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    Cryptocurrency New Moons Distribution (Round 20 Proposal)

    November 24, 2021

    Cryptocurrency New Moons Distribution (Round 20 Proposal)

    New Moons Distribution (Round 20 Proposal)

    Posted: 24 Nov 2021 01:39 PM PST

    Moons are r/CryptoCurrency's version of Community Points. Community Points are a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community.

    Moons are distributed every 4 weeks based on contributions people make to r/CryptoCurrency. For every distribution, Reddit publishes karma data as a default measure of contribution. The community can review the data and optionally propose an alternative distribution, if they wish.

    This distribution is based on karma earned from 2021-10-27 to 2021-11-23. Here is the data.

    To propose an alternative distribution:

    • You can create a CSV with alternative contribution scores or propose changes to the algorithm used to calculate them from karma (as long as the changes can be implemented easily).
    • The amount of Moons distributed to a user will be proportional to their contribution score. Contribution scores cannot be negative.
    • Make a poll to have the community vote on your proposal. Include an accurate description of the changes you are proposing.
    • In order to pass, the winning option in the poll must meet the decision threshold (minimum number of Moons in support). If it is in favor of the change, it becomes the official contribution measurement (unless there is evidence of abuse in the vote, such as bribery). Algorithm changes will carry forward to future distributions.
    • In case of multiple competing polls passing, the one with the most Moons cast in favor will be the official one.
    • If no alternative passes, the data provided here will become official.

    The contribution scores for this round will be finalized on 2021-12-01. Any poll proposing an alternative needs to be completed by then.

    After the scores are finalized, Reddit will sign the data and publish the final, official data. After that, people with a registered Vault will receive Moons directly into their Vault. Other users will receive their Moons when they create and register a Vault.

    submitted by /u/CommunityPoints
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    Daily Discussion - November 25, 2021 (GMT+0)

    Posted: 24 Nov 2021 04:00 PM PST

    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:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
    • Comments will be sorted by newest first.

    Useful Links:

    submitted by /u/AutoModerator
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    It’s been over 11 weeks and there are still no Cardano dapps

    Posted: 24 Nov 2021 06:53 AM PST

    Since my first post that was almost 11 weeks ago raising concerns about the "upcoming" dapps on Cardano, there have been no news on this.

    I was not only personally insulted in PMs, called a FUDer and an liar by the vast majority of Cardano holders, but was also told that Cardano dapps would be running 1 week after Alonzo Fork and dexes like Sudaeswap and ERGO would be fully functional any "moment" after the Alonzo Fork.

    So, are there any news about that?? Did the concurrency problem get resolved? If yes, why are there no functioning dexes on Cardano yet? Can someone from the Cardano community enlighten us please?

    submitted by /u/mask45
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    How do i make some money (Around 10 cents to 5 $ a day) from crypto

    Posted: 24 Nov 2021 09:24 AM PST

    I live in a poor country (Macedonia) , it is 4th poorest country in europe,

    Please give me tips how to make some money from crypto (Around 0.10-5$ a day) , i have around 2 hours a day to spend on it , also if possible without fees and requiring to pay,watching ads is also ok , just no mining, my laptop is so weak to mine

    i have no money to invest in crypto,,

    i have no problem with doing surveys , preferably if i can get money without id as corrupt government tracks everything here and sells all data, even 2$ a day is enough to pay for food for whole month

    submitted by /u/ibrokemytable200
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    The whole "Cryptocurrency mining is bad for the environment" is just one of many giant gaslighting techniques by the government to blame the average Joe for being detrimental to the environment rather than mega corporations and their factories.

    Posted: 24 Nov 2021 08:02 AM PST

    You always hear about how corporations and the media condescendingly lecture about how we're supposed to change our lifestyles in order to be greener all while they continue to spew toxic waste materials from their factories and manufacturing plants. What adds to the hypocrisy is that all these "environmentally progressive" leaders use their private jets to go to environment summits to barely pay attention to what's going on. Also, add to that the active fear-mongering towards nuclear energy, one of the greenest energy sources known to man, and twisting it into a nuclear apocalypse ticking time bomb.

    But let's talk about mining, how it's detrimental to the environment. No, I'm not talking about cryptocurrency mining, I'm talking about coal mining, which, long before the birth of Cryptocurrency, has been the black stain of the environment and contributed to climate change before crypto mining even existed. What's worse is that these mining companies use cheap labor in third world countries to mine for coal, which is one of the most dangerous and health hazardous jobs in the world, all for the sake of being as profitable as possible.

    All this is happening, yet these pretentious fucks want to lecture us cryptocurrency miners about how we're a bane to the environment? FUCK off. It wasn't my fault that oil and natural gas was used as the main power source of nations years before I was born. Countries had to literally invade and destroy nations and other peoples' lives for oil, yet the same politicians want to point their fingers at miners.

    You fucks wanna talk about the environment? Change your main power sources to green energy, and then we'll talk. But for now, I'm just gonna sit back and mute your voices over the sound of my 80 decibel miner.

    Edit: Removed a word

    Edit 2: I'm seeing numerous replies about Whataboutism. Your very own homes, with your plugged in electronics and appliances, are consuming a lot of energy (even when these electronics and appliances are not in use). These glamorous Christmas lights that people put up from November until Valentine's day, huge energy consumers. Main point is that as long as nations are using energy sources that generate pollution and greenhouse gases, every single necessity that we use (lights, cars, houses, computers) will negatively impact the environment. In addition to that, and this specifically applies to Americans, I keep hearing about HOAs that prohibit homeowners from installing solar roof panels on their homes just because they look ugly or ruin the aesthetics, and add to that people not liking wind turbines because they either look hideous or kill birds, or nuclear energy because people think that another Chernobyl is bound to happen. As long as this mentality is prevalent, expect nothing to change.

    submitted by /u/Ass-Kickin_Chicken
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    Hillary Clinton Tells Rachel Maddow that Russia, China Might Weaponize Cryptocurrency by ‘Manipulating Technology’ and "through the control of certain cryptocurrency chains." - She doesn't have a clue what she's talking about.

    Posted: 24 Nov 2021 08:51 AM PST

    Is Algorand really that big of a deal?

    Posted: 24 Nov 2021 11:39 AM PST

    I ran into this coin earlier this year. Bought small amount and hold it. I didn't DCA further after finding out more coins will be released on the market over several years.

    I also experiment with DeFi first time using Algorand chain. Funny cos I honestly thought my first DeFi experience would be on Cardano's chain. I'm too poor to use ETH chain.

    I must say, I'm very impressed by how smooth and cheap the experience was. I haven't researched much on what's been going on with Algorand but I was surprised to see its dedicated ASA subreddit has 18k members. Memecoins and scam coins are booming in that sub. Almost every day there's an airdrop, either scam or not.

    Usually, if I'm not mistake, this the sign the chain has good traction. Even when there are many scam coins running on it. I imagine like in Pancakeswap era.

    Is Algorand's future that bright? Could it reach Top 5 one day? Are you all start swapping and allocating more ALGOS or experimenting with their ASAs? What ASA you most excited about?

    I haven't seen any ASA hitting major exchanges so I'm curious if it'll be a thing one day?

    submitted by /u/inminit
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    This sub is bipolar as fuck about Cardano right now. You can just trust what random people on the internet say about Cardano, or...you could look at the data...

    Posted: 24 Nov 2021 11:04 AM PST

    The posts on the front page about Cardano right now are bipolar as fuck. It's true...most people would probably agree that Cardano is one of the most divisive topics of discussion on this sub. I'll admit my bias for the project, but my opinions have not been formed based on rampant, baseless speculation. Let's look at the facts and the data. I believe I've been able to leave my bias out of most everything below...

     

    Here is the Messari table for most active coins

    You can sort this table in all sorts of ways. As of today, if you sort by "Real Volume", "Transaction Volume", or "Adjusted Transaction Volume", you'd see Cardano ranked 3rd behind BTC and ETH. Now, some will refute this evidence of Cardano's utility by saying that Messari skews these numbers for UTxO platforms because of "change" UTxOs. Fair enough...let's sort by "Active Addresses" and we see Cardano ranked 4th at ~383k addresses, 80% of ETHs active addresses and about 42% of BTC...and this is without any DeFi projects having launched yet. You can see here that is a growth of about 250% over the last week. TheDeFi project with the biggest reputation at this point, SundaeSwap, will most likely launch before the end of the year. People LOVE to measure the value of a chain based on TVL, which many Cardano bears will correctly state that there is currently zero TVL. Yeah, no shit...you can't measure something before it's been created. It's like trying to say somebody will be a shit athlete before they're even born, they have to at least grow to an age where they can start participating (analogies not always my strong suit, bare with me...). Anybody calling Cardano "vaporware" is lying, and anyone saying it "has no dapps yet" is not paying attention to the activity in the community and, while true at THIS VERY MOMENT, is basically ignoring the state of current DeFi projects. Ethereum took far longer than 11 weeks for good quality dapps to get going, Cardano will have them in about 4 months time from launch of smart contracts.

     

    Ok...so Cardano is being used A LOT right now...how is it handling the load? Well, you can see here that the blockchain load has been steadily increasing since October. And you can see here that the number of transactions is spiking greatly. (You can adjust the graphs to an earlier date to see that the trend is increasing but I can't link directly to it). Best thing about Cardano? It was built to BEND NOT BREAK!!! There are many parameters that can be adjusted on an epoch's notice to accommodate more transaction volume. In fact, that is exactly what is being done. At the moment this is controlled by IOG, but when we eventually get full on-chain governance we, the community, will be in control of how Cardano adapts.

     

    I'm hoping I've laid out the facts with evidence pretty clearly here and I think I've avoided bias. I'm not trying to convince anybody to buy or sell, I want everybody to make up their own minds based on the data. It's exactly what attracted me to the Cardano project. There are ups and downs in the market, but Cardano's design will allow it to stand the test of time because of its "bend don't break" approach. The demand for its use is pushing up against the flood gates and they will be opening over the next few months.

     

    Edits for grammar

    submitted by /u/theTalkingMartlet
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    How to file your U.S. crypto taxes!

    Posted: 24 Nov 2021 11:14 AM PST

    I wanted to put together an early tax guide for those who have recently joined the cryptosphere, in an effort to help promote responsible crypto trading and investments. It's actually quite easy, but can be time consuming if you've made a lot of trades throughout the year.

    In the U.S., the cryptocurrency tax rate for federal taxes is the same as the capital gains tax rate. In 2021, it ranges from 10-37% for short-term capital gains and 0-20% for long-term capital gains. In the US, crypto-asset gains are calculated using two factors: your income bracket, and how long you have held the cryptocurrency.

    Pay your taxes - I cannot express enough how dangerous it is not to. It could take months or years to get caught, but you could suffer from liens, levies, or seizure of property. The IRS is not worth messing with, and U.S. exchanges are now cooperating with them.

    For volume over $20,000 or if you have over 200 transactions on an exchange, they should send you a Form 1099 at the end of the year. This means your cumulative income has been reported by the exchange to the IRS and your tax return will need to reflect detailed trading activity.

    Take note: The Wash Sale Rule still does not apply to cryptocurrencies, but that may change soon. This means you can legally sell to claim losses up to $3,000 on December 31 and then buy back in on January 1, as opposed to the 30-day rule in securities. This strategy is known as Tax-Loss Harvesting.

    The easy way to file: TurboTax + CoinTracker.io

    TurboTax has integrated with CoinTracker.io to make this easy-peasy. If you've made fewer than 25 transactions in 2021, CoinTracker has a free option. For up to 100 transactions, you'll have to pay $59, or $199 for up to 1000 transactions.

    CoinTracker can also directly connect to your accounts on popular exchanges, such as Coinbase, Gemini, Binance, KuCoin, HitBTC, Gate.io, Robinhood, Cash App, Uphold and more. It will download your trade history from each exchange and calculate any capital gains you've made from those trades. Optionally, you can upload a CSV file to CoinTracker from these exchanges (so you don't have to "link" the account using an API key if you are uncomfortable with it.)

    Once you have completed syncing your trade history with CT, you will need to connect it to your TurboTax account. TurboTax will generate a Schedule D and Form 8949 with your gains and losses.

    If you decide to do your own taxes and not use a service like TurboTax, you will need to download Schedule D and Form 8949 and complete these yourself.

    How to get your trading history:

    To manually generate CSV files without linking your exchange to CoinTracker, follow these instructions per exchange. Use a desktop or laptop - some of these features are not available on mobile.

    You can also use these documents to show proof of income with your bank or lenders in the event you need it for a loan application.

    Coinbase

    1. Log in to Coinbase on a computer.
    2. Click your profile icon in the top right corner.
    3. Click Reports.
    4. Scroll down to Transaction History, choose 2021 as the year (this will be available after Dec 31), and click the "Generate Report" button next to CSV report.

    Coinbase Pro

    1. Log in to Coinbase Pro on a computer.
    2. Click your profile icon in the top right corner.
    3. Click Statements.
    4. Click Generate->Account and set the start/end dates. Set the format to CSV.
    5. Click Generate Report and an email will be sent with a link to the CSV file.

    Binance.us

    1. Log in to Binance.us on a computer.
    2. In the top menu, click Orders->Trade History.
    3. Click "Export Trade History" on the right. You can only export 3 months at a time, so you may need to use custom date ranges 4 times to get the full year.

    Gemini

    1. Log in to Gemini.com on a computer.
    2. Click Account->Balances on the top right.
    3. Click the Download icon on the right, and either choose Tax documents (PDF) or History (XLSX)

    Kraken

    1. Log in to Kraken.com on a computer.
    2. Click History, then click Export.
    3. Change your Date Period to Year to date, Last Year or set a custom range, then click Submit.
    4. Wait a while (it took me over an hour in queue).

    Uphold

    1. Log in to Uphold.com on a computer.
    2. Click Activity on the right.
    3. Click the download icon at the top right of the transactions table, then click Transaction History. You will be prompted stating you will be sent an email with transaction history. Click the "Generate Report" button, then check your email.

    Cash App

    1. Log in to Cash.app on a computer.
    2. Click Statements at the top right.
    3. Click Export CSV. Cash App also has monthly statements, and they do not have the best options available for crypto trade history; they may show up alongside any other cash transactions you've made with the app.

    Gate.io

    1. Log in to Gate.io on a computer.
    2. At the top-right, click Order->Spot Orders.
    3. Click Trade History in the left column.
    4. Choose your date range and click the Filter button.
    5. Click the Download button at the top right.

    ​

    Other exchanges should also have a trade history available, but you may need to hunt it down. Hopefully, the above lists will cover most of our users.

    If I've missed anything here, please comment below and I will make changes as necessary so this post can reflect the appropriate information needed for upcoming 2021 tax returns.

    ​

    Edit: /u/starzychik01 pointed out some alternatives to TurboTax and CoinTracker. Using FreeTaxUSA.com and Koinly.io - I'll have to look in to these to investigate further.

    Also, if you are using a CPA, you will need to provide them your trade history. Your trades need to be entered in Form 8949. A 1099 only shows cumulative income and not each taxable event.

    Yes, you still have to report DEX trades. Obtaining the trade history will vary depending on which DEX you use.

    submitted by /u/supershwa
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    Next week the bullrun will continue!! Buckle up!

    Posted: 24 Nov 2021 12:51 PM PST

    We're seeing some dips this days, but crypto is just ramping up to its real parabolic run.

    Now that it stays stable around $57k, starting at next week we will be going to see massive price spikes.

    If you're not buying now, you will be regretting it. Remember the post-El-Salvador dip to $42k? People were fearful and were not buying, now we're sitting on $57k.

    At end of November, the bullrun will continue. It will be so huge, I cannot exactly say how much we will reach, but all I can say is that new ATHs will be reached at insane prices.

    I wish you all great fortune, luck and super profit!!

    submitted by /u/LisHere321
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    Why I don't think Crypto.com coin might end up having a big correction aka sell off

    Posted: 24 Nov 2021 08:47 AM PST

    Well, well, Crypto.com coin holders, we're flying for the last 2 weeks now, ain't we. I know some of you who might just join the fam are wondering when people are gonna sell of their stakes. I bet they won't. Here why:

    1. Most are aiming at higher tiers. Like myself, I'm a Jade Green holders. The moment it reaches to the point that I could upgrade my card to Ice White to enjoy private's benefits, I'll do it. And believe it or not, a lot are waiting for the same thing. Ruby to Jade, Jade to Icy, and Icy to Obsidian. Those Icy and Obsidian also enjoy extra earn bonus interests. For instance, 2% extra in Crypto.com coin if you stake USDC. So a lot of benefits for higher tiers, so people are just gonna stake for as highest tier as possible. And remember, when they stake now, those CRO are locked in 6 months.
    2. Those who got a very big bag like Obsidian. I know many who bought $400,000 for Obsidian at 10 cents (equal 4 millions tokens). They literally now enjoy the highest tiers plus a whopping $1200 in tokens every single day. Man, that's a lot of money. I don't think they are just gonna sell off anytime soon.

    Edit: adding about myself:

    I'm up like 10x since I bought to stake for Jade Green. Enjoy Spotify and Netflix cashback, which are 5-10x now. Man, it's insane. So, I'm not gonna sell off my stake, but wait to upgrade to Icy White for another free spot in Airport Lounge for my wife. Currently, only 1 guest for Jade Green. Plus, I'm gonna enjoy my Icy White benefits like 100% Amazon Prime, earn bonus interest, and more importantly the Private benefits exclusively for those who stake for Icy White, Rose Gold and Obsidian.

    Edit #2: I didn't say it won't dip. I said it might not end up having a big correction. I'm not naive to think that this coin will go up forever. Hell no. Eventually it will dip, which is natural and healthy. Do I suggest you to FOMO in now? No I won't. I suggest you guys (new investors) to look what they are doing, why CDC is different from others, then decide. If you ever decide to jump in, consider DCA.

    Cheers frens.

    submitted by /u/hoanglpr
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    The crypto trading hamster that outperformed the S&P 500 has died

    Posted: 24 Nov 2021 12:42 PM PST

    Market Cap should be one of if not the biggest factor to consider when looking for new coins to invest in.

    Posted: 24 Nov 2021 05:37 PM PST

    I'm sure what I'm about to say is nothing new for most people here, but for people who are just joining the space I wanted to make a quick post to discuss market cap.

    Too many times I've spoken to people who have seen the potential investing in crypto provides. I think it's very easy to get swept up in napkin math when investing in new coins and thinking "if I buy a hundred thousand coins at .005 and they go to one dollar I'll have one hundred thousand dollars."

    While the math adds up, you have to consider that in order for a coin to grow the market cap (coin amount outstanding x coin price) has to grow at the same rate. For a lot of these alt coins with hundreds of billions of coins in circulation this is a huge ask. Shiba was a great example of this: a lot of people thought shiba could reach $1 as doge did and plain and simply it could not. Total supply of shiba is 550 trillion coins so you would need a market cap of $550T to reach this price.

    Again, I'm sure none of this is new for most experienced investors here but newbies please take note. I like to look for coins with around $1-5B in market cap and a similarly sized total supply. This gives me a reasonable expectation of growth as well as a basic understanding of my price targets. This simple consideration has served me well on my crypto journey and I hope it can help you too!

    submitted by /u/ihopemyfriendslikeme
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    Have you told your family/friends that you own crypto, or are you keeping it a secret? Why?

    Posted: 24 Nov 2021 12:23 PM PST

    So a rule that I see here often posted is to never share the fact that you own cryptocurrency, and I sort of disagree with that. Certainly, there are reasons why you shouldn't tell everyone that you have cryptocurrency - you expose yourself to $5 wrench attacks, plus if anyone actually likes the idea of crypto and asks you more about it, and then they buy crypto asset, then you are risking that they will lose and blame you.

    On the other side you never know who else might be interested in cryptocurrencies too - perhaps a friend who you'd never think would be into crypto, they actually might be a huge crypto buff - you won't know unless you ask! So I told my closest friends, but otherwise I don't really share it publicly

    What's your approach?

    submitted by /u/Kellywasmyfirst
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    CRO and the bullish news and demand that is comming.

    Posted: 24 Nov 2021 02:10 PM PST

    CRO has recently pumped due to the marketing campaings and the release of the Cronos chain. However, CRO is also used to get the Crypto.com cards, as well as to reduce the fees on the exchange.

    ​

    On a summer AMA Crypto.com's CEO, Kris, stated that the exchange for USA customers (a proper exchange not the app) will come in Q4 of 2021. This will create demand for the coin, in order to get new cards, and fee discounts

    ​

    Well end of Q4 is approaching and the exchange isn't here yet. So when will it drop. Well my speculation is the 25th of december. That's the day they present Crypto.com Arena to the world (old Staples Center) and in a recent teaser/ad the runaway had a number 25.

    ​

    This is pure speculation but they have put easter eggs in their ads before and the date is in Q4 when they said they were releasing the exchange, and it coincides with the Crypto.com Arena ignauguration. Not FA but buy the rumour sell the news.

    TLDR: Crypto.com exchange probably comming in the 25th of December.

    submitted by /u/TheRealBabyJezus
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    Computer pioneer warns Metaverse will manipulate the public worse than any form of media

    Posted: 24 Nov 2021 12:36 PM PST

    So. I got hacked today.

    Posted: 24 Nov 2021 11:16 AM PST

    EDIT: I was scammed, not hacked, as someone has pointed out.

    I got hacked scammed today. It fucking sucks. Here's what happened - hopefully others will learn from my dumb ass mistakes.

    A week ago I moved some money into a defi protocol. Wonderland. While moving things around and connecting my wallet it seems I was the victim of a phishing scam and I allowed access to my wallet to a site I didn't recognize. I was already on a few sites that had connections to my wallet and assumed it was one of them asking for something. Apparently I clicked yes when my metamask asked for connection to another site. I had figured it was just one of the others that I was already on... traderjoe, wonderland and abracadabra. I also connected it to DeBank.

    This morning I found the funds were all gone and transferred to this wallet:

    0x34b58707e43904137ea1f8cd1d554571f650e8c2

    This person has been stealing funds from a lot of people it seems.

    Thankfully I only lost about 5k but it still hurts. That's a good chunk of my hard earned money and really all the throw away cash I had for defi experiments. It was clearly my fault.

    Security wise I do use random generated passwords stored in a bitwarden account. I have avast and have never had a virus / malware positive hit on my computer. I had multiple accounts on this metamask wallet but only one was looted leading me to the conclusion they did not have my passwords. I have since disconnected the wallets to all sites now. Unfortunately I panicked and disconnected them before I could identify which connection was the phishing attack. If anyone has info that could help me see what it was connected to when it happened I would be thankful for that.

    I have been aware of hardware wallets for basically forever and am a total fool for not getting and using one. I've ordered a Ledger Nano S to help keep me safe in the future.

    Please, learn this expensive lesson from me and not from your own wallet. Get a hardware ledger or use multisignature on your wallet. Keep an eye on all connections and remove them when they are no longer necessary.

    This fucking sucks. I'm so angry at myself. This is going to be a terrible thanksgiving.

    Anyway... rant over. I hope at least someone can learn from this and not have it happen to them. Any further advice I am happy to hear.

    Good luck out there...

    submitted by /u/mingkonng
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    Turns out, r/cc is the biggest FUD spreader of all! India FUD has filled the front page, all of which is objectively false

    Posted: 23 Nov 2021 10:33 PM PST

    No, for the 1000th time India is not banning crypto. Crackpot posters will post highly reactionary posts that will always make you think of the extreme possible scenarios. And this is not the first this is happening, earlier this year a guy made post saying that he sold all his holding because India is banning and criminalising. He though he was going to jail. It's been 6+ months and no such thing has happened.

    Step back and take a look at prominent Indian crypto figures on twitter like @NischalShetty (Founder of WazirX).

    Right now the latest news is that the crypto bill has been tabled for Winter session after a committee consisting of crypto leaders and bill makers and Financial minister talked extensively about how to proceed. Nischal was a part of this committee and has tweeted several updates regarding it.

    So ffs stop getting swayed by reactionary posts and look at the facts. INDIA IS NOT BANNING CRYPTO.

    submitted by /u/CarbonatedInsidious
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    The US Senate has NOT just requested information about Tether‘s backing by Dec 3rd

    Posted: 24 Nov 2021 01:06 AM PST

    A post on the hot page claims that the US Senate has requested information about Tether's backing by Dec 3rd. This is, at the very least, misleading and likely to induce FUD.

    Actual story:

    The US Senate a single member of the Senate, Sherrod Brown, sent a letter to Tether letters to all major stable coin issuers requesting specific information about their backing general information about each coins functionality. Mostly questions about the process of minting and redemption and its stability. Further, it isn't clear if the letter to Tether has even been sent yet.

    So if there's actually a crackdown on USDT incoming, it's a long way down the road from here. The wheels of justice churn slowly and this is nothing but an initial request to understand how stablecoins work in comparison to banks.

    Please do your own research, this took 2min of Googling.

    This is the letter (copy pasted because I can't put images in my posts):

    I write to request information regarding the Tether stablecoin. As documented in the recent report (Report) by the President's Working Group on Financial Markets (the PWG), stablecoins present investor protection risks and raise several market integrity concerns. Consumers' increased use of stablecoins, and their importance in effecting transactions in digital assets, underscores the need for greater understanding of the basic operation, and limitations, of Tether. As the PWG noted, the market capitalization of stablecoins issued by the largest stablecoin issuers exceeded $127 billion as of October 2021, reflecting an almost 500 percent increase over the prior year. The complex terms and conditions applicable to digital assets and stablecoins, as well as the need for reliable and resilient underlying networks, can make it difficult for investors and consumers to fully understand the details of how those assets function and their potential risks. I have significant concerns with the non-standardized terms applicable to redemption of particular stablecoins, how those terms differ from traditional assets, and how those terms may not be consistent across digital asset trading platforms. Even though stablecoins are typically "minted" in exchange for U.S. dollars, or other conventional currency, the purchase of stablecoins through a trading platform may not provide customers with the same rights and entitlements as a direct purchase from an issuer. In addition, customers may have different rights based on the amount of stablecoins owned or transacted. Furthermore, because the term stablecoin is used broadly, users may not appreciate the complexity and distinct features and terms of each stablecoin. Accordingly, given the importance of the specifics related to the use of Tether to investors and consumers, please respond to the questions below in clear, straightforward terms. I understand that any response would not affect or change the binding terms or conditions applicable to any particular customer or circumstance, but your ability to provide information that can clarify the basic operational features of Tether is critical to improve the understanding of digital assets.

    1. Please describe the basic purchase, exchange, or minting process[es] by which customers can acquire Tether for U.S. dollars. In your answer, explain any relevant limitations or qualifications to engaging in and completing that process.

    2. Please detail the process to redeem Tether and receive U.S. dollars. Here, also, identify any requirements or limits, including any minimum redemption size, waiting period, or qualifications.

    3. Since Tether's inception, how many Tether tokens have been issued, and how many have been redeemed? Over the last 12 months, what is the greatest percentage of the Tether in circulation at the beginning of a calendar week to be redeemed in the subsequent seven days?

    4. Briefly characterize the market or operational conditions that would prevent the purchase, or redemption, of Tether for U.S. dollars, or another digital asset. For purposes of answering this question, do not list or describe legal or regulatory limitations currently described in a user agreement or terms of service. For each condition identified, please provide at least one example that occurred in the past 12 months and its duration.

    5. Please identify any trading platforms that have enhanced capabilities, privileges, or special arrangements with respect to Tether, identifying those features and their basis (e.g., contractual or common control).

    6. Please summarize any internal reviews or studies your company has conducted about how specific levels of redemptions would affect Tether, including its convertibility into U.S. dollars, or would affect the financial position of your company.

    Please respond to the above by December 3. I appreciate your attention to this matter, and thank you for your timely cooperation.

    Sincerely, Sherrod Brown Chairman

    EDIT: Links

    Summary: https://www.theblockcrypto.com/amp/linked/125273/senate-banking-committee-chair-seeks-answers-on-stablecoins-from-centre-paxos-and-more

    Letter: https://www.banking.senate.gov/imo/media/doc/letter_to_tether.pdf

    submitted by /u/StreetBrain
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    Crypto is the reason I'll get to build myself house :)

    Posted: 24 Nov 2021 05:13 PM PST

    Crypto earned me enough of a down payment pre-Covid to buy a home, and I had begun the process of doing it. But the then the housing market when all crazy and I've had to wait. Turns out this was a blessing in disguise because I've saved up even more since then. Now I'll get to build my dream home from the ground up. I just want to thank all of you for the wisdom over the years. I never would have gotten in if it wasn't for you.

    PS I'm not pulling out of all my crypto investments. At this point I could never.

    PPS since people are asking I started investing in 2017 with quite a lot of different coins and made a lot from iota and nano. My portfolio is much simpler now in only btc, eth and lrc. Gives me peace of mind since I have more to lose.

    submitted by /u/GreyHadley
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    This browser game should not be worth 8.8 Billion $

    Posted: 24 Nov 2021 02:55 AM PST

    This browser game should not be worth 8.8 Billion $

    Any gamers here? I have a rant to make.

    Decentraland. Probably everyone here heard of it. And many also bought and sell MANA. But how many of you actually even visited the website? It is now worth 4.87$ a token, with over 8.8 billion market cap. Now, I know how hard it is to make a game, and the fact that market cap doesn't reflect a realistic value for a blockchain game.

    However, the game is utterly shit. It is a browser game to start with. In my 10 minutes of gameplay, there is one annoying background music playing on a loop. The graphics are of course bad as expected. I don't think they even bothered to properly texture some stuff.

    ​

    The character creating screen

    You have two shapes and a bunch of free stuff to use. I think you can buy NFTs (worth probably thousands!) as avatars, which is cool I guess.

    The Main Menu

    This is where you start. There are a bunch of places you can teleport and a gaping blue asshole in the middle.

    Emotes I guess

    Not much to talk about.

    The \"Casino\"

    At first I thought the "casino" was an empty shell. But it turns out there are invisible desks I can't interact with. Not sure if these didn't load in my computer or something else happened. I think there are like 3 casinos on the map.

    Mining Minigame

    I have no idea how this works since I am on a guest account. You can pay 10 mana and buy 100 coins on a stand you can accidentally left click too.

    Decentraland in its core is a glorified casino game which was heavily influenced by second life. I don't think any adult who buys and sells thousands would legitimately play this game. The bubble is expanding as I write this post. What do you think, fellow cryptocurrency members?

    submitted by /u/xadiant
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    Jack and Jay-Z will give 500 Bitcoin to fund Bitcoin development in Africa and India. They are in the final stages of selecting 3 board members to lead it.

    Posted: 24 Nov 2021 05:47 PM PST

    I just realized the answer to my quest for building a crypto portfolio without start up money has been in front of me this whole time. It's fucking moons.

    Posted: 24 Nov 2021 05:09 PM PST

    I'm new to crypto. Very new. I always thought blockchain technology was yet another thing I had missed out on, would never understand, and would probably lose money on if I tried it

    "NFTs has entered the chat!"

    Next it was these fucking things. Sorry but people spending 20 mil on a few pixels made even less sense to me. But there is apparently endless money to be made in both of these areas right now so I started looking into it

    I was instantly blocked from both of these avenues because I wasn't willing to spend actual money I had scraped together on something I didn't understand such as gas fees. So I looked at play to win games, mining coins with my mid range gaming laptop, staking those coins (which I still don't know how to do), etc.

    Then it fucking dawned on me.

    Moons are going for anywhere from 15-20 cents a pop right now and I'm seeing user after user casually commenting "ALGO" (whatever that means) and walking away with like 500 moons after the next distribution. Some quick mafs told me that little comment was worth like $50-100 USD and cost them NOTHING.

    I got my moons vault a few months ago. First crypto wallet I ever had actually. And some legend was kind enough to give away 5 moons to people who didn't have any. I figured maybe I'd sit on those 5 moons (now I have 12 I think from a comment or two during my 6+ months of lurking) in case they ever blew up but holy sweet baby Jesus have I been missing out.

    I still refuse to contribute to the degradation of this sub by spamming random bullish comments or "ALGO" on every new post that comes up, but this is where the money is going to be made.

    My next strategy to get rich quick is to learn about crypto, really understand it to the point where I can be a contributing member of this community, and just watch the free money come pouring in.

    No idea why this took me so long to figure out but in case you're reading this and are in the same boat I encourage you to do the same. There are more than enough moons to go around so dig deep, avoid the spammy bullshit that you hope will blow up and turn into a few hundred moons, and start contributing to this paradigm shift that we are lucky enough to be in on ahead of 98% of the rest of the population. Because make no mistake, this is earth shattering stuff.

    That's my plan anyway. See you all soon.

    submitted by /u/DrBrocktopus8
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    HODL!! 11.24 Crypto Market Update and Investing Report

    Posted: 24 Nov 2021 03:46 PM PST

    HODL!! 11.24 Crypto Market Update and Investing Report

    Overview

    · Market Update

    · Insight: Awaiting tomorrow's expirations

    · Deep Dive: Velas (VLX)

    · Trade set-up: Audius (AUDIO)

    · Major Market News

    · NOOBIE lesson of the day: Satoshi Nakamoto

    ​

    Market Update

    • · Bitcoin (BTC) begins to consolidate around the 56.5k area in anticipation of the large Nov 25 futures expiration.
    • · Bitcoin Dominance (BTC.D) is up 1% as the traders return to BTC in anticipation of a possible volatile expiry.
    • · Total Market Cap (TOTAL) continues to hover around 2.5T
    • · Major layer one alts are having a strong down day Sol -9%, LUNA -10%, DOT – 6%, AVAX -8%, ADA -8%. Fantom (FTM) is breaking the mold and is up +9%
    • · Metaverse and Gaming protocols continue a very strong upwards trend. Sand +42%, Gala +37%, Mana +32, UFO +23
    • · Play-to-Earn category is up 99% today. Gaming is up 20%, and metaverse is up 20%.

    ​

    Insight

    Bitcoin has found a support around the 56k area and is showing signs of consolidation. Tomorrow will decide the fate of BTC direction.

    In what many predicted was a dip to shake out leveraged positions is proving difficult. Volume in long positions has increased significantly in the Dec 09 and Dec 30 expirations since yesterday, as leveraged traders quickly position themselves for a large correction. This is mixed sentiment because the market will try to wipe out leverage during expirations.

    ​

    https://preview.redd.it/uw3z5cb0qm181.png?width=542&format=png&auto=webp&s=71badf265a5913d5ae30470cc434c6bc96c29e3d

    There are many bullish metrics when it comes to on-chain analysis. Outflows out of exchanges continue to be larger than inflows. Stable coin supply ratio continues to fall. Miner outflow continues to stay significantly low.

    One metric that requires attention is All Exchange Whale ratio, which has spiked up to .65% from .35%. This can mean three things, that whales are preparing to sell, entering leveraged positions, or entering alts. We have seen a large increase in options volume and some alts have been on strong runs so data may be indicating the latter two are true.

    Ultimately the market will decide what bitcoin does, and we must remember that the rest of the market is closely tied with the fate of bitcoin. The metrics are slightly more mixed than yesterday but still leaning bullish. Tomorrow and the weekend will be the big indicators of which direction the market decides to go. People may spend Black Friday shopping for crypto.

    ​

    Deep Dive: Velas (VLX)

    Market Cap: 932m

    Coin Rank: #115

    Velas (VLX) is a state of the art open-sourced blockchain platform that is primarily focused on designing user-friendly interfaces. The project is based out of Switzerland and is led by Alex Alexandrov. The team is composed of experienced engineers, mathematicians, and blockchain experts. The base-layer of Velas is a Solana fork that the team upgraded to meet a list of standards that included 50k transactions per second, near-zero transaction fees, and a finality of less than a second. To meet these rigorous demands, they designed a unique system of consensus they named AIDPoS, utilizing Proof of Stake and adding AI to improvement functionality. Velas is simply fast, efficient, and nearly zero-cost to use.

    One of the aspects that separated Velas from Solana, is the ability for Ethereum developers to easily create on the platform. The platform allows for the deployment of EVM dApps. To further improve on Solana, they designed their platform to be seamless across all protocols on the blockchain. This will allow a user to have one account for all protocols without constant hassles of reconnecting wallets or approving every protocol before use. With these upgrades, Velas is implementing the early stages of Web 3.0, another of its main focuses.

    Velas has been very busy under the hood with close to 7k developer commits in the past year and over 1k in the past month. To give you an idea, the industry average is close to 1000 commits a year. They recently released a DEX named Wagyuswap, which looks like a Pancake Swap fork. They also released a decentralized social platform focused on usability, privacy, and monetization for the user named Bitorbit. Just like Velas, neither project has garnered much attention.

    Their documentation mentions decentralization various times. I hope that remains one of their priorities, but currently they are only running 50 nodes and 42 validators. This is common for the beginning stages of growth in a blockchain, and I would assume that as the network grows, so would the nodes/validators. Only time will tell.

    Oddly enough, they are also partnered with Solana in addition to a few other large firms. They recently had a $100 million incentive programs for developers, but it will probably take a few months to see the full affects of the program.

    Every aspect of Velas looks impressive. From the technology, website, white paper, ideals and even their social media. They have combined a large team of professionals to embark on a common goal and it shows. I personally like what I see. The only major issue I have is the lack of volume in trading (8-10m). The low volume is caused by lack of major adoption of the network. Since they have some important partners, I hope this improves over time. It is a great project with large upward potential that is currently lacking adoption. I do not see it catching up to similarly valued projects like EOS, ICON or ONE in the short term. It will likely grow with the market as a whole, but not outperform widely adopted projects around similar price points. Velas overall is a recommended buy that will probably end up in the top 25-50 coins in the long run but monitoring for the correct time to buy is recommended.

    ​

    https://preview.redd.it/frg8wr74qm181.png?width=848&format=png&auto=webp&s=924b4da24a760254043e842498e5b2b233e8b8d3

    Trade set-up: Audius (AUDIO)

    I was not planning on having a trade-set up today but this one is just too nice not to share. Audius is a decentralized version of Spotify. The timing for this set-up is perfect because yesterday a startup named Royal banked a $55M investment from a16z, a premiere crypto VC firm. The news will bring attention to the music NFT space just in time for a long-awaited breakout in AUDIO price.

    AUDIO 1D Chart

    ​

    Audio has been consolidated in a pennant since hitting its high on March 25th. There are signs of increasing volume and a failed break-out yesterday. If the overall market rebounds in the next few days, watch AUDIOUS closely for a major break-out to the topside. I wouldn't be surprised if related news precedes the breakout. The breakout here will most likely send AUDIO into all time highs and further as this token has been lagging despite attention to Web 3.0 ramping up. Be sure to place a stop-loss and cancel the trade if the entire market starts descending.

    ​

    Major Market News

    • · Crypto prices in India took a strong hit yesterday with news that the government was discussing a bill to ban all private crypto. The selling was a mass panic in what was a misunderstanding of the bill's interpretation of privacy.
    • · More than 1 million Ethereum has been burned since the EIP-1559 upgrade. Watch the Burn here.
    • · 'NFT' named the top word of the year but dictionary publisher Collins as interest in NFTs exploded in 2021.
    • · Cardano (ADA) took a hit yesterday following a delisting of the token on eToro due to regulatory concerns. ADA continues a downtrend that began after smart contract implementation began on in late August.
    • · "Bitcoin challenges your authority." Salvadorian Ambassador communicates to the US.
    • · Coinbase acquires crypto wallet startup BRD.

    ​

    Notable Events

    · $5m worth of Venus (XVS) will be bought back and burned beginning today and lasting a week.

    · Second Polkadot Parachain auction has concluded today. Moonbeam is the winner. Contributors will receive 2.5 GLMR for every 1 DOT.

    NOOBIES lesson of the day: Bitcoin History pt.2

    Quick history of Satoshi Nakamoto

    Click here to read pt.1.

    Satoshi Nakamoto was the name used by the person/s who developed Bitcoin and wrote the famous Bitcoin Whitepaper. He began work on Bitcoin in 2007 and went public in 2009 with the release of Bitcoin.org. Satoshi began speaking to leading members of the cypherpunk community to gather feedback on the project. Satoshi worked in the background as a handful of people began taking interest in the project, and small communities began to emerge.

    Communications with Satoshi picked up as leading cypherpunks, engineers, and computer scientists began aiding in the Bitcoin project. No one really knew the identity of Satoshi. Some evidence pointed toward him or a member of the team being of English descent. He used words such as "Bloody" and preferred to work during GMT.

    In 2010, the new internet money named bitcoin took on value. Two pizzas were purchased from Papa Johns for 10k Bitcoins. In today's price, that would be $515m worth of bitcoin.

    In April 2011, Satoshi handed control of Bitcoin and the website to core developer Gavin Andresen. From that point, Satoshi began to back away from the project and eventually disappeared completely. He has since been heard from. Below is his last posted message. It is estimated that Satoshi's BTC address contains an estimated 500-600k BTC.

    ​

    https://preview.redd.it/qqrotgooqm181.png?width=624&format=png&auto=webp&s=dd577cca08f8adc1e7d83df76051a38ad55f4d2e

    Tomorrow

    · Turkey

    · Stuffing

    · Naps

    · Pecan pie

    ​

    ​

    Thanks for reading fam! Enjoy the holiday tomorrow and get some rest for an exciting Black Friday. Sorry I couldn't get to everyone's messages yesterday!

    ​

    - Gabi

    ​

    https://preview.redd.it/vgl0ff9vqm181.png?width=37&format=png&auto=webp&s=7ff58717920e6e5d42950dbdaaee52ba27389d1c

    Disclaimer: I am not a financial advisor, take all actions at your own risk. And please do your own research before partaking in crypto.

    submitted by /u/HummusHHound
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    Opinion-You should talk to everyone about crypto.

    Posted: 24 Nov 2021 04:35 PM PST

    I understand that there are a lot of people on this sub that think it isn't a good idea talking to family and friends about crypto. That it may cause conflict or skepticism. I believe that the opposite is true. I have talked to several of my co workers recently that are interested in investing money. That there is no way for them to save up unless they put money in the stock market or start a ira. The second I mention crypto they shake their heads and say something like " too volatile" or " I don't even understand how to get started". This is where our responsibility comes into play. Just as we would help people here on this sun we should be engaging those that are reluctant or unsure about cryptocurrency. Now I'm not saying that going into great detail and telling them a meme coin is going to be the next best thing. I'm talking about giving someone simple instructions to start an account on a crypto exchange say they can get use to the idea. I don't even mention hard wallets because that just discourage them. The most important step is to see what the exchanges have to offer and let them decide. I mention a few projects that are a good long term investment and tell them they can ask me questions anytime. Now yes, I have had some people tell me that I'm crazy and throwing I'm throwing money away and I'm cool with that. If they don't want to invest that's their decision. I feel the more people that are aware and realize how easy it it to start investing the better for the whole crypto community even if not everyone is willing to act on it.

    submitted by /u/Quiet-Fitz
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    As an underpayed 21 year worker from Latin America while I study, crypto changed my life and my finance

    Posted: 24 Nov 2021 09:37 AM PST

    While I study I've worked and moved with my parents so I can save more.

    I make about 5 dollars an hour so I don't really make that much, since the pandemic started I've grinded my ass off working Overtime to make as much money possible. Bought myself a ledger and EVERY single penny I've made… I've invested.

    I managed to buy one ETH back when it dropped at 1800 a few months ago, DCA'd Bitcoin at 28k and let it ride and for the first time I got out at the top, passed to USDT all of my crypto and what a clutch decision that was.

    Now I got EXTREMELY lucky cause as much as grateful as I was for 2-3x in my capital I wanted more and I knew if I reinvested in BTC and ETH I wasn't going to make more than 10-20% over what I had, so I took 2 weeks to analyze new projects and new opportunities for higher gains and this is where it gets crazy…

    One dude said in here to invest in loopring, took a look at the project I liked it and YOLO'ed the shit out of my capital I doubled my capital in 3 days;

    Then I did the same shit I invested in decentraland all of my funds and profits and did a 200% with MANA

    Took my profits again, invested in Sand box because an ad made me curious about it and another 250% gain

    Now I don't know why literally 4 days ago my dumb ass thought you had to buy CRO to apply for a card in crypto.com so I bought enough to get me the indigo, and just before I staked I realized it's not supported in my country, but I left it there and now I'm almost 100% up.

    Idk whose watching out for me, all my life I've had the worst luck ever, now I'm able to finish college without my dads paying for it and I finally got a job that pays me well and I can invest and live well off of my salary, thank you guys cause y'all were a good part of this.

    My new insanely 10Xed capital will go all to ETH AND BTC and I plan in investing in new metaverse cryptos with my DCA salary, cause I haven't won the game yet, profits are made in low cap real use startups, and you distribute the profits for wealth protection.

    Peace, stay safe and I love you!

    submitted by /u/Edgarjosue1
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    The US Senate has just requested information on tether’s backing by DECEMBER 3

    Posted: 23 Nov 2021 04:54 PM PST

    If you go on Twitter you can see the letter from the US Senate representatives yourselves. It doesn't look great to be honest. They want to obviously know how it's backed and if it's truly backed which is the million dollar question. The senate wants answers to the questions asked in the letter by December 3. I also find it odd that Coinbase is having issues almost at the exact time this was announced. Nobody knows what's going to happen but buckle up because it's about to get bumpy. I hope we get some answers because this has been going on too long

    submitted by /u/yankees051693
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