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r/CryptoCurrency
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The leading community for cryptocurrency news, discussion, and analysis.
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A community for news and discussion about cryptocurrency finance.
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Welcome to /r/EthTrader, a 100% community driven sub. Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology.
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r/Bitcoin
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Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.
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r/crypto_currency
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Alternative source for CryptoCurrency, Bitcoin, News, Discussion & Analysis.
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r/dogecoin
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The most amazing place on reddit! A subreddit for sharing, discussing, hoarding and wow'ing about Dogecoins. The much wow innovative crypto-currency.
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r/CryptocurrencyICO
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r/Cryptocurrency & ICO is a hub for sharing crypto news & discussing new innovative ICO quality projects with proven utility.
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r/Crypto_Currency_News
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News means money in the Crypto Currency world. When new coins, products or platforms are released using Bitcoin, Ethereum, Monero or any related altcoin Tokens, the price of affected products can potentially move on the news.
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r/btc
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When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. This happened long before the creation of Bitcoin Cash. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations.
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r/Crypto_com
189k members
Crypto.com is the best place to buy, sell, and pay with crypto. Crypto.com serves over 80 million customers today, with the worldโ€™s fastest growing crypto app, along with the Crypto.com Visa Card โ€” the worldโ€™s most widely available crypto card, the Crypto.com Exchange and Crypto.com DeFi Wallet. FAQs: help.crypto.com
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r/CryptoIndia
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CryptoCurrency focused discussion in India
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r/CryptoCurrencies
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We're Crypto Reddit's Fiji water in a desert of censorship and agendas. Arguably Reddit's best source for uncensored cryptocurrency news, technicals, education, memes and so more!
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r/Crypto_General
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General discussion on cryptocurrency. May 2021 be a good year for cryptos
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r/Wallstreetsilver
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We are a community that loves Silver, Period. ||| Please follow our new twitter: @rWallStreetSilv ||| A mod has gone rogue with @WallStreetSilv, please report them to Twitter for impersonation. TY!
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r/Monero
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This is the official subreddit of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
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r/CryptoAirdrop
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Welcome crypto enthusiasts! Devoted to Airdrops and Bounties. Spamming other posts with your referral link or code is not allowed, if you'd like to share your link, please create your own post. All scam-airdrops get removed. Scammers get an instant ban. Only (ref)links directly to the airdrop are allowed, no links to your own(or others) airdrop collection, website, blog, sub or channel. Stay safe and happy airdrop hunting!
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r/AllCryptoBets
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subreddit for crypto, innovative projects, defi and new emerging markets discussion. most important: always do your own research and due diligence, nothing is financial advise.
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r/SHIBArmy
482k members
SHIBA INU (aka SHIB) is an experiment in decentralized spontaneous community building. The SHIBA ecosystem has three official coins $SHIB, $LEASH and $BONE.
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r/cryptocurrencymemes
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Welcome to CryptoCurrencyMemes! This sub is intended for the dankest cryptocurrency-related memes. Please follow the sub rules, remember to upvote and downvote, and have a good time!
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r/SafeMoon
295k members
SafeMoon is a human-focused technology and innovation business expanding blockchain technologies for a brighter tomorrow. #Web3MovementForEveryone ; Please read the information shared in the sidebar of this subreddit.
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r/ethereum
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Next-generation platform for decentralised applications. Dive in at ethereum.org
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r/CryptoScams
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To help those who have been scammed or who have been approached and want to know if it is a scam. *** Do NOT accept private messages regarding CRYPTO RECOVERY, do NOT reply to comments on posts claiming to recover crypto, and please send a modmail about users involved. ***
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r/NFTsMarketplace
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A place where you can buy, sell, promote, and learn more about NFTs! Share your work, tell your story, but most importantly, interact with others, it's the only way to find people that truly connect with your work.
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r/CryptoReality
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This is a sub dedicated to the pragmatic and rational examination of crypto currency and related technologies such as blockchain, De-Fi, Fin-tech, etc. Join this discord to chat: https://discord.gg/sEKCFCegp7 Follow on Mastodon: Amscream@mastodon.social, Twitter: @AmScream Blackout details: https://i.imgur.com/ngxLkX3.jpg
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r/FreeCrypto
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Get free Cryptocurrency like Bitcoin, Ethererum, Doge, and more!
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r/CryptoMarsShots
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This community is dedicated to share crypto assets that we can get Max Gains on it. Post new coins and tokens coming into the market. Post growing markets and share ideas. Be respectful with others. Disclaimer: all posts are not financial advice, degen trading is risky, always do your own research before investing.
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r/CryptoCurrencyClassic
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The unofficial Wild Wild West of r/CryptoCurrency. CryptoCurrency Memes, News and Discussions. No limits, meme picture posts are allowed all day. All in one place.
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r/cmnnews
144 members
News channel, OTT shows & digital publication to provide ethical & accurate data/information about crypto market. Offering CMN token to earn passive income. Follow : https://t.me/cmnnewsofficial
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r/CryptoCurrencyMeta
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Discuss r/CryptoCurrency, governance, and all things meta!
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r/CryptocurrencyReviews
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This is a place for cryptocurrency ICO reviews and discussion.
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โ€ขPosted by5 hours ago

All of us who went to school at some point of time have probably seen all those graphs on coordinate grids, where the y variable somehow depends on x. Consider, for example, the trivial case of y = x:


https://i.redd.it/7khb102hq0qb1.png

Easy right?? Now with all the mumbo-jumbo of cryptography, the equation for an elliptic curve is not much different! It has the form of y^2 = x^3 + ax + b. Whatโ€™s a and b? Just some arbitrary (not really...more of that in the end) constants. Letโ€™s see how it looks with a = 0, b = 7, just like in the Bitcoin curve:


https://i.redd.it/1jcm62giq0qb1.png

Now the REAL POWER OF THIS CURVE IS THE ABILITY TO PERFORM 3 IMPORTANT OPERATIONS: ADDITION/SUBTRACTION, DOUBLING AND INVERSING (MULTIPLYING BY -1), WHILE NOT BEING ABLE TO PERFORM DIVISION AND DIRECT MULTIPLICATION OF TWO POINTS ON THE CURVE.

Let me explain with a few examples:

The elliptic curve is symmetric along the X-axis. It means that for any point on the curve A, we can get its mirror point (INVERSING), called -A, by simply mirroring its y coordinate:


https://i.redd.it/w4ta8aujq0qb1.png

If we draw a line through any of two points not lying on a vertical line, it will meet the curve at exactly one more point! Letโ€™s draw a line through the A and B points, and call the third point โ€”C. Then letโ€™s reflect it to get point C and it so happens (if you do the algebra) that this point C = A + B (ADDITION) !!


https://i.redd.it/bxfpgxtkq0qb1.png

Finally, if we draw a line that just touches any point A lying on a curve (tangent line), it will pass through the curve at exactly one other point. And this point happens to be -2A!! We already know how to get 2A by mirroring it and voila! we have just achieved POINT DOUBLING!!


https://i.redd.it/hznng1xlq0qb1.png

And thats it! We have just defined 3 fundamental operations that define elliptical curves. The only drawback, for now, is the need to draw it. But of course, there are mathematical formulas for reflecting, addition, and doubling a point...lets not bother with those boring formulas since the concept is all that matters atm.

Now you will say, okay...and why do we care about this exactly??? Hold on...this is where all the fun starts. By using combinations of these 3 fundamental operations, we can choose an arbitrary number k ( our secret 'key') and a random point on the curve G ( called a 'generator point' by crypto geeks) to compute:

K = k ร— G

Do you see where I am going?? You guessed it right! K is our public key! Now the challenge lies in deciphering k even if you somehow managed to find out what G is. Thats where the magic of elliptical curves manifests...you can add, multiply or reflect points but you cannot divide them by numbers. Now you can brute force it for k = 2/3/4/5... etc. But this approach won't help you for long as my choice of k gets larger and larger. We can multiply a point by any integer, but there is no way to get the integer back! This is the gist of it! And this is what makes the elliptic curves very good for cryptography. This algebra works for infinitely large numbers.

When implementing elliptical curves in practical applications like blockchain security you need to constrain the possible numbers you are allowed to play with. This is necessary to ensure that the integrity and structure of the math is maitained and performance is not compromised. For example, consider a extra-paranoid user who might think of using a private key which has 1000 quadrillion digits. Of course its maximum SAFU but good luck computing the public key. To make things a little more structured, the possible numbers are constrained using a set of allowed numbers. This is known as a finite field. Since cryptographers love prime numbers, these finite fields are usually defined over huge prime numbers. But hey, thats a topic that needs its own post...more of that in the future.

Finally, a parting trivia from a Monero maximalist:

Consider the elliptical curve used by bitcoin which I have discussed above: y^2 = x^3 + 7. Cryptographers call it by the fancy name of Secp256k1. This curve was invented by a company called Certicom (it was acquired by Blackberry in 2009). Now, in terms of security vulnerabilities, experts assign a rigidty to elliptical curves. In their lingo, a fully rigid curve is one where the process of curve generation is completely explained. Take for example the bitcoin elliptical curve above. Why is there a 7? Why not add a - sign before y^2? If the designers of the curve can fully explain why they chose these values, subject to scrutiny by the wider research community then its fully rigid aka safe. Now, the interesting part is, as per this criteria of rigidity assignment, the bitcoin curve is classified as somewhat rigid. Now that translates to 'the curve-generation process is not completely explained, but the unexplained parts do not give the curve generators many bits of control'. In contrast, Monero uses a different elliptical curve called the Twisted Edwards curve (formally known as Curve25519):


https://i.redd.it/g6ihqxv0r0qb1.png

Now the good news is...drumrolls...the Monero curve is fully rigid i.e., the curve generation process is fully open source.

Thats all folks! I'll be back soon with more citizen science of cryptography...

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โ€ขPosted by12 hours ago

Just a friendly post to remind our UK audience about UK Capital Gains tax. I thought I would make this as I see more and more people entering the liquidity pool and thought some may find this useful. Just to be aware I do not have any knowledge on other countries crypto taxes.

Current UK Capital Gains allowance

Prior to April 23 you were able to have a very generous capital gains allowance of ยฃ12,300 unfortunately this has now changed to ยฃ6,000 for the 23/24 tax year. At the moment it is still planned to reduce further to ยฃ3,000 from April 24. The amount of tax you will pay is the same as your income tax (10% / 20% depending on income).

When will I pay Capital gains?

This is ever changing at the moment, but the long story short in the UK you will pay capital gains tax on any profit over ยฃ6,000. You wonโ€™t pay for losses and you can carry over losses to offset you capital gains, itโ€™s always advisable to register these losses each year.

How do they know?

Currently the UK government is using Know Your Customer (KYC) to monitor who needs to pay taxes. Coinbase has been sending emails with those holding, receiving and sending large sums of crypto. If you are in doubt, I strongly suggest you contact HMRC to ensure you are not hunted later.

Itโ€™s the bear market, I donโ€™t make gainsโ€ฆ

So this is where it can become a little more confusing, if you are supplying to a liquidity pool, you are making gains each month on that specific token. Currently HMRC states that it will likely consider this as an income and you will be expected to pay capital gains. This also applies to airdrops.

Remember to always do you own research to protect yourselves and remember you can gift crypto to a spouse tax free. If they have not used their Capital gains allowance I strongly suggest you gift them to use their allowance and maximise the amount of crypto you get.

I am by no means an expert, ensure you check your local laws and regulations before making decisions.

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