Cryptocurrency News & Discussion

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The original was posted on /r/cryptocurrency by /u/reditpost1 on 2024-01-07 20:28:46+00:00.

I've been reading about how Ethereum hardforked 3 times so there are now 3 Etheriums. Also Etherium can not scale without help of multiple layer 2 chains helping out. Ethereum is also a 1st generation blockchain. It has alot of issues. I don't know why developers use it as much as they do. I would like to ask any users with experience using Ethe and Cardano which they prefer to developer projects on. I read Cardano is a third generation blockchain, has low gas fees, never went down, can scale without help from layer 2's and is doing things Ethereum will never be able to do. Am I making a fair comparison between the two projects. Any input would be helpful.

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The original was posted on /r/cryptocurrency by /u/flowers_at_dusk on 2024-01-08 07:06:51+00:00.

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The original was posted on /r/cryptocurrency by /u/xexotiqz123 on 2024-01-07 18:58:45+00:00.

whos actually doing that? we all know the etf is either gonna get approved or delayed this month. btc is at 44k. if you think a sell the news event is gonna happen, why arent you selling now?

because if you are predicting a "sell the news" event is gonna happen then 2 things could happen:

btc etf gets approved. Sell the news occurs. market goes down. or, the btc etf gets rejected/delayed. the market goes down.

So anyone still holding who thinks a sell the news event is gonna happen; why havent you sold off yet?

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The original was posted on /r/cryptocurrency by /u/Ilovekittens345 on 2024-01-07 12:13:32+00:00.

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The original was posted on /r/cryptocurrency by /u/tho69420 on 2024-01-08 06:56:54+00:00.

Hello everybody,

Yesterday I did a first time cash deposit on kraken, and now my bank account is blocked. Kraken uses plaid for the bank services and the transfer can take up to 3 days. It is not yet depossited on kraken but I have patience to wait 3 days ofc. The weird thing is why my bank account is blocked, it says a request was made to transfer €400.000, while I requested €5000, which is the amount actually written of now. My question is has anybody had some simular or other weird experience with plaid?

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The original was posted on /r/cryptocurrency by /u/sgtslaughterTV on 2024-01-08 03:23:00+00:00.

Original Title: I'm wondering how many "vocal degenerates" believe that memecoins "should" or "will" consistently and regularly outperform bitcoin or ethereum. The present long-term trend indicates bitcoin dominance is on the rise.

Forenote: We need to make a brief analogy.

Yes, I know there is a contentious statement in the title of this thread. However, it's just like stating "we're in a recession" in 2020, 2021, 2022, or 2023 - some people say "We were in a recession" and others will say, "We weren't." We can argue metrics / indicators, 2 quarters of consecutive decline of growth, or any other figures that come to mind, but it's all semantics at the end of the day and how you personally feel about the topic at hand. The same applies to making money on memecoins vs bitcoin.

Okay, so we see a couple of cryptocurrencies that have photos of puppies or dogs, or cats, or frogs on them, or food items and they go up by tens of millions of dollars in a couple of weeks. The only signal is that the coin in question outperformed bitcoin for a limited amount of time.

• ctrl + f: bitcoin dominance

Here is a visual aid:

At the top you all can see bitcoin. It's a straight line at the top of the chart all the way from 2013 to 2024. If we change the way the chart looks, however, with coingecko's other option, then we get this:

I'm taking a moment to highlight the importance of bitcoin dominance. I, myself, have somewhat BTC-maximalist-centric views. At the beginning of the 2020-2022 bull run, I thought all these nice marketing buzzwords were practical along with non-fungible tokens, but I see that there are too many new people that have only a basic understanding of metamask and they lose a lot of money because of malicious smart contracts that they don't or can't read and understand.

If you made money off of memecoins, then congratulations. Someone had to become your exit liquidity however, and there is no guarantee they will go higher again due to a lack of strong fundamentals that are understood by non-crypto people.

My thesis / hypothesis: A spot bitcoin ETF is right around the corner. Percentage-wise, We saw similar bitcoin moves in 2019-2020 before that year's halving event. Altcoin season came in full-effect in (just my opinion) August 2020-December 2021. We are three months away from the next halving. My (again, personal opinion), is that altcoin season will really take off in the time-range of June to September 2024.

Take everything here with a grain of salt. I'm not a financial advisor.

EDIT: I should mention that even though bitcoin dominance is on the rise, along with the price, in previous cycles, when this happened the price of bitcoin did not always go up. From January 2018 to December 2018, the price went down while bitcoin dominance rose.

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The original was posted on /r/cryptocurrency by /u/chintokkong on 2024-01-08 03:06:56+00:00.

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The original was posted on /r/cryptocurrency by /u/defialpro on 2024-01-08 02:25:58+00:00.

I think most of crypto is owned by a few hundred entities around the world. They’re all selling their alt coins and will go straight into Bitcoin as soon as the etf is approved. They’re unloading all their alt coins.

Then they’ll buy up the alt coins that they ruined after taking profits on btc. It’s the only thing that makes sense. How btc can not move and basically every coin is dumping day by day, while everyone is dead silent on it.

They’re going to be able to double dip their profits and wreck everyone who hasn’t moved their alts to Bitcoin. I am wondering when the dump will stop but I don’t think it will. It will continue dumping until the BTC etf is approved. I wish I would’ve done something about it a week ago.

What do you all think?

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The original was posted on /r/cryptocurrency by /u/CryptoConnexions on 2024-01-08 02:09:31+00:00.

With the next bull-run around the corner, I feel like DePIN (Decentralised Physical Infrastructure) will be the darling category. Every other category has the stigma of being magic internet money made up of only ones and zeros. But DePIN projects have physical, tangible assets that you can hold and point to as something that exists in the real world. DePIN will appeal to traditional stockmarket investors and act as the bridge between investing in real world assets and digital assets.

With that in mind, what’s your favourite DePIN project and if you could, please share info such as:

1. real-world problem it solves
2. the physical assets that exist
3. non-crypto partnerships (real-world companies that see value in crypto projects), and any other stats such as
4. buyback / burn details
5. number of users
6. market cap
7. token price
8. circulating supply etc.

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The original was posted on /r/cryptocurrency by /u/d3jok3r on 2024-01-08 01:42:19+00:00.

Original Title: On January 17th 2024 Algorand will release its whitepaper outlining arguably the most important upgrade to its consensus protocol since its inception: consensus incentivization and P2P gossip communication protocol

Good morning CC community. I just want to share this important news to everyone interested in blockchain tech and Algorand in particular.

On January 17th 2024, Algorand will release a whitepaper that outlines arguably the most important upgrade to its consensus protocol since its inception.

This historical upgrade includes the implementation of a Peer-to-Peer (P2P) gossip communication protocol and consensus incentivization. Though the technical implementation and detailed information is still not fully disclosed yet (we will have to wait until 17 Jan 2024), this P2P gossip communication protocol is expected to allow nodes in the network to communicate and share information directly with each other. This fully eliminates the dependence on Relay Nodes, the main source of network centralization criticized by blockchain advocates, thereby enhancing the network’s decentralization, resilience, and fault tolerance.

This historical upgrade will also introduce Algorand consensus incentivization, a mechanism designed to further encourage participation in the Algorand consensus process. By rewarding nodes for their contribution to the network’s security and stability, Algorand aims to foster a more robust and fully decentralized permissionless network. It's worth mentioning that it is extremely easy, low-cost, and no risk (no penalty, slashing, token locked up, etc.) to setup and run an Algorand participation node (you can literally do it with a Raspberry Pi at home).

It's an exciting time ahead for not only those in Algorand community but also in crypto space in general to see how these upgrades spark new innovation and advancement in blockchain technology.

It'll be great if you can also share what your fav blockchains are up to in 2024 in the comments.

Look forward to hearing from you all. Thank you!

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The original was posted on /r/cryptocurrency by /u/CryptoDaily- on 2024-01-08 00:01:00+00:00.

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:

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The original was posted on /r/cryptocurrency by /u/WineMakerBg on 2024-01-07 21:27:23+00:00.

QUICK TAKE

The number of in-person merchants who accept bitcoin has tripled in the past year, according to data from BTC Map.

There are currently over 6,000 vendors that accept bitcoin around the world, with many located in Latin America.

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The original was posted on /r/cryptocurrency by /u/N7DJN8939SWK3 on 2024-01-07 19:10:28+00:00.

I've been reading about North Korea's isolated economy and the intriguing reports suggesting their involvement in using stolen cryptocurrencies. Can anyone shed light on how they manage to integrate these digital assets into their economic system, considering the international sanctions and isolation they face? Looking for some insightful discussions on the mechanics behind this and any relevant updates.

They cant go to a CEX and exchange for local currency.

Are they trading with secret partners? Maybe China or Russia?

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The original was posted on /r/cryptocurrency by /u/customsbytoy on 2024-01-07 17:15:53+00:00.

Gotta respect tha hustle

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The original was posted on /r/cryptocurrency by /u/gr8ful4 on 2024-01-07 17:08:37+00:00.

Since OKX has turbo delisted Monero and Binance is in the process of delisting it, the question for on- and off ramps for Monero became more pressing.

So far the only bullet proof methods have been:

• bisq
• LocalMonero/AgoraDesk
• And BTC/ETH atomic swaps

But because high fees make the process of decentralized exchange cumbersome with both ETH and BTC most traffic so far went to LocalMonero. Which in itself is a good solution, but a centralized website lacks the robustness of a DEX like bisq or trustlessness of atomic swaps.

Therefore it's nice to see that both LTC and BCH as low fee alternatives have picked up the topic and BCH in the meanwhile delivered a functional PoC for a third major atomic swap implementation between BCH <>XMR.

We now have at least three atomic swaps implementations for

BTC

ETH

BCH

The next milestones will be bisq2, Haveno and SeraiDEX and for those interested in a deeper integration of the last atomic swap implementation there is a community funded project here:

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The original was posted on /r/cryptocurrency by /u/d8_thc on 2024-01-07 16:56:40+00:00.

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The original was posted on /r/cryptocurrency by /u/ZenGoOfficial on 2024-01-07 13:25:40+00:00.

We’re moving 10 Bitcoin (± $420,000 USD) and a Pudgy Penguin (± $25,000 USD) into a regular Zengo wallet and inviting you to try and steal it. We’re so confident in the robustness of our security model, we’re even sharing some of the 3 wallet recovery factors connected to this wallet.

We built Zengo in 2018 to fix the biggest problem with self-custody: Seed phrases. Zengo is not a hot wallet. Zengo is not a cold wallet. Zengo is a multi-factor MPC wallet: No seed phrase, no single point of failure.

Since 2018, we have over 1,000,000 users and a spotless security record:

• 0 wallets hacked
• 0 wallets taken over
• 0 wallets drained
• 0 wallets phished

We recognize that seed phrase maxis will not be interested in Zengo - but believe that the 99% will.

So no seed phrase: How does Zengo work?

1. Using a 2-of-2 Multi-Party Computation (MPC) framework, each of the two Zengo parties (Zengo app on the user device and Zengo server) independently generate their own “Secret Share” during the wallet creation process. The secret shares are cryptographically locked to prevent MITM attacks.
2. The share randomly generated on the user’s device is called the Personal Share and leverages the device’s hardware-based random number generator (TRNG). Only the Personal share can initialize and sign transactions, all of which are verified by the device’s hardware (Secure Enclave or TEE/Trusted Execution Environment).
3. The share randomly generated on Zengo’s remote server is called the Remote Share and is used to co-sign transactions emerging from the Personal Share.
4. Using MPC, these two Secret Shares are able to compute their corresponding public key securely.

Even if a hacker gains access to one of the two secret shares, it is still useless to them as they cannot spend user funds.

Lose your phone? The 3-factor wallet recovery process is biometrically locked to the user. More info here.

The Challenge: Hack a Zengo Wallet, Win 10 Bitcoin (±$420,000)

This Tuesday (January 9, 2024) we are putting our money where our mouth is. Yes: We argue that Zengo is more secure than a traditional single-factor hardware wallet.

Here’s what we’re doing:

Over the course of 15 days we will be adding up to 10 Bitcoin inside a Zengo wallet, inviting anyone to try and hack it.

We will also start sharing some of the security factors that protect the wallet.

Follow along on this page with updated information regarding the challenge: https://zengo.com/zengo-wallet-bitcoin-challenge

We are also awarding up to $750 in Bitcoin for those who create high-quality content as they try and hack the wallet, or learn about our model (terms apply, see blog for all details).

We believe that MPC wallets like Zengo will help securely self-custody millions who are stressed about seed phrases - or those who don’t even self-custody today because it’s too hard to do it correctly.

MPC is like AA on steroids, and can protect more than just EVM chains, like Bitcoin. We’ve already launched advanced features like Theft Protection which lock on-chain approvals to your Biometrics - and you can bet we’re activating it for this challenge!

Happy to answer questions about our approach to MPC, the #ZengoWalletChallenge, advanced features MPC enables (like theft protection, our on-chain no-kyc asset inheritance-style feature, or anything else).

AMA with the Zengo team will go from 10AM EST -12PM EST on Monday, Jan 8th. Until then feel free to start posting questions 🫡

AMA

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The original was posted on /r/cryptocurrency by /u/Bitcoin1776 on 2024-01-07 18:57:43+00:00.

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The original was posted on /r/cryptocurrency by /u/Laytenek on 2024-01-07 18:51:24+00:00.

So many people in here are shilling old coins like ADA, DOT, MATIC, XRP (seriously?) instead of new promising projects that have way better fundamentals than older coins.

Do you think it's because they bought on top and want to make it even to previous ATH, or they genuinely believe in success of these projects? I'm also holder of older coins that I bought back in January 2023, but I have more faith in new projects that are cheaper, more secure and have more solid systems.

#before anyone mentions that, we don't take into consideration BTC and ETH, for obvious reasons.

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The original was posted on /r/cryptocurrency by /u/CipherScarlatti on 2024-01-07 18:18:39+00:00.

The Grand prize is getting picked tomorrow.

Anybody enter and win? There's supposed to be 1001 potential winners from each week. Of course you never hear about it from these sweepstakes.

Nice way to start the new year if you win one of the big prizes ($250k in USDC or 2 BTC).

500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500 character requirement500

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The original was posted on /r/cryptocurrency by /u/FridgeMagnet8 on 2024-01-07 17:31:46+00:00.

I know, I know. I should have known better than trying to trade shitcoins on Solana. I just wanted to warn people about my experience so they didn't go down the same route.

Lucklly I've only been running test transactions - 0.01 SOL or about $1 a go through a Bonk Bot wallet on telegram. . But each time the amount of SOL used to buy a meme token is a lot more than that shown in DexScreener and Solscan. These both show the amount paid as 0.01 SOL. However in Bonk Bot the amount shown ranges from 0.0122 to 0.01422. The differences between the amounts paid are not due to any fees or taxes (these are shown as separate transactions and are at the appropriate amount) - and they do not show in the blockchain. They just seem to be missing from my wallet.

So I have tried to get some help. I've messaged Bonk bot on twitter and had no reply. You can't post in the telegram group so there's no joy there and there are no other contact details on the Bonk bot website. i am only grateful I ran test transactions first. Just stay away from Bonk Bot. And now I'm off to have a good long look at myself...

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The original was posted on /r/cryptocurrency by /u/Zestyclose_Acadia_40 on 2024-01-07 17:30:56+00:00.

The SEC re-posted yesterday to warn people not to fall victim to FOMO

The last time they posted the link to this article was Jan 23, 2021. It appears the SEC is expecting that the markets will continue the bullish momentum, and are gently reminding us that CRYPTO INFLUENCERS ARE NOT YOUR FRIENDS! Tread carefully. Do your research. Diversify. Keep your coins off of exchanges unless actively trading. And if you are actively trading stick to your exit strategy and keep your stop-losses current! Have fun, and let's not turn into a bunch of WSB degens

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The original was posted on /r/cryptocurrency by /u/Mediocre_Suspect_203 on 2024-01-07 16:56:58+00:00.

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The original was posted on /r/cryptocurrency by /u/Weary_Strawberry2679 on 2024-01-07 15:05:54+00:00.

As the title says, there are two popular assumptions that I've recently come across:

• If the spot ETF will be rejected by the SEC, the price will drop.
• If the spot ETF will be approved by the SEC, then it's a "sell the news" event, and the price will drop (even if temporarily).

So if the price is going to drop anyways, why don't we see a massive sell-off today coming from the exact same people who plan to sell their bags once the ETF is approved/rejected? That is, any avalanche in price that could start by the 10th of January moments after the decision is published, could also start today.

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The original was posted on /r/cryptocurrency by /u/kirtash93 on 2024-01-07 14:30:46+00:00.