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    Cryptocurrency State of the MOONion: r/CryptoCurrency Subreddit Events and News!

    Cryptocurrency State of the MOONion: r/CryptoCurrency Subreddit Events and News!


    State of the MOONion: r/CryptoCurrency Subreddit Events and News!

    Posted: 05 Nov 2021 07:57 AM PDT

    Daily Discussion - November 6, 2021 (GMT+0)

    Posted: 05 Nov 2021 05:00 PM PDT

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.


    Disclaimer:

    Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.


    Rules:

    • 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 The prior exemption for karma and age requirements is no longer in effect.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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    I experienced my first rug pull today, please be careful. Invest wisely

    Posted: 05 Nov 2021 03:51 PM PDT

    Last night I heard about a launch on a new coin, "crypto hippies". A lot of tiktokers were promoting it, it had a really well made website, all social media platform, telegram etc.. so it seemed promising to me. I decided to set an alarm for 9:00 AM which was the launch time. And I decided to invest a little over $3,000 into it. My hope was if I get in early I can possibly 5-10x my money and get out. Purchased the coin and watched the buy and sell orders fly in. Then, a massive amount of buys and ZERO sells. I didn't think much of it but I go and shower for work and I come out and it goes from .07 to .0001. They dumped everything, no one was able to sell. The developers cashed out and I lost everything. I honestly am at a point in my life where my job is making me so depressed so like a lot of people I'm looking for a get rich quick method, and meme coins seem to be what the hype is all about now. But because of my irrational decisions and not enough research I am now down $3,000. Which isn't a lot to most people but this was pretty much all of my savings. I know that's a stupid decision to make but it made sense to me and I'm just doing my part and warning people to always do research and be cautious and never invest money you can't loose. I am loosing my mind over this honestly, I can't focus at work I can't eat, and I probably won't sleep. But lessons aren't free in life. And I hope this can help someone out there before they make the same mistake I did. Take care!

    submitted by /u/themusicdude11
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    I will probably never find a coin that will go x100

    Posted: 06 Nov 2021 01:50 AM PDT

    We all love listening to these stories when people invested $50-$100 and got a lot of money.

    Well, those stories are rare and we as humans easily believe what we like to believe. That is why we don't pay attention to the people who lost a lot of their money by investing in some "hidden gem".

    We don't like hearing those stories. We avoid them.

    And I probably will never find such a coin. I don't know how people do it honestly, maybe it is just pure luck. There is a a lot of projects that have such a great ideas and technologies but yet they are left behind.

    And even if I find it, I would probably sell most of it before it goes "to the moon".

    submitted by /u/UnexperiencedIT
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    If the biggest worry you have in life is what altcoin to buy next or that you missed o a 5 or 10x, you are not doing too badly in life... trust me, reality check!

    Posted: 06 Nov 2021 02:45 AM PDT

    Hi guys,

    I just wanted to write this hat how grateful and what a huge privilege is it to even have money to participate in the crypto market. We tend to forget this often and a reality check is needed ..It causes us to become very dillusioned when we start comparing to everyone and seeing everyone is getting rich, everyone except for you. Don't compare yourself to anyone, its one of the largest causes of unhappiness, focus on your own respective journeys!!

    Enjoy the process! I am so happy to see each one of you in this community and wish each one of you nothing more than success and happiness!!

    submitted by /u/Mattelambo
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    This sub feels less like group of investors debating over tech and more like drunk gamblers throwing money on horse races.

    Posted: 05 Nov 2021 05:27 AM PDT

    It's not a rant, Im just really confused how things change so quickly.
    There was a time when people here focused more on the King, on the fundamentals, people discussed serious projects, innovations and different use cases of crypto and adoption.
    People used to form their own opinions from reading up on projects, not braindead parroting what they glanced over scrolling through an article or read in a one-liner here.

    Nowadays everybody's got their focus on that one overhyped coin that's going to a 100x by the end of the year. Nobody's even read the whitepaper on it, but hey, so much hype, it's gotta be the next moonshot!
    And when it ''does a Squid'' newcomers get burned hard and leave the market for good.
    I get it's survival of the fittest, but this shilling doesn't help with Adoption, does it?

    When was the last time you saw a discussion on the King?2-3x by the end of market cycle? Heell no, that's not enough, we want 10x in a month!
    Nobody is happy with 3-5x in 6 months, people want quick gains over night and that's it.
    Right now, stop any pedestrian on the street and ask them if they want 2x on their money in 3 months. About 95% would think that's too good to be true and in the normal world it is too good to be true.

    It really feels like a group of drunks walked in a Vegas casino trying to choose the one winning slot machine out of a thousand slot machines.
    Crypto does change things, sadly not always in a positive way.

    submitted by /u/Spreizbacken
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    Crypto is not as user or beginner-friendly as you think

    Posted: 05 Nov 2021 11:20 PM PDT

    When you interact with newbies and try to walk them through their first crypto purchase, setting up a wallet, and DeFi stuff like staking, farming, or lending of crypto, you'll discover that crypto is not beginner-friendly at all.

    There are just too many steps and processes. And if you want to be anonymous and protect your privacy, it gets even more complicated.

    For example, think of all the steps involved in the following...

    1. Buying your first crypto on any platform or exchange
    2. Moving it to your own wallet
    3. Staking, farming, providing liquidity with it
    4. Withdrawing and cashing out your rewards or original funds to fiat

    For us experienced users who've been doing it for much longer, the processes can seem simple and easy, but certainly not for beginners.

    There's still a long road for crypto to be easy to access and use by the regular joe and for us to reach the much-coveted mass adoption.

    So the next time you see a beginner who seems to be doing things sluggishly, be kind and give them proper guidance.

    submitted by /u/CryptoSorted
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    6 months ago, a user vowed to do the exact opposite of this sub’s financial advice. He said he would post the result but hasn’t. I do an experiment and see how things would go. Results today: he is currently down 20%. Had he done as per this sub’s advice, he would have been up 25%.

    Posted: 05 Nov 2021 05:03 PM PDT

    6 months ago, I remember reading a post from an user who wrote:

    "I'm going to conduct a test with $1000. I'm going to do the opposite of whatever the majority of /r/cryptocurrency is saying to do.

    If they say not to invest in XRP, I'll invest in XRP. No way any of this is going into ALGO, VeChain, BTC, or ETH.

    I'm operating on the premise that reddit will almost always get it wrong. This will either prove or disprove that premise.

    I will only be buying coins that are commonly shitted on in this subreddit. Will post results."

    I'm curious and try to do an experiment from his vow.

    In a comment on the same day, OP said he would buy $500 DOGE, $250 TRX and $250 XRP.

    His DOGE-TRX-XRP portfolio:

    Coins Start value 18/04/2021 05/11/2021 Today value Gain or Loss %
    DOGE $500.00 0.3205 0.2611 $407.33 -18.53%
    TRX $250.00 0.1429 0.1037 $181.42 -27.43%
    XRP $250.00 1.41 1.16 $205.67 -17.73%
    Total $1,000.00 $794.43 -20.56%​

    This sub's most loved: BTC-ETH-VET-ALGO portfolio

    Coins Start value 18/04/2021 05/11/2021 Today value Gain or Loss %
    BTC $250.00 56216.19 61080.29 $271.63 8.65%
    ETH $250.00 2237.14 4486.99 $501.42 100.57%
    ALGO $250.00 1.45 1.85 $318.97 27.59%
    VET $250.00 0.2546 0.1597 $156.81 -37.27%
    Total $1,000.00 $1,248.83 24.88%​

    So on this part, if it happens exactly like this, he is wrong.

    Caveat:

    • Time can change anything, however. If Ripple does win the lawsuit, the picture would be different. However, as of today, ALGO, Bitcoin and Ethereum returns are better.

    • A lot of luck would be needed when purchasing some meme coins that later shoot up to the moon.

    Disclaimer:

    We still don't know shit about fuck. Take everything with a grain of salt.

    submitted by /u/milonuttigrain
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    Facebook verified a Bitcoin scammer pretending to be Elon Musk

    Posted: 05 Nov 2021 06:00 PM PDT

    In 2013 a college student held up a sign that said "hi mom send bitcoin" at a college game day taping, he received 22.4 bitcoins.

    Posted: 06 Nov 2021 12:48 AM PDT

    I think this is a point where the market is looking a bit sketchy.

    Posted: 06 Nov 2021 02:54 AM PDT

    I apologise for trying to slow down the hopium train guys but to be honest i am getting a feeling that at this point in the market where we are standing, it looks like already a high has been achieved and now a huge sell off may or may not occur. Points to consider:- 1. Bitcoin made a high of 67k 2. Ethereum and Altcoins going crazy(5x, 10x, 50x). 3. Meme coins pumping way too hard which means the retail money is getting in. 4. Big time rug pulls like Squid game and what not. 5. Banks and institutions saying BTC will touch 135k and ETH will go above 10k in Q4.

    Now i understand that the youtube shillers are still way too optimistic and they keep saying BTC will goto 100k before December and a big Altcoin rally will follow. I also understand that no one wants to see their profits turn into loss in a span of few days.

    So what do you think? Is it a good time to cash out 50% of my crypto and then sit back and watch the rollercoaster go crazy or should i wait till December?

    submitted by /u/Battledrone1v1
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    I you want to gamble into random shitcoin put 10$ into it, not half of your life savings.

    Posted: 06 Nov 2021 03:26 AM PDT

    I will never understand why some people put few k $ or even much more in some random shitcoin. Some of them even go all in one coin and ignore everything else, cause they think it will make them multimilionaires. It is terrible idea to do it. I am risking 10/20$ if I gamble on shitcoins or memecoins ( also not more than 10% of my portfolio). I like it, cause at worst case I lose 10/20$ and at best I will find next x100 or x1000 coin. I would never put everything in it, like unfortunately many people do. If you have few k$ or more then invest in safe coins, divide it into BTC, ETH and some altcoins. At least you do not risk they will be rug pulled or go down -99%.

    I think those people wake up one day, accidentaly read about some shitcoin in the internet and decide it is good to put everything they have into it. And later they act suprised if coin is scam, rugpull or just go down like most coins do. Sometimes of course it work. But either oerson that put few k are milionaires, so they do not risk much or they had dumb luck. Many people YOLO their homes or lifesavings into shiba over last few months. They are rich as hell now, but it doesn't change that they acted like gambling addicts or idiots. For every dumb luck milionaire is hundred dumb people that lost everything. And no, no one in crypto will feel any empathy if you will do anything like that. We saw it too many times. It is natural selection. If you are bad investor or have no experience you should learn more, not put more money. It should be obvious for anyone.

    I understand sometimes we are curious about some coin or have good feelings about it without any reason. Doing this instead of proper DYOR is bad strategy in crypto, but if you really want to check what will happen invest 10/20$. In worst case you will learn a lesson to never listen to hour feelings when you invest. Or you will be lucky. If you will be lucky it doesn't mean you should put more money into it. No one know future, everyone would be rich if we could predict future profits.

    submitted by /u/Nuewim
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    Has anyone heard of Loopring (LRC)? I haven’t heard anyone mention it before

    Posted: 05 Nov 2021 10:09 AM PDT

    It's apparently owned by Mark Zuckerberg, The Rock, and Obama. I'm not sure on the details because there's really not much information on it and no one is talking about it, but it is supposed to be able to teleport people through the blockchain like in Star Trek without any gas fees

    I read the white paper and I really believe in the tech. I'm hearing they've also got some really neat time travel projects on the go. Not to mention every Facebook user will get a free Loopring bandana or keychain (while supplies last)

    The market cap is only $10,000 right now and the dev team is fully doxed. They're also the same people who created the original Palm Pilot and were instrumental in the development of the new Root Beer flavour of Pop Tarts. I'm not kidding when I say I think it could 1000x time easily by the end of December.

    Of course, as with anything, DYOR. But I'm shocked not a single person is talking about this revolutionary coin.

    submitted by /u/CuntyMcGiggles
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    Cardano is coasting into an iceberg, the crew are starting to see it, but no one wants to startle the passengers by preparing the lifeboats.

    Posted: 05 Nov 2021 01:14 PM PDT

    Sundaeswap swap has recently released their work around for the fact that UTXO currently cannot run a permissionless, decentralized AMM DEX (like Uniswap). Items of note:

    -the Sundaeswap team determined that the entire Cardano chain, without any other dApps competing for resources, will have slower PEAK tx speeds than half the AVERAGE tx rate used by one dApp on ethereum. They compared cardano's peak to the average rate on Uniswap v3 (but didn't count v2). Cardano will have options to speed that up in the future, but they are not ready yet (see second link below). And even then, cardano will still be slower than ETH, the slowest layer one chain that anyone has ever heard of. [See u/grimmergrimmergrime 's comment for an estimate of v2's speed: https://www.reddit.com/r/CryptoCurrency/comments/qnjmby/cardano_is_coasting_into_an_iceberg_the_crew_are/hjhhfz5?utm_medium=android_app&utm_source=share&context=3 ]

    -They accurately explain why all the other proposed solutions create vulnerabilities, weaknesses, market inefficiency, attack vectors and centralization that Uniswap type AMMs do not have

    -They propose to add a novel, gated and "trusted" application-specific proof of stake layer with untested incentives (and untestable due to the lack of direct fee incentives on a testnet). They have determined that the best way to avoid the UTXO concurrency dilemma is to appoint third party aggregators to execute all of the orders, and "[t]he first step is choosing trusted members of the community to run them." So much for having the most decentralized chain.

    -They rate every solution to this problem, including their own, as requiring more development work and creating more "surface area [that] needs to be audited" than Uniswap. So much for the advantage of UTXO being easier to audit.

    :https://sundaeswap-finance.medium.com/sundaeswap-labs-presents-the-scooper-model-678d6054318d

    Meanwhile, Cardano devs are finally getting serious about starting the public conversation around why txs fees are necessary to avoid catastrophic network congestion, why cardano needs decentralized development, and the mistake of not having a longterm roadmap and pursuing layer 2 solutions sooner:

    https://m.youtube.com/watch?v=3dc6zG9EjWE

    submitted by /u/Awhodothey
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    Reddit Plans To Onboard 500 Million Users To Web3 Via Ethereum's Arbitrum - Bullish on Moons

    Posted: 06 Nov 2021 02:01 AM PDT

    Sometimes you need to sell at a loss, and put that money into something else. The opportunity costs of holding a dead bag

    Posted: 05 Nov 2021 12:05 PM PDT

    Preface: There are coins you should hold because they bounce right back, even after dipping hard. Having said that...

    It seems that there's a very heavy push into "you don't lose if you don't sell". I've seen this line of thinking much more than "cut your losses and move on to something else."

    If you don't consider the consequences, you lose the opportunity to reinvest into another coin that can ultimately shoot so high that it offsets your initial loss.

    I'm very surprised to hear when crypto investors don't consider opportunity cost. The other day I had short discussion where someone said they have been holding to an investment for 7 months now. They have had money sitting there doing almost nothing for them.

    If they had put some of that money somewhere else, they would be making money

    submitted by /u/GelDel12
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    How to tell if a new coin is a shitcoin in a few seconds

    Posted: 05 Nov 2021 07:40 PM PDT

    Step 1: visit new shitAlt's website

    Step 2: read the description of what it does.

    Ask yourself, "Are these terms confusing?"

    Answer: Yes

    Congratulations, you found a shitcoin.

    Shitcoins love using confusing words, and terms to make you think only their coin can do what it does.

    That's how most of them operate.

    Welcome to...

    EffYouCoin . io

    Distributing global self-learning AI packet protocol signatures for seamless verification networks that would allow investors to connect in real time to open equity firms.....

    it's a shitcoin is what they are telling you.

    End of research. Move on to the next alt.

    submitted by /u/Some1fromReddit
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    The Different Types Of Crypto You Should Know (For beginners)

    Posted: 05 Nov 2021 07:30 PM PDT

    Types of Crypto

    • Storage of value - A way of storing value in a currency with large volume and market capacity to facilitate growth of the currency.
    • Smart Contracts - A self executing set of parameters that trigger when an action is performed. When said action is performed the smart contract triggers, and verifies the transaction on the blockchain and rewards the action. Example, Coin 1 will distribute 50% of initial supply Via "wager mining" for every 1$ in Crypto wagered on Corresponding partners, Coin 1 will distribute 0.07COIN1 of said Crypto into the Associated Wallet.
    • Oracles - Oracle Cryptos are Cryptocurrencies with a real world tie-in, Allowing for developers to add in real world data that have an effect on the Smart contracts executed. For example, Non-existent Crypto GREENCOIN will reward holders or small businesses with a token if regional/national carbon emissions decrease and perform a different action if emissions increase, this data is imputed by a singular source of truthful data. This data can also be pulled from the real world, like a program grabbing the real time price of eth to usd when you need to cash out or pay for something.
    • Payment Method Cryptocurrency - These are Cryptos created to replace the conventional ways of payment and transactions we usually have, these currencies have very fast transaction speeds and incredibly small to no transaction fee. Included in this category are Bitcoin Cash, Litecoin, and Dashcoin.
    • Privacy Coins - Coins meant to be as anonymous as possible, while it's easy to track who could possibly be holding the coin if you're using an exchange with KYC, if you move it off exchange it will be harder to trace. (Monero, Zcash.)
    • Memecoins - Coins with little-no functionality often minted purely relying on speculation and Hype to achieve gains in the crypto space. (Dogecoin, Shiba Inu,)
    • Exchange Coins - Exchange coins are Minted and rewarded to users of an exchange, Usually by means of Yield/Liquidity Staking. (UNISWAP, CAKE, Crypto.com Coin, Binance BEP-20 "BNB".)
    • Stablecoins - Stable Coins are a great way of storing value as the mission of these coins is to stay with a price equivalent of 1$USD, other uses for these coins include storing your coins in the case of price dip or using them to move money between exchanges.

    Please feel free to correct me in the comments if I got something wrong.

    submitted by /u/604pleb
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    Do people know you as "The guy who invests in Crypto"?

    Posted: 06 Nov 2021 03:50 AM PDT

    Unless you work in a crypto exchange or ended up on national news because the Bitcoins you mined in 2011 have made you a millionaire now, Crypto shouldn't be the first question people ask you about when you meet them. Nor is it good that people only send you meme about crypto because they know you invest in it.

    You could put yourself in a situation where people FOMOing into crypto will ask for your advice and you already know how that can turn out.

    You could even put your own security at risk by leading people to believe you're rich just because invest in crypto even though you don't anything significant because of your leverage trading addiction.

    submitted by /u/AbsolutBadLad
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    How many of you going to attempt to time the market to exit or hodl?

    Posted: 05 Nov 2021 10:40 PM PDT

    So i was wondering. Most here have seen a fair share of crypto storms and sunshine through the decade.

    So after all this, how many of you veterans are going to time the market for an exit?

    Or most here are hodlers that set a goal for 5/10 years and moving a muscle?

    I personally will try and exit the market as perfectly as i can for a later dca.

    This question started bugging me, how alone am i on this? Did the majority already pull out initial investment? Will they hodl? Will they time an exit? Are they maybe still investigating for the near future exit?

    There is no need to go into specific or details of your plan but i would like to please my curiosity.

    submitted by /u/ParaplegicOctopus
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    I don't care paying crypto taxes: in my country there's free healthcare and higher education for everyone. Not all the countries are like 'Murica.

    Posted: 05 Nov 2021 07:47 AM PDT

    I've seen people from the slums entering college because they didn't have to pay. Free technical books rentals at uni's libraries, free housing for the poorest students that come from other cities (have to prove income to be eligible), free lunch and dinner (in some unis only, in others you have to pay from 50c to 2 USD, though) and some undergrad research scholarships.

    We've got free cancer and AIDS treatments. Free ambulances. I've seen poor, old ladies that sell corn at Sunday's vegetables fair that had a life-changing eye surgery that made them see again. If they had to pay for it, they'd go blind long before their death. FFS there are cochlear implants and organ transplants for free in some cases.

    Paying 15%-25% over 10x+ crypto profits? Man, just take it.

    I'm not saying there aren't problems. You have to study to be accepted in the universities and if your parents had money in the first place, you could prepare yourself better going to the best private high-schools. The lines for some health procedures are long enough, but if your condition is chronic (AIDS, cancer) or life-threatening (e.g. a car accident), you're assisted on the spot. Violence is still a big thing, mainly due to a huge wealth gap, and hopefully there are people fighting to give better conditions to as many people as possible. Not everything is perfect.

    I'm also not saying that all tax money is rightfully used - I'm not such a fool. But I can't imagine living in a country where I had to pay a hefty amount to call an ambulance. If I had to pay for my college degree in the old days, probably I wouldn't have gotten any, as my parents were quite humble.

    Being libertarian or communist or capitalist, we live in society, and people tend to forget a good society is one where the maximum amount of people has their basic needs met.

    People also tend to forget that things they take for granted, such as the structures for calling the cops, sewage treatment, electricity on the bulbs, water in the taps etc. are generally paid with taxes. Don't want to pay taxes? Fine, get your own private security, buy yourself a water reservoir and build your own power plant. Might as well declare independence.

    Imho, not wanting to pay taxes doesn't put you far away from people in the Pandora and Panama papers. Want to make sure taxes are rightly used? Participate and get engaged in social participation programs. Get involved. Be part of your community.

    If you live in a country where there are such social security structures, don't mind paying taxes. If all your neighbors are fed, probably you are fed, too.

    TL;DR: I don't mind paying taxes over 10x+ if people around me will be assisted one way or another.

    submitted by /u/reddito321
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    Bitcoin To $253,800 And Ethereum To $22,300? On-Chain Data Suggests Both Coins Could Moon If History Repeats Itself

    Posted: 05 Nov 2021 07:03 PM PDT

    What’s the most insane crypto story you’ve heard?

    Posted: 05 Nov 2021 05:33 PM PDT

    I have a programmer friend who got paid 100 bitcoin for a job in 2011. He got a job and left his computer in storage at his mom's house in India. He bopped around and worked and kind of forgot about it. In 2018-19, during the first big rise, he came home for the first time in seven years only to find that she threw his whole computer away because she needed space for her vacuum and cleaning supplies.

    To his credit he thanks her, saying that if he had had the Bitcoin on him he would've sold early and be kicking himself anyway, so he's not blaming her for the millions.

    What's the most insane bizarre crypto stories you got?

    submitted by /u/just-a-simple-song
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    That’s it. GG. This is nuts.

    Posted: 06 Nov 2021 12:26 AM PDT

    Because of scammers I am now paranoid and ignoring everyone on chat.

    Posted: 06 Nov 2021 01:45 AM PDT

    This is what it has come to, sadly.

    Recently I did a post that got to the top of the front page and stayed there for a while. As you can imagine, my inbox got flooded with people trying to reach me.

    Some of them were obvious scammers, those get filtered out easily. Scuffed up english, once in a lifetime investment opportunities and so on. Why do they always call me Sir is beyond me, but hey. One trick ponies I guess. I've also met scammers with perfect english who really did fool me at first. Weird links give them away, though.

    All of this has made me so paranoid I am afraid of engaging with people in private chat to the point that I always click ignore and just move on, which is just rude. People who msgd me wanted to discuss the King, some were genuinely asking me where to find more information on X, Y, Z coin and so on.

    To all of you, I am sorry I ignored your messages, but after reading about people getting their portfolios emptied because they opened a link on reddit chat, I am not taking any chances even if it means not helping a good soul.

    This is what the world has become today.
    I feel like we live in the pirate era of the internet where you are afraid to fall asleep without your pistols in hand because you might get robbed any time. It's crazy.

    submitted by /u/Spreizbacken
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    Let's talk about Algorand fundamentals

    Posted: 05 Nov 2021 02:27 PM PDT

    Many of you know about ALGO, but I want to enlighten those who are new to this great L1 chain. Some quick facts about Algorand:

    • 4 second transaction finality (it's fast)
    • Transactions cost is ~ $0.002 (it's cheap)
    • 1000 TPS currently, growing to ~ 20,000 TPS in 2022 (it's scalable)
    • Full NFT minting support
    • It doesn't fork (great for NFTs)
    • Full Smart Contract features (stateful and state-less)
    • ASA and side-chain support (easily create tokens and CBDCs)
    • Transactions can add up to 1kb of arbitrary text data (great for dApps)
    • It's uses a new PPoS algorithm to select and validate blocks (it's decentralized)
    • PPoS means no mining (it's good for the envoronment, and already carbon neutral)
    • Great developer ecosystem (lots of SDKs, documentation, IDE plugins, and an excellent indexer to easily search the blockchain)
    • Bourgening market for dApps and NFTs (lots of room to grow)
    • Anyone can set up a node and participate (it's open)
    • Excellent mobile wallet that works with WalletConnect (it's usable and simple)
    • Governance voting mechanism means we can upgrade the protocol over time (it's future proof)
    • It has a great team (MIT backed + lots of investment cash)

    And finally, let me dispel some myths:

    • "The tokenomics are bad" - Accelerated Vesting has ended, which means the artificial downward price pressure is relaxing. Fixed supply that will dry up in about 2030 (but probably earlier), so prices will rise as more dApps use it and it becomes scarcer.

    • "There's only so many relay nodes, so it's centralized" - To run a relay node, it requires a large amount of computing power. So the Algorand foundation limits relay nodes to operators who can afford it. There are ~ 100 relay node operators, so that's still fairly decentralized. This will grow in time. See this post for more info - https://www.reddit.com/r/CryptoCurrency/comments/pq8bgn/how_are_algorands_relay_nodes_centralized/

    • "There's no dApps" - The chain is only 2 years old, and we already have exciting projects like Tinyman, Yieldly, and Lofty.ai. Many more exist or are in development

    • "There's clawback and freezing features" - Yes, but only for 3rd party ASAs and CBDCs that opt-into it. Clawback and freezing does not exist on the main ALGO chain. Your keys, your tokens.

    And there's a ton more features and benefits to this chain that I don't have room to list here (Silvio!). But overall, Algorand is a bright new blockchain with a ton of growth and potential. Check it out if you're a developer or looking for a solid medium to long-term play.

    submitted by /u/nops-90
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    I tried the most famous trading bot for a month: here is my results.

    Posted: 06 Nov 2021 12:41 AM PDT

    Tl dr: Royal Q is a Ponzi.

    Long story: In the past months a lot of people started to promote Royal Q. A BOT that connects to Binance and makes trades instead of you. You'll find a lot of people enthusiastic about it.

    I didn't believe it, but I wanted to try it anyway.

    Initial setup In order to use it, you need to be invited by a member. You have to pay a yearly subscription fee (about 100€) and also you pay a commission for every daily profit that the bot gives you.

    red flags When you start, you're Level 1. There is a big telegram community about royal q. They celebrate when users reach a higher level. You get a higher level when you invite more users. You earn a commission every time a user join with your referral, and you also get a commission from every time they make any profit. When you start, you are level 1. You gain not only from who subscribed with your link, but also from who subscribed by a link made by someone who was invited by you. Just like a pyramid.

    my results Exacly a month ago I invested 1000€ on binance with royal Q. After a month, I have 1100€. According to the leaders of the community, I should be happy because I made a +10% in a month without doing anything. They said I should invite more users if I want to gain more.

    I strongly disagree with this point of view. I don't think i gained 100€, I think I actually lost them. If I put 1000€ a month ago in BTC, now I would have about 1200€ just by holding it. So this bot gives me a profit that it's lower than what I would make by just holding btc. In fact, now I have less btc than a month ago.

    Most answers i got from the members were that I shouldn't think in btc but in usdt (wtf?). My problem is that I'm just a level 1, I should reach a higher level if I want to make more money.

    So I asked how the referral system is related to the profit that the bot is supposed to provide, and I got banned.

    In the end I didn't lose anything. I knew it was just a Ponzi, the friend who introduced me was so confident that he paid the subscription fee for me, so he lost 100€ because I won't use it anymore and he won't profit from my trades.

    submitted by /u/Trevigol
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