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kyoukage01

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  1. Cryptocurrency Market Monthly Updates - Based on CFGI (Aug 10 - Sept 8, 2021) Cryptocurrencies in general were enjoying bullish trends during the previous days, spurred on partly by the fact that yesterday was a major historical milestone with El Salvador officially becoming the first country to adopt Bitcoin as legal tender alongside the US dollar. But just a few hours ago, that expected bullishness was shattered with Bitcoin plunging to around $47,000 today from $52,000 yesterday, pulling most other cryptocurrency prices with it as expected. The cause (for me) is currently unknown. The CFGI index is currently displaying a 47 neutral value - quite a dangerous time for day traders. Either prices will fall further as fear grips the market or this is merely a short-time adjustment and the bullish trend continues; extreme caution is advised today when trading or investing. Here is the latest market price for the top 10 cryptocurrencies from CoinMarketCap. Most of them pretty much follows the trend in the CFGI index at the moment. (topic updated with permission from the OP)
  2. UPDATE: Cryptocurrency-based "play-to-earn" games are slowly becoming more popular, owing to the challenges posed by the pandemic to the population at large, who has to deal with lockdowns causing them to be isolated and in need of a pastime and/or suffered setbacks with jobs and livelihood. The idea of getting to play computer games to entertain oneself AND get paid while doing it has always been a long sought dream of hardcore gamers: with blockchain-based online games, this has now become possible. source: https://www.coindesk.com/learn/gamefi-how-to-earn-crypto-playing-games-online/ This is now especially true in one particular country. Games like Axie Infinity are now becoming such a craze in that country that other companies are now getting encouraged to develop their own blockchain-based games to market over there. https://old.coindesk.com/video/what-to-know-about-the-play-to-earn-phenomenon-in-nft-gaming Note: You'll need to click on the link to watch the video.
  3. UPDATE: A few days is now left before El Salvador's anticipated official adoption of Bitcoin on September 7. Among the recent news related to the government's planning stage, the $150 million fund allowing for faster conversion of BTC to USD among the local population has received an overwhelming support from its Congress. https://www.reuters.com/technology/el-salvador-congress-backs-150-mln-fund-bitcoin-ahead-adoption-2021-08-31/ Meanwhile, some El Salvadoran traders are having misgivings about the whole Bitcoin and cryptocurrency concept by arguing that they know literally nothing about it, and the government has taken little steps to educate the masses on the advantages and use of cryptocurrencies. IMO, one would wonder how come the traders did not try to educate themselves on their own initiative over the internet and especially on online forums like Cryptotalk instead of waiting for someone else to do the educating for them 😁 . https://www.reuters.com/technology/we-dont-know-it-salvadorans-fret-over-looming-bitcoin-adoption-2021-09-01/
  4. Well, not on the level of this year's first quarter, but still bullish nonetheless. Investors looking for cheaper coins have lost their chance for the time being πŸ˜‚ . Question now is how high up the prices will go for us to sell before prices go down again due to another fear market. Not yet, probably. Various ETH-based platforms, stakeholders, whales, etc. might be still observing the market before making their moves.
  5. Maybe the reduction in ETH's gas fees isn't as instantaneous as most people think. A couple of months or so should be enough time to observe whether the EIP-1559 update will affect ETH in any way. A Bitcoin analogy would be its halving - after a change to its supply, a few weeks or months of waiting has to be made before prices start to rise. We should expect a similar change with ETH.
  6. UPDATE: There is now an ongoing US bill that seeks to regulate digital currencies (crypto in particular) and crypto users aren't liking it. https://techcrunch.com/2021/08/06/crypto-biden-amendment-infrastructure-bill-proof-of-work/ Highlighting the issues being tackled in the bill, we have the ambiguous definition of crypto brokers (who can be subjected to legal requirements such as tax reporting), and the bias of favoring POS over POW. Should the bill be passed into law at its current state, there will be dire consequences for the US crypto users and the crypto community as a whole. Therefore, amendments are still ongoing to fix some of the ambiguity and loopholes of the bill. But whatever the resulting final draft it will be, there will be some changes in the crypto market once this bill gets passed into law. Be prepared.
  7. I've been observing the CFGI chart these past few days, and I think the hope for a bullish trend for this moment has been dashed to the rocks by a fresh wave of negative news (like this one) that still keeps nervous traders and investors on their toes. Today's CFGI value is displayed at 52 and the chance is high that the neutral values will keep on going for a few more days or so. Whether it will rise or nose-dive again, I still don't know. At least the crypto market has gotten out of the consistent fear rating for the time being.
  8. IMO, Yobit (or whoever) should at least try pumping the token while we wait for further announcement regarding forum improvement. The lack of trading volume for the token these past weeks is very worrisome indeed. This is going to hurt on investors' confidence in the coin (if not already), if the current situation goes on.
  9. After a quick rummaging on Google to verify your statement, I got this: source: https://www.newsfilecorp.com/release/82513/Claim-Agreement-Aims-to-Be-the-OneStop-Decentralized-Finance-DeFi-Service-Network Looks like you got the answer correct. I'll update the topic post shortly to reflect on your answer. Thanks.
  10. After bombshell announcements from late last year to early this year regarding major companies' adoption of cryptocurrencies, Amazon is poised to be the next behemoth for taking on cryptocurrencies as part of its system. Or so it seems. Just a couple of days ago or so, a report suggested that there are plans for Amazon accepting Bitcoin before this year ends. But just a few hours ago, Amazon released a new statement denying that rumor. The article where the positive news came out is in this link: https://www.cityam.com/amazon-definitely-lining-up-bitcoin-payments-and-token-confirms-insider/ The article where the company denies that report is here: https://www.reuters.com/business/retail-consumer/amazon-denies-report-accepting-bitcoin-payment-2021-07-26/ So, what's the real deal? Is the company going to do it or not? Meanwhile, the news made a significant effect on the crypto market. Bitcoin has finally broken out of the $30,000-ish rut and is now touching the $40,000 mark again after falling out from the $60,000 ATH. Amazon's (rumored) move is being touted as the reason for the rise, but as of this writing, the company's denial has yet to make its impact.
  11. Please check out first the date this topic was created: August 7, 2020. Don't worry, I've learned much since then. This topic is not just for me: the topic is also for the benefit of newbie crypto users who still have no idea of what DeFi really is. Maybe at a future time, I'm going to update this topic with more detailed articles (links) explaining DeFi itself and its various workings.
  12. KYC - I'm among those who wouldn't want to provide additional personal data πŸ˜„ . Phone verification should be enough, like the registration procedures on some other websites (Google Mail has it). Please make it one phone/mobile number per account - multiple accounts of the same person on the forum are prohibited after all. 300+ - I understand, thanks for the clarification. Come to think of it, even if the requirement is to be raised to 300+ characters, spammers will still find a way to reach that quota and the forum will look even more messier than before. Mobile app - Wasn't there a time when @cryptoya11 submitted a mobile app for this forum? What do you guys think of that? Hmmm, adding to what is already available, what I'm thinking right now is this: Reputation Cheating - for low quality posts that somehow get high and/or lots of positive ratings without deserving it Malicious Info/Links - for scam information. Links to phishing and/or malware-filled websites are also included Other Offenses - for anything else out of the ordinary, like that one time I reported a lewd avatar of someone I might update this post if I can think of anything else in the meantime, or if somebody else can think of another suggestion. About the "Inappropriate Language" option - I got lectured by Bigpat one time due to reporting a Russian post, but it turned out to be a big misunderstanding. (I can invite you to that PM of ours if you want to see the details.) Anyway, I think it goes like this: I report a Russian topic that was written in the English section and labeled it with a 'inappropriate language' message; a mod took swift action and moved it to the Russian section while tagging it with a moderation point; then another mod (Bigpat in this case) saw the tag, saw my message, thought "Why is this tagged 'inappropriate language' when it's already in the proper section?", and oh boy, good thing he PMed me first before I get skinned for mislabeling reports, which I never did (so far). Any safety measure for a scenario like this not to happen again with that report option, especially with the currently available English/Russian language? Also, any safety measures against false reports? Especially now with the increased number of options? Hmmm... this is in stark contrast to a previous suggestion somewhere of raising the required number of posts to 1000 (which can be automated by the forum's system). In the case of your suggestion, things are going to be done manually. One good thing about your suggestion is that accounts that are made just for the occasional airdrops from Yobit has no chance of being used for shitposting for profit elsewhere because mods will be personally looking at their profiles. Not bad of a suggestion actually, but this will fall down to whether or not the mods can or are willing to do such a thing.
  13. Desais does have a point here. Payments for posts should be restricted and may be even increased to 300+, but we shouldn't get penalized either for posting less than the required characters as long as we add to the discussion and haven't broken any rules otherwise. Forumers should have the freedom to choose without the fear of being blocked/banned outright. Follow the strict guidelines for payment options, fine. Don't follow, but still being able to post decent comments? Fine, but you won't get paid for posts either 😁 . @Desais Still no "Others" option. πŸ˜… Why was it removed anyway? A bit of an oversight, perhaps? Whoops, my mistake. There really wasn't such an option in the first place, sorry πŸ˜” . But it would be nice if "Others" will be added to the list.
  14. Social media can also play a part in the market's price manipulation. One prominent case is Elon Musk. Wait 'till he makes another bombshell tweet this week or the next and see how the market (and possibly the Wyckoff model) gets screwed up again 😁 . (Whether it would be a good or bad thing, nobody really knows.) There may even be a possible ulterior motive now that Tesla can be considered a Bitcoin whale. That would ultimately depend on how many entities are responsible for the manipulation, and how they interact with each other. Less than a dozen big manipulators with the same agenda for that particular season might be able to pull it off, and that is a few years ago. How about today? Big companies are now looking into the possibility of engaging into crypto and they are fully aware of the risks involved. Price manipulators may not have as much freedom as before, because I think they know the market movement are constantly being watched by some bigshots in the corporate financial world. For example, I'm a whale and I'd like to try to dump a huge amount of coins, then buy them back if prices fall. Some company investor was able to read my mind and bought the coins just before they hit rock bottom. Now I won't be able to buy back cheap coins as much as before because somebody else has beaten me to it. To sum up, if there are too many participants doing mind games to each other trying to benefit from an extreme price manipulation, they should be able to cancel each other out because everyone is afraid to make the first move. But on the unlikely scenario where every one of them are united in their motives, significant manipulation can be possible. The first can prove to be very hard with prominent coins like BTC and ETH, while the second can be done with lesser-known coins.
  15. 1% TALK token interest rate + easy-to-achieve 100 posts to start forum spamming. Yes, the perfect recipe for TALK tokens to plunge down to what it is today. Sad. If drastic measures such as temporarily stopping BTC/token payments in this section and/or increasing the required token investments to the current 123456 investbox would have been done much sooner, the price drop wouldn't have been this grave of a situation. *sigh* It really has to become [1 sat = 1 TALK] before things start moving, huh? Pretty much late at this point, and the chances of the token reaching its first-day trading price level within a couple of years is close to zero. Unless the real solid features of the token like maximum supply value and token-burning are to be publicly shown. Until the token finally reach its desired value, BTC payments for posting probably won't stop (currently for the Russian section, and for the English section should payments here are to be restored). IMO, BTC payments only exist because token price has gone crap at some point.
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