Cryptocurrency Daily Discussion - December 10, 2021 (GMT+0) |
- Daily Discussion - December 10, 2021 (GMT+0)
- Just because a coin's value is $0.00001 doesn't mean it has room to reach $1
- Crypto in 2022
- Saying "we are still early" is setting yourself up for wildly unrealistic expectations
- TA YouTubers are full of sh*t - prove me wrong
- Whos life has really changed due to crypto?
- I don't know if you guys realize it but NFT gaming is probably going to be the biggest thing to come out of crypto.
- My attempt at the simplest explanation of what Loopring (LRC) is and why people say it's going to be massive (excluding GME stuff)
- Solana Chain was hit by a DDoS attack and being overloaded.
- For the first time in months, Crypto movements looks healthy and sustainable again.
- Untill someone makes a crypto game that people would play without the rewards included, crypto gaming sucks.
- A plan for a $3 billion casino in New York's Manhattan includes a massive crypto-trading floor
- Not falling for the dip of the DIP again.
- Safemoon investors: “Do you have updates on the promised roadmap items?” Safemoon CEO: “Shut up, I’mplaying Halo”
- Bill Gates says the metaverse will host most of your office meetings within ‘two or three years'
- There is no need to be two steps behind every time we enter a bull cycle.
- Whitepaper's today is nothing more than a long list of promises like that of a politician's manifesto before election!
- How would you react if you discovered that you profited directly from another user here? And that user was now ruined.
- Pepsi launched their mic drop NFTs on ETH and Solana Twitter is mad lol
- Gamer-hate: Ubisoft's new NFT project vid gets 96% dislike ratio.. LOL
- Crypto will not be globally adopted until it's easy, fast, accepted by most if not all companies, and to some extent CENTRALIZED
- A disabled friend of mine has no real route to safely aquire cryptocurrency...
- What is the perfect gift for a crypto enthusiast?
- Ethereum is outperforming bitcoin because its a technology bet rather than a bet on inflation
- 1.26% of all circulating bitcoin is held by 85% of the total addresses while 63% Bitcoin is held by a mere 0.04% of the total wallet addresses.
- The implications of an "Ape Army" in the crypto space
| Daily Discussion - December 10, 2021 (GMT+0) Posted: 09 Dec 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:
Useful Links:
[link] [comments] | ||
| Just because a coin's value is $0.00001 doesn't mean it has room to reach $1 Posted: 09 Dec 2021 11:44 PM PST This post is particularly for those who have little to no idea about Market Cap. People new to crypto often fall prey to the shillers offering millions of tokens at just $10 or so. The boom of dogecoin and it's peers have just added fuel to the sale of memecoins which are often scams or rugpulls. Even if they aren't, that doesn't mean it's a good investment. The value and room for growth of any Cryptocurrency is determined by it's Marketcap. The market cap of a token is calculated by multiplying the value of one coin into the total supply of the coin. If a coin has the value of $0.0001 a piece and the market cap of $100 billion and you buy a million tokens thinking it'll make you a millionaire someday, you are WRONG! This token will NEVER go to $1. For it to reach $1 the market cap of the crypto would have to be $1 Quadrillion Which is IMPOSSIBLE! Even Bitcoin, the OG, doesn't have that marketcap. That being said, while checking the marketcap is important,if the token is deflationary you should check the minimum supply it will have in the future and then calculate it's highest possible growth. If there is something I need to add or correct, please comment it. Edit: Market capitalisation is obviously not the only criteria which can help us determine how much a coin's value can grow, but it is a good place to start. There are plenty other things such as total supply and max supply of tokens, fully diluted market cap, volume etc. One should always read the token's whitepaper to find all the details, check social media handles of the dev team and the official handle of the token (if they have any). [link] [comments] | ||
| Posted: 10 Dec 2021 02:42 AM PST I thought I would paint one vision of what might be in store for cryptocurrencies in 2022. Most of this is just an extrapolation of where were are today and stuff I came up with just to get people thinking and generate debate. More and more people will get into cryptos Crypto has had a great ride in 2021 when it comes to adoption. Most of this adoption has been in winning over financial institutions. In 2022, crypto will become an investment vehicle for the masses. This will be spearheaded by banks acting as custodians and offering crypto based investment portfolios to their customers. As the realization that blockchain is disrupting business models seeps into the public consciousness, altcoins will be viewed as investment in tech startups. As a result the correlation between altcoins and Bitcoin will breakdown and greater emphasis will be placed on the fundamentals of each token. Good projects will receive substantial investment while lesser projects will flounder. As more and more people start to interact with DeFi and staking; scalability and usability will become important. DeFi experiences that are easy and cheap to use for the ordinary person will become important. Digital identity will become important The traditional world the crypto world will continue to come together and unified through regulation. A key part of this will be KYC and AML laws. DeFi solutions that blend in KYC will become important. This will give rise to the importance of digital identity solutions that allows for verification while maintaining privacy. Low energy coins will become important The energy usage of cryptocurrencies will receive a lot of attention. POW will be viewed as wasteful and POS will be seen as a favorable alternative by lawmakers. NFT 2.0 will develop NFTs will be used to tokenize and fund music, film, and games development with holders getting a slice of the revenue. NFTs will move on from being associated with low quality jpg images to high quality artwork. The first ever art galley to physically show case digital NFTs will launch. Layer 1s will become invisible Layer 1 blockchains will increasingly be seen as infrastructure that DApp developers care about but DApp consumers are oblivious to. Alternatives to the EVM operating system will become popular similar to iOS and Android today. The same DEX will exist on multiple blockchain platforms and liquidity will be aggregated across them. Real world governance and Crypo governance will intermingle The first ever governmental election recorded on a blockchain will happen in 2022. This will pave the way of governance of all sorts moving onto the blockchain from housing boards to stockholder voting. [link] [comments] | ||
| Saying "we are still early" is setting yourself up for wildly unrealistic expectations Posted: 09 Dec 2021 07:22 AM PST Saying "we are still early" is a form of confirmation bias and coping mechanism people use when in reality we aren't that early anymore. Bitcoin has a trillion dollar market cap and is the 10th most valuable asset in the world. I wouldn't call that being "early" anymore. Ethereum is #15. Large companies are now buying these assets. The days of 100x your money in a year is basically over. As for the shitcoins that do do that, look at the volume at the start. Barely anyone was trading back then. Do I think there is still a lot of room for crypto to grow? Yes, but this isn't 2011 anymore. Most people who buy now aren't going to make insane gains and that's just the truth of it. There are 15,000 shitcoins in existence now, back in 2011 there were maybe 5. And the industry just started back then, now it's been around for 12 years. Much different ballgame now than it was back then. I'd say we are somewhere in the middle. Big gains can still be made but don't make the mistake of thinking this is 2011 and expecting a 1000x in one year. [link] [comments] | ||
| TA YouTubers are full of sh*t - prove me wrong Posted: 09 Dec 2021 12:59 PM PST I have been through some of the 'biggest and most respected name' on crypto YouTube. CoinsKid, MMCrypto, Chart champions and so on and so on. All they do is the following: >Pump out multiple videos of a possible scenarios stating it could up or could go down. >Then they claim they called it correctly by simply choosing the video that ended up being right. >honestly whenever you think you have found the next 'God of TA' just go back through their last 30 videos or so and check the prediction against the actual price action. 9/10 videos will be wrong. Truth is TA takes decades of experience in a proper bank/hedge fund. And if you where that good you wouldnt need to make f**king YouTube videos. Sorry i know most of you know this, but i hope it helps some of the newbies out there. Needed to rant lol Stay safe people! UPDATE: Getting downvotes - i see you MMCRYPTO lol [link] [comments] | ||
| Whos life has really changed due to crypto? Posted: 09 Dec 2021 03:20 PM PST We are all in here, more or less, to be financial independent, to retire early, to make money besides our regular jobs. All the time the people in this sub talk about life changing money, moonshots, 100x investment and so on. [link] [comments] | ||
| Posted: 10 Dec 2021 12:45 AM PST Gaming industry is huge. For e.g. GTA 5 earned $1 billion in its first three days of launch. That is insane. There are several NFT gaming metaverses (technorats.io , Sandbox etc...) that I think are promising. FPS are more my style, and SidusHeroes looks exciting and I think it might set a new standard for FPS-style NFT games. Now with NFTs in games changes the whole system. Imagine playing a game that's built with NFTs. You can earn tokens throughout the game missions and challenges. You can buy and sell items using those tokens. And you can convert those tokens to fiat. On top of that if you hold the tokens, their value would go up as time passes. NFTs will change the future of gaming. The tech is fairly new so it'll take some time to become mainstream. But when it does, it'll do wonders in the gaming community. If you are into gaming and also see the potential, There are several NFT gaming metaverses that I think are promising. FPS are more my style, and SidusHeroes.com looks exciting and I think it might set a new standard for FPS-style NFT games. [link] [comments] | ||
| Posted: 10 Dec 2021 04:49 AM PST Loopring starts with Ethereum's massive size (and flaws)We first need to understand that ethereum is the most used blockchain today by far. It boasts the most developers, most decentralised apps and most exchanges by far. Eth's smart contracts enable the existence of DEXs (decentralised exchanges) which fill the role of banks so you and I can buy crypto using other crypto. SushiSwap and Uniswap (DEXs built on ethereum) alone have a 24-hour trading volume of $3.5 billion. That's a lot of activity! Apps and DEXs on ethereum have basically recreated the traditional financial system we have now. But like a highway in constant rush hour, ethereum isn't made to handle transactions by millions of people around the world simultaneously.Ethereum has a low TPS (transactions per second) of around 15 which makes it easy to get congested and traffic to build up. Eventually each transaction will go through, but there are downsides. And these are transaction fees, or gas. Transactions need A LOT of gas on ethereum, whether you're doing something small like transferring from Wallet A to Wallet B, or something big like exchanging your family's savings for tokens in Uniswap. Look how huge ethereum's fees are right now compared to other blockchains (smaller is better):
And here's the speed difference in transactions per second (higher is better):
Loopring builds a highspeed skyway above ethereum's congested highwaysAnd the name of this skyway is 'zkRollup'. One of the things zkRollups do is group hundreds of transactions and process them together instead of individually - and on a separate layer of the blockchain called Layer 2. This new layer is capable of handling up to 2,000 transactions per second. This means gas fees are slashed because:
Less gas fees means developers can experiment and build apps and users can exchange tokens without spending a ton to further grow adoption. TLDR:Would you rather take the express skyway or commute through traffic congested highway every single day? [link] [comments] | ||
| Solana Chain was hit by a DDoS attack and being overloaded. Posted: 09 Dec 2021 12:07 PM PST Last Solana network crash showed the world how this blockchain is so centralised and how it is far from mass adoptable. Last Solana network crash showed the world how this blockchain is so centralised and how it is far from mass adoptable. It is then itself I sold my SOL and bought more Luna. When in doubt just buy Luna. So far this strategy has worked for me. (Not financial advice) So we are saying a decentralized blockchain is as vulnerable to DDOS as a centralized website, and Solana is one of the most centralized coin in the market. [link] [comments] | ||
| For the first time in months, Crypto movements looks healthy and sustainable again. Posted: 10 Dec 2021 03:00 AM PST The current 'dip' is all that's being talked about here, so I'm assuming most of the complaints are coming from recent buy ins. Don't buy doing a hike if you don't wanna deal with correction prices. Since September BTC had just been on the rise, hitting a new all time high. Those of you who believed that this would just keep going on are now in here talking about either "crypto sales" or "bear market" depending on your angle. The prices will go up again that's most likely, but this correction is perfectly healthy. Just because the market isn't continuing its bull run doesn't mean it's all going south. Since Saturday BTC's movement has been beautifully sideways. At this point most of the sell offs have most likely stopped. The direction of the market is upwards, but you're gonna have to get used to corrections and crashes if you wanna become a stronk HODLer! [link] [comments] | ||
| Posted: 10 Dec 2021 02:00 AM PST People talk about revolutionary NFT in games, NFT games, crypto earn games and so on. The bottom line is that the vast majority of crypto games are classic crap. Like literally. Completely boring, earn games, or pay to win games, and in most of them you have to put a lot of money investment to start playing and maybe enjoy that game. There are two games I play that are fun for me, and another is in sight. If you're interested I'll tell you what they are, but I didn't mention them because some people may think that I am shilling those games. [link] [comments] | ||
| A plan for a $3 billion casino in New York's Manhattan includes a massive crypto-trading floor Posted: 09 Dec 2021 06:09 PM PST
| ||
| Not falling for the dip of the DIP again. Posted: 09 Dec 2021 04:59 PM PST Seriously, I have my plans and I have my strategy. But I got blindsided by the recent dip. It dipped nicely then the market decided it wants to dip massively right after I bought what I thought was a steal. Now if we're averaging down, yes I did average my % down overall, but I could have been in a much stronger position. Whales are playing games atm, many feel this is the final leg of the bullrun and some whales understand this. On one hand if they can shake as many out before the biggest run up this year, they get monumental profits. On the other hand, if they can convince everyone the run up may still come and plunge us into a bear market then these small dips followed by a larger crash (then a green run before a rinse repeat), it can achieve the same result but just more subtle. Anyone else feel a bit shaky, almost like you don't know what to trust for the moment? I have my fiat ready but these whales are gaming hard. I won't put in more than I can afford to lose but man, always remember you don't know what's coming next, so be careful and don't just throw it on the table if you know you need that money. Dollar cost average and save some for a potential bear run, this is how you beat these bastards. [link] [comments] | ||
| Posted: 10 Dec 2021 03:40 AM PST Maybe one day I'll be able to stop posting about this continuing clusterfuck that remains Cryptocurrencies most-drama and forehead-smacking project. If you missed previous parts, fill your boots: ///////Part 2 &1/2: Safemoon has been exploited from day 1 and $68,460,000 have been siphoned out of the liquidity pool. This gets auto-deleted from their sub. Explanation in comments ///////Part 33 &1/3: Last call for Safemoon. The curtains are drawing on this omnishambles of a project. ///////Part 44 &1/4: Like rats fleeing a sinking ship, Safemoon's core developers peel away one by one as the price plummets and one single question remains unanswered - WHERE IS THE MONEY GOING? ///////Part 55 &1/5: History Repeats Itself: another high ranking Safemoon official slinks out the back door, price goes through the floor. Many moons ago, safemooners got themselves in a tizzy about a cryptic date left intentionally on some marketing material distributed by official Safemoon communication. There was a hell of a lot of speculation on what this meant, as well as confusion on the dates. In American, it reads the 12th of September 2021. Sure enough, that date came and went without any ceremony so of course the narrative shifted effortlessly to "Ah, CEO John Karony is using English date format, as COO Jack Haines is English. Makes sense" That would make the date the 9th of December. Which was yesterday. As expected, absolutely nothing happened and CEO John What would you do in such a situation? Probably admit what you had planned, explain why it's not materialised and then either give a new approximate date or scrap it with an apology. What does John Karony, Safemoon CEO wünderkind do? Not once. These are people asking the CEO on the public discord what is happening with promised roadmap features, and his response is to hand wave them away and say "I'm playing Halo today" This, in the context of Bitmart exchange being hacked and some 27 Trillion safemoon tokens being dumped on the market, against the backdrop of Safemoon CBO leaving and then a 20T wallet mysteriously and conveniently awakening and dumping its entire contents on the market, in the context of several missed deadline, incomplete product launches, mass departure of core members. And the CEO's best response is to say "Shut the fuck up and let me play Halo in peace" Truly we are living in an idiocracy. [link] [comments] | ||
| Bill Gates says the metaverse will host most of your office meetings within ‘two or three years' Posted: 09 Dec 2021 05:17 PM PST
| ||
| There is no need to be two steps behind every time we enter a bull cycle. Posted: 10 Dec 2021 04:18 AM PST The state of this sub sure has changed since 2018 and while that isn't necessarily bad I see new people struggling with the same stuff over and over again. I'll just quote a few posts from the front page to try and get my point across.
Isn't this self-evident? How much time do you have to spend researching crypto before you realize that every token has a defined supply that plays a key role in determining the token price? Why are we still learning the basics here?
You are still early. There is no doubt about it. For perspective, only 3 million ETH wallets have more than 0.1 ETH in them. There are 8 BILLION people on this planet and they all need financial services. You are as early as you can be. Even Bitcoin active wallets only crossed 65 million active users recently. Do the math. It's that simple.
YouTubers are here to make money for themselves, not for you. If you want them to paint a bullish scenario just because you want your bags to go up they will. Their content is determined by metrics and your Google searches. If you want to feel bullish they will make you feel bullish because that brings in more revenue. This doesn't mean that you can't find reasonable people out there. Some that I follow are expecting BTC to go down to 30K before we can make a significant rebound. Are they also full of shit?
Did you not find it suspicious that people asking for money up front can't even bother to give you a working product to try first? Whitepapers are there for show and none of them should be taken seriously. This is something we all learned during the ICO era, why do we have to reevaluate the same shit over and over again? They all smell like manure so treat them accordingly. Perspective is everything in crypto The problem may lie in the unrealistic expectations new people are fed with as soon as they step into the crypto industry. Before you can talk reason into them they will find Bitboy crypto and he will tell them that Ripple is going to $250 in 2022 while also lying that he is an expert on the subject. The hard truth is that no one knows what they are actually doing. We can't know if Ethereum will be here in 10 years even though it may seem obvious today. What if they don't fix the issue with fees and people just find something different but equally useful? You are running a marathon and anyone who tells you otherwise is a liar. If you want to "make it" in crypto you need to commit to something. Find a project that resonates with your personal beliefs and moral values, get involved, stack the token over time and reap the rewards once people recognize the value you saw years ago. It is really not that hard if you stop listening to idiots. NO ONE KNOWS what they are talking about when it comes to long-term investments. Just find something that makes sense to you and mute the noise. It won't get you anywhere. If all those influencers actually made generational wealth with crypto they would have no time to record videos, make stupid faces in the thumbnail and lie all day for a living. [link] [comments] | ||
| Posted: 09 Dec 2021 03:45 AM PST Whitepaper used to be very important document of a Crypto project but with time some people brought a bad name to whitepaper and using it as a tool to steal people's money. People behind scam coin's using whitepaper to lure investors, mostly newcomers to invest their money into their scam coin, and when they got control over people's money then they pulled the rug and ran away with people's money. Satoshi released BTC's whitepaper to introduce what he has created, the purpose behind creating it and how BTC can be used. After BTC, whitepaper continues to hold a good reputation and investors look at it as a reliable document on which they can trust while putting their hard earned money. But with time the meaning and importance of whitepaper has changed and there are thousands of Coin's claiming to solve different problems, with different use cases in their respective whitepapers. Simply whitepaper turned into a list of promises less of achievements to make you believe and with the motive to take control of your money.Once the people behind a project have control of your money then the rules, promises can change any time. There are hundreds of examples infront of you, where whitepaper claimed to achieve so many good things in future, but after taking your money, the whitepaper means nothing and the intentions,vision gets changed overnight. TL,DR : The meaning,importance of Whitepaper is no longer the same which is supposed to be back then. [link] [comments] | ||
| Posted: 10 Dec 2021 02:23 AM PST Suspend belief and probability for a moment, and imagine a scenario. You have invested into a coin, lets call it WET coin, so people don't think I'm shilling. WET has been cruising along for a few weeks when suddenly a major announcement sends the price soaring. You thought there was a possibility of a good gain, say, 5X. But the price is moving past 30x right now, and still climbing. Momentum builds and more investors pile in. The subreddit sees thousands of new users - some of them new to crypto. As a veteran of the coin you even offer some opinions of your own. Buy-ins and FOMO continue and now you are looking at a more than 500x on your investment. But then, tragedy. The announcement was fake. Nothing is happening, and there is no possibility that it will ever happen. The price drops. And it continues to drop. Screams of HODL and Buy the Dip echo across multiple subs, but staring down the possibility of losing a major gain, you decide to sell. You sell it all and take pride in your massive gain - roughly 350x your initial investment. You have done nothing wrong, you did your DD on a project and timed the market reasonably well. A few days pass and the price is still falling its now back to around the 10x from your original investment - a drop of 98% from its ATH. You feel justified and calm buy your decision making. You also still have some faith in the project, so you decide to put your original investment back in at the new price. The price appears to stabilise now and you seem to have done well, ready for a new pump in several years, if it ever happens. Then one thing happens that completely floors you. A post from a user on reddit catches your eye. Its a new investor who has lost big on WET. Down 97% on his original investment. He appears to have legitimately lost most of his life savings, and his family doesn't yet know about it. Users are hounding him about being so reckless. But something else startles you particularly. You recognise the name. It is a user that you have previously provided advice to - bad advice. More than that, the price he bought into WET at was exactly the same price you sold it for. It strikes you that, that the exact amount of this users loss is the same amount as your profit. You have done nothing wrong, and even that user likely knows that. WET has made you rich, but at the cost of another family's wellbeing. So, what do you do? Do you reveal the connection? Do you reach out? Do you smile and laugh maniacally? TLDR: You get rich of a coin, and then discover another redditor here has lost everything by the same amount. What do you do? [link] [comments] | ||
| Pepsi launched their mic drop NFTs on ETH and Solana Twitter is mad lol Posted: 09 Dec 2021 10:32 PM PST Pepsi recently announced their mic drop NFTs and meta was welcoming. We obviously need a drink in the metaverse and Pepsi did it first. Idk why they're mic drop though On Twitter Pepsi wrote "The NFTs are basically free but you gotta pay for the gas to mint NFTs directly into your MetaMask or any such trusted wallet" and to which Solana Twitter replied shoulda stuck to making sugar water. Check it in the image It's pretty obvious though, on which network the big NFTs are gonna be. But this made me laugh instantly [link] [comments] | ||
| Gamer-hate: Ubisoft's new NFT project vid gets 96% dislike ratio.. LOL Posted: 09 Dec 2021 10:03 PM PST
| ||
| Posted: 10 Dec 2021 01:55 AM PST I know I know, the main point of crypto is decentralization, but in the current market, usability wins big time. My grandma won't use crypto until she can pay for groceries with it. My uncle won't use crypto until he can send bitcoin to his contacts without having to stress over tens of addresses with scrambled characters impossible to memorize. My niece won't use it until it's as fast as an app or a website launching on her computer. And I'm 1% of my whole family tree who manages to use crypto in the decentralized, yet bone chilling way. Thing is, CEXes have been much more successful at implementing these necessities than DEXes. We either need DEXes that are ACTUALLY for the average joe, or we have to support CEXes when it comes to pushing adoption forward. Decentralized solutions for this trilemma, on the other hand, would be the preferred future of crypto, and I think every project should strive to make it safer, easier, and quicker. [link] [comments] | ||
| A disabled friend of mine has no real route to safely aquire cryptocurrency... Posted: 10 Dec 2021 04:36 AM PST I have a friend who is completely blind, but has tremendous aptitude for understanding and comprehension. This friend listens to a lot of podcasts and YouTube via their PC by using on screen speech apps and the like.. Recently I was speaking with them and they wanted me to help them get into investing, specifically with cryptocurrency.. Now this is where I realized how exclusionary KYC truly is.. My advice to this friend was to give them the safest bets possible, especially considering their fixed income and my actual desire to help them get ahead financially. It isn't easy being blind. The world is very critical of being able to see. So traditionally they would use a text to speech app to fill out URL boxes or search certain things but that app does not work with some secured apps, like ones linked to financial institutions. This is where a helper like me comes in, doing what I can for them regarding things of this nature. Well being as this person has no drivers license nor visa (passport) it comes down to a state issued ID.. which after a few days of frustrating talks with the couple of exchanges we can use here, they are saying they can't verify their identity. Not only can they not verify identity, but I realized very quickly that if it even came down to sending or receiving cryptocurrency, they would be out of luck as well. They can't confirm if an address is correct via the first few/last few digits, like most of us do. They can't easily pull up a QR code to allow transfer into a wallet. The only thing they can do is hope someone like me is around to help them should they need it. This doesn't scream "financial freedom" or "financial inclusion" to me. This thought snowballed quickly, and I am now reaching out to this community for any advice or maybe spark innovation to address this.. Thanks. [link] [comments] | ||
| What is the perfect gift for a crypto enthusiast? Posted: 09 Dec 2021 12:27 PM PST As holidays are approaching, I was thinking, what could I get to a dear person in my life, who also happens to be a crypto enthusiast? I found it to be a tough question. I couldn't come up with anything beside buying the dip for them lol. What do you guys think? What would you like to be gifted? I'm assuming most people that are taking this seriously will already have a hardware wallet and all the nice stuff, and I couldn't find any gift cards from any Centralized exchanges. So I'm actually clueless. [link] [comments] | ||
| Ethereum is outperforming bitcoin because its a technology bet rather than a bet on inflation Posted: 09 Dec 2021 06:52 AM PST
| ||
| Posted: 09 Dec 2021 11:13 AM PST This latest buy from MicroStrategy (Michael Saylor's Company) of Bitcoin has made this inequality very apparent to me- the big becomes bigger and the small becomes smaller. (proportionately speaking) The most shocking figure for me was that the majority of people- close to 85% of the total wallet address who holds BTC- holds less than 1BTC in their account while only 0.04% of the total wallet addresses holds more than 100 BTC each accounting to the collective ownership of close to 63% circulating bitcoin. I always thought that Bitcoin was a means to erase this rampant and corrupt inequality, alas, as reference to the real world- the rich will grow richer and richer by each passing day. The freedom to invest a huge sum and let that sum grow is a luxury not all of us can have. Edit 1- I love Bitcoin, i love the technology, what i don't love is this inequality in the ownership. Edit 2- Central exchanges holding Bitcoin: Can we approximate the number of Bitcoin held by central exchange and then assume that a large chunk of it is held by small retail players because players with significant numbers of Bitcoin would migrate to their personal wallet. Maximum amount held by exchange should not be more than 10-12% (according to a dated article published this year) so if we reduce that from the current number 63%, 50% is still held by 0.04% and that still is a significant amount? Does this argument hold? [link] [comments] | ||
| The implications of an "Ape Army" in the crypto space Posted: 09 Dec 2021 04:49 PM PST This is total speculation, but the fact LRC has an Ape Army behind could provide an interesting dynamic as we anticipate a Bear Market. Many are acutely aware of an impending crash and are trying to avoid it all costs. With LRC being involved with the Ape Army, many will see value in that communities ability to hold. Furthermore, the more that community chooses to hold, the more resilient that coin will be to btc dumps. I can't be the only one that has thought of that, and I would not be surprised if many choose to take advantage of that Ape Army dynamic. "Oh shit, btc is crashing, put it into LRC; it has the hodlers.". Now, I fully understand there is a large group of day traders, that try to swing LRC, but it always seems to be picked up by the community. If this were 3 years ago, i would say no way an internet group would make a difference, but given the whole GME thing, this community does seem to play for keeps. [link] [comments] |
| You are subscribed to email updates from Cryptocurrency News & Discussion. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment