Cryptocurrency Daily Discussion - December 18, 2021 (GMT+0) |
- Daily Discussion - December 18, 2021 (GMT+0)
- Coinbase has become the new Robinhood. They're artificially withholding Algorand withdrawals because of liquidity issues and do not want to lose out on their governance rewards. It has been over 24 hours now and they're pretending it's a technical issue.
- On its first ever NFT sale, someone already scammed Adidas by bypassing 2 NFT per wallet restriction using a smart contract trick thereby profiting by over $600k. Welcome to crypto, Adidas.
- What is you crypto goal? Mine is living off passive income.
- I got in for the money but stayed for the tech. Crypto technologies are AMAZING!
- Binance is starting to feel more and more like a casino
- Fear and Greed index at Extreme Fear - 24 Time to Buy!
- No-one likes to talk about this, but you should teach your partner, kids or a trusted person, how to access your crypto in case of your death
- Nearly 40% of Banks Will Offer Crypto Services Within 3 Years, New Survey Shows
- On may 24th CEO of one of the largest bank in the world - HSBC publicly said that crypto lacks transparency and later it's UK branch started to block payments to Binance. Yesterday same British HSBC branch has been fined £63.9m by the UK's financial regulator for money laundering!
- 80% of all dollars in existence were created in the last 2 years. This is why I closed all my bank accounts. Bitcoin is my savings account
- Crypto is enabling everyone to do what billionaires are able to do at a smaller scale. Crypto is more than just a 'legal tender', it's an appreciating asset. I'll explain the basis of this economics briefly.
- RossDAO raised 2836 ETH to help kids of incarcerated parents and to help with clemency for Ross. The Power of DAOs!
- Nancy Pelosi on Congressional insider trading:“This is a free market, and people — we are a free market economy,” They hate crypto because they can't cheat at it......Yet ������
- The Ultimate Guide to Rollups - A very interesting read if you're interested the future. Blockchains Architectures and the latest innovation, ZK-Rollups.
- Cryptocurrency is turning me into an Anarchist
- What is NEO and why you should know about the NEO blockchain
- Crypto.com to remove CoinMarketCap unreliable price feed from their product
- Reddit Co-Founder Creates $200M Fund With Polygon for Web 3, Social Media
- Have You Ever Heard of NFTs ?
- Anybody else in here numb to dips?
- Sneaky fucks——JPMorgan hit with $200 million in fines for letting employees use WhatsApp to evade regulators' reach
- 15 days of fear!
- Anyone else getting bullish vibes from the US govs view on crypto?
- Just because you didn't make a profit in a month or two doesn't mean you should give up on Crypto as a whole. The longer you stay in Crypto, the richer you'll get. Have patience.
- Michael Saylor says bitcoin doesn't need Warren Buffett's support — and notes Microsoft has thrived without the investor's backing
| Daily Discussion - December 18, 2021 (GMT+0) Posted: 17 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: 17 Dec 2021 03:06 PM PST My guess is Coinbase is running on fractional reserves and doesn't wanna lose out on it's governance rewards so they are artificially delaying withdrawals of ALGO. I don't know about you guys but after I get my ALGO's withdrawn I'm finding an alternative to CoinBase. They have officially lost my business which is a shame because I've used them since getting into crypto. They did this exact same thing before the 1st governance period in September and people lost out on signing up. This is no different than what Robinhood did with GME stock. It just shows that CEX's need regulation desperately and we're currently at the mercy of Coinbase assholes. There have also been other strange things between Coinbase and Algorand. For the longest time they had Algorand listed as an ERC-20 token. Additionally they commonly do not post updated/correct news for Algorand. A few days ago they listed Securitizes Tokenization of Down Jones Index Funds as happening on Ethereum instead of Algorand, since then they've taken it down from Ethereum but haven't posted it to Algorand news. This all smells a bit fishy. I have been having this feeling for a while that coinbase is deliberately trying to undermine Algorand. Does anyone know of a good alternative to Coinbase and Binance in the US? EDIT 1: They canceled my withdrawal after over 24 hours pending and said "Blockchain transaction was compensated". I'm wondering if I should try to withdraw again or convert to another coin and transfer off. EDIT 2: Tried withdrawing again and it canceled almost immediately and said the same thing "Blockchain transaction was compensated." I'm pretty sure they still took my .002 ALGO transaction fee though. CB is fucking us over royally. EDIT 3: Tried withdrawing once more, instant withdrawal cancel with same reason as before. I'm done trying to withdraw tonight. Will try again tomorrow in the AM and update the post. [link] [comments] | ||
| Posted: 17 Dec 2021 08:46 PM PST | ||
| What is you crypto goal? Mine is living off passive income. Posted: 17 Dec 2021 05:27 PM PST We all have our various goals in Crypto. Some of us wants to buy a house. While others just want some fu*k-you money or a nice Lamborghini. I for one just want to have enough crypto to live off my passive income. Imagine the time when your crypto has pumped so hard and you have kept dollar costing average throughout all the years. One day she'll come. Imagine every month you do not have to go to work, you only go to work because you want to not you need to. This is all because you have generated enough passive income from staking or lending crypto alone. That is the dream that is what I want and I hope that is what all of us can achieve. This way we won't just be rich, we will be wealthy. [link] [comments] | ||
| I got in for the money but stayed for the tech. Crypto technologies are AMAZING! Posted: 18 Dec 2021 12:38 AM PST Even while I still enjoy the money, it's a wonderful reward, it's the technology that keeps me engaged! All of these crypto techs provide a domain in which these antiquated systems may be upgraded in a fashion that is more efficient for information access, transparent and verifiable, and safe. The technology makes investigating projects more intriguing, however, it's a shame that nowadays, the buzz may attract far more investors than a good concept. It's also challenging to find the appropriate one. Here are some examples: I'm currently holding ALGO, ETH, and XLM, ANATHA and even staking with Binance and Celsius.
For the time being, we must DYOR and pay attention as only time will tell whether which one is correct. So there you have it. Money is fantastic. Don't get me wrong: I enjoy a good profit. But there are a few of us here who stayed for the technology. [link] [comments] | ||
| Binance is starting to feel more and more like a casino Posted: 18 Dec 2021 12:29 AM PST All those Christmas tasks, tickets , spin the wheel etc. that keep spamming my inbox and the app. This is very bad for crypto mass adoption: First of all, it makes it look like fake internet money, like coins you win in mobile games. Also, it adds to crypto looking like gambling and risking your money and not as an investment/technology with a real use case. I realize Binance is a money making machine and that's their way to make you waste more money and that is fine, but I think they're going too far and this is getting annoying. [link] [comments] | ||
| Fear and Greed index at Extreme Fear - 24 Time to Buy! Posted: 17 Dec 2021 09:33 PM PST I was just checking on the fear and greed index and I saw that it was at "Extreme Fear" of 24 and of course I thought "hmmm why is that?"
That was one long and painful slide and there you have it, the reason for the "Extreme Fear" As to what I would buy: You buy U.S. Steel (an old joke), uh I mean, you buy foundational blockchains: BTC, ETH, SOL, DOT, POLY/Matic, AVAX, BNB [link] [comments] | ||
| Posted: 18 Dec 2021 01:05 AM PST No one likes to talk about such tragic events but the fact is that if you don't prepare for the worst, all your effort to achieve something greater, will be in vain. There are tens of billions worth of BTC gone because the owners passed away or simply forgot the keys. All that you did, for nothing. We usually invest alone. Of course, wives, husbands, partners, kids, and other trusted persons may know how much we have invested and what assets we hold, but rarely do they have the knowledge to actually access those investments. Ask yourself, do they know how to set up a wallet and unstake your crypto? Or access polkadot crowdloans? Liquidity pools? Even stuff like exchanges.. That's why it's imperative to set up a plan for those who you want to leave your crypto in worst case. Please don't sleep on this, it's too important to ignore. Be safe my guys and girls and have a wonderful weekend! [link] [comments] | ||
| Nearly 40% of Banks Will Offer Crypto Services Within 3 Years, New Survey Shows Posted: 17 Dec 2021 07:11 PM PST
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| Posted: 18 Dec 2021 02:51 AM PST This is the clear example of hypocrisy at its finest! Seven month before their CEO Noel Quinn publicly announced that HSBC will not be offering any services related to Bitcoin and crypto entirely to its users and linked his decision to the "lack of transparency" and high volatility in the cryptocurrency industry. As per Quinn, it is impossible for an agency to tell who owns the crypto, and hence everything depends on whether the holders can be "trusted in regard to market integrity." And yesterday karma hit them back, the same fucking swindlers are fined £64m for anti-money laundering failings. Actually, initially they were fined for £91m though since HSBC not disputed the findings and agreed to settle it was cut down to £63.9m. HSBC's failings cover a period of eight years, from 2010 to 2018, the FCA said. The FCA's report into HSBC cites examples of poor controls, including failing to spot suspicious activity on the account of a construction director who also played a leading role in a criminal gang trying to steal millions of pounds by setting up fake companies. The person pleaded guilty to VAT fraud and went to prison. HSBC also failed to detect a customer imprisoned for smuggling cigarettes into the UK and ordered to pay £1.2m by the HMRC tax office, where the bank missed "a sustained period of unusual activity," the FCA said. For those who did not know, in 2012 after an investigation by the US Department of Justice the same bank paid $1.9bn fine (£1.4bn) for laundering money of Mexican drug cartels, circumventing the rules designed to prevent dealings with Iran, Burma, North Korea and being financed by terrorists from Middle East. So dump fucking HSBC shares if you have any and buy crypto and if you wonder, yeah this is financial advice. [link] [comments] | ||
| Posted: 17 Dec 2021 10:18 AM PST Just take a look at this chart. It looks like some shitcoin on pancakeswap. Sadly it's not a pump and dump. It's pump only. https://fred.stlouisfed.org/series/M1SL M1 is the total circulating currency supply in the economy outside of treasury consisting of physical currencies and checking deposits. At the beginning of the Covid pandemic the M1 money supply which is known as narrow money was $4 trillion USD. The current M1 money supply is $20 trillion USD. It's gone up five times over in less than 2 years. If you're wondering why prices of basic goods are skyrocketing it's because there's now five times more dollar supply. In this situation congress is about to raise the debt ceiling again by 2.5 trillion dollars. US debt is already over 30 trillion. Bitcoin's monetary policy hasn't changed even once since 2008 and it never will. It keeps working flawlessly based on pure math instead of someone constantly meddling with it. I'm done playing their game. If the players all quit, their game is over. It's that simple. [link] [comments] | ||
| Posted: 17 Dec 2021 04:54 PM PST You guys ever heard of the stories that Bezos, and Musk aren't paying income taxes? This is because they are asset rich, not rich by income. Therefore, they used the loophole of accumulating assets, and then using those as collateral to apply for loans from banks. Loans are not taxable, and therefore, they will keep doing this to accumulate more assets to repeat the cycle. It's commonly known as "Buy, Borrow, Die." They Buy assets. They Borrow money. The Die and leave the inheritance to their family with minimum payment if not at all to the banks. Where does crypto go from this point onward? It enables everyone to do the same thing- except that it is from a smaller, variable scale. This is because crypto creates a lower barrier to entry for users to get access to appreciating assets. There has been some discussions on 'Stable-coins' is the way to go as a payment currency. Well, not entirely true but it's not wrong either. What crypto brings is liquidity to your assets. It's like having a piece of land in Central London, and being able to sell it in fractions to buy yourself a burger. The same principle should be used for crypto. Crypto is an intangible asset and it is not just a legal tender, and it's much more liquid than tangible land. Technically, you can pay for your burgers with your cryptos, but in essence, maybe you shouldn't. Billionaires don't get wealthy by hoarding fiat. They collect assets, and then use them to apply for loans which are not taxable. They collect appreciating assets. Crypto enables everyone to do the same thing. You don't sell your assets unless you have to- but crypto allows you to now accumulate more assets. In terms of functionality- just because you can, doesn't mean that you should. It will not be long till we can use our Crypto as collateral to apply for loans at conventional banks. When that moment comes, you can then Buy Crypto. Borrow money. Then, Die and leave your crypto to your family. The cycle is enabled. [link] [comments] | ||
| Posted: 17 Dec 2021 02:24 PM PST
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| Posted: 17 Dec 2021 07:56 PM PST
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| Cryptocurrency is turning me into an Anarchist Posted: 17 Dec 2021 05:36 PM PST Banks exist to profit from the savings of people who don't know enough or can't afford to invest in appreciating assets. It would be one thing if they were better regulated but they're all over the place advertising and sucking people in. Meanwhile - legitimately benevolent Web3 developers are creating DAOs like Olympus and Invictus to pass on the ACTUAL benefit accrued with better business practices and community minded banking. Well that's fine we can just use DAOs to accumulate enough wealth to steamroll the current banking system right? Heck no. Governments are now flailing about, taxing the ever living crap out of successful Web3 investors. If this was in good faith and they were actually trying to protect us or use the profits effectively it would be fine. It really just feels like it's out of confusion and fear of decentralization though? Are these sentiments inundating anyone else as they start diving deep into these pools of discounted DeFi entry points? Do I need to tame my inner-anarchist before I start taking profits? I'm worried arson will make its way onto the table if I don't act. [link] [comments] | ||
| What is NEO and why you should know about the NEO blockchain Posted: 17 Dec 2021 06:06 PM PST NEO blockchain was launched in 2014 (was called Antshares back then, changed to NEO in 2017). NEO uses decentralized Byzantine fault tolerant (dBFT) consensus mechanism (modified proof-of-stake protocol1). NEO blockchain has a two token system (unlike Ethereum blockchain which has only one native token): NEO and GAS. GAS is the token that is used to pay for network fees, smart contract deployments, and in dApp purchases2. You can only hold and transfer whole number (i.e., 0, 1, 2, 3....) of NEO tokens (you can have fractional NEOs but that is a story for another post) however, you can have fractional quantities of GAS. Why you should learn about NEO? Short answer: NEO is a beast. Long answer: NEO has recently launched the NEO3.0 network which has the following properties: i. 30,000 TPS (transactions per second). For comparison, Ethereum and Solana networks currently have 13 TPS and 50,000 TPS, respectively. ETH2.0 is expected to have 100,000 TPS (around 1.5 years from now)3. ii. NEO pays you rewards for hodling NEO in your wallet. You don't have to stake it anywhere. You get GAS rewards directly in your wallet. ATM rewards are 14.37 % 4. iii. NEOFS (NEO file system) : Data can be stored on the NEO blockchain in a decentralized and secure manner. This is a building block for web3.0 applications, where you do not need to store your data on centralized servers. Each NEO held gives you a file storage space. You can also lend out your space and earn GAS rewards. iv. Make a smart contract in any programming language you like. Unlike the Ethereum blockchain where you have to write in solidity, you can write smart contracts for the NEO blockchain in C#, Go, Python, Java, or TypeScript. v. NEO NAME SERVICE (NNS): Similar to Ethereum name service. You can have a domain (myname.neo) instead of the long hash address. vi. INTEROPERABILITY : Cross-chain interactions ( Bitcoin, Ethereum, Binance Smart Chain, Elrond, Zilliqa, Huobi Eco Chain, Ontology, Switcheo and other Cosmos-based blockchains ) can be executed using NEO blockchain. I have not explored this, thus can't write much about it. References
Not so important stuff: Why a dual token model? If you have a single token, for example ETH, you spend your ETH when you interact with smart contracts on the Ethereum blockchain. But in case of NEO blockchain, you can think of NEO as your stake in the NEO network. If you want to interact with the network, your stake (or share in the company) should not diminish. You pay for the transaction fee in GAS. That's why having a dual token model helps. [link] [comments] | ||
| Crypto.com to remove CoinMarketCap unreliable price feed from their product Posted: 17 Dec 2021 09:53 AM PST
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| Reddit Co-Founder Creates $200M Fund With Polygon for Web 3, Social Media Posted: 17 Dec 2021 07:09 AM PST
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| Posted: 17 Dec 2021 07:00 PM PST
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| Anybody else in here numb to dips? Posted: 17 Dec 2021 05:24 AM PST Red day here, red day there, who cares? I seriously don't understand how people are still worried about even 30% dips. In stocks, yeah I'd be concerned. Crypto? Pfft that's a Friday. The only people who should be sweating are day-traders. In my opinion, no one should day trade. It's these worrisome people who have trading bots that panic sell for them and with a large enough collection of them, change up the market with a negative 'snowball effect'. I personally am long on Crypto as I believe most should be at this point since we, for the most part, are relatively still early. [link] [comments] | ||
| Posted: 18 Dec 2021 01:10 AM PST
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| Posted: 18 Dec 2021 12:29 AM PST With the bitcoin fear and greed index now down at extreme fear (24) and with 15 consecutive days of either fear or extreme fear. Remember: 'when the market is greedy be fearful but when the market is fearful be greedy' If this is a fearful market and we are still where we are numbers wise, I have no problem with that. I certainly have not and will not sell any day soon, I have added 30% to my portfolio from its ATH, trading that FIAT for better things. Remember to zoom out, don't over extend yourself and try to be patient, if it's your first cycle, patience is definitely key! HODL. [link] [comments] | ||
| Anyone else getting bullish vibes from the US govs view on crypto? Posted: 17 Dec 2021 10:30 PM PST Obviously I'm a US citizen and this post is only referring to the United States, because as far as I'm aware, there are no other countries outside of the US, Canada and maybe Mexico I think it's called? After watching last weeks 5 hour hearing between crypto CEO's and Congressmen/women, I can't help but feel excited. It was obviously only the very first step towards meaningful legislation, but the way the hearing unfolded made me pumped the fuck up. Most of the questions asked seemed to be focused on how the government could legislate crypto in a manner that would benefit both crypto and the government. Although my political beliefs tend to align libertarian, I'm also a realist and know that having the US government supporting crypto to some degree is pivotal for our long term success. Combine this with the recent news of JPow saying he doesn't see crypto as a threat to the US dollar, and it seems as if politicians are taking an open minded approach to crypto. We're still very early and could see the gov crack down and try to seize control and attempt to centralize it, however those aren't the vibes I got from the hearing. I may be completely off base here and reaching for straws, but I thought the hearing went very well from a crypto investor point of view. Everyone saw the video of brad Sherman attempting to mock the space, but he was one of very few that took that stance. It seems to me as if politicians realize they are too late to implement regulations that can seriously damage the crypto movement, so they are seeking avenues to benefit from it without pushing the money to overseas competitors. At this point in time, it seems like a best case scenario. I can't stress enough that I am not a big gov advocate, and I'd prefer they keep their greasy paws as far away from crypto as possible, but I know that simple can't and won't happen. It'll be interesting to see what comes out of the next few moments. Please note that these are the drunken ramblings of a humble idiot. I'd love to hear opposing viewpoints! [link] [comments] | ||
| Posted: 17 Dec 2021 01:14 PM PST In every single dip up until the all-time-high, and now the current dip, It's hard to see people panic over a dip of -2% a day. It's even worse when people just give up on Crypto as a whole just because they didn't make a profit after being in it in a month or two. What people forget is, Crypto IS A LONG TERM asset. The harsh truth is, Crypto does not guarantee you a green portfolio every day of the week. However, the magic of the Crypto market is that it can completely erase weeks of losses in a matter of days like we've seen after every dip this year. This is why experienced Crypto investors almost never sell and instead accumulate more during any dips. TLDR: You won't make a profit every single day. However, in the long term, the profits are always going to outperform any short term losses. The longer you stay in Crypto, the richer you'll get. Always have patience! [link] [comments] | ||
| Posted: 18 Dec 2021 01:14 AM PST
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