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    Cryptocurrency Daily Discussion - March 3, 2022 (GMT+0)

    March 03, 2022

    Cryptocurrency Daily Discussion - March 3, 2022 (GMT+0)

    Daily Discussion - March 3, 2022 (GMT+0)

    Posted: 02 Mar 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.

     

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
    • Comments will be sorted by newest first.

     

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    Hillary Clinton Saying "Crypto Needs More Regulations to Ensure Russia Don't Circumvent Sanctions" proofs she doesn't understand how Cryptocurrencies and Blockchain works

    Posted: 03 Mar 2022 05:31 AM PST

    Ukrainian flag NFT sold for 2258 ETH, worth roughly US$6.75 million

    Posted: 02 Mar 2022 06:43 PM PST

    Binance CEO Calls Total Ban on Russian Users Unethical

    Posted: 02 Mar 2022 08:20 PM PST

    Hear me out, but I think whilst Russians turning to crypto in short term may be good for price and an example of how crypto defies control, long term it strikes me as a very convenient angle for governments to use to heavily regulate crypto.

    Posted: 03 Mar 2022 12:12 AM PST

    Now i'm not saying i'm right, but there appears to be overwhelming support for sanctions on Russia. The only people who seem to be cheering for Russia in the west is the right wing, trump and I imagine a handful of republicans who'd prefer Putin over Biden (i'm not american btw, just the impression I get from the news)

    So lets imagine Russia evade the impacts of sanctions by using crypto? Surely governments saying "this is why we need regulation" would not be met with too much resistance by people not invested in crypto? (Which is thr majority). Politically it'd not be a difficult move to make.

    I'm not really sure what my point is, but I expect to see increasing amounts of "but russia are using crypto" fud.

    I guess to put it another way. If We ended up in world where crypto was a major means of trade, we'd not be able to effectively sanction Russia and there would be an increased risk of war and the west would have less means of control. I'm not sure that unless some kind of revolution happens, that will ever be allowed to happen.

    Tl:dr I think crypto regs are going to be expedited due to russian use of crypto (whether justified or not)

    submitted by /u/paulosdub
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    S. Korean crypto exchange freezes around 20 Russian accounts

    Posted: 02 Mar 2022 09:00 PM PST

    Lawmakers have removed the 'Bitcoin ban' from latest version of EU's crypto legislation

    Posted: 03 Mar 2022 02:35 AM PST

    Crypto firms told to comply with Russia sanctions and avoid becoming a 'loophole' | [Like I said yesterday, CEXs will eventually comply]

    Posted: 03 Mar 2022 03:10 AM PST

    Jerome Powell warns of the consequences of the Ukraine-Russia crisis for America - You know what that means: More Brrrrr to come. Bitcoin will go much higher in the coming months.

    Posted: 02 Mar 2022 11:13 PM PST

    With the COVID crisis almost over, the Fed had to change its monetary policy. No more unlimited money printing, no more injections of liquidity into the financial markets, and higher interest rates.

    The Fed took so long to announce this inflection of its monetary policy that one could have the feeling that it was simply waiting for the next crisis to announce that it was going to continue printing money fiat out of thin air in mass.

    So the crisis between Ukraine and Russia is very timely, if I may say so. War is always a horrible thing, but we can see that some people always find ways to take advantage of it.

    Jerome Powell is now warning us that the consequences of this war between Ukraine and Russia will make the situation more than uncertain for the American economy. With two weeks to go before the next Fed FOMC meeting, we have the feeling that Jerome Powell is preparing to tell us that the Fed does not want to change its monetary policy as expected.

    This war seems to be the perfect justification to get the consent of the people to continue printing fiat money out of thin air in a massive way. Inflation will continue to be very high, but everyone will be talking about the war. The attention of the general public will be diverted from this major issue.

    If it goes that way, we can expect the price of Bitcoin to go much higher in the coming months.

    submitted by /u/sylsau
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    Crypto exchanges in moral dilemma over whether to restrict Russian accounts

    Posted: 03 Mar 2022 01:56 AM PST

    Crypto exchanges in moral dilemma over whether to restrict Russian accounts

    Does CZ, Binance and cryptocurrency at large not have a responsibility to stand up and join the masses in levelling economic sanctions? Are they providing Russia a means to circumvent financial sanctions? Are Binance thereby indirectly inhibiting what are, at heart, measures designed to prevent a war and the deaths of countless innocent people?
    I think we should separate the politicians to the normal people, but the Ukrainian Vice President Mykhailo Fedorov's appeal to crypto exchanges asking them to sabotage not only politicians accounts, but also ordinary users, what's your point of view?

    https://preview.redd.it/3y89cyxo55l81.png?width=590&format=png&auto=webp&s=06553ff735270781c5c62b84592a70966b73a92c

    submitted by /u/SwapzoneIO
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    Two ETH Whales Accumulates Whopping 885.27 Billion Shiba Inu Tokens Within 24 Hours

    Posted: 02 Mar 2022 11:22 PM PST

    Today is Safemoon's 1st Birthday. Let's look at what they've achieved for this milestone event.

    Posted: 02 Mar 2022 02:01 PM PST

    NOTHING.

    Hah, just kidding. But it's not too far off from the mark.

    • Safemoon was released on the 2nd March 2021, after core developer "Safemoondev" copy-pasted the BEE contract line for line, changing the overall tax from 5% to 10%.

    • Safemoon to this day claim there was a "fair launch", however in reality, Safemoon launched with zero announcements on March 2nd 2021, where immediately, several wallets purchased hundreds and thousands of dollars worth of a token listed at less than $0.00000000002 (10 zeroes, meaning one hundred bucks would buy you 5 Trillion Tokens This price is correct as of March 5th, I have no earlier price entries).

    • Public availability was then on the 8th March, where the token price had already raised significantly to $0.000000001. At this point, new entrants were still getting billions of tokens for relatively small sums, but of course, the people selling got very lucky - these original wallets are widely speculated to be Developers & Friends/Family of developers, with investigation to confirm proof of this currently underway. Whoever bought between March 2nd and March 8th could've earned up to 4,900%

    • Safemoon enlists the help of several prominent influencers to keep the volume high and price pumping. Names such as Soulja Boy, Jake Paul, etc. There is currently an ongoing Class-Action lawsuit alleging these influencers, and Safemoon dev team pumped and dumped Safemoon.

    • An original roadmap is published. This lays out a year's worth of activity. To this day, most items have been abandoned, or were released months late.

    • In May 2021, Safemoon reaches the All-Time-High of $0.00001094. If any Pre "fair-launch" wallets held, they are up 54,699,900%. A $100 investment at the start of launch would therefore yield $54.7m. Currently, the price is -87.27% down from ATH.

    • The Certik Audit is complete and notes several major security flaws. Chief of which;

      As a result, overtime the _owner address will accumulate a significant portion of LP tokens

      Remember this.

    • The Wallet was supposed to launch at the end of June. In early July, with no wallet in sight, the devs & moderators on the Safemoon subreddit & discord pretend they have a beta wallet to test and claim to have distributed it to 500 people who signed an NDA to keep it secret. It's now 8 months later and not one person has ever confirmed this wallet existed. At all. No redacted screenshots, no download logs. There is no proof of its existence.

    • The Wallet is now scheduled for end of August. A date has been set. Safemooners are utterly convinced it will bring them legitimacy and respect in the Crypto community. Finally, their first real and tangible product. August 28th rolls round and Billboards appear in London & New York advertising the wallet. CEO John Karony is hyping the launch 10 minutes before it is due to be released at 4pm. 4pm rolls around. No wallet. Nothing. Links to Google Play and iOS store redirect to the homepage. A whale sells trillions upon trillions of tokens 30 minutes before launch, causing a huge cascade of price over the next weeks.

    • An independent company called Doxxlocker audits Safemoon. They use the previous flaw stated in the Certik audit as their jumping-off point. They discover that via the very same SwapAndLiquify function, an address did indeed accumulate significant quantities of tokens from the LiquidityPool. Those tokens were then wash-traded and sold on the open market. In total, over $68.4m in BNB & Safemoon were sold.

    • Three team members simultaneously quit. The Chief Operating Officer, Chief Blockchain officer and Chief Technology Officer. Jack is now living a life of abject luxury despite "never owning any Safemoon". Prior to this, he worked as a part time DJ and twitch streamer. Kay.

    • The Wallet is finally released. It has a non-functioning calculator, and many Safemooners notice it looks strangely familiar. It appears to have been built from the open source code of Trust Wallet.

      [1], [2]

    • After several updates, to give them credit, in a short amount of time the wallet was more of less functional. It was missing some features from the Roadmap. "Military-grade" encryption was nowhere to be found... and there was no buy button.

    • The "direct-buy" functionality finally arrives, brought to Safemooners via Wyre. Now you can buy Safemoon with just a 3.9% fee. That means if you buy 1 million Safemoon, you get 900,000 because of the 10% tax and it costs you 3.9% more. When you sell, you are taxed another 10%, so buying Safemoon direct has a whopping 23.9% tax added on top. "ThE eVOlutION!"

    • Thomas leaves. The man they called "Papa". The "Blockchain Wizard". He had no proven experience coding a single material thing and helped pepretate a story that he rejected a $2,000,000 job offer from Ripple. Thomas originally handed in his notice, then was convinced to stay. He didn't last long.

    • Bitmart is hacked and 28 Trillion Safemoon tokens are stolen and sold on the open market, crashing the price. Moonboys speculate this is only a good thing, as Bitmart will buy back the tokens at a higher price than the market sells, therefore the price will go up. Two months later, it appears Safemoon CEO John Karony has transferred Bitmart Billions of V2 tokens under the counter, profiting, while Safemoon investors are left holding the shit. They didn't even get reflections from the transfers.

    • On Halo Infinite's release day, investors start to demand updates to Roadmap items. Many things were promised before the end of the year, such as the Blockchain and Exchange. CEO Karony tells them "Hush, Halo time". Not once. Twice.

    • Now it's time to upgrade the contract! Apparently, the reason there is no Safemoon Blockchain, Safemoon Exchange or major Exchange listings are because this token has too many decimals (quick, nobody mention Shib!) so a reverse-split happens, where Safemoon tokens are traded 1000:1 for Safemoon V2.

    • The "upgrade" is botched. V2 trades at a higher price, and major arbitrage happens. People sell V2, re-buy V1, trade it for V2 tokens and sell, repeating the process to profit. V2 wallets aren't receiving reflections properly. The community is furious and turns on itself.

    • Safemoon puts their best minds together and comes up with a plan to implement a 100% tax on the V1 token, confiscating any funds transacted into the liquidity pool. They signal intention to do this just 1.5 hours before implementing the 100% tax. Many, many, many investors lose thousands and thousands of dollars. Safemoon has not mentioned any plan to reimburse these folks. Currently, a second Class-Action lawsuit is brewing because people rightfully feel like Safemoon has stolen their money.

    • "Operation Pheonix" [sic] has been revealed. Safemoon is now a "Human-focused technology company" who are spraying Rain-X onto wind turbines built by a third party, in order to generate energy in The Gambia, where a portion of the energy generated will convert into Safemoon. None of the mechanics are clear. The benefits of application of "nanotechnology" "hydrophilic" particles are not clear. How this ties into a Cryptocurrency is not clear. It's alleged people can have ownership of these wind turbines via an NFT - how that works is not clear. Safemoon community continues to confuse Windmills with Wind Turbines. Windmills mill wheat into flour. That has always been clear.

    • Safemoon opens their headquarters in Utah. A large office section of a building on a business estate is leased. Safemoon claim to have 90 employees, but only about 5 of them have ever been seen.

    • Advertisements go up in Times Square. These play for 15 seconds per hour, every hour of every day, for an entire year. Looking at Advertisement companies in Times Square, one of these billboards would cost between $6-15m dollars for a year. Safemoon has 4 large ones. These billboards have not materially increased the token holders, price or volume.

    • Mandala exchange, a tiny offshoot of Binance with one of the lowest CEX volume rankings announces they are officially adding Safemoon. Mandala does not allow trading in the US. The launch is set for Feb 17th. The 17th Arrives. Mandala releases a statement saying they are having issues implementing Safemoon, but to hang tight. A few days later, they release another statement saying they are having unforeseen issues and advise to withdraw all Safemoon deposited onto Mandala.

    • 3 months after V2 launch, only 626,000 of the 3 million Safemoon V1 wallets have migrated. Of the 626,000 wallets, 79% of these holders have less than $600.

    • It's now today, March 2nd 2022. A full year after Safemoon was released. Safemoon teases a month of surprises, and kicks the celebrations off by changing the domain of Safemoon.net website to Safemoon.com, and changing the logo. There are no other changes.

    Happy Birthday, Safemoon.

    submitted by /u/TNGSystems
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    Loopheads: LRC's very own Dynamic NFT now on its 2nd drop! An ERC 1155 proof of concept

    Posted: 03 Mar 2022 03:45 AM PST

    Besides, If we were going to voluntarily freeze financial accounts of residents of countries unjustly attacking and provoking violence around the world, Step[One] would be to freeze all the US accounts : Kraken CEO

    Posted: 02 Mar 2022 03:27 AM PST

    Following the requests from Ukrainian minister to sabotage ordinary users from Crypto exchanges

    Kraken CEO Jesse Powell has a very good and fair point

    Besides, If we were going to voluntarily freeze financial accounts of residents of countries unjustly attacking and provoking violence around the world, Step[One] would be to freeze all the US accounts

    The dude got a point,If citizens should be punished for the actions of their govt, then it should start from freezing accounts of US citizens

    I like this dude, he got some balls and really stands for it, never mince his words,He is one of the right guy to lead Crypto.

    submitted by /u/Acceptable_Novel8200
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    It is almost impossible for Russia to evade Sanctions by Using Crypto

    Posted: 03 Mar 2022 05:53 AM PST

    So this is the news being highlighted that Crypto would be used to evade Financial Sanctions

    At this point, it is almost impossible to do that,why ?

    -Most of the Russian Banks have been cut off from SWIFT, it is almost impossible to transfer money from Banks to Crypto exchanges..Right?

    -Unless the buyer and Seller has account in same bank, they can do the P2P transaction. Average Sergey can use this method but not the oligarchs, politicians because I doubt that someone would have that much Crypto to sell to these big guys

    -Most importantly,even if someone got successful to get hold of big amount Crypto,it's a public ledger any large amount of Crypto transaction can be monitored by the officials from its origin to the destination.

    This is what I understood according to my knowledge.Correct me if I am wrong

    IMO, A narrative is being pushed that "Russia would use Crypto to evade financial Sanctions" which might be used as a ground to crackdown on Crypto

    submitted by /u/Acceptable_Novel8200
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    Ukraine has the best crypto adoption in Europe and fourth globally

    Posted: 03 Mar 2022 03:45 AM PST

    Crypto market cap is once again above $2 trillion (Congrats to all hodlers!)

    Posted: 02 Mar 2022 08:25 AM PST

    Ontario man devastated after falling for $260,000 scam that drained his entire life savings

    Posted: 02 Mar 2022 05:54 PM PST

    " ‘Help Ukraine’ Scams Appear as Country Seeks Crypto Donations." Please be careful and verify the receiver before sending any amount.

    Posted: 02 Mar 2022 01:59 PM PST

    Bitcoin, Ether, And USDT Are Most Active in Ukraine As Cash Transactions Are Almost Dead

    Posted: 02 Mar 2022 10:19 PM PST

    Three wildly different price predictions for BTC, including one that puts it at $12.5 million by 2031.

    Posted: 03 Mar 2022 04:20 AM PST

    Price predictions are funny. I find them entertaining and a solid hit of hopium when a prediction is near the moon. It's incredible how analysts have vastly different timelines for BTC and its growth. I wonder how all the "100k EOY" preachers felt when the date passed and their predictions went out the window. I guess they move the goalposts. Let's take a look at three predictions that were made on February 28th, 2022.

    Robert Breedlove

    • Point of View: Founder and CEO of the digital assets marketing and consulting firm Parallax Digital
    • Prediction: $307,000 by October 2021 (now passed), and $12.5 million by 2031
    • Why: Inflationary pressures after COVID-19 will drive interest in cryptocurrency, pushing the value of Bitcoin up higher than previous projections estimated, Breedlove said in an interview earlier this year. Known as more of a philosopher type among crypto enthusiasts, Breedlove speaks often about the broader social implications of crypto as a form of more transparent, decentralized currency — but his price predictions haven't exactly been spot-on.

    Matthew Hyland

    • Point of View: Technical analysis and blockchain data analyst
    • Prediction: Bitcoin can reach $100,000 in 2022
    • Why: The price of Bitcoin in January 2022 is almost equal to its price in January 2021, but there's a new demand for altcoins. There's also an ongoing trend of Bitcoin supply leaving major exchanges (presumably to be stored in offline crypto wallets) He also recently tweeted that a dip below $40,000 could lead to "free fall" into a Bitcoin bear market.

    Ian Balina

    • Point of View: Bitcoin investor and founder of crypto research and media company Token Metrics
    • Prediction: Bitcoin can go to $100,000-$150,000, but the timeline is unclear
    • Why: Bitcoin is in a bearish sentiment cycle, but the total crypto market and other crypto asset classes are not. Bitcoin was the first cryptocurrency, but now others have surpassed it in innovation when it comes to what experts call "Web 3" — aka the new internet built on blockchain. The release of new altcoins and hype about the metaverse will continue to drive the demand for crypto, and Bitcoin will therefore bounce back eventually.

    Big financial institutions have made their own predictions, as well, with JPMorgan predicting a long-term high of $146,000 and Bloomberg predicting it could hit $400,000 if the currency climbs at rates comparable to the past.

    I have been holding BTC since 2019 and accumulating through the years. My goal was to reassess in 2030, but it seems like waiting until 2031 is the best bet, lol.

    •source

    submitted by /u/ipetgoat1984
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    “Mexico is on the list” for BTC Adoption, Other Countries To Follow Suit

    Posted: 03 Mar 2022 03:37 AM PST

    A Balanced Portfolio Should Consist of at least 70% BTC, 60% ETH, 30% top 15 alts, 20% stables, and 10% low cap

    Posted: 02 Mar 2022 04:21 AM PST

    I've been seeing a lot of people post about adding BTC and ETH to their portfolio and asking questions how they should split up their portfolio. In this thread, I will share my experience on the perfect breakdown.

    To start, you want at least 70% in BTC. This is the granddaddy of all coins and your most stable. The higher the percentage of BTC, the better.

    Next is ETH, I've found 60% is a good level. Even if you just have BTC and ETH, you will have 130% of your portfolio in 2 coins, up for 100% you started with. To instantly have 30% more, you are genius.

    Next up is the large-cap alts. I like 30% here. You can LRDYOR (let Redditors do your own research) to decide which coin is best for you, but possible examples are SOL, ADA, DOT, LINK, AVAX, etc. Following advice up to this point, you have at least 160% portfolio.

    Keeping 20% stables is key to any portfolio. You can earn interest (up to 20%) on stables, plus any price action. I saw one tik-tok'er predict Tether would go to $5 this year. I think that's bullish, but I can easily see USDT going to $3. Let's say you earn 20% interest on your 20% investment, you now have 40% (compounding interest works wonders). Now your portfolio allocation is at 200% and you have doubled your money.

    Now that you have doubled your money, going for 100% portfolio allocation to 200%, you have freedom to gamble on low cap coins. I'd keep this to 10%.

    This strategy will work for everyone. It will instantly turn you into a billionaire overnight. Follow me for more financial advice.

    submitted by /u/002timmy
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    $7.5 Trillion Asset Manager Charles Schwab Files for Crypto Economy ETF

    Posted: 02 Mar 2022 02:04 PM PST

    Proud or Cocky?

    Posted: 03 Mar 2022 04:24 AM PST

    Proud or Cocky?

    ​

    https://preview.redd.it/afo9evotv5l81.jpg?width=2281&format=pjpg&auto=webp&s=9f39d20f2469146a8ab436d6a3f26213fcd06861

    Came across this random house in a "boring" neighborhood while traveling through Europe, when suddenly this orange Bitcoin sign caught my eye!

    Probably the N°1 advice in this sub r/Cryptocurrency: don't tell anyone you own crypto!
    *Slaps it in everyone's face with flashy lights on the window*

    Not sure what to think of it, bold in some way? Kinda felt the urge to ring the bell and ask about it, but eventually didn't because it would probably be awkward.

    Anyway, I'd be shitting my pants for a 5$ wrench attack. Or am I being too paranoid/cautious?

    Not (Financial) Safety Advice.

    PS: do not DM me for the location or address lol

    submitted by /u/BTCDEX
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    Bitcoin again viewed as safe haven amid geopolitical tension

    Posted: 03 Mar 2022 04:40 AM PST

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