Bitcoin / Cryptocurrency Discussion (And Predictions)

[MitchC]

Thanks guys. I love my ETH... so I'll top up there.

I tried to do a swap a while back for Lukso when Ace first mentioned it but my technical abilities failed me. Apparently I needed a MetaMask to do this? My numbers are a little on the larger side, so when things aren't as easy as what I've done on Kraken exchange before moving it to my hardware wallet (I don't trade), then I am struggling with the mechanics of it all. FML. It's like a Russian sailor not drinking vodka because he couldn't open a bottle. Embarrassing.

I was the same with lkso, I put it off because it’s something new and sounds hard, it’s actually really easy though. You just download the Metamask iPhone app, send your eth to the metamask wallet and swap it in the app with about 2 button pushes.

Also I appreciate the tag however I have no idea about any of this, I am the person on the left in the picture Ace made For EVmaso, so do not follow my advice but since you asked, I bought all eth in this dip, although with these other comments I think I may buy some more lsko as well.

 

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[OleksiyRybakov]

Thanks guys. I love my ETH... so I'll top up there.

I tried to do a swap a while back for Lukso when Ace first mentioned it but my technical abilities failed me. Apparently I needed a MetaMask to do this? My numbers are a little on the larger side, so when things aren't as easy as what I've done on Kraken exchange before moving it to my hardware wallet (I don't trade), then I am struggling with the mechanics of it all. FML. It's like a Russian sailor not drinking vodka because he couldn't open a bottle. Embarrassing.

Lukso is listed on KuCoin.

 

[JamesQB8]

 

[ElleMg]

At $40 I had the urge to sell Lukso (and buy back at a lower price) and ignored it, fml

 

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[zhangmin_007]

Still haven't found something I prefer to it.

How about AVAX?

 

[OleksiyRybakov]

The infrastructure bill was signed and the crypto market seems to drop at the moment. What do you think about it? Are there any changes in taxation of cryptocurrency for people not residing in the USA? I heard that every transaction over 10k$ should now include a social insurance number but I don't know how this should be implemented, especially for the NFTs.

 

[GPM]

Lol, once again USA thinks they are the planet earth.

If it was the infrastructure bill I'm guessing it all goes back up shortly after when the world remembers there are like 6.5 billion members outside of that clown shoe county.

On a sad note I was going to sell a couple eth to cover some stuff, and the night I was going to my house blew the breaker and I spent a day and a half dealing with that and figuring stuff out. The day after the breaker went down and I had no power the cell towers also went down and I was not able to make calls or access the internet. All while trying to arrange emergency services to cut my house power so the breaker could be replaced.

On top of that the city utility also had an issue with their emergency line and I couldn't get through to them on my parents landline. And my wife had to work soon and I had to watch the kids. And the utility offices were closed due to "corona" and physically going there had me only talking to a security guard who gave me the number to an emergency line that did not work.... FML. And through all this eth drops $1000 Canadian. Ugh.

 

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[AceVentures]

How about AVAX?

Got into that thing at $15 earlier in the year and made some nice profits, but at it's current ~70B valuation I'm not interested in topping up. If you see a path towards exponential growth I'd be glad to hear it.

 

[AceVentures]

I keep talking about volatility being part of the game.

Never abandon ship, but do make sure your ships are ready for volatile seas.

Stay in spot and you don't have to change your diapers after every red candle. Look in the mirror and make sure you don't look like this fella rn.

 

[MoneyDoc]

I keep talking about volatility being part of the game.

Never abandon ship, but do make sure your ships are ready for volatile seas.

Stay in spot and you don't have to change your diapers after every red candle. Look in the mirror and make sure you don't look like this fella rn.

View attachment 40811

Kinda hard not to be like that guy when you’re doing this full time

 

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[AceVentures]

Kinda hard not to be like that guy when you’re doing this full time

Give it some time, you'll get numb soon enough

 

[Matt Sun]

I think buying today will make you quite happy by Christmas, the mega-spending infrasctructure bill, if anything, will keep pumping bitcoin/cryptos and bring more inflation to the US.

No need to sell in these red days.

I even made a trade and earn in a day what here is a month worth of salary.


I remember somebody on this thread buying eth at 2400 months ago. I bet he is not too sad about this drop to 4K.

 

[Hai]

Those who spent copious amount of time in online games will understand the value of the metaverse.
Even back then, when your characters where owned by a third-party company,
you still felt really good about leveling them up and owning a powerful character.
People created their own in-game economy and culture.
As ownership is getting decentralized and NFTs basically allow you to own your powerful character forever, imagine how metaverses will expand and thrive.
Like an online game without real limits.
Metaverses are able to become a second kind of real-world society.

My view on it is probably pretty simple as opposed to the 150 IQ Zhu Su's out there.

Having said that, I don't really like the idea of spending time online,
so I'll work on something that supports LIFE as opposed to DISCONNECT.

 

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[Ocean Man]

 

[Morokita]

View attachment 40821

Just seeing everyone talking about how they invested 5-6 figures, I’m sitting here wondering well damn I’m only able to invest a couple hundred dollars a month lol I feel like my view on these couple hundred dollars is a little tainted and it discourages me a bit

 

[Antifragile]

Dumb question guys...


Stable coins - tied to USD. Like USDC - are they 100% risk free? Meaning they are really tied dollar for coin? Or are they leveraged somewhere behind the scenes? And there is unknown danger of those blowing up in smoke?

 

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[AceVentures]

Dumb question guys...


Stable coins - tied to USD. Like USDC - are they 100% risk free? Meaning they are really tied dollar for coin? Or are they leveraged somewhere behind the scenes? And there is unknown danger of those blowing up in smoke?

Different stablecoins are collateralized in different ways.

USDC is pegged to $1 USD with cash reserves and I think other bonds/low-risk assets. This is also how Tether and co peg it. Other stablecoins can get more creative.

DAI for example used to be fully collateralized by ETH, until they mixed USDC into the reserves pool.

UST is a killer one imo - it is backed by the Luna economy. Each UST is redeemable for Luna coin equivalent. That's how the UST is minted. The entire reserves and value rests on economic activity on Luna.

OHM is another genius design - but I think @nitrousflame can speak about that one better.

 

[Morokita]

Different stablecoins are collateralized in different ways.

USDC is pegged to $1 USD with cash reserves and I think other bonds/low-risk assets. This is also how Tether and co peg it. Other stablecoins can get more creative.

DAI for example used to be fully collateralized by ETH, until they mixed USDC into the reserves pool.

UST is a killer one imo - it is backed by the Luna economy. Each UST is redeemable for Luna coin equivalent. That's how the UST is minted. The entire reserves and value rests on economic activity on Luna.

OHM is another genius design - but I think @nitrousflame can speak about that one better.

is the use of stable coins the same as using etf reserves? I’m not sure if I’m calling it correctly

 

[AceVentures]

is the use of stable coins the same as using etf reserves? I’m not sure if I’m calling it correctly

Use of stablecoins to dampen volatility and allow for market pricing of products/services across web3. Everything is collateralized in one way or another - so there's always the risk of the underlying to account for. At surface level you eat up time-value of the dollar at the expense of the volatility, up or down, of the underlying assets.

 

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[EVMaso]

Dumb question guys...


Stable coins - tied to USD. Like USDC - are they 100% risk free? Meaning they are really tied dollar for coin? Or are they leveraged somewhere behind the scenes? And there is unknown danger of those blowing up in smoke?

The only stablecoin I won't touch is USDT (Tether).

 

[Ocean Man]

Just seeing everyone talking about how they invested 5-6 figures, I’m sitting here wondering well damn I’m only able to invest a couple hundred dollars a month lol I feel like my view on these couple hundred dollars is a little tainted and it discourages me a bit

Hey, don't feel bad. You're investing what you can, there are many people who still haven't even interacted with this space. Don't chase FOMO (fear of missing out), just continue to play in this space and learn. In my books, you're still ahead of the game by just interacting and learning in this space.

 

[Hai]

I usually don't post public much, let's see how it goes

Here is why I'm positive on LIDO technically in the video. When it comes to fundamentals, I also think it's massively undervalued. During accumulation, price usually is surpressed to allow cheap buying.

Video is only for education, not financial advice.

View: https://www.youtube.com/watch?v=6AW4knS6jew

 

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[Ocean Man]

I usually don't post public much, let's see how it goes

Here is why I'm positive on LIDO technically in the video. When it comes to fundamentals, I also think it's massively undervalued. During accumulation, price usually is surpressed to allow cheap buying.

Video is only for education, not financial advice.

View: https://www.youtube.com/watch?v=6AW4knS6jew

Thank you for sharing your analysis!

 

[Hai]

Government will keep trying to exert control, and people leave their countries, which makes property investments more risky.
People will all flock to digital property as it can’t be controlled by government and is borderless.

 

[Antifragile]

Hard to be not bullish on crypto after trying to wire my $$ to an exchange and the bank telling me - wait 5 business days. I pay for the service when the service sucks.

BtW @MoneyDoc which exchange do you use in Canada? I’m with Kraken.

 

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[MoneyDoc]

Hard to be not bullish on crypto after trying to wire my $$ to an exchange and the bank telling me - wait 5 business days. I pay for the service when the service sucks.

BtW @MoneyDoc which exchange do you use in Canada? I’m with Kraken.

These banks are really getting annoying to work with man. Every time I wired money to an exchange it would get placed on hold for a week or two. Let alone you can't even wire more than $10k online with RBC from a business account and I'm sure it's the same for the other Canadian banks. So I have to visit my branch every single time.

I use Gemini and Kraken. Both are really good!

 

[msufan]

I usually don't post public much, let's see how it goes

Here is why I'm positive on LIDO technically in the video. When it comes to fundamentals, I also think it's massively undervalued. During accumulation, price usually is surpressed to allow cheap buying.

Video is only for education, not financial advice.

View: https://www.youtube.com/watch?v=6AW4knS6jew

For anyone considering buying LIDO, it looks like the original creators have 64% of the tokens, and they are free to sell them beginning December 17th. Buyer beware.

 

[MTF]

Hard to be not bullish on crypto after trying to wire my $$ to an exchange and the bank telling me - wait 5 business days. I pay for the service when the service sucks.

I think it's just that banks in certain countries suck.

In Poland if I send a wire before like 2 pm or so it'll get delivered for free to another bank account in Poland or anywhere in the European Union the same day (assuming it's not Saturday or Sunday but even then you can pay a super low fee to have it delivered immediately).

I don't send international wires through a Polish bank but I do it through Wise or Revolut and it usually doesn't take more than 2-3 days or so (and costs almost nothing).

So yeah, it's not the banking system in general that's broken but bank systems or banks in specific countries. That's why I don't really get that argument that banks suck because they most certainly don't suck everywhere.

 

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[MitchC]

I think it's just that banks in certain countries suck.

In Poland if I send a wire before like 2 pm or so it'll get delivered for free to another bank account in Poland or anywhere in the European Union the same day (assuming it's not Saturday or Sunday but even then you can pay a super low fee to have it delivered immediately).

I don't send international wires through a Polish bank but I do it through Wise or Revolut and it usually doesn't take more than 2-3 days or so (and costs almost nothing).

So yeah, it's not the banking system in general that's broken but bank systems or banks in specific countries. That's why I don't really get that argument that banks suck because they most certainly don't suck everywhere.

I agree, banks in New Zealand and Australia just seem so much better than USA.

There are a number of well funded start ups in USA where their entire point of difference is something that every bank in Australia offers.

 

[Hai]

For anyone considering buying LIDO, it looks like the original creators have 64% of the tokens, and they are free to sell them beginning December 17th. Buyer beware.

Thanks for the headsup. Didn't know this. With the vesting period that's 0,3% daily of those tokens. This gives us still time to markup before it goes into distribution.