Cryptocurrency News & Discussion

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The original was posted on /r/cryptocurrency by /u/Always_Question on 2023-12-16 06:59:30+00:00.

So, this is odd. For those who don’t know, this last summer Curve suffered a major hack due to a compiler bug. Curve has since recovered a large majority of the funds from the hackers. Initially, they promised that funds would be returned to the LP/users. After quite long delays with no updates, they finally tweeted today that “Not everyone is happy to refund the hack loss.” Wait what? So Curve recovers most of the hacked funds and now wants to hold a DAO vote (by voters many of whom were not impacted by the hack) on whether to return funds to users—funds that Curve have already recovered?

Not cool Curve. Not cool.

Reference tweet: twitter.com/CurveFinance/status/1735713571420438809

TLDR: Curve recovered hacked funds and now may not even return the funds to users

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The original was posted on /r/cryptocurrency by /u/robeewankenobee on 2023-12-16 06:29:27+00:00.

I've been using Eth and all the options that run alongside Erc-20 compatibility, like Polygon. Had some SAND since 2021 bull, staked.

Here's the problem ... Eth is simply to expensive to operate for the random people. Obviously i made use of small amounts until i understood exactly how everything works, but hear me out. Unless you're staking at least a few K's of Matic (at least 3k), the staking mechanism is happening on Erc-20 (mainet), so at withdrawal, you end up paying in fees all your gains 😉.

Now, tried the same on SAND via the native portal, they have a bridge and all that, easy to use, only Metamask needed, also they offer 10 feeless withdrawals of rewards , which is ok ... that's until you want to withdraw the whole amount when you realise that the withdraw fee plus the bridge fees is arround 80 bucks (30 the withdraw request + 50 the bridge fee to bring it back on Ethereum Mainet).

I guess the point is, if you don't have at least a few K's of anything, on L2's the low fee cost is literally irelevant because either the stake must happen on the Mainet token , like Polygon Matic (you can't stake it from Polygon), or the SAND token , which can only be staked from Polygon but the fee to bridge back to Mainet is absolutely Ridiculous:)) , it's funny how expensive this is and i'm in west Europe (out of all places).

Now, I tried all that, with the respective native tokens on Cardano or Algorand ... sorry but it's simply a different game on these L1's, everything is cheap and instant.

If you want a direct comparison, AGIX (SingularityNet.io token) can be staked on Erc-20 and Cardano ... oh boy, you don't want to know the difference if you're a Eth maxi.

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The original was posted on /r/cryptocurrency by /u/Wildarmtin on 2023-12-16 07:43:29+00:00.

So with all the new Ledger fud floating around, I'm starting to think having a large exchange as custodian of my coins, may not be the worst thing in the world.

If Coinbase is good enough for Blackrock, then surely they'll be able to keep my stack safe, right? With "non-sim" 2fa activated, I'd imagine it's equally as safe as Ledger at this point. No dodgy fishing NFTs being sent to my Polygon wallet (I have literally hundreds at this point), no "drainers", no fake Ledger live apps.....

Am I right or is there something I'm missing?

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The original was posted on /r/cryptocurrency by /u/CasinoLand on 2023-12-16 05:43:49+00:00.

Sometimes when I talk to my friends about Bitcoins and crypto, a lot of people seem not to understand the difference between price and value.

I have couple of friends who are on sidelines, and still haven't decided whether they are going to invest or not. I'm not trying to convince them, but I typically outline the most important aspects for me, explaining why I invested, and those are :

1. Limited supply. This alone is the game changer for the world where literally all fiat currencies devalue over time.
2. Average annual ROI is sitting on 80%, if you hold long enough.
3. Be your own bank. Send the money whenever you want to whoever you want.
4. Store of value. Pretty much the same as (2), just keep it in cold wallet and see it growing.

So, it is really hard for some people to understand the difference between the price and value, when the price is what people are willing to pay for an asset, and the value is the minimum cost of production, i.e. mining.

Is there is a simple way to explain this to people who are not an experts in economy and not really understand how this works?

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The original was posted on /r/cryptocurrency by /u/Always_Question on 2023-12-16 06:59:30+00:00.

So, this is odd. For those who don’t know, this last summer Curve suffered a major hack due to a compiler bug. Curve has since recovered a large majority of the funds from the hackers. Initially, they promised that funds would be returned to the LP/users. After quite long delays with no updates, they finally tweeted today that “Not everyone is happy to refund the hack loss.” Wait what? So Curve recovers most of the hacked funds and now wants to hold a DAO vote (by voters many of whom were not impacted by the hack) on whether to return funds to users—funds that Curve have already recovered?

Not cool Curve. Not cool.

Reference tweet: twitter.com/CurveFinance/status/1735713571420438809

TLDR: Curve recovered hacked funds and now may not even return the funds to users

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/badfishbeefcake on 2023-12-16 05:06:16+00:00.

I dont even know what to say.

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The original was posted on /r/cryptocurrency by /u/robeewankenobee on 2023-12-16 06:29:27+00:00.

I've been using Eth and all the options that run alongside Erc-20 compatibility, like Polygon. Had some SAND since 2021 bull, staked.

Here's the problem ... Eth is simply to expensive to operate for the random people. Obviously i made use of small amounts until i understood exactly how everything works, but hear me out. Unless you're staking at least a few K's of Matic (at least 3k), the staking mechanism is happening on Erc-20 (mainet), so at withdrawal, you end up paying in fees all your gains 😉.

Now, tried the same on SAND via the native portal, they have a bridge and all that, easy to use, only Metamask needed, also they offer 10 feeless withdrawals of rewards , which is ok ... that's until you want to withdraw the whole amount when you realise that the withdraw fee plus the bridge fees is arround 80 bucks (30 the withdraw request + 50 the bridge fee to bring it back on Ethereum Mainet).

I guess the point is, if you don't have at least a few K's of anything, on L2's the low fee cost is literally irelevant because either the stake must happen on the Mainet token , like Polygon Matic (you can't stake it from Polygon), or the SAND token , which can only be staked from Polygon but the fee to bridge back to Mainet is absolutely Ridiculous:)) , it's funny how expensive this is and i'm in west Europe (out of all places).

Now, I tried all that, with the respective native tokens on Cardano or Algorand ... sorry but it's simply a different game on these L1's, everything is cheap and instant.

If you want a direct comparison, AGIX (SingularityNet.io token) can be staked on Erc-20 and Cardano ... oh boy, you don't want to know the difference if you're a Eth maxi.

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The original was posted on /r/cryptocurrency by /u/CasinoLand on 2023-12-16 05:43:49+00:00.

Sometimes when I talk to my friends about Bitcoins and crypto, a lot of people seem not to understand the difference between price and value.

I have couple of friends who are on sidelines, and still haven't decided whether they are going to invest or not. I'm not trying to convince them, but I typically outline the most important aspects for me, explaining why I invested, and those are :

1. Limited supply. This alone is the game changer for the world where literally all fiat currencies devalue over time.
2. Average annual ROI is sitting on 80%, if you hold long enough.
3. Be your own bank. Send the money whenever you want to whoever you want.
4. Store of value. Pretty much the same as (2), just keep it in cold wallet and see it growing.

So, it is really hard for some people to understand the difference between the price and value, when the price is what people are willing to pay for an asset, and the value is the minimum cost of production, i.e. mining.

Is there is a simple way to explain this to people who are not an experts in economy and not really understand how this works?

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The original was posted on /r/cryptocurrency by /u/y0sammy on 2023-12-16 03:09:42+00:00.

I'm British and set up a Korbit account many years ago and forgot about it. Turns out it had some BTC left in it which is now worth about $1000.

Korean regulations state that I can't cashout here (because I'm not a Korean citizen) so I was thinking about sending the BTC to my UK Coinbase account (that I also set up years ago) and cashing out there.

What would be the best way of sending it? Should I just send Korbit BTC account to Coinbase BTC account and cashout? Or would the fees be high? Bear in mind that I'm only transferring for the purpose of withdrawing.

I've been out of the game for a while so I apologize if this all sounds amateurish / obvious.

TIA

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The original was posted on /r/cryptocurrency by /u/sadguy__ on 2023-12-16 00:23:57+00:00.

Today I sold my crypto on binance and tried withdrawing it to my bank account.

Man the process is very exhausting. Having to transfer to coinbase, and then transfer to your own bank account takes a lot of time. Plus all the fees along the way make you lose a lot of money. For example I withdrew $200 USD, and had to pay $50 USD in fees along the way.

Safety ? You have to share all your personal information, along with credit card details on all the apps on the way (binance, zen, coinbase). What if there is a hacker attacks on these apps? How is that safer than banking, Sharing your info on all this apps ?

In the end, crypto is all about avoiding banks and the "guys-in-between", right ? As I heard on some videos. Well how is using three apps to sell your crypto "avoiding guys in between" ? Also the end goal is to sell crypto and transfer the cash to guess where ? To the bank.

So please tell me, how is crypto better than real cash and banking, if in the end your main goal is selling and transfering cash to the bank ?

Arguments like "but you can pay with crypto" also make very little sense right now, because you cant really use crypto in most of the places. You cant buy food or water, or a car or a 2-bedroom house with crypto. At least not in my country.

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The original was posted on /r/cryptocurrency by /u/y0sammy on 2023-12-16 03:09:42+00:00.

I'm British and set up a Korbit account many years ago and forgot about it. Turns out it had some BTC left in it which is now worth about $1000.

Korean regulations state that I can't cashout here (because I'm not a Korean citizen) so I was thinking about sending the BTC to my UK Coinbase account (that I also set up years ago) and cashing out there.

What would be the best way of sending it? Should I just send Korbit BTC account to Coinbase BTC account and cashout? Or would the fees be high? Bear in mind that I'm only transferring for the purpose of withdrawing.

I've been out of the game for a while so I apologize if this all sounds amateurish / obvious.

TIA

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The original was posted on /r/cryptocurrency by /u/CryptoDaily- on 2023-12-16 00:00:34+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.
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The original was posted on /r/cryptocurrency by /u/sadguy__ on 2023-12-16 00:23:57+00:00.

Today I sold my crypto on binance and tried withdrawing it to my bank account.

Man the process is very exhausting. Having to transfer to coinbase, and then transfer to your own bank account takes a lot of time. Plus all the fees along the way make you lose a lot of money. For example I withdrew $200 USD, and had to pay $50 USD in fees along the way.

Safety ? You have to share all your personal information, along with credit card details on all the apps on the way (binance, zen, coinbase). What if there is a hacker attacks on these apps? How is that safer than banking, Sharing your info on all this apps ?

In the end, crypto is all about avoiding banks and the "guys-in-between", right ? As I heard on some videos. Well how is using three apps to sell your crypto "avoiding guys in between" ? Also the end goal is to sell crypto and transfer the cash to guess where ? To the bank.

So please tell me, how is crypto better than real cash and banking, if in the end your main goal is selling and transfering cash to the bank ?

Arguments like "but you can pay with crypto" also make very little sense right now, because you cant really use crypto in most of the places. You cant buy food or water, or a car or a 2-bedroom house with crypto. At least not in my country.

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The original was posted on /r/cryptocurrency by /u/Original-Assistant-8 on 2023-12-15 21:05:33+00:00.

Some of the first fud I knew of in crypto was how SOL would stop and restart, how it is centralized, it's just an eth knockoff. And then the whole SBF drama came and really brought it down. It crossed my mind that it was overblown, but I never dug deeper and looked elsewhere.

Well, it turns out that "fud" was opportunity staring us in the face. And I sensed it, but didn't do the homework.

I know there's some other factors like the bonk craziness, but here's the thing.

Every coin comes with its own set of fud. Some fud is simply made up by people to sabotage a perceived competitive threat to their bag. Eventually reason prevails, so figuring out the fud is not justified is one opportunity.

Some fud may be very accurate, but even that often doesn't matter.

I keep adding QANX because I saw a vision that might solve a lot of the fud that's out there.

But I've had to sort through more fud with that project than I could have ever imagined!

I remember days selling my bag, only to keep researching, and coming back. Usually with more conviction. Heck, they suffered an attack and restored everyone, and since then are looking stronger than ever. They are battle tested. I won't go into detail, but I'm glad I stuck with it.

Point is- don't get mad about fud. It can be opportunity staring right at you. Good luck and I hope the whole space goes up. Cheers

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The original was posted on /r/cryptocurrency by /u/CryptoDaily- on 2023-12-16 00:00:34+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.

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The original was posted on /r/cryptocurrency by /u/Wombeard on 2023-12-15 18:06:33+00:00.

Nothing serious has started yet!

The Bitcoin Rainbow Chart is one of the most famous charts in crypto. It uses a simple logarithmic growth curve to forecast the potential future price direction of Bitcoin. The original chart was made in 2014 and adjusted once in 2014. Since then, the 'Basically a Fire Sale' blue band held and marked the bottom in 2015, 2016, 2019, 2020. And guess where we are at right now!

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The original was posted on /r/cryptocurrency by /u/BidPsychological4960 on 2023-12-15 16:46:39+00:00.

The world's banks run on a very old programming language called "COBOL" (COmmon Business Oriented Language). It was great for its day, offers a lot for banks.

But the language is unpopular among software developers and becoming less popular, and the banks aren't adapting. So you have these old systems that one day, nobody will know how to fix and maintain.

As you might imagine, this is a problem. Shit could go south. Imagine a program spontaneously breaks. And now, maybe you can't pay with your debit card. Maybe you can't use an ATM. I mean, we're talking a sort of financial apocalypse now.

All because the banks won't migrate to a more-widely-used language such as C.

Thankfully, crypto - being based on newer technology - doesn't have that problem. We have lots of developers working on crypto & crypto-adjacent software.

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The original was posted on /r/cryptocurrency by /u/twitterisawesome on 2023-12-15 16:03:48+00:00.

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The original was posted on /r/cryptocurrency by /u/srw on 2023-12-15 15:51:57+00:00.

I am mainly following the Ethereum's account abstraction progress and excited about new features. What other blockchain technologies are based or inspired by Ethereum vision? Thanks!

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The original was posted on /r/cryptocurrency by /u/Ok-Pomegranate-1641 on 2023-12-15 15:39:16+00:00.

Easiest Way To Buy Shitcoins/MemeCoins/AltCoins?

I am fully aware of crypto-exchanges and cryptos such as Bitcoin/Ethereum/Solano etc as I’ve traded them in the past.

My main question that I never can figure out is how to buy shitcoins/memecoins etc. I want to purchase SAMO coin to hold for a little and neither Kraken/Coinbase will allow me too. Do I have to hold them in a cold wallet on my PC?

Just a little confused any help appreciated.

I’m in USA if that helps. Some of the exchanges I’ve tried like Orca or Jupiter don’t seem to accept my “region”, I’m guessing USA customers?

Any help very appreciated, just trying to gain small profits on new cryptos, not hold too long term.

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The original was posted on /r/cryptocurrency by /u/boubou158 on 2023-12-15 14:22:15+00:00.

Dear all,

I am posting to warn any of you regarding the AAVE lending/ borrowing platform.

Users on AAVE harmony still have their funds fully blocked on AAVE and can not withdraw after 18monthes.

They have been waiting so far for 18monthes for some sort of resolution coming from what is known as one of the leader in lending dapps: AAVE.

After finally having some progress, with an involvement from Harmony in the process of compensation for the users, a temperature check was opened:

Users would expect to get back 20% of the stuck funds that they have lent. (10% from Harmony and 10% from AAVE). It is already very few for the users waiting for 18monthes but it gave a little hope to at least recover partially.

Now what happened following this temperature check: it got clearly rejected by AAVE governance with 99.8% NO.

10% to be provided by AAVE represents only 75k USD, for a platform managing 10billions of funds. They would rather ignore their users and not fix the harmony market than providing 75k USD when they are making tens of millions USD profits from the lending/ borrowing.

Their governance seems like a governance willing to approve anything which will make them get more profits (such as agreeing on deploying AAVE on harmony following a vote) but when an issue occurs, no one is here anymore. Their governance seems clearly driven by whales and

hypocritical persons.

So please stay away from them and do not make the same mistake as many users thinking "this is AAVE, it is big, this is safe" because it is not and even worse than smaller applications which would care for their users.

More details here:

Thanks for reading

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The original was posted on /r/cryptocurrency by /u/robman_84 on 2023-12-15 14:06:21+00:00.

I'm curious, and would like some help, about the difference between buying/selling and exchanging. My head is probably stuck in the idea of buying things for FIAT!

Suppose I buy 1,000 stablecoins (assume it's perfectly mapped 1:1 with USD) for $1,000 on an exchange. Let's call them $stable. On the exchange I trade my 1,000 $stable for 100 $coinx, which are 10 $stable each. I think I have neither made a profit nor a loss yet.

$coinx goes up to 11 $stable each, and it looks to me that it might now start to drop, so I trade my 100 $coinx for 1,100 $stable. I think I have made a profit of 100 $stable. Does that sound right?

As always happens, $coinx continues to rise (so I was wrong) and goes up to 12 $stable each. When I realise my mistake, I want back in, exchanging my 1,100 $stable for 91.6 $coinx. I'm not sure if I've made a loss here, as my $coinx are still worth 1,100 $stable.

Of course, $coinx now drops to a rate of 10 $stable each again. Since I don't learn, I trade them back into $stable, giving me 916 $stable. Have I now made a loss? if so, is it 184 $stable? Likewise does this make my net position an 84 $stable loss in terms of the IRS?

I have heard of terms like "cost base" but it's not quite clear to me how that work. I know it's complicated, hence a lot of people just buy and HODL, although a lot of people do also take profits some times!

Many thanks.

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The original was posted on /r/cryptocurrency by /u/krikszkraksz on 2023-12-15 13:37:49+00:00.

I'm doing some research on ASIC miner hardware and would like to know what materials the hardware is actually made of. What I have already found out is that there are quite a few chips on one hashboard and that there are several hashboards. But for the specific ASICs I'm interested in (S19, S19j pro and S19 xp) I can't find any specific trustworthy info on the number of chips, number of hashboards and especially the chip size/DIE area. All I know is which chips are installed in these devices. Does anyone know of any trustworthy or less trustworthy sources?

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The original was posted on /r/cryptocurrency by /u/iamnotapopstar on 2023-12-15 13:24:19+00:00.

I recently received some Bitcoin and am considering converting it into a stablecoin to hedge against potential price volatility. While exploring my options, I came across Tether USD (Omni Layer) as a potential choice.

I'm curious if this is the most reputable and widely-used USD stablecoin available. Are there any better alternatives that I should consider? I'm looking for a stablecoin with a strong track record of maintaining its peg to the USD, reliable audit reports, and widespread acceptance.

Additionally, insights into the pros and cons of using Tether USD or other stablecoins in terms of liquidity, market cap, and platform support would be really helpful.

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The original was posted on /r/cryptocurrency by /u/TNGSystems on 2023-12-14 21:12:36+00:00.

Well, it’s been 6 weeks of total delusion from some of the most ruthlessly disingenuous people in Crypto, but that’s it. after three founders indicted for fraud, and one jailed, the house of cards finally collapses in the faces of all the Safemoon maxis who insisted that the show could go on without the guy who stole all the cash to fund the company.

Enclosed is the bankruptcy letter. The staff and mods don’t even get their last paycheck. Imagine accepting stolen investor money to censor and suppress information on the discord that would help the poor investors minimise their losses.

Safemoon Bankruptcy Letter

What a shitshow. I’ll see y’all in the documentary. ✌️