Cryptocurrency Moon Week 20 - New Governance Polls and the State of the MOONion |
- Moon Week 20 - New Governance Polls and the State of the MOONion
- The most important piece of regulation on cryptocurrencies in the world thus far has arrived: I read through all 405 pages of the “Proposal for EU Regulation on Markets in Crypto-Assets” so you don’t have to. Here are my conclusions.
- When you talked about crypto currency with your family at thanksgiving today what has been the most outrageous statement made by a family member or friend?
- If you are smoker, quit and start buying Crypto.
- There are only two types of people who say crypto is a scam…
- One of the biggest mistakes the beginners make is only focusing on the short term & expecting profits every single day without any pull backs.
- If you think you are late to crypto, take a look outside of your news/subreddit bubble.
- CCIP022 - Reducing the double-karma for comments within Comedy posts
- If you're in crypto for the long run, do yourself a favor and stop staring at the charts all day
- Did you know why Satoshi Nakomoto chose to be anonymous? Its supposedly because of the way US government treated Liberty dollar creator Bernard von NotHaus.
- 20 play-to-earn blockchain games that really earn crypto rewards!
- South Park episode last night set in the year 2040 : We only take Bitcoin
- CCIP023 - Moons Multiplier for the new Flair System
- What is the smartest rug pull people have fallen for?
- BAT has been rising (+26.8%) , What and Why it is for people that do not know.
- People are now blaming PlanB for losing money
- Crypto.com token (CRO) added $7 billion to its market cap over past week. After spending $700 million on the naming rights to the Staples Center, the Crypto.com exchange token price doubled its value.
- 5 practical reasons I smell that Ergo is about to EXPLODE
- New Study: 96% of Americans Don't Understand the Basics of Crypto, Bitcoin, NFTs, or DeFi
- Why we all continually say to just DCA and hodl; some calculations
- How is your Mental Health?
- Crypto.com card is better than you think!
- My 60 year old dad bought his first crypto last night. The best part? I didn't encourage him at all
- Coinbase is starting its own advertising campaign with Ben Affleck. How you like them apples Matt?
- Mining Pool Innovates in how to pay miners saving $10m USD in fees.
| Moon Week 20 - New Governance Polls and the State of the MOONion Posted: 25 Nov 2021 07:06 AM PST Hello everyone and welcome to Moon Week for round 20 of Moons! For more information about Moons, please see our wiki page here. Moon Week began yesterday with the snapshot post by the admins. The ratio is 0.201 and you can 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 first. Each month we have dozens of questions about these things even though they are answered right here:
Here are your polls for round 20 of Moons. Each poll has been given a designated CCIP number, as per CCIP-017. You can now view the full CCIP list here.
As noted in the repeat polls, CCIPs 19 and 21 are repeats this month. New ideas will get priority, but we are allowing previous polls to be run again if they had strong support and just didn't reach the decision threshold. If there was a poll in the past that you liked, head on over to r/CryptoCurrencyMeta to let us know you'd like to run it again. Please also see the pinned comment below to read the latest State of the MOONion. Happy voting and happy Thanksgiving! 🦃 [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 25 Nov 2021 09:08 AM PST I present to you, the most important regulatory framework for cryptocurrencies so far: "Proposal for a Regulation Of The European Parliament and of The Council on Markets in Crypto-assets, and amending Directive (EU) 2019/1937".First of all, some context. This will be a long post but sometimes long posts are necessary. Bear with me. (TL;DR below) The proposed Regulation, the most important one to date for the entire crypto industry, establishes rules for issuers/offerors of crypto-assets (also known as: the foundations, developers and companies behind coins/tokens) and crypto-asset service providers (also known as: exchanges and custodians). These rules will have to be followed by every entity operating in the European Union. However, because of the "Brussels Effect", there is a very good chance these rules will become international standards in the end. While everyone is focused on the US and China, the EU is casually leading the way. The Council of the European Union (all EU Ministers of Finance or Economics) has just given its permission to start negotiations with the European Parliament (basically: things just got real). If they both approve the proposed Regulation, it will become EU law. I expect the Regulation to be voted through relatively easily with only minor amendments. The final legal text to become official EU law will thus be very similar to the current proposal I will be discussing in this post. The European Union emphasizes that they have an interest in "developing and promoting the uptake of transformative technologies in the financial sector, including distributed ledger technology (DLT)". They state that this Regulation is meant to: "support innovation and fair competition, while ensuring a high level of protection of retail holders and market integrity in crypto-asset markets, enable crypto-asset service providers to scale up their business on a cross-border basis, and facilitate their access to banking services to run their activities smoothly". The EU also says that they do not (!) intend to regulate the underlying technology of crypto-assets. I will now discuss (1) the rules this Regulation sets out for issuers/offerors of different categories of crypto-assets and (2) the rules set out for exchanges operating in the European Union. Rules in this Regulation for Issuers/Offerors of Crypto-Assets A) Crypto-assets that are unique and not fungible with other crypto-assets: no regulations NFTs, including digital art and collectibles are not (!) bound to the rules described in this Regulation, even when these assets are traded in market places and when they have (high) speculative value. B) Utility Tokens: no regulations 'Utility token' means a type of crypto-asset which is only intended to provide access to a good or a service supplied by the issuer of that token (EU definition). Utility tokens are not (!) bound to the rules described in this Regulation, as long as the good or service exists or is in operation. C) Crypto-assets offered for free: no regulations Crypto-assets where the receiver does not give money, fees, personal data or commissions to the offerors/issuers in return for those crypto-assets, are not (!) bound to bound to the rules described in this Regulation. This may be good news for Moons (there is no active exchange of personal data in return for Moons; even when Reddit collects personal data from all users). D) Crypto-assets that are "automatically created as a reward for the maintenance of the DLT or the validation of transactions in the context of a consensus mechanism": no regulations These crypto-assets are not (!) bound to the rules described in this Regulation. E) E-Money (stablecoins): very strict regulations 'Electronic money token' or 'e-money token' means a type of crypto-asset that purports to maintain a stable value by referencing to the value of an official currency of a country (EU definition). These tokens will be strictly regulated. Only recognized credit institutions and 'electronic money institutions' are allowed to issue e-money stablecoins. They will have to follow very strict rules (see Regulation Title IV for further details). Edit 1: As part of these strict rules, it seems that EU citizens would also not be able to earn interest on stablecoins, as pointed out by u/TheWerewolf5. Edit 2: it will take a while before this is all signed into law so exchanges still have a few years to phase out Tether for regulated stablecoins. There won't be a sudden Tether apocalypse. F) Asset-Referenced Tokens (stablecoins): very strict regulations 'Asset-referenced token' means a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing to any other value or right or a combination thereof, including one or several official currencies of a country (EU definition). This is what Facebook/Meta tried to do with Libra. These tokens will be strictly regulated. Only recognized credit institutions and entities that have been granted permission by the authority of an EU Member State can issue asset-referenced stablecoins in the European Union. They will have to follow very strict rules (see Regulation Title III for further details). G) Crypto-assets that do not belong to any of the previously mentioned categories (e.g. payment coins that do not promise a stable value or tokens that cannot be seen as utility tokens): some regulations These crypto-assets face some regulation. The Regulation describes very detailed rules on the contents of white papers and also establishes rules on marketing communications. This is bad news for scams with poorly written, undetailed white papers and those using misleading forms of marketing. The European Securities and Markets Authority (ESMA) will most likely establish templates and standards for white papers in the crypto-industry (see Regulation Title II for further details). Rules in this Regulation for Exchanges and Custodians A) Exchanges / custodians (centralized): rather strict regulations The Regulation focuses on establishing strict rules, such as: the obligation to apply for official authorization in an EU Member States; the obligation to act in the best interest of clients; the obligation for capital requirements, safeguards and insurance policies; the obligation to follow organizational requirements; the obligation to protect the crypto-assets and funds of clients; the obligation to hold the crypto-assets of clients in separate accounts than the accounts belonging to the exchange; the obligation to maintain effective and transparent complaint handling procedures; the obligation to identify, disclose and prevent conflicts of interest; the obligation to have resilient trading systems with sufficient capacity to deal with peak order and message volumes; and much more (see Regulation Title V for further details). There is, however, a small but concerning statement for privacy coins: "The operating rules of the trading platform for crypto-assets shall prevent the admission to trading of crypto-assets which have inbuilt anonymisation function unless the holders of the crypto-assets and their transaction history can be identified by the crypto-asset service providers that are authorised for the operation of a trading platform for crypto-assets". What exactly they mean with this and which coins exactly fall under this category still remains to be seen. But I don't think this comes as a shock for many. B) Fully decentralized exchanges and DeFi: no regulations (yet) Fully decentralized exchanges and DeFi protocols are not (!) bound to the rules described in this Regulation. Exchanges that are only partially decentralized may be bound to some of the rules in this Regulation but this is up for interpretation. The EU will, in the next few years, explore whether or not they will regulate this specific space. C) Self-custody software wallets / hardware wallets: no regulations These are not (!) bound to the rules described in this Regulation. Remember the huge "EU will ban anonymous wallets" FUD a few months ago? It was all a lie. No rules! Overall assessment I am pleasantly surprised. While some of you want nothing to do with regulation, which I respect, this seems very reasonable and a step in the right direction. This text has clearly been written by highly knowledge civil servants and has been endorsed by EU Ministers of Finance with a more open approach to blockchain and cryptocurrencies than their non-EU counterparts. The EU made the mistake of allowing the US/Asia to dominate the tech industry. They do not want to repeat that mistake with the cryptocurrency space. TL;DR: Cryptocurrency will still be the 'Wild West of Finance'; but now there will be a new Sheriff in town. And that Sheriff, is the European Union. It does no longer tolerate unregulated stablecoins; it does no longer tolerate shady projects with no utility, crappy white papers, and misleading marketing; and it sure as hell does no longer tolerate unprofessional exchanges who screw EU citizens out of their money. But it does like innovation and it will try not to hinder development in the cryptocurrency and blockchain space because they have made similar mistakes before in other industries. Link to follow-up on the Ordinary Legislative Procedure: https://eur-lex.europa.eu/legal-content/EN/HIS/?uri=CELEX:52020PC0593 Link to the proposed EU Regulation on Markets in Crypto-Assets: https://www.consilium.europa.eu/media/53105/st14067-en21.pdf Link to the "Brussels Effect": https://en.wikipedia.org/wiki/Brussels_effect Blogs, crypto journalists (you know who you are), etc. are all free to use the info in this post. No need to credit me. I just want people to be informed. 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| Posted: 25 Nov 2021 12:08 PM PST In the United States 🇺🇸 today a family tradition like no other will take place. People will drink way to much, families will like each other at first then deep divisions will show themselves and the meal might get tense. During these conversations did you bring up crypto currency? Was anything outrageous said by your drunk Uncle Sam? Did aunt sally say crypto was for fools? I am sure many of you have great stories. Please share your your best story. I need entertainment. I am in Covid 19 he'll and can't leave the house. Happy thanksgiving all have a safe and happy holiday! Remember a rising tides lifts all boats. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| If you are smoker, quit and start buying Crypto. Posted: 25 Nov 2021 05:18 AM PST I can't think of worse way to waste your hard earned money. Not only you are throwing them in the bin but you are harming your body as well. I know it's a pleasure and fun but the money paid for cigarettes pile up day by day, money which you otherwise can invest in Crypto. Where i live a pack of cigs costs around $3 and in most Western countries are much more expensive. Let's assume you smoke a pack per day and put things in perspective for 1 year. $3 x 365 = $1095 One of the most expensive places in the world to buy cigarettes is New York with average prices of around $12. This makes $4380 if you smoke a pack per day. Each one of you can make the calculation for themselves depending on the price and how much they smoke, but the totals are staggering. Thousands of euro, dollars, pounds which can be invested, staked, borrowed or whatever you can think of, all better than wasting them on this bad habit. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| There are only two types of people who say crypto is a scam… Posted: 24 Nov 2021 10:42 PM PST People who don't understand crypto at all, and have fear of what they don't know; and people who understand it way too much, and are worried by their economic interests being in danger. And then, there's my granma. Oh my she's so cool guys, ofc I love her! When I talked to her about cryptocurrencies and BTC, 2 years ago, she said: «I don't understand how this works, but you seem so excited about this, and young generations are always right in this stuff». She went to her bedroom and said:«wait, I want you to do one thing» She returned with 100€: «I want you to go to the bank and buy some crypto». She clearly had no idea that you could do things with money outside a bank influence. Of course I took those money as cash for myself but I invested 100$ in a new wallet. It was 2019, I bought ADA at 0.0352. I left it there and this year I sold them at 2$. 6000$ from 100€. Why? My grandma is not feeling well, and could not be able to walk soon. But mentally she's fine. I wanted to show that she was right in trusting me. I was so proud of myself, and after various whitdrawals from exchanges I had almost 5200€ in my account. I wanted to give 5000€ cash to grandma, as she did to me, and take 200€ for myself as "consulence". Lol. So in the last two and a half months I took cash 500€ weekly and last sunday I went to her. She remembered those 100€ when I talked to her, and after she saw 5000€ she couldn't believe her eyes. I lended the money to her and she only took 500€ for her and then she gave back to me 4500€: «go to the bank and buy more "crittusoddi" (=cryptocurrency in our dialect, I think she invented a new word lol), but this time don't come back with money». This week I invested 500€ in 9 different projects: DOT, LUNA, SOL, CRO, GALA, CKB, XRD, ALGO and ONE. I left them in my "grandma wallet", and I hope in two years from now they will increase in value and I could still show them to her, to feel like this again. This week I'm so happy and proud of myself, and I wanted to share this story with someone, as I only told grandma about my crypto knowledge. Sorry if I bothered you. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 25 Nov 2021 05:23 AM PST There are so many beginners who sell after a week or two of investing just because they had a few red days and just decided to give up on Crypto as a whole. Especially at this time in the market, people who are selling now will almost certainly regret it as we aren't even close to a bear market. You should always look at the bigger picture. Crypto, in its 12 year history has always recovered every crash no matter how big or small. You should never doubt your investment just because you had a bad day. Patience always rewards you in Crypto. This is exactly why long term Crypto investors hold through massive crashes no matter how big. TLDR: There will always be red days, but those days don't matter at all in the long term [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| If you think you are late to crypto, take a look outside of your news/subreddit bubble. Posted: 25 Nov 2021 08:14 AM PST Yesterday, for the second time this week I found myself in a thread where the crypto bashing was just insane (I won't link it, just in case). The general gist was this:
Additionally, any pro crypto comments were downvoted heavily. To be honest, as annoying as it was, I was a little bit relieved. We see news here everyday about mainstream crypto adoption and upcoming blockchain improvements etc, while many of us probably get tailored Google alerts about crypto; sometimes it makes you feel like you got on the boat too late. But stepping outside that gives a nice reminder that we still have a ways to go. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CCIP022 - Reducing the double-karma for comments within Comedy posts Posted: 25 Nov 2021 03:39 AM PST This proposal was created by another member who wishes to remain anonymous. Re-posted as you apparently can not schedule Governance polls Comedy posts earn 10% of Moons compared to other regular posts. They are fun and I enjoy reading them, however the comments are very repetitive and you almost know what the top few comments will say before you even read them. This proposal will reduce contribution point multiplier on comments within comedy threads back to 1x instead of the 2x that was enacted in CCIP-001, which should help alleviate the constant repetition of the same responses to jokes. It will only affect threads flaired as "comedy". [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| If you're in crypto for the long run, do yourself a favor and stop staring at the charts all day Posted: 25 Nov 2021 09:38 AM PST It's fun reading crypto news, being on this subreddit and occasionally checking the prices. But the habit of refreshing the charts a few times a day or a few times every hour, or, waking up at 4am and reaching for your phone just ruins your life. Staring at the charts won't help the prices. If you're not day trading you're doing more harm than good. Think of all the things you could do instead. All those projects you've never had time for, watching a movie, calling your parents, playing with your kid. Staring at charts mostly adds stress, but that's about it. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 25 Nov 2021 04:22 AM PST TLDR: Bernard von NotHaus created a private currency that is backed by gold and US government bought criminal charges against him. The Liberty Dollar was a private currency system started in 1998 by Bernard von NotHaus, also co-founder of the Royal Hawaiian Mint Company and creator of the Free Marijuana Church of Honolulu. The name of the Indiana based company that produced Liberty Dollars was originally "National Organization for the Repeal of the Federal Reserve and the Internal Revenue Code" (NORFED), but it was later changed to the less inflammatory name, Liberty Services, to reduce negative attention. The premise of the Liberty Dollar was that unlike U.S. dollars and many world currencies, each Liberty Dollar was backed by a specific weight in precious metal. $20 Liberty Dollars were set to be one ounce of silver. Unlike most other forms of alternative currencies, each Liberty Dollar carried a U.S. face value, was exchanged for U.S. Dollars, and included not just paper currency but also minted coins. By 2007 Liberty Dollar's attracted the attention of federal government officials. The exact legality of the currency was under debate by many government officials. At first, it was unclear if Liberty Dollars were being passed as counterfeit dollars because their likeness was too similar to the U.S. money, especially in light of the company's original name. However, Claudia Dickens of the U.S. Treasury Department's Bureau of Engraving and Printing was quoted as stating that it was not illegal provided that the bills did not say "legal tender". This did not last long though since government officials soon found Liberty Dollars in violation of 18 U.S.C § 486 which forbids private citizens or companies from producing coins made of metal that are used for current money. In late 2007 the FBI launched a raid against the company, seizing the Liberty Dollars, the precious metal stores and computers used to store information. Soon after, the Liberty Dollar bank accounts were frozen and the company's website was shut down. Legal troubles followed with creator Bernard Von NotHaus being convicted of several crimes related to creating his own coins along with one count of conspiracy. These convictions carry potentially steep penalties, that may also include forfeiture of the Liberty Dollars produced in precious metals. This last issue is still being ironed out in court, with the Liberty Dollars being worth $7 million in precious metal. The legal troubles faces by Bernard Von Nothaus is thought to be the reason why Satoshi Nakamoto chose to remain anonymous rather than expose himself to the mercy of the US government given the political situation at that time. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 20 play-to-earn blockchain games that really earn crypto rewards! Posted: 25 Nov 2021 10:22 AM PST My fellow crypto enthusiasts: The following list is one I have compiled after playing Crypto Royale for the first time, realizing how big the future of blockchain gaming is going to be. Most of these games are games that you can have your kids to play for you (if you have them,) ... some of them are violent, though, so keep in mind that not all of these games are suitable for children, and I'd bet that the chat in any of these games is probably not suitable for children. Also - only one of these games incurs an up-front cost. Without any further ado- here's to hoping that we can all find something to do while bored. https://coinhunt.world – Coin Hunt World - "Coin Hunt World is a mobile game that lets you earn crypto while exploring your neighborhood. Discover keys and unlock rewards. Play individually or with a team!" (Available on Andriod, currently invite-only beta in iOS.) https://www.idlecyber.com – Idle Cyber - "A P2E model idle game. Huge content with unlimited levels and PvP mode, the game is a new kind of frontier defense and RPG." https://axieinfinity.com – Axie Infinity - Pokemon style game with missions, adventure mode and PvP. A trusted big name in P2E gaming. https://metawars.gg – Meta Wars - "A futuristic sci-fi game following a multiplayer strategy." https://splinterlands.com – Splinterlands - "Trading game where players build a collection of playable Monsters & Summoners." ($10 up-front to unlock the full version of the game.) https://www.sandbox.game/en/ - The Sandbox 3D - "A blockchain-based version of Roblox or Minecraft. … Falling in the category of games for players, this platform also allows you to develop and play your own game." https://godsunchained.com – Gods Unchained - "This unique game is well-known for merging various NFT components with a typical card trading game." www.sorare.com – Sorare - "This soccer game lets players sell, buy, manage, and trade a virtual team with the help of Digital Player Cards." https://lightnite.io – Lightnite - "...falls into the category of Fortnite-like online multiplayer games or battle royale games." https://staratlas.com – Star Atlas - "A grand strategy game of space exploration, territorial conquest, political domination, and more." https://aavegotchi.com/ - Aavegotchi – Basically a Tamagotchi (or digital pet,) from which you can earn crypto. More a participating game than a competitive game. https://mcp3d.com – MegaCryptoPolis - "This game combines quite a lot of different stuff – not only is it a virtual economy simulation that requires users to focus on management, it also features NFTs as resources owned by the player." https://crazydefenseheroes.com – Crazy Defense Heroes – Tower defense game where you can play to earn a share of monthly distribution through earning exp. https://blankos.com – Blankos - " it's perhaps the closest to an AAA game we've seen from the NFT and crypto world. Users buy collect and outfit their Blankos before playing in various party games and competitions with them, of course for a reward in the form of more NFT drops or just straight up crypto." https://revvracing.com – Revv Racing – Play to earn racing game. https://cryptokitties.co – Crypto Kitties – Collect and breed digital cats. "CryptoKitties is a game centered around breedable, collectible, and oh-so-adorable creatures we call CryptoKitties!" https://alienworlds.io – Alien Worlds - "Your task is to discover new planets." https://cryptosnake.game – Crypto Snake – Snake, but profitable! https://goldfever.io – Gold Fever - "Gold Fever is a challenging free-to-play survival RPG hybrid that leverages the power of the blockchain to create a decentralised economy around its limited resources and various NFT items." https://battleracers.io – Battle Racers - "Mix and match different parts and weapons to create your perfect Battle Racer. Race! Use your combat skills to beat other players to the finish line." [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| South Park episode last night set in the year 2040 : We only take Bitcoin Posted: 25 Nov 2021 08:53 AM PST
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| CCIP023 - Moons Multiplier for the new Flair System Posted: 25 Nov 2021 03:37 AM PST What's the poll?We can use the Flair system to give Moons bonuses or penalties to encourage the best kind of posts that all visitors to the sub enjoy and benefit from. Moons awarded should be proportional to effort spent.How?A few of us Mods recently changed the flair system to be less specific and get rid of some of the older and irrelevant flairs. We currently award 10% (x0.1) of moons to Comedy posts and Media posts. I propose that we choose some sensible "Moons Multipliers" to all of our flairs.What's the benefit?Some of the best and most helpful posts on this subreddit are when redditors sit down and perform awesome write-ups. I've seen tonnes of helpful threads such as a full documentation of the best Liquidity Farming platforms, users that create tools for the community to use, and in-depth, thoughtful debates. I believe we can further incentivize these posts by awarding Multipliers to each flair to curate the content this community provides to what's beneficial, and not link farming or lazy comedy posts with minor alterations.What's the drawback?A hell of a lot of posts get submitted daily to this subreddit. 4 figures per day sometimes. And as this has the potential to award users more Moons than normal for their posts, you can bet your ass some gaming of the system will go down. Here's some thoughts I've had for you to digest;
Proposed MultipliersI've posted this a few times in the Meta sub and the current flairs & their proposed multipliers are well accepted. There's always room for improvement however.
So the general idea is, we want to encourage:
No change for news link posts as that's Reddit's bread and butter. And small to large penalisations for repetitive and low-effort content:
You might think it odd to see Reminders or Advice in there, but these are heavily abused for some easy moons. I'm hoping that if implemented, users will be encouraged to curate better analysis and debate posts, so we can all learn new things and become better at investing and using Cryptocurrency, while also discouraging lazy re-hashed comedy threads, repetitive reminders and advice better contained in a "Newcomers" section or similar. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What is the smartest rug pull people have fallen for? Posted: 25 Nov 2021 12:31 AM PST By smart I mean that there has been a team/face behind it, some technologies revealed and projects in the making which would make the coin look like something real. But then something has happened and all the people got scammed out of their money. Squid token for example wouldn't be a really good and thought out scam , people that invested were just clearly uninformed or caught the notion and tried to time the market for quick money. I am relatively new to crypto and have probably missed it so I was interested in learning about it and not making the mistake as other people before me. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BAT has been rising (+26.8%) , What and Why it is for people that do not know. Posted: 25 Nov 2021 10:57 AM PST BAT stands for Basic Attention Token They aim to "solve the endemic inefficiencies and privacy violations hobbling the digital ad industry."Basically advertisers like Google, who probably know more about you than you know about yourself. The targeted ads on every single website you go to happens behind your back, and you can do little to control your privacy. For example: You go look at a new gaming keyboard or something along that lines. You visit (Brand A), but you leave their website after. 2 minutes later you have multiple ads from (Brand B), (Brand C) and (Brand D). Google knows that you went on (Brand A)'s website to look at a keyboard, and starts forcing other keyboard ads in your face. It's an invasion of privacy, and as I said, you can do little to control it. Why the project has been insanely successful is because of its integration with the Brave Browser, which is also privacy orientated. Brave lets you choose what kind of ads you get, rewarding you partially for viewing ads, and also calculating your attention span. From brave.com " You can control every aspect of Brave Ads — from the number of system notifications you'd like to see, to whether or not you want to hide sponsored images. You'll earn 70% of the ad revenue that we receive from advertisers. In exchange for your attention, you'll accumulate tokens as you browse. You can contribute these tokens to the sites you love — with more options coming later. " Fun Fact, Brave is also built on the Chromium base which browsers like Chrome and Edge are also built on. Why I believe BAT is rising:I don't believe it's just following the trend, hitchhiking along with other coins, but also because it's mission is getting the attention of some media and investors. BAT has a purpose, and Brave's browser is gaining popularity, not just because you can earn some crypto on it, but also because of its built in privacy features. (Think of it like duckduckgo but you can earn a little $) It has long term potential, as intrusive advertising sites, (EX: FACEBOOK) will face lots of laws/regulations about their invasive techniques, more people will become cautious about using the internet, and wanting to stay safe. BAT has short AND long term potential. BAT has spiked to $1.33, with a $1,977,737,669 market cap. For more information about BAT read https://basicattentiontoken.org/ Brave: https://brave.com/ Thank you for listening to my ted talk. (I earn an average of 12-20 bat tokens a month) Edit: YOU CAN WATCH YOUTUBE WITHOUT ADS [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| People are now blaming PlanB for losing money Posted: 25 Nov 2021 05:08 AM PST PlanB has now admitted that 98K is not going to happen this month, on his Twitter. And a lot of people commented: "Do you know how much money people lost because of you." And that really pisses me off. Did PlanB tell you to open leveraged longs? No, he didn't. That's their own decision. He just makes predictions like everyone else. He's been right 3 times in a row, which is way better than what the haters do. Also, even if he told you: Open up leveraged longs, it's still your decision to listen to that or not. Take predicions with a grain of salt. I am not here to defend or attack PlanB, I am neutral. But I do want to rant about the people who are now saying: "I lost so much money because of you, scammer." He's a scammer because he can't predict Bitcoin correctly? I have to be honest, I thought 98K was going to happen as well, because he was so accurate before. Halfway during the month I noticed it was probably not going to happen. But now people are attacking him, because he was wrong and that's not fair. Wondering what will happen to Benjamin Cowen when he makes a wrong prediction... [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 25 Nov 2021 12:04 PM PST
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| 5 practical reasons I smell that Ergo is about to EXPLODE Posted: 25 Nov 2021 01:55 PM PST I'm not going to shill you with Ergo technology. In this highly competitive industry, everybody seems to have the BeSt TeChNoLogy. But you should definitely check Ergo if you believe that DeFi if the future. Because Ergo's tech and community can give a fight to top10 easily. Here are some practical reasons Ergo is about to explode. When you see those coins rising 30%-40% in a day and it's the first time you ever heard about it, how it makes you feel? Well, Ergo is a small cap coin that most people probably never heard about. Here are the reasons why it's still small-cap:
Ok now with all that said ergo is 250M MC with just organic growth with is really nice. What is about to change and why ergo is going to explode?
So those are my reasons why I think Ergo is the next moonshot. Not financial advice Happy Thanksgiving! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| New Study: 96% of Americans Don't Understand the Basics of Crypto, Bitcoin, NFTs, or DeFi Posted: 25 Nov 2021 01:11 PM PST
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| Why we all continually say to just DCA and hodl; some calculations Posted: 25 Nov 2021 01:16 PM PST $1 a week into Bitcoin for the past 9 years would be $470 total invested and be worth $102,233. $10 a week into Bitcoin for the past 5 years would be $2,610 total invested and be worth $32,510. $2 a week into Bitcoin for the past 3 years would be $314 invested and be worth $1,896. Lastly, for all the new comers, $1 a week into Bitcoin for the past 1 year would be $53 total invested and be worth $76. It pays to be patient. Happy holidays! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 25 Nov 2021 01:59 AM PST Let's face it. Crypto can be stressful. Your health is your true wealth. As a community, it is good to talk about how Crypto has affected our mental wellbeing. Please feel free to talk about anything that's been on your mind. E.g: • Have you overextended your finances? • Has excessive checking of charts burned you out? • Have you been feeling the compulsion to 'gamble' on margin in an irresponsible way? • Are you finding it hard to talk about your financial situation to your partner/family? • Has crypto had a positive effect on you? I would love to hear how you all are coping, and learn some strategies to maintain good mental health in crypto. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Crypto.com card is better than you think! Posted: 24 Nov 2021 09:08 PM PST
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| My 60 year old dad bought his first crypto last night. The best part? I didn't encourage him at all Posted: 25 Nov 2021 06:16 AM PST I'm really proud of my dad. Up until two months ago he said crypto is shit and he still referred to all crypto as Bitcoin. Now he's doing his own research and came to the conclusion he wants to diversify his portfolio and include crypto. He's gone the safe route and went 50/50 BTC and ETH. He considers the current prices too high and fears a crash to below 50k. When he told me this I explained to him that he could DCA weekly and he liked that idea. A little back story: two months ago my dad asked me how my Bitcoin is doing. He knows I first got into crypto in Dec 2017 and has occasionally asked me about it through the years but he never felt like buying crypto up until now. So for a few weeks we've spoken about crypto and he would ask me a lot of questions. I made sure to answer all questions objectively and made him very much aware of the risks involved. In fact, I placed a lot of emphasis on the risks. He thought about it for a while and then asked me to help him get started. Fast forward and now he's "decrypting the crypto" 😂 (When he says this to my mom, she just rolls her eyes) Yes, he now refers to it as crypto and no longer as Bitcoin. I would mostly talk about sports and cars with my dad but now we're talking about crypto too and I just love it. I'm rooting for him. I think it would be pretty cool if he made more gains than me. Only time will tell. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Coinbase is starting its own advertising campaign with Ben Affleck. How you like them apples Matt? Posted: 25 Nov 2021 11:43 AM PST
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| Mining Pool Innovates in how to pay miners saving $10m USD in fees. Posted: 25 Nov 2021 05:47 AM PST Mining pool innovates on how to pay miners saving $10M USD in fees The high transaction fees seen on the Ethereum network can be a nuisance even for network miners. It was this problem that the Ethereum mining pool — 2Miners, identified and set out to solve. In this post, I you tell you how this happened and present some very interesting (and even shocking) numbers about how this has been impacting the business and the market. The 2Miners mining poolAccording to poolwatch.io, 2Miners is the fourth largest Ethereum mining pool in computational power, making 32.7 TH/s right now (just 2 TH/s less than third position) and responsible for 3, 9% of all network hashrate. It is the third largest in the number of miners, with 70,560. On October 11, 2021, the pool made a blog post commenting on the increase in fees on the Ethereum network due to an increase in the number of transactions and the new dynamics of block size and fees that came with the hard fork " London Upgrade" in August. At the time of posting, network fees were around $10 and, according to the publication, it was already a high-impact figure on the income and viability of the business for some small miners. A miner who produced $100 in rewards, when paid by the pool, would direct 10% of his profit to the network. This is because miners share computational power with the pool to improve their chances of mining blocks and, as a result, receive the reward for their work. It is the responsibility of the mining pool to receive the reward from the network in an account under its control and distribute payments in proportion to the hashrate generated by each participating miner. Payments are daily and each payment in ETH involves a transaction and, consequently, a gas payment (fee in the Ethereum), which on November 22nd, for example, was at an average of 50 dollars according to the page @TransactionFees. The problem and its solutionIn many mining pools, miners have to wait days, weeks or months to accumulate a minimum reward called the "no payout fee" to receive their payment without discounting the fees (the pool absorbs this amount). On @nanopool_org, for example, this value on 11/22 was at 0.4 ETH (approximately US$1,720.00). The problem with waiting so long is that the miner is at risk on suffering from the asset's negative volatility. If the currency depreciates before the miner makes his profit and converts the earnings to the local fiat currency to cover his mining costs (energy, internet, equipment, etc), his earnings will not be consistent with the amount produced in the previous days. Receiving daily payments is the most efficient solution in such a volatile market, and each miner can decide to convert the values to another currency of their choice at the time (according to their work carried out) or wait for a possible appreciation. Having sovereignty in managing your income and decision-making power is the differential. Mining pool 2Miners then said they had been researching a possible solution to this problem for a few months and found it in nano. Nano is digital money with no fees and definitive confirmations in 0.3 seconds. From November 12th, their miners can choose to receive the daily proportional payments for their work in nano (XNO) instead of Ethereum (ETH). 2Miners also understands that many miners may not trust nano, as it is still a low marketcap currency, and therefore they have also made available the option of payment in Bitcoin on-chain, with lower fees than those observed on ethereum and a great reserve of value, as reported. The payment methodIn short, the process is as follows:
Some numbers and data collected in the periodNUMBER OF MINERS According to data collected by user zergtoshi, on October 15th, 2Miners had 47,029 miners and on November 23rd it had 70,350. An almost 50% increase in the number of miners in 39 days. Of the total 47,029 miners, 1,751 (3.7%) received their payment in bitcoin and 2,146 (4.5%) in nano. The remainder (91.8%) continued to receive ethereum. Of the total 70,350 miners, 39 days later, 14,367 (20.4%) received their payment in BTC and 12,599 (17.9%) received it in XNO. Only 61.7% continue to prefer ETH. TOTAL PAYMENTS MADE IN NANO (XNO) According to data collected by the blocks explorer NanoLooker, and consolidated by me for Cointimes in the preparation of this article, a total of 239,885 individual payment transactions were carried out in a period of 42 days (oct-12 to nov-22). These transactions amounted to Ó¾749,375.00 nanos and $4,284,384.00 dollars, with an average of Ó¾18,006.50 and $110,817.50 per day respectively. If we replicate this average for a period of 365 days (1 year), 2Miners only would be generating a trading volume greater than Ó¾6.5M and $40M, in a currency with a market capitalization of less than US$700M and Ó¾133,248,290 circulating supply. XNO/USD value conversions were as per the corresponding daily quotes and 2Miners realized an average price of $5.72 USD per Ó¾1 nano with purchases. All 239,885 nano transactions were performed for exactly US$0.00 in network fees. More than US$4M transferred instantly in a secure, decentralized, feeless and ecofriendly way. If the same number of transfers were performed via bitcoin (something similar was done, according to data shown above), 2Miners would have paid approximately $741,901.37 USD in fees, according to the average network fees observed in each of the 42 days of the analyzed period, according to the @TransactionFees page. This logic can be applied to virtually any business. Flowhub (fintech payments for the legal cannabis market in the US) also appears to have already realized the benefits of using nano for payments. Amazon recently stopped accepting Visa credit card purchases because of high fees. And there are dozens of other businesses that are also already seeing the benefits of using XNO as efficient digital money. DYOR — Do your own research, and take your own conclusions. Is it worth it in your opinion? Credit: Reddit User ViniBarbosa [link] [comments] |
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