Cryptocurrency News & Discussion

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/drjacks on 2023-12-25 11:32:57+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/partymsl on 2023-12-25 13:16:38+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/TakeMyMoneyIDontNeed on 2023-12-25 11:04:57+00:00.

Edit: sorry for fucking up the title

I currently have two different coins and mainly use them for transferring money. I have Bitcoin and Tether (USDT). Both of them are a struggle to pay with, while bitcoin has high fees right now, Tether needs ETH for gas fees which are also high. Buying and transferring ETH from an exchange to my wallet to use as gas does cost even more fees, and takes a lot of time.

All I want is an easy and not so costly transferring method. The shop where I spend my money does accept BTC, ETH, USDT and LTC. I am thinking about setting up LTC but I fear that it is a lot of work and will still cost a lot in fees anyways.

I think cryptocurrencies have a lot of potential, especially with bitcoin lightning network and stuff like that, but using crypto to transfer money is pretty shitty right now :(

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/philipjfry__ on 2023-12-25 10:15:04+00:00.

Aussie living in Japan currently using an exchange back home.

To deposit funds I need transfer funds via WISE back to my Aussie bank account, which incurs fees and then there's the weak ¥¥¥.

I like my exchange, but I was looking into Binance Japan. I'm unfamiliar with Binance in general and any available Crypto Exchanges here in Japan. I'm of the mind set, if it ain't broke don't fix it, so whilst not ideal, it's not the worst situation.

A bit of a niche question, but anyone here in something similar that could offer an opinion (not necessarily advice).

Cheers!

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/primordial_gloop on 2023-12-25 10:38:52+00:00.

Mexc problems?

Who else has had their mexc account frozen and have you been trading futures? It seems to only be futures traders being affected. New regulations means mexc has to abide by a certain country's regs and I suspect this is why accounts have been froze. Just want to hear what others have to say. Hopefully not too many horror stories.

Adding extra characters so that thus is posted, ignore this last part blah blah blah blah dumb five hundred character rule. Blah blah extra characters antidistablishmentarianism and a load of old rubbish. Is this gonna get posted now? Must be enough characters now?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/NambaCatz on 2023-12-25 09:44:38+00:00.

But at that point you might have to wonder: Why should I buy into a crypto that doesn't even work?

Did the devs ever even figure out what happened with the last major outage only 10 months ago?

Solana Developers Say Reason for Network Outage Still Unclear

“At approximately 05:46:16 UTC 2023-02-25, Solana Mainnet Beta suffered a significant performance degradation,” the developers said. “Eventually leading the validator community to opt for a restart of the network. The cause of this is still unknown and under active investigation.”

“Root cause is still unknown and under active investigation,” developers added.

The problems that started as sluggish transaction processing spiraled into a near complete shutdown of activity on Solana, validators and developers told CoinDesk over the weekend.

source:

And what about that Mainnet Beta? Yes, you heard right, it's still only in Beta, even though they said over 2 years ago that it's ready for prime time, but they'd keep the 'Beta' tag for a year or so:

Mainnet is launched! It was launched in March and is successfully working. For your understanding - Yes, we were first calling it beta because it was just launched and not every function was available.

We will keep the suffix "beta" for a year or so because we want to check the mainnet stability in the long term and make sure we have a great product. But it's a working network - partners work on this network, Serum DEX running on this blockchain, KIN moves it's users to this network and that is exactly the blockchain the Solana Accelerator team winners use to build on.

source:

(see first comment)

Currently the main explorer still lists it as Beta. I invite you to check for yourself:

And what about that concentration of over 75% of the stake in less than 10% of the top validators?

(a quick look at should confirm)

This is a remarkably frightening statistic. This is definitely not decentralized enough, not even remotely so. Could you imagine if there was a Bitcoin mining pool that controlled 75% of the hashing power?

Final question: are any of the people FOMO'ing into Solana DYOR'ing. It only took me 20 minutes to find this stuff out.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Shiratori-3 on 2023-12-25 10:52:33+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Shiratori-3 on 2023-12-25 10:52:33+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Powerful-Alarm9394 on 2023-12-25 09:32:44+00:00.

According to token.unlocks.app the new Polygon Ecosystem Token (POL) has monthly inflation of 21.93%. I was considering to buy this token because of the zkEVM narrative and lots of people considering it a solid project, but I just can’t wrap my head around this crazy inflation. I expect bullish trend to continue but even so how can this thing possible grow in price, can sb explain? Or is this only for people who are staking and receiving benefit from the number of tokens rather than from price appreciation?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Mus1k on 2023-12-25 08:36:37+00:00.

I find it interesting that people in this sub consider ethereum as a stronghold of a cryptocurrency in both security and stability and when comparing to solana for example will quickly reference how its had 2-3 outages in the last few years (which were mostly resolved within hours). AND YET, people completely forget that ethereum was hacked so badly in 2017 that it resulted in developers (not a very decentralized decision btw), to completely abandon the original token and fork to a new coin which would invalidate the stolen crypto.

Had this happened recently, ethereum would be ripped to shreds, but just goes to show that people have a very short memory.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Mus1k on 2023-12-25 08:36:37+00:00.

I find it interesting that people in this sub consider ethereum as a stronghold of a cryptocurrency in both security and stability and when comparing to solana for example will quickly reference how its had 2-3 outages in the last few years (which were mostly resolved within hours). AND YET, people completely forget that ethereum was hacked so badly in 2017 that it resulted in developers (not a very decentralized decision btw), to completely abandon the original token and fork to a new coin which would invalidate the stolen crypto.

Had this happened recently, ethereum would be ripped to shreds, but just goes to show that people have a very short memory.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/fap_fap_fap_fapper on 2023-12-25 08:26:04+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/fap_fap_fap_fapper on 2023-12-25 08:26:04+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Professional-Time-50 on 2023-12-25 07:12:23+00:00.

I keep hearing people using the ETFs approval as some kind of an unprecedent example of institutional adoption of BTC, but is that really the case.

There is a very important distinction in most peoples statement on this subreddit, that many are wrong about but keep repeating it as truth. The wealthiest fund managers like Blackrock are not adopting Bitcoin, they are simply opening and accommodating an additional channel for those that want to adopt Bitcoin as an investment.

If I was going to compare the approval of ETF to anything more common, I would have to say that its like a big box store, taking a chance on brining in a niche product and hoping they will have a lot of sales. They themselves are not using that product in their store but simply make it more accessible to those that want it. Saying that, there is no way to guarantee that the product will be an instant success and will fly off the shelves, does it? Things get discontinued from big box store all the time.

That is a very big difference and that is also a reason why the existing Bitcoin ETFs in Canada and Europe are not doing anywhere close to the amount of business everyone projects the new channel should bring. Bitcoin has now been around for 15 years. Its not a new thing by any measures. Its not hard to get at all anymore, since setting up an online crypto brokerage account in US or Europe and funding it take minutes now and not weeks like it did when I bought my first Bitcoin in 2017.

I won't even go to the narrative that both banks and governments have been heavily pushing for a decade now that crypto currencies are nothing more then methods of payment for criminals and terrorist. If you think, people will just forget about that and start piling into the most risky investment on the planet, with a history of collapsing in value by 75-85% on a regular basis, you are all out of your mind.

It really reminds me of the Coinbase listing on stock exchange. It was hailed as the moment the financial markets recognized that crypto exchanges are an legitimate businesses and have a place along stock markets and other financial exchanges. The results were no where near the hyped numbers projected to come into the crypto space and ETFs will turn out the be exactly the same. It will help bring in some additional funds, that otherwise would not come in, but it will be far from revolutionary and earth shattering as many are making it to be.

After all Blackrock or any other institution, currently applying for Bitcoin ETFs, has not committed to put any of its existing funds under management into the crypto ETFs but simply offer another channel for those that might want to use it, outside already available means of crypto exchanges. There is a reason why most popular Canadian and European Bitcoin Spot ETFs are just around 2 billion of dollars under management each and not more then that. By the way most of the growth in those ETFs came from recent price increase of Bitcoin itself and not some wide spread adoption of investors.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/JohnTitorAlt on 2023-12-25 06:59:31+00:00.

Kadena had its first big candle since the bear market as one of the top movers for the day.

This project has been a hidden gem the last 2 years. Nobody has really talked about it which is fine by me. It had an ungodly parabolic, hype driven move at the end of the last cycle and broke the top 100 by market cap without a major exchange (it was on kucoin but that was as "big" as it got)Since then it was just in a downtrend but I've kept a close watch on what's being done on the chain.

The reason being is that it's a fundamental power house of a project.

The project was started by Stuart Popejoy and William Martino who created JP Morgan’s first blockchain and led the SEC’s Crypto Committee respectively. They built JPmorgans first crypto network.That's 2 leaders who know how to navigate the traditional financial and regulatory world ensuring everything has been done by the book. They're also brilliant programmers and there a lot of interviews available.

On their advisory team is Dr. Stuart Haber, he was the most cited author in Satoshis bitcoin white paper. Reason being, is that he is the literal inventor of blockchain. There would be no bitcoin without him.

Pact: Pact is the Kadena programming language that was built from the ground up with cryptography in mind. There's a lot of limitations being put on the devs of all these other layer 1s by sticking with Solidity, Python, c++ and older traditional coding languages. Other blockchain devs are trying to build pyramids with stone age tools. You might be able to get the structure up but will it survive the test of time and all the elements? You shouldn't have to put all these band aid layer 2s on top of a solid foundation. Fixed pipes leak eventually

By using pact the result is a green POW(as secure and decentralized as BTC) layer 1that scales indefinitely. Kadena uses layers of webbed sidechains to ensure the fastest most efficient route to instant finality. There will never be the issue that Avax ( I hold and use avax so don't think I'm just shitting on it for fud sake,I like it, just an example) has right now with insane gas fees that exceed the cost of the transaction.

The tech and the team are absolutely impressive. They've essentially solved the crypto trilema and it blows my mind nobody talks about it. Look into it. I could rant more about it but I know CC is usually more interested in pumpamentals over any DD or fundamentals

Pumpamentals: The market cap as of writing this is 378.91m and it stands at 137 of all crypto. This is of course after the 68% pump of the day. Its still such a small cap coin. Its ATH was 28.21 in April of 2021. It's still down 95% from there but I believe it can easily go far beyond it this cycle. Easily. SOL still has a lot of legs left in this cycle and it's market cap is at 48.43b. AVAX is at 17.43b. These market caps could easily be obtained and exceeded by a layer 1 as strong and competent as KDA

They're supported on more exchanges this cycle ( binance, okx, gate.io and still kucoin for non us resident), they recently got ledger support, have more exchanges in mind (coinbase was filed)and they're starting a marketing campaign in January. Layer 1s have been going absolutely insane as of late. Sectors pump in tandem. KDA will follow and it's still under so many peoples radars and actually has transparent team and utility to retail and most importantly, the institutions which will be driving these markets after ETF news.

I could also go into some TA reasons to be bullish but don't want to piss you guys off anymore than I have. Atleast look at the weekly chart if that's your thing.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/flowers_at_dusk on 2023-12-24 23:58:08+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/sexypenis69420 on 2023-12-24 22:32:27+00:00.

Say I wanted a basic trading bot that can track EVERY coin on Kucoin and automatically buys when a coin goes up by a specified percent within a specified timeframe on immediately with no delay, I need to be able to set the percentage and timeframe and easily be able to turn the bot on and off. What are some ways I can do this without having to write code?

A notification system that notifies me instead of automatically buying would work too as long as there is no delay if that is the only alternative.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Professional-Time-50 on 2023-12-25 07:12:23+00:00.

I keep hearing people using the ETFs approval as some kind of an unprecedent example of institutional adoption of BTC, but is that really the case.

There is a very important distinction in most peoples statement on this subreddit, that many are wrong about but keep repeating it as truth. The wealthiest fund managers like Blackrock are not adopting Bitcoin, they are simply opening and accommodating an additional channel for those that want to adopt Bitcoin as an investment.

If I was going to compare the approval of ETF to anything more common, I would have to say that its like a big box store, taking a chance on brining in a niche product and hoping they will have a lot of sales. They themselves are not using that product in their store but simply make it more accessible to those that want it. Saying that, there is no way to guarantee that the product will be an instant success and will fly off the shelves, does it? Things get discontinued from big box store all the time.

That is a very big difference and that is also a reason why the existing Bitcoin ETFs in Canada and Europe are not doing anywhere close to the amount of business everyone projects the new channel should bring. Bitcoin has now been around for 15 years. Its not a new thing by any measures. Its not hard to get at all anymore, since setting up an online crypto brokerage account in US or Europe and funding it take minutes now and not weeks like it did when I bought my first Bitcoin in 2017.

I won't even go to the narrative that both banks and governments have been heavily pushing for a decade now that crypto currencies are nothing more then methods of payment for criminals and terrorist. If you think, people will just forget about that and start piling into the most risky investment on the planet, with a history of collapsing in value by 75-85% on a regular basis, you are all out of your mind.

It really reminds me of the Coinbase listing on stock exchange. It was hailed as the moment the financial markets recognized that crypto exchanges are an legitimate businesses and have a place along stock markets and other financial exchanges. The results were no where near the hyped numbers projected to come into the crypto space and ETFs will turn out the be exactly the same. It will help bring in some additional funds, that otherwise would not come in, but it will be far from revolutionary and earth shattering as many are making it to be.

After all Blackrock or any other institution, currently applying for Bitcoin ETFs, has not committed to put any of its existing funds under management into the crypto ETFs but simply offer another channel for those that might want to use it, outside already available means of crypto exchanges. There is a reason why most popular Canadian and European Bitcoin Spot ETFs are just around 2 billion of dollars under management each and not more then that. By the way most of the growth in those ETFs came from recent price increase of Bitcoin itself and not some wide spread adoption of investors.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/JohnTitorAlt on 2023-12-25 06:59:31+00:00.

Kadena had its first big candle since the bear market as one of the top movers for the day.

This project has been a hidden gem the last 2 years. Nobody has really talked about it which is fine by me. It had an ungodly parabolic, hype driven move at the end of the last cycle and broke the top 100 by market cap without a major exchange (it was on kucoin but that was as "big" as it got)Since then it was just in a downtrend but I've kept a close watch on what's being done on the chain.

The reason being is that it's a fundamental power house of a project.

The project was started by Stuart Popejoy and William Martino who created JP Morgan’s first blockchain and led the SEC’s Crypto Committee respectively. They built JPmorgans first crypto network.That's 2 leaders who know how to navigate the traditional financial and regulatory world ensuring everything has been done by the book. They're also brilliant programmers and there a lot of interviews available.

On their advisory team is Dr. Stuart Haber, he was the most cited author in Satoshis bitcoin white paper. Reason being, is that he is the literal inventor of blockchain. There would be no bitcoin without him.

Pact: Pact is the Kadena programming language that was built from the ground up with cryptography in mind. There's a lot of limitations being put on the devs of all these other layer 1s by sticking with Solidity, Python, c++ and older traditional coding languages. Other blockchain devs are trying to build pyramids with stone age tools. You might be able to get the structure up but will it survive the test of time and all the elements? You shouldn't have to put all these band aid layer 2s on top of a solid foundation. Fixed pipes leak eventually

By using pact the result is a green POW(as secure and decentralized as BTC) layer 1that scales indefinitely. Kadena uses layers of webbed sidechains to ensure the fastest most efficient route to instant finality. There will never be the issue that Avax ( I hold and use avax so don't think I'm just shitting on it for fud sake,I like it, just an example) has right now with insane gas fees that exceed the cost of the transaction.

The tech and the team are absolutely impressive. They've essentially solved the crypto trilema and it blows my mind nobody talks about it. Look into it. I could rant more about it but I know CC is usually more interested in pumpamentals over any DD or fundamentals

Pumpamentals: The market cap as of writing this is 378.91m and it stands at 137 of all crypto. This is of course after the 68% pump of the day. Its still such a small cap coin. Its ATH was 28.21 in April of 2021. It's still down 95% from there but I believe it can easily go far beyond it this cycle. Easily. SOL still has a lot of legs left in this cycle and it's market cap is at 48.43b. AVAX is at 17.43b. These market caps could easily be obtained and exceeded by a layer 1 as strong and competent as KDA

They're supported on more exchanges this cycle ( binance, okx, gate.io and still kucoin for non us resident), they recently got ledger support, have more exchanges in mind (coinbase was filed)and they're starting a marketing campaign in January. Layer 1s have been going absolutely insane as of late. Sectors pump in tandem. KDA will follow and it's still under so many peoples radars and actually has transparent team and utility to retail and most importantly, the institutions which will be driving these markets after ETF news.

I could also go into some TA reasons to be bullish but don't want to piss you guys off anymore than I have. Atleast look at the weekly chart if that's your thing.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/gunshotacry on 2023-12-24 21:13:20+00:00.

This must be a fairly common scenario with protocols or smart contracts always popping up and disappearing. But with both chains (the tokens native chain and the one its stuck on) being active and the token still viewable in the wallet and not burned or liquidated, there must be a solution. I understand that bETH is a wrapped token representing the equal value of the token but not actually my original token and that the wrapping was done through a now dead protocol or smart contract. The wallet appears to be able to still connect to Anchor but nothing can be done on it. It looks like it needs to be unwrapped before being bridged back through the wormhole but I'm not sure if I can unwrap at this point.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/flowers_at_dusk on 2023-12-24 23:58:08+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/aItalianStallion on 2023-12-24 21:01:42+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/sexypenis69420 on 2023-12-24 22:32:27+00:00.

Say I wanted a basic trading bot that can track EVERY coin on Kucoin and automatically buys when a coin goes up by a specified percent within a specified timeframe on immediately with no delay, I need to be able to set the percentage and timeframe and easily be able to turn the bot on and off. What are some ways I can do this without having to write code?

A notification system that notifies me instead of automatically buying would work too as long as there is no delay if that is the only alternative.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/gunshotacry on 2023-12-24 21:13:20+00:00.

This must be a fairly common scenario with protocols or smart contracts always popping up and disappearing. But with both chains (the tokens native chain and the one its stuck on) being active and the token still viewable in the wallet and not burned or liquidated, there must be a solution. I understand that bETH is a wrapped token representing the equal value of the token but not actually my original token and that the wrapping was done through a now dead protocol or smart contract. The wallet appears to be able to still connect to Anchor but nothing can be done on it. It looks like it needs to be unwrapped before being bridged back through the wormhole but I'm not sure if I can unwrap at this point.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/aItalianStallion on 2023-12-24 21:01:42+00:00.