Cryptocurrency Daily Discussion - December 6, 2021 (GMT+0) |
- Daily Discussion - December 6, 2021 (GMT+0)
- Tether (USDT) created $1,500,000,000 Worth of USDT Out of Thin Air in the Last 24h: Nothing of it is backed by actual Cash
- Anyone else not give a single shit about this “crash”?
- Not everybody has 'buy the dip' money.. and that's OK
- Luna didn't care about the crash and is now a top 10 cryptocurrency
- $13 million of stolen ETH is being sold right now after the BitMart hack - watch it live
- Seatgeek CEO Jack Groetzinger: nearly 100% of all tickets will be NFTs in the next 5-10 years
- No, Tether did NOT just mint 1.5B "Out of thin air" - Audit linked
- This will blow your mind. Exactly 100 years ago in December 1921, Henry Ford proposed to replace gold with energy currency and stop wars
- I made a crypto trading bot that takes advantage of Kucoin listing announcements
- IMF, Governor of the British Central Bank "Not happy" because El Salvador adopted Crypto | Bukele responded to the governor of the British central bank by stating, “I’m really concerned about Bank of England printing money out of thin air.” Nayib Bukele is a chad.
- NFT bear market will obliterate the NFT holders
- I don't think anyone in this sub actually sold their position during the dip - we are all too indoctrinated by our own repetitive mantras to be even faced by it, this was market manipulation only.
- Algorand rally in the recent dip
- How much further down the crypto rabbit hole can one go?
- There's some mad lad out there with tons of money that created the 69,000$ ATH and 42000 dip.
- Giving my moons to charity.
- Crypto influencers are not your friends and they are not giving you a secret "once in a lifetime" chance to get rich.
- There’s a reason people say “Don’t invest more than you can afford to lose”
- After losing $8,000 in an altcoin scam, one man started a group that hunts down crypto frauds
- Cardano Is Set for Long-Term Gains Based on Its Development Roadmap
- Ethereum balance on exchanges reaches 3 year low!! Bullish AF
- Everyone is talking about how the "crash" has recovered and we are back to normal but am i the only one sat here thinking this dip is about to drop again before it recovers
- SEC Chair Gary Gensler shows his true colors by saying Bitcoin has disrupted the global banking system
- CRO is in fact a lot more interesting than BNB.
- What advice would you give to a new-comer looking to participate in the crypto ecosystem?
| Daily Discussion - December 6, 2021 (GMT+0) Posted: 05 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: 05 Dec 2021 05:23 AM PST In the last 24 hours Tether, the creator of USDT, has minted $1,500,000,000 worth of USDT out of thin air. Nowhere it is documented where the money which was just created comes from and where it actually went. Before 2019 Tether claimed 100% of its reserves would be backed by actual cash Suddenly in April of 2019 Tether claimed only 74% of Tether would be backed by "cash and cash equivalents" A pie chart (yes, this is how they want to proof their reserves) released by Tether in 2021 revealed that only 2,9% would be backed by cash How much of it is actually backed of the $1,500,000,000 they somehow created in less than 24 hours? You can probably guess [link] [comments] | ||
| Anyone else not give a single shit about this “crash”? Posted: 05 Dec 2021 05:11 AM PST If you're actually investing and not just gambling you should know that we're still in the very early days of all of this. I wouldn't be surprised at all if 10-20 years down the road we are all using coins that we haven't even heard of yet. I guess my sentiment here is that the front page of r/CryptoCurrency is full of fear coddling posts. If you are actually INVESTING in the tech, you shouldn't be worried. But if you threw half your bank account into shib and are hoping to retire then I don't know what to tell you. TL:DR THE GAINS HAVE BEEN ORERED, ESTIMATED SHIPPING TIME: 3-10 YEARS [link] [comments] | ||
| Not everybody has 'buy the dip' money.. and that's OK Posted: 05 Dec 2021 06:04 AM PST You've heard it before. "Bull markets make people money and bear markets make people rich" "This is what we are waiting for! If you're not buying now you're a fool!!" "YES I dream of this stuff! Chips and dip!!" Believe it or not, some people don't have the fiat to throw in at a moment's notice. Especially with the holiday season coming, things are tight for many. Some bought in a couple weeks ago which some now consider 'high' (it's not). Don't feel the need to rub it in "Glad I didn't buy X date and got in after a crash". Good for you, however new coiners can feel defeated by these things and nobody profits from discouraging people away from Crypto. I was fortunate enough to have a small amount on hand, but I didn't after the May crash and that was tough. TL;DR: Not everyone can afford to buy whenever the market dips, don't gloat about it. Be supportive, if not just be nice. [link] [comments] | ||
| Luna didn't care about the crash and is now a top 10 cryptocurrency Posted: 05 Dec 2021 03:39 AM PST Luna is killing it man up 65.71% since last week and breaking ATH after ATH even when the whole market is down, now sitting comfortably in the top 10. This run up seems kinda similar to that of Solana a few months ago, i could see it going up a few other places if all the planets align. If you haven't look into Luna yet i suggest you do, it's a great project with a very solid team, who are always doing their best to improve and usually listen to their community. This is not financial advice, just DYOR and enjoy the ride :) [link] [comments] | ||
| $13 million of stolen ETH is being sold right now after the BitMart hack - watch it live Posted: 04 Dec 2021 05:46 PM PST $13 million of stolen ETH being sold live right now and you can watch the hackers getting rich on the blockchain: https://etherscan.io/address/0x4bb7d80282f5e0616705d7f832acfc59f89f7091 As confirmed elsewhere tonight (eg https://np.reddit.com/r/CryptoCurrency/comments/r92ztx/it_appears_bitmart_has_been_hacked_and_several/), BitMart was hacked and a huge number of tokens and coins were stolen. The official list is available here: https://twitter.com/peckshield/status/1467302620000043013 As well as a range of shitcoins, CRO, FTM, GALA, SAND, MATIC and MANA were also looted. But there is one upside: the ETH gas fees : ) So far the hackers have sold off more than $130 million of stolen coins .... and they're still selling as I type this. [link] [comments] | ||
| Seatgeek CEO Jack Groetzinger: nearly 100% of all tickets will be NFTs in the next 5-10 years Posted: 05 Dec 2021 09:12 AM PST
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| No, Tether did NOT just mint 1.5B "Out of thin air" - Audit linked Posted: 05 Dec 2021 08:58 AM PST Latest audit by a third party firm: https://tether.to/wp-content/uploads/2021/12/tether-assurance-sept-30-2021.pdf You can dislike them using low risk investments to make money off the cash they are holding to back their assets, but saying they are pumping BTC to print more to buy more BTC is just patently false. What they are doing is generating value for their share holders through low risk investments, and generating funds they need to pay for operations, holding cash won't do that. The commercial paper is generally the sticking point for a lot of people, and that's fair (see: https://www.investopedia.com/terms/c/commercialpaper.asp) as it is an unsecured loan, if those companies go belly up they will need to fight in court as a creditor to recover funds. The FUD that most of that was to Evergrande was just made up, they have confirmed they had no dealings with them (https://www.reuters.com/business/finance/stablecoin-tether-says-holds-no-evergrande-commercial-paper-2021-09-16/). You can argue they are just lying, as they have before. Sure, they could be, but Evergrande is too big to fail in China anyway, they will continue to be bailed out. If you want to honestly discuss the risk of Tether, fine, but don't make up bullshit that can be disproven with a google search. [link] [comments] | ||
| Posted: 05 Dec 2021 04:09 AM PST
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| I made a crypto trading bot that takes advantage of Kucoin listing announcements Posted: 05 Dec 2021 05:52 AM PST
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| Posted: 05 Dec 2021 01:44 PM PST Andrew Bailey, governor of the bank of England was "concerned" about Bitcoin being used as legal tender in El Salvador.
Thankfully Nayib Bukele is a chad and he responded by tweeting
This man also bought the dip yesteday with 150 Bitcoin and and tweeted
TLDR: Nayib Bukele is a chad and knows how to put greedy bankers back in their own place. [link] [comments] | ||
| NFT bear market will obliterate the NFT holders Posted: 05 Dec 2021 12:02 PM PST The time is approaching when there would be no liquidity, no volume, no self-proclaimed art geniuses willing to buy anything anymore. It requires almost zero efforts to actually create an NFT and sell it to the general public. Worst yet, you can google a image and make it your own NFT. A colleague of mine has sold a pirated copy of a comic on wax.io. Even this could've been fine had these NFTs sold for a few dollars, but the bigger NFT projects with 1000's of the similar art designs are selling individual NFTs for as much as 3/4 SOL. $600 for a picture of a turtle and -to hit the final nail in the coffin- you're not the only one with such a photo, there are 9999 more such photos who've paid the same price for it. Imagine what would happen when all of these folks will try to sell their 'unique' pieces to the public at once. Most of these NFT projects don't even have a working game where these NFTs could be used. It literally serves no purpose at all. They've just sold a dream in the manner of a roadmap. Yet they are selling like hot cakes. This is worst than margin trading, atleast there you are trading with something which ideally should've some real value. Here you are just playing with fire. [link] [comments] | ||
| Posted: 05 Dec 2021 01:22 AM PST First of all, what exactly is market manipulation you might ask: "Market manipulation is an attempt to artificially influence an asset's price or the market's behavior. This typically involves a single individual or group looking to create an illusion in the market, so they can profit from the aftermath. For example, a pump and dump may involve a person pumping a penny stock's price with fake news and then profiting at the peak. You may recognize that example from Wolf of Wall Street, the true story of notorious stock-market manipulator Jordan Belfort. Four Common Market Manipulation Strategies 1. Pump and Dump The crypto market's most prevalent offender is the pump and dump, which involves a group of people working together to artificially inflate a coin's value. Pump and dumps usually target low-market cap coins that are available on limited exchanges. The group's insiders will buy a coin early and dump it once there is enough attention from traders and investors buying in. In recent years, pump and dumps have become more accessible via social media communities like Reddit, Telegram and Discord. You may have recognized them from names like Crypto Pumps. In these situations, the leaders typically profit while most of the participants end up taking a loss 2. Whale Wall Spoofing Spoofing was a common tactic used during Bitcoin's early days and still happens on less-regulated exchanges. This strategy involves a whale placing large orders to create fake buy or sell walls in the order books, hence the name spoofing. For example, if they wanted to create a bearish sentiment and drive a coin's price down, a whale will set large sell orders to trick investors into panic selling. Once the selloff occurs, the whale removes their sell orders and proceeds to buy more at a discounted price. 3. Wash Trading Wash trading is similar to whale wall spoofing because they both feed misleading information to the market. This strategy involves a person or group rapidly buying and selling the same cryptocurrency to inflate the volume artificially. The asset's increased activity gains attention from traders and investors, which distorts the price even more. Smaller, unregulated exchanges will typically perform wash trades to inflate trading volume, generate more commission and entice more users. 4. Stop Hunting Stop hunting involves whales driving a cryptocurrency's price to a level where market participants have set stop-loss orders. Most people set their stop orders around the same key technical levels. The whale executes multiple sell orders to drive the price down and trigger the stops, which causes high volatility and an opportunity to rebuy the asset at a lower price." Source: What is Market Manipulation in Cryptocurrency? So what can you do against Market Manipulation: "How do I Deal With Market Manipulation Tracking market manipulation is a tricky game of hide and seek. Remember always to do your research and due diligence before investing money in any asset. We've listed four basic strategies you can use to protect your crypto holdings from market manipulation. 1. Double-check with different sources Don't rely on a single source of information, like the order book, to verify an asset's movement. Compare your asset's data across different sources like Coingecko and Coinmarketcap. 2. Focus on historical price trends Whales will sometimes inflate volume by performing wash trades on multiple exchanges. For example, posting a large trade on a popular exchange while doing the opposite on a smaller one. Traders can avoid this whale tactic by basing their decisions on historical price trends instead of recent movements. 3. Longer-term contracts vs. perpetual futures Whales will sometimes drive prices to liquidate their shorts and benefit from a long position of equal size. For an unbiased method, always compare the premium on longer-term contracts to perpetual futures. 4. Dollar-cost average (DCA) with recurring buy If you're more of a HODLer than a trader, you can use Binance's recurring buy feature to dollar-cost average (DCA). This strategy will not only lower your exposure to potential market manipulation price swings but also strengthen your crypto holdings. Remember, market manipulation causes more harm to short-term traders since the effects happen quickly before the market corrects itself. If you're interested in learning more, you can read our recurring buy FAQ guide. 5. Diversify your portfolio Your crypto portfolio should include a healthy mix of different assets according to your risk appetite. In other words, don't put all your eggs in one basket—don't all in. If your portfolio is properly diversified, market manipulation can only affect a small percentage of your assets." Source: What is Market Manipulation in Cryptocurrency? I don't think any of us trained Hodler's were part of this crash this saturday. If anything this sub does, it teaches you basic crypto knowledge in the form of ever repeating mantras: It indoctrinates you with the 10 commandments of this sub (DCA; DYOR; HODL; etc.) and melds it into our brains so we don't forget the next time a minor correction happens. I am thankful to all of you indoctrinators out there, keep up the community spirit. [link] [comments] | ||
| Algorand rally in the recent dip Posted: 05 Dec 2021 03:04 PM PST It would seem Algorand is currently bucking the trend and seeing some green in an otherwise red few days. With that, it also jumped up to number 18 having held the number 21 spot a week ago. Today alone its overtaken Uniswap and Litecoin. It seems to be performing well during this latest crash/dip/correction or whatever you want to call it. It's left me feeling even more bullish on this project and got me thinking those that hold it are keeping a level head, where other investors seem to be losing theirs. I've never understood the need or desire to sell when there's a dip, but looks like the Algonaughts are all on the same page. Happy hunting, hope you've been enjoying these pre Christmas sales. Interested to know what you've been buying these past few days? [link] [comments] | ||
| How much further down the crypto rabbit hole can one go? Posted: 05 Dec 2021 02:38 PM PST When I got into the space early this year it opened my eyes to a world of macroeconomic thinking, I deep dived. HARD. I started by watching all the MIT Gary Gensler lectures, all of the videos where Micheal Saylor proved he was a maximalist. I read books trying to understand the gold standard, the bitcoin standard, where Peter Schift is coming from. I reading the white paper again and again, understanding byzantine, and then others. In the past year I've learned
I get it. I think most of us here do. Where does it stop? I feel like I've gotten the equivalent of a bachelors degree in DeFi market finance having been hyper obsessed the past many months. What's next? Do I learn how to build my own cryptos? Learn Haskell? Do I start trading evolving NFTs 'for the tech'? Set up nodes just for principles sake? I've become desensitized to the volatility and have just decided not to sell until 2033. What do I do till then? [link] [comments] | ||
| There's some mad lad out there with tons of money that created the 69,000$ ATH and 42000 dip. Posted: 05 Dec 2021 01:44 AM PST On 10-11-2021, BTC hit a new ATH of 69,000, in the following month of December 4, BTC hit 42,000. This doesn't happen on its own, someone out there took the time and effort to create a bunch of major sell orders at 69K building or what we traders call "invisible wall" and buying orders at 42000. It could be a single whale or whales. Is it immature? yes. Is it hilarious? yes. Is the whale(s) a mega chad? yes. I can't wait for news articles to quote this and go "look how immature the market is", good luck doing this with your stocks folks. [link] [comments] | ||
| Posted: 05 Dec 2021 02:44 PM PST I'd like to give my moons to charity or to a genuine user who can do that for me. I'm deleting my account as I regularly do and I don't want the moons. I'll still be invested in crypto for the long run, but this sub isn't what it once was and also I just don't want another avenue of crypto filling up my life. Whilst this sub can be good for certain things I just find it boring and tiresome to even try and read through now and I'd much rather spend my time that I would here on something else. So, hopefully someone can help me and a charity out with these moons. (Edit - will donate when I work it out in the morning. Sleep time). And remember: Kadena stays Babena. [link] [comments] | ||
| Posted: 05 Dec 2021 02:02 AM PST BitBoy crypto, DIY investing, Crypto Homie, MMCrypto and many others didn't get rich because of their superior technical analysis or knowledge of the universe and beyond. Names of the channels kinda give it out but they aren't who you should be listening to. They got here to make profits off your losses and to get funded by sponsors of their videos/posts/analysis etc. A LOT if not most of high profile crypto youtubers are simply covert pump and dump schemes. Remember the Phantasma video that BitBoy did? Yea, something like that. Buy cheap, sell while your followers bought a significant amount and then dump it for profit and never mention it again in your videos. Kardashian shilling shitcoin Ethereum MAX? No-one was held responsible for the money that people lost in that. And how much did Kardashian got paid by the devs of Eth MAX? A shitton. Then you have semi-influencers like Willy Woo who is still predicting 1 million BTC by the end of year. I did my share of shitty decisions and actually bought a small amount of Aldrin finance that was shilled beyond anything that was ever shilled by CryptoBanter Ran. It went from about 8$ to 2$. Was it ever mentioned again? Nop. Not once. And don't think that those several hundred or thousand dollar giveaways are real. Most if not all are fake. Don't trust those who say that "its the last chance to get rich" or "this will go parabolic". Its a façade for their own interests. And they have one interest. To get truly, nasty rich despite how many bodies they leave behind their destructive wake. [link] [comments] | ||
| There’s a reason people say “Don’t invest more than you can afford to lose” Posted: 05 Dec 2021 03:17 PM PST From someone who had a tough rough in with a gambling addiction in my past, it genuinely scares me when I see people throwing everything they own and the kitchen sink into crypto. Not investing more than you can afford to lose, allows you to remove any emotional attachment you have with crypto. You should realistically be able to look at your entire portfolio, and say that if it went all went tits up and dropped 99% overnight, you'd still be fine in the morning. If you can come into this highly volatile market with an actual plan/strategy, you will be much better off 5-10 years down the line. There are many safe investment strategies, with DCA being the most popular amongst them. If you're not afraid of losing your crypto, you won't be afraid of HODLing it. You won't panic sell at a loss, you won't convert to coins that are currently pumping. All in all, you'll be in a better place if you're not over-exposed. Trust me, once you go balls deep into the rabbit hole, you'll find yourself trying to catch the next Doge, the next SHIB, etc. & trust me, you won't. [link] [comments] | ||
| After losing $8,000 in an altcoin scam, one man started a group that hunts down crypto frauds Posted: 05 Dec 2021 12:53 AM PST
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| Cardano Is Set for Long-Term Gains Based on Its Development Roadmap Posted: 05 Dec 2021 02:14 PM PST
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| Ethereum balance on exchanges reaches 3 year low!! Bullish AF Posted: 05 Dec 2021 10:25 AM PST Here is the Tweet. If that doesn't make you bullish, I don't know what will. People keep taking Ethereum of exchanges, even tho we're close to the all time high. The bull market is not over yet, we're just getting started. Like, why would people put Ethereum in their wallets if this would be the beginning of a bear market? I was looking through these on-chain analysis tweets, as they tell a lot more than looking at the price. And for a moment I got scared, because I saw how much exchange inflow there was. Then I saw that there was much, much more exchange outflow. My thesis is that whales are sending their coins to an exchange, to scare people out and then the price flies again. I am not sure if this theory is correct, but what I am sure about is that people taking their Ethereum off exchanges is as bullish as it gets. I think you're still not bullish enough, be more bullish my friend. [link] [comments] | ||
| Posted: 05 Dec 2021 07:07 AM PST Alot of post seem to be talking about how the dip is over and starting to recover but for me it feels like it's gonna have another dip or 2, I can't tell I feel this is because i have buy order sat that I want to trigger so keep telling myself another drip is coming or I legit feel this is true, just wondering on others feel. From the last times btc has dipped like this it gets a small bounce as people buy the drip until them same people sell their profits triggers another slaughter of the overleaved traders who got cocky after seeing a green candle following a huge red one [link] [comments] | ||
| Posted: 05 Dec 2021 12:07 AM PST
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| CRO is in fact a lot more interesting than BNB. Posted: 05 Dec 2021 04:38 AM PST Binance is absolutely lacking right now. The app sucks. Withdraws for cash are an absolute nightmare. There's no plus in utilizing their system and security wise nothing pops out. I won't even go about Coinbase lmao. Meanwhile Crypto.com is becoming more mainstream, their investment in Marketing is insane, CRO is gaining value and the staking for the Visa cards is a master plan to get people to hodl as much CRO as possible for as long as possible. Cashback is nice, supercharger for staking without a specific time constraint. Of course the app needs to get better, but looking at Binance I already feel like they are miles ahead. I can honestly see CRO mooing pretty hard in 2022, at least 5$ is my price prediction. [link] [comments] | ||
| What advice would you give to a new-comer looking to participate in the crypto ecosystem? Posted: 05 Dec 2021 08:17 AM PST As with many bull runs in the past, there are numerous new-comers who spend significant amounts of their cash and buy near All-Time-Highs. If their purchases worked out for them, that's great. However, most of the time new-comers are more prone to panic during large percentage drops & sell their holdings at huge losses. We always hear advice to buy during dips. This strategy might or might not work depending on how the markets are going & other real world factors. What advice would you give to a new-comer looking to participate in the crypto ecosystem? [link] [comments] |
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