Author Topic: Cryptocurrency Master Thread  (Read 216334 times)

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Offline Spracne

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Re: Cryptocurrency Master Thread
« Reply #3450 on: October 25, 2021, 04:28:44 PM »
The worst thing about crypto is buying a crap ton of a shitcoin like SOL and then (mostly) bailing after making a modest profit only for it to increase by 25% in value over the next few days. Not too bad of a life. Happy about my gambling endeavors.



P.s. I'm now in the SHIB shitcoin empire, as well.

Offline catastrophe

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Re: Cryptocurrency Master Thread
« Reply #3451 on: October 25, 2021, 10:34:05 PM »
In a true life success story, I just wanted to share that the $10 in free COMP that I got for watching a video on Coinbase a few months ago is now worth $342. I will never slack on those again.

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #3452 on: October 25, 2021, 10:44:32 PM »
In a true life success story, I just wanted to share that the $10 in free COMP that I got for watching a video on Coinbase a few months ago is now worth $342. I will never slack on those again.
Excuse me but, that is not possible.
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Offline catastrophe

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Re: Cryptocurrency Master Thread
« Reply #3453 on: October 25, 2021, 10:49:05 PM »
Well if the truth police are going to come in here and make a fuss then fine. It turns out I completely misread my ROI on that garbage crypto.

Offline DQ12

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Re: Cryptocurrency Master Thread
« Reply #3454 on: October 26, 2021, 07:00:16 AM »
SHIBA :Woot:


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Offline yoga-like_abana

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Re: Cryptocurrency Master Thread
« Reply #3455 on: October 26, 2021, 07:41:39 AM »
My goodness. When’s it time to sell that sucker and do it again?


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Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #3456 on: October 26, 2021, 07:44:09 AM »
Imagine owning SOL right now and posting some tiny little baby 14% gain or whatever when SHIB is up > 70% in a week. lmfao
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Offline turnbull

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Re: Cryptocurrency Master Thread
« Reply #3457 on: October 26, 2021, 08:14:48 AM »
2 cents that is my Shiba Inu Goal.....i'd love it to get to 8-10 cents....but I'm thinking it wont. It is moving faster than the DogeCoin did on it's upward curve so there is that. However, it did take Dogecoin years to get to 1 cent and once Elon Musk got involved it went crazy. Still need a massive burn though and they have made an entire ecosystem out of it so it's worth holding.

Offline yoga-like_abana

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Re: Cryptocurrency Master Thread
« Reply #3458 on: October 26, 2021, 08:37:00 AM »
Throw more change at it is what you’re saying


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Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #3459 on: October 26, 2021, 08:39:15 AM »
Throw more change at it is what you’re saying


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turnbull has been posting a lot recently and from what I gather he is one of those people that has been a bitcoin is going to zero people and it just keeps going up and up and up and he keeps moving the goalposts.  now he has moved on to being an apparent shiba expert and is just repeating that same process.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Offline turnbull

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Re: Cryptocurrency Master Thread
« Reply #3460 on: October 26, 2021, 09:04:14 AM »
No I just read the supply in circulation. Bitcoin I have some, but  I make no predictions on Bitcoin. Thanks for the shut out though lol!

Offline Pete

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Re: Cryptocurrency Master Thread
« Reply #3461 on: October 26, 2021, 09:39:57 AM »
No I just read the supply in circulation. Bitcoin I have some, but  I make no predictions on Bitcoin. Thanks for the shut out though lol!

Keep posting this stuff....helps educate me when I have to go google to learn what you are talking about!   :lol: I love it!  :thumbs:

Offline Pete

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Re: Cryptocurrency Master Thread
« Reply #3462 on: October 26, 2021, 09:41:59 AM »
Also, correct me if I am wrong, but aren't they all going to zero of bitcoin goes to zero?  I suppose ETH has an ecosystem of related products that might anchor it in a unique way, but I see BTC as the "Dow" or "SP 500" of the crypto world. 

Offline steve dave

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Re: Cryptocurrency Master Thread
« Reply #3463 on: October 26, 2021, 09:55:31 AM »
Also, correct me if I am wrong, but aren't they all going to zero of bitcoin goes to zero?  I suppose ETH has an ecosystem of related products that might anchor it in a unique way, but I see BTC as the "Dow" or "SP 500" of the crypto world.

there are different use cases.

BTC - digital gold. if ww3 happens and all currency around the world is upended this is probably your best store of wealth. scarcity is the value. The "goes to 0" is off the table now imo. There can/will still be 50%+ corrections for sure though.

ETH and other alts like SOL, ALGO, ADA, etc. as well as the lvl 2 and 3 coins like MATIC, DOT, etc. that sit over lvl 1 coins (mostly ETH) - Web 3.0 and defi. This is the real world "use" case for crypto right now. people talk about "owning" the internet in its first years and what that would be like which is web 3.0. defi is sending, loaning, exchanging free of banks and regulators. A lot of experimentation and a long way to go obviously.

shib, doge, and other shitcoins - run up the price real big and hope you get in and out at the right time. the real lottery ticket. there's no long term use case for these other than that. but it's fun.

Like I've posted before many times I don't know WTF I'm doing and don't understand this stuff at all for the most part but I own some from each bucket above and will continue to.

Offline wetwillie

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Re: Cryptocurrency Master Thread
« Reply #3464 on: October 26, 2021, 10:57:11 AM »
SD being a full on crypto nerd is a beautiful turn of events
When the bullets are flying, that's when I'm at my best

Offline steve dave

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Re: Cryptocurrency Master Thread
« Reply #3465 on: October 26, 2021, 12:04:04 PM »
I'm almost certainly going to butcher the hell out of this but here goes my retelling of a recent odd lots episode where it was covered:

another great use for crypto is avoiding paying your taxes. but legal, like a rich guy. really wealthy people will have vast amounts of equity or other capital. but they can't sell it to get american dollars because then they'd have to pay taxes on the cap gains which rich people HATE. so, instead, they just take out a loan on backed by that asset and use that money. zero to you tax man and I'm only out a small interest rate on that loan. well, defi and crypto make it pretty easy for the everyman to do that. you own like an entire btc but you bought at $100 so you know for damn sure you aren't selling that thing and paying taxes on it. you could sell it to some sleazy back alley deal maker like kat kid off the books OR you could just use your neighborhood crypto exchange to give you a loan in united states dollars backed by that asset. now you've got your cash and no money to mr. tax bad person USA. this is probably a big piece of why the gov. can't decide if it hates crypto's guts yet or not. people "stake" crypto on some exchanges and get massive interest rates paid on it and don't know how that works. this is a lot of what's going on behind the scenes. it could for sure blow up in your face but probably not. FTX does a lot of this stuff I think.

Offline Pete

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Re: Cryptocurrency Master Thread
« Reply #3466 on: October 26, 2021, 12:37:26 PM »
I like it!

Question about this "staking" thing....does your asset continue to appreciate (the coin keep going up in value) when you stake it to earn interest on the stake?  Or are you "trading" capital gains on the asset for interest earned while staking or something? 

Offline wetwillie

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Re: Cryptocurrency Master Thread
« Reply #3467 on: October 26, 2021, 12:40:33 PM »
I like it!

Question about this "staking" thing....does your asset continue to appreciate (the coin keep going up in value) when you stake it to earn interest on the stake?  Or are you "trading" capital gains on the asset for interest earned while staking or something? 

Value of current coin appreciates in value and you collect the rewards.
When the bullets are flying, that's when I'm at my best

Offline steve dave

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Re: Cryptocurrency Master Thread
« Reply #3468 on: October 26, 2021, 12:45:53 PM »
I like it!

Question about this "staking" thing....does your asset continue to appreciate (the coin keep going up in value) when you stake it to earn interest on the stake?  Or are you "trading" capital gains on the asset for interest earned while staking or something?

hell yeah it does

Offline wetwillie

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Re: Cryptocurrency Master Thread
« Reply #3469 on: October 26, 2021, 12:46:17 PM »
I'm almost certainly going to butcher the hell out of this but here goes my retelling of a recent odd lots episode where it was covered:

another great use for crypto is avoiding paying your taxes. but legal, like a rich guy. really wealthy people will have vast amounts of equity or other capital. but they can't sell it to get american dollars because then they'd have to pay taxes on the cap gains which rich people HATE. so, instead, they just take out a loan on backed by that asset and use that money. zero to you tax man and I'm only out a small interest rate on that loan. well, defi and crypto make it pretty easy for the everyman to do that. you own like an entire btc but you bought at $100 so you know for damn sure you aren't selling that thing and paying taxes on it. you could sell it to some sleazy back alley deal maker like kat kid off the books OR you could just use your neighborhood crypto exchange to give you a loan in united states dollars backed by that asset. now you've got your cash and no money to mr. tax bad person USA. this is probably a big piece of why the gov. can't decide if it hates crypto's guts yet or not. people "stake" crypto on some exchanges and get massive interest rates paid on it and don't know how that works. this is a lot of what's going on behind the scenes. it could for sure blow up in your face but probably not. FTX does a lot of this stuff I think.

Defi is an absolute monster and is really just in its infancy.  Liquidity Pools on certain assets are currently paying out 2-300 % APY.
When the bullets are flying, that's when I'm at my best

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Re: Cryptocurrency Master Thread
« Reply #3470 on: October 26, 2021, 12:49:44 PM »
I like it!

Question about this "staking" thing....does your asset continue to appreciate (the coin keep going up in value) when you stake it to earn interest on the stake?  Or are you "trading" capital gains on the asset for interest earned while staking or something?

hell yeah it does

The only "downside" is that you can't sell those coins while they are staked, I guess.

Offline steve dave

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Re: Cryptocurrency Master Thread
« Reply #3471 on: October 26, 2021, 12:58:44 PM »
I like it!

Question about this "staking" thing....does your asset continue to appreciate (the coin keep going up in value) when you stake it to earn interest on the stake?  Or are you "trading" capital gains on the asset for interest earned while staking or something?

hell yeah it does

The only "downside" is that you can't sell those coins while they are staked, I guess.

there is certainly risk out there. chase and citi aren't paying this. it isn't FDIC insured, you know? they ask crazy hair sam bankman-fried what would happen if their borrowers collateral coins go down 70%, 80%, etc. and if they stress test their models and he talks about how they'd liquidate the leverage out quickly and he is always confident about it but, like, can they do it that quickly? there is 100x leverage out there that can for sure blow up stuff pretty damn quick if crap hits the fan.

Offline steve dave

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Cryptocurrency Master Thread
« Reply #3472 on: October 26, 2021, 01:05:40 PM »
Also I should confirm that “staking” is just locking up your coins to confirm transactions on the network. The “real” interest paid and bigger risk is in the defi stuff I was describing.

Offline yoga-like_abana

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Re: Cryptocurrency Master Thread
« Reply #3473 on: October 26, 2021, 01:12:36 PM »
confirmed sd is a bigger crypto nerd than dbt

Offline DaBigTrain

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Re: Cryptocurrency Master Thread
« Reply #3474 on: October 26, 2021, 01:18:43 PM »
confirmed sd is a bigger crypto nerd than dbt

 :nono:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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