There are so many benefits to using a cryptocurrency, that it would seem foolish to neglect such an invention. For example, it allows you to send money anywhere in the world in an instant, with basically no fees involved. Everyone can be included in the financial system, it will change the way we interact with money, it can prevent fraud, and much more.
Wednesday, March 31, 2021
New indictment: Joel Greenberg used tax collector funds to buy himself cryptocurrency, Michael ...
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More Cubans explore cryptocurrencies | Facebook
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Cryptocurrencies Versus Forex: Which Is The Better Investment?
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Sologenic Launches DEX: One Step Closer to Allow Users to Trade Tokenized Stocks 24/7 ...
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A's sell suite at Coliseum for one bitcoin, a first for the MLB
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Understanding and Coping with Volatility in the Cryptomarket
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The main premise of the article is that cryptocurrencies are "speculation for sp... | Hacker News
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Cryptocurrency Trading Risks In Vietnam
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Will Traders of Bitcoin And Other Cryptocurrencies Get Hit With Tax Bills Far Larger Than Their ...
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More Cubans exploring cryptocurrencies
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Bitcoin logs over 800% jump for FY21, Ethereum zooms 1300%
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Cryptocurrencies Price Prediction: Ethereum, Zilliqa & Elrond – American Wrap 31 March
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Prometheum and Anchorage set to launch alternative cryptocurrency trading system
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4 Ways to Ease Into Cryptocurrency
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Binance is blocking ADA withdrawals towards the end of each 5-day 'epoch' (staking reward cycle)
I haven't experienced this myself, but people are talking about having ADA withdrawals blocked towards the end of the epoch. Binance is motivated to do this because a 'snapshot' of staking wallet balances is taken at the end of the epoch, and staking rewards are calculated based on that. This is highly unethical however , because it means Binance is staking other people's ADA, collecting those staking rewards, and making the ADA unavailable to the owners when it suits them. Supposedly the hold on withdrawals can be as long as a full day before the end of the epoch, but typically happens at least an hour before the end of the epoch.
I think this shows a very blatant disrespect for their users' crypto which they're supposedly holding in custody (I know, NYK NYC), and the greater crypto community should be aware of this
Submitted March 31, 2021 at 04:43PM by AintNothinbutaGFring https://ift.tt/39xl2k3 https://ift.tt/2Z7cX2s
Daily Discussion - April 1, 2021 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.
Disclaimer:
Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, 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:
Submitted March 31, 2021 at 07:00PM by AutoModerator https://ift.tt/3wg0CpB https://ift.tt/2Z7cX2s
BlackRock, one of the world's largest asset management companies, has announced an investment in Bitcoin (BTC)!
Submitted March 31, 2021 at 06:28PM by LibrarianWide703 https://ift.tt/3wgT5XC https://ift.tt/2Z7cX2s
BNY Mellon Report Compares Bitcoin and Gold, Study Says ‘Gold Is the Only Globally Accepted Currency’
The popular safe-haven asset gold recently posted the lowest settlement in three weeks, as a firm dollar and bond market yields have weakened support for the precious metal. The financial goliath BNY Mellon also published a report about the differences between gold and bitcoin and the study said that the crypto asset “fits the description of a nascent currency.”
A Firm Dollar and Treasury Yields Takes Some Steam Out of Gold’s Market Performance
The U.S. dollar has gained some strength in the last two weeks, and crypto-assets like bitcoin (BTC) have increased in value as well. However, the precious metal (PM) gold has seen better days, as gold prices have retreated during the last few weeks. The price of gold dropped under the $1,700 per ounce range last week but today, the PM has managed to climb back above the psychological price zone. At the time of publication, an ounce of .999 fine gold is trading for $1,716.30 after jumping 1.7% in the last 24 hours.
Gold bugs and economists have been discussing Joe Biden’s proposed $3 trillion stimulus package, and it could kickstart gold, silver, and other types of assets that are considered a hedge against inflation. Kitco Metals’ Jim Wyckoff said the dollar’s recent rise and the crazy Treasury yields “are limiting buying interest.”
“The gold and silver market bulls need a fundamental spark,” Kitco Metals senior analyst stressed. Wyckoff also noted that the top two PMs, gold and silver, saw “technically-related selling pressure from the shorter-term futures traders amid still-bearish near-term charts.” Meanwhile as gold has been in a slump, cryptocurrency markets have seen some fresh fervor after prices dropped from highs settled on March 13, 2021.
BNY Mellon Report Compares Bitcoin and Gold
Moreover, the financial institution BNY Mellon has also published a comprehensive study on the attributes of the crypto asset bitcoin (BTC) and the PM gold. BNY Mellon’s report zeroes in on the controversial stock-to-flow ratio (S2F) and the creator Plan B’s alternative model called the stock-to-flow cross-asset model (S2FX).
“The implication from this model is that as bitcoin gains more mainstream momentum and is viewed more like gold,” the BNY Mellon report says. “The scarcity value (as measured by S2F) and the subsequent halving will ultimately drive prices to the gold dot cluster and implied total market value.”
The researchers at BNY Mellon are not buying the digital gold theory and highlighted that BTC “fits the description of a nascent currency.” Although the financial institution’s report does say bitcoin can gold have “similarities” and that BTC could look up to the popular PM.
“Bitcoin is also frequently compared to gold,” BNY Mellon’s study notes. “Indeed, there are many similarities and gold is a worthy role model for bitcoin. After all, gold has been accepted as a store of value and medium of exchange for centuries (nowadays, mostly as a store of value, almost none is used as a medium of exchange). We believe gold is also the only globally accepted ‘currency’ that has circumvented the issue of sanctioning entities.”
However, in mid-February 2021, BNY Mellon set up a digital currency unit that plans to “hold, transfer, and issue” bitcoin.
What do you think about gold’s recent performance and BNY Mellon’s bitcoin and gold comparisons? Let us know what you think about this subject in the comments section below.
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Cryptocurrency and the Psychology of Uncertainty
Ok so before I entered into Crypto I played poker at a fairly high level. Poker, like crypto is easy to the untrained eye and every man and their dog thinks they are one hop away from winning the World Series or in our case being the DeepFuckingValue of the crypto space. To outsiders it seems really simple, get good cards/well known coins and rake in the profits.
Are we gamblers? You and I, we hold different coins and we hold different perspectives on value and on life. We get judged by others outside the cryptosphere for taking outlandish risk, where they respect the stockbroker in his pinstripe suit for doing a very similar thing with similar information.
But crypto like in poker you can win with the worst hand (Uniswap kitchenbakeswap2.0 coin) or lose with the best hand (BTC) - and that comes down to judgment, timing and experience. Skills that a day 1 player/trader would not have in their repertoire. So I argue that due to this, crypto is a skilled endeavour rather than a gambling one.
I believe that not everyone is cut out for crypto and the swings it can bring. Not everyone can handle seeing $20k disappear while they sleep. Not everyone can handle not selling fully when their investment goes up 15%. You need to be a fighter, hungry for profit whilst balancing risk with a sense of calm and applying logic at all times. Luckily when I wake up to see my Portfolio has dropped by 24% overnight I can swear and release my emotions which was not possible when bluffing or going all in at a poker table and keeping my poker face for hours upon end.
Something I have found in my life is that betting on uncertainty is not only enjoyable but it’s also the best way of understanding it. Sitting on the sidelines doesn’t provide the same level of engagement or learning. Understanding uncertainty allows you to see with clarity the pitfalls of the human brain, the emotions involved and where we can trip up. Let me explain.
When something is 99% sure of happening - in our minds it’s seen more often than not of being 100%. It is a misplaced faith in certainty - this is at the crux of crypto investing. How sure are you that you hold the best coins? How sure are you that they will go up in value? When you’ve watched a coin rise consistently over the last 99 days and 25 of your friends have invested and keep telling you how much they are making - well it’s easy to fall into the trap of assuming you will follow in their footsteps and the trend will continue.
To be consistently achieving well in this game you need to be paying attention. Crypto forces you to question your thought process, forces you to often recalibrate and rethink your strategy. If you follow emotions rather than logic through research then long term you are probably going to be losing a lot of profit or potentially turning a loss. Sure you might hit the odd moonshot or two but that’s not sustainable. Then there is the battle between betting with your hard earned $ on your own opinions and judging someone else for theirs. One of the most refreshing aspects of trading is that you aren’t going to get kicked out the market for choosing an investment strategy that goes counter to the masses or the Bitboy crypto style YouTube professors of wisdom. The only thing that talks is the profit.
One final point I wish to make is that while I played poker it was a very strange dynamic at the table. You sat down and you went to war. You could chat and be friendly but ultimately you weren’t there to make friends, you were there to accumulate as many chips off the other people at the table as possible. You would say things like “Good luck” or “Nice Hand” which were veiled ways of saying “I wish myself all the luck and I want your chips” and “Why would you play those cards in that way?! That was stupid you maniac”.. the funny thing is with crypto is that there are winners and losers but it’s on such a distanced inconceivable level. You only hear of people losing and winning in crypto, you aren’t sat 5 feet from them. So I feel and this is genuine, that I wish everyone success. I know that is not possible, but I absolutely do wish that (unless you are a terrible person 😅). So when I see gain porn I don’t get jealous, salty or angry. I feel happy for that person. That wasn’t the case when I lost a $500 pot in poker to the guy sat opposite me 😂
Let me know if you found this insightful or interesting. Would love to hear how you react to seeing others on Reddit posting of their gains and losses, the humble brags and the not so humble brags.
Good luck in the crypto markets guys and we can all prosper and get some nice big gains in 2021. 🤑🚀
Submitted March 31, 2021 at 02:43PM by DigitalGoldDude https://ift.tt/3sJ3VDx https://ift.tt/2Z7cX2s
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Snoop Dogg Announces the Release of His First NFT Collection: “A Journey with the Dogg”
Submitted March 31, 2021 at 03:41PM by jackvilles https://ift.tt/3do6GUj https://ift.tt/2Z7cX2s
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Cryptocurrency and the Psychology of Uncertainty
Ok so before I entered into Crypto I played poker at a fairly high level. Poker, like crypto is easy to the untrained eye and every man and their dog thinks they are one hop away from winning the World Series or in our case being the DeepFuckingValue of the crypto space. To outsiders it seems really simple, get good cards/well known coins and rake in the profits.
Are we gamblers? You and I, we hold different coins and we hold different perspectives on value and on life. We get judged by others outside the cryptosphere for taking outlandish risk, where they respect the stockbroker in his pinstripe suit for doing a very similar thing with similar information.
But crypto like in poker you can win with the worst hand (Uniswap kitchenbakeswap2.0 coin) or lose with the best hand (BTC) - and that comes down to judgment, timing and experience. Skills that a day 1 player/trader would not have in their repertoire. So I argue that due to this, crypto is a skilled endeavour rather than a gambling one.
I believe that not everyone is cut out for crypto and the swings it can bring. Not everyone can handle seeing $20k disappear while they sleep. Not everyone can handle not selling fully when their investment goes up 15%. You need to be a fighter, hungry for profit whilst balancing risk with a sense of calm and applying logic at all times. Luckily when I wake up to see my Portfolio has dropped by 24% overnight I can swear and release my emotions which was not possible when bluffing or going all in at a poker table and keeping my poker face for hours upon end.
Something I have found in my life is that betting on uncertainty is not only enjoyable but it’s also the best way of understanding it. Sitting on the sidelines doesn’t provide the same level of engagement or learning. Understanding uncertainty allows you to see with clarity the pitfalls of the human brain, the emotions involved and where we can trip up. Let me explain.
When something is 99% sure of happening - in our minds it’s seen more often than not of being 100%. It is a misplaced faith in certainty - this is at the crux of crypto investing. How sure are you that you hold the best coins? How sure are you that they will go up in value? When you’ve watched a coin rise consistently over the last 99 days and 25 of your friends have invested and keep telling you how much they are making - well it’s easy to fall into the trap of assuming you will follow in their footsteps and the trend will continue.
To be consistently achieving well in this game you need to be paying attention. Crypto forces you to question your thought process, forces you to often recalibrate and rethink your strategy. If you follow emotions rather than logic through research then long term you are probably going to be losing a lot of profit or potentially turning a loss. Sure you might hit the odd moonshot or two but that’s not sustainable. Then there is the battle between betting with your hard earned $ on your own opinions and judging someone else for theirs. One of the most refreshing aspects of trading is that you aren’t going to get kicked out the market for choosing an investment strategy that goes counter to the masses or the Bitboy crypto style YouTube professors of wisdom. The only thing that talks is the profit.
One final point I wish to make is that while I played poker it was a very strange dynamic at the table. You sat down and you went to war. You could chat and be friendly but ultimately you weren’t there to make friends, you were there to accumulate as many chips off the other people at the table as possible. You would say things like “Good luck” or “Nice Hand” which were veiled ways of saying “I wish myself all the luck and I want your chips” and “Why would you play those cards in that way?! That was stupid you maniac”.. the funny thing is with crypto is that there are winners and losers but it’s on such a distanced inconceivable level. You only hear of people losing and winning in crypto, you aren’t sat 5 feet from them. So I feel and this is genuine, that I wish everyone success. I know that is not possible, but I absolutely do wish that (unless you are a terrible person 😅). So when I see gain porn I don’t get jealous, salty or angry. I feel happy for that person. That wasn’t the case when I lost a $500 pot in poker to the guy sat opposite me 😂
Let me know if you found this insightful or interesting. Would love to hear how you react to seeing others on Reddit posting of their gains and losses, the humble brags and the not so humble brags.
Good luck in the crypto markets guys and we can all prosper and get some nice big gains in 2021. 🤑🚀
Submitted March 31, 2021 at 02:43PM by DigitalGoldDude https://ift.tt/3sJ3VDx https://ift.tt/2Z7cX2s
Snoop Dogg Announces the Release of His First NFT Collection: “A Journey with the Dogg”
Submitted March 31, 2021 at 03:41PM by jackvilles https://ift.tt/3do6GUj https://ift.tt/2Z7cX2s
Tuesday, March 30, 2021
Cryptomining - statistics & facts | Statista
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Guy takes the orange pill
Submitted March 30, 2021 at 03:48PM by NinjaDK https://ift.tt/3sHxNQI https://ift.tt/2Z7cX2s
Canadian Company Mogo Offers Bitcoin Rewards for Clients Engaging in a New Mortgage or Refinancing
On Monday, the publicly-listed Canadian company Mogo announced the firm is extending the bitcoin rewards program applied to the firm’s prepaid Visa card to the operation’s Mogomortgage product. Mogo members leveraging the Mogomortgage platform can earn up to $3,100 in bitcoin if they engage in a new mortgage or refinance an existing real estate loan.
Mogo CEO Highlights the Beginning Stages of Consumers Adding Bitcoin to Their Financial Portfolios
During the last few years, the Vancouver-based Mogo Inc., (NASDAQ:MOGO) (TSX:MOGO) has gradually been gravitating toward cryptocurrency solutions. Back in 2018, Mogo revealed a partnership with DMG Blockchain Solutions and planned to launch a bitcoin mining facility in British Columbia. At the end of December 2020, Mogo executive Greg Feller explained that Mogo was joining the trend of firms holding BTC on their balance sheets. Mogo disclosed the company invested 1.5% of Mogo’s total assets into bitcoin at the end of the third quarter of 2020.
Now Mogo has announced a new bitcoin rewards program for Mogomortgage consumers. “Under the program,” Mogo said on Monday, “Mogo members who take out a new mortgage or refinance with Mogo can earn up to $3,100 cashback deposited in their Bitcoin and Rewards account.”
Mogo’s founder and CEO, David Feller, believes as far as bitcoin adoption is concerned we are still in the nascent stages. “Our bitcoin rewards program is all about giving our members more ways to accumulate bitcoin,” Feller said. “It’s clear that we’re still in the beginning stages of seeing consumers add bitcoin to their financial portfolios, just as we’re seeing corporations add it to their balance sheets.”
Mogo’s founder continued:
Given the volatility and speculative nature of bitcoin, there’s an increasing number of Canadians who are looking for ways to participate without risking their own money, and our bitcoin rewards program meets this demand. As an independent mortgage brokerage, our goal has always been to help members get the best rate and the right mortgage, and now our new bitcoin rewards program will reward them with up to $3,100 in bitcoin.
Offering Mortgage Customers a Unique Reward That Can Grow in Value
Over the last few years, bitcoin rewards for prepaid cards have been very popular, Mogo and Feller think that this program will also fit nicely into the mortgage space. “The residential mortgage market in Canada is a massive market estimated at about $1.7 trillion, and we’re pleased to provide Canadians with a great way to get a mortgage, while also earning bitcoin,” Feller emphasized.
The CEO further highlights that in contrast to traditional reward programs, rewards paid in bitcoin offer growth benefits. “Bitcoin rewards have the unique characteristic of being an asset class that can rise in value over time – $3,100 invested in bitcoin 5 years ago would be worth over $350,000 today,” Feller concluded.
What do you think about Mogo and Mogomortgage offering bitcoin rewards for new mortgages and refinancing? Let us know what you think about this subject in the comments section below.
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Daily Discussion - March 31, 2021 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.
Disclaimer:
Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, 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:
Submitted March 30, 2021 at 07:00PM by AutoModerator https://ift.tt/3sCEJyl https://ift.tt/2Z7cX2s
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Bitcoin taxation is broken. Here’s how to fix it: Make the Bitcoin capital gains tax exemption for transactions $10k and lower and people can use it to cover almost 100% of monthly expenses. This is the way.
Submitted March 30, 2021 at 04:59PM by the420chronicler https://ift.tt/3wfLB7l https://ift.tt/2Z7cX2s
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Bitcoin Will Make You Rich, Not Attending A University
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There's Absolutely A Case For Every Balance Sheet To Have Bitcoin On It, Square CFO Believes
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Market Wrap: Traders Ratchet Up Derivatives Bets as Bitcoin Mounts Rally
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Market Roundup: Bitcoin Tests $59000 as BNB Breaks $300
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Drivably can now pay with Bitcoin
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This Bot Buys BTC Every Time Elon Musk Tweets About Bitcoin
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Indians Want Bitcoin Despite Government Stance
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Bitcoin is outshining gold in the battle of the safe havens
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Concerns mount over cryptocurrency guidelines
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Britain To Look Harder At Stablecoins Than Other Cryptocurrency
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PayPal to let users pay with cryptocurrency
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How Cryptocurrency Could Inspire a New Kind of Financial Literacy
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Feds Again Target NH Cryptocurrency Firm With Libertarian Ties
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Tax regulators in UK publish fresh guidance for cryptocurrencies : CryptoMarkets
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Art's NFT Question: Next Frontier in Trading, or a New Form of Tulip?
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Daily Discussion - March 31, 2021 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.
Disclaimer:
Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, 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:
Submitted March 30, 2021 at 07:00PM by AutoModerator https://ift.tt/3sCEJyl https://ift.tt/2Z7cX2s
Bitcoin taxation is broken. Here’s how to fix it: Make the Bitcoin capital gains tax exemption for transactions $10k and lower and people can use it to cover almost 100% of monthly expenses. This is the way.
Submitted March 30, 2021 at 04:59PM by the420chronicler https://ift.tt/3wfLB7l https://ift.tt/2Z7cX2s
Monday, March 29, 2021
Microsoft launches Bitcoin-based identity network - ThePaypers
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I visited a Bitcoin mine in a Mongolian ghost city — it's the perfect blueprint for the future of crypto ...
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YouTuber Turns 1989 Game Boy Console into Bitcoin Miner | CoinMarketCap
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BNY Mellon Report Takes On Bitcoin Valuation - Blockworks
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214 - Million Dollar Bitcoin and the Future of Cryptocurrency with Mike Dillard - Early To Rise
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Iowa House approves bills to facilitate broadband, cryptocurrency
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NewsCrypto Unveils AI-Powered Tool For Predicting Future Crypto Price Movements
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We about to hit 2,000,000 users
We’re only 600 members away from hitting 2 million people on this subreddit. I have been a long time lurker here and I can’t believe how fast this community is growing. 🖐Welcome to those that are new and cheers to the old timers that have been accumulating crypto for years.
Submitted March 29, 2021 at 04:59PM by MACisBROKEN https://ift.tt/3sFErHm https://ift.tt/2Z7cX2s
Daily Discussion - March 30, 2021 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.
Disclaimer:
Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, 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:
Submitted March 29, 2021 at 07:00PM by AutoModerator https://ift.tt/3cAp6Ss https://ift.tt/2Z7cX2s
The Bitcoin Network now transfers $137,000 per second around the world without requiring a bank, government, or third party.
Submitted March 29, 2021 at 06:29PM by DocumentingBitcoin https://ift.tt/3m7kJS7 https://ift.tt/2Z7cX2s
South African Companies Convert Cash Holdings Into BTC— Crypto Asset Is Hedge Against Devaluation
New reports emerging from South Africa suggest privately held firms are converting a portion of their cash holdings into bitcoin as they seek to hedge against currency devaluation. According to one report, an open-source software specialist firm, LSD Open, could well be the first South African company to make the bold step after it reportedly acquired $134,000 worth of bitcoin.
Bitcoin Philosophy
As a local report explains, LSD Open completed the purchase in two separate transactions and an average price of just over $34,200 per BTC was paid. At the time of writing, the value of LSD Open’s BTC holdings had grown by almost 70% in just “a matter of weeks.” Meanwhile, the report also discloses that LSD Open’s BTC acquisition had been facilitated by Bitfund, a local cryptocurrency exchange.
LSD Open CEO Stefan Lesicnik is quoted explaining how bitcoin’s attributes are aligned with the philosophy of his company. Lesicnik said:
Our vision is to make the world more open, and bitcoin supports our philosophy on how we believe the world works best.
The CEO adds that working in the open-source space seems to “attract many crypto enthusiasts for whom the decentralised, open nature of cryptocurrencies appeals.” Meanwhile, Lesicnik also discloses that LSD Open is also involved in a “broad spectrum of the ecosystem, including running and maintaining bitcoin full nodes.”
More Companies Planning to Buy
In the meantime, the same report also quotes Dean Joffe, co-founder of Bitfund, revealing how his organization “has helped seven or eight South African firms to buy cryptocurrencies – mainly bitcoin and stablecoins like USDC.” Joffe also adds that his company is already “in discussions with two Johannesburg Stock Exchange-listed companies about doing the same for them.”
However, the report explains that these companies “have not yet pulled the trigger on any cryptocurrency purchases.”
What are your thoughts on the move by South African companies to buy and hold BTC? You can tell us what you think in the comments section below.
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BNY Mellon Releases Report On Future Bitcoin Valuations
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Nuvei Adds Payment Solution for Nearly 40 Cryptocurrencies
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Switch to Brave Browser for free cryptos!
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BNY Mellon Releases Report On Future Bitcoin Valuations
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Sunday, March 28, 2021
Elon Musk: 'You Can Now Buy Tesla with Bitcoin'
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BNY Mellon values Bitcoin on par with gold, what's their price target?
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How it started, and how it's going...
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After 500% Bitcoin Boom, Data Reveals Why April Could Be Even Bigger For The Bitcoin Price
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Ferrari's now being sold for Bitcoin.
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Ray Dalio: Bitcoin Could Face Same Fate As Gold In 1934
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Stakeholders seek clarity if exchanges too need to share crypto data
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10 essential cryptocurrency websites to keep up to date
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Charles from cardano was right. You need ripple to win or this lawsuit. The SEC is going to open up CoinMarketCap and start litigating down the list. Do not let tribalism get in the way of this.
By winning the suit against ripple and the execs (for anyone who’s been following the suit ripple are absolutely smashing it) there will be case precedence.
They will have the big fish and case law.
This means any ico or sale of crypto from the inventors of said crypto will be targeted. There’s one thing the SEC likes and that is money.
They can see an untapped wealth of fines and settlements here and they want to be the regulator who controls crypto in the USA. You might hate Xrp, but right now ripple and their lawyers are preventing the SEC from getting their hands on the crypto market.
Submitted March 28, 2021 at 06:10PM by Lemonmule69 https://ift.tt/3u0cCcS https://ift.tt/2Z7cX2s
Daily Discussion - March 29, 2021 (GMT+0)
Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.
Disclaimer:
Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, 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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Boomers Next to Adopt Crypto, a Trillion Dollars Could Flow Into Bitcoin Over the Next Year, Says Novogratz
Galaxy Digital CEO Mike Novogratz has predicted that as much as a trillion dollars could flow into bitcoin over the next year as wealthy baby boomers get into cryptocurrency. With the example of Morgan Stanley, he says that more banks will start offering bitcoin exposure to their customers.
$1 Trillion Could Flow Into Bitcoin
Michael Novogratz, a longtime bitcoin bull and founder of Galaxy Digital, talked about the future outlook for bitcoin last week in an interview at Reuters Digital Assets Week. He explained that as cryptocurrencies become more mainstream, wealthy baby boomers will be the next generation to get into cryptocurrencies, elaborating:
It could be as much as a trillion dollars comes over the next year from that giant group of wealth.
Following the announcement by Morgan Stanley to offer access to bitcoin funds to its wealthy clients, Novogratz predicted that other major banks and trading platforms will follow suit. This will likely spark the rush from wealthy baby boomers, he opined.
With the new offering, Morgan Stanley will become the first big U.S. bank to offer bitcoin investments to wealth management clients. Two of the three bitcoin funds that will be offered initially are by Galaxy Digital: the Galaxy Bitcoin Fund LP and the Galaxy Institutional Bitcoin Fund LP. Commenting on the move by the major investment bank, Novogratz said:
The money will start coming in early next month.
The Galaxy Digital executive is not the only one expecting a flood of investments from baby boomers. Recently, JMP Securities predicted that about $1.5 trillion could flow into bitcoin from wealthy clients of investment banks. The firm based its projection on a modest portfolio allocation, citing that “Around $30 trillion of assets in the U.S. retail wealth management industry currently do not have direct access to bitcoin.”
As for whether bitcoin is becoming mainstream, Visa CEO Al Kelly recently said that he anticipates the cryptocurrency becoming “extremely mainstream” and his firm is already working to allow bitcoin payments at 70 million stores. Other companies, such as Goldman Sachs, are also seeing huge institutional demand for BTC while Deutsche Bank says the cryptocurrency is too important to ignore.
Baby boomers are those born roughly from the end of the second world war to the mid-1960s. They have been the main beneficiaries of massive stimulus packages that have pumped up asset values since the 2008-9 global financial crisis. A number of them see bitcoin as an asset that can significantly increase in value as well as one that can protect their savings from inflation spurred by massive money printing.
Noting that bitcoin works best as a store of value rather than a currency or a means of payment, Novogratz opined:
If you’re worried that the U.S. is printing too many dollars … you’re going to shift some of your savings into bitcoin.
Do you agree with Mike Novogratz about bitcoin? Let us know in the comments section below.
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BNY Mellon values Bitcoin on par with gold, what's their price target?
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How it started, and how it's going...
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Elon Musk: 'You Can Now Buy Tesla with Bitcoin'
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BNY Mellon values Bitcoin on par with gold, what's their price target?
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How it started, and how it's going...
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Saturday, March 27, 2021
Bitcoin Could Hit $300000 But Here's What One Expert Says Will Happen When The Bubble Bursts ...
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Market Roundup: Bitcoin Rebuilding to $56000
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$400K Bitcoin predicted this year, NFT warning, Instagram influencer in trouble: Hodler's Digest ...
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Why former OCC head Brooks thinks Bitcoin is stronger than US dollar
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Bitcoin Whales Explode, Move Over $2000000000 in BTC in Just 24 Hours – Here's Where the ...
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Surpassing Bitcoin: Ethernity Chain (ERN) Is the Top Trending Coin in USA Last Week
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If You Invested $1000 In the GLD Gold ETF 1 Year Ago, Here's How Much You'd Have Now
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What Are NFT Stocks? Your Guide To Non-Fungible Tokens
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Coinmon, yang'anani mtengo wama cryptocurrencies kuchokera ku terminal | Ubunlog
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Filecoin Surges 25% Overnight While Bitcoin Stagnates
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Bitcoin Whales Explode, Move Over $2,000,000,000 in BTC in Just 24 Hours
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This Norwegian Billionaire Used to Hate Bitcoin. Now He's an Investor
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Bitcoin Could Hit $300000 But Here's What One Expert Says Will Happen When The Bubble Bursts ...
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Market Roundup: Bitcoin Rebuilding to $56000
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$400K Bitcoin predicted this year, NFT warning, Instagram influencer in trouble: Hodler's Digest ...
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Why former OCC head Brooks thinks Bitcoin is stronger than US dollar
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Bitcoin Whales Explode, Move Over $2000000000 in BTC in Just 24 Hours – Here's Where the ...
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Surpassing Bitcoin: Ethernity Chain (ERN) Is the Top Trending Coin in USA Last Week
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If You Invested $1000 In the GLD Gold ETF 1 Year Ago, Here's How Much You'd Have Now
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What Are NFT Stocks? Your Guide To Non-Fungible Tokens
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Bitcoin Whales Explode, Move Over $2,000,000,000 in BTC in Just 24 Hours
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Friday, March 26, 2021
Market Wrap: Bitcoin Steady Near $54K; RSI Indicator Warns of Limited Uptrend
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Why Bitcoin Is a Better Risk Bet Than a Stack of Penny Stocks
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What happens to Bitcoin when options expire each month (Data from 2018-2021).
I was at this thread the other day "This is what happens to Bitcoin when options expires each month," and was curious what it looked it since late 2017-2021. I was curious if there were any patterns in between the BTC Futures' Expiration dates. Bear with me on this (pun intended). This is my first time using a chart. I just needed a line to mark the BTC Futures Expiration Dates (BTCFED).
Jan 2018- Dec 2018
2018 BTC Future Expiration Dates & Chart (Trading View) [1]
The chart above showcases the BTCFED indicated by the blue lines. The schedule below is a schedule listing BTC's price 3-7 days before and after the BTCFED. I wanted to examine if there are any patterns of movements pivoting to each BTCFED numerically. The movements are highlighted with their 'Gain' or 'Loss.' Limitation on this findings is that I did not define the significance of the movements.
BTC Price: 3, 7 Days Before and After BTCFED (2018) [2]
The basic findings for the 2018 figures were:
- 7 Days Before BTCFED: 7/12 times: Loss
- 3 Days Before BTCFED: 7/12 times: Loss.
- 3 Days After BTCFED: 7/12 times: Gain.
- 7 Days After BTCFED: 7/12 times: Loss.
Jan 2019- Dec 2019
2019 BTC Future Expiration Dates & Chart (Trading View) [1]
The above showcases the 2019 BTC Chart, and the BTCFED markings. The schedule below shows the BTC pricing for 2019, and the 3-7 Days of before and after the BTCFED to examine the movement patterns.
BTC Price: 3, 7 Days Before and After BTCFED (2019) [2]
The basic findings for the 2019 figures were:
- 7 Days Before BTCFED: 6/12 times: Gain/Loss
- 3 Days Before BTCFED: 7/12 times: Loss.
- 3 Days After BTCFED: 6/12 times: Gain/Loss
- 7 Days After BTCFED: 6/12 times: Gain/Loss.
Jan 2020- Dec 2020
2020 BTC Future Expiration Dates & Chart (Trading View) [1]
The above is the chart for 2020. There are massive jumps if I compile 2020 and 2021 together. This allows us to see slightly better patterns. It may not be clear but because the jump went from USD 5,900+ to 28,000+ USD in a year. The schedule below is the BTC pricing for 2020;
BTC Price: 3, 7 Days Before and After BTCFED (2020) [2]
BTC Price: 3, 7 Days Before and After BTCFED (2021) [2]
The basic findings for the 2020 figures were:
- 7 Days Before BTCFED: 7/12 times: Gain.
- 3 Days Before BTCFED: 6/12 times: Gain/Loss.
- 3 Days After BTCFED: 8/12 times: Gain
- 7 Days After BTCFED: 11/1 times: Gain.
Jan 2021- Mar 2021
2020 BTC Future Expiration Dates & Chart (Trading View) [1]
I've included the 2021 chart YTD, and the future BTCFED. More information on it can be retrieved from Reference #1 (Barchart).
BTC Price: 3, 7 Days Before and After BTCFED (2021) [2]
Findings for 2021 Schedule feels a bit inconclusive right now, but-
- 7 Days Before BTCFED: 3/3 times: Loss.
- 3 Days Before BTCFED: 3/3 times: Loss.
- 3 Days After BTCFED: 1/2 times: Gain/Loss.
- 7 Days After BTCFED: 2/2 times: Gain.
Interpretation:
Well, I honestly don't know how to conclude this study- but if we compile the available data from all BTCFED, and BTC Prices 3-7 days before and after; this is what we get;
- 7 Days Before BTCFED: 20: Loss / 18 Gains
- 3 Days Before BTCFED: 22 Loss / 16 Gains
- 3 Days After BTCFED: 16 Loss / 22 Gains
- 7 Days After BTCFED: 14 Loss / 24 Gains
I leave the rest of the interpretation up to you guys. I was searching for 'Max Pain Point,' all I've got so far was on the March 2021 data, nothing from the previous years. Maybe someone with a bit more qualitative experience could carry forward on the same topic.
Disclaimer: I have no experience reading/plotting graphs/charts. Might probably learn it soon- but one thing for sure, I'm interested to learn more about crypto. & as I post this, it's 5AM here in Southeast Asia, but seeing a lot of 'RemindMe!' made me kind of eager to put this out and see where it goes. The data I've gathered were from 2 references, as below.
Reference:
[1] Barchart, Dates of BTC Futures Expiration Dates:
Source: https://www.barchart.com/futures/quotes/BTH21/historical-prices
[2] Coindesk, Bitcoin Price (Dec, 2017-Mar, 2021)
Source: https://www.coindesk.com/price/bitcoin
Submitted March 26, 2021 at 04:11PM by the_far_yard https://ift.tt/3fosqCl https://ift.tt/2Z7cX2s
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