Daily Crypto Markets Live Blog: Crypto Still Not Pushing Ahead (05/17/22)

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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I just noticed that the p-leo account is being used to curate.

Surely as an account that simply holds all of the native LEO that has been wrapped on Polygon, this shouldn't be happening, right?

Who is in control of the keys?

Is anyone else worried about this?

Is there anywhere this was talked about?

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I never looked into this. Who is the curation rewards going to?

This is something that I havent heard a word about.

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Use your connections to get answers to who has access because this is REALLY dodgy.

p-leo.

"Trust"?

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I dont know. Hopefully someone can bring it up on the AMA tomorrow. It is something that Khal needs to bring out in the open.

I have no idea who is curating the account. Maybe it is following some of the other voters.

Questions that have to be answered.

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I wonder, is it bad for it to curate?

(But perhaps it's like a conflict of interest...)

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I don't think it's bad for it to curate content but b-leo never did so and I don't think Khal ever mentioned that it should be curating content. That account is supposed to be just wrapping and unwrapping LEO to and from Polygon.

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Okay, thank you for clearing that out. I hope we get an explanation. Perhaps you need to ask on the AMA.

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Not bad to curate. The question is what happens to the rewards? What is being done with them since the account is for bridging.

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Yes, that's the question though. Do ask on the AMA for the answers.

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It is BAD.

It's meant to be purely an escrow account.

It's not the team's (or whoever??) money to use for curation.

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This is bad because it could look like someone taking money out of the @null account?

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Oh, never really noticed that but now you mentioned, I went around to see for myself and it is indeed curating contents.

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Is the LEO being staked? I would think that the LEO would stay liquid so people can go in and out of the pool.

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What do you think should happen for the bear market to end?

Note : it is very difficult to know the answer to this question, I was just curious about your opinion.

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A great deal of building would be good, like this, we can withstand the bear and be more positioned for the bull.

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Soon™

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It's good to hear that from you.

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I learned from the master on that one.

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I've been seeing this a lot lately. What's the significance of Soon™ ?

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It's just a joke because every time Khal is asked when something will be launched or released the answer is "Soon"

Related jokes are "Khalendar", "Sooniverse", "Sooner than soon" and so on

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That's interesting, you actually had that word trademarked :)

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That's a thought-provoking question and me short of knowledge doesn't know how to answer hehe. Perhaps just let it be and it will end eventually or the bulls have to step up and do what they do best - push the buy wall and maybe smaller players will follow suit.

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Bears and bulls are currently battling at 30K on the Bitcoin side. Someone will beat but which? developments in the markets can determine which one wins.

I don't think it will be with just buying or selling, the developments in the markets will be effective.

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developments in the markets can determine which one wins.

I agree. It would be really interesting to see how it goes from here. And perhaps the news about the reps of 44 countries meeting in El Salvador to talk about BTC will spice up things.

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I don't think anything will come of it. These meetings and discussions are promising for the future. But I don't think it will affect the markets in the short term. But if some countries among them say that they are diving into the crypto market, then something may happen, but I don't think that will happen right now.

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That's right though, it takes something bigger than that to shake things up. Nevertheless, hope that we are going to get through this season, no matter what :)

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I have no doubt that the bear season will surely end and Bitcoin will hit a new ATH again. But when.?

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Bear market?

It hasn't even begun mate.

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Hasn't it started yet? Many altcoins may face more problems in further declines. The fear that Luna has inflicted could swallow most altcoins in the next crash. I hope it never starts then.

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I don't worry much about bear markets as long as they are within the larger bull markets. Time frame matters.

I am not sure what type of bear market most analysts talk about. There are at least 9 levels of it, from the Grand Supercycle down to Subminuette.

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I am not worried about the bear market. But the situation of altcoins is in the middle, I think they can't stand any more drops. There will be many altcoins that will suffer the fate of Luna. That's why getting out of a bear market is vital for many.

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Altcoins are not created equal. For those with use cases and solid expansion, a bear market is a great time to grow the number of one's holdings.

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Depends upon who you feel a bear is.

There is a huge pullback already. So I would say bear is appropriate. Doesnt mean it is going to end anytime soon though.

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Doesnt mean it is going to end anytime soon though.

Thanks for this heads up, glad to have read it here and today and not expect too much and make certain preparations too.

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One last pump for the culture ples

(And for my options that are about to expire worthless very soon)

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Supply chain issues to be solved and people to start feeling that the economy is on the right track.

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Yes, it has something to do with the global economy at some point. But there were times when Bitcoin outperformed in situations like these. I think that the problems in the global economy may increase the interest in the crypto market. But the large sales of whales can negatively affect the price.

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We need a new narrative before we can pick up the pace. DeFi isn't as attractive to newcomers anymore and NFTs are slowly exiting the scene.

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I totally agree with you, innovations are needed. The interest in the DeFi and NFT sectors is decreasing, and especially what happened on the LUNA side has increased the trust problem. It's bad that there are bankruptcies due to algorithm errors, a lot of people don't know what an algorithm is. I get a lot of questions about this.

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DeFi isn't as attractive to newcomers anymore

Is that one reason for the added complexity of DeFi (especially DeFi 2.0)? Also, if DeFi tokens have lower APRs, doesn't that indicate that the token is more mature and thus more stable? After all, Bitcoin used in DeFi would only earn a few percent while a hypothetical UST2/LUNA2 would have an APR of 13,579%.

I think there is a market for people who want their DeFi simple, and that could be offered by CUB. Cub Finance can be retrofitted with all the bells and whistles of its younger siblings, but simple DeFi can still be an option for those who want DeFi benefits without the DeFi headaches.

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Unlike the favorite rhetoric of politicians and bureaucrats about economic inclusivism and poverty reduction, this meeting in El Salvador is real talk. Imagine representatives from 44 countries coming to El Salvador just to discuss the economic and financial advantages of BTC. Source

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The 44 countries might have awaken from their slumber and decided to do something and not just stay on the sidelines.

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I am thinking. Perhaps, mainstream adoption is coming sooner than we expect. 😄

!hivebits

Success! You mined .9 HBIT & the user you replied to received .1 HBIT on your behalf. mine | wallet | market | tools | discord | community | <>< daily

Maybe not mainstream adoption, but at least greater acceptance by more nations. Cryptocurrency as a whole benefits the Global South far more that it does the heavily financialized Global North.

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That's a good idea. The Standard of living in the GS is not so expensive. Given the access to cryptocurrency, this is a great way to grow one's capital.

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Hope you are right. It would be amazing when it finally starts to happen.

I think greater acceptance as mentioned by @magnacarta is more realistic.

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That's true though. It's taking a while and hope witness such while we're here on earth :)

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Praying that we will. 😊

Sadly, CBN was unable to find its way there.

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Why is that? How long will mainstream media take for granted this kind of significant event?

!PIZZA

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I was actually referring to CBN(Central bank of Nigeria) here in Nigeria.

There's currently a ban placed on cryptocurrency trading/transaction in Nigeria, thereby forbidding banks from any crypto related activity.

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I missed that. How I wish there will be a change of mind sooner or later on the part of CBN once BTC gained popular adoption.

It sure has in the country.

According to our survey conducted in early 2022, 33.4 million Nigerians, which accounts for 35% of the population aged 18 to 60, currently own or have traded cryptocurrencies over the past six months

The issue there is the government are looking for ways to control this technology, but all their effort yield no result, so they choose the other way. Even with that p2p trading is much on the rise than ever before.

Let's hope we get a crypto-friendly president later in the future to help with the current situation.

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That's sad but I hope they will wake up one day soon and welcome crypto in your country.

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I hope so too.

If not for p2p trading, crypto adoption would have been on hold after the ban.

It's a blessing in disguise for traders, but a loss on the government side. No tax or any form of charges from crypto trading, which can help grow the economy

I guess they are too old to understand what's going on.

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Almost under 250K. If we can get the comments on Leofinance to double or triple, this would really be a great way to enhance those numbers.

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Although I limit D.Buzz activity to my -.buzz account, I engage there as much as I can; mostly upvotes and comments where I can comment, although I recently started to reblog there as well. I even found a short-form post format which works for me.

Buzzes count as posts, too, so they will be included with the 100M+ figure.

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Historically my trouble has been with Resource Credits, but I'm good on that front.

Along with increased commenting, I've been upvoting even more than usual. During this time I've depleting my voting power at an alarming rate. If it looks like I'm not upvoting over the next day or two, this is the reason. I'll engage with comments, but I need to recharge my voting power for both HIVE and LEO.

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The same with me, I'm on the recharge so I'm feeling apologetic of not voting but it's necessary.

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Dont feel that way. If someone is highly active, they cannot upvote everything they see.

For this reason we have to spread it around. Keep the VP strong.

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Yes, working on to not feel that way.

For this reason we have to spread it around. Keep the VP strong.

Advice taken, thank you :)

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RCs are only an issue at the start but the VP issues are going to continue because of the lower prices and that means more dust (unless you vote with a higher weight).

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I hadn't considered that, but it makes sense that would happen. I'll need to be more careful in my upvoting as long as HIVE is priced where it is these days.

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Yep the same with me, was just talking with @ifarmgirl about that…

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Do not drop below 80% in my view. Keep it above there. It can be tough at times, especially when upvoting comments. However, you end up costing yourself and those you are voting more.

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At the moment my Leo VP is at 46%. I need to get it back to 100%, but after that I'll keep the 80% magic number in mind. Similar for my Hive VP.

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The lowest I have got to is around 60%.

I think that's going to take 48 hours+ to recharge back to 100%.

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Bitcoin took a hit. Now it is under $30K.

HIVE holding up somewhat well.

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Really proud of Hive. But we need to get to $1 again. Missed that spot

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Yes well we need buy pressure.

Hopefully some of the upcoming development starts to roll out.

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Haven't checked the charts but now I don't need to, lol! Glad to know HIVE is holding up good.

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Think long term.

We are all going to come out amazingly.

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Yes, definitely. And I'm less-bothered now with the prices compared to before.

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That is called progress.

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Oh thank you for that. It is "indeedy" as littlebee4 puts it, lol!

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There's a big fight in the 30K. Buyers Concentrate Under 30k, Sellers Concentrate Over 30K. Neither side wants to quit the race.

HIVE is doing pretty well.

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It is interesting to see who wins eventually.
HIVE is good :)

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HIVE is definitely good but it wouldn't be bad if it went down a bit :) then it can rise again :)

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Yep, and let us scoop a bit more of it before it soars.

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Exactly this will be great for me.

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And for most of us trying to time when to buy, lol!

I think it will be very important to see whether or not BTC can actually close over 30k or not because that will probably decide the direction.

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I agree with you and I think so too. The 30K has become very important psychologically. 30K has become important not only for Bitcoin but for the entire market.

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We might not be out of the woods yet, but plenty of alts have already corrected some 80%, thus the bottom might be close.

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REMINDER!!!

Get all those #CANDIES now. Think of all those you are supporting with your sugar addiction.

And no 12 step program required.

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9 more minutes 🥳💃🏻

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You are counting down to the wire. We are keeping you up late. The #CANDIE rush is too much for you to resist.

And I do think you get them while in bed. Your secret is safe with us.

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Hahaha just got all 40 of them 🎉🥳😁
It sure is, who can go to sleep without them 🤣😂

Not yet… but soon it is bedtime 😉
Night night 👋🏻😴

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Gotcha! LOL! Have a sweet night Jackie, your candies are safe :)

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She ate them already. She is a sugar junky.

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Can't blame her, lol!

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Or didn’t I 🤣😉

I do love chocolate, like most women do, I don’t remember the last time I actually ate a candy 🍬

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Thanks a lot @ifarmgirl… I put them in my safe to protect them 😋 can’t eat all at once hahaha

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Good girl, haha! They're good to be in the jars for the future hehe.

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Secured them well in the jar, thank you. Sugar's good when used with caution, lol!

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No way. With sugar, have to set your hair on fire and go for it.

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Haha, yeah? I'll take that from you, lol!

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Baldness is a sign of dedication.

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I think I have to share this thought with three people. They will be happy to hear this.

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Hahaha, they'd be proud too :)

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I have to believe you on this, lol!

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I have the sweet tooth to prove it.

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20 candies for the day. I need more sugar.

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No sugar here...

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Crypto payments are starting to appeal to people. A law firm in Dubai will now accept crypto payments.

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That’s a great start to get the idea of crypto under the people, the more they will encounter it in everyday life the better the acceptance will be. Still only baby steps…

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We just need them to start accepting HBD.

That is the crown jewel of it all.

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Yes, that would be indeed great.
More traffic to hive if companies would accept the HBD as payment.

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We still have to work on making it more viable for all parties. A lot of building needs to be done.

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And we are working on that… build stronger first 😉

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Yes we are. It is a collective effort. We need a lot more to be done in all areas. This is not going to happen overnight.

But each HBD put into savings or pHBD that is in the LP helps.

We just keep things growing.

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Ah, that would be really great if they start accepting HBD.

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I think a bit far fectched. We have a lot of work to do in the meantime.

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The idea is good though. And who knows, a few years from now, it will become a reality.

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That's great! Another one coming aboard the crypto payments ship. Time's changing and businesses must adopt or else they'd be left behind hehe.

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Wow! That's a great development!

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Dubai appears to be utilizing every opportunity to become a crypto friendly country.

I'm positive we'll keep hearing more news like this from time to time in Dubai.

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It looks like it's starting with BTC, ETH, and USDT so it's the usual top coins. I wonder if they will convert the crypto into stablecoins to maintain the fiat value.

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Grayscale is still pushing the SEC for a pot Bitcoin ETF. In the meantime they are unveiling a Futures ETF in Europe.

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The US doesn't like spot ETFs but they are open to futures ETFs. It's so backward that it doesn't make that much sense to me.

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Well we know Gensler doesnt. He keeps blocking it. I wonder how long until Grayscale takes legal action.

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Luna about to get forked(no pun intended). Airdrop to Luna holders

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I saw that but do we know what snapshot he will be taking? I feel that the airdrop will be heavily sold.

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It’s expected, anybody investing on Luna or the fork is just pure gamble

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I havent been paying attention.

Who is pushing the fork? Is it the community?

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Community was calling for a token burn and Do Kwon said OK, a fork it is then.

The whole Luna scandal is a joke at this point.

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You think it will be another chapter in crypto history like Mt Gox @jerrythefarmer?

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Feels like the drama is just getting started. Wasn't around for Mt Gox but this one seems a lot bigger in USD terms. We can't just drown a $40B market cap coin and pretend like nothing happened.

This one will surely be written down in the crypto history books but I'm 100% sure that the aftermath isn't over.

TerraUSD Crash: S.Korea Calls Terra CEO For Parliamentary Hearing

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That's 5 to 30 hours of life the Terra CEO will never get back. It won't be a fun experience on the wrong end of the questioning session.

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I am sure it is only the first country that is going to do that.

There will be others following suit.

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Yeah, governments all over the world are going to be after him.

This is going to keep building until it all snowballs on his head.

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Big joke, because why can’t you just burn it?

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Because it would benefit the people that bought at the pico bottom near $0. Knowing Do Kwon he would be very pissed if anyone made money on Luna except him.

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That’s some really messed up attitude. I have see. Some of his tweet replies and he seems very egocentric

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What will the community do with Luna. It seems like this is going to be a train wreck no matter how this unfolds.

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They try to make progress with simple plans. It is not possible for them to manage the crisis in this way.

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It seems like a dumpster fire.

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I think they need to find ways to deliver the project to the community or to someone else. Otherwise, the project goes to waste.

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I won't be surprised if things start growing gradually when the community takes over. Making proposal and letting the community decide what's next would be the best move.

That's real decentralization.

Him(Do Kwon) making all the moves doesn't help matter from where I see it.

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If Terra was a decentralized project, it wouldn't crash like this.
Centralization in the crypto market has pretty bad consequences.

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Yes it does.

Terras' token distribution is very much centralized that any other top project I have seen out there.

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That is sad... wonder too what the community would do. The founder's credibility is now really questionable. And ouch to this:

“This is an awful plan and you have proved you should no longer be in charge. We need a community proposal to introduce a burning mechanism to LUNA to restore confidence and bring on new investment. Anything short of this will be a waste of developer resources going forward.”

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I guess at this point, the best option for him(Do Kwon) is to step down, he's not helping matters with his plans rn.

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He sure needs to. It appears that his plan to fork has enraged more of the community than appease them.

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It has to be that way.

As long as things are not moving forward the way the community wants, his position will always be questioned, its either he gets his sh*t together now or lose the community trust which is already broken, but can still be regained if he listen to everyone but himself.

The first move he made was a turn off and Binance had to delist the token afterwards.

Seeing him still making sh*tty decision about where to go shows he has no practical solution to help the Community, thus the need for the community itself to step in and save the day.

They are the one pained the most with all that's going on.

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That's very true. And he can actually listen to them if only he puts his big E (ego) aside. Give the community the chance to voice out what they have to say, discuss with them and work with them to come up with a solution that would benefit the whole community.

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I guess he should seek advice from khal on how to run a community.

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I don't see a way out for Luna rn, at least not an easy one. I guess time will tell

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I don't think the fork is going to really do much without a solid plan. Either way, it's going to take years to solve and throwing away LUNA wasn't really a good solution as he already gave up there.

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Raoul Pal updated what is he doing with the recent crypto and equity sell off. Many are calling for much lower levels. Pal never sold anything according to his statements.

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Plan B claims new Bitcoin bull run coming up.

When it will take off is a guess.

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The 98k prediction he made for November 2021 turn out incorrect, perhaps, we can expect the 98k this year.

I personally don't see a bull or bear anymore, but the growth of web 3 will keep influencing the market price as noted, making it hard to see unimaginable lows like we've seen in the past.

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Hard to get the timing down with forecasts.

But never take any of these forecasts are taken with a grain of salt. There is no way to get any of this right.

We might get a run in 2023. Who knows.

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There is no way to get any of this right

That has been a thing with the crypto market.

You can/should never take any predictions seriously.

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No they are a roll of the dice. It is just something for entertainment value.

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He noted that he believes the growing interest in crypto and Web3 will influence a price surge in BTC in the long run.

An important analysis.

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If we have a bloodbath in the stock markets, I don't see how a bull run would start in crypto and the markets are just full of uncertainty right now. Either way, I don't think the bull market is starting so soon.

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Sunny Boi is nothing if not opportunistic.

He is offering to step in and make up for some of the losses on UST.

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He sure is and he seems to be good at it.

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He is full of shit. Nothing that he ever touched failed to turn to shit. Look at Steem.

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You said it right. I actually didn't know he sh*t Steem until I came to Hive.

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Yep. He totally destroyed any chance of success.

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Too bad, he seems to love attention for all the wrong reasons.

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A clout chasing move I guess.

Its uncertain what his true intentions are rn, but it would do tons of people good if his plan works out.

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I don't think adding 10 million is going to do anything to save LUNA. It's unsecure and it can be knocked off the peg again in the future.

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While FUD is still reigning due to the crashing prices of cryptocurrencies, these two financial giants are investing in the long-term prospect of digital currencies. Source

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Builders keep building and Wall Street is that.

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Surprising to read that these big names are now validating the longevity of cryptocurrencies.

Equity tokens? This is the first time I read about this. How is this different from utility tokens?

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I don't know but I'm going to give it a read, haha. Thanks for sharing.

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I am curious, but it's a long read.

From what I saw in the article, it looks like equities tokens are similar to investing in a stock. So you are betting on that team's future. Either way, I think it's just another way that people phrase the token versus coin argument.

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Yes, I am actually lost when I read that. In my mind, they are synonymous.

Will this action of the Brazilian Stock Exchange serves as a precedent for other stock exchanges to also consider BTC and ETH futures as part of their products? I wonder how will the market respond once I see this at PSE. Source

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The futures have been out for a while so I don't see anything too surprising about this and there are futures ETFs in the US stock market already.

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Yes, I have little knowledge about ETF, but BTC and ETH futures, that is something surprising especially if they will enter the Philippine Stock market. I am speculating they might revive interest in our stock exchange. For now, volume is falling and foreigners are exiting.

Here is a post that people should comment upon.

Give it a bit of love.

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Going there now, thank you :)

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I already dropped by it before I came here but I didn't really check out the comment section that much.

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Will do…

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PIZZA! PIZZA!

PIZZA Holders sent $PIZZA tips in this post's comments:
@rzc24-nftbbg(2/5) tipped @marvinix (x2)

You can now send $PIZZA tips in Discord via tip.cc!


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Is there a way to store multimedia on blockchain? Actual images/audio/video/etc. files, not just links to them at IPFS or other storage repositories?

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I have not come across any, but perhaps if not available yet, someone might be developing it hehe

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I think the speak network wants to do so but I am not sure if it's working yet.

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No I think there is too much of an issue with file size.

We already have large discussions about block size which dates back to BCash.

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That's OK, I was just curious. Even if we can't put them on blockchain directly, we should still be able to store them in a decentralized manner as well as employ tokenized file storage.

I was asking because in the case of video or audio the content could be transcribed to text and the text could be stored on blockchain just as posts are. Since that's the sort of activity that will take a while to do even with automated tools to assist, this would most likely be done as a paid service by enterprising Leos and Hivers.

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That is true. Having the audio or video transcribed certainly can live on blockchain.

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What are the 3 gaming coins that you would invest in for 2022?

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Not my thing much but I have SPS and LVL.

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Not my thing either, but I would consider these in no particular order:

  • PLN -- Pollen Loop Network. A number of other tokens are associated with it, and they are offered in what could be the largest diesel pool at Tribaldex (SWAP.HIVE:PLN). I've added liquidity there just for that reason.
  • LVL -- Level. It's an up-and coming project.
  • PSYBERX -- PsyberX, the first FPS (first-person-shooter) game in blockchain.

You asked for 3, but I don't think anyone can go wrong with DEC and SPS for Splinterlands.

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Where do you buy LVL?

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LVL is a Hive Engine token (as are PLN and PSYBERX). You can buy them using Hive Engine, LeoDex, or Tribaldex.

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OK. Thanks.

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Here is another article that is off to a good start. Lets hit it up with some more comments. @edicted usually makes the front page so a good one to fill up.

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Going over now…

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I am writing a series of articles about building value for HBD through different mechanisms.

This is in contrast to what I see with UST and the monkeying around with it. People focus upon the tokenomics exclusively instead of true business building or value creation.

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This series of articles about building value for HBD is an excellent idea. It could even be tied to @crypto-guides and LeoPedia.

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Yes it can be. Leopedia needs a lot of help.

Perhaps there is a way to step up the posting on there. I will have to ask Khal about that one.

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In the short-term, any Leo can tag a post with LEOPEDIA. This way searches can be made by those who maintain Leopedia so that the content can be added by them later.

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I think Leopedia needs to have definitions and be a resource just like Investopedia.

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Here is another good article to give a bit of love to.

It needs more comments.

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