Cryptocurrency Daily Discussion - January 23, 2022 (GMT+0) |
- Daily Discussion - January 23, 2022 (GMT+0)
- President of El Salvador Nayib Bukeke updates profile picture to McDonalds. No matter what happens to the price, don't lose your sense of humor
- My government announced 1 year jail time for using crypto and 3 years jail time for using a vpn.Should I be worried?
- El Salvador irresponsible for buying Bitcoin dips. Meanwhile US government sitting on $30 trillion debt that will never be paid back.
- Proof-of-stake has a problem
- Crypto needs to introspect. The entire space has been usurped by greed, ponzi farms, gamblers, NFT grifters, scammers.. In the eye of a normal person, all of these bring zero legitimacy to the space. A long bear market is good for weeding out all this nonsense
- Anyone else not worried because you have a long term mindset?
- Many people have forgotten the price levels after at the May 2021 crash
- Sick to see Bukele fan in here.
- Let's not become WSB, for the love of god.
- "Buy the dip" guys are real quiet
- Words of wisdom from a 2015 crypto veteran
- Cardano Bridging to Polygon
- Ethereum Foundation Cashed Out A Large Sum Of ETH At The Peak Yet Again
- Bitcoin Halving: An Analysis
- Remember, you can't spell cryptocurrency without "cry"
- Crypto Markets Rebound $130B: Bitcoin Recovers 5% Since Yesterday's Low
- Russia May Allow Crypto Mining and Gold-Backed Stablecoins, Lawmaker Says
- El Salvador takes the advice of the r/Cc sub and buys its cheapest 410 Bitcoin as prices reach $36K
- El Salvador President Nayib Bukele Confirms the Purchase of 410 More BTC
- Adoption: NFL offers NFT collectible to ticketholders of the superbowl
| Daily Discussion - January 23, 2022 (GMT+0) Posted: 22 Jan 2022 04:00 PM PST Welcome to the Daily Discussion. Please read the disclaimer 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.
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| Posted: 22 Jan 2022 09:00 PM PST
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| Posted: 22 Jan 2022 10:41 PM PST I live in Myanmar(Burma).So,cryptocurrency and most social media have been banned in my country for a long time including Reddit.I'm currently using a vpn.I don't trust the government one bit,so,I decided to put my money into crypto most of it in CEXs on my mobile because I can't afford the gas fees to transfer and to buy hardware wallets at the moment as I'm saving money to flee the country. This morning,the government in my country announced a new fucking cyber law that we will be jailed 3 years for using a vpn and 1 year for using crypto.Should I be worried and take my money out of CEXs?If I keep using CEXs like Binance and Crypto.com with a vpn,can the CEXs ban me or freeze my account ? Sorry if there were any mistakes as English is my second language. Edit:most people asking for my wallet address so here it is https://np.reddit.com/r/CryptoCurrency/comments/sanct2/my_government_announced_1_year_jail_time_for/htuz3dd/?context=3 Edit 2:I've deleted the address [link] [comments] | ||
| Posted: 22 Jan 2022 12:27 PM PST First let's get something right. El Salvador is not down 15 million on Bitcoin investment. That's fake news. El Salvador will more than make up for it from mining. El Salvador is also not "investing" in Bitcoin. El Salvador is looking to leverage it's rich natural geothermal energy resources to transition to a Bitcoin economy. Bitcoin city will be a circular economy where locally everything will be priced in sats. So you can shove your US dollars. The only people who care about dollar price going up and down are people still treating Bitcoin as an investment. You're buying with the intention of selling at a higher price. Some of us have no plan to ever sell bitcoin. We have already moved on to a superior monetary system where no central authority can print money for free out of thin air which other people are forced to work for and pay taxes. Everybody must prove they worked for money. [link] [comments] | ||
| Posted: 22 Jan 2022 09:53 PM PST
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| Posted: 23 Jan 2022 02:21 AM PST We just saw a cycle where useless dog coins ran up to 50 BN market cap and more. People were selling millions of dollar worth "profile pictures". Scams and hacks were a daily occurrence. The NFT space was and continues to be a perpetual clown show, lions, penguins, dogs, punk jpegs being sold for thousands of dollars. What even is this market. It puts every other bubble in history of mankind to shame. If you wonder why the non-crypto crowd hates crypto and NFT viciously, it's not an isolated incident or two, but a culmination of multiple events that are textbook examples of the worst capitalism has to offer. Earlier in 2021, when I saw hit pieces against crypto, I thought they were quite wrong and were attacking crypto as they missed out on the gains. But over time it's very clear that there is a lot of merit to the attacks on crypto. The entire space has become a circus of greed, scams, zero sum offerings where one is looking to profit from another. If you go to other reddit subs like r/technology, they are all spot on about crypto, the whole space is one big clown world detached from fundamentals. You dont even need to bring in energy consumption into this, even without it crypto is a market aggregating the worsts of the worst. Even now, there is little to no real world adoption of crypto, and instead you have a perpetual grifting scheme where people rush into new launches just to dump them at a higher value and profit off late entrants. Think 2017 cycle but on steroids with thousands of new coins. You have exchanges and other large players legitimising ponzi schemes by giving them attention and even running dog money competitions. You had large defi protocols add ponzi tokens as collateral. Guess what happens to that $100k loan that was taken out using OHM as collateral, when OHM itself crashes 80% in a matter of weeks. A culmination of all of these is cascading liquidations and steep corrections. You have coins with 50 BN FDV, where insiders hold 90% of the supply and retail buys these coins at the very top because they told to FOMOing into every coin that an exchange adds. In particular, what FTX and the whole scam Sam ecosystem they have encouraged is disgusting, if not downright criminal. Institutions and VCs got into these coins at cents to the dollar valuation, and exchanges added them at exorbitant valuations allowing the insiders to cash out handsomely within just weeks. Influencers and ponzi pumpers ran with "FDV is a meme" narrative so that they can encourage retail to pile into these scams. If you were even a small sized fund in this space, your limited partners were all chasing for maximal returns and exchanges facilitated all of this greed, all of them except retail knew that the loose monetary policy wasn't going to last, and it was time to make the most out of it. Ultimately it's the retail user and the crypto as a whole itself that suffers. For a regular user of r/technology, he probably woudn't care that its Alameda Research or A16Z thats behind a lot of these worthless hype tokens, but his indictment would fall on crypto as a whole. The partner of a crypto VC fund gives zero fucks if crypto's reputation goes down the drain, he has made his millions and is happy collecting his share of profits. If you really believe in the tech and vision of crypto, you have every reason to be angry about what the space has turned into since the pandemic crash. It has been one relentless machine churning out scam after scam. A bear market offers actual builders to work in peace building good products that the users needs, while removing all the baggage that comes with increasing prices and the vicious cycle of people looking to profit from one another, and heightened regulatory attention that grifters and scams bring to crypto as a whole. Crypto has a lot to offer the world, but only if the right products are built offering value to users. A ponzi farm and fork of a liquidity mining pool aint it, champ. [link] [comments] | ||
| Anyone else not worried because you have a long term mindset? Posted: 22 Jan 2022 03:48 PM PST I've been in this since May and basically got in right after the last large dip, so I've expected this ever so often… it comes with the territory. I've followed the advice of many on here not to invest money I couldn't afford to lose and to stick to the blue chips (BTC/ETH).. I definitely have some alts but everything I've invested in I believe will survive crypto winter. So if crypto winter comes, I'll DCA in and look to the next bull market. I'm not going to sell on the way down and try to time the market I'm just going to HODL and let the market run it's course. Anyone with me on this? [link] [comments] | ||
| Many people have forgotten the price levels after at the May 2021 crash Posted: 23 Jan 2022 01:59 AM PST About half a year ago in May 2021 there was a crash. Price levels were at $29k, other coins suffered even more losses. The crash now in January 2022 was nothing compared to May 2021. We're still comfortably sitting on a $35k, $34k were touched for few hours. Crypto can either keep dropping around that May 2021 price levels or more or can recover even stronger; nobody can really say. How many people wished to buy the coin at $35k when it was lik $60k? Like everyone was telling that they wished they had bought more. Now everyone is afraid to do so. People predict another crash in March 2022 because of the increasing interest rates. Let's see how it works out, usually the opposite happens what this sub thinks. Just my 2 cents. [link] [comments] | ||
| Sick to see Bukele fan in here. Posted: 23 Jan 2022 02:51 AM PST It's been some days i read circle post praising the decision of the president Bukele to buy Bitcoin, and i am sick of it. First of all, Bukele is a dictator who has been using institution to concentrate all power in his own hand : https://www.economist.com/the-americas/2020/05/07/nayib-bukeles-power-grab-in-el-salvador He uses the powers he has concentrated to enrich himself on the backs of Salvadorans. The economic policy that he leads in his country is disconnected from reality and is certainly a vast scam for his own enrichment. Then, 41.6% of the population lives below the poverty line, the country has a Gini coefficient of 0.47. His repeated purchases of bitcoin in a country with limited resources risks plunging the economy into an even worse state than it already is. Finally, we are not talking about an individual investing his money in a risky way, we are talking about a leader betting his country's economy (in short the wealth of his population) in something risky and very volatile. He is most certainly plunging his country into an unprecedented economic crisis: https://fortune.com/2022/01/19/el-salvador-bitcoin-economy-distressed-debt/ His actions will have real consequences if the country goes into an economic crisis. Unemployment, suicide, poverty and its consequences. So please stop throwing flowers at this guy. Bitcoin was created by crytpo-anarchists who abhor this kind of person. Let's not forget that and let's not glorify dictators who want to use Bitcoin to get rich on the backs of their people. [link] [comments] | ||
| Let's not become WSB, for the love of god. Posted: 22 Jan 2022 07:20 PM PST Recently, there has been an absurd number of sarcastic, *I hope*, posts saying things like: "Crypto will go to 5 trillion." "I am so bullish I am getting a fricken pickle or a hard on..." "I will never trust any of you cowards ever again!" "We were brothers and sisters in arms. A valiant group of individuals hellbent on changing the world." "We will become stronger than ever if only you have the courage." And, yeah, I get we should be lighthearted during this substantial crash, but let's also not solely turn into brainless idiots like the fools over on WSB fighting for GME. Phrases like "we don't know shit about fuck" and all the "my wife..." comments are cringe. "I reached wife-changing money." All the posts and comments about lambos are crazy and, believe it or not, very unfunny. If you can afford to HODL, then HODL. If you cannot stomach it, then DCA out or lower your investments. Your fear is valid no matter how much you invested. No one likes to lose money. It's a crazy time in crypto. Non-crypto investors will definitely not believe in crypto and think we are a joke if they ever visit this sub. Thanks for coming to my TED talk. p.s. please stop saying "we don't know sh+t about f+ck." it's cringy as hell. [link] [comments] | ||
| "Buy the dip" guys are real quiet Posted: 22 Jan 2022 03:26 PM PST Remember when everything dipped 10% and this whole sub was full of posts about how this is an enormous buying opportunity? "What coins are you guys buying this dip?" "Oh man, I wish it would dip even further so I could stack some more." "Don't forget to buy the dip hahaha" Well, those guys are nowhere to be seen and if you listened to them and FOMOed you are down a lot since then. Another reminder that the sub is mostly full of shit and you should take every bit of advice from here with a grain of salt. From my experience of a bit more than 1 year here, if something is echoed by the majority of this sub that opinion is almost always wrong. [link] [comments] | ||
| Words of wisdom from a 2015 crypto veteran Posted: 22 Jan 2022 07:08 PM PST Chill the fuck out. Stop looking at your profiles. Stop caring. Go rub one off, drink a beer, and ignore the news, the tech has not changed at all in the last few days. Adoption is quite literally global... In fact we literally have entire countries using it as their currency.. that's incredible! This has happened time and time again...buy what you could afford to lose, because I promise 4 years from now your biggest regret will be that you didn't buy more... If your leveraged... Then continue to freak out... We have another halfening in 2 years.. shits inevitably going to moon to new all time highs and those with patience will prevail.... Enjoy your weekend. [link] [comments] | ||
| Posted: 23 Jan 2022 02:47 AM PST
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| Ethereum Foundation Cashed Out A Large Sum Of ETH At The Peak Yet Again Posted: 23 Jan 2022 01:58 AM PST
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| Posted: 22 Jan 2022 11:00 PM PST
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| Remember, you can't spell cryptocurrency without "cry" Posted: 23 Jan 2022 04:46 AM PST Everyone is waiting for the trend reversal, for the crypto bull run, but don't get impatient, we have been through this type of scare so many times, that I don't even pay attention any more. The directive remains though. Just do not invest more than you afford to lose. Investing based on emotiin (greed or fear) is the main reason why so many people are buying at market tops and selling at market bottoms. Currently everybody seems to rush for the exits, but there' s only one door. Stay safe, stay strong and remember you can't spell cryptocurrency without "cry". [link] [comments] | ||
| Crypto Markets Rebound $130B: Bitcoin Recovers 5% Since Yesterday's Low Posted: 23 Jan 2022 02:01 AM PST
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| Russia May Allow Crypto Mining and Gold-Backed Stablecoins, Lawmaker Says Posted: 23 Jan 2022 12:53 AM PST
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| El Salvador takes the advice of the r/Cc sub and buys its cheapest 410 Bitcoin as prices reach $36K Posted: 23 Jan 2022 02:13 AM PST
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| El Salvador President Nayib Bukele Confirms the Purchase of 410 More BTC Posted: 23 Jan 2022 03:32 AM PST
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| Adoption: NFL offers NFT collectible to ticketholders of the superbowl Posted: 23 Jan 2022 04:18 AM PST |
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