How crypto could change the world and Why Cryptocurrency was invented in the first place.
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.
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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.
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.
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.
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
Network effect and staying power BTC is the first virtual currency to solve the double-spending issue. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
Bitcoin undoubtedly has a ‘brand’. It has perhaps the most substantial name recognition of any existing crypto asset and is basically synonymous with ‘cryptocurrency’ to the lay public.
Despite near constant proclamations of its demise, Bitcoin has not died. One could argue that – as the progenitor of cryptocurrencies – its longevity and continued profitability is itself an investment thesis.
As the number of public addresses, daily active users (DAU), and large holders/long term holders continue to trend upwards, it becomes harder and harder to ‘put the genie back in the bottle’:
Bitcoin’s valuation is well described by the most fundamental factor intrinsic to its network: the number of addresses that hold BTC. Applying Metcalfe’s law, the total value of Bitcoin’s network is well explained, with an R squared of 93.8%, simply by the square of its user base, n.
Store of value to hedge inflation
Over its lifetime, narratives of Bitcoin’s value have gone through several shifts, from the original cypherpunk vision in the white paper of p2p ‘e-cash’ to today’s ‘digital gold’ narrative.
One theme underlying both of these points, however, is a reaction to or distrust in the current financial system. This was true during the financial crisis of 2008 (see the genesis block message) and is still relevant today with unprecedented levels of monetary and fiscal stimulus being pursued by governments worldwide. Government deficits and central bank money printing may lead to inflation and thus drive investors towards assets like gold or Bitcoin to preserve their wealth.
This notion that BTC is a store of value to hedge inflation has certainly caught on in the last few years – not just from institutional or hedge fund investors, but from companies like MicroStrategy, Square and Tesla adding BTC to their balance sheets.
Like gold, BTC is scarce – only 21M will ever exist. It is estimated that 3M-3.7M BTC have been lost forever/will never enter circulating supply again.. One estimate is that 14.5M BTC are essentially illiquid.
To take one example, Grayscale’s BTC trust – which has no redemption process and thus effectively takes BTC out of circulation – alone holds over 600k BTC.
Like gold, BTC is also divisible, interchangeable and durable. Unlike gold, however, BTC is a digital asset and is thus easier to purchase, move and store.
If the store of value narrative endures, Bitcoin may have significant upside in supplanting a share of gold’s use case (estimated to be a $10T asset class).
Development
One of the common counterarguments for Bitcoin is that it is a ‘dinosaur’ with little technological improvement or development (as compared to its more innovative successors).
Segregated Witness (SegWit): a protocol upgrade proposal that went live in August 2017. This protocol upgrade effectively increased the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second (TPS)
Lightning Network: is a second-layer micropayment solution for scalability
While other blockchains boast enterprise development, some companies are indeed building on Bitcoin. For example, Microsoft recently launched a Decentralized Identifier (DID) network (ION) on the Bitcoin mainnet
Ideological foundation for a potentially new financial system, without the old, decrepit, and corrupt banks and middle men.
The Environmental Argument is almost pointless, as it is the most efficient way of transporting millions of dollars around the world in mere seconds. And I mean efficient in all ways, there us no other single asset in the world capable of transporting this amount of capital wealth with such a low environmental impact or financial cost. If not, try moving 4 millions dollars of gold. Also, as Btc increases in value, this gets more on more efficient.
Innovation of the technology and the first mover advantage in capturing this new market’s value/future value. Btc will always be at the top as mainstream adoption continues relating Crypto=Bitcoin.
Ability to be bankless, with proven liquidity (thanks to Tesla) and with the best performing asset creation-to-date.
Inability of third parties to do anything about your Btc holding without the seed phrase. Government’s can hardly tax it if, as Michael Saylor put it: “I had a boating accident and forgot my seedphrase, I don’t have acces to my crypto anymore so I can’t be taxed”. In a way, nobody but yourself can prove that you still have access to those funds, so, can they truly be taxable?
The S2F model and updated S2F XA model. So far they have been scarily precise. Otherwise, Metcalfe’s law assures anyone that bitcoin may never go to 0, as the network is already strong enough to provide a certain degree of value.
Bitcoin has been around way too long, and to the uneducated it is the face of the crypto world.
Bitcoin has no smart contracts.
Bitcoin is slow.
Bitcoin fees are expensive.
People see it as an investment, not a currency they can use and spend. In the end this is not defined as it’s supposed to be used, but only as store of value. It’s at the state of gold, not of a coin.
Bitcoin has become outdated, the only thing it’s useful for is investing, day to day transactions are useless.
Bitcoin’s largest advantage and in fact it’s greatest disadvantage is that it’s the oldest cryptocurrency. Since then technology has evolved so much to become more energy and time efficient.
Bitcoin is like the grandpa of crypto and we should look at it as such. Admire it for its wisdom because it has taught us so much, but also acknowledge that each of its children are trying to make their own marks on the world.
It’s huge environmental impact due to its proof-of-work concept. BTC has a carbon footprint like Singapore, uses as much electrical energy as the Netherlands, and produces as much electronic waste as Luxembourg. This is a huge problem and needs to be accepted more widely.
It’s slow. with an average transaction time of like 10 minutes, we are pretty far from instant transactions – this might not be a problem in all cases, but is one when one would like to use it like a currency, as it was planned originally
High transaction costs – not ETH-high, but too high
Bitcoin takes a lot of energy to mine and use. As of May 2021, a single Bitcoin transaction takes as much energy as 760,201 VISA credit card payments (source). To keep this in context, the world banking system uses about two times as much energy as the Bitcoin network (source)
Bitcoin is difficult to mine. GPUs and CPUs don’t have enough computing power to compete with other miners, meaning so-called Application-Specific Integrated Chips (ASICs) are required. These are expensive – generally in the range of $1000 to $6000, depending on how new the model is (source). This restricts Bitcoin’s mining pool to people and groups who have enough wealth to invest in ASICs, which threatens the goal of keeping cryptocurrency decentralized.
Bitcoin transactions can take a long time to be confirmed. The average time for a transaction to confirmed once is 10 minutes (source), but for a payment to be absolutely final, it needs to be included in multiple blocks to ensure consensus in the mining pool. This takes even longer, sometimes up to one hour (source, for 6 confirmations).
Bitcoin transactions require expensive mining fees. At the moment, the average fee for a single transaction is $14.35, making Bitcoin unsuitable for day to day use (source).
Bitcoin lacks many features available in other coins, including smart contracts (programs run on and enforced by the blockchain, see here), anonymity (source), and CPU mining (allowing anyone with a CPU to mine, thus making the network more democratic and less susceptible to being taken over by large groups).
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
–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
Hi all, I have a moderate amount of the top-rated coins. Love to see them popping recently, but realistically, how long will it take for a coin to increase in value for me to cash out and buy that Malibu mansion? For the rules team: The domain name bitcoin.org was registered on 18 August 2008.[14] On 31 October 2008, a link to a white paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list.[15] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.[7] Nakamoto's identity remains unknown.[6] All individual components of bitcoin originated in earlier academic literature.[11] Nakamoto's innovation was their complex interplay resulting in the first decentralized, Sybil resistant, Byzantine fault tolerant digital cash system, that would eventually be referred to as the first blockchain.[11][16] Nakamoto's paper was not peer reviewed and was initially ignored by academics, who argued that it could not work, based on theoretical models, even though it was working in practice.[11] On 3 January 2009, the bitcoin network was created when Nakamoto mined the starting block of the chain, known as the genesis block.[17] Embedded in this block was the text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", which is the date and headline of an issue of The Times newspaper.[7] Nine days later, Hal Finney received the first bitcoin transaction: ten bitcoins from Nakamoto.[18] Wei Dai and Nick Szabo were also early supporters.[17] In 2010, the first known commercial transaction using bitcoin occurred when programmer Laszlo Hanyecz bought two Papa John's pizzas for ₿10,000.[19] submitted by /u/rhinoballz88 [link] [comments]
Just look at Tldr at bottom Undervalued Gems with Strong Narratives: Seeking the Next Big Thing Hey Reddit fam, The crypto market's a wild ride, and with recent dips, I'm looking to strategically invest in projects with solid narratives that haven't quite mooned yet. I'm open to both established players that might be undervalued and up-and-coming projects with serious potential. Before I dive in, I'd love to hear your thoughts! What cryptos are catching your eye right now? What exciting narratives are you following, and which projects seem poised for significant growth? Here are some areas that pique my interest: The Rise of AI in Crypto: AI integration is everywhere, and crypto is no exception. Projects that bridge the gap between AI and blockchain, like Fetch.ai (FET) or Ocean Protocol (OCEAN), could be huge as AI adoption explodes. Are there any hidden gems in this space you think deserve more attention? The Metaverse Takes Shape: The metaverse is a hot topic, and projects like Decentraland (MANA) and The Sandbox (SAND) have seen impressive growth. However, is there room for more players? Are there any metaverse projects with innovative ideas and strong communities that haven't reached their full potential yet? Real-World Asset Tokenization (RWAs): Bringing real-world assets like gold or real estate onto the blockchain could revolutionize finance. Projects like Paxos Gold (PAXG) are already making waves, but are there any other RWAs with disruptive potential that haven't gotten their due? Sustainable Blockchain Solutions: Sustainability is a major concern, and blockchains with eco-friendly solutions are gaining traction. Cardano (ADA) is a prime example, but are there any other green cryptos with innovative approaches to scalability and security that deserve a closer look? These are just a few ideas to get the conversation started. I'm open to anything with a compelling narrative and a strong development team. So, Reddit, hit me with your best shot! Here's what I'm looking for when considering a project: A clear and well-defined problem that the project solves. A strong and active development team with a proven track record. A passionate and engaged community behind the project. A unique selling proposition (USP) that sets it apart from the competition. A roadmap with clear milestones and achievable goals. Of course, with any investment, especially in crypto, there's always risk. But by focusing on projects with strong narratives and solid fundamentals, we can increase our chances of finding the next big thing. So, if you've got a hidden gem you're excited about, a project you think is undervalued, or a narrative you believe in, share your thoughts in the comments below! Let's help each other uncover the next crypto success stories. Thanks, and happy hunting! Tldr: crypto to buy and why!!!!! submitted by /u/warrenbuffet2408 [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]
ARK | 21Shares AMA Cathie Wood of Ark Invest & 21Shares' co-founders Ophelia Snyder & Hany Rashwan are here to answer your questions for 1hr about: • Bitcoin ETFs • Benefits of ETFs • Current Crypto Landscape • Outlook for 2024 About ARK Based in St. Petersburg, Florida, ARK Investment Management LLC ("ARK" or "ARK Invest") is a federally registered investment adviser and privately held investment firm. Specializing in thematic investing in disruptive innovation, the firm is rooted in over 40 years ofexperience in identifying and investing in innovations that should change the way the world works. Through its open research process, ARK identifies companies that it believes are leading and benefiting from cross-sector innovations such as robotics, energy storage, DNA sequencing, artificial intelligence, and blockchain technology. ARK's investment strategies include: Autonomous Technologyand Robotics, Next Generation Internet, Genomic Revolution, Fintech Innovation, 3D Printing, Israel Innovative Technology, Transparency, and the overall ARK Disruptive Innovation Strategy. For more information about ARK, its offerings, and original research, please visit www.ark-invest.com About 21Shares With headquarters in New York City and Zurich, 21Shares US LLC serves as the sponsor to the ARK 21Shares Bitcoin ETF. 21Shares US LLC is an affiliate of 21Shares AG, one of the world’s leaders in providing access to crypto through TradFi and DeFi. 21Shares AG issues cryptocurrency-backed exchange traded products (ETPs) outside the United States in a number of global markets. 21Shares AG’s ETPs are built on its proprietary operating system, Onyx, which is also available to third parties. For more information, please visit www.21Shares.com/en-US submitted by /u/21shares_us [link] [comments]
Seen in every cycle, 99.99% of the cryptocurrencies will fail. The reasons are simple and yet not obvious to many people: - most of them are VC pump and dumps: in order to cash out, VCs need to pump the coin price to increase the liquidity, they bought in cheap and dump on retail like us - now too many coins are about AI but literally have nothing to do with AI at all - utility coins aren't really utility, in order to use their services, they don't charge you with US Dollar, but do need to pay them in their token. Nothing else. - crypto with fancy name but nothing behind it - xyz L2 coin...if the L2 works, why need a coin for it?! It doesn't need a coin to function, it's just to raise money, let retail buy and dump on them - let the CEOs or devs tweet useless posts like "Nike!" to pump projects - "fake" partnerships like for example: "We're partnering with Amazon"...in translated terms it just means "We're using AWS." "We're partnering with Microsoft" = "We were using Windows PCs to create this coin" 99.99% of the whole cryptocurrency is just a big joke, just a meme. You can literally just invest in memecoins and outperform "real" cryptocurrencies. There are just a bunch of cryptos which moves the space forward and are groundbreaking, but the most difficult is to pick this winning 0.01% crypto. Good luck. Outro: I am not saying that you cannot make profit in crypto. You actually can make a lot of money, but all I am saying (in a little bit overexaggerating way) is that you invest in memes because most of cryptos are literally memes without real value. submitted by /u/TinaBack43 [link] [comments]
Just got this email: Dear Users and Supporters of KuCoin, I would like to express my gratitude to all KuCoin users, for your support, trust and companionship during the past few days, as well as the past 7 years. We will absolutely ensure the security of user assets as always and comply with regulations to fulfill our trust. As everyone knows, KuCoin's journey has not been smooth sailing. Over seven years, we have faced numerous challenges, much like the tumultuous development of the entire crypto industry. Each time, as we weathered these ups and downs, doubts and concerns arose. However, staying true to our core beliefs and holding onto a positive vision for the industry, we have become stronger with each challenge overcome, earning the trust of more users and industry partners along the way. From the beginning, KuCoin's mission has been to grow alongside the crypto industry and to drive global recognition, acceptance, and love for this sector. Our commitment to user value has always been our guiding principle. In the early days of October 2017, at the very early stage of KuCoin, we made the unprecedented decision in the industry to proactively acquire and compensate users in large amounts due to the abnormal delisting of the CFD project. This act of proactive compensation marked the origin of the title of "People's Exchange" - a testament to the community's original affirmation of us. We have always treasured this rare trust, and being "People's Exchange" is our proudest label. Recently, on March 26th and 27th, some users experienced longer-than-expected wait times during the withdrawal process. As "People's Exchange," we feel a deep sense of responsibility for this inconvenience and would like to sincerely apologize. To express our profound gratitude for your support and patience, KuCoin will launch a special airdrop event totaling 10 million USD in KCS and BTC. We hope that through this initiative, we can express our gratitude for the support of our loyal users. Thank you for your understanding and support. KuCoin will continue to strive for higher quality and safer services, growing together with you. The rules will be announced officially within 3 days,and please be aware of any form of scams. Heartfelt thanks, and we wish you a pleasant experience with KuCoin! We also invite you to join us in witnessing the gradual flourishing of the entire crypto industry, all the way to changing the world! Sincerely, Johnny Lyu, CEO of KuCoin Now, if offering 10 million USD equivalent of free money days after being investigated by the US for money launch isn't a sign, I don't know what is. Who in their right mind does that? submitted by /u/FeeeFiiFooFumm [link] [comments]
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I haven't seen many people talking about this interesting development. As far as I know only accredited investors have access to the BCHG fund. It's quite normal to see shares trading higher or lower than the spot market price, but the current x3.5 deviation is kind of extreme. Two things might be connected to this. Accredited investors are long BCHG while they hedge their position in the spot market being short. Basically managing their risk. But at the same time, this may very well be speculation that a BCH ETF might be approved even before ETH gets the allowance. It might be a way to keep the wider public in the "dark" and profit from insider knowledge. Tell me what you think is going on here? submitted by /u/gr8ful4 [link] [comments]
Buried deep in the comments of a post a user pointed something out which I hadn't realized, which I'm sure has cost me at least hundreds of dollars in fees over the years. For the uniformed, exchanges charge a maker fee - the person who creates an order on the books, and a taker fee - the person to accepts the order. The fees for these transactions are different for example 0-10k M 0.25% T 0.4% on Kraken. Now I assume a lot of you are like me and thought, I'll just make limit orders to save on fees WRONG. This does not guarantee you a maker fee. INSTEAD (on Kraken) you have to go into 'More Options' and check 'Post Only' (conveniently hidden out of sight). In Gemini it's 'Maker or Cancel'. Feel free to post the extra step on the other exchanges and enjoy getting that extra crypto in every trade! PS If you're new sure you're using the advanced trader/ pro interface on your exchange to save on additional fees! Makes a huge difference especially on Coinbase. submitted by /u/xPrimer13 [link] [comments]
Reddit is in general very left leaning and I thought more open but outside of any crypto subreddits it seems like everyone is fiercely anti crypto. In my opinion it seems like there’s no openness to it at all, as well as a lack of understanding. Maybe I’m missing something but the more I’ve learned about financial systems the more “bullish” I get for crypto as a whole. I’m quite surprised in particular by the posts relating to Warren and her very anti crypto stance. In the posts I’ve read (excluding crypto related subreddits) people seem quite supporting of her and anti crypto, which amazes me because I thought people would be more anti establishment and more pro people and self financial management especially with Reddit being left leaning. submitted by /u/SettingIntentions [link] [comments]
https://preview.redd.it/jcg0e48ntuqc1.png?width=2401&format=png&auto=webp&s=0acf896b1be65aa11919276c91f853590db4e4e7 Hey there, r/CryptoCurrency community! The Bitget Wallet team is excited to announce that we'll have the privilege of hosting an AMA here on March 29th, 12pm (UTC). We'll be delving deep into Bitget Wallet and its evolution through the years! We also have a massive ongoing airdrop campaign for our newly launched token, $BWB! Very exciting times indeed! Our lovely COO, u/alvinkan, will spill all the tea for this AMA 🍵 🪂 We'll also be hosting a $200 (20 x $10) Giveaway! Users that ask the most interesting and thoughtful questions will be selected as winners! Don't fade on this and ask your best questions! Winners will be announced after the AMA in the replies. Brief Introduction to Bitget Wallet Bitget Wallet is Asia's largest and a leading global Web3 wallet with over 20 million users worldwide. It offers a comprehensive range of features, including asset management, intelligent market data, swap trading, launchpad, inscribing, and DApp browsing. Currently, it supports more than 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. Bitget Wallet enhances liquidity by aggregating it across hundreds of top DEXs and cross-chain bridges, facilitating seamless trading on over 40 blockchains. $BWB Our official $BWB token airdrop campaign recently went live and will be running till the end of April! We have an impressive pool of 50 million $BWB tokens up for grabs. Leave your questions in the comments about $BWB, how you can earn it, and its utilities! Alvin will be happy to answer all your questions! By the way, new users can earn 50 BWB Points upon sign-up right now! Sign up with this exclusive code now: https://web3.bitget.com/bwb-airdrop?code=j5Q0XT You can also try your wallet addresses from MetaMask, Phantom, Trust Wallet, CoinbaseWallet and more to see if you might be eligible for some airdrops: https://web3.bitget.com/bwb-airdrop For more information, you can read our extensive thread about $BWB over here: https://x.com/BitgetWallet/status/1769667535258132534?s=20 Find out more about us: Feel free to visit our links to find out more about Bitget Wallet! We also run multiple campaigns on X, so drop a follow for quick updates and more rewards! Official Website: https://web3.bitget.com/en X: https://X.com/BitgetWallet Telegram: https://t.me/Bitget_Wallet Discord: https://discord.com/invite/bitget-wallet We're looking forward to answering your questions during the AMA! So ask us your best questions 🩵 See you guys on Friday! submitted by /u/BitgetWallet [link] [comments]
According to Foresight News, SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) experienced a short-term surge in their prices due to potential merger news. AGIX is currently priced at $1.32, with a 24-hour increase of 9.8%; FET is priced at $3.25, with a 24-hour increase of 14.1%; and OCEAN is priced at $1.55, with a 24-hour increase of 29%. Previously, Foresight News reported that insiders revealed that the three blockchain AI protocols, SingularityNET, Fetch.ai, and Ocean Protocol, are discussing the possibility of merging their tokens into a single ASI token. The fully diluted value of this token is estimated to be around $75 billion. submitted by /u/BumblebeeHuman5699 [link] [comments]
Today I Learned (TIL) You learn something new every day; what did you learn today? Submit interesting and specific facts about something that you just found out here.
submitted by /u/raisinghellwithtrees [link] [comments]
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