Cryptocurrency State of the MOONion: r/CryptoCurrency Subreddit Events and News! |
- State of the MOONion: r/CryptoCurrency Subreddit Events and News!
- Daily Discussion - November 6, 2021 (GMT+0)
- I experienced my first rug pull today, please be careful. Invest wisely
- I will probably never find a coin that will go x100
- 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!
- This sub feels less like group of investors debating over tech and more like drunk gamblers throwing money on horse races.
- Crypto is not as user or beginner-friendly as you think
- 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%.
- Facebook verified a Bitcoin scammer pretending to be Elon Musk
- 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.
- I think this is a point where the market is looking a bit sketchy.
- I you want to gamble into random shitcoin put 10$ into it, not half of your life savings.
- Has anyone heard of Loopring (LRC)? I haven’t heard anyone mention it before
- 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.
- Reddit Plans To Onboard 500 Million Users To Web3 Via Ethereum's Arbitrum - Bullish on Moons
- Sometimes you need to sell at a loss, and put that money into something else. The opportunity costs of holding a dead bag
- How to tell if a new coin is a shitcoin in a few seconds
- The Different Types Of Crypto You Should Know (For beginners)
- Do people know you as "The guy who invests in Crypto"?
- How many of you going to attempt to time the market to exit or hodl?
- 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.
- Bitcoin To $253,800 And Ethereum To $22,300? On-Chain Data Suggests Both Coins Could Moon If History Repeats Itself
- What’s the most insane crypto story you’ve heard?
- That’s it. GG. This is nuts.
- Because of scammers I am now paranoid and ignoring everyone on chat.
- Let's talk about Algorand fundamentals
- I tried the most famous trading bot for a month: here is my results.
State of the MOONion: r/CryptoCurrency Subreddit Events and News! Posted: 05 Nov 2021 07:57 AM PDT
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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:
Useful Links:
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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! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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". [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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!! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 05 Nov 2021 05:27 AM PDT It's not a rant, Im just really confused how things change so quickly. 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! 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! 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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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...
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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 $250 XRP. His DOGE-TRX-XRP portfolio:
This sub's most loved: BTC-ETH-VET-ALGO portfolio
So on this part, if it happens exactly like this, he is wrong. Caveat:
Disclaimer: We still don't know shit about fuck. Take everything with a grain of salt. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Facebook verified a Bitcoin scammer pretending to be Elon Musk Posted: 05 Nov 2021 06:00 PM PDT
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I think this is a point where the market is looking a bit sketchy. Posted: 06 Nov 2021 02:54 AM PDT I apologise for trying to slow down the hopium train guys but to be honest i am getting a feeling that at this point in the market where we are standing, it looks like already a high has been achieved and now a huge sell off may or may not occur. Points to consider:- 1. Bitcoin made a high of 67k 2. Ethereum and Altcoins going crazy(5x, 10x, 50x). 3. Meme coins pumping way too hard which means the retail money is getting in. 4. Big time rug pulls like Squid game and what not. 5. Banks and institutions saying BTC will touch 135k and ETH will go above 10k in Q4. Now i understand that the youtube shillers are still way too optimistic and they keep saying BTC will goto 100k before December and a big Altcoin rally will follow. I also understand that no one wants to see their profits turn into loss in a span of few days. So what do you think? Is it a good time to cash out 50% of my crypto and then sit back and watch the rollercoaster go crazy or should i wait till December? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I you want to gamble into random shitcoin put 10$ 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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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: [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reddit Plans To Onboard 500 Million Users To Web3 Via Ethereum's Arbitrum - Bullish on Moons Posted: 06 Nov 2021 02:01 AM PDT
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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 [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Different Types Of Crypto You Should Know (For beginners) Posted: 05 Nov 2021 07:30 PM PDT Types of Crypto
Please feel free to correct me in the comments if I got something wrong. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 05 Nov 2021 07:03 PM PDT
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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? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
And finally, let me dispel some myths:
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. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. [link] [comments] |
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