Saturday, October 8, 2022

Cardano Daily Discussion - October 09, 2022

Hello everyone,

Welcome to the Cardano Daily Discussion!

The standard sub rules apply here (see sidebar), with the exception that price discussion is allowed in this thread, though we encourage you to try not to make this the focus and talk about the project itself. Please ask questions, help others and be civil - be sure to get involved in Project Catalyst too!

If you're new, please make sure you're read through the newbies guide and share it with others (use the ?newbies comment command to reference it).

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⚠️ Scam Warning ⚠️

Please read the Cybersecurity guidelines for Cardano Users.

There are ongoing giveaway scams on youtube and many scammers lurking in Cardano's social channels impersonating ambassadors/moderators/official staff contacting users via direct messages.

For example, searching 'cardano' on youtube and sorting by most recent upload date shows several giveaway scams running (all videos in screenshot are scams):

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Ongoing 'giveaway' scams on Youtube

The youtube scams are automated; use stolen footage usually of Charles Hoskinson and are restreamed so to appear to be 'live'; appear to have many watchers (which are bots); use bought hacked channels and are edited to appear like official channels.

Do not be fooled!

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To be clear:

  • ⚠️ There is no such thing as a Cardano giveaway
  • ⚠️ Never share your seed phrase with ANYONE
  • ⚠️ Never send ADA to someone promising to send you more ADA back
  • ⚠️ You will never be contacted by ambassadors/moderators/staff

Please report scams on the Cardano Fraud Detection Bureau.

⚠️ Scam Warning ⚠️


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[Hire Me] I'll write a full month of content for $300

It can be maddening sitting in front of a blank document trying to brainstorm, research and write captivating original content, week after week. And make it on-brand.

I'm offering to take the stress off your hands & write that captivating content for you, so you can focus on the parts of your business that actually need your attention.

What $300 gets you:

  • 4,000+ words of compelling, SEO-friendly content (from $0.06 to $0.1 per word).
  • A weekly content calendar & content strategy for the month.
  • One dedicated, on-demand writer at your beck & call.
  • Consistent brand voice across all ads, blog articles, newsletters, product descriptions...you name it.

Some examples of my work:

Hand-Torn Taiwanese Noodle Soup (recipe blog, storytelling, very delicious)

Apple’s Spring 2021 Event Could Be This April — Here’s What We Expect to See (tech news, light humour, beginner-friendly)

How to Grind Coffee Like a Pro (how-to guide, beginner friendly, also very delicious)

Our Story - Cherry Tree Coffee (brand identity & storytelling)

Mischief & Mayhem Product Description (product description, brand identity, storytelling)

Can We Fix Bitcoin's Sustainability Problem? (crypto, tech news)

I always offer discounts for long term work, but please keep in mind your project may cost more depending on what additional work you need!

If it all sounds good to you, DM me & tell me a little about your project! :)


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[For Hire] I'll write literally all your website content for $300/month

It can be maddening sitting in front of a blank document trying to brainstorm, research and write captivating original content, week after week. And make it on-brand.

I'm offering to take the stress off your hands & write that captivating content for you, so you can focus on the parts of your business that actually need your attention.

What $300 gets you:

  • 4,000+ words of compelling, SEO-friendly content.
  • A complete content strategy for the month
  • A dedicated, on-demand writer at your beck & call.
  • Consistent brand voice across all blog articles, newsletters, product descriptions, you name it.

Some examples of my work:

Hand-Torn Taiwanese Noodle Soup (recipe blog, storytelling, very delicious)

Apple’s Spring 2021 Event Could Be This April — Here’s What We Expect to See (tech news, light humour, beginner-friendly)

How to Grind Coffee Like a Pro (how-to guide, beginner friendly, also very delicious)

Our Story - Cherry Tree Coffee (brand identity & storytelling)

Mischief & Mayhem Product Description (product description, brand identity, storytelling)

Can We Fix Bitcoin's Sustainability Problem? (tech news)

I always offer discounts for long term work, but please keep in mind your project may cost more depending on what additional work you need!

If it all sounds good to you, drop me a PM & let's chat! :)


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Sosharunetworks – Quality brings quantity -- There a lot of amazing events that are going to happen prior to its fair launch within 2 weeks. https://sosharunetworks.com/ #SOSHARUNETWORK #SOSHARU #BSC #BITCOIN #ROI

https://sosharunetworks.com
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[Sat, Oct 08 2022] TL;DR — Crypto news you missed in the last 24 hours on Reddit

r/Bitcoin

They did it folks… the DOW is officially more volatile than bitcoin.

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Bitcoin is money!!

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Reminder

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r/ethereum

Major universities like Harvard, Oxford, and MIT are entering the Web3 scene through Ethereum DAOs. Mainstream adoption is just getting started

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If everyone actually went though the hassle of learning about DeFi, we wouldn’t have CeFi in the first place

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Smart Cities are HERE! Question is: Which Blockchain will be Chosen by Smart Cities of the Future?

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r/CryptoCurrency

Decentraland’s reported to have only has 38 Daily Active Users in their $1.3B Ecosystem

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El Salvador President: If Our BTC Experiment Succeeds, Many Countries Will Follow

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Over 12,000 Cryptocurrencies Have One Month of No Trading Volume in 2022

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r/btc

Lightning Network is The Future 🤡 🥸💀💩📉

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I was successfully able to spend from my lightning node, and sent out 20,000 sats. Apparently now I can receive only 9,000 sats... this must be something I agreed to when I set up the channel?

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Bitcoin Cash and the Fight for Economic Freedom

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r/SatoshiStreetBets

SatoshiSwap Friday Update - 7th October 2022

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100,000 Land NFTs of the Affyn's NEXUS metaverse have been made available to investors, what are the advantages of owning these NFTs?

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Will Elon Musk add Dogecoin to twitter?

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r/CryptoMarkets

I heard of ETH’s decision to go PoS and was wondering if there are any good crypto companies to invest in?

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Just In: People would rather stare at the $Butts chart than going to decentraland

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TradeOgre exchange partner with Utopia P2P platform

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r/CryptoCurrencies

Binance Chain Exploiter Just Transferred 33,772 Ethereum to a New Address

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Peter Brandt Says Every Bitcoin Purchase in 2021 Is In Loss, Bollinger And Saylor Respond

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This is a non-profit project. It's just for fun and relaxing

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r/CoinBase

Coinbase have locked my account and are not responding to me

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Sending ETH from Coinbase to MetaMask resulted in Internal transaction

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Coinbase Card being declined on transactions that were previously successful

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r/binance

Binance founder and CEO Zhao “CZ” Changpeng says the company will spend more than $1 billion on projects investing in NFTs, DeFi, and publishing by the end of the year.

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We bet, this just cant be us - Or is it? Lets talk🤣

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When Will the Market Recover?

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r/Ripple

Unpopular but interesting: Ripple now operates only 2 of 35 validators in the XRPL ecosystem making the XRP ledger quite decentralized

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10/08/22 [Join FlareXRP Discord] - discord.com/invite/FlareXRP

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No SEC Corruption: Conspiracy Created by XRP Investors | Charles Hoskinson

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r/litecoin

300 days until litecoin’s 3rd block halving. This occurs every 4-years like Bitcoin.

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Mimblewimble Progress Update Thread - September

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r/Monero

Broadcasting txs over Tor, is Dandelion++ still used?

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I need your help writing a Monero article

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CLI & GUI v0.18.1.2 'Fluorine Fermi' released!

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r/Stellar

#stellar #xlm Real World Use…

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To celebrate Meridian 2022, Lobstr and Moonpay are rolling out the "Buy XLM with ZERO Fees" from October 10th to the 16th. All fees when using your card or bank account to purchase crypto will be waived.

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Co Founder of Reddit at Stellar Year Event

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r/cardano

Charles Hoskinson on Dildo-Limit Laws in the United States

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DirectEd Development Foundation is building a dApp on Cardano for scholarship crowdfunding! We discuss how they’re using NFTs and Atala PRISM to fund coding boot camps for students in Africa.

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Liqwid Labs Technical Status Update

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r/NFT

Printed by Warner Printing & now getting ready to be packaged then off to their new homes! Thanks to all the community members who purchased a Labit NFT from us!

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Girl in the Mirror / 0.25Ξ / FND / Link in bio

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Metaverse Development - A Complete Guide

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The truth about day traders

Educational post

We all have seen those groups announcing buying or selling signals. Going long or short. Or YouTube tutorials how to learn to read the chart and day trade.

They are all sugar coating and majority of times using you. Either just for clicks to make money on YouTube explaining the most simplest things that won't make you money or manipulate.

Let's say I have a group of hundreds of followers. As a trader I see a potential downtrend so I short. I tell the hundreds of followers that this is a great short signal. They see it goes down so they short / sell. MY position is now potentially already in profit just because of that. At the end even if I'm wrong it's a 50:50 chance and I drove the price further down. Especially effective on smaller market caps.

Some of you might think that "it's a whale game retail doesn't move the prices" but that's statistically proven wrong. A single person definitely isn't moving the price but a group of people have done that in the past. Great example are my fellow degens over at r/wallstreetbets pumping up random stocks together.

It is important to mention that professional traders are most of the times not even allowed to talk about their investments / strategies. They use funds of clients and are by law prohibited to give any insider information.

So all traders are fake and you can't actually make money?

No you can definitely make money day trading. Especially if you are a good trader you can become a millionaire if you start with a decent amount. It's a professional job in the stock market for a reason that gets paid really well by investors / institutions. Usually those professionals don't tell their secrets. They keep them for themselves and manage your funds for a cut of the profit.

So how do I become a day trader?

It's important to know that statistically 71%+ of retail traders LOSE MONEY. Arguably you could even say that with such a high number that some of the other 29% could just be lucky. But there are ways to become a good trader and the keywords are experience, knowledge & commitment.

We live in a free market and if there's money to be made there is competition. Especially trading has a huge potential so the competition is even bigger. You can't expect to be able to compete with those that have been doing it for years 40-80h/week. If you want to you have to accept that you need to spend a lot of time and effort.

What I would recommend: Try papertrading for a couple months. But take it seriously and only use small numbers that you would feel comfortable trading yourself. DO NOT just "do some fun trades" that can lead to profit. If you do a gamble 50x leverage trade and profit it can easily blind you and ruin your stats overall to see if you do well or not.

Read books. There are awesome books out there to understand patterns in the chart, learn strategies and market psychology. I personally only scalp trade lately because of how irrational markets move.

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OVERSIMPLIFIED Scalping strategy ( NO FINANCIAL ADVICE )

Plus ( + ) sign is where I opened shorts. The minus ( - ) sign is where I closed them. Sure I could've kept them open but that's not the point. Scalping is trying benefit from a down or uptrend opening and closing trades over a short period of time. Sometimes even within minutes - sometimes over a longer period of time.

Weekends are infamous for Crypto to test new lows especially after a weak stock market week. Technically you could've shorted after the close and now wait for such a low dump, cash out, or if you are truly degenerate go long at those bottom to benefit from the support bounce.

Prediction

predicting an uptrend

Sometimes Indexes like the NASDAQ futures can have great signals. NASDAQ futures are nearly open 24/7 and Bitcoin usually follows them as you can see by the chart.Over the entire Wednesday 5th october crypto fell really far most likely reacting to that red NASDAQ day / sell off. However, after markets closed, NASDAQ gained a lot of strength while Crypto was still behind.

3-4h later NASDAQ futures were already up +0.7% and the japanese markets opened in big green as well pushing the NASDAQ futures even higher. In that short time frame crypto diddn't move. That's a way to bet and predict it will follow any moment. You go long, set up stop losses to not get rekt by a whale move and sit it out. If NASDAQ falls back down and you see crypto following it - don't hodl trades. However in that moment bitcoin indeed followed NASDAQ and did pump a couple minutes later. Later on you can see how it slowly faded away again which should be the latest exit point.

Cashing out in profit during a pump is always better then watching the pump fade away.

Remember, as a trader you are not aiming for a 2-3x or even 10x in a day. You aim for small and consistent gains that cover your losses. You will lose. Markets move irrational and sudden. Black swan events exist.

Your goal should be taking profit and make profit every month consistently. Even if you only increase your funds every month by just 2%. It's still more then just +2% overall.

10.000 initial investment:

10200$ 1st month -> 10404$ 2nd -> 10612$ 3rd -> 10824$ 4th -> 11040$ 5th month

That's +10,4% gain in 5 months. Now imagine you proceed to do it for years. That's why it became a profession especially for bigger money. You can obviously adjust your risk tolerance and aim for higher gains but that requires more and more work & experience.


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Add to your calendar Binance Coin (BNB) event: Bitcoin Amsterdam - October 12, 2022

https://kryptocal.com/event/82371/bitcoin-amsterdam
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