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Friday, August 9, 2019
[Daily Discussion] Saturday, August 10, 2019
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[Daily Discussion] Saturday, August 10, 2019
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
- Quick questions that do not warrant a separate post
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[Daily Discussion] Saturday, August 10, 2019
Thread topics include, but are not limited to:
- General discussion related to the day's events
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- Altcoins Discussion: Altcoin Discussion
[Altcoin Discussion] Saturday, August 10, 2019
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- All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
- This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
- No discussion about specific ICOs. Established coins only.
If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.
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- Daily Discussion for bitcoin only: Daily Discussion
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[Daily Discussion] Saturday, August 10, 2019
Thread topics include, but are not limited to:
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- Weekly threads: Newbie Mondays and Fundamentals Fridays
[Daily Discussion] Saturday, August 10, 2019
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
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[Daily Discussion] Saturday, August 10, 2019
Thread topics include, but are not limited to:
- General discussion related to the day's events
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Club Crypto in Newark NJ. Just got full approval to run the joint. Accepting Bitcoin at the bar, no fiat allowed. For events and sponsors contact me. Thanks
https://www.reddit.com/r/Bitcoin/comments/co2j9t/club_crypto_in_newark_nj_just_got_full_approval/?utm_source=ifttt
[Daily Discussion] Saturday, August 10, 2019
Thread topics include, but are not limited to:
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With All Eyes On The Bitcoin Price, Another Crypto Is Up Over 800% This Year
The bitcoin price has roughly tripled since the start of the year, and most people have associated the price movements with the hype around Facebook’s upcoming Libra cryptocurrency — even though Libra is very different from Bitcoin.
While bitcoin has been on a tear this year, nearly all of the major altcoins have not been able to keep up with the world’s first, biggest, and most popular cryptocurrency. In fact, Bitcoin SV (BSV) and Chainlink (LINK) are the only two alternative tokens to be up against bitcoin over the past three months, according to Longhash.
BSV is mainly backed by a cult of personality around someone who has claimed to be Bitcoin creator Satoshi Nakamoto but never been able to prove it. In fact, many in the crypto space have referred to him as an outright fraud or scam artist.
On the other hand, LINK is the token associated with a project attempting to solve Ethereum’s oracle problem. LINK would not have been considered a major crypto asset at the beginning of the year, but the token is up 839% against the U.S. dollar so far, according to OpenMarketCap.
What is Chainlink?
The oracle problem is basically that smart-contracting platforms like Ethereum have no knowledge of real-world data. This effectively means that, for example, a simple smart contract where two Ethereum users bet some ether on the outcome of a sporting event will involve a trusted third party to decide who won the bet after the event is over.
Chainlink’s solution to the oracle problem involves the use of a decentralized network of oracles to lower the risks associated with placing trust in a single third party. After all, one of the key tenets of this technology is that trusted third parties are security holes and should be avoided at all costs.
While Chainlink uses mechanisms like collateral reputation to improve the reliability of oracles in its system, it may not solve the oracle problem in its entirety, as that is a question that can only be answered after the project has operated in the wild for an extended period of time.
It’s possible that something like Augur or Bitcoin Hivemind may be necessary to provide sufficiently decentralized network of oracles.
The LINK Token
The LINK token is used in the Chainlink network for activities such as paying for data and putting up collateral. This economic model attempts to create the proper incentives for LINK’s value to rise as more entities come onto the network to provide oracle services.
While this model appears to make sense at first glance, it’s unclear if the additional LINK token is necessary. Much like how Uniswap eventually launched a decentralized exchange network on Ethereum without a native token, a similar situation could occur with Chainlink. There are already other solutions, such as discreet log contracts, which exist in the wild and aim to solve the oracle problem in a different way without the need for something like LINK.
While LINK has been the darling of the crypto asset market in 2019, it’s important to remember that these sorts of coins can fall just as fast as they rise, especially when they rise as fast as LINK has this year.
As one anecdote regarding the high level of speculation that likely exists in the LINK market, it should be pointed out that the subreddit about trading LINK has more subscribers than the project’s main subreddit. However, a Twitter user pointed out that the subreddit for LINK price speculation existed months before the main Chainlink subreddit was created, which means network effects are likely at play there as well.
Buying this coin today may not be too dissimilar from playing the slot machines at a casino. Anyone who decides to speculate on LINK should only do so with money they can afford to lose.
Update: This article was updated to reflect that the subreddit for LINK trading existed before the main Chainlink subreddit.
[Daily Discussion] Friday, August 09, 2019
Thread topics include, but are not limited to:
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[Daily Discussion] Friday, August 09, 2019
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
- Quick questions that do not warrant a separate post
Thread guidelines:
- Be excellent to each other.
- Do not make posts outside of the daily thread for the topics mentioned above.
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Litecoin Price Fails to Pass $100 on Day of Halving
https://i.redd.it/h1xun6c4odf31.png
News by Cointelegraph: William Suberg
All eyes were on Litecoin (LTC) price August 5 as its block reward halving failed to excite markets and produce gains for investors.
https://i.redd.it/ibylhqj6odf31.png
Litecoin 7-day price chart. Source: Coin360
LTC gains fail to materialize
Data from Coin360 showed Litecoin, which is the fifth-largest cryptocurrency by market cap, trading at around $94 Monday, just one hour before the halving.
Once the process completes, miners will gain just 12.5 LTC per block of mined transactions, instead of the current 25 LTC. While not guaranteed, this increased scarcity has the ability to push up the price of a token, Cointelegraph reporting on anticipation building prior to Bitcoin’s (BTC) next halving in May 2020.
For Litecoin, however, the halving has yet to enliven sideways markets, LTC/USD gaining just 3% over the past 24 hours.
Bitcoin in fact outperformed Litecoin and all other altcoins in the top twenty as the week began, rising by close to 10% on the back of increased geopolitical tensions centered on China.
“In the bear market, a lot of traders saw the Litecoin halving as a good fundamental trade and it became pretty crowded,” Eric Turner, director of research at blockchain analytics firm Messari, meanwhile told news outlet Al Jazeera August 3 about the Litecoin halving.
He added:
“Now that the halving is here, some investors are starting to exit the trade. Halvings tend to be priced in, so the event itself isn’t the positive catalyst that many expect.”
Cointelegraph has published a dedicated guide to the Litecoin halving, collecting the major theories on what it could mean for the token in the short and long term.
[Daily Discussion] Friday, August 09, 2019
Thread topics include, but are not limited to:
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UK's Largest Newspaper Talks About Bitcoin's Dwindling Supply
https://i.redd.it/a6pa3e1sndf31.png
News by Altcoin Buzz: Robert Patrinjei
The Sun is Britain’s most-read newspaper with an audience of 30M people and counting. Bitcoin’s dwindling supply and the fact that 85% of the supply has been mined have been mentioned by Harry Pettit, a reporter at the giant media outlet.
For those that don’t know, 17 million Bitcoins have already been mined, leaving us with about four million Bitcoin yet to be mined.
What will happen once all the Bitcoin are mined?
At this point there is really no way to know, all we can do is make an educated guess.
The price of Bitcoin will most certainly rise by a lot since there will no longer be a block reward; miners will have to rely on fees only.
The last Bitcoin to be mined would be around 2140 when most of us, if not all, won’t even be alive by then…
Bitcoin’s price could be huge by then as the price can continue to increase with each halving event every four years.
Quoting The Sun:
“Previous analyses have suggested that the coin’s value could jump as it becomes more scarce over time. Trusted crypto-analyst PlanB recently calculated that the coin could ten times its current worth to around £82,000 per Bitcoin by March 2020.”
This news has been seen by millions of people, and we may see a nice rally pretty soon.
I think every person should hold at least 0.1 of a Bitcoin for the long term.
[Daily Discussion] Friday, August 09, 2019
Thread topics include, but are not limited to:
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[uncensored-r/BitcoinMarkets] [Daily Discussion] Friday, August 09, 2019
The following post by AutoModerator is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/r/ BitcoinMarkets/comments/cnx2ys
The original post's content was as follows:
Thread topics include, but are not limited to:
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Other ways to interact:
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- Altcoins Discussion: Altcoin Discussion
[Daily Discussion] Friday, August 09, 2019
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
- Quick questions that do not warrant a separate post
Thread guidelines:
- Be excellent to each other.
- Do not make posts outside of the daily thread for the topics mentioned above.
Other ways to interact:
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- Set your flair to trade pretend money in the Flair Game
- Weekly threads: Newbie Mondays and Fundamentals Fridays
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