like pulling money out of your bank account. Even though they claim they will. Inconclusiveness will not get you off the hook. I've seen people here assert that since the IRS can't prove where XYZ came from or can't prove that you made such-and-such income, that means you're off the hook for it. No. They don't have to prove anything, they just have to ask you about it. And unless you're prepared to lie (in which case, you're on your own), you will have to tell them how much money you made, where it came from, etc. Having said that, they will take your word for things. I was surprised how often they simply relied on my self-reporting to determine what to do with my situation. They rely on records that you yourself provide. If you say you don't have something, they take your word for it. They double-check very little. Personally, I didn't lie about anything because why risk that? But I could have if I wanted to. Could you lie about your crypto holdings? Sure. Would you get away with it? I don't know, probably? But then don't get mad when Janet Yellen pushes laws designed to combat precisely that behavior. Tax agents are humans and they can be sweet-talked within limits. There is some discretion in an agent's job. At least the ones I've encountered. They can make choices as to whether to have you fill out that form for the 9th time or not. They can decide that a bank statement from 32 days ago (not 30) is recent enough. Be nice to them. Treat them the way you'd treat a post office clerk or a flight attendant. They're just doing a job and are in a position to help you out if you don't treat them like the enemy. Always file the paperwork. So remember how I said I'd do things 90% the same way if I had it to do over? The 10% I would change is that I would have taken the forms and the paperwork much more seriously, much sooner. Even if you aren't going to pay any money, still go ahead and file whatever paperwork they ask from you. Just put $0 in the blank for payment. They HATE it when they don't get their paperwork. They hate that more than not getting their money. I can't overstate how much the hassling was reduced after I filed all the overdue paperwork, even without paying them a nickel. NB: Obviously, this is about the IRS and therefore is about the US. I'm not trying to be exclusionary here, but I can't say how things work in Germany or Lebanon or Australia because I don't pay taxes in those countries. I pay taxes in the US. EDIT TO ADD TL;DR: The IRS is not a super spy agency determined to throw you in jail. It's a big bureaucracy full of working schlubs who seem more interested in annoying you with paperwork than in wringing money out of you. [link] [comments]  | ||
| Cryptocurrency Sub-Reddit is #1 growing communities today! BULLISH! Posted: 04 Nov 2021 08:39 PM PDT From unpopular opinions that are actually popular, to 10,000 comment coin shilling threads, this sub has it all -- and I'm so damn proud to be a part of it. You guys have taught me so much about the world of cryptocurrencies, taught me how to do my own research, made me laugh....and most importantly made me a shit-tonne of money! Even when this sub was a little more rampant (pre-cap), a 50,000+ comment post would still be full of happy, helpful people. Everyone I've dealt with so far has been respectful and willing to help the newbies out, which is something I can't say for a lot of other subs I browse on my alternate account. Keep doing what you're doing guys. The fact so many people want to join speaks volumes about the community y'all have created. Moons has most definitely been a reason behind a lot of people joining, which is awesome because when you check out ccmoons.com -- you can see how generous everyone here is. We are literally giving money away....and we don't care! Oh and we love Sneks! [link] [comments]  | ||
| More smoke in the LRC GME saga as New code leaks Posted: 04 Nov 2021 08:55 AM PDT
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| Day 4 - Is Polygon (MATIC) overpriced? Posted: 05 Nov 2021 03:10 AM PDT \Today is Day 4 of me doing full-time in cryptocurrency as a reddit publisher. Hope I can get support from the community. 6 months of reserve left for my family and I. A moon tip is greatly appreciated** I'm a rather new publisher learning about crypto and I hope you can join in this adventure with me and understand my efforts. I appreciate if there is minimal hate and more on guidance :) Who/What is Polygon?Based on their website, Polygon is a protocol and framework for creating and linking Ethereum-compatible blockchain networks. Aggregating scalable Ethereum solutions to support a multi-chain Ethereum environment. Polygon addresses Blockchain-related issues such as expensive gas fees and poor performance without losing security. This multi-chain method is similar to others such as Polkadot, Cosmos, and Avalanche, but with at least three main advantages:
However base on their website, there are potential challenges that may arise as well:
Even though there were challenges faced, their solution are unique:
Let's look at the fundamentals of it It is not as easy to create fundamental basis in cryptocurrency but there are a few metrics we can use. Polygon's token, MATIC, is the basic resource that powers the Polygon ecosystem. In addition to being an asset, it is primarily utilized for staking tokens (proof-of-stake algorithm) to protect the Polygon network. The MATIC token has a maximum quantity of 10 billion, more than 67% of which is now in circulation. It is now ranked among the top 25 cryptocurrencies in the world. CollaborationsPolygon established a collaboration with Infosys Ltd's consulting division. M-Setu is the name of this partnership. It intends to empower Infosys to give its clients with disruptive technology. M-Setu will serve as an open-source bridge that will allow businesses to collaborate utilizing the Ethereum blockchain. Another significant Polygon collaboration is the Trace Network. Trace is now employing it for NFT and DeFi, with the goal of becoming a go-to for shops to introduce NFTs to the public. For example, if a luxury business wanted to do NFTs on their items, the combination between trace and polygon would provide them with liquidity aggregation, comprehensive transparency, and supply chain traceability. Polygon made a tremendous announcement on May 29th, in addition to several other significant achievements. It announced the completion of a project to integrate the Polygon elements into Google Cloud's BigQuery. This connection allows BigQuery users to connect to Polygon, boosting its usability and positioning. Polygon has been added to Google Cloud's BigQuery's 1TB offering. This means that BigQuery users can utilize Polygon to execute queries and access various blockchain-related data sets on its network. Billionaire Mark Cuban backs PolygonOn May 25, Mark Cuban threw his support behind this Indian Blockchain business. He disclosed that he has made an investment in Polygon, which can be seen in his company's portfolio on their website. Cuban is well-known for his support for cryptocurrency. Despite Elon Musk's temporary suspension of taking Bitcoin payments for Tesla, Cuban declared that the Mavericks (his basketball outfit brand) would continue to accept cryptos. He noted that having a high Transaction Per Second (TPS) as Polygon offers is critical to lowering consumers' use costs. Furthermore, Polygon already has many blockchain initiatives, which adds to his motives for investing. Polygon's flawless growth has been aided by Cuban's funding. Polygon should expect higher adoption in the future as a cryptocurrency backed by the billionaire investor who backed Bitcoin, Ethereum, and other other cryptocurrencies. Major AnnouncementAnother significant announcement that is going to be made is the launch of Indian Premier League fan tokens backed by Polygon. The IPL is by far the most popular sporting league, with millions of supporters not only in India but all around the world. The League's active embrace of these currencies would draw in a large number of fans to the network, as well as aid to bring crypto into the mainstream. This would be big for the Indian crypto business, but it remains to be seen how this would be structured, as crypto is not yet legal in India. TLDR; MATIC still has a done of potential to moon! Source: https://financefeeds.com/polygon-matic-exciting-developments-planned-sports/ https://help.coinbase.com/en/coinbase/getting-started/crypto-education/polygon#:~:text=Polygon%20(MATIC)%20is%20an%20Ethereum,and%20new%20classes%20of%20assets.%E2%80%9D%20is%20an%20Ethereum,and%20new%20classes%20of%20assets.%E2%80%9D) https://www.blockchain-council.org/ethereum/what-is-polygon-matic-how-does-polygon-work/ https://marketrealist.com/p/matic-price-prediction-good-investment/ [link] [comments]  | ||
| Crypto is not a means to avoid taxes but a way to return accountability to an reckless government. Posted: 04 Nov 2021 11:51 PM PDT Government spending is out of control in the USA. Trillions on wars no one wants. Trillions in debt from wars no one wants. Congress always gets raises. Minimum wage hasn't changed in forty years. Big banks get bailouts while Americans get homelessness. And yet there's not enough money to provide healthcare to the people. We are run by a club of individuals who pass laws from which they're exempt and spend money that does not exist. They do not care about what is actually good for their constituents. But rather who can better fill their personal piggy banks which they call "campaign funds" used for flying in chartered jets and underage prostitutes. The USA needs to face the facts: Americans, you are not being governed—you're being ruled over. I don't care what trendy "eat the rich" crap your favorite congressman's social media manager posts on Twitter—congress is the problem. Try government is the problem. Being able to selectively pay taxes is a way to sit Uncle Sam in the corner for being a naughty boy and tell him he won't get dessert until he starts behaving properly. Crypto brings financial power back to the people. If you don't see that then go take your fiat and leave. [link] [comments]  | ||
| I thought I knew what hopium was until the WSB crowd started shilling LRC Posted: 04 Nov 2021 09:31 PM PDT This is nothing against WSB. I mean, if you have those sunglasses, a vault that isn't open, and the Wall Street bets flair it's unlikely I'm giving much weight to what you're saying. I do appreciate the effort and dedication This isn't anything against LRC either. I picked up a small bag. But HOLY SHIT you guys dish out hopium in next level ways. It's unabashed. It's fervent. It's enough to feel an actual wave of people behind it. It's really something. Relentless. If /r/cc's level of hopium a carousel, WSB is bungee jumping on cocaine [link] [comments]  | ||
| Comment the coin you hold and we roast it Posted: 05 Nov 2021 03:56 AM PDT So, for the past few days different coin have been pumping left and right and as such hopium seems to be at an all time high in this sub. Because of this i feel like a lot of newbie have entered crypto and it feels like a lot of the are not aware or informed of the risk associated with the coins they hold so, today whether you are a newbie or a veteran lets all roast each other coin just for today Lets all try our very best to list out all the fud associated with the coins that other people are holding. Tldr: comment your coin and we fud on it. [link] [comments]  | ||
| SCAM ALERT: 92.21% of AUDIUS tokens are owned by just 10 addresses… Posted: 04 Nov 2021 10:43 AM PDT I keep seeing people blindly investing in projects. Unfortunately, in some cases even celebrities are endorsing scams now, causing confusion at best and huge investment risk at worst. One in particular that just simply blows my mind is AUDIUS, and it's traded coin AUDIO. The premise of which is to be a "competitor of Spotify". Simply put, DO NOT INVEST IN THIS COIN! How do I know that Audius is a scam…? 1) When it was released, they never even bothered to announced their tokenomics and subsequent initial token distribution. That's right…they asked people to blindly invest in their platform without a formal economic structure in place…the sad part is, people STILL invested… 2) later…AUDIUS did (finally) announce how the coins were distributed. But, not by posting it easily on their website, and making sure it's accessible….it was buried and hidden from the community. They announced the tokenomics by way of (a very professional s/) paid medium article….no I'm not kidding… Which, describes that the vast majority of the coins would/are owned by Audius. They did however take the time to call themselves 3 different names, to make it a little more confusing. Here, is a summary:
in total that = 94.4% of distribution went to AUDIUS team Okay okay, I know what you're thinking…but is that REALLY true?! How could the company be convincing major celebrities (like Zedd) to participate in this scam? It's simple…paid adoption. They pay these celebrities (that know nothing of tokenomics) to list on their platform. It's an easy $25k for them, and they barely think about it again. All the while, Audius gets falsely portrayed as a legitimate investment, backed by celebrities. Proof: - Top 10 Audius wallets hold 92.21% of total supply - Top 50 Audius wallets hold 96.29% of total supply - 96.9% of the total supply of Audius Is owned by the top 100 wallets ONLY Also, if any of this is discussed over on their subreddit it will be censored/deleted by the mods. They are doing ANYTHING they can to hide this info. WARNING (Edit 1) Heads up everyone, this post is getting brigaded by a coin called "RHYTHM", which also seems to be a scam. I commented below, but here's some data on this (other) scam coin to watch out for: RYTHM = SCAM At a quick first glance….DEFINITELY bullshit. The top 100 addresses hold 81.87% of the total market cap In addition to the horrible tokenomics…it's a Binance Chain Token, which should create HUGE red flags in and of itself. Not to mention the coordinated brigading on this post is an obvious sign of a PnD scam. HARD pass from me. source here [link] [comments]  | ||
| Facebook's metaverse plans labelled as 'dystopian' and 'a bad idea' Posted: 04 Nov 2021 11:06 PM PDT
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| Five Underrated Metrics for Picking Altcoins Posted: 04 Nov 2021 03:46 PM PDT
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| Posted: 04 Nov 2021 07:59 PM PDT Every now and then we can see coins going 100-10000% in day which makes many of us wonder why don't we catch that move next time , which make us to search for the next Crypto that moves to moon. The amount of posts in this sub asking for the next 100x coin is at a ATH and every now and then people are being attracted into Crypto by the form of FOMO. Crypto was introduced to make our lives easy and with calculative bets this is the best store value out there to beat the inflation in the long term but the way it is used now just shows how early we are in the Crypto space. Behind every coin going to the moon , there are hundreds of investors losing their money with the same Fomo against another coin. This is why most of the investors stick with the best two - BTC and ETH. Now I'm not against people FOMOing with their portfolio , a 5-10% risk is not a problem but when they go all in where the shit happens. Instead of going behind these next 100x , if you had just invested all these days with the top Crypto projects , you'd have made much returns than running behind the next 100X coin. Edit :- If people want to go behind the next coin which gives them 100x , it's their wish their money and if they make money I'm happy for them. But this is just to show the downsides of doing that in Crypto. [link] [comments]  | ||
| Survey: 1 in 25 Americans quit job due to profits on cryptocurrency Posted: 05 Nov 2021 01:21 AM PDT
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| A lot of bullish news this week. Posted: 05 Nov 2021 03:37 AM PDT Here's a brief summary of some of the (very bullish) news headlines from this week. Remember folks, we are still early to the party. Not a bear in sight.
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| They Will Take Everything From Us Posted: 04 Nov 2021 07:38 AM PDT
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| Posted: 05 Nov 2021 03:03 AM PDT We've all see the headlines about SHIB, DOGE and other coins, "$1000 a year ago would be millions today", but to get those gains you'd need to invest really early. Through this sub we now have also seen what would have happened if you had invested your money into coins like Squid, Shibafever or BabyKrypto. But what would have happened if you tried to keep your risk low, by investing into stabilized coins? If you would have invested $1000 a year ago into the following coins and staked them with an APY of 5% you would have:
Considering an inflation of 3% you'd still be up 2%. It isn't much but still way better than just letting your money rot at the bank. Not an financial advice. Maybe. You can do whatever you want. [link] [comments]  |
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