People used to pay each other in gold and silver. Difficult to transport. Difficult to divide.
Paper money was invented. A claim to gold in a bank vault. Easier to transport and divide.
Banks gave out more paper money than they had gold in the vault. They ran “fractional reserves”. A real money maker. But every now and then, banks collapsed because of runs on the bank.
Central banking was invented. Central banks would be lenders of last resort. Runs on the bank were thus mitigated by banks guaranteeing each other’s deposits through a central bank. The risk of a bank run was not lowered. Its frequency was diminished and its impact was increased. After all, banks remained basically insolvent in this fractional reserve scheme.
Banks would still get in trouble. But now, if one bank got in sufficient trouble, they would all be in trouble at the same time. Governments would have to step in to save them.
All ties between the financial system and gold were severed in 1971 when Nixon decided that the USD would no longer be exchangeable for a fixed amount of gold. This exacerbated the problem, because there was now effectively no limit anymore on the amount of paper money that banks could create.
From this moment on, all money was created as credit. Money ceased to be supported by an asset. When you take out a loan, money is created and lent to you. Banks expect this freshly minted money to be returned to them with interest. Sure, banks need to keep adequate reserves. But these reserves basically consist of the same credit-based money. And reserves are much lower than the loans they make.
This led to an explosion in the money supply. The Federal Reserve stopped reporting M3 in 2006. But the ECB currently reports a yearly increase in the supply of the euro of about 5%.
This leads to a yearly increase in prices. The price increase is somewhat lower than the increase in the money supply. This is because of increased productivity. Society gets better at producing stuff cheaper all the time. So, in absence of money creation you would expect prices to drop every year. That they don’t is the effect of money creation.
What remains is an inflation rate in the 2% range.
Banks have discovered that they can siphon off all the productivity increase + 2% every year, without people complaining too much. They accomplish this currently by increasing the money supply by 5% per year, getting this money returned to them at an interest.
Apart from this insidious tax on society, banks take society hostage every couple of years. In case of a financial crisis, banks need bailouts or the system will collapse.
Apart from these problems, banks and governments are now striving to do away with cash. This would mean that no two free men would be able to exchange money without intermediation by a bank. If you believe that to transact with others is a fundamental right, this should scare you.
The absence of sound money was at the root of the problem. We were force-fed paper money because there were no good alternatives. Gold and silver remain difficult to use.
When it was tried to launch a private currency backed by precious metals (Liberty dollar), this initiative was shut down because it undermined the U.S. currency system. Apparently, a currency alternative could only thrive if “nobody” launched it and if they was no central point of failure.
What was needed was a peer-to-peer electronic cash system. This was what Satoshi Nakamoto described in 2008. It was a response to all the problems described above. That is why he labeled the genesis block with the text: “03/Jan/2009 Chancellor on brink of second bailout for banks.”. Bitcoin was meant to be an alternative to our current financial system.
So, if you find yourself religiously checking some cryptocurrency’s price, or bogged down in discussions about the “one true bitcoin”, or constantly asking what currency to buy, please at least remember that we have bigger fish to fry.
We are here to fix the financial system.
Given how early in the Rogers Adoption Curve for Crypto we are, I would like to take a moment so we can just imagine what this technological revolution, which I consider is the next huge step for human kind, could bring. I will emphasize some socioeconomic implications of descentralization, but I`m mostly interested in listening to, and debating your inputs.
Blockchain and Crypto Currency are here to change the world forever.
The implications of decentralization
As you may know one of the core proposals of blockchain is decentralization, and with it we can optimize so many processes that this alone could be the revolution we are talking about. By eliminating intermediaries, we can save on the cost they add to the supply chain ensuring those that create the value, keep it. Or we can simply save on fees.
To quote the man himself:
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly. – Vitalik Buterin.
To put it simply, imagine that you replace Binance (a centralized company) with a robot. A robot that you have programed so well, whose code you publicly audit, and that is so safe you can trust it with billions of dollars in liquidity pools, so it proceeds to host and operate the trading platform by itself. In case you didn’t know, this is already a reality! Many people here trade on those platforms on a daily basis.
But this goes beyond replacing Centralized Exchanges with Automated Market Makers, Airbnb with a blockchain DApp that connects landlords and costumers, or even banks with complex smart contracts that allow you to borrow, save, tokenize physical assets, and so on. This goes way beyond.
Here is where I start to fantasize of the future. Think about replacing capital itself, think about getting rid of corporations. Lets dream of a world with DAOs massive adoption.
With DeFi, we may no longer need a company like Nestlé…
And specially not their investors. Of course, you will still need the people administrating, planning, monitoring, generating new ideas that adapt to their context, and creating innovative solutions for a complex world only humans can comprehend. But the figure of shareholders and CEOs that steal all the value that workers create and leave them with a tiny fraction of it, can disappear. This can be the basis of a once in a century transformation.
Just as an example: Nestlè’s coffee growers in Colombia keep less than 10% of the final sale price, and barely make a living on it, so are actually abandoning the rural areas.
With Blockchain, DeFi and Smart Contracts, people like you and me can collectively fund such an operation, and then agree upon specific terms like wages by direct democracy, voting with our crypto holdings. Then we would proceed to allocate funds, hire “developers” which would ultimately be regular office jobs that keep the organization functioning. Once in operation we would frequently vote on decisions and results, which would ultimately keep the highest level of accountability for people working in the organization. This is already happening by the way, this is how some blockchain projects work today. We just haven’t applied it to industrial and physical supply chains yet.
Let’s go back to our project to replace Nestle. Imagine that an organization’s main goal is not to maximize profits for shareholders and bonuses for CEOs anymore. Instead, it’s the interest of regular people and the company’s collaborators that drive its actions.
Most likely, you and I will want to consolidate an efficient and effective supply chain, that is sustainable and keeps the dignity and wellbeing of its collaborators as a guiding principle. We are not longer at their mercy on issues like climate change, we can now take immediate action against it, or stop endangering and hoarding water supplies in classic Nestle fashion.
Also, we are making profits, so we are redistributing capital, and improving our quality of life, which will be most notorious in the most vulnerable communities, usually those that extract/harvest/mine raw materials.
This is what could happen with the blockchain descentralization of business. And you could apply it to pretty much anything, but maybe initially it could be for low labor and capital intensive businesses.
I’ll give you another example. I work for a solar power multinational company. If you don’t know it, solar energy is essentially a financial product, most people working in these companies don’t care about the world, its simply that solar is a very safe and lucrative hustle, and all investors care about is having a nice return of investment (ROI). As of now, my company works exclusively for large scale corporate clients or the state itself, given that’s where the nice ROIs are, since they give you the projects that allow you to place large capitals at once. This means, as of today, we blatantly ignore the regular people that seek for our help and funding to power their farms and/or houses with solar energy. They’re not that profitable my boss tells me. This is shitty, and I’ve thought of quitting several times.
But back to the point. Now, imagine once again, we get rid of the institutional investors. Now you and me create Reddit Solar Co, a DAO. Our only purpose is to facilitate access to electricity to those without it, and to advance in the urban implementation of renewable energy. We help the world, make dividends that are automatically distributed by the DAO, and also our own Crypto is rising in value.
And this is not the best.
Let’s not forget of synergies.
So, we just created a DAO that manufactures and distributes food globally right? Or maybe Reddit Solar Co. As an organization born on the blockchain, we won’t have to adapt to the state of the art innovations on the crypto world like an old steam locomotive attempting to adapt a warp drive on top of it. We were born in space.
From the beginning, our Ethereum based DAO could adopt VeChain’s solution for supply chains, Cardano will help us to give an integral solution to the unbanked communities that provide our raw material, they now have IDs, access to DeFi and education. The land deeds and legal documents that relate to our enterprise are certified by LTO Network, we move money internationally with XRP or Stellar, and don’t worry, we use Polkadot to ensure proper blockchain interoperability.
Too complex for you? Don’t worry, you don’t even have to know or care about this, leave that to others. You’re into finance. Maybe sales is your thing and there’s a little Michael Scott in you. Or you`re into social work and want to supervise our community engagement at the start of the supply chain. Just go do your thing! You don’t necessarily have to be involved in all of this.
All you know is you do your job and receive your crypto salary.
Just as computers and the internet changed the world forever, and not only had economic implications but also changed our culture, routines, work lives and ways to interact with each other, crypto will. We are just so early; that all we can do for now is dream.
You’re having too much hope in humanity dude…
Sure, I may be making some optimistic assumptions on the motivations of humans, I may be saying that we will use this technology for good, and that we care about each other, and that’s one way to look at it. But we could also argue in favor of this from a sceptic perspective: even if you don’t care about the collective wellbeing of your community, it’s in your interest to live in a safer environment right? Ergo you want to reduce poverty. Its also in your interest to stop global warming so organized human life can continue to exist, or to make sure you and your children will have water and food in 50 years, that’s why you will want to use technology for good even if you only care about yourself. Also lets not forget the powerful incentive of profits. Crypto has the clear potential to achieve all of this.
Most of the current generation of crypto projects will be ready and operating within the next 3 years, so all we will need by then is the will to use this technology for good, and the vision to change the world.
This is just the beginning, we will be killing industries but giving birth to others we could have never imagined before.
Cons of Crypto:
A coin called “Chia” is gobbling up 1,125,000 TB storage per day. Just to farm this token that no one seems to use. This takes resource wastage to a whole new level.
Chia is a coin that works on a proof of time space consensus. I.e. to farm this coin, one must allot dedicated hard drives and allot the space (known as plots), and get rewarded for it. Sounds good on paper, and one could even be tempted to think they may put that spare 500 GB space left and earn some passive income on it.
Except, this one already requires industrial grade storage space, just to farm a token that has almost zero adoption anywhere.
As you can see from this coin’s explorer, the storage is growing by almost 1000 PiB per day, in the last few days.
https://www.chiaexplorer.com/charts/netspace
1 PiB = 1125.9 TB.
So a growth of 1000 PiB per day => almost 1125000 TB of storage per day is added onto this network, just to mine these coins. This equates to 1.1 million 1 TB drives added per day just to support farming on this network!
Pros of Crypto:
– People in Hong Kong Use The Crypto and Blockchain To Fight Against Media Censorship
Reference
– Data indicates that 76% of Bitcoin investors are still in profit
Crypto is definitely a good way to make money. However, you might end up finding the tech interesting. I know that I sure did, and having a sound understanding of your investment will make a big difference in your ability to hodl. It doesn’t have to be much, just a few YouTube videos.
Strategies when it comes to cryptocurrencies
The HODL’er: you buy and basically you never sell. It’s kind of the holy grail of strategies when it comes to crypto according to this sub. Buy and forget and check back 10 years later. You’re a millionaire, Harry! No stress and no maintenance. You can even buy more over time and continue stacking your fat holdings. Do this if you believe in crypto long term
The Goal Setter: set a goal and sell when you reach that goal. Maybe it’s 3x and I’m out. Or maybe it’s make enough for student loans and I’m out. Or maybe it’s $1MM and sell half. Can be anything. Stress depends on your goal.
The Active Trader: Buy high and sell low
The Swing Trader: Some people are good at trading – they usually wait for those days where the whole market bleeds 20-30% in a day then they buy and wait for the bounce and they sell. Rinse and repeat. But they also risk missing out on the rocket jumps. But they also minimize the risk of being in the market when there’s a crash. In the end they might be able to increase their total holdings but for most beginners they lose rather than win. High stress and high maintenance.
The Cycle Trader: you DCA in during the bear market when everything has lost 80-90% of its ATH (alternatively, a year before the Bitcoin halving). Then you slowly sell off everything approximately a year after crypto starts trending up and enters a bull market. So this method has worked well for many people – they don’t necessarily time the top right but they continue to increase their holdings over several cycles. This might be the smart move if you have discipline. The risk is that history no longer repeats itself. It has worked the past 2 cycles but it’s not guaranteed it’ll work again. Medium stress, low maintenance
The Arbitrager: usually they have algos do the trading for them. They minimize risk and just arbitrage the price differences between exchanges. They might not care about crypto and just want to make money. They miss out on the bull run but also miss out on the bear market. Low stress, medium maintenance.
The Moon Chaser: 1000x or bust. Forget $10K eth or $100K btc, they want the next shiba or safe moon. They buy coins with market caps in the millions and hope for the pump to sell. This is like the lottery ticket buyers of crypto. High stress, high maintenance, smooth brain
The correct mentality for investing in the crypto market is thinking in YEARS not MONTHS.
Crypto: What to do in the bear market
–HODL, dont sell with a loss if you believe in your Coin long term.
–Stake, staking is really important! I cant tell you enough, if we are in a bear market and you can stake for a few years you can easily get 20-30% more coins then you have right now.
–DCA, keep buying. The bear market is where you DCA, dont stop buying. Right now is where you can get coins cheap! Just dont stop DCAing cause you are scared! Pick projects you believe in long term and keep buying at low prices!
–Get rid of coins you dont believe in long term, shitcoins. Many wont survive the bear market.
–Research coins for the next bull run!
Crypto Currency Market Cap Visualized during the Pandemic
1- Reddit
2- Reddit
3- https://research.binance.com/en/projects/bitcoin
4- NYDIG Power of Bitcoins Network Effect
5- The original Cypherphunk vision
6- Unlike Gold, BTC is a digital asset that is easy to move around
7- https://coinmarketcap.com/historical/
Welcome to the enigmatic world of cryptocurrency, where the allure of free tokens opens up a realm of opportunities and adventures for…Continue reading on Medium »
Want to get this Zignaly $ZIG Airdrop through DappRadar? If so, you’re in the right place. As the popularity of airdrops continues to soar…Continue reading on Medium »
Airdrops have become a popular way for cryptocurrency projects to distribute tokens to a wider audience. Claiming a LimeWire $LMWR airdrop…Continue reading on Medium »
The Toshi cryptocurrency airdrop offers complimentary TOSHI tokens to eligible individuals, serving as a promotional strategy and a means…Continue reading on Medium »
Welcome to the enigmatic world of cryptocurrency, where the allure of free tokens opens up a realm of opportunities and adventures for…Continue reading on Medium »
Are you ready to claim your share of cryptocurrency through a Bitcoin BEP2 $BTCB airdrop? In this comprehensive guide, we’ll walk you…Continue reading on Medium »
The world of cryptocurrency is buzzing with excitement over the concept of airdrops. For those unfamiliar, airdrops are a way for…Continue reading on Medium »
enter airdrop pageContinue reading on Medium »
Want to get this Phala Network $PHA Airdrop through DappRadar?Continue reading on Medium »
Introduction: Excited about seizing your Hopscotch Airdrop opportunity with DappRadar? You're in the right place! As the popularity of…Continue reading on Medium »
Entry: Are you excited about claiming Storj DCS Airdrop through DappRadar? If so, you're in the right place. With the increasing…Continue reading on Medium »
Are you eager to dive into the world of cryptocurrencies and start claiming free Pundu $PUNDU airdrops effortlessly? If so, you’re in the…Continue reading on Medium »
Introduction: Are you prepared to grasp your Exponential DeFi Airdrop opportunity with DappRadar? If so, you're in the right place. With…Continue reading on Medium »
Introduction: Excited about seizing your Goldfinch Airdrop opportunity with DappRadar? You're in the right place! As the popularity of…Continue reading on Medium »
Entry: Are you excited about claiming alien frens Airdrop through DappRadar? If so, you're in the right place. With the increasing…Continue reading on Medium »
Entry: Are you excited about claiming guild Airdrop through DappRadar? If so, you're in the right place. With the increasing popularity…Continue reading on Medium »
Introduction: Are you prepared to grasp your Flink Airdrop opportunity with DappRadar? If so, you're in the right place. With the…Continue reading on Medium »
Entry: Are you excited about claiming Octant Airdrop through DappRadar? If so, you're in the right place. With the increasing popularity…Continue reading on Medium »
Introduction: Are you prepared to grasp your Drawtech Airdrop opportunity with DappRadar? If so, you're in the right place. With the…Continue reading on Medium »
Introduction: Are you prepared to grasp your Volmex Finance Airdrop opportunity with DappRadar? If so, you're in the right place. With…Continue reading on Medium »
If you’re curious about the world of participant airdrops and governance tokens, the ApeBond $ABOND airdrop is a fantastic place to begin…Continue reading on Medium »
Introducing the concept of Linear $LINA airdrops, a strategic approach to maximizing earnings in the cryptocurrency space. Linear $LINA…Continue reading on Medium »
Introduction: Are you prepared to grasp your Oamo Airdrop opportunity with DappRadar? If so, you're in the right place. With the ongoing…Continue reading on Medium »
Are you ready to claim your share of cryptocurrency through a Creditcoin $CTC airdrop? In this comprehensive guide, we’ll walk you through…Continue reading on Medium »
Airdrops have become a popular way for cryptocurrency projects to distribute tokens to a wider audience. Claiming a Nutcoin $NUT airdrop…Continue reading on Medium »
If you’re curious about the world of participant airdrops and governance tokens, the WaultSwap $WEX airdrop is a fantastic place to begin…Continue reading on Medium »
Are you ready to embark on a cosmic journey into the world of decentralized finance? Look no further than Kelp Dao $rsETH crypto, the…Continue reading on Medium »
Introduction: Are you prepared to grasp your Vertex Protocol Airdrop opportunity with DappRadar? If so, you're in the right place. With…Continue reading on Medium »
Ever stumbled upon the term ‘PepeFork $PORK airdrops’ and wondered what magic beans could possibly be dropping from the digital sky? Or…Continue reading on Medium »
💰Go to the Wrapped HBAR $WHBAR Airdrop pageContinue reading on Medium »
submitted by /u/DrinkMoreCodeMore [link] [comments]
Welcome to the Daily Crypto Discussion thread. 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. Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance. Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily Crypto Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/CryptoDaily- [link] [comments]
submitted by /u/raulbloodwurth [link] [comments]
So, JP Morgan about to drop its own Blockchain…? submitted by /u/Jay_Bird_75 [link] [comments]
Some of you, at least in germany may have already seen the notification at kraken of their new partnership to comply with EU and German law.. it's great but has some negative aspects to it like many cryptos being unsupported. One of those are even ICP and most concerning MOONS! Here is the link to check for the details: https://support.kraken.com/hc/en-us/articles/kraken-powered-by-dlt-finance-asset-support Do we know if this may change again the future, that support will be given in any near time? submitted by /u/Orangensaft007 [link] [comments]
submitted by /u/InclineDumbbellPress [link] [comments]
Recently a victim was "re-phished" due to forgetting to revoke old approvals. About 10 months ago, the victim approved a malicious signature and 37K in crypto assets was drained. Among the assets stolen were USDT and PRE tokens. Instead of revoking token access or using a fresh wallet, the victim refunded the wallet losing another 51K in USDT. Below is an image of the movements from the victim's wallet to the scammer wallets. Above is a look inside the victim wallet of 0x6B099633b4b4F0eec2721f706B7F2a3b6D6c6a8F. It sucks to lose funds once to a phishing scam. The 2nd time could of easily been prevented. If you're a victim of a phishing scam: ALWAYS REVOKE TOKEN APPROVALS. To be 100% safe, I recommend using a fresh wallet. Below are the wallets of interest: 0x6B099633b4b4F0eec2721f706B7F2a3b6D6c6a8F - Phished VICTIM Wallet 0x37Df413291dCBAfbefFe78A9EB72abd913Bdc3d2 - Clean VICTIM Wallet 0xFC4EAA4ac84D00f1C5854113581F881b42b4A745 - Scammer Wallet stole 51K (I posted about this one here a couple of weeks ago) 0x34f0503AA6750f878f60Cb7B56D6B62E30489728 - Scammer Wallet stole 37K How the First Scam Happened The victim signed a malicious signature. The victim could of been scammed from a phishing website promising rewards, a fake airdrop or through other means. The point is, the victim gave approval to the scammer for token transfers. Permit2 approvals allow scammers to spend an unlimited amount of your tokens. In this case, Inferno Drainer was used on the backend to do the dirty work of draining the victim's wallet of 31.3K of USDT and 5.5K PRE tokens. Above is the Etherscan transaction receipt. The victim gave Unlimited Approval of USDT from his wallet of 0x6B099633b4b4F0eec2721f706B7F2a3b6D6c6a8F to the malicious contract of 0x0000553F880fFA3728b290e04E819053A3590000 (Inferno Drainer). How Permit2 Works Permit2 is a versatile smart contract designed for managing approvals in an intuitive way. Once users give it an unlimited approval, Permit2 opens up the possibility for further delegating permissions to other smart contracts. I've talked about the downsides of Permit2 in previous posts. The upside is it provides less friction for the end user. The user doesn't need to send separate token approvals and Permit2 enables gas free signatures for the tokens. Scammers can abuse this function because most users don't know what they are approving. Additionally, phishing websites can trick victims into giving scammers approval to multiple tokens at once through Permit2. Drained a 2nd Time Without revoking approval access, the scammer can go back for a 2nd helping of your crypto. I can see on-chain the victim sent 51.5K in USDT from his clean wallet to the phished wallet. About 3 days later, that 51.5K now belongs to the scammer. Funds moved from Clean VICTIM Wallet to Phished VICTIM Wallet to Scammer Wallet. The scammer still has USDT approval on the victims's wallet and was able to complete the transaction 10 months after the initial scam. I posted about this wallet - 0xFC4EAA4ac84D00f1C5854113581F881b42b4A745 and it's connection to Inferno Drainer about 2 and a half weeks ago. I'll post in the comments below. How to Revoke All Token Approvals The easiest and simplest way is to use revoke.cash. It's good practice to periodically check the permissions you allow on your wallet every few months. Phishing scammers can be extremely sophisticated and expert tricksters. It's very easy to interact with a malicious contract without understanding the risks. If you believe you've engaged with a malicious smart contract, you're going to want to immediately revoke all approvals. Below are the steps: Go to revoke.cash Connect your wallet (Please make sure it's the actual revoke.cash!) Give authorization Revoke any approvals from unauthorized spenders. submitted by /u/jbtravel84 [link] [comments]
submitted by /u/asso [link] [comments]
submitted by /u/cointelegraph1 [link] [comments]
submitted by /u/ChooChooMcBoomBoom [link] [comments]
submitted by /u/Beyonderr [link] [comments]
submitted by /u/Infamous_Set6802 [link] [comments]
What are some use cases you can think of for smart contracts in the next 10 years? What applications can only be built with smart contracts or are make more sense on the blockchain? Or Bitcoin Maxi, No Smart Contracts all the way? Also the fact that once deployed fixes are not possible is another big nono from my web dev point over view where I am shipping fixes regularly. What about that as well? PS: I am learning about Rust and Solana right now and get the feeling that smart contracts are terrible in most cases and my motivation is tanking. I need to see some value in this whole thing... submitted by /u/haasilein [link] [comments]
I published a piece on the relevance of decentralization and would love anyone to challenge my thinking. I'm doing some thinking and hoping to spark some conversations beyond the short term narratives and hype. In general, I think my thesis is that decentralization is something that is very hard to regain once lost. We obviously see this in political systems. I think, in 20 years, it will be much more relevant which chain maintained censorship-resistance and decentralization than which scaled the fastest. I think the first misses the whole point of decentralized technologies and tries to apply a product mindset, which I'm not sure is so applicable. "Scaling feels to be more of a technical issue which feels solvable with time while decentralization is more of a philosophical issue which tends not to be “solved” but protected." Obviously, there's a lot more to discuss – such as "what is decentralization?" I explore some of these points in the article, but will need to publish additional pieces to really get at it. Would love your thoughts! https://open.substack.com/pub/theblockprint/p/crypto-decentralization-cannot-be?r=1b8e3&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true submitted by /u/Theonlyeasyday [link] [comments]
View Poll submitted by /u/Technical_Visual_272 [link] [comments]
submitted by /u/GabeSter [link] [comments]
submitted by /u/rizzobitcoin [link] [comments]
submitted by /u/4teey [link] [comments]
submitted by /u/kirtash93 [link] [comments]
submitted by /u/xnixxer [link] [comments]
submitted by /u/kirtash93 [link] [comments]
submitted by /u/Top_Cantaloupe_5724 [link] [comments]
submitted by /u/fap_fap_fap_fapper [link] [comments]
submitted by /u/wapatooscrain46 [link] [comments]
Welcome to the Daily Crypto Discussion thread. 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. Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance. Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily Crypto Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/CryptoDaily- [link] [comments]
submitted by /u/mnpkfernando [link] [comments]
submitted by /u/0xJonnyDee [link] [comments]
submitted by /u/This_Red_Apple [link] [comments]
Governance tokens like Uniswap and Arbitrum tokens are the biggest scams in the crypto industry, and imo it's ridiculous how nobody talks enough about this. Most of these projects have their own "foundations" (e.g., Uniswap foundation) where they do not need to answer to the governance token hodlers, and the founders are always the leaders of these foundations. The big VCs who funded these foundations often have equities/stake in the foundations and get the governance tokens for free (e.g., a16z has equity in Uniswap foundation, but average UNI hodlers do not). The prime example of how useless the governance token is actually Arbitrum, where arbitrum foundation intentionally ignored the majority of the token hodlers' votes simply because they disagreed with them. So, while the SEC argue about Ethereum being security or not, they should have just sued all these foundations who issued worthless governance tokens. submitted by /u/fabzo100 [link] [comments]
submitted by /u/Ok-BuddyPanduHere [link] [comments]
Hey everyone, After almost 7 years of operation, due to a combination of internal and external factors, we have made the difficult decision to close our platform. We're extremely thankful for the love and support we've received over the years. We couldn't have done it without you. We love you all ♥ LocalMonero has been around for most of Monero's life. Fortunately, the Monero ecosystem has matured a lot over these years, and with the imminent launch of Haveno and other DEXs like Serai, atomic swaps, the coming addition of FCMP (full blockchain anonymity set replacing rings of 16) as well as the continuing and rapidly accelerating development of the Monero protocol, we're confident that Monero's future is bright, with or without our platform. The winding-down process begins today, and finishes 6 months from now. Our support staff will be available for help throughout this period. 1. Effective immediately, all new signups and ad postings are disabled; 2. One week from now, on May 14th, 2024, new trades will be disabled as well; 3. 6 months from now, on November 7th, 2024, the website will be taken down. Please reclaim any funds from your arbitration bond wallet prior to that date, otherwise the funds may be considered abandoned/forfeited. Can I still register / post an ad? No, registrations and ad postings are disabled, effective immediately. Can I still trade if I have an account? You will be able to trade until May 14th, after which new trades will be disabled. How long do I have to access my account and recover any funds? Until November 7th, 2024. After that, the funds may be considered abandoned/forfeited. I have trades/disputes open, what do I do? All trades have to be finalized or cancelled prior to 2024-11-07. We will continue to arbitrate and mediate any remaining disputes up to that date. Can I delete my user data? Yes, on the website, just login and open your account settings, in the "Personal" tab you'll see the "DELETE ACCOUNT" button at the bottom. This function isn't implemented in the mobile app, so you'll need to use a mobile browser to login and delete your account from a mobile device. I have another question that's not covered here, how do I get assistance? Our support will be available up until the closure on 2024-11-07. If you need any sort of help, please feel free to reach us through our usual support channels. Is there any way I can express my gratitude for the service / donate? We won't be taking any donations. Consider donating to a CCS initiative instead. However, if our platform served you well throughout the years, we would be grateful if you left a review on TrustPilot (leave a review for LocalMonero / leave a review for AgoraDesk). Your positive reviews will be cherished by our team ♥ That's it for this announcement. It's been a pleasure and a privilege helping the community. With our eternal love, The LocalMonero / AgoraDesk Team submitted by /u/Alex_LocalMonero [link] [comments]
submitted by /u/kirtash93 [link] [comments]
Hey, ! As you all might have guessed, Moby is named after the fictional whale character "Moby Dick". I personally rooted for the latter, but we didn’t want to give off the wrong impression. In short, Moby is the Options Protocol you should use as a stepping stone to fuel the beginning of your On-chain Options trading. On May 8th, Moby will be hosting an AMA. During the AMA, we’d like to share more about our product and our next goal in the On-chain Options market and the DeFi ecosystem. About Moby: Moby is an On-chain Options Protocol driving the next DeFi narrative (Learn more from here) Became the largest options protocol with the most daily volume in 10 days since launch, generated ~$600M volume up to date (Moby is 1 month old btw). Received a grant from Arbitrum Foundation prior to mainnet launch. Participants from Moby: Moby Chad: Designed Moby's core mechanism, including SLE (Synchronized-Liquidity-Engine), based on many years of TradFi options trading experience in top-tier IB. Moby Dick: Based on his career at the global consulting firm, Dick leads Moby in business expansion in the Web3 Jungle. Moby Intern (Maybe intern...): Responsible for Moby's marketing and research materials based on crypto options trading experiences at CEXs and DeFi protocols. Details: Date: May 8th, 1-3pm UTC Giveaway: Total $3,000 (3,000 USDC) We will give away 3,000 USDC in total to the best 10 questions asked in this AMA! The winner will be decided based on various criteria, including the virals and how many questions are relevant to this AMA. If you are a newbie to both Options Trading and the DeFi Market, that's no problem — this AMA will be the perfect onboarding opportunity for those traders! From Stryke's previous AMA, we saw tons of meaningful questions and deep interest in the On-chain Options product. We’re looking forward to answering your questions! We thank everyone who participated in the AMA. We will be reaching out to the 10 people who won to giveaway! Are you satisfied with our answers? Or still need more info about Moby? Then it's time to check out our docs and start Options Trading on Moby! Moby Docs Official Website submitted by /u/Trade_on_Moby [link] [comments]
submitted by /u/MaGNeTiK-MaNTRa [link] [comments]
submitted by /u/Mattie_Kadlec [link] [comments]
Better get your big trades in before the end of 2024. The IRS will be automatically receiving your trades directly from exchanges like Coinbase/Kraken/Binance etc, starting 2025 (i e. the April 2026 tax deadline) just like how regular stock brokers report your trades to the IRS. Note that currently, US exchanges only report crypto staking/dividend/interest income of its users to the IRS, and not the capital gains you generate via trades (relying instead solely on self-reporting). That all changes in 2025. submitted by /u/Shibenaut [link] [comments]
Hey, ever noticed how BTC at $63k can feel totally different from one week to the next? Now you might wonder why. Sure, market sentiment is a big factor, but there’s more to it. Think about this: When BTC was at $16k in 2017, everyone was euphoric. Fast-forward to 2022, and BTC hits $16k again, and suddenly, everyone's in despair. Even though the price was the same, the onchain metrics painted a vastly different picture. In 2017 they were overheated and in 2022 they were oversold. The biggest mistake most investors make is that they never look at onchain metrics. That’s why I will share my top 3 on-chain metrics with you so that you can identify the best time to sell near the peak. The three metrics can help you time the market without needing to look at the price of BTC are: MVRV NUPL Puell Multiple Let’s start with MVRV 1️⃣ MVRV (Market value realized value) This metric measures whether Bitcoin is overvalued compared to its historical average. If MVRV exceeds 2, it indicates that the current price is much higher than what most holders paid, suggesting that we are moving towards the peak. However, keep in mind the MVRV has exceeded 4.0 in 2021 which shows it can go much higher than expected. You can look at the current BTC MVRV value [here](#). 2️⃣ NUPL (Net unrealized profits and loss) NUPL identifies the overall market sentiment by showing the proportion of Bitcoin holdings in profit or loss. A NUPL value in the "greed" zone (above 0.7) is very strongly correlated with market tops. The higher it goes the stronger the sell signal. You can look at the current NUPL value [here](#). 3️⃣ Puell Multiple This onchain metric compares the daily earnings of Bitcoin miners against the average over the past year. View the Puell Multiple chart [here](#). Here’s how to use the Puell Multiple: Puell Multiple > 2.5 = You should sell up to 25%+ of your BTC/alts on upward moves. This will give you a lot of capital to buy back during capitulation events. Puell Multiple > 5 = You should be selling 75%+ of your BTC portfolio. Furthermore, you must set sell orders for your altcoins, as they often pump after BTC pumps. If you want a more in-depth read with charts and links then read this version here. submitted by /u/xtarsy [link] [comments]
submitted by /u/rizzobitcoin [link] [comments]
submitted by /u/Gamnamoo [link] [comments]
submitted by /u/m4r00o [link] [comments]
submitted by /u/Phantraxito [link] [comments]
submitted by /u/Dazzling_Can8341 [link] [comments]
submitted by /u/HearthenRealms [link] [comments]
submitted by /u/Atorcran [link] [comments]
submitted by /u/greenboyguy3 [link] [comments]
submitted by /u/Putrid-Accountant64 [link] [comments]
Does anybody have any recommendations on who to follow for news and updates in the crypto and NFT industry? If you could listen to someone as a guest speaker, who would you want most? submitted by /u/Alan-Foster [link] [comments]
submitted by /u/Ashaantti [link] [comments]
submitted by /u/ChainofLegendsLTD [link] [comments]
Share the NFT mints, collections, and events that you're excited about! submitted by /u/Ivo_ChainNET [link] [comments]
submitted by /u/Mystiquelab [link] [comments]
submitted by /u/Difficult_Guide_5982 [link] [comments]
submitted by /u/vk-3123 [link] [comments]
Share the NFT mints, collections, and events that you're excited about! submitted by /u/Ivo_ChainNET [link] [comments]
Offering employees, coworkers, teammates, and students constructive feedback is a vital part of growth on…
Millennials should avoid delaying the inevitable and look into various retirement investment pathways. Here’s why…
For most people, a satisfactory career is essential for leading a happy life. However, ensuring…
The pipeline industry is more than pipework and construction, and we explore those details in…
SQL Interview Questions and Answers In the world of data-driven decision-making, SQL (Structured Query Language)…