Cryptocurrency Daily Discussion - December 15, 2021 (GMT+0) |
- Daily Discussion - December 15, 2021 (GMT+0)
- You got SCAMMED. You didn't get HACKED! For God's sake learn the difference and if you think you got 'HACKED', write the details as to what happened so the community can learn what the f* happened and not panic for their crypto money.
- Most of the "I got hacked" posts are bullshit
- I work for a wealth management firm, private wealth is VERY interested in crypto.
- Ethereum's market cap is exactly 50% of Bitcoin right now. Do you think the flippening is possible?
- Banks calling crypto risky is the same as FAX companies calling Email risky
- Which alt coin(s) will **easily** survive a bear market?
- If coins were rated solely on their names, who would win?
- It's incredible how many people even have to ASK whether the recent spike in price was a glitch or not..
- Shoot me but I don't want gaming and crypto to mix
- Why did you invest in crypto?
- What industries / specific companies are you looking forward to crypto killing off?
- I started investing in crypto bcs I wanted to get rich. Now I invest in crypto, bcs realistically, what's the alternative?
- Bank of England labels Bitcoin ‘worthless’ as U.K. inflation hits 10-year high lmao
- Be Aware! This sub contains some of the worst investment advice I've ever heard, and it's full of folks who think they're Warren Buffet because they won the lottery and won a billion bucks.
- Stop getting milked like cows.
- "Decentralised" my arse
- Algorand just released a HUGE announcement: Viridis Phase II: Aeneas Liquidity Program. There are three main objectives: 1) Robust bridges for newcomers and migrants. 2) AMM DEXs for aspiring traders and merchants. 3) A borrowing & lending architecture for capital efficiency and commerce. BULLISH.
| Daily Discussion - December 15, 2021 (GMT+0) Posted: 14 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:
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| Posted: 15 Dec 2021 04:06 AM PST Crypto Wojak 1: "Guys I got hacked. Lost $100 gazillion. My funds were on Metamask." Crypto Wojak 2: "Oh fuck Metamask ffs!!!" 10 hours later: Crypo Wojak 1: "Oh guys I totally forgot to say this but I clicked a Discord link and they asked me to validate my wallet for free NFTs so I put in my seed phrase and after that my funds were drained. But lemme just write a post saying I got HACKED and METAMASK SUXXXX!!!!" --------------------- For fuck's sake, most of the people that lost their crypto money got SCAMMED, not HACKED. Did someone suddenly invent a quantum computer capable of breaking SHA-256 cryptography? Because that's literally what it takes to 'hack' your crypto wallet without your seed phrase. The whole point of crypto is that NOBODY, no MACHINE, no CIA, no NSA, no Illuminati, no Bogdanoff can HACK your crypto wallet, that's the whole fucking point of crypto ffs. So you can fucking imagine why ppl start to panic when some rando Wojaks that got scammed like a noob but cries out loud how he got 'hacked'. Then everyone starts to think 'what if this happened to me????' and 'does this mean Ledger and Metamask are not safu??' If only people could be clear and write out step by step what actually happened and stop spreading these bullshit fear stories. [link] [comments] | ||
| Most of the "I got hacked" posts are bullshit Posted: 14 Dec 2021 05:16 PM PST Most, if not all of those posts are just idiots who either clicked on suspicious links or had a stupid fuck-up they either don't want to admit to or are oblivious about. It is difficult to have your system compromised or to "hack" your software wallet. Most of the hacks are social engineering that ignorant people are susceptible to. Please be vigilant about every link that you click, where you save your seed phrase, which smart contracts you interact with. And sim-swapping is very real (although difficult and expensive for hackers to carry out), just get a token-based 2fa. It annoys me when people spread rumours about "hacks" when 99.9999% of the time it is their stupidity that caused it. Edit : At this point I want to make it clear. I use the word hack as system/software-level exploits. Social engineering is a form of hacking, but new users tend to associate the word "hack" as some kind of computer wizardry to steal their crypto. And I am writing this post in that context. [link] [comments] | ||
| I work for a wealth management firm, private wealth is VERY interested in crypto. Posted: 15 Dec 2021 02:06 AM PST Hey everyone, as the title says, I work for a wealth management firm that specializes in private wealth but we also do the backend office work for the majority of the banks in my country as well as facilitate transfers from our countries version of the IRS to retirement funds and banks. Recently we had a 'meeting' about blockchain, crypto and NFTs and holy shit the firm was really onto it all. We regularly hear the FUD about the environmental impacts of crypto against something like visa or how it can be used by criminals for illegal activity. My firm knocked them out of the park, they pointed out how those comparisons are BS because they dont account for the total carbon footprint of the traditional banking system. They actually went in depth to point out that lots of newer crypto currencies are using PoS over PoW which means we're using less energy and that a lot of the larger mining facilities are right next to energy production plants, typically green energy plants such as hydro. They also mention that crypto is actually less commonly used for criminal activities than good ol FIAT. You know what else, they actually defended NFTs. They pointed out that they can be used for tickets, passports and more than just jpeg files of bored apes. Our company is actually intending on creating a subsidiary company based around blockchain wealth management. People you have just received a brief inside look into a foreign private wealth management companies view on cryptocurrency. When you hear on the news about governments being unsure about it or FUD just remember, the big boys dont give a crap and they're coming to make money and if crypto is where it is, thats where they are going. Oh and they said something about 2B people being unbanked or something and how crypto helps fix that which makes them bullish but whatever, who cares about TWO BILLION PEOPLE who stand to benefit from the expansion of crypto am I right lol. [EDIT 1] More information around environmental concerns added. [link] [comments] | ||
| Ethereum's market cap is exactly 50% of Bitcoin right now. Do you think the flippening is possible? Posted: 14 Dec 2021 07:58 PM PST If you check CoinMarketCap right now, (price glitch fixed BTW) you will see that Ethereum has a market cap of 586B and Bitcoin is at 1.17 trillion. Ethereum is essentially exactly half of Bitcoin right now. I have been very bullish on both ETH and BTC for a while, but personally I've always been more bullish on ETH. It just has so much more potential than BTC which is just a store of value. I've always thought that the flippening was a sure thing, For the flippening to happen, ETH would have to 2x while bitcoin remained the same, or something like that. This isn't impossible, I think it could happen over a longer period of time for sure. What do you think of the flippening? Do you think that it's going to happen? [link] [comments] | ||
| Banks calling crypto risky is the same as FAX companies calling Email risky Posted: 15 Dec 2021 02:39 AM PST It is funny an even ironic to see Banks warning about crypto. Just yesterday the bank of England warned that crypto could become 'worthless'. Banks are freaking out seeing money goes from under their control to exchanges which they can't manipulate. The less assets they have under control, the less power they have. Crypto is a danger for their existence and they know it! It is the same thing when FAX companies would warn about emails and their dangers when they noticed that it is taking their market share. Banks are not stupid, they have a lot of smart people working there. They know that their future is not certain anymore with so many people wanting decentralized finance and seeing the adoption grows massively. It has become quite clear, either join and adapt blockchain technology or get lost behind! [link] [comments] | ||
| Which alt coin(s) will **easily** survive a bear market? Posted: 15 Dec 2021 03:09 AM PST First I have to say I'm not try to suggest we are in a bear, bull, or crab market. This is just hypothetical for fun and games until someone's eye gets poked out. At which point we'll stop I guess. I made a post a few days ago about what people thought was the project that will tank and not recover in a bear market. ICP, SOL, CRO, VET (in no particular order) were some of the most upvoted nominations. Now I want to know your opinion on the best suited coin to make it out of a prolonged bear environment. [link] [comments] | ||
| If coins were rated solely on their names, who would win? Posted: 15 Dec 2021 12:51 AM PST This is part in jest and part in seriousness. The current variety of names of new coins/tokens is more reminiscent of stuff you find in a candy store than something to be taken seriously. Bitcoin is a great name imho. It conveys "digital" and "currency" and it has a nice ring to it phonetically. Another good example is Tezos, sounding like the FIAT currency "Pesos". But from there it rapidly goes downhill. The obvious names to bash would be the meme coins, but even more established names are pretty bad: LiteCoin, Terra LUNA, Polygon, Algorand, Stellar Lumens and what have we… It's like they're leaning way too hard into pop culture with the names. If I were to name a new token, I'd probably call it something dull that prioritized seriousness - such as "Crown"; fx. "CrownChain" or the obvious "BitCrown". I guess I'm just fed up with weird geeky names for something people invest large sums of money into. "Yeah I put $20,000 into a crypto currency called Elrond, lol". Or am I just overthinking it? Isn't it time for the crypto space to mature just a tiny bit? [link] [comments] | ||
| Posted: 14 Dec 2021 03:17 PM PST I mean... Yes. Yes it was a glitch. Obviously. You didn't become the world's first trillion in the blink of an eye. I've seen at least like 50 people in this sub ask whether the spike was a glitch or not, and that's at least like 50 people who have decided to put a couple hundred or even thousands or even more dollars into crypto. And they have to ask whether such an insane spike in price is a glitch? Honestly, this is truly baffling to me. This kinda shows that a lot of people have put money into an asset they obviously don't understand to the slightest degree if they think every coin went up by a couple million percent. I truly hope you all (you know who) know what you're doing and that crypto will be good for you eventually. But right now it's looking kinda grim :/ Edit: thanks for the award! Or was that just a glitch?🤔 [link] [comments] | ||
| Shoot me but I don't want gaming and crypto to mix Posted: 15 Dec 2021 03:23 AM PST Quick backstory: I have been gaming since the 1990 (i.e. 30 years) and in crypto at least 3 years. I recently listened to long podcast on Crypto and gaming and how wonderful everything will be. I support wholeheartedly development and exploration of block chain technology for whatever purpose it can have. HOWEVER: I don't want gaming and crypto to mix. Because big brand companies will focus on useless shit like NFTs and attention will be drawn from quality game development (story lines, graphics, music or whatever). We will have Three arrows buying up rare items and hodling/reselling them for a profit. We will also have a lot shitty games with huge amounts of NFT's. Like the stupid skins and other items that started shitting in games. I am not talking about metaverses or whatever Zuck is up to... they can do whatever the f*ck they want. However I don't want to see RPG's, FPS and strategy games marketed for using "advance block chain" technology or whatever other marketing gimmick companies will try. Remember micro payments and that whole ordeal? Long story short: Leave gaming alone. [link] [comments] | ||
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| What industries / specific companies are you looking forward to crypto killing off? Posted: 14 Dec 2021 05:51 PM PST Everybody in this sub who isn't a troll assumes that crypto it's going to replace a number of different Industries, most obviously banking and especially money transfer companies. I was surprised to see the vehement excitement with which people in here greeted the assumed imminent death of Ticketmaster and its competitors at the hand of blockchain tech, but hurray for that! What other Industries or specific companies do you think crypto is going to kill off? Are there any that you're so confident it will destroy that you are shorting them? Are there any companies you just hope it will kill off because you hate them so much? Edit: is there any type of crime that blockchain makes impossible? [link] [comments] | ||
| Posted: 15 Dec 2021 12:54 AM PST Let me preface this by saying crypto was my first kind of investment. It was a few years back when I had the "everything will 30x" mentality. Reality slapped me across the face, 2018 bear run happened, my investment did not 30x, and I lost more than I care to admit. There's (obviously) brokers that deal with stocks and whatnot where I live, but nothing that would be available to me as I want to do it myself. Unless I'm a certified broker, I can't do it. Unless it's a minimum of XX amount, I can't do it. Unless I have plenty of time to do all the administrative stuff (go there, certify that, call them, sing this etc) I can't do it. So crypto was there, and I started. Few $/€ here and there. Now I've grown. I'm not pretending I know a lot about the tech, or the TA. Patterns? Too much for me. Or, better put, not reliable in crypto where a tweet from someone makes or breaks the market. But my point (oh, finally, he gets to his point) is - what is the alternative? Not invest in crypto? That's like refusing to use a mobile phone. Refusing to use the internet. Refusing to get a smart phone. There is no escape from this. It will make a significant part of our lives. You can look the other way for some time, but not for long. Every single investing "authority" said in the last year "you'd be foolish not to have crypto in your portfolio". Not that I trust them, but it shows that even the hardcore haters have come around. Sure, there are fads and scams everywhere. Which new technology did not have early adopter hiccups? Crypto is here. It's not going anywhere. And I'm here too. [link] [comments] | ||
| Bank of England labels Bitcoin ‘worthless’ as U.K. inflation hits 10-year high lmao Posted: 15 Dec 2021 03:12 AM PST
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| Posted: 15 Dec 2021 02:05 AM PST To begin, let me state that if you bought $100 or $1,000 in bitcoin when it was initially published, you are most certainly extremely wealthy today. But don't let that away from the fact that it raises you to the rank of someone who transferred $1,000 to an anonymous internet person in return for some miraculous beans. You'd be foolish not to invest in cryptocurrencies these days, but keep in mind that it's virtually entirely based on speculation, and much of your success is reliant on pure luck. Everyone is a brilliant investor in a bull market. Persons who post here claiming to be seasoned investing experts are almost always people who have struck it rich a few times. Play around with your Baron Rothschild memes, claiming that anybody who invests in cryptocurrencies would become a rich. This isn't the first time that a generation of young people has made a fortune by riding a wild speculation train. At the height of the dotcom bubble, people had the same mindset. "What do you mean, 25% returns in a year?" Those are figures from the scrubs. Anything less than 100% will not be tolerated!" We all know how that ride ended, and we all know how this one will finish. Whether it ends in a catastrophic bust or becomes a mainstream financial tool dominated by Wall Street, this ride will come to an end. While the high rewards are still available, take advantage of them. Finally, if you have the financial means, you can diversify your risk. Yes, having a wholly uncorrelated asset is the purpose of diversification. Diversifying in a completely other asset class is required because all cryptocurrencies are highly connected with one another. Investing in a different coin is not considered diversification; it's like saying you're diversifying by buying McDonald's and KFC. Thank you for your time, as usual. And Mery Christmas! [link] [comments] | ||
| Stop getting milked like cows. Posted: 14 Dec 2021 06:20 PM PST There are some aspects of crypto I think are absolutely necessary and can't wait to be using them in a mainstream way. And yes I am also talking about metaverses. But not the kind of crap I see pushed here everyday. The real projects we want and need are probably just being thought of today and will take several more years to be developed. "During a gold rush, sell shovels". So my best advice to you is to not buy every single shovel that is being sold here. Hoping it will help you find gold. It's not. You're being milked like a cow. When Axie Infinity took off dozens of low effort crypto games were mass produced trying to play in on the hype, trying to be the next big crypto game. Same with buying "land". It was suddenly everywhere. And you see this in all ways possible. First: the next Bitcoin or 'Bitcoin killer' same with all the 'Eth killers'. Every single day I'm on here I see 15 new DEX AMM orderbook DAO'S that'll be the last DeFi platform you'll ever need. STOP. They don't add anything. They are only trying to sell you their "magic gold finding shovel". We don't need 1200 yield farms, 1500 lending/borrow services and especially not the millions of wallets. I use exactly two wallets. One for cold storage and one for my day to day use. Sure it can be different for staking but this has been sufficient for all of my DeFi needs. Be weary in this place. Silver tongues making you believe you're the first to hear of this amazing new project that's absolutely going to blow up are everywhere. I see people hyping their shills but upon closer inspection it's made up of empty promises, vague descriptions of changing the entire industry and for that whole the world. But they don't add any value to the space and don't bring anything new to the table. There are projects out there I absolutely love and see a bright future for them. There are ideas I can't wait to see developed one day. But if we want this to succeed we need to stop being milked every step of the way. [link] [comments] | ||
| Posted: 15 Dec 2021 04:30 AM PST I found out today, after some really extensive (like serious) research, that absolutely every single crypto coin runs on the internet. ALL of them, 100% of crypto, EVERY SINGLE ONE....even DOGE!!!! And there's no other option available instead of the internet. What happens if the internet goes down or gets lost?
If the internet went down for even a day, we'd be unable to even check the charts for up to a day. We'd have to start making physical versions of crypto to swap in person for goods and services until the internet got better. We need to make crypto more decentralised so it can work even without the internet. [link] [comments] | ||
| Posted: 14 Dec 2021 08:18 PM PST
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