Cryptocurrency Daily Discussion - January 3, 2022 (GMT+0) |
- Daily Discussion - January 3, 2022 (GMT+0)
- Algo is garbage (I'm explaining why)
- 8 and a half years ago a YouTuber by the name of 'Davincij15' uploaded a video basically pleading to buy just $1 of Bitcoin
- Coinbase has added "Elon Sperm" to their price ticker. According to them, 1 Elon Sperm is 0,000185 USD.. Is there a reason they are legitimising utter shitcoins?
- What is one coin you'll never turn your back on despite the hate?
- A plan for a $3 billion casino in New York's Manhattan includes a massive crypto-trading floor
- Bitcoin launched exactly 13 years ago to date, on Jan 3rd 2009.
- This is what the top 10 looked like in January 2020, 2021 and now
- South Korea’s Top Presidential Candidate Will Accept BTC and ETH as Campaign Contributions.
- Today, 13 years ago, the first Bitcoin block was mined
- It warms my heart to see people's lives changing thanks to crypto
- I've read and abstracted Algorand White Paper, so you don't have to
- Good news! The market dominance of Tether is in free-fall.
- Nearly $34 Billion Worth of ETH Locked in the Ethereum 2.0 Deposit Contract
- Happy 13th birthday BITCOIN!
- The more research I do the more it seems like peoples analysis’s are just confirmation bias.
- Billionaires Are Embracing Crypto in Case Money ‘Goes to Hell’
- Which was your 2022's first crypto purchase?
- Which Alt coin will shoot up the most during the next bullrun?
- Which coins have the most potential to grow a lot this year?
- I can't stress this enough, write down your passwords, twice, thrice, and even more.
- Chart analysis and predictions are bullshit astrology and the only thing they do is make people click articles that provide them with hopium
- What is your crypto new year's resolution? Here's mine: stop catching falling knives!
| Daily Discussion - January 3, 2022 (GMT+0) Posted: 02 Jan 2022 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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| Algo is garbage (I'm explaining why) Posted: 03 Jan 2022 04:39 AM PST I'm totally aware that this will be probably the most downvoted post in the history of this sub. But I don't care. Algo is the most shilled coin on reddit. I am the unlucky one and took the bait and bought Algo because of the shill. I did the research and on paper everything looked great. Fast, secure, reliable. I have read a lot of articles, read whitepaper and bought Algo. But now after half a year of holding I have to say that it's really bad. And I'll tell you why. Keep in mind that I'm talking about the WHOLE ALGO ECOSYSTEM and not blockchain itself.
Ok some of you may disagree with some points but most of them are straigth facts. Please research about the recent Hack and algoexplorer problems. Edit: Thanks for all rewards! [link] [comments] | ||||||||||||||||||
| Posted: 02 Jan 2022 08:01 PM PST On May 9th, 2013 youtuber Davincij15 made a 6 minute video going over what Bitcoin is, and it's potential, in his opinion at the time and pleaded with his audience to just buy $1 worth and leave it in a wallet.
Now, out of curiosity I can't help but wonder the obvious question of what would have happened had I put just $1 into Bitcoin or 5 or 20 etc. (I could not find the exact price of Bitcoin for May 9th 2013 when he uploaded the video. CoinMarketcap showed me May 5th and 12th and Coingecko showed me May 6th. The price was fluctuating between 110-115. I met in the middle with 113.)
I included $170 because May 9th 2013 was a day after my birthday. I had just turned 18 and gotten my first tattoo for about that price. I did not know anything about Bitcoin but If I could time travel I'd tell my past self "fuck the tattoo, get this magic internet money!" Do any of you remember his video when it came out? If so, did you buy? [link] [comments] | ||||||||||||||||||
| Posted: 03 Jan 2022 03:42 AM PST
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| What is one coin you'll never turn your back on despite the hate? Posted: 03 Jan 2022 02:14 AM PST What's a coin or token that bears a rather negative connotation in the crypto space, but you believe in its future despite the controversy surrounding it? Mine wouldn't exactly be a specific crypto but more of a category - memecoins. Everyone always hates on memecoins because of how "disgraceful" they are to the crypto game. "Its not a serious project, it doesn't have a future it'l die out in a couple months..." yeah, I get and partially agree with that, but why does it have to? As long as it's not a scam/rugpull, I don't see why a couple thousand people can't come together and form a small community out of a token, develop games for it, mint a couple NFT's, etc... It's not really hirting anybody so I don't see the problem. Now on the other hand, people that keep pressuring others to FOMO into a cryptocurrency that clearly doesnt have the capacities to become big, but they pretend it does, that is a problem. [link] [comments] | ||||||||||||||||||
| A plan for a $3 billion casino in New York's Manhattan includes a massive crypto-trading floor Posted: 02 Jan 2022 06:24 PM PST
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| Bitcoin launched exactly 13 years ago to date, on Jan 3rd 2009. Posted: 02 Jan 2022 11:18 PM PST
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| This is what the top 10 looked like in January 2020, 2021 and now Posted: 02 Jan 2022 05:17 PM PST In 1st January 2020, the top 10 looked like this:
This is what the top 10 looked like on January 1st, 2021:
And this what the top 10 looks like today:
Name 1 coin that's currently in the top 10, but won't be there next year. [link] [comments] | ||||||||||||||||||
| South Korea’s Top Presidential Candidate Will Accept BTC and ETH as Campaign Contributions. Posted: 03 Jan 2022 12:30 AM PST
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| Today, 13 years ago, the first Bitcoin block was mined Posted: 03 Jan 2022 05:13 AM PST It is the Genesis block and it is at that moment exactly when the Bitcoin network begins to work. Today, January 3, 2022, it is exactly thirteen years from that moment and, although this fact still goes unnoticed by many, a greater number of people around the planet are more aware of this anniversary. The first block had a reward of 50 bitcoins, which, as a curiosity, cannot be moved and will never be moved. Six days after, Satoshi sent an email "announcing the first version of Bitcoin, a new electronic money system that uses a peer-to-peer network in which double-spending a digital asset was not possible. It is completely decentralized and without any server or central authority" and in which he explained how to download the software from Bitcoin.org, a domain that had been purchased on August 18, 2008. This event was the Big Bang of cryptocurrencies and as you know, the rest is history [link] [comments] | ||||||||||||||||||
| It warms my heart to see people's lives changing thanks to crypto Posted: 03 Jan 2022 06:23 AM PST Hi everyone, just dropping in to say how happy it makes me to see you all here, changing your lives with crypto. I see countless stories everyday, some of us have debts to pay off, some of us want to buy a house, some wanna buy a car, some wanna build a better life for your loved ones. Whatever the reason, I'm so proud of you for taking that first step. I was shocked to see comments by people from third world countries saying how they earn more in moons than they do in their actual jobs. It fills me with joy that crypto is changing lives for the better, and I'm glad you're here, taking that risk and changing your lives. "Investment" used to be a big-boy word, and I truly used to think that only the rich invest. I used to live paycheck to paycheck and never thought about making my money grow while I slept. But now, with crypto, the bar for investing has dropped quite low, and it's so easy for just about anyone to buy in. It especially makes me happy to see so many of you getting involved in the sub, actively participating in the discussions, shilling your bags :p. Of course there's the added incentive of earning moons, but I'm glad it's getting people talking about crypto. Let's keep it going! Hope this year will be an amazing one for you all. [link] [comments] | ||||||||||||||||||
| I've read and abstracted Algorand White Paper, so you don't have to Posted: 02 Jan 2022 10:05 PM PST First of all it's really boring. Actually ALGO has like 5 very lengthy white papers. I have read and abstracted their original white paper which was 75 pages, front and back! 1 IntroductionAlgorand is a truly democratic and efficient way to implement a public ledger. Unlike prior implementations based on proof of work, it requires a negligible amount of computation, and generates a transaction history that will not "fork" with overwhelmingly high probability. Algorand is based on (a novel and super-fast) message-passing Byzantine agreement. Currently, ledgers can be inefficient to manage. For example, Bitcoin's proof-of-work approach requires a vast amount of computation, is wasteful and scales poorly. In addition, it concentrates power in very few hands. We call our approach Algorand, because we use algorithmic randomness to select, based on the ledger constructed so far, a set of verifiers who are in charge of constructing the next block of valid transactions. Algorand's approach is quite democratic, in the sense that it does not create different classes of users (as "miners" and "ordinary users" in Bitcoin). In Algorand "all power resides with the set of all users". One notable property of Algorand is that its transaction history may fork only with very small probability (e.g., one in a trillion). Algorand can also address some legal and political concerns. 2 Bitcoin's Assumption and Technical ProblemsBitcoin assumes that no malicious entity (nor a coalition of coordinated malicious entities) controls the majority of the computational power devoted to block generation. Such an entity, in fact, would be able to modify the blockchain, and thus re-write the payment history, as it pleases. Computational Waste: Bitcoin's proof-of-work approach to block generation requires an extraordinary amount of computation. Concentration of Power: Only using pools of specially built computers, one might expect to make a profit by generating new blocks. Accordingly, today there are, two disjoint classes of users: ordinary users, who only make payments, and specialized mining pools, that only search for new blocks. Ambiguity: In Bitcoin, the blockchain is not necessarily unique. Indeed, its latest portion often forks. Only after several blocks have been added to the chain, can one be reasonably sure that the first blocks will be the same for all users. Thus, one cannot rely right away on the payments contained in the last block of the chain. 3 Algorand, in a NutshellPermissionless and Permissioned Environments. Algorand works efficiently and securely even in a totally permissionless environment, where arbitrarily many users are allowed to join the system at any time, without any vetting or permission of any kind. Very Adversarial Environments. Algorand withstands a very powerful Adversary, who can: (1) instantaneously corrupt any user he wants, (2) totally control and perfectly coordinate all corrupted users; and (3) schedule the delivery of all messages, provided that each message m sent by an honest user reaches 95% of the honest users within a time λm, which solely depends on the size of m. Main Properties: Despite the presence of our powerful adversary, in Algorand: • The amount of computation required is minimal. Essentially, no matter how many users are present in the system, each of fifteen hundred users must perform at most a few seconds of computation. • A New Block is Generated in less than 10 minutes, and will de facto never leave the blockchain. • All power resides with the users themselves. Algorand is a truy distributed system. In particular, there are no exogenous entities (as the "miners" in Bitcoin), who can control which transactions are recognized. Algorand's Techniques:
4. Secret Crytographic Sortition and Secret Credentials. When a user privately realizes that he is the leader for the next block, first he secretly assembles his own proposed new block, and then disseminates it (so that can be certified) together with his own credential. This way, though the Adversary will immediately realize who the leader of the next block is, and although he can corrupt him right away, it will be too late for the Adversary to influence the choice of a new block. Indeed, he cannot "call back" the leader's message no more than a powerful government can put back into the bottle a message virally spread by WikiLeaks.
An Additional Property/Technique: Lazy Honesty A honest user follows his prescribed instructions, which include being online and run the protocol. Since, Algorand has only modest computation and communication requirement, being online and running the protocol "in the background" is not a major sacrifice. Of course, a few "absences" among honest players, as those due to sudden loss of connectivity or the need of rebooting, are automatically tolerated (because we can always consider such few players to be temporarily malicious). Let us point out, however, that Algorand can be simply adapted so as to work in a new model, in which honest users to be offline most of the time. "Lazy Honesty" Roughly speaking, a user i is lazy-but-honest if (1) he follows all his prescribed instructions, when he is asked to participate to the protocol, and (2) he is asked to participate to the protocol only rarely, and with a suitable advance notice. Our approach could be considered related to proof of stake, in the sense that users' "power" in block building is proportional to the money they own in the system. [link] [comments] | ||||||||||||||||||
| Good news! The market dominance of Tether is in free-fall. Posted: 03 Jan 2022 07:12 AM PST I don't think I need to explain all over again why Tether (USDT) is the shittiest of all stablecoins. It's not backed-up by cash or cash equivalent, it operates as a unregulated money printing machine and the company behind it hasn't even answered to basic questions from the US Congress, which sounds shady as fuck. But here's a good news : Tether dominance in the stablecoins market is free-falling! Exactly a year ago, Tether amounted to about 75% of this market. This ratio has now fallen below 50%, and currently sits around 48.69%. That means that more and more people are using more solid stables, such as USDC, Dai or UST, to buy or sell tokens. Why is this important for the ecosystem? Because if Tether maintains a high dominance and crashes, as it will inevitably do, most trading pairs will become illiquid, and that would create a panic and a "bank run" from investors trying to cash out their USDT. This scenario wouldn't be possible with more solid stables, because they have an actual working mechanism for those who want to redeem their deposits. Let's make 2022 the year we finally leave Tether behind! [link] [comments] | ||||||||||||||||||
| Nearly $34 Billion Worth of ETH Locked in the Ethereum 2.0 Deposit Contract Posted: 03 Jan 2022 03:44 AM PST
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| Posted: 03 Jan 2022 07:22 AM PST Bitcoin (BTC) is celebrating its birthday today. The world's most prominent crypto was launched exactly 13 years ago, on January 3rd, 2009! Lets look at Bitcoin value history (comparison to US$) Jan 2009 – Mar 2010 basically nothing: No exchanges or market, users were mainly cryptography fans who were sending bitcoins for hobby purposes representing low or no value. In March 2010, user "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found. May 2010 less than $0.01 On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida, for 10,000 BTC, an amount that would surpass $600 million if held in April 2021. Feb 2011 – April 2011 $1.00 Bitcoin takes parity with US dollar. Nov 2013 $350–$1,242: Price rose from $150 in October to $200 in November, reaching $1,242 on 29 November 2013. Apr 2014 $340–$530 The lowest price since the 2012–2013 Cypriot financial crisis had been reached at 3:25 AM on 11 April. 2-3 March 2017 $1,290+ Price broke above the November 2013 high of $1,242 and then traded above $1,290. 20 May 2017 $2,000 Price reached a new high, reaching $1,402.03 on 1 May 2017, and over $1,800 on 11 May 2017. On 20 May 2017, the price passed $2,000 for the first time.1 September 2017$5,013.91📷Price broke $5,000 for the first time. 17-20 November 2017 $7,600-8,100 Briefly topped at $8004.59. This surge in bitcoin may be related to the 2017 Zimbabwean coup d'état. On one bitcoin exchange, 1 BTC topped at nearly $13,500, just shy of 2 times the value of the International market. 5 December 2017 $17,900 Price reached $17,900. 7 December 2017 $19,783.06 Price rose 5% in 24 hours, with its value being up 1,824% since 1 January 2017, to reach a new all-time high of $19,783.06. 22 December 2017 $13,800 Price lost one third of its value in 24 hours, dropping below $14,000. 5 February 2018 $6,200 Price dropped by 50% in 16 days, falling below $7,000. 31 October 2018 $6,300 On the 10th anniversary of bitcoin, the price held steady above $6,000 during a period of historically low volatility 7 December 2018 $3,300 Price briefly dipped below $3,300, a 76% drop from the previous year and a 15-month low 16 March 2020 $5,000 Price dropped 50% in early 2020, losing 25% in 24 hours early in the COVID-19 pandemic. 7 July 2020 $10,944 Price recovered value lost in COVID-related crash. 30 November 2020 $19,850.11 Bitcoin price reached new all-time high of $19,850.11. 8 January 2021 $41,973 Bitcoin traded as high as $41,973. 11 January 2021 $33,400 Price briefly fell as much as 26% but pared losses to trade around $33,400. February 2021 $44,200 Bitcoin price surge after Elon Musk and Tesla announcements of investments into Bitcoin, including acceptance of payment. 16 February 2021 $50,000 Bitcoin price reached new all-time high of $50,000. 10 April 2021 $60,000 Bitcoin back above $60,000 as Coinbase gets ready to go public on the stock market. 14 April 2021 $64,800 The all-time high price of $64,800 was reached on April 14, 2021. 19 May 2021 $30,000 Bitcoin price drops to $30,000 at one point following suggestions that Tesla has sold or will sell its Bitcoin holdings and a new set of regulations from the Chinese government to support their cryptocurrency crackdown. 2 September 2021 $50,128 Bitcoin price recovered to $50,000 7 October 2021 $62,600 Bitcoin price returned near to ATH 20 October 2021 $66,974.77 Bitcoin price hits all-time high above $66,000 source: wikipedia [link] [comments] | ||||||||||||||||||
| The more research I do the more it seems like peoples analysis’s are just confirmation bias. Posted: 02 Jan 2022 08:36 PM PST Pretty new to this space but seeing TAs on places like here, YouTube or Tradingview, just makes me think people are analyzing in a way that supports what they want. Youtube seems like the worst as it is just people with ridiculous thumbnails predicting crypto crash or BTC to $1,000,000! Also, on this sub seems like there is a fair amount of shilling that occurs on altcoins. Is there any truth to these analysis's? I feel I should just be investing for the long term and DCA. Let me know if I have the wrong idea about these as i continue to research. [link] [comments] | ||||||||||||||||||
| Billionaires Are Embracing Crypto in Case Money ‘Goes to Hell’ Posted: 03 Jan 2022 06:32 AM PST
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| Which was your 2022's first crypto purchase? Posted: 03 Jan 2022 03:26 AM PST Happy new year everybody!!! been away for a few days but i'm back and Just made my first purchase a few minutes ago, added a little bag of KSM to my portfolio after like three hours of thinking lol, but new year new coins right? Wanted to get some FTM but i feel like it is a little high right now, so gonna give it some time and see how it does, but with my luck it will probably moon hard. What about you guys? which coin was your first purchase? I believe we're still at a good time to load some bags while the market is crabbing and we're getting these juicy dicounts :) [link] [comments] | ||||||||||||||||||
| Which Alt coin will shoot up the most during the next bullrun? Posted: 03 Jan 2022 05:49 AM PST No one can be absolutely sure when the next bullrun is, and I'm far from an expert too but it seems to me that the general sentiment around here is a new bull market coming late Q1 - early Q2. We know that if Bitcoin & Ethereum are soaring, the Alts either are, or soon will be pumping up too. My question has two parts. Which coin will shoot up first, and which will ultimately shoot highest during the next run? My poorly-educated guess is interoperability coins like CKB/DOT will rise fast and, hate it or love it, CRO will probably hit pretty high. [link] [comments] | ||||||||||||||||||
| Which coins have the most potential to grow a lot this year? Posted: 03 Jan 2022 07:51 AM PST First of all, I have not been on reddit recently so I apologise if this question has been asked a lot already. Which coins do you believe in the most in this upcoming year ahead of us? I saw a lot of hype surroinding ADA for example. Will BTC go back to its glory and previous ath? There is obviously going to be a random meme/shit coin which will explode at one point out of nowhere, but I am not asking about those types of coins, but established coins with an actual use. Personally, I have the most faith for ETH and CRO for 2022. I know that is a pretty boring choice for some, but it is in my opinion pretty safe and they both have a big future. ETH might finally reach that big 10k milestone if everything goes to plan and there is no bear market and CRO should imo easily reach 1$, the real challenge would be 2$ lets say. What are your picks for this year and why? [link] [comments] | ||||||||||||||||||
| I can't stress this enough, write down your passwords, twice, thrice, and even more. Posted: 03 Jan 2022 05:33 AM PST No matter how long you are in this space, double and triple-check every address you are about to send your coins at. Write down all your passwords to at least 2 separate places, go to your wallets and recover your seed phrases AND your KEYS. This is your money's safety we are talking about after all. Do take the extra minute to ensure your own safety. I have been here for so long that I ended up not checking the addresses that I am about to send my coins at, ended up sending the coins to a friend of mine. My friend didn't know how to retrieve them as the wallet he was using wasn't supporting them, so I had to import his wallet to another wallet that was supporting them and retrieve my coins from there. But in the process, I had to log out from my own wallet, which I thought was safe since I had written down the recovery phrase. Alas and behold, that particular account needed my recovery Key which I hadn't even written down because I had made the wallet months ago and didn't intend to use it back then... Don't take it easy, be 101% serious about any crypto process... No matter how long you are here for... EDIT: All is well for me, I had imported another wallet to my main one and I had the passwords to it ! When I checked it , everything was there ! So, no harm was done to me but I did learn a great lesson today :) [link] [comments] | ||||||||||||||||||
| Posted: 03 Jan 2022 12:53 AM PST You can't learn a thing from patterns about what's to come and anyone who claims otherwise is simply lying to get your clicks and views. Charts obviously play an important part in trading and analyzing the past or present but they cannot provide any insight on the future. Crypto is simply too volatile for that. Every clickbaity article or YouTube video with an exaggerated thumbnail is only there to make you click. It's either: "Bitcoin to $100K by EOY" or "Bitcoin will crash and reach $10K next week". Sometimes, like it happens with your daily horoscope, they guess right. [link] [comments] | ||||||||||||||||||
| What is your crypto new year's resolution? Here's mine: stop catching falling knives! Posted: 03 Jan 2022 06:40 AM PST Hello everyone, I'm really glad to write this and to wish you a great new year. May you reap huge profits! For this being right, you bag has to be filled with good tokens and your hands have to be steady... We all have bad habits which lower the performance of our investment strategy. Worse (or better, depending on your point of view), I think most of us know a lot about their biases. Maybe you follow FOMO, sell in fear, purchase tokens without doing your own research, try to time the market in order to gain cents.. What is your kink, and how do you intend to address it? Here is my new year's resolution: I will stop catching falling knives! Following my guts hasn't been so bad so far, but I feel like the soundness of my purchases is way too dependant on... luck. What about you guys? What is your bad habit, and what is your new year's resolution? EDIT: reading the comments, I understood that I was following another resolution which is buying more blue chips ;) [link] [comments] |
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