Cryptocurrency Daily Discussion - December 20, 2021 (GMT+0) |
- Daily Discussion - December 20, 2021 (GMT+0)
- Cryptocurrencies will not kill banks, but cryptocurrencies provide an alternative to people which will force banks to improve conditions for their customers
- I'm Not Looking at My Portfolio Balances Again Until 2022
- You wanted everything to be decentralised? That's what decentralised means. Deal with it.
- The government shouldn't tax Crypto unless they recognize it.
- Billionaire Ray Dalio reveals he holds ether, calls cash 'worst investment'
- If you opened your Vault, it’s time to close off your account with 2FA
- Why I'm bearish on CryptoCurrencies till BTC hits 42k again.
- Loopring (LRC) versus Polygon (MATIC)?
- A dormant address containing 235 BTC (11,114,901 USD) has just been activated after 9.1 years.
- Wage inequality continued to increase in 2020: Top 1.0% of earners see wages up 179% since 1979 while share of wages for bottom 90% hits new low. - But they still claim crypto is the problem, not the current shitty economic system.
- Worker pay isn’t keeping up with inflation.
- Crypto attracts more money in 2021 than all previous years combined.
- “Stablecoins can certainly be a useful, efficient, consumer-serving part of the financial system... if they’re properly regulated,” Federal Reserve Chairman Jerome Powel
- Terra Luna Overtakes BSC to Become the Second Biggest Chain in terms of TVL.
- Top altcoin mentions in the sub for the past 24h, a look into r/cc's most popular projects
- City employees could see cryptocurrency payroll conversion options next year, first in nation
- Technical Analysis Still Intact After 5 Months
- Harmony ONE continues its bull run and surges back towards its ATH
- Here's the list of Countries that don't tax crypto gains ��
- 12.5M in Eth futures liquidated
- Two historically green periods are about to begin: The Santa Claus rally and the January effect
- MetaPost: The State of NFT Gaming in 2021
- Binance does it again, refuses to pay out prizes won
| Daily Discussion - December 20, 2021 (GMT+0) Posted: 19 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: 19 Dec 2021 02:37 PM PST Like it or not, the banks are here and they are not going anywhere. They will always be here, doing their job which is fine. As much as cryptocurrencies have an impact on people, and therefore on banks, it is the governments that will not allow banks to fail. There will always be people who will use the banks. But due to the influence and growth of cryptocurrencies, banks will have to change their way of business. They will have to improve the conditions for their clients, because people now have an alternative, and that alternative sounds good. There are already people who have most of their money in cryptocurrencies, but all of them leave some in the bank or in fiat in case something with crypto goes wrong. Banks have been deeply ingrained in our society and our system for a long time. It takes time to crypto do the same but it will happen. If banks are going to go to war with cryptocurrencies, let them go. We know very well that nothing can happen to them, and competitive and evolving financial system benefits us all. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| I'm Not Looking at My Portfolio Balances Again Until 2022 Posted: 19 Dec 2021 04:59 PM PST I'm done for the holidays. I'm optimistic long term on crypto and have all the positions I want for the immediate future. But this current multi week slide is just exhausting and there is no reason for me to keep watching it. The market is going to do what the market will do. All these predictions about 4 year market cycles, blow off tops, etc. have been completely wrong and nobody knows......you know the rest of the saying. So Merry Christmas, Happy Hanukkah, Happy Kwanzaa or just Happy New Year if you don't celebrate any of those. Looking forward to seeing my balances on Jan 1. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| You wanted everything to be decentralised? That's what decentralised means. Deal with it. Posted: 19 Dec 2021 11:08 AM PST Why there's so many people crying and complaining about stuff being stolen, NFTs of artist's work being sold to make profits without even giving them a credit, rug pulls, scams, dodgy coins of doubtful origin, convoluted and overly complicated processes for IDOs to take part in, high fees and complex smart contacts that drain your wallets. I can probably go on and on and on. I thought this sub wanted full decentralisation, no? You wanted things to be decentralised. That's what decentralised means. And that's what you get. You've sent your coins to a wrong wallet? Well, it's gone now. It's your fault. Your not getting it back. Shouldn't have clicked on those random links. You just got rug pulled? Should have done your research more carefully instead of trusting some random YTbers. This is just a simple reminder that crypto is still operating largely in decentralised manner. Yes, regulators are coming after us. When? Who knows. In some countries sooner, in other countries maybe little later. But right now it's pretty much a wild west. Accept it. Or you know, go and save money with your bank at 0,05% [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| The government shouldn't tax Crypto unless they recognize it. Posted: 19 Dec 2021 07:08 PM PST I'm from a country where Crypto is not recognized by the government and therefore I do not have to pay any tax on my Crypto. This should be so far the policy for the rest of the governments. Because, taxing something you don't recognize as an asset of value seems very off. It's not like the government does anything for the Crypto market either. The crypto market is an independent market unlike the stock market or a Fiat currency as stocks and other traditional markets are usually bailed out and kept stable by the government. A government that provides nothing to Crypto, refuses to recognize crypto as payment and yet expects all Crypto users to pay a tax on the same asset is just hypocritical. TLDR: If a government refuses to fully recognize something as an asset, it should not turn around and make money off of it. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| Billionaire Ray Dalio reveals he holds ether, calls cash 'worst investment' Posted: 19 Dec 2021 06:38 PM PST
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| If you opened your Vault, it’s time to close off your account with 2FA Posted: 19 Dec 2021 07:54 PM PST With Reddit expanding their karma = tokens cryptocurrency experiment while simultaneously applying for an IPO(becoming a publicly traded company), now more than ever you need to setup Two Factor Authentication (2FA). Eyes are on Reddit now, in fact eyes might even be on your vault. So if you want to keep those precious moons you earned while shamelessly shitposting, you need to setup 2FA yesterday. You can setup 2FA easily through settings, you can use Authy or Google, both work fine. I'm sure many of you don't protect your Reddit accounts with the best password, and I'm equally sure many of you signed up with an old email that you barely even use anymore, how strong is that password? Don't become a sob story post. Protect your Moons. TL:DR [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| Why I'm bearish on CryptoCurrencies till BTC hits 42k again. Posted: 19 Dec 2021 11:47 PM PST Allow me to explain, BTC has had a major push to 69K on 10Th November, since then we've been slowly bleeding to as low as 42k. Sure we had a few pull backs but nothing major, and every time we get a pull back it doesn't really break any resistance points. Historically during every dip since may, we get flash crashes but we can also see a retest to those levels before any significant rallys to the upside. BTC crashed to 30k in May, then retested those levels after two months of crab market, leading to a 29.4k drop before rallying to 50k. BTC dipped again on launch of El Salvador's wallet, from 52k to 46.8k, which was again retested 13 days later. And now we have a 42k wick, but haven't retested the level yet, which is why I'm expecting a dip to the downside before any significant rallys. History often doesn't repeat itself, but it rhymes.
Edit: Apparently I'm getting downvoted for having normal conversations, thanks r/cc. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| Loopring (LRC) versus Polygon (MATIC)? Posted: 19 Dec 2021 06:35 PM PST I'm curious as to your thoughts on which one will outperform. I don't have any LRC, yet MATIC makes up 30% of my portfolio. I'm considering moving half of my MATIC to LRC. Polygon info: Polygon (MATIC) is the native cryptocurrency that powers the Polygon Network, a layer 2 platform created in 2017. Originally called the Matic Network, the Polygon Network allows developers to create and deploy their own blockchains that are compatible with the Ethereum blockchain with a single click, as well as enables other Ethereum-based projects to transfer data and tokens between one another using the MATIC sidechain. Think of it as a smaller blockchain that runs in parallel with the Ethereum blockchain. Loopring info: Loopring is a software running on Ethereum that aims to incentivize a global network of users to operate a platform that enables the creation of new types of crypto asset exchanges. One of an emerging number of decentralized finance (DeFi) protocols, Loopring uses multiple cryptocurrencies, including its own LRC cryptocurrency, to together provide for this platform. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| A dormant address containing 235 BTC (11,114,901 USD) has just been activated after 9.1 years. Posted: 19 Dec 2021 06:24 AM PST | ||||||||||||||||||||||||||||||||||||||||||||
| Posted: 19 Dec 2021 05:06 PM PST
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| Worker pay isn’t keeping up with inflation. Posted: 19 Dec 2021 04:28 PM PST
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| Crypto attracts more money in 2021 than all previous years combined. Posted: 20 Dec 2021 12:22 AM PST
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| Posted: 19 Dec 2021 05:16 PM PST
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| Terra Luna Overtakes BSC to Become the Second Biggest Chain in terms of TVL. Posted: 19 Dec 2021 05:25 PM PST Data from DeFi Llama reveals that Terra Luna has continued its wild growth, becoming the second largest blockchain in terms of total value locked. Terra is also built on the Cosmos Network, allowing for more scalability, low transaction costs and high throughput. Current Rankings *Ethereum (ETH): $150.02b *Terra (LUNA): $17.07b *BSC (BNB): $16.55b *Solana (SOL): $11.88b *Avalanche (AVAX): $11.83b Let's look at some of the main reasons for this unprecedented dominance and where the TVL is coming from. UST "One of the major developments from the network's Columbus-5 upgrade in October is a new design for keeping stablecoins pegged to their fiat value: whenever UST is minted, LUNA with the same amount of value is burned." As a result, at least 93 million Luna tokens have been burned in the production of UST. Not only does UST have clear backing, users can also use that UST to lock in to multiple DeFi offerings with great incentives. DeFi Protocols and User incentives Astroport recently launched a 'lockdrop' event that allowed users to lock Luna is order to receive a drop of the ASTRO token. This has led to more demand for Luna as users look to get a higher reward payout. Anchor, the biggest protocol on Terra Luna allows for users to receive up to 20% back on their staked UST. This is one of the best APYs available on the market for stablecoins, and has helped add to the high rate of TVL locked by Luna. Abracadabra.Money, a multi-chain decentralized lending platform, launched a yield earning product called Degenbox earlier this month. The product allows users to deposit UST as collateral in order to receive yields. TLDR: Luna is fast and cheap compared to other top Layer 1 Blockchains. It offers the UST stablecoin, which burns Luna each time it is created. Luna offers DeFi Protocols that give users great incentives. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| Top altcoin mentions in the sub for the past 24h, a look into r/cc's most popular projects Posted: 19 Dec 2021 11:29 AM PST
This post was made with data available at https://www.memebergterminal.com/cryptos/subreddits/cryptocurrency [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| City employees could see cryptocurrency payroll conversion options next year, first in nation Posted: 19 Dec 2021 08:14 PM PST
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| Technical Analysis Still Intact After 5 Months Posted: 19 Dec 2021 10:01 PM PST
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| Harmony ONE continues its bull run and surges back towards its ATH Posted: 19 Dec 2021 12:05 PM PST Despite the market being in the red, Harmony has completely surged from its lowest value since the latest Bitcoin $42K crash. The coin's value has stayed extremely strong compared to some of the ones in the top 10 and ever since the crash it's gone back up approximately 62% I am pretty confident, though unsure on when, that Harmony is looking to have the same breakout cycle as Cardano from 2020 at this point. For comparison, it has roughly the same market cap as Loopring (LRC) Back in November, the Harmony team announced it could handle up to 4x the normal traffic it could previously. This means lower fees and higher speeds on the network. There has been quite a huge bull surge for Harmony since Thursday. This coin has already gone past multiple resistance levels since the latest Bitcoin crash as well. Is anyone else extremely bullish on Harmony ONE? Out of all the coins in the top 100, you're most likely missing your chances with Harmony being one of those that are most likely to get into the top 30 and beyond. EDIT: Fixed the percentage as an average across most coin trackers. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| Here's the list of Countries that don't tax crypto gains �� Posted: 19 Dec 2021 03:03 PM PST 1. BELARUS Belarus is taking an experimental approach to cryptocurrencies. In March 2018, a new law legalized cryptocurrency activities in the East European state, exempting individuals and businesses involved in them from taxes until 2023 (when it will come up for review.) Under the law, mining and investing in cryptocurrencies are deemed personal investments, and so exempt from income tax and capital gains. The liberal laws aim to boost the development of a digital economy, and technological innovation. The country was recently ranked third in Eastern Europe and 19th globally in levels of P2P crypto trading. - GERMANY For German residents, any cryptocurrency held for over a year is tax-exempt, regardless of the amount. If the assets are held for less than a year, capital gains tax doesn't accrue on a sale, as long as the amount does not exceed 600 euros ($692). However, for businesses it's a different matter; a startup incorporated in Germany still needs to pay corporate income taxes on cryptocurrency gains, just as it would with any other asset. - HONG KONG It isn't a country per se, but a Special Administrative Region of China, with theoretical autonomy over its own affairs. And Hong Kong's tax legislation on cryptocurrencies is a broad brush affair, even after new guidance was issued in 2020. - EL SALVADOR Bitcoin is their legal tender lol - MALAYSIA In Malaysia, cryptocurrency transactions are currently tax-free, and cryptocurrencies don't qualify for capital gains tax, because digital currencies are not considered assets or legal tender by the authorities. - MALTA The government of the so-called "Blockchain Island" recognizes Bitcoin "as a unit of account, medium of exchange, or a store of value." Malta doesn't apply capital gains tax to long-held digital currencies like Bitcoin, but crypto trades are considered similar to day trading in stocks or shares, and attract business income tax at the rate of 35%. However, this can be mitigated to between five percent and zero, through "structuring options" available under the Maltese system. - PORTUGAL Portugal has one of the most crypto-friendly tax regimes in the world. Proceeds from the sale of cryptocurrencies by individuals have been tax-exempt since 2018, and cryptocurrency trading is not considered investment income (which is normally subject to a 28% tax rate.) However, businesses that accept digital currencies as payment for goods and services are liable to income tax. - SINGAPORE Capital gains tax does not exist in Singapore, so neither individuals nor corporations holding cryptocurrency are liable. - SLOVENIA Slovenia is another country that treats individuals and businesses separately under its cryptocurrency tax system. - SWITZERLAND It's no surprise that Switzerland, home to the innovation hub known as "Crypto Valley", has one of the most forward-thinking tax policies too. Cryptocurrency profits made by a qualified individual through investing and trading are treated as tax-exempt capital gains. - BERMUDA There's another type of country that doesn't tax cryptocurrency gains, of course; tax havens where digital assets aren't singled out for special consideration, but which have a blanket low-tax regime. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| 12.5M in Eth futures liquidated Posted: 20 Dec 2021 12:09 AM PST
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| Two historically green periods are about to begin: The Santa Claus rally and the January effect Posted: 19 Dec 2021 10:51 AM PST We are about to enter two periods that have historically been good for investments.
Why these green times often occur around end of December and January, is a but unclear, but it may be related to more bullish retail investors dominating the market in late december (compared to institutional investors), and the US tax year ending 31st december. Of course who knows if this is going to hold this year, especially with Omicron making things extra unpredictable. But these two historical trends put together with these last weeks kind of looking like the dip we had in september which trampolined us into new ATH's, I think now may be a good time to invest into BTC and ETH. Just a thought, and not financial advice. You can read more about the Santa Claus rally and january effect here: Santa Claus rally: https://www.investopedia.com/terms/s/santaclauseffect.asp January Effect: https://www.investopedia.com/terms/j/januaryeffect.asp https://www.schroders.com/en/insights/economics/does-the-january-effect-really-exist/ [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||
| MetaPost: The State of NFT Gaming in 2021 Posted: 19 Dec 2021 09:26 PM PST
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| Binance does it again, refuses to pay out prizes won Posted: 20 Dec 2021 01:23 AM PST I'm frankly sick of the way Binance is treating people, with misleading mini-games that are a net-loss for every play (i'm looking at you battles) or shitty contests, poor support and poor handling. Today Binance launched a new campaign in Australia:https://www.binance.com/en-AU/blog/all/binance-australia-spin-the-wheel--up-to-$15000-worth-of-prizes-to-be-won-421499824684903185 People jumped on, playing and spending their hard-earned money at these contests where each spin is worth roughly $200 USD trades. The mistake? Turns out they screwed up the weights for prizes. Additionally, some conditions of the contest were completely bugged and no matter how much you spent, you'd never get the ticket (USDT condition to spend more than X amount). They even had the balls to accuse people of trolling, this being the admin & "Operations and Community Management." The contest has been ended prematurely, the telegram group closed for messaging and all have been told the following: Due to an overwhelming response to "The Binance Australia Spin the Wheel: Christmas Edition" campaign, our system has encountered a technical issue that has, unfortunately, prompted us to conclude the campaign. This could have been found with a _VERY_ simple QA run, instead of taking responsibility anyone who had won prizes or used their money to get a spin is now out of luck and won't receive their lost spins OR prizes(which they are legally obligated to give). Australia has strong consumer protections against this kind of thing, and they will completely disregard it because they can sweep it under the rug and ignore our local laws that they're obligated to follow. I am one of those people. I lost over $50(maybe more) on this contest and I'll be walking away with nothing due to their mistakes. [link] [comments] |
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