Daily Crypto Markets Live Blog: Bitcoin Still In Consolidation (10/24/21)

in LeoFinance3 years ago

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Here is the post for the Daily Leo Talk. In preparation for the upcoming Microblogging features, this is a good place to start conversations, posts charts, memes, trades, or anything else that comes to mind.

Let us boost our overall numbers by posting lots of comments throughout the day. Spread the word to get others involved.

It is a great way to stimulate engagement.

We can think of this as a Reddit type engagement thread. We are not dealing with long form content so topics of discussion can start off with a top line comment. We can fill in from there.

We are open 24/7/365.

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CUBFINANCE

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CubFinance is hodling very well and steady in these volatile times. I feel the investor base is much more thinking into the long term and most of the Kingdoms have a good APY compared to other autofarms.

Also, @notak's new project to compare our APYs vs other BSC projects might be a very good marketing pool to attract new investors ! More in this post: https://leofinance.io/@notak/autofarm-s-returns-drop-as-minting-finishes

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Thanks for the link. I will have to help out by promoting that a bit.

We will see what the next few weeks bring. We were promised some good stuff for Cubfinance.

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Yea as noted in his response to my comment, the extra BNB dividends is unique to just us. However I am not sure how often those BNB dividends are paid.

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LEOFINANCE

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Well I caught your tweet and we have all been thinking this will happen. Any more thoughts on what might be the future of LeoFinance @taskmaster4450 ?

Something entirely independent from HIVE? An Hybrid?

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I dont think it will be independent. My guess is there is more integration into what is being developed. For example, I would bet that Leofinance will be involved with SpkNetwork and what is being produced on there. We will be able to host videos and whatnot.

The future, in the medium term, is #ProjectBlank. I think that is the true breakthrough. It is going to be a fork of the mobile app, so vital to get that out and the bugs cleared up. Hopefully that will take place this week.

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So what are the chances things are delayed as usual? I have a hard time getting any sense of a timeline with all the delays.

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would be nice to see leo and spk partner up. It is a good way to get more traction for both projects.

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BITCOIN

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Bitcoin ETFs are getting dangerous already raising over $1b in a few days. Hype is leading to a massive bull run. Important to note ETFs have no price impact on Bitcoin as none of the funds actually reach an exchange.

They're speculating on price and crashes will bet billions of profits to private firms and not Bitcoin investors.

I rekon a massive price correction will occur and wipe billions. I see there is some price action in alts so we might already be underway.

I really don't understand the futures market and how it would effect the price at all. I guess that's a project for another day. But since it never touches Bitcoin I'm trying to see why an ETF was so important to so many people if that's the case.

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Futures market is similar to options where you bet on the price (up or down). You pay a premium for the time and the value, time and volatility at that point in time. So in a way if you bought BTC, you would get a normal 1x on your money. While in the terms of futures, it is now like 5x or even 10x.

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so they are just gambling. how interesting. Gambling is a bad habit, one that sticks for long. So i am not expecting any of the speculative craze to go away anything soon. People don't mind losing money when there is the prospect for more

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I made a short video on it Here

Effectively its giving mainstream access as in the US investing directly into bitcoin on an exchange is still not legal.

It's creating a middle man and if it fails the cash doesn't go to block chain asset investors but profits of the Bankers and effectively the tax man.

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50 sleeping Bitcoin are moved.

Does this mean anything? Hard to tell but always interesting to follow.

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I don't think it means anything but maybe he found his keys?

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Bitcoin ATMs keep expanding throughout Central and South America.

Each one of these that goes out is another feather in the battle against the establishment. It also puts the name Bitcoin in front of more people.

We just need to keep expanding in every direction.

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It depends but the fees from the ATMs make it tough I think. I think Walmart put some BTC ATMs out but there is like a 11% fee for your change to be converted.

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Coinstar charges 8.9% for each dollar of USD coins fed into the machine. If you give it USD 100, Coinstar keeps USD 8.90. If you give it USD 1K, Coinstar keeps USD 89.00. That Coinstar fee gets expensive after a while.

If the Bitcoin ATMs charge similar fees, that could be a turn off to some people who have BTC.

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I am pretty sure it has similar fees if you consider how you pay for convenience and for it to be anonymous.

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Could El Salvador do something like this using Bitcoin?

Iceland could follow Canada's lead here.

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CRYPTOCURRENCY

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Now south africa taking the stance to block the crypto users in their banks.
https://ambcrypto.com/south-africa-bank-to-terminate-accounts-of-clients-offering-crypto-arbitrage-services/

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Banks don't exactly like crypto. It's an alternative to their control and the ability of fiat to keep the system going.

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Banks may not like crypto, but they like it more than politicians. At least banks can figure out how to make money from crypto. Politicians are blinded by their need to be in control, so their decision-making is suspect.

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they tried the same here in Nigeria but that did not work. People will always find a way.

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Anyone still holding their UNI tokens from the Uniswap airdrop?

According to some chartists, we are going to see this token wake up a bit.

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I didn't even take part in Uniswap so I never got the airdrop but it makes sense since it's one of the biggest Defi platforms on ETH.

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Does this mean we'll be seeing SWAP.SHIB on Hive Engine any time soon?

Good news for the SHIB holders among us, here and offline.

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It's possible but I don't think I will hold any unless a dividend token pays out some. I have a little bit of SWAP.DOGE from those tokens but I am not sure if I get them anymore.

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HIVE

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HIVE becoming a beneficiary of what's happening in El Salvador and El Salvador is now able to become a beneficiary of what's happening in HIVE. Hopefully the dominoes keep falling...

https://leofinance.io/@ijatz/success-first-sending-of-hive-to-a-salvadoran-btc-chivo-wallet

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Hive is going to show up in places people are not aware. We are going to see a lot of expansion taking place over the next year.

It is fun to watch. On a daily basis, it is hard to see. But step back and see how far we came in the last few months.

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HIVE consolidating between $.75 and $.80. Been that way for a couple weeks. This is a nice range to hang out in, especially with Bitcoin pulling back a bit.

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I think it's a good thing but I am still waiting on my nearly 75cents or so buy order on the internal market. It hasn't drop as much as I thought it would be and I might be converting some HIVE so I can use it later.

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Is it me, or does this Bitcoin pullback seem mild in comparison to earlier pullbacks? How much more time is needed before it can be truly said that this Bitcoin pullback is mild or not?

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STOCK MARKETS

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PERSONAL FINANCE

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Question.
How much do you spend on mobile? do you the expensive models or do you buy the mid range and change them often?
How do you control spending on mobile?

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I buy a medium range and keep it for atleast 3 years before upgrading, I make sure that I do not spend much on mobile.

I don't need new mobile phones, just phones which connect to a tower. I use my phones as long as I can until they die, break, or get rendered obsolete by thr march of time.

A few weeks ago I bought a new phone, but that was after 3 years with the previous phone.

Basic phones are fine with me. If I can go back to dumb phones, I would.

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I will define the function that I need on my phone and search which one is suitable in term of function and price. Now, I stay with Google Pixel 3 and I'm happy with it.

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I am fine with a mid range mobile. Unless I really need specific features, I don't mind an average one.

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I dont. Mobile isnt the top priority for me.

For me, I drop about $200 on a phone every 3-4 years and just have basic service. That is very low for the US.

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Personal finance is something that is overlooked in the cryptocurrency world. We are so accustomed to people taking care of things for us, that we tend to absolve ourselves of the responsibility.

Cryptocurrency gives us freedom. That also means responsibility. We need to learn about personal finance or be beholden to gatekeepers and intermediaries.

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Financial education is required if people want to do personal finance and that part is lacking in most of the public unfortunately.

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Financial education is left for the parents at home, but sadly many parents don't have the financial education themselves to be able to pass it along to their children.

The education is limited to topics such as saving money for a rainy day, pay yourself first, balancing a checkbook, and credit cards. That's usually as far as it goes. When it comes to showing their children how to make money work for them, many parents can't give their children that education.

So schools don't emphasize financial education, and the parents aren't always the best people to provide financial education to the children. That means we'reon our own to find our teachers and mentors.

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TRADING

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TECHNOLOGY

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NFTs

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Chinese investors and the players continue to stay in NFTs and Crypto despite the ban.
https://u.today/china-sort-of-bans-nfts-but-local-internet-giants-keep-entering-this-field

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Well I don't think China can stop people from buying through Defi. It's a bit tough to touch anything that is not centralized.

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DeFi

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The SEC has lost the plot, going after international businesses because they don't follow US law. How's that that make sense?

Terra is now suing the SEC lmao

God complex much? This is going to be interesting. I wonder what would happen if I started a project like Terra here in Australia which would be 100% legal and I could probably put in for government funding.

Would I expect a BS letter from the SEC too? Wtf are US politicians doing other than sleeping at the wheel?

https://www.coindesk.com/business/2021/10/23/terras-do-kwon-was-served-by-sec-new-lawsuit-shows/

Expect this to continue with cryptocurrency projects. The arm of the SEC, in their mind, knows no limit. This is where we need true decentralization.

It is also why one should be optimistic on Hive.

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I'm literally in the process of figuring out how to launch something. Crypto is legal here so long as it's not a rip off

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Ripping anyone off*

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Synthetic stocks were always going to be an issue and that is why I mentioned it in one of your previous terra posts. They will fight anything that involves the stock market.

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Terra is suing the SEC? Good for Terra! Usually it's the SEC suing everyone else and their crazy three-legged pets.

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ADAYield a new lending platform to lend, hold and LP your assets. Looks new so DYOR.
https://adayield.net/

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Is this a threat, or merely an observation?

DeFi needs to figure out protections, true. The question then becomes this: Who should help DeFi develop those protections?

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BLOCKCHAIN GAMING/PLAY2EARN

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YOu should unstake your MOTA in hashkings. They are changing up the seed drop system so make sure to do it soon if you want to enter the new pools.

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New game named crypto snake on which I posted about on noise.cash and it looks like there are lot of press releases for it too.
https://cryptosnake.game/

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SPLINTERLANDS : Q&A PERTANYAAN SEPUTAR SPLINTERLANDS SERTA TIPS & TRICK EQUALIZER GAMEPLAY
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https://bitcoiner.tv/video-splinterlands-qa-pertanyaan-s_7330bfa46.html #splinterlands

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MISCELLANEOUS

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REMINDER!!!

Get your #CANDIES before they world finds out about them.

If not, we might end up on the short end of the draw.

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Thanks. I collected my candies and diamonds. Do you think candies will ever run out?

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