r/CryptoCurrency 23h ago Carlos award

MOONS 🌕* The First Joint Avatar Mashup Contest for total of 2,000 MOONS sponsored by r/CryptoCurrency and r/AvatarTrading! Starting Monday April 3, 8 pm EDT/ Tuesday April 4, 12 am UTC/ Tuesday April 4, 10 am - ends in a week.

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34 Upvotes

r/CryptoCurrency 3h ago Snek

OFFICIAL Daily General Discussion - April 2, 2023 (GMT+0)

13 Upvotes

Welcome to the Daily General 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 The prior exemption for karma and age requirements is no longer in effect.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.

 

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r/CryptoCurrency 12h ago Helpful (Pro) Gold Crab Rave

PROJECT-UPDATE Arbitrum team is trying to siphon 750 Million tokens from DAO to a slush fund controlled by the team, so that insiders and VCs can cash out while pretending their allocation is "locked"

1.2k Upvotes

So Arbitrum distributed tokens last week and as per their tokenomics, it seemed that the team and VC allocation is locked for a year.

Well, they just made a proposal to grant themselves another 750 Million ARB tokens, worth almost $1 Billion from the DAO. They claim its for an "Administrative Budget Wallet". In reality, it looks like a blatant cash grab. Its the first governance proposal and they aren't even trying to be subtle about siphoning funds out.

Administrative Budget Wallet proposal

Under the disguise of operational and administrative efficiency, they are seeking to transfer 750 million tokens from the DAO to their own pockets, from which they will make "special grants" and what nots.

In crypto, these things almost entirely mean cashing out for real world riches. We have seen thousands of examples of teams cashing out treasury funds. In Arbitrum's case, since the team and VC token allocations are locked, they are creating this new channel of funding which they can splurge on while their actual allocations remain locked.

Some groups have already raised alarm against this blatant cash grab.

Blockworks Research is voting against this.

These 750M tokens were supposed to be part of the treasury but now seemingly lay under the centralized control of 3 individuals.

I hate to say it, but these kind of shady activities actually make people like Gensler right - by using shady structures from Cayman Islands, under the disguise of "DAO", they are staging a standard insider dumping scam where the team dumps token without any transparency while pretending their original allocations are locked.

Update:
Apparently it seems that even before this vote has passed, Arbitrum team has already moved 40m ARB tokens to a new wallet, and then started distributing them to child wallets, and it appears from the transactions that millions have been already sent to Binance .

Transactions: https://arbiscan.io/token/0x912ce59144191c1204e64559fe8253a0e49e6548?a=0xb3f923eabaf178fc1bd8e13902fc5c61d3ddef5b

These tokens were supposed to be "locked" but it appears they are not locked, but rather being sent to Binance (presumably to dump).

This is looking like a rug pull of sorts. As we see very often in crypto, plain old fashioned greed and fraud kills everything.


r/CryptoCurrency 6h ago

ANALYSIS The US government selling their BTC is the most bullish thing to happen so far this year.

213 Upvotes

We have all seen the big news yesterday of the Us government announcing their decision to sell 41.4k BTC (worth $1.1B currently), over the whole year in four batches. The first one already happening in early March at a price of $24k (which was ironically a local bottom and Bitcoin happened to pump just afterwards). Many may think that anything with “selling“ would automatically be bearish but this is not the case here, rather the exact opposite.

Firstly, by doing this selling the government will only decrease their stack they could use to potentially manipulate the markets.

Also the number of 41.5k and sell orders of about 10k BTC each time may seem like a lot but it is essentially not much in front of the daily trading volume of Bitcoin on all exchanges.

BTC Trading Volume chart

That trading volume stands at about 37k BTC daily right now, meaning that on the day of the US gov selling it would make up 25% of the daily volume, in the best case. As the daily trading volume has been seen at the heights of nearly 50k BTC too in the past months, it could even make up less and have less of an impact.

Daily Chart BTC of March 14th

Here we can see the exact day the US had sold their over 9k BTC at once, BTC actually still closed the day in green and probably just had a minor correction during the day.

This really is one of the most bullish things to happen this year as it will take off selling pressure from Bitcoin and the resulting mini-dip will be eaten up in under one day. It is a win for Bitcoin and loss for the US government.


r/CryptoCurrency 5h ago

🟢 GENERAL-NEWS Donald Trump's NFT trading cards jumped in value to almost $1,700 after Manhattan indictment

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167 Upvotes

r/CryptoCurrency 15h ago

DISCUSSION Allegedly, Binance was found to be heavily insider trading. With their massive size, how much of crypto markets and its prices are really real?

521 Upvotes

Binance was found to be insider trading with literally hundreds of accounts owned directly or indirectly by CZ through an investigation by the CFTC. Some have said that you should trust CEX and have your own custody of funds but that is very short-sighted and fails to see the big issue here.

The Binance platform held close to 70% market share before the allegations. This means that their actions contribute, generally, to 70% of the prices that Cefi/CEX’s contribute to a general token price. And Cefi currently contributes 6.4 times to the general market price than Defi(at least for Bitcoin), such that Binance contributes around 60% to a token general market price.

Thus, any price/market manipulation by Binance has a huge effect on the market price, especially with hundreds of entities doing insider trading either on behalf of and in partnership with Binance/CZ. So this is where we ask ourselves the hard question, how much of trading and prices is actually real? Sure the tech is still there and the utility also still remains present, but we all know most people are in it for the profit. Let’s not delude ourselves. We see how bear markets affect the activity of the millions of sub members here alone. How much of the prices that we see and that we celebrate are…well artificial, are not real? And then what does that mean for crypto?

Credit to u/MilesPower here for the initial piece:

https://www.reddit.com/r/CryptoCurrency/comments/123t192/binance_traded_against_customers_with/


r/CryptoCurrency 4h ago

PERSPECTIVE The sentiment is extremely bullish right now, and it doesn't feel wrong.

62 Upvotes

Right now Btc has shattered every bearish prediction to date, banks have failed, some even linked to crypto. The largest crypto exchange is being accused of some pretty serious criminal behaviour and Btc? Up. So far the crypto market seems to have absorbed all the worst news, hell even FTX feels like just some bad dream from long ago.

Interest rates are sky high, historically speaking. Yet, what are we seeing? People always laugh at ' this time is different ' well this time is. Btc has never had to face interest rates this high, yet it's on a recovery path thus far. That's taking everything else into account. Then the US regulatory push, at this stage it feels like Btc and the market is undefeatable long term.

In the past, negative news of this magnitude and this much of it would have tanked the market. But it genuinely seems like average people are starting to believe in the space. The space seems to be looking forward rather than going purely off speculation which is the first signs of maturation in an asset class, it may take some time but Btc is defying all expectations currently.


r/CryptoCurrency 2h ago

REMINDER Don't be blinded by the high APY. Don't treat exchanges or Staking-as-a-Service like your savings account. Hard lesson I learned from the last year.

36 Upvotes

I'm browsing Youtube and stumbled across a video from last year. A lot of "influencers" were promoting high APY and talked about keeping cryptos on exchanges or staking-as-a-Service such as Celcius.

One of those is InvestAnswers.

The shillfluencer

This guy has shilled Celcius and numerous other shitcoins that went to lose over 95% value.

And here were the APY offered back in the day:

Cryptobuffer Medium

Does 12.5% APY sound great? Probably too good to be true. Back in the day there were numerous articles comparing bank interest with these kind of staking rates. They all forget an important thing is that deposits are not guaranteed with Celcius or many other staking platforms.

We all know what happened after the ponzi went burst:

Coin Gecko

I was one of those lucky ones, I only put a small amount and were able to withdraw before things got ugly. But now still a lot of people are waiting on what's next and Alex Mashinsky.

Mashinsky, who wore t-shirts with slogans such as "banks are not your friends," continued to falsely represent to investors that Celsius was generating high yield through low-risk investments, according to the Reuters.

Never trust any crypto influencers (and probably influences in any field...) and be alert about the high APY. Get your own wallet and store your crypto there. Don't be blinded by those high interest, it's not worth the risk.


r/CryptoCurrency 1h ago

PERSPECTIVE Crypto gaming so far has been a disappointment

Upvotes

I feel like it has so much potential, and I know it's in very early days, but so far it has been really disappointing and most projects have been disappointing attempts at cashgrab. And it's not like good amount of money hasn't been invested in it, especially with projects like Decentraland and The Sandbox that are a wasteland right now of like 500 users a day. They might be future of gaming, but so far development of them has been quite disappointing, it's like companies haven't focused on the main thing around it: which is providing a good product along with it, and not just make it for a gimmick.

I did hear Gods Unchained (haven't tried that one since I'm personally not the biggest fan of card games) has been more positively reviewed than others who played it, so not all are overwhelmingly disliked.


r/CryptoCurrency 9h ago

REGULATIONS Ripple CEO Calls on US Lawmakers to Look into SEC Chair Gensler's Crypto Assertions

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116 Upvotes

r/CryptoCurrency 3h ago Gold Bravo!

METRICS I made a totally free tool for crypto enthusiasts!

25 Upvotes

I made a free tool for tracking cryptocurrencies. It's mainly just a hobby project I developed in my free time as a way to give back to the community I love. I have an unhealthy obsessions with cryptocurrency and data, which fueled my desire to create an easy to use dashboard with minimal barriers to entry (completely free, no signups).

I haven't really marketed it at all since I'm not 'selling' anything but I would like to share my work in case someone finds value and can benefit from it themselves :)

Hope you find some value in what I've created - if not, I'm always open to feedback and suggestions.

You can view......

  • Live trading price feed across most well known exchanges
  • Live liquidations as they occur across most exchanges
  • Live whale-watching movements (to and from exchanges ~ wallets)
  • View various metrics such as historical fear/greed, open interest, company holdings, news
  • Practice your trading skills with a simple paper-trading simulator (I'll be running a little competition soon)
  • Socialize with other people in the community chat - or don't - it's up to you and the site is fully usable without registering/logging in (aside from the paper-trading as you need an account to preserve your data).

... and a bunch more stuff!

The website is: https://bitcoindashy.com
For the paranoid, here's a google report on how safe the site is before you click on the link (which is always good practice): https://transparencyreport.google.com/safe-browsing/search?url=bitcoindashy.com&hl=en

Hope you enjoy!


r/CryptoCurrency 12h ago All-Seeing Upvote

DISCUSSION What are you going to do with your Ethereum once it is unlocked?

123 Upvotes

We are getting very close to the Ethereum unlock, the Shapella hard fork is scheduled for April 12. About 15% of the total Ethereum supply is current locked up which means there is going to be a lot of crypto suddenly available to move around.

Current yield from staking is around 4-5%. Not bad. Safe. But after playing around in SushiSwap you start seeing more options out there to park your crypto.

If you have Eth that’s locked up, what are you going to do with it going forward? Keep it staked, sell, or do you have other plans?


r/CryptoCurrency 17h ago All-Seeing Upvote

GENERAL-NEWS El Salvador removes all taxes related to tech innovation for economic growth

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285 Upvotes

r/CryptoCurrency 7h ago

DISCUSSION Who are the good guys of crypto?

47 Upvotes

If youve seen the post on ARB token and what they are trying to do, its not necessarily something new.

There were also the recent disclosures about binance inside trading and obviously FTX before that.

And it got me to thinking, there are so many people who are obviously and clearly in this space creating coins/ tokens and other crypto related plays/ derivatives purely to get rich, at our (the average retail boy or girl's) expense. This to me is barely any better than the hackers who go straight for your wallets. its just a little more sophisticated.

The fact is that the crypto market is the easiest way to make huge sums of money with impunity.

You can literally cope code and with a bit of basic advertising/ tick tock plugs and a website you can create/ copy in a couple of hours you now have a super token! there are virtually no barriers to entry.

So, with no barriers, with impunity, with no regulation, what drives people to do something virtuous? And even if they start good, how long do they stay good?

So with all of that being said, who are the good guys of crypto? then ones who on balance, are here to try and make difference, to promote crypto, to do things in ethical ways and have stayed for the long haul so far.

Vitalik is an odd ball, but to me is the obvious good guy of crypto- but maybe I dont know some of the shady things he may have done? its hard to say good, and get to the top?

But who else? I dont mean some random guy with a twitter account.. I mean major players/ founders of tokens/ coins, or crypto related services.

Who are our champions? cos it feels like we desperately need some right now


r/CryptoCurrency 39m ago

DISCUSSION Are you accumulating moons solely through earning, or buying them as-well?

Upvotes

Ive seen a few people telling others it would be silly to buy a token that you essentially get for “free”. However, saying moons are “free” means nothing as you still have to invest your time and effort to post/comment etc - which is no different than investing time and effort into fiat to buy crypto with.

To think that moons have increased in price by roughly 275% over the last few months is crazy! They’ve been yet to let me down so personally il be earning as much as I can for the foreseeable future, whilst buying a small portion each weekly DCA.

Are you strictly just earning your moons through r/cc? or are you buying them aswell?


r/CryptoCurrency 6h ago

MARKETS ‘Pivotal Moment’ For Crypto After ‘Hyper-Speed’ Bank Crisis Spurs Bitcoin And Ethereum Price Pump

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36 Upvotes

r/CryptoCurrency 2h ago

DISCUSSION Loopring APR % Revealed

17 Upvotes

As many people are aware, Loopring now has a staking option in their wallet. The made this announcement early last week and people have been hurrying to get funds into the wallet to stake.This has been something the community has been looking forward to for a very long time!

You had to have at least 1000 Loopring to stake and the staking funds will be locked for 90 days. The APR % was going to be revealed on April 1st.

Well today after the first 24 hours had passed, the APR % has been revealed... 0.24%.

Ouch. I know a lot of other factors have to come into play to have a higher APR but that is almost April fool's day level bad.

I still believe in Loopring since they have a very active development team, a solid roadmap they have been hitting on, and a great working product. As ETH grows, the importance of L2's will be huge. That said, that APR is disappointing for a long time holder.

Any other Loopring holders out there? What are your thoughts on this. Disappointed? Not worried? Let me know.


r/CryptoCurrency 30m ago

🟢 GENERAL-NEWS Arbitrum’s First Governance Proposal Turns Messy With $1B ARB Tokens at Stake

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Upvotes

r/CryptoCurrency 2h ago

GENERAL-NEWS Polygon co-founder on ambition to overtake Ethereum | The Crypto Mile

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13 Upvotes

r/CryptoCurrency 1d ago To The Stars

PERSPECTIVE If Jake Paul is only fined $400,000 for a crypto scam that nets him millions, where is the deterrence from doing it again!?

9.7k Upvotes

Jake Paul has created and shilled multiple projects like Dink Doink and Cryptozoo which eventually led to the SEC fining home almost half a million dollars. This is good in theory, the SEC is protecting investors by giving a fine to fraudsters. But if you take even one second to go over the numbers he still wins.

Jake Paul netted millions from cryptozoo alone and his coworkers made just as much. His other scam projects such as DINK DOINK was another rug pull he cashed in on. If he is profiting 6x or more than his fine it’s really no punishment whatsoever, hardly a slap on the wrist.

The only real punishment was that it hurts his reputation. But the real issue I have with this is that tells other potential scammers that they have the green light. They can go ahead and commit mass fraud because at the end of the day you just have to pay a little tax on your profits. And retail investors lose again.

The SEC can’t seem to make one right move in the crypto world but I can’t even blame them fully because of all the influencers and celebrities are the ones doing it in the first place. There needs to be massive change if not way larger fines then at least jail time and reparations.


r/CryptoCurrency 14h ago

DISCUSSION The goofiest r/cc banner yet lol

94 Upvotes

Introducing WOWNERO

https://preview.redd.it/rj4wi5yro9ra1.png?width=1920&format=png&auto=webp&v=enabled&s=9ae65f5d44fcfe1f5fd0d925f6d588794ccf06c1

First off we thank you for the moon burns.

Secondly: you can now buy memes!

https://preview.redd.it/3p2p6vg1p9ra1.png?width=924&format=png&auto=webp&v=enabled&s=1a82755d05b4cddffa922a75b9085ca44a0796dd

You can mine WOW tokens on your PC! The development is also all open source! They also have WOW wallets.

WOW token is a soft fork of Monero (XMR) and was launched on April fool in 2018. So its just so fitting that they would rent the banner today!

Token Stats: There will only be 184m coins that will be mined over the next 50 years. This is a solo mining token.

100% cool project! Driven by 100% community go give them some support! You can read the white papers too


r/CryptoCurrency 7h ago

PERSPECTIVE I started a crypto portfolio for my future kids

26 Upvotes

I’ve started moving a tiny portion of my weekly DCA and moving it to a new wallet that is going to be for my kids. Call it a college fund or whatever you will but I think it’ll be a huge hit in the future. I’m keeping it lower risk by only doing BTC and ETH.

Obviously I believe in the future of crypto technology wise and financially. The reward vs the risk worst case scenario is worth it to me.

Bitcoins price in 20+ years is a mystery to all of us but a couple hundred or thousand now could potentially pay for someones entire college education or whatever my children pursue in the future.

Plus I have always been jealous of people who turned 18 and their parents gift them a huge portfolio that had been built up for decades. My parents didn’t know a lot about personal finance so I got nothing like that or any advice about money or investing. Now that I’m self educated on the topic I get to be the gift giver!

The hardest part if the wallet does well is going to be keeping to a secret since I would be so excited for them. I’ll keep you guys updated!


r/CryptoCurrency 3h ago

DISCUSSION What will it take to declare the bear market over?

12 Upvotes

So bitcoin has had an amazing run since this year started on 1st Jan 2023 and has shown no real signs of letting up.

It seems like most people still think we are in a bear market but I have started to see others believe that the bull run has now started and the bear market is over.

What should we be looking for in order to feel like the worst is definitely behind us and that the bear market is now over? Does btc need to consolidate over a certain price? Maybe the fed needs to start dropping interest rates and the macro needs to show some signs of improvement? Interested to hear peoples thoughts


r/CryptoCurrency 4h ago

DISCUSSION What Was Your Stupidest Mistake in Trading Crypto?

19 Upvotes

Besides having invested in shitcoins. I am talking about really dumb mistakes like writing the wrong amount, typo in the address idk theres a lot of examples where you can be unaware and/or stupid.

I am unaware and stupid, as I already had 2 typos lol (im copy pasting since my last mistake so I hope it does not happen again lol). Luck in misfortune, these were small amounts but still it is annoying

So what about you. Is everybody attentive and checks everything few times? Is there maybe even someone who fell for a scam and likes to be honest about it? I am curious about your stories or if you are a clean trader and never make mistakes (besides maybe having invested in shitcoins lol)


r/CryptoCurrency 3h ago

DISCUSSION What would it take for a central exchange to be trustworthy?

9 Upvotes

A lot of news has been floating around the FTX collapse, and more recently about Binance and the CTFC, and the general advice on this sub is to get your coins out of exchanges and into cold wallets, which I do completely agree with.

To those who are more experienced it seems obvious that the safest option is to spend the relatively small amount and buy a cold wallet. But realistically if we want to reach so called ‘mass adoption’, the truth is that a large amount of holding needs to take place on central exchanges. There are considerably more people looking to invest a few hundred into crypto than thousands, and to them spending the time and money to buy a cold wallet may just not be worth it. And if we’re talking about accessibility, setting up and transferring to even a hot wallet is not something the casual investor will be knowledgeable about, as simple as it seems.

Look at stocks for example, brokers such as robin hood and fidelity are responsible for a huge percentage of stocks and shares investments in the US. These brokerages are built on reputation and security, with users trusting them with huge amounts of money. If you ask most people, they think that trading212 (UK) or robin hood are trustworthy places to hold stocks, because that genuinely is the case as they have great insurance and security.

The more exchanges we see fail and the more people that lose funds is going to create a huge barrier in getting casual investors into the crypto space, which is a driving force for mass adoption. Something needs to change in terms of central exchanges, whether that’s through regulations or security measures, I don’t know.

What exactly would it take for an exchange to be trustworthy? I know personally it will be very difficult for me to get that trust at this point, but maybe something can be put in place to put the general sentiment more positive for investors.


r/CryptoCurrency 1h ago

DISCUSSION Theoretical: how to randomize my crypto into a new wallet before a potential crackdown

Upvotes

Totally theoretical.

Let’s say I’m worried about the US government cracking down on crypto. I’ve noticed more and more questions about crypto on my taxes every year, fortunately I’ve never sold so I’ve never had to give any information lol.

Let’s say I wanted to “randomize” to a wallet that’s not associated with me, my bank accounts, or anything tied to me prior to a crackdown. In this theory, I’m a patriotic person, do not break the law, but feel as though an attack on my personal crypto holding is antithetical. I don’t tell the government about my Pokémon cards, why should I about crypto?

So anyways, hypothetical answers? If you’re actually an expert and don’t feel comfortable posting it, send that hypothetical to my inbox so I can study that for purely academic purposes.


r/CryptoCurrency 1h ago

PERSPECTIVE Have you ever tried to transfer money from skins that you have on Steam to a cryptocurrency?

Upvotes

Hello good people and gamers from my favourite sub. I honestly believe that this sub can help me, and I know that my post about Steam may be breaking some rules, but I think that this is the best sub to ask this question. Is there any way to transfer money from skins that you sell and money that you already have on Steam wallet to a cryptocurrency?

By the way I am asking this question based on someones experience on this subject. It would be great if I could do that, I actually don't care much about my skins, and with 30-40 euros worth of skins I could be multiplying that in crypto.

Gamers on r/CryptoCurrency, let me know if you have tried this before.