Wednesday 17 November 2021

Every time I beat my meat I put a 100$ into my Bitcoin savings

Hi

I have had a jerking off addiction for a larger part of my life and it is not something I am proud of. I’ve tried everything I can to stop from deleting all triggering apps , using internet filters , keeping myself occupied, giving myself consequences everytime I fail and so much more but it all seems to fail.

I came to a realization after achieving post nut clarity that it is most likely an addiction I won’t be able to overcome so the best I can do is manage/make the most of it at least.

I practice a budgeting system using a money pipeline modeled after Thomas Frank’s money pipeline and I decided anytime I beat my meat I will take a 100$ from my entertainment fund and put it into my Bitcoin savings this way even though I fail in managing my addiction I get punished ( paying for beating my meat ) and rewarded ( investing into a long term fund ) at the same time.

Although this may not be the best way to manage an addiction, it’s the least I can do to make the most out of it anytime I fail.

Looking forward to hear your thoughts , advice and discussions

submitted by /u/Bodevan2205
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[OC] The govt going after me for money instead of billionaires... 🤡

[OC] The govt going after me for money instead of billionaires... 🤡 submitted by /u/thebeastofbitcoin
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Got liquidated and lost $10k

I know you have to take responsibility and deal with it but it feels so shitty I can't even explain it. When it happened I thought I was gonna be sick. Still can't believe it hours later.

I would hear a lot in crypto communities that everyone gets liquidated in futures at one point, I just never though it'd happen to me.

I only started trading futures a month and a half ago. I basically lost $6.5k that I put in, which is pretty much all the savings I had and the profits that I made along with it. All because I didn't use stop losses and the positions just kept falling. I also should have never opened more than 10 positions. I had about 14.

I was doing pretty well too upto this point. Since I am apart of some signals chats I had made decent money trading 20x lev, about $200-$400 per day in profit. I would also exit losing positions quick - but this flash crash caught me off guard. All my positions were losing positions and I didn't want to realize losses.

I wanted to share this here, maybe some of you could give me advice about anything at this point, don't know who to talk to about it. I know I can succeed with futures but I don't even know where I go from here since I'm unemployed too. Its really taking a toll on my mental.

Anyway thanks for reading. Any comment would be much appreciated.

submitted by /u/bobl0
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NBA team Houston Rockets announce new sponsorship paid fully in #Bitcoin

submitted by /u/gerigerigerigeri
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I bought most of my BCH at $900. My thoughts.

I decided to invest in it in April when I found out about its utility and vast institutional support.

I own 5.4 BCH and spent $5k.

At $580, I stomach a ~40% loss.

Let me tell you something.

No way I’m selling secure, trustless, real world p2p cash at a loss for institutions to gobble up, when its price is barely at its full potential.

This is a long term investment. Not a get rich quick scheme.

If the price recovers, I’ll be taking profits by actually buying stuff with it.

Have stoicism.

submitted by /u/DrankTooMuchTequila
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source https://www.reddit.com/r/btc/comments/qvi0rt/i_bought_most_of_my_bch_at_900_my_thoughts/

Buy snacks with BCH on the streets of Caracas Venezuela

Buy snacks with BCH on the streets of Caracas Venezuela submitted by /u/georgedonnelly
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source https://www.reddit.com/r/btc/comments/qvise4/buy_snacks_with_bch_on_the_streets_of_caracas/

Smart BCH transaction fees?

From what I understand, the SmartBCH side chain uses a PoS consensus that is tied deeply to the PoW consensus mechanism of the main chain, so what are transaction fees on smartBCH like? For example, BSC has fees of about 5 cents last I used it (21000 gas at 5 gwei) and ethereum has some unholy fee per transaction. What are the gas prices for smartBCH, and how would it cost if the dollar value of 1 bch = 1 smartbch? Thanks!

submitted by /u/masterofdead4
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source https://www.reddit.com/r/btc/comments/qvj8je/smart_bch_transaction_fees/

"Can't Ban Crypto" — Indian Parliamentary Panel Finally Moves To Regulate Bitcoin

"Can't Ban Crypto" — Indian Parliamentary Panel Finally Moves To Regulate Bitcoin submitted by /u/TaylorTylerTailor
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source https://www.reddit.com/r/btc/comments/qviuwj/cant_ban_crypto_indian_parliamentary_panel/

Spot bitcoin ETF unlikely to arrive until at least mid-2022, Valkyrie Funds CIO says

Spot bitcoin ETF unlikely to arrive until at least mid-2022, Valkyrie Funds CIO says submitted by /u/CatherineCourson
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source https://www.reddit.com/r/btc/comments/qvfwei/spot_bitcoin_etf_unlikely_to_arrive_until_at/

https://ift.tt/3kIVINz

Projects that reward participants with valuable digital tokens or similar incentives could cross a line into activity that should be regulated, no matter how decentralized they say they are.” – Gary Gensler, August 2021

The Securities and Exchange Commission (SEC) is one of the most frustrating bureaucracies in the United States. It is at once expansive in its mission creep but slow to react to clear and obvious frauds in real time, it possesses serious power to destroy people’s lives but is grotesquely selective in who it charges, and it is nakedly political while publicly claiming to be a humble servant of the retail investor class. The SEC is like the Internal Revenue Service (IRS), except people know the name of the head of the SEC because he is on television all the time.

Gary Gensler is coming for DeFi, and don’t blame the chicken for giving you fair warning.

DeFi stands for decentralized finance, and it is the crypto world’s attempt to radically transform the entire financial system. It is truly innovative, dynamic, and filled with promise for a better world. It is also a direct threat to the core power base of the global elite – the world is already great for them, remember – and we suspect they won’t go down without a real fight. If we’re correct, that fight begins in earnest soon.

The SEC is all the things in the opening paragraph and one more: it is also predictable. When targeting a sector, the SEC playbook calls for three simple steps. First, SEC officials jawbone in public. Second, important policy statements are released on its website. Finally, the SEC cracks its knuckles and sets about the task of punching people in the face – but it tends to target only those who can’t punch back (i.e., most crypto billionaires will be just fine). Last week, it passed from the first to the second step. The trip to the third is usually a short one.

On November 9, 2021, SEC Commissioner Caroline Crenshaw published what we believe will be seen as a historically important statement on DeFi. If you know how to read such statements, the clear message of this one is undeniable

In Part I of the statement, Crenshaw insists that when it comes to DeFi, the word “finance” is just as important as the word “decentralized.” She makes the case that virtually all DeFi programs in existence today fall under the SEC’s jurisdiction. Here are two key quotes (emphasis added throughout this piece):

So while the underlying technology is sometimes unfamiliar, these digital products and activities have close analogs within the SEC’s jurisdiction.
But these offerings are not just products, and their users are not merely consumers. DeFi, again, is fundamentally about investing. This investing includes speculative risks taken in pursuit of passive profits from hoped-for token price appreciation, or investments seeking a return in exchange for placing capital at risk or locking it up for another’s benefit.

In Part II, Crenshaw reminds the public that unregulated markets suffer from structural limitations including corruption, fraud, self-dealing, and substantial information asymmetries among investors. She opens this section with a zinger aimed directly at today’s DeFi participants:

Market participants who raise capital from investors, or provide regulated services or functions to investors, generally take on legal obligations*. In what may be* an attempt to disclaim those legal obligations*, many DeFi promoters disclose broadly that DeFi is risky and investments may result in losses, without providing the details investors need to assess risk likelihood and severity.*”

In Part III, Crenshaw drops the hammer. Using language that could not be more clear, she effectively calls virtually all existing DeFi projects illegal. Here’s the key passage:

For example, a variety of DeFi participants, activities, and assets fall within the SEC’s jurisdiction as they involve securities and securities-related conduct. But no DeFi participants within the SEC’s jurisdiction have registered with us*, though we continue to encourage participants in DeFi to engage with the staff.”*

Let’s summarize what’s being said here. If your DeFi project has characteristics of securities (almost all do) and it allows US investors to participate (almost all do), you need to register with the SEC (and none have). Failure to register with the SEC in this context is blatantly illegal conduct, and it has the power to stop it. People are still being charged for illegal initial coin offerings from the last crypto peak – here’s an example from early September:

The Securities and Exchange Commission today charged Rivetz Corp., Rivetz International SEZC, and Steven K. Sprague, the President of Rivetz and CEO of Rivetz International, with conducting an illegal, unregistered offering of securities through an initial coin offering.
According to the SEC's complaint, between July and September 2017, the defendants offered and sold digital assets designated as "RvT tokens" to the general public, including U.S. investors*, for the purpose of capitalizing Rivetz's business.*”

In Part IV of her statement, Crenshaw cuts to the chase:

That being said, for non-compliant projects within our jurisdiction, we do have an effective enforcement mechanism. For example, the SEC recently settled an enforcement action with a purported DeFi platform and its individual promoters. The SEC alleged they failed to register their offering, which raised $30 million, and misled their investors while improperly spending investor money on themselves. To the extent other offerings, projects, or platforms are operating in violation of securities laws, I expect we will continue to bring enforcement actions**.**”

She goes on to say that her preferred path is not through enforcement and that she does not consider enforcement inevitable. That’s a fine hedge to explain why only certain people will be charged by the SEC in the coming years.

How can existing DeFi projects get right with the law? In Part V, Crenshaw lays out two main concerns: transparency and pseudonymity. DeFi projects need to be far more transparent with investors about governance and operations, anti-dilution rights, and the distribution of benefits across various classes of investors – all the things a typical registration filing would cover. The SEC also objects to the pseudonymous nature of DeFi participants. Currently, transaction volumes can be faked, bots can collude to drive up values, insiders can leverage their information asymmetry without proper disclosure, and money launderers have free reign. According to SEC, all this needs to end. She goes on to say exactly that:

I recognize that in some ways DeFi is synonymous with pseudonymous*. The use of alphanumeric strings that obscure real world identity was a core feature of Bitcoin and has been present in essentially all blockchains that have followed.* But in the U.S., investors have long been comfortable with a compromise in which they give up some limited degree of privacy by sharing their identity with the entity through which they trade securities. In return, they benefit from regulated markets that are more fair, orderly, and efficient, with less manipulation and fraud.

But…doesn’t that effectively end DeFi as we know it?

Predicted signs of the coming rapture have taken many forms - stars falling from the sky, seven-headed beasts bursting with rage like Mount Vesuvius (and locusts, and blood rivers, and lightening storms, oh my!). The SEC has posted a sign that requires very little in the way of interpretation: it is time for DeFi to get its house in order. Those in the crypto world may want to finally take notice of the bell-ringing crazies in the sandwich board signs proclaiming the end is nigh.

submitted by /u/StablecoinsFraud
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source https://www.reddit.com/r/btc/comments/qvg9ij/httpsdoombergsubstackcomptheseccrackdownondefiisim/

Cryptocurrency Ponzinomics | How to Spot Crypto Scams

Cryptocurrency Ponzinomics | How to Spot Crypto Scams submitted by /u/salchipop
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source https://www.reddit.com/r/btc/comments/qvhmkl/cryptocurrency_ponzinomics_how_to_spot_crypto/

Like Bitcoin, Everything Important Is Proof-of-Work

Like Bitcoin, Everything Important Is Proof-of-Work submitted by /u/CryptoCurrencEEE
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mako - a full Bitcoin implementation in C

mako - a full Bitcoin implementation in C submitted by /u/binaryfor
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