Cryptocurrency News & Discussion

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/dav956able on 2024-01-05 10:17:57+00:00.

Around the time of last bullrun I had 1.1 btc, 5 eth, 10k worth in pancake, I then ended up blowing an awful lot of it on stupid defi projects. (I won't go into detail about how much I threw away on that stupid shit)

So im a bit anxious about breaking up any of my btc, maybe I could put .05 to .1 towards top 5 alts, .05 to .1 on gaming alts, then another .05- .1 on ai coins.

or if I went safe and only got 5 eth would I be safe in assuming my portfolio could rise to over 1.1 to maybe 1.5 btc?

This might come off as a noob question or pretty basic.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/dav956able on 2024-01-05 10:17:57+00:00.

Around the time of last bullrun I had 1.1 btc, 5 eth, 10k worth in pancake, I then ended up blowing an awful lot of it on stupid defi projects. (I won't go into detail about how much I threw away on that stupid shit)

So im a bit anxious about breaking up any of my btc, maybe I could put .05 to .1 towards top 5 alts, .05 to .1 on gaming alts, then another .05- .1 on ai coins.

or if I went safe and only got 5 eth would I be safe in assuming my portfolio could rise to over 1.1 to maybe 1.5 btc?

This might come off as a noob question or pretty basic.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/blindwombat on 2024-01-05 07:42:29+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/blindwombat on 2024-01-05 07:42:29+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/niddLerzK on 2024-01-05 07:18:39+00:00.

It might come as a surprise for some of you but, IMO, a paradigm shift is underway, and its name is modularity. The days of a monolithic blockchain design might be counted.

What are Modular and Monolithic Blockchains?

In a monolithic blockchain, all tasks are carried out on a single layer or a cluster of closely interconnected chains that operate on the same layer. Nodes in a monolithic chain are responsible for executing consensus, ensuring data availability and validating transactions. As a result, these nodes simultaneously serve all four core blockchain functions. This makes it harder or impossible to scale without sacrificing Security or Decentralization.

Examples: Solana, Bitcoin, Cardano, BSC, etc.

On the opposite end, we have Modular. Modularity simply means that the blockchain design revolves around the division of the system into distinct layers, each specializing in crucial functions. This means that the tasks are divided and are able to scale independently. The three main layers can be divided:

• Execution Layer:
  • The realm where day-to-day transactions and smart contracts thrive.
  • Utilizes Layer 2 scaling solutions like optimistic or ZK-based rollups for enhanced scalability.
• Settlement Layer:
  • The bedrock that secures the entire ecosystem.
  • Scalable rollups periodically post transaction proofs to the settlement layer, ensuring secure and immutable storage.
• Data Availability:
  • A critical aspect residing within the security domain of Layer 1, ensuring the integrity of transactions.

Examples: Ethereum (sort of), Celestia, Syscoin, etc.

One of the biggest components in scaling is related to Data Availability (DA), where I won't try to explain as it is complicated to I will just link a CoinMarketCap Article regarding DA:

That's why we're seing a shift from using Ethereum DA (as it's not scalable), to using other DA layers, such as Celestia, Avail, Syscoin and Near.

Using these DA Layers simply means that scaling is much easier and the fees are much lower. Using Syscoin as an example, Rollux is actually the first Layer 2 to use Syscoin's DA solution and Settlement Layer, and what does that mean? Fees are incredibly cheap (0,00004 $SYS, which means, at the current rate, $0.0000039). This is a big deal since it's not sacrificing security or decentralization, since it's using Syscoin's as it's settlement layer, and that's the beauty of Modularity!

Ethereum is in fact working on this, , but it's not known how much this will change Ethereum's potential scalability.

So yes, you should care about Modularity and Data Availability, I recommend everyone to dive into Celestia, Syscoin, and other Modular layer + other DA solutions.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/dreamygeek on 2024-01-05 07:03:45+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/niddLerzK on 2024-01-05 07:18:39+00:00.

It might come as a surprise for some of you but, IMO, a paradigm shift is underway, and its name is modularity. The days of a monolithic blockchain design might be counted.

What are Modular and Monolithic Blockchains?

In a monolithic blockchain, all tasks are carried out on a single layer or a cluster of closely interconnected chains that operate on the same layer. Nodes in a monolithic chain are responsible for executing consensus, ensuring data availability and validating transactions. As a result, these nodes simultaneously serve all four core blockchain functions. This makes it harder or impossible to scale without sacrificing Security or Decentralization.

Examples: Solana, Bitcoin, Cardano, BSC, etc.

On the opposite end, we have Modular. Modularity simply means that the blockchain design revolves around the division of the system into distinct layers, each specializing in crucial functions. This means that the tasks are divided and are able to scale independently. The three main layers can be divided:

• Execution Layer:
  • The realm where day-to-day transactions and smart contracts thrive.
  • Utilizes Layer 2 scaling solutions like optimistic or ZK-based rollups for enhanced scalability.
• Settlement Layer:
  • The bedrock that secures the entire ecosystem.
  • Scalable rollups periodically post transaction proofs to the settlement layer, ensuring secure and immutable storage.
• Data Availability:
  • A critical aspect residing within the security domain of Layer 1, ensuring the integrity of transactions.

Examples: Ethereum (sort of), Celestia, Syscoin, etc.

One of the biggest components in scaling is related to Data Availability (DA), where I won't try to explain as it is complicated to I will just link a CoinMarketCap Article regarding DA:

That's why we're seing a shift from using Ethereum DA (as it's not scalable), to using other DA layers, such as Celestia, Avail, Syscoin and Near.

Using these DA Layers simply means that scaling is much easier and the fees are much lower. Using Syscoin as an example, Rollux is actually the first Layer 2 to use Syscoin's DA solution and Settlement Layer, and what does that mean? Fees are incredibly cheap (0,00004 $SYS, which means, at the current rate, $0.0000039). This is a big deal since it's not sacrificing security or decentralization, since it's using Syscoin's as it's settlement layer, and that's the beauty of Modularity!

Ethereum is in fact working on this, , but it's not known how much this will change Ethereum's potential scalability.

So yes, you should care about Modularity and Data Availability, I recommend everyone to dive into Celestia, Syscoin, and other Modular layer + other DA solutions.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/dreamygeek on 2024-01-05 07:03:45+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/cuki321 on 2024-01-05 05:07:40+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/FitScore3115 on 2024-01-05 05:47:02+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Cptn_BenjaminWillard on 2024-01-05 02:30:50+00:00.

Let's say that the world eventually decides that Bitcoin is useful, both as a store of value and as a digital asset, but that they also wish it was easier to trade small amounts for fractions of a cent. That would make it possible to do things like buy a cup of coffee, etc., with a functional currency.

What's the possibility of creating a new blockchain which is essentially pegged directly to BTC, but at a 1/1,000,000 ratio. Or maybe not 1 to a million, but something similar, maybe only off by an order of magnitude. Or maybe based on the sat.

Now give it a name like Satcoin, and have it so that blocks are produced much more frequently, at much lower cost, so that fees are practically nothing. Furthermore, protect the peg, so that people know that one Satcoin is always worth the same as one sat.

It's sort of a mixed concept combining L2's, stablecoins (assuming that BTC becomes a default currency), and the ability to settle transactions extremely quickly in large volumes (again, sort of like an L2).

There are obvious technical impossibilities here, but I want to allow my mind to wander for a bit. If Satcoin (STC?) could be further divisible into something like 10,000 parts, it wouldn't matter if BTC went well over a million (although the decimal portion would present a trick when converting in and out of real sats, so I guess you'd have to concatenate. What if a similar project to LN could accomplish this? Of course, then there are also implications relating to the fact that we still need to sacrifice one third of the trilemma, probably security.

And not being able to program smart contracts within BTC is an obvious challenge.

To be clear, I'm not under any misguided belief that this scenario could ever be possible. But I think that it would be a way to make LN even more aligned with BTC as a workable currency.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/aaj094 on 2024-01-04 12:54:11+00:00.

I understand that most folks on this sub are investors rather than those looking for ways to spend crypto. But if you are one who has an interest in the latter, are you up to date about recent Lightning UX enhancements?

Seeing the concerns around high BTC fees, hopefully there is enough awareness of the major strides that Lightning has made in recent months. I am referring to non-custodial wallets like Phoenix who have implemented splicing, inbound liquidity request. If you have been frustrated by the UX from an year back, then that means nothing for what the Lightning UX is now. You no longer have to struggle with capacity across multiple channels (thanks to splicing) nor do you get surprising on chain fees due to the capacity of single channel being always very clear and having ability to request sufficient inbound liquidity in advance.

All this is not to deny that Lightning still has some onchain footprint but that is highly optimised now and a user, with some simple planning, can easily make hundreds of low fee payments after a channel is opened.

If you have seen the number of Lightning channels and locked btc decline in recent months, it is very much a consequence of routing being more efficient due to the splicing upgrade and associated channel usage efficiency.

For those who depend on Lightning because of economic situation in their countries, it makes a lot of sense to figure out how to pay in a low cost manner while remaining in the asset that has global recognition and liquidity. They will surely understand what I am saying based on how much the attempt to keep funds in the likes of bch, xlm, xrp, ltc, nano, etc for saving a few pennies in transaction costs has actually cost them over the longer period by direct loss of value.

Don't believe. Try it out.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/landdon on 2024-01-04 11:51:40+00:00.

1. I have a Coinbase account and Coinbase wallet. The relationship between the two is not very convenient to me. For instance if I want to send from my wallet to my account I have to pay a pretty hefty fee. What is the process of moving assets from the wallet to my account?
2. How do you take crypto from your wallet to transfer to your bank? Is that not the correct process to follow?
3. According to Coinbase, the trading account is just as secure as a wallet, so do I even need a digital wallet?

Thanks for helping the old guy out!!

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/cryptolamboman on 2024-01-04 11:34:30+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/VagabondingHeart on 2024-01-05 03:58:30+00:00.

I've seen a few people lay our their crypto strategy for the 2024/25 bull market and curious to hear what you guys think and what your personal strategy is for 2024. Very simplified, the two most main strategies I have see are:

Strategy 1) Hold mostly BTC for start of 2024 until BTC reach previous ATH or bit higher --> then move into Alt coins and hold until bull market nears the top (maybe early to mid 2025) --> cash out and move into cash/gold/etc.

Strategy 2) Hold mostly Alt coins with some BTC throughout the bull run and when market nears the top --> cash out and move into fiat/gold/etc.

Obviously there are a lot of other ways to plan this out, but curious to hear what your strategy is going into this bull market.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/goldyluckinblokchain on 2024-01-04 20:36:42+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Stright_16 on 2024-01-05 00:47:29+00:00.

Hi, my cryptocurrency portfolio has been growing, and I am reaching the point where I think I should get them off Coinbase, and have self custody of them. I've been looking into both hard ware wallets (like Trezor and Ledger), and also mobile wallets (like trust wallet, exodus, coinbase).

Are there any strong differences between them, and any reasons to favor one over the other? All I really know is that hardware wallets are a little bit safer as phones can be stolen, get hacked, malware, and could be storing your seed phrase on the device.

I also have a question about seed phrases, I know most are generated with the BIP-39 standard, and this allows you to access your coins regardless of which wallet you lose, however I was trying out Coinbase wallet and have some funds there, and the seed phrase is only 12 words, and I noticed that the Reddit vault phrase is also 12 words. Can I import and access this on a hardware wallet like the Trezor or Ledger, even though they use 24 words? How many different phrases do you even get on a hardware wallet? Is it one for each coin, or one phrase that covers everything? On Coinbase wallet you can make a bunch of wallets each with their own coins and seed phrases

Finally, do Trezor and Ledger support custom networks and tokens? I know that some mobile wallets.

Thank you :)

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/FrodoDBaggin on 2024-01-05 00:24:22+00:00.

US based -

I’m not sure if anyone else has done a filing yet, but I just submitted two 8300 forms earlier today and it was pretty rough getting it setup/submitted. I know what to do now but the form doesn’t feel friendly to crypto and I’m questioning how the rest of the crypto community will do with it.

I can see two potential outcomes.. 1). I see people either not doing it at all or 2). Doing it incorrectly. To be fair, I’m still questioning whether I filled it out 100% correctly, but I guess it’s better than nothing. I can also see this impacting how people trade crypto if the IRS starts cracking down. I don’t feel great about it.

Thoughts?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/CryptoDaily- on 2024-01-05 00:00:29+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:

• 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.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/PretentiousMeowth on 2024-01-04 23:10:56+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/rynowins on 2024-01-04 23:01:30+00:00.

I see a lot of people who seem like they’re only holding onto their “Dino” coins from 2 cycles ago but very few mentions of newer alt coins that will almost certainly experience the bulk of the multiples to be experienced over the next year or 2. I feel like this is due to laziness and zero interest in the low/midcap market and only a passive interest in bagholding stuff you learned about 6 years ago.

Am I the only one who feels this way?

Ergo? LTC? LINK? ADA? DOT? XRP?

Cmon bro

Ok, sure… these are solid tokens and will appreciate but just like every other alt, they are largely vapor and all speculation is really based on price. Idc if you say you’re in this for the tech, if the number next to your bag stays where it is for the next 18 months, I’d imagine you’d be fucking pissed.

Is there no interest in researching/buying new shiny L1s, DEXs, Oracles, EVMs, etc etc? Even memes….

This is not an attack on anyone’s holdings just feel the vibe here is so different than other crypto socials that are always on the hunt for new narratives while Reddit stays a few years behind the curve.

Take care love you

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/ManzaaLV on 2024-01-04 22:22:00+00:00.

Hello!

Are there any tools out there that automates crypto transfers between accounts/wallets? Like when receiving new token transfer it to another wallet.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/clit_or_us on 2024-01-04 22:20:06+00:00.

I am trying to send BTC from my Ledger to Kraken, but the fee is over $8 USD! That seems insane. I understand there is lots going on in the blockchain right now, but there has to be some way to transfer assets with a reasonable fee. I was able to transfer coins out of Coinbase using the Lightning Network, but since Ledger doesn't support the Lightning Network, what can I do to get my assets out of there? Do I just bite the bullet and accept the fees? Since I want to sell the coins, do I just use their Ledger Live platform to do the sell?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/gen66 on 2024-01-04 22:14:26+00:00.

Original Title: Is it likely that after the BTC ETF gets approved, all the big players to team up and massively push down the price as much as possible so they can load up with the big spoon? Are you expecting another Wyckoff manipulation? BTC 35k for one last time?

I would really like to load my bags for one last time before the halving. What we saw 2 days ago was indeed a dip for ants. I just can't stop thinking about how the big players are going to literally bulldoze the price down to some crazy level so they can load up on the cheap and buy BTC ETF. 

But it's not something uncommon in crypto, and it's not even hard to do. In the last bull market, we saw quite a few manipulations of this kind. The big ones can almost drop the price on demand if they really want to, and there are always multiple factors at play. They can push it down enough for the cascade liquidations to trigger, and then that's an extra 5–10%.

The Wyckoff scheme was absolutely spot-on last year. If they can move the BTC price to match the Wyckoff chart, then what other proof do we need that these people can and will manipulate the price? And what better time than now?

So, are you guys waiting for one last dip, like 30-35k BTC or not?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Unpopular666 on 2024-01-04 21:11:57+00:00.