Bits.ca – Bitcoin & Crypto Currency News & Resources

submitted by /u/Biyamin [link] [comments]

BEFORE everybody starts commenting “just get one and stfu”, i’m a teen with no job, who puts their spare launch money into crypto, and before the energy crisis used to mine with their gaming pc. I really like ledger, so i’d like to buy one. The nano S would be 100% fine if not for the fact that i basically do every crypto trade on my iPhone, which really teases me to instead save for the nano X again, i don’t have much in crypto but i really don’t want to loose the one I have, which as of writing this sits in coinbase and binance. for reference, if i sold all my crypto right now i’d be able to buy a nano S, but it would stay empty for a while, because again i don’t have much cryptocurrency as of writing this thank you for your help submitted by /u/L3App [link] [comments]

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 The prior exemption for karma and age requirements is no longer in effect.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.   Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.   Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily General Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/CryptoDaily- [link] [comments]

Binance is different from Coinbase in terms of organization structure. Coinbase is a public company that its financial status is transparent. It reports earnings every quarter where you can find out their balance sheet, cash flow, revenue, credit, the total number of issued shares, who owns how much of the shares, etc. I am not saying it's not possible for Coinbase to go bankrupt, but its financial state is not a black box. ​ Instead Binance has a similar financial structure and does the similar business with FTX. The only difference is that Binance doesn't have an Almeda sitting in their backyard. They both run a CEX, issued a token that counts for a big part of their balance sheet (God knows exactly how much it counts), spent a lot of money on dealing with regulations/sovereign, advertisement and acquisitions. The both of the CEOs are pretty much same type of shady person. Most importantly, the financial state is a completely black box. Imagine that one day when BNB becomes a non liquidate asset for whatever reason, wouldn't Binance be just like today's FTX? submitted by /u/NikkiMyCat [link] [comments]

This may be a bit odd but I still think that the amount of similarities we have got in this situation can't be a complete coincidence. Since CZ exposed SBFs scam (and rightfully so), his own game-plan seems mirror a lot the same game-plan from SBF earlier this year. Gaining trust from customers by presenting their transparency and "good" reserves, also doing bail-out of other partners in crypto. All that while your situation just worsens in the back. When LUNA collapsed earlier this year, SBF seemed to be the one person coming out to "help" struggling crypto firms and he was praised for that. Everyone seems be be struggling except FTX. Now we obviously know that all that was just a orchestrad play to gain trust and basically lie to us. Right now there are some similarities with CZ too: Talk about the strength of your own exchange through proof of reserves (which seems be not so detailed at Binance as liabilities are mit even included) Making a whole plan to bail-out other struggling crypto companies. They even once said to purchase FTX but dropped that after just looking at their balance sheet for a few hours. CZ tweeting a lot of shit to gain the trust of people (which mostly backfires as his false claims against Coinbase) This all may be some heavy speculation but still the similarities are there and I would say to not rely on any centrakized exchange right now, no matter how big. submitted by /u/partymsl [link] [comments]

submitted by /u/esporx [link] [comments]

As per the title. I have finally got myself a cold wallet and plan to move the majority of my bags straight onto it. I DCA monthly with the occasional extra buy here and there. I've checked and Ledger support almost all of my tokens, had great reviews and seemed like the best choice for what I needed (cold simplicity). Also got 10% off in a Black Friday deal on the official site which was sweet. I've heard the initial setup / operation can be a little confusing at first but I'm fairly tech-savvy so should be OK. I also love learning anything new like that so hopefully be an enjoyable experience. Are there any cold wallet owners with nuggets of wisdom to share on setup, safekeeping, daily operation etc? I've read numerous things at different times but having some direct answers all in one place would be great. As always any and all comments / opinions welcome. Thanks in advance. submitted by /u/KnackeredParrot [link] [comments]

submitted by /u/alecz123 [link] [comments]

So like probably a lot of people recently I got myself a Ledger. Setup complete - let’s get those funds off of this dirty Cex. Well apperantly not. After putting in E-Mail verification and 2FA it‘s just submitting… 1 min, 5 min, 10min. Nothing happens after that. Tried it multiple times over the day. Also what I found weird normally you can just copy and paste the verification codes into binance. I can’t anymore which is super inconvenient because if you tap out of the mobile app more than once it resets and you have to start the transaction over again. Anyone else having similar problems ? submitted by /u/Alarming_Associate47 [link] [comments]

I noticed many people bring up certain points as a bearish case for Moons and other part of people are endlessly bullish. I tried to make this post to amend both sides and bring in some perspective into Moons that might help us forward and tried to look at matter through eyes of both sides and that even when bringing up bearish points not everything is black and white. 1. Moons are centralized Moons are centralized, top 20 holders hold around 10m Moons out of 106m circulating Moons Reddit can at any point discount them and pull the plug but that seems highly unlikely. Reddit can change distribution rules as we've seen before and polls can be veto-ed pros: Reddit is one of the biggest social networks and gives legitimacy to the project cons: Reddit can pull the plug on the project and top holders can dump their huge bags on the market at any point 2. Moons no longer have hard cap of 250m Reddit has shown that they can change terms on which Moons are distributed. New distribution rule states that number of Moons distributed to users will decrease by 2.5% each round until Moons reach a steady inflation of %1 Yearly. It is hard to calculate when exactly will this happen, but probably in a decade. pros: This insures that distribution continues even at the tail end of distribution given that Moons main use case is governance. The said 1% yearly inflation once reached is actually not a lot and since so many Moons since start are lost, even with this 1% yearly inflation it will take many years to reach the original 250m cons: This affects perceived scarcity of Moons 3. Monetization of and introduction of Moons made the quality of the sub drops As someone who's been using reddit for a long time and been here when this sub when was made I can say that quality of reddit as a whole dropped with huge influx of users across the entirety of the platform over the past years. pros: It got many people to stop lurking and start being active and earning Moons and get something in return for their contributions. Which is ahead of any social app that only makes money on users. cons: Shitposting got worse and some people started identifying as Moons farming degenerates 4. Moons are shilled inside this sub constantly Moons like BTC are common unifier for us. No matter which coin or project is our favorite, we all hold Moons. And after recently voted proposal to exclude small karma earners who don't have their vault open. We can see that 90% of active users have their vault open and earns Moons. pros: Creates a self fulfilling prophecy and will help and make Moons moon. Getting in more and more people into Moons create a huge flock of people spreading the word about the project. cons: Shilling is bad in it's nature and can make us overlook some important points 5. Moons are helping make echo chamber worse Reddit is notorious for creating echo chambers and drowning out opposing opinions. Monetization of posts leads people to posting more things others will agree with. 6. Moons have no clear roadmap Moons have no real roadmap and we get no feedback from Reddit. Changes are dropped out of the blue. Mainnet, CEX listing and any changes. pros: Developers can work in silence, project isn't living on hype and promises cons: Communication is important and Reddit don't reach out to get feedback from users 7. Moons got people to make up stories just so to get Moons and is hard to distinguish real ones from fake This is a common one, there used to be a problem with self stories, now it's sharing some improbable events 8. Moons have little or no real world use cases? Often people mention this which I don't agree with. Moons main use case is governance and voting on polls. There is also a lot of potential ones in the future besides governance and tipping like renting banner or potentially integrating Moons with future reddit NFT marketplace. pros: Moons have a real use case even if it's tied to voting on an internet forum (biggest crypto forum on the internet) which is more than many projects out there cons: Maybe people outside reddit won't care much about this use case and whales can flip votes pretty easily if they would stick together 9. Moons are a bad social experiment pros: It could be said they are a social experiment, but I would not classify it as bad at all. They are slowly but steadily forming their own small ecosystem and with reddit potentially integrating it with it's NFT marketplace, could become a part of something bigger. If successful they can change the way people see and use social apps. cons: Do moons change how people upvote, act and post here? Yes. 10. Moons make people dream of getting rich and exchanging it all to FIAT This is obviously not ideal since Moons are a governance token and crypto should be what we think the future holds for the world. Not much of a revolution if we revert to the system we are trying to escape from. pros: keeps people hopium levels high enough to keep them engaged cons: can get everyone carried away way too much and set unrealistic expectations All in all I am some who is very bullish on Moons but I wanted to shed some light that things are not black and white even when building up bearish case for Moons there is a silver lining in it but also some pretty valid and important points are being made. ​ https://preview.redd.it/4m0i4j1irq2a1.jpg?width=2048&format=pjpg&auto=webp&s=85a065aff185d79ce2651b5cbbc3b473071312da submitted by /u/meeleen223 [link] [comments]