Cryptocurrency News & Discussion

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The original was posted on /r/cryptocurrency by /u/jeraco73 on 2023-12-18 14:22:59+00:00.

I just noticed that Coinbase has reported my tax calculation using Highest In/First out. But I use CoinLedger to figure out my tax liability using First In/First Out.

Coinbase gives me the option to change it- here's the message:

"If you filed your crypto taxes previously but didn't use Highest in, First out (HIFO), you can now update it to prevent paying taxes twice on the same activity. This can only be done once and is available for a limited time. "

I've apparently filed this way for several years, should I change it now? I don't want to get red-flagged by the gub'mint.

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The original was posted on /r/cryptocurrency by /u/jeraco73 on 2023-12-18 14:22:59+00:00.

I just noticed that Coinbase has reported my tax calculation using Highest In/First out. But I use CoinLedger to figure out my tax liability using First In/First Out.

Coinbase gives me the option to change it- here's the message:

"If you filed your crypto taxes previously but didn't use Highest in, First out (HIFO), you can now update it to prevent paying taxes twice on the same activity. This can only be done once and is available for a limited time. "

I've apparently filed this way for several years, should I change it now? I don't want to get red-flagged by the gub'mint.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Staxu9900 on 2023-12-18 13:19:55+00:00.

EVERYTHING is pumping, absolutely EVERYTHING, except your wallet.

You want to reposition your holdings, you sale your bags with 10-30-100% gains and buy into all that stuff which was pumping.

Then in drops, obviously, what did you expect, it was already pumping before you bought it.

Then, your old coins kick in and they absolutely outperform, all that shit which was pumping before by 10-30x.

HELLO, welcome to crypto. Here is few things that I learned:

YOU are your worst enemy, you and your greed.

DO your own research.

DO hold to your bags (unless project went tits up like LUNA, FTT etc)

DO set alerts for wanted price action of your tokens.

DO wait for the dip, it will come, giving you a chance to reinvest.

DO NOT panic sale at the dip.

DO NOT listen to people, acting like they know the best, it’s crypto, they don’t know more than others.

DO NOT buy shit, thet YT influencers/advisors promote, it’s already too late, if you buy, you’ll buy high, just before they sale.

DO NOT EVER, invest money that you do not have or, are for bills, life, presents for your kids, for your holidays etc

FOMO is real and is hard. If you feel like you FOMO, try, please try not to buy, just wait for the dip, it will come soon.

If it comes to pump and dump on Telegram or other medium, sign up, but on the first one, Don’t participate, just watch how it goes. Only those who run it, walk away with money.

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The original was posted on /r/cryptocurrency by /u/Staxu9900 on 2023-12-18 13:19:55+00:00.

EVERYTHING is pumping, absolutely EVERYTHING, except your wallet.

You want to reposition your holdings, you sale your bags with 10-30-100% gains and buy into all that stuff which was pumping.

Then in drops, obviously, what did you expect, it was already pumping before you bought it.

Then, your old coins kick in and they absolutely outperform, all that shit which was pumping before by 10-30x.

HELLO, welcome to crypto. Here is few things that I learned:

YOU are your worst enemy, you and your greed.

DO your own research.

DO hold to your bags (unless project went tits up like LUNA, FTT etc)

DO set alerts for wanted price action of your tokens.

DO wait for the dip, it will come, giving you a chance to reinvest.

DO NOT panic sale at the dip.

DO NOT listen to people, acting like they know the best, it’s crypto, they don’t know more than others.

DO NOT buy shit, thet YT influencers/advisors promote, it’s already too late, if you buy, you’ll buy high, just before they sale.

DO NOT EVER, invest money that you do not have or, are for bills, life, presents for your kids, for your holidays etc

FOMO is real and is hard. If you feel like you FOMO, try, please try not to buy, just wait for the dip, it will come soon.

If it comes to pump and dump on Telegram or other medium, sign up, but on the first one, Don’t participate, just watch how it goes. Only those who run it, walk away with money.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/flowers_at_dusk on 2023-12-18 13:17:02+00:00.

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The original was posted on /r/cryptocurrency by /u/flowers_at_dusk on 2023-12-18 13:17:02+00:00.

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The original was posted on /r/cryptocurrency by /u/drjacks on 2023-12-18 11:44:19+00:00.

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The original was posted on /r/cryptocurrency by /u/drjacks on 2023-12-18 11:44:19+00:00.

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The original was posted on /r/cryptocurrency by /u/CEAL_scope on 2023-12-18 11:28:08+00:00.

Im quite new here in the dex space so i have a question. Lets take the following scenario. You have an account on binance send SOL to phantom wallet and go on exchanges such as orca and raydium to buy some shitcoins. Can your binance wallet be drained by buying scammy shitcoins tokens on raydium and orca? And can the phantom wallet be drained or/ and binance cex wallet by buying some scammy coins on orca/ raydium?

Could you explain how and why this could happen if it can?

Also are raydium and orca trustworthy?

Thank you!

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The original was posted on /r/cryptocurrency by /u/hodlr2380 on 2023-12-18 10:55:54+00:00.

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The original was posted on /r/cryptocurrency by /u/gr8ful4 on 2023-12-18 09:43:11+00:00.

BTC's price as an indication for the wider market ran into the channel resistance at $44k. Two weeks later, we now have a confirmed weekly move that suggests that price will test the low 30s over the coming months.

As always even blue chips like ETH and BTC were pumping like crazy while Monero stayed relatively stable. Now that the prices for these big coins comes down again it is time for Monero to show it's incredible stability skills as it keeps its price in USD.

While the ratios went down during the pump it now starts to return to its mean.

Monero is the ultimate decentralized stablecoin. And it's much more secure and private and fungible than USDT.

And sorry to you Bitcoin bros, but when it comes to keeping its value, no coin does it better than Monero.

Monero may not have the pumpamentals that make BTC and other coins interesting for speculation, but it's a true store of value.

Also I wouldn't use any other coin than Monero for every day life, because privacy matters to me.

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The original was posted on /r/cryptocurrency by /u/monchimer on 2023-12-18 09:30:34+00:00.

I would like you to explain to me what I am missing here. I see many BTC maximalists claiming that BTC is the only real coin and that ETH is broken and centralized. In my experience:

• The decentralization of BTC can be compared to the decentralization of ETH. Prove me wrong.
• Complaints about transaction prices: Simple token/ETH transactions, in my experience, are cheaper and faster than BTC. Of course, running a complex Smart Contract may end up costing a significant sum. However, general simple L1 transactions are only a couple of bucks. In contrast, BTC transactions are more expensive and painfully slow. It's amusing how people complain about the cost of a Smart Contract platform performing complex operations, while ignoring the fact that a simple BTC ledger append sometimes takes hours to confirm for twice the price.

BTC average transaction fee in USD: link

ETH average transaction fee in USD: link

• The argument that BTC is a store of value is nonsense. This comes from the fact that it has demand and is scarce. So does ETH. Why is ETH not considered a successful store of value as well? It is becoming even scarcer than BTC, even taking into account halvings. Still, I consider it a weak point for BTC technology, considering that it failed as digital money, and the community was urged to find an explanation for its intrinsic value.
• Evolution / Scaling issues: People occasionally complain about ETH not scaling. That's funny to me. ETH has been evolving over the years, and there are still many things to come, including scalability. Meanwhile, the lightning network for BTC is subpar to say the least. I know it, you know it, everybody knows it. Nobody uses it. Unlike ETH, BTC is incredibly limited in terms of technological evolution. Nothing new has come in th last five years
• Most importantly, the technology: If you own BTC, your only hope is to hold and wait for the price to go up, rush to Coinbase, and make some gains. It is impossible to run any business on it. Its sole purpose is to sit on a cold wallet and wait. The most exciting thing that could happen to a BTC owner is some "BTC super platinum" fork.

In summary, am I missing some critical aspect of BTC that makes it so exciting and incredibly superior to a Smart Contract platform? Dot tell me "they are two separate worlds" because ETH can operate exaclty like BTC does. I honestly don't understand BTC maximalists. Really? Anything other than Bitcoin is considered worthless? In my mind, Bitcoin is great. It shows that blockchain works, is borderless, public, and transparent, and it was the initial proof of concept that proved the point. Now let's build something useful. Something that could potentially create new businesses, new interactions, new ways of generating growth, and empowering people over intermediaries. And ETH happens to be the most mature Smart Contract platform.

TL;DR: Bitcoin is great, but Ethereum outperforms Bitcoin in every aspect, offering more functionality, efficiency, and cost-effectiveness. Why still so many BTC maxis ?

Edit: And Proof of Stake is a better consensus algo. Period.

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The original was posted on /r/cryptocurrency by /u/Josef12344 on 2023-12-18 04:50:04+00:00.

I'm a very small Bitcoin miner and HODLer, and recently I've been noticing that a lot of the bitcoin I have been receiving has been from transaction fees.

Bitcoin transaction fees are high because of Ordinals, meaning the halving could be softer for miners.

According to the average block reward over the last 7 days has been 8.27, so we know that the reward from fees is 8.27-6.25 = 2.02 BTC

Assuming people are willing to pay the same fees after the halving, 2.02 + 3.125 = 5.145 BTC per block, and 5.145/8.27 = 0.62 which is much softer than a halving, but the ordinal market could also grow, causing even more transaction fees.

This is important because it demonstrates that Bitcoin can continue without depending on inflation. Transaction fees will be sufficient to keep Bitcoin decentralized, and strong

A lot of the Bitcoin I have been earning from my personal S19K pro, has been from transaction fees -

The 2nd column is total, the third is new bitcoin created, and the 4th is transaction fees (I had some downtime on the 14th) I HODL l all the Satoshis I mine, and pay my electrical out-of-pocket, so I'm pretty much just buying bitcoin at $19k right now

Some may argue that ordinals are bad, but I disagree, high fees will promote lightning adoption, and the Bitcoin network will become dependent on people bidding for block space (which is preferred, over inflation) people need the ability to bid for block space in a free and fair market.

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The original was posted on /r/cryptocurrency by /u/MakeItRelevant on 2023-12-18 04:48:35+00:00.

Everyone is familiar with Depin and its projects. The top 3 in the market cap (for now) are Vet, Hnt, and Iota. All of them are somehow related to 6G. The technology isnt here yet. Some papers (e.g.: "A speculative study on 6G" from IEEE in 2020) mention around 8 years to fully enable 6g. Rolling back in time, I found articles saying the same thing for AI when the hype hadnt ever started.

I hold all of them (about 50% of my Depin portfolio) in addition to Iotx and Xyo. I also have Ade (Weaver Labs) which I got on their first pre-sale. Got interested after seeing they deploying several 5G private networks in Liverpool. They are also working on the "6G shift".

Well, Helium had its problems. No doubt about it. But the project still has the largest LoRaWAN network in the world and it has been going up 250% in the last 30 days. Can it last?

I found an academic article about Blockchain and 6G that mentions Iota (I'll not post links, so the DOI is 10.1109/PIMRC54779.2022.9978121 if you want to read). In its abstract, it says: "This study aims to provide a framework for a smart contract-based inter-provider agreement leveraging IOTA Tangle". Pretty interesting article.

Even though its full deployment may take a while, the benefits of 6G are outstanding. Ultra-low latency, improved coverage, higher data speeds, better connectivity. This can boost many trends and applications.

So, my question is very simple. Can DePin/6G be the next big trend or is still too early to take any position?

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The original was posted on /r/cryptocurrency by /u/Josef12344 on 2023-12-18 04:50:04+00:00.

I'm a very small Bitcoin miner and HODLer, and recently I've been noticing that a lot of the bitcoin I have been receiving has been from transaction fees.

Bitcoin transaction fees are high because of Ordinals, meaning the halving could be softer for miners.

According to the average block reward over the last 7 days has been 8.27, so we know that the reward from fees is 8.27-6.25 = 2.02 BTC

Assuming people are willing to pay the same fees after the halving, 2.02 + 3.125 = 5.145 BTC per block, and 5.145/8.27 = 0.62 which is much softer than a halving, but the ordinal market could also grow, causing even more transaction fees.

This is important because it demonstrates that Bitcoin can continue without depending on inflation. Transaction fees will be sufficient to keep Bitcoin decentralized, and strong

A lot of the Bitcoin I have been earning from my personal S19K pro, has been from transaction fees -

The 2nd column is total, the third is new bitcoin created, and the 4th is transaction fees (I had some downtime on the 14th) I HODL l all the Satoshis I mine, and pay my electrical out-of-pocket, so I'm pretty much just buying bitcoin at $19k right now

Some may argue that ordinals are bad, but I disagree, high fees will promote lightning adoption, and the Bitcoin network will become dependent on people bidding for block space (which is preferred, over inflation) people need the ability to bid for block space in a free and fair market.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Sealyy on 2023-12-18 04:25:13+00:00.

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The original was posted on /r/cryptocurrency by /u/MakeItRelevant on 2023-12-18 04:48:35+00:00.

Everyone is familiar with Depin and its projects. The top 3 in the market cap (for now) are Vet, Hnt, and Iota. All of them are somehow related to 6G. The technology isnt here yet. Some papers (e.g.: "A speculative study on 6G" from IEEE in 2020) mention around 8 years to fully enable 6g. Rolling back in time, I found articles saying the same thing for AI when the hype hadnt ever started.

I hold all of them (about 50% of my Depin portfolio) in addition to Iotx and Xyo. I also have Ade (Weaver Labs) which I got on their first pre-sale. Got interested after seeing they deploying several 5G private networks in Liverpool. They are also working on the "6G shift".

Well, Helium had its problems. No doubt about it. But the project still has the largest LoRaWAN network in the world and it has been going up 250% in the last 30 days. Can it last?

I found an academic article about Blockchain and 6G that mentions Iota (I'll not post links, so the DOI is 10.1109/PIMRC54779.2022.9978121 if you want to read). In its abstract, it says: "This study aims to provide a framework for a smart contract-based inter-provider agreement leveraging IOTA Tangle". Pretty interesting article.

Even though its full deployment may take a while, the benefits of 6G are outstanding. Ultra-low latency, improved coverage, higher data speeds, better connectivity. This can boost many trends and applications.

So, my question is very simple. Can DePin/6G be the next big trend or is still too early to take any position?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Sealyy on 2023-12-18 04:25:13+00:00.

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The original was posted on /r/cryptocurrency by /u/SpaceBrigadeVHS on 2023-12-18 04:05:29+00:00.

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The original was posted on /r/cryptocurrency by /u/SpaceBrigadeVHS on 2023-12-18 04:05:29+00:00.

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The original was posted on /r/cryptocurrency by /u/SpaceBrigadeVHS on 2023-12-18 04:02:03+00:00.

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The original was posted on /r/cryptocurrency by /u/Ul-thane on 2023-12-18 03:49:32+00:00.

So hypothetical question here, but I see countless portfolio guides on YouTube and Discord that are just purely opinion videos, all trying to convince you which alt/shitcoin is the best. It's usually 50% BTC/ETH, then x% in each sector. For a higher portfolio value I can see why that might be suggested. But for $1000, I feel like I would either take the safer option and going all into BTC and ETH, or just BTC and store it in a hardware wallet, no faffing about with alts because gas fees are going to eat up a healthy amount of that anyway for storage if you're buying a plethora of coins.

My goal has always been to get to a point that I own 1 full ETH, I've not had many exact goals but this is one of them.

I'd love to hear everyone else's opinions on this.

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The original was posted on /r/cryptocurrency by /u/SpaceBrigadeVHS on 2023-12-18 04:02:03+00:00.

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The original was posted on /r/cryptocurrency by /u/pbx1123 on 2023-12-18 03:39:11+00:00.

How they want people trust their money with banks?

A check from the goverment

I dont even think about a regular joe doing a land scape job or something and this happen

They are pushing people use crypto more than never

Looks like chase and friends dont want money from us the commun people anymore, they have too many

They acept only from big companies and no so trusted undergound groups with malicious activities

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The original was posted on /r/cryptocurrency by /u/Ul-thane on 2023-12-18 03:49:32+00:00.

So hypothetical question here, but I see countless portfolio guides on YouTube and Discord that are just purely opinion videos, all trying to convince you which alt/shitcoin is the best. It's usually 50% BTC/ETH, then x% in each sector. For a higher portfolio value I can see why that might be suggested. But for $1000, I feel like I would either take the safer option and going all into BTC and ETH, or just BTC and store it in a hardware wallet, no faffing about with alts because gas fees are going to eat up a healthy amount of that anyway for storage if you're buying a plethora of coins.

My goal has always been to get to a point that I own 1 full ETH, I've not had many exact goals but this is one of them.

I'd love to hear everyone else's opinions on this.