Cryptocurrency News & Discussion

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The original was posted on /r/cryptocurrency by /u/d3jok3r on 2023-12-08 10:34:24+00:00.

The following is taken directly from John Wood, CTO of Algorand Foundation. What do you think? Do you think this will help onboard the next millions of developers to blockchain technology?

"This Monday we'll release a developer preview of Python on Algorand.

It's taken over a year to build, with a multidisciplinary team of god-tier engineers - I'm proud of their work.

Python's simplicity brings inclusivity and drastically lowers engineering costs. Now anyone can build apps on Algorand using one of the most popular and powerful languages on Earth.

On a personal note, I think this is a watershed moment for Algorand. It was always great tech, now it's accessible.

Enjoy the preview, Production public release in February 2024 as part of AlgoKit 2.0."

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The original was posted on /r/cryptocurrency by /u/Strawberry_666 on 2023-12-08 09:56:00+00:00.

I hear a lot of excited about the tokenisation of real world assets. Yeah it would be fun to divide a piece of real estate into a million tokens and trade them on your favourite dex globally.

After reading the book called "The Great Taking", I'm beginning to wonder if RWA tokenisation is not some kind of a Trojan horse, whereby a potential scenario can take place;

• RWA's become mainstream and people start tokenising all sorts of things

• "Big players" enter and scoop up RWA tokens during bear market

If we look at what's happening with the real estate markets, this alarming trend is picking up speed - people are being priced out of the market because "big players" are gobbling up homes just to rent them back to you. Could the same happen with RWA's?

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The original was posted on /r/cryptocurrency by /u/d3jok3r on 2023-12-08 10:34:24+00:00.

The following is taken directly from John Wood, CTO of Algorand Foundation. What do you think? Do you think this will help onboard the next millions of developers to blockchain technology?

"This Monday we'll release a developer preview of Python on Algorand.

It's taken over a year to build, with a multidisciplinary team of god-tier engineers - I'm proud of their work.

Python's simplicity brings inclusivity and drastically lowers engineering costs. Now anyone can build apps on Algorand using one of the most popular and powerful languages on Earth.

On a personal note, I think this is a watershed moment for Algorand. It was always great tech, now it's accessible.

Enjoy the preview, Production public release in February 2024 as part of AlgoKit 2.0."

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The original was posted on /r/cryptocurrency by /u/Nielscorn on 2023-12-08 06:01:47+00:00.

I sell medium to high value product and would like to offer the possibility for people to use bitcoin or other specific coins like SOL, ETH, … to buy these.

For my business however I want to convert these then immediatly to fiat.

Is there any best practices or is it just receive the crypto, sell it immediately on an exchange and withdraw the fiat from the exchange to my bank account and voila it’s converted?

I’m not new to crypto, I am new to making it functional for real world use/transactions however.

Any advice would be appreciated. I do not accept private messages or chat requests. Please keep the discussion here

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The original was posted on /r/cryptocurrency by /u/kirtash93 on 2023-12-08 08:39:10+00:00.

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The original was posted on /r/cryptocurrency by /u/As03 on 2023-12-08 07:11:15+00:00.

The article explores the evolving culture surrounding Bitcoin and argues against the emergence of what the author calls a "Bitcoin cult." The author observes that the definition of a "Bitcoiner" has become increasingly narrow, with enthusiasts and skeptics alike using the term "cult" to describe this community. The article contends that while it's possible to appreciate Bitcoin without revering it, a growing number of enthusiasts have adopted a more tribal and uncompromising stance, simplifying their narrative to "Orange coin good. Everything else bad."

The author challenges the idea that Bitcoin has a distinct culture, emphasizing that Bitcoin is meant to be neutral, open to anyone regardless of their political beliefs, dietary choices, or other personal preferences. The article argues that those who construct a so-called Bitcoin culture are more interested in finding like-minded individuals for communal role-playing (LARPing) than in genuinely advancing the cause of Bitcoin.

A key point raised is the notion of "immanentizing the eschaton," suggesting that some Bitcoin enthusiasts focus more on enforcing their version of Bitcoin orthodoxy than on promoting the adoption of Bitcoin itself. The article contends that Bitcoin maximalists often oppose developments that would make Bitcoin more accessible, comparing this resistance to historical instances where religious leaders sought to maintain control over their doctrines.

The author reflects on personal experiences within the Bitcoin industry, highlighting instances where expressing dissenting views led to social exclusion and professional consequences. The article suggests that the Bitcoin cultists, who vehemently defend their version of Bitcoin orthodoxy, are more concerned with maintaining exclusivity and a sense of elitism than with facilitating widespread adoption.

The piece concludes by emphasizing that not every Bitcoin enthusiast is a cultist, but the dominance of the cultist narrative has caused many, including the author, to distance themselves from the term "Bitcoiner." The author contends that challenging the orthodoxy of the Bitcoin cult does not threaten Bitcoin itself but poses a risk to the cultists' narrative, as a universally adopted Bitcoin would render the term "Bitcoiner" devoid of meaning.

In essence, the article critiques the tribal and exclusive tendencies within certain segments of the Bitcoin community, arguing for a more inclusive and diverse approach to foster genuine adoption and understanding of the cryptocurrency.

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The original was posted on /r/cryptocurrency by /u/Shiratori-3 on 2023-12-08 05:34:41+00:00.

It's the time of year for trend picks.

Inb4 bitchy comments about VCs and TradFi - and worth maybe taking a look through the views if following the money rings a bell for you.

a16z

• Entering a new era of decentralization
• Resetting the UX of the future
• The rise of the modular tech stack
• AI + blockchains come together
• Play to earn becomes play and earn
• When AI becomes the gamemaker, crypto offers guarantees
• Formal verification becomes less, well, formal
• NFTs become ubiquitous brand assets
• SNARKs go mainstream

VanEck * US recession but low impact on Bitcoin * BTC ATH in Q4 2024 * No ETH flipping, but it will outperfiem tech stocks * L2 capture of EVM TVL * NFT rebound * Binance loses top spot * Stablecoin highs * DEX highs * BTC remittance boost, + staking? * Gaming breakout * SOL growth * Accounting standards -> corporate crypto growth * Rise of KYC defi

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The original was posted on /r/cryptocurrency by /u/ricking08 on 2023-12-08 08:25:17+00:00.

This title sums it up alright. I was defending SOL not 6 months back when it hit $9,- I kept faith and my faith made me stock up and wait out the crap that the market brought this beautiful crypto.

A few of you were rude, so over confident and so sure of themselves...that they missed out on yet another surge of SOL.

So here is to those of you who were rude, obnoxious and arrogant towards all the pro-SOL members! Cheers! Everytime I see your names commenting on this s sub I smirk and know that you absolutely have no clue what you are talking about. I have named you Polly's...the group of amateur crypto noobs that only parrot what others say.

For reference: I know shit about fuck, but at least I dyor before talking crap. Now give me those downvotes!

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The original was posted on /r/cryptocurrency by /u/otronegro on 2023-12-07 18:23:24+00:00.

It's circulation is foreseen to start by the end of 2024.

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The original was posted on /r/cryptocurrency by /u/badfishbeefcake on 2023-12-07 18:20:16+00:00.

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The original was posted on /r/cryptocurrency by /u/poyoso on 2023-12-07 17:28:46+00:00.

I have the Reddit app in two mobile devices. Until recently only one of them had access to the seed phrase while the other device prompted me to enter the seed if I wanted to access the Vault. Now suddenly this other device has access to my seed phrase. I can see it in the Vault section where previously I could not.

My cloud storage is turned off for both devices and I haven’t backed up my seed phrase through Reddit before. So did the Reddit Vault suddenly become a custodian wallet? Does that mean that anyone who just logs in to my account can now access my seed phrase?

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The original was posted on /r/cryptocurrency by /u/reddittor on 2023-12-07 17:27:17+00:00.

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The original was posted on /r/cryptocurrency by /u/MoonOverBTC on 2023-12-07 16:43:04+00:00.

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The original was posted on /r/cryptocurrency by /u/flowers_at_dusk on 2023-12-07 14:41:17+00:00.

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The original was posted on /r/cryptocurrency by /u/gr8ful4 on 2023-12-07 14:31:38+00:00.

Binance, HTX, OKX, Poloniex aka "The CartelTM" sit on a pile of naked Monero shorts. How and where do they plan to cover those shorts? There's almost no liquidity left on their exchanges and they are doing most of the (wash) trading themselves. So no way to unwind their naked short position?

The market seems dry as fuck and price is slowly moving against their positions. Creating the perfect conditions for a huge short squeeze and an insolvency wave within unregulated exchanges.

CZ gone (you can not borrow XMR on Binance but you can use it as collateral). Justin playing the "hacked" card for both his exchanges (HTX & Poloniex no XMR withdrawals) and OKX (temporarily deactivating XMR withdrawals while keeping deposits open).

If you still use one of those exchanges (if they let you) for trading not to speak of storage you are doing it wrong and you are going to lose it all.

It seems like we are at the end of an era.

Across the board order books on the above exchanges are empty or rapidly shrinking (Binance). Also other CEX like Kraken, Bitfinex and KuCoin are empty as well, so this time there is no way to cover their shorts by attracting coins from other exchanges.

Prepare yourself for some tectonic movements.

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The original was posted on /r/cryptocurrency by /u/somehowtrain902 on 2023-12-07 14:05:18+00:00.

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The original was posted on /r/cryptocurrency by /u/chintokkong on 2023-12-07 13:48:17+00:00.

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The original was posted on /r/cryptocurrency by /u/raphaiki on 2023-12-07 13:21:02+00:00.

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The original was posted on /r/cryptocurrency by /u/fonzdm on 2023-12-07 13:05:38+00:00.

Hi all.

Little question about the Lightning Network and how to use it to save fees.

I usually buy BTC on Kraken and withdraw to my wallet using mainnet. Of course, I pay a huge fee (sometimes more than 5 bucks) when withdrawing, and this is not convenient for periodic buys.

With Kraken (and I assume, with other CEXs too), I can withdraw using the LN for almost no fees.

What I'm missing is: how can I receive those BTC using LN and how do I "settle" on the mainnet (for example, after a certain amount or when fees are low)?

I setup a LN compatible wallet (Phoenix) and I see I can create an invoice. But what I'm missing is, do I have to create a channel with Kraken somehow? Do I have to put BTC in LN before being able to receive them from Kraken? And then, assuming I was able to do everything, how can I consolidate everything on my main wallet on the Bitcoin blockchain itself?

I'm used to Eth L2 solution but I have difficulties with this one.

Thanks in advance!

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The original was posted on /r/cryptocurrency by /u/Strawberry_666 on 2023-12-07 11:32:28+00:00.

I'm just thinking out loud ...

So, what if after the Bitcoin ETF passes ( let's not kid ourselves, it WILL pass ), the "big players" will bring their bag of tricks and start screwing around with the 4 year cycle?

I keep hearing that the ETF is a good thing. Looking back at what it did to the gold price, I see the wisdom in this, but crypto is a whole different beast.

The whole point is to have self custody of your own assets - taking full responsibility over your finances. Not many boomers are ready to do it. Whenever I talk to "normies", they are still drinking the Kool-aid and neatly storing their savings in banks.

So, I'm wondering, when the ETF comes, will it completely invalidate the 4 year cycle as we know it - making crypto more volatile and unpredictable due to manipulation?

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The original was posted on /r/cryptocurrency by /u/LoquaciousLethologic on 2023-12-08 04:21:40+00:00.

Just shy of 18 months, but decided to go look at and update the portfolio today. Been buying crypto regularly since June 15th 2022 after that first crash. Pretty much ran out of cash a couple months ago. Now I just put a little in every week from my paychecks.

This was not true DCA because I was not buying the same crypto every time, but essentially buying the same fiat value every time. I certainly made some mistakes through the bear market, which I will show through my current ROI later.

Main mistake is that it would have benefitted myself more to just have bought BTC through the second half of 2022 and to have waited to buy altcoins when BTC began to pump at the beginning of 2023. When I run numbers on what I put into my portfolio and adjust towards BTC my total ROI today always ends up higher.

My second mistake is that I put too many large lump sum purchases in during 2022, and should have waited to buy more altcoins till 2023. This has lowered my ROI across the board.

Essentially, from June 15th 2022 through January 15th 2023 I should have made regular BTC purchases. Then through 2023 I should have raised the weekly purchase amounts and bought more and more altcoins as well. This would not mean that EVERY altcoin would have a higher ROI, but that my average ROI across all coins would be much higher.

Regardless, I am not going to beat myself up over not 'doing my best' when I'm doing good. Now the numbers.

Bitcoin is literally over 100% ROI for me right now with the price over $40k. I am extremely grateful to past me for DCAing, for buying the FTX crash, and not letting up even though it was sometimes really difficult and/or scary. If I had focused on BTC more in 2022 my ROI could be over 120%, but I am happy with where I got.

Ethereum is at 55% right now, which is good. I certainly spaced out purchases for it and it ended up okay, but I need to accrue more so I fear the ROI will suffer a little.

Top winners currently are Solana, at 197%, and Chainlink at 113%. I will forever remember people in this subreddit bashing me for buying some SOL at $8 which really brought my average down. Thanks doubters.

Only alts still down for me are KDA, EGLD, MATIC and a couple degen plays. KDA has high inflation and I plan to buy more and more through the BTC halving. MATIC kind of surprises me because of how much it was loved before and how well it held during the crashes till this year. But this is one coin that proves waiting till 2023 would have been the safer option. Range is only -6 through -22% for all my negatives.

Everything else in the pot is 1-38% up.

Any altcoins I bought since Q2 of 2023 are up. GFI, AVT, FLUX, and a handful more. 62-251% up for all of them. Strong case for waiting till 2023.

It is more difficult to see how much in profits my portfolio is (as there is some shuffling that occurs), but I believe I am over 25% in profits overall (again, supporting buying more BTC early on instead of alts).

I plan to buy more, but a Bitcoin spot ETF approval will likely launch the market higher and higher. At some point I'll stop buying and start selling. Likely I'll continue to expand on my altcoin portfolio, and may pick up a few more coins during the first half of 2024.

For exit strategy if we pass the halving, ETFs are approved, and the market keeps moving up much more than before then I may hold off on selling anything till I reach 900% ROI individually. At that point a 10% sale to take back my principle would be ideal. Tentatively I hope to sell a considerable amount of my crypto, especially the degen plays, while holding some coins long-term, and sitting on profits to buy back in later.

I think it would be fair for anyone to wait 12 months after the halving to sell out. Or, to wait for any crypto to 3x their former market cap ATH (not their former price ATH). But there is no guarantee for alts to reach former ATHs, so everyone really should think about their holdings and decide for themselves.

Still not too late to buy in guys! The 12k Bitcoin bros are salty. If BTC proves its theory correct and is the only asset/currency we currently have in existence that will always accrue value cycle after cycle, then buying now is a no-brainer. It's either now at 40k, or next year at 100k, or 2025 at 250k, or later at half a million, then a million, etc.... Just buy a little, keep an emergency fund, stop trying to sell crypto to everyone around you, and enjoy making generational wealth. Best of luck!

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The original was posted on /r/cryptocurrency by /u/FitScore3115 on 2023-12-08 04:20:38+00:00.

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The original was posted on /r/cryptocurrency by /u/BreakingGood on 2023-12-08 04:08:15+00:00.

I'm sure everybody is aware we are in a solid bull run right now, and there's really not many ways to go wrong with Crypto right now. It's a strong investment with strong gains and moon potential all over the market. We've all been looking for indicators on just how the bull market can go. There are influential individuals such as Mr. Linneman that have confirmed the bull run will break 80k by end of year, and that this is just the beginning.

In 2016 we saw huge price jumps to ATH, and then the ATH in 2021 made those gains look like pennies. The masses are getting in. The general public is getting their money in, liquidity is flowing, and crypto stocks are some of the hottest on the market.

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The original was posted on /r/cryptocurrency by /u/MichaelRedwork on 2023-12-08 04:58:31+00:00.

I have had my crypto on Coinbase for about 2 years. Recently I bought a ledger nano x because to go "cold" because people say it is dangerous to have it on Coinbase online. I haven't moved any crypto yet because I am now questioning things.

On one hand, Coinbase seems quite trustworthy and safe. If something catastrophic happened, like a major hacking, there is a small chance I could get some funds back somehow or another.

On the other hand, people say it is dangerous to have it online, which I understand. But there is a current scare with ledger that can't be ignored. With a cold wallet like that you can't have trust issues. If something happens, like I've heard has happened, with misplaced funds or the sort, it seems like I have a 0% chance of getting it back.

I have 14 days to consider before my return window closes for the ledger.

I'd really like an opinion. Thanks

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The original was posted on /r/cryptocurrency by /u/LoquaciousLethologic on 2023-12-08 04:21:40+00:00.

Just shy of 18 months, but decided to go look at and update the portfolio today. Been buying crypto regularly since June 15th 2022 after that first crash. Pretty much ran out of cash a couple months ago. Now I just put a little in every week from my paychecks.

This was not true DCA because I was not buying the same crypto every time, but essentially buying the same fiat value every time. I certainly made some mistakes through the bear market, which I will show through my current ROI later.

Main mistake is that it would have benefitted myself more to just have bought BTC through the second half of 2022 and to have waited to buy altcoins when BTC began to pump at the beginning of 2023. When I run numbers on what I put into my portfolio and adjust towards BTC my total ROI today always ends up higher.

My second mistake is that I put too many large lump sum purchases in during 2022, and should have waited to buy more altcoins till 2023. This has lowered my ROI across the board.

Essentially, from June 15th 2022 through January 15th 2023 I should have made regular BTC purchases. Then through 2023 I should have raised the weekly purchase amounts and bought more and more altcoins as well. This would not mean that EVERY altcoin would have a higher ROI, but that my average ROI across all coins would be much higher.

Regardless, I am not going to beat myself up over not 'doing my best' when I'm doing good. Now the numbers.

Bitcoin is literally over 100% ROI for me right now with the price over $40k. I am extremely grateful to past me for DCAing, for buying the FTX crash, and not letting up even though it was sometimes really difficult and/or scary. If I had focused on BTC more in 2022 my ROI could be over 120%, but I am happy with where I got.

Ethereum is at 55% right now, which is good. I certainly spaced out purchases for it and it ended up okay, but I need to accrue more so I fear the ROI will suffer a little.

Top winners currently are Solana, at 197%, and Chainlink at 113%. I will forever remember people in this subreddit bashing me for buying some SOL at $8 which really brought my average down. Thanks doubters.

Only alts still down for me are KDA, EGLD, MATIC and a couple degen plays. KDA has high inflation and I plan to buy more and more through the BTC halving. MATIC kind of surprises me because of how much it was loved before and how well it held during the crashes till this year. But this is one coin that proves waiting till 2023 would have been the safer option. Range is only -6 through -22% for all my negatives.

Everything else in the pot is 1-38% up.

Any altcoins I bought since Q2 of 2023 are up. GFI, AVT, FLUX, and a handful more. 62-251% up for all of them. Strong case for waiting till 2023.

It is more difficult to see how much in profits my portfolio is (as there is some shuffling that occurs), but I believe I am over 25% in profits overall (again, supporting buying more BTC early on instead of alts).

I plan to buy more, but a Bitcoin spot ETF approval will likely launch the market higher and higher. At some point I'll stop buying and start selling. Likely I'll continue to expand on my altcoin portfolio, and may pick up a few more coins during the first half of 2024.

For exit strategy if we pass the halving, ETFs are approved, and the market keeps moving up much more than before then I may hold off on selling anything till I reach 900% ROI individually. At that point a 10% sale to take back my principle would be ideal. Tentatively I hope to sell a considerable amount of my crypto, especially the degen plays, while holding some coins long-term, and sitting on profits to buy back in later.

I think it would be fair for anyone to wait 12 months after the halving to sell out. Or, to wait for any crypto to 3x their former market cap ATH (not their former price ATH). But there is no guarantee for alts to reach former ATHs, so everyone really should think about their holdings and decide for themselves.

Still not too late to buy in guys! The 12k Bitcoin bros are salty. If BTC proves its theory correct and is the only asset/currency we currently have in existence that will always accrue value cycle after cycle, then buying now is a no-brainer. It's either now at 40k, or next year at 100k, or 2025 at 250k, or later at half a million, then a million, etc.... Just buy a little, keep an emergency fund, stop trying to sell crypto to everyone around you, and enjoy making generational wealth. Best of luck!