Welcome to the Daily Crypto 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 The prior exemption for karma and age requirements is no longer in effect.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 Crypto 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.

Hey all, just starting a new job and I'm trying to have them pay me a certain amount in bitcoin. I use strike and have my account number and routing number but my employer is asking me for a city state and zip code. I don't see any of this information on strike at all. Would anyone know if I would be able to find this information somewhere or if I can tell him I won't need it? Do you think if I contacted strike that I would be able to get that information from them? I would really like to have things automated as it makes my life easier. Any help would be greatly appreciated. Thank you in advance!

Ripple's XRP token experienced a dramatic 96% surge in price following a significant court ruling in its favor. The court determined that Ripple's programmatic sales of XRP do not constitute investment contracts, a partial victory in its prolonged legal battle with the U.S. Securities and Exchange Commission (SEC). However, the court also ruled that institutional sales of XRP did violate federal securities laws. This mixed verdict has broader implications for the regulatory status of various cryptocurrencies and how they are classified under securities law. Ripple's victory provides some clarity and optimism for the crypto industry, particularly regarding the classification and regulation of digital assets​

Infrastructure plays a vital role in any industry. Infrastructure related coins which support existing core Blockchains will have high growing demand for their utility as crypto industry grows. It is very hard to guess what coins or what sectors will grow in demand. So it is a good idea to have a mix of leading coins in different infrastructure plays.
For crypto to grow, there are various things that are being created at infrastructure level- Layer 2, bridges, oracles, liquidity providers, computation networks, data storage etc.

Here is a web 3.0 crypto coins list that I found which provides infrastructure support to existing core Blockchains.

https://preview.redd.it/eowduhwzhqbd1.png?width=1133&format=png&auto=webp&s=a36adb7ffb2b781f8fe62d9de9aa3ced8528985e

Chart Source: https://botsfolio.com/crypto-portfolios/Web3-Infra

Beware of SatoshiSwap (SWAP) and the Satoshi Street Bets company: This Cryptocurrency developers Have Stolen Everyone’s Money!

Hey Redditors,

I want to warn everyone about a cryptocurrency called SatoshiSwap (SWAP). This project has turned out to be what I believe is a massive scam, and it's crucial to spread the word to prevent more people from falling victim to them.

What Happened:

• Initial Hype: SatoshiSwap was aggressively promoted by Satoshi Street Bets with David Gilbert at his head as the next big thing in the crypto world. The team promised innovative technology, high returns, and a bright future. Many of us were convinced by their flashy website, whitepaper, and route plan.

• Investments: A lot of people, including myself, invested significant amounts of money, trusting the team behind SatoshiSwap first and then their meme coin. The price initially skyrocketed, making it seem like a legitimate investment.

• Red Flags: After the initial hype, price of the coin tanked and things started to get suspicious. Communication from the team became sporadic and then completely absent, deadlines were missed, and their promised developments never materialized. When questioned, they gave vague, evasive or outright aggressive responses.

• Funds Blocked: SatoshiSwap developers have blocked all funds, promising to relaunch on the Solana Network. However, they have missed every self-imposed deadline. They have blocked communication between investors and ban anyone who asks questions from their platforms.

Impact:

• Financial Losses: Many of us have lost hope in recovering the substantial amounts of money invested. For some, it was their life savings, and the emotional and financial toll is devastating.

• Trust Issues: This scam has shaken our trust in the cryptocurrency community. It's a harsh reminder of the risks involved and the importance of thorough research before investing.

What to Do:

1. Report It: If you were affected by this scam, report it to the relevant authorities in your country. While the chances of recovering funds are slim, it's essential to raise awareness.

2. Warn Others: Share your story and experiences on other platforms to ensure more people are aware of SatoshiSwap and other potential scams.

3. Research: Moving forward, always conduct extensive research before investing in any cryptocurrency. Look beyond the hype and marketing, and seek out independent reviews and analyses.

4. Stay Vigilant: Be cautious of projects that promise guaranteed returns or seem too good to be true. Scammers are becoming increasingly sophisticated, and it's crucial to stay informed.

Let's support each other in these challenging times and work together to create a safer crypto community. If you've had a similar experience with SatoshiSwap, please share your story in the comments and join our telegram channel where we're getting to get together. The more information we have, the better we can protect others from falling into the same trap.

TG: SWAPunoficial

Stay safe everyone

Last week I got an email from Kraken saying that they became licensed by the Bank of Ireland as an E-money institution (EMI license). This license is automatically valid and acknowledged by all other EU member states.

In practice it means that every EU customer of kraken has their own "bank account" with their own IBAN. So if someone is making EUR denominated deposits to their kraken account they are now making a transfer between two accounts of their own. The account is in your name, it supports SEPA instant transfers and all regulations and protections that would be applicable to a bank account apply to this as well. The implications are that if I parked say 50k Eur into my kraken account (with an intention to buy some crypto later) as long as it is still FIAT all protections apply.

I welcome this change and my regular bank can no longer easily deny my transfers to Kraken. It is also much safer for a regular crypto investor in the EU.

Disclaimer: for the crypto portion of your holdings these are still not regulated and thus the above-mentioned protections do not apply. So it's is safe to hold FIAT in your kraken account but it still might the reasonable to withdraw your crypto assets.

When people think of quantum computing, they think of some super computer in a scifi movie that has incredible chip in it to solve anything.

They even think it could have the power to easily solve something as astronomical as figuring out someone's private key.

When in reality, quantum computing is not a multiplied or stacked processor, but a new form of computing architecture that doesn't use binary, and really is a different way of manipulating data. So this new form of computing can create new levels of efficiency for certain types of computations, but not all of them.

https://preview.redd.it/yd3oeqb7dqbd1.png?width=2400&format=png&auto=webp&s=a7472322cf1817a85316b9440ae514c447b92718

When it comes to cracking things, it could still be more efficient in brute force, like in guessing something a little simpler like a bank password (albeit, it will be an expensive method), but not guess any time soon something as astronomical as guessing a private key. When it comes to breaking encryption, it may work to some extend at breaking asymmetric encryption, but not so great at breaking post-quantum updated asymmetric encryption and symmetric encryption. So updating to quantum resistance isn't that difficult, and definitely much easier than cracking a key.

Quantum may be more efficient at improving blockchain than at cracking it.

Quantum computing isn't good or efficient at everything.

It doesn't work in the same way as traditional computing where it's just good at solving everything.

There are some algorithms and certain problems much better suited for quantum computing where it will perform better, and some not so much.

Quantum computing's specialty isn't in cracking private keys, and it's not where you would be able to see its best performance.

However, combining quantum computing with AI, using simulations, efficient use of data, and you could use it to vastly improve blockchain. It could even be used to improve the security of a blockchain, smart contracts, and other elements.

Solving the trilemma:

There is the potential of this new form of problem solving, being able to be used towards solving the trilemma. What quantum can help is in improving decentralization, security, and scalability of blockchains.

-Security

What people often forget, is the same powerful tool they are afraid will breach their security, can also be used to improve the security of a blockchain. Whether directly or in a layer 2.

We probably won't see that happen for a while, because to use quantum computing to secure a blockchain would be a massive overkill. Blockchain is already vastly secure, and takes very little to exponentially increase its security, and it doesn't require any special of computing power to make chains quantum resistant.

- Scalability

Blockchains with their nodes, miners, validators, can potentially struggle in having a network keeping up with congestion and being able to validate high volumes on transactions in a timely miners.

A lot of it has to do with the hardware and the mechanism of the network. But quantum computing can change some of the architecture on the software side and boost the efficiency of some aspects of a network.

-Decentralization

Quantum computing could be used to close the gap between big validators and small ones, and also help in ensuring a network is more decentralized.

In the same way that extra efficiency can help with scalability, it could be used by blockchains and L2s in creating more decentralized protocols. At the same time, smaller miners and validators could also have a chance at becoming a little more competitive and closing the gap.

At least that would be the case in chains that are aiming and pursing a system that's more decentralized. Chains that aren't willing to push this, could allow quantum computing to do the opposite, and help just the big miners to be even more powerful.

It's really down to the chains that are actually willing to solve the trilemma. Quantum computing could be the tool to help get there a little faster.

The trifecta of technologies:

We are heading for an era where we will have AI, blockchain, and quantum computing.

This trifecta of technologies could be combined to really open up a world of new technological leaps in problem solving.

View Poll