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Anything related to bitcoin, crypto, blockchain

MTF

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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

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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.
 

Mainstream7

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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.
 

Kevin88660

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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?
Counter party risk.

Stable coins are like deposit notes. They have values because the creators promise to provide fiat upon request for redemption.
 
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BAUCE

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Metaverse is a fancy word - confusing for many - abused by giga-corps to appease a younger crowd.

Let's try to make it simpler - think of it as a digital realm. Twitter is a digital realm. Facebook, Instagram, Discord, Twitch, are all examples of digital realms.

The hype you hear around the metaverse today is the hype around building interoperable digital realms. Blockchains, thanks to their transparent and permissionless design principles, serve as a great layer on-top of which applications can be built - because this would enable all of these apps to become interoperable with one another. In essence, they would be sharing the same database if you will. This opens up the door to a world of opportunities that was previously locked due to web2 design where each operator on the internet needed to secure their own database.

For example, you couldn't take your Twitter profile, and all of your posts, and say, jump into Instagram and "retweet" one of your twitter posts into Instagram - because the data between them is not shared, but instead siloed in each giga-corps proprietary data servers.

What's exciting about the metaverse is the ability for all participants to move more seamlessly across the web. You could, for example, have a smart-contract account, stored on a blockchain, and applications/games/socialmedia/etc. could simply fetch your smart-contract account from public ledgers, so you could, in practice, with ONE account access every web3 service. Not only is your profile now interoperable with other lego-pieces in the space, but your ASSETS also are interoperable. So let's say you bought a camera filter for your videos/photos, now you could take that same filter with you to different apps. The same is valid with any type of digital asset (photos, videos, programs, games and game assets, text and books, and any other digitized product you can think of).

What "need" does the metaverse fill? Every need you and I have when we access the internet. You currently have dozens if not hundreds of "accounts", with your information, as well as your money, stored on random people's servers. When you buy something, it can't "come" with you anywhere. You could store your PDFs for example on a cloud-based storage solution, but again, you would be storing it on some company's servers and access them with the internet. And this type of storage solution would still need other applications to speak to this server's APIs to request information. But if the base-layer is transparent and permissionless, anybody could fetch, add, and build around this information. Don't worry, you don't have to make your life public, there are cryptographic solutions that can prove the authenticity of your content without revealing it to just anybody if you wish to preserve privacy.

The possibilities are vast - these are simple examples I'm offering just to paint a picture.

Now the 3D/VR part of the Metaverse is a more ambitious effort to transform your experience across these realms into a more immersive one. So instead of looking at a 2D screen to view content on the web, you could be "walking through" this content inside of an immersive VR/AR environment. Instead of browsing IG's page by scrolling through images/texts in 2D, you could for example be sitting with your VR headset rendering a galaxy in space, and you could be viewing IG in 3D for example, whereby you can interact with the same content but in a much more engaging way. Instead of going to a WellsFargo website, again in 2D, to do your banking, you could be walking inside of a 3D world, say a Minecraft or a Fortnight type of world, and find an "ATM" inside the game, which connects your smart-contract based profile/assets to DeFi protocols: from inside the game, you could do your banking, or walk up to another player in the game and "trade" with them, exchanging valuable assets/tokens with each other.

However, this VR immersive experience is still a number of years out, primarily because of hardware constraints (headsets are still bulky, heavy, and not pleasant for extended use). The first iterations of the metaverse are web-based experiences still rendered on 2D screens - but the underlying data-access-points are interoperable. Take for instance something like SandBox, or CryptoVoxels, or Decentraland - they are 3D multiplayer environments that interface with blockchains on the backend.

I hope you can begin to understand the value proposition of this interoperable world of digital realms.

You can also reference this post I made in February on the topic of the Metaverse, the article linked is very detailed and is a great starting point to help you better understand the thesis.
I've learned more from you than anyone else on this forum and also got in to Lukso at $6 because of you. Thanks for sharing your knowledge!
 

BAUCE

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Love to hear it bro - glad you've found value in what's been shared.

Now your turn - take this good fortune you've received and pass it on to the next person, so that there can be more of us sharing this fire.
Will do man. I don't have a lot of crypto knowledge but I plan on sharing what I know about Shopify and digital marketing so far.
 
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MoneyDoc

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Not to shill or anything, but I came across a seemingly promising project today. It's called "Numbers Protocol" (Home | Numbers) - a digital media blockchain. I guess Web 3.0 for images (Instagram/Facebook) with more control and less copyright challenges over creator images. They have a stacked investor + advisors list including Binance, formed co-founder/CTO of Youtube and the former COO of Twitch.

Haven't read the white paper in full yet, but just thought I'd share it on here if someone wants to dive deep into the chain.
 
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EVMaso

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If anyone wants to earn 608 Decillion% APY through staking, here's your chance.
It's called "Snowdogdao"





don't do it btw.
 

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nitrousflame

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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.

It's actually quite difficult to write a short snippet on OHM and still do it any justice. OHM is unique compared to the rest of those mentioned in that OHM is "backed" by, but not "pegged" to $1. The price can fluctuate, but will always have real value backing it. "It floats, but doesn't sink."

Additionally, OHM holders can stake their coins to receive interest, currently in the range of ~7-8k% APY. It sounds crazy, but the protocol is able to sustain these payouts through several income streams, the biggest being bond sales. Through bonding, users can buy OHM at a discount to market, and when OHM trades over $1, the bulk of the difference is dispersed to stakers. If you're staked, your share of the OHM supply will roughly keep pace with the circulating supply.
 
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Kevin88660

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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.
When I was in Brisbane with my friend I was surprise to know that the bank does not 2FA authentication security service for their bank account.

So how do you have online transaction safely without 2FA authentication? The common advised way there is to have your big balance account not tied to internet banking and do those large transactions physically at bank with the help of the banker, so that only your the other account with smaller balance is exposed.

Of course I understand Brisbane isn’t Sydney. But if Australia is better than U.S. I can only imagine about the quality of banking service in U.S.
 

MitchC

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When I was in Brisbane with my friend I was surprise to know that the bank does not 2FA authentication security service for their bank account.

So how do you have online transaction safely without 2FA authentication? The common advised way there is to have your big balance account not tied to internet banking and do those large transactions physically at bank with the help of the banker, so that only your the other account with smaller balance is exposed.

Of course I understand Brisbane isn’t Sydney. But if Australia is better than U.S. I can only imagine about the quality of banking service in U.S.
One bank I use has voice verification for transfers over $1000, one has a pin, another sends an email every time a transfer is made to a new account, some will delay them 24 hours as well if it’s a big transfer to a new account, it may not be 2FA but they have security lol

As far as Brisbane not being Sydney, it’s the same country with the same banks and apps
 

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When LUKSO Mainnet?

Posted today by Fabian, himself: An Update on the Road to Mainnet

TLDR: “Looking at the current development, it looks like that the mainnet could be launching sometime in the first half of next year, but this will depend on the stability of the current implementations and the results of the audits, as well as other unknown factors that might come during development.”
 
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YanC

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Mainstream7

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...does that mean, best staying away from LIDO?

I'm still bullish on LIDO. The emission rate is not that big. Not financial advice.
 

Axhann

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You can already see a bunch of the money leaving BTC and heading towards ETH and Altcoins. No more free coins for new investors.

I transfered my BTC over to ETH and will sell the ETH peak/BTC dip after the next few days
hy can you tell me a good crypto platform or app to trade, i'm from Maldives and am having trouble finding a platform that allows me to trade. CoinBase verified my identity but it's restricting me from adding a payment method. Therefor I'm unable to trade.
 

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Might be a good entry point as I haven't jumped into Lukso yet.

Can someone explain it like to a 4 year old how to do this? I heard I need meta mask.
I want to do a swap with either my BTC or ETH. I tried directly from my Ledger Live but it won’t go through even on a swap.
@MoneyDoc @AceVentures

Thanks for your time and help on this.
 
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Matt Sun

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Can someone explain it like to a 4 year old how to do this? I heard I need meta mask.
I want to do a swap with either my BTC or ETH. I tried directly from my Ledger Live but it won’t go through even on a swap.
@MoneyDoc @AceVentures

Thanks for your time and help on this.


You can buy it in an exchange called kucoin.com , great entry point today
 

JamesQB8

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Can someone explain it like to a 4 year old how to do this? I heard I need meta mask.
I want to do a swap with either my BTC or ETH. I tried directly from my Ledger Live but it won’t go through even on a swap.
@MoneyDoc @AceVentures

Thanks for your time and help on this.

Make an account with Kucoin. You can either directly deposit fiat or send a crypto stablecoin like USDT.

You would have to trade your fiat to USDT or use USDT directly to trade with the below pair.

Then go to the Lyxe/usdt trading pair here: https://trade.kucoin.com/trade/LYXE-USDT?type=TRADE

See in the bottom right hand corner I'm making a buy order for 1000 Lyxe at 20.2 USDT per coin for a total of 20,200 USDT
Screen Shot 2021-11-22 at 22.02.31.png


Here is my refferal link so I would get a small kickback on your fees paid: KuCoin | Cryptocurrency Exchange | Buy & Sell Bitcoin, Ethereum, and More
 

Antifragile

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@JamesQB8 and @Matt Sun

thank you both. I use Kraken at the moment and my figures are a bit larger, so I have to wire fiat.

I’m looking to do a swap, while I wait for fiat. I’ll just trade ETH or BTC for Lukso. Then top up later on ETH.
 
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MoneyDoc

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Can someone explain it like to a 4 year old how to do this? I heard I need meta mask.
I want to do a swap with either my BTC or ETH. I tried directly from my Ledger Live but it won’t go through even on a swap.
@MoneyDoc @AceVentures

Thanks for your time and help on this.
Hey bro, I honestly have never done a swap.

I use KuCoin. I wire to Kraken/Gemini, exchange for a stable coin, and just send it over to KuCoin.

Perfect entry today! Market is overreacting to the EXPECTED mainnet delay.
 

Antifragile

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Hey bro, I honestly have never done a swap.

I use KuCoin. I wire to Kraken/Gemini, exchange for a stable coin, and just send it over to KuCoin.

Perfect entry today! Market is overreacting to the EXPECTED mainnet delay.

Thanks!

I am going to figure this out today, definitely an opportunity I am not missing :).
 

Kevin88660

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One bank I use has voice verification for transfers over $1000, one has a pin, another sends an email every time a transfer is made to a new account, some will delay them 24 hours as well if it’s a big transfer to a new account, it may not be 2FA but they have security lol

As far as Brisbane not being Sydney, it’s the same country with the same banks and apps
2FA to me always mean immediate verification through phone messages.
 
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BAUCE

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Hey bro, I honestly have never done a swap.

I use KuCoin. I wire to Kraken/Gemini, exchange for a stable coin, and just send it over to KuCoin.

Perfect entry today! Market is overreacting to the EXPECTED mainnet delay.
I forgot I had a Gemini account and just logged in. I usually use tether to transfer over to Kucoin but I see its not an option there. What's a good one with minimal fees?
 

MoneyDoc

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I forgot I had a Gemini account and just logged in. I usually use tether to transfer over to Kucoin but I see its not an option there. What's a good one with minimal fees?
This is one of the pitfalls with Gemini... not enough stable coins. So I would usually just buy a strong project that is less likely to crash within 5 minutes, lol. Transfer that to KuCoin, sell it there and get USDT.

But I just realized they have USDC on gemini. Buy that, and swap to USDT on KuCoin. You will take a slight hit I believe on the exchange (probably $20-$50) depending on the amount.
 

BAUCE

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This is one of the pitfalls with Gemini... not enough stable coins. So I would usually just buy a strong project that is less likely to crash within 5 minutes, lol. Transfer that to KuCoin, sell it there and get USDT.

But I just realized they have USDC on gemini. Buy that, and swap to USDT on KuCoin. You will take a slight hit I believe on the exchange (probably $20-$50) depending on the amount.
Sweet, thanks. Looks like there is a 4-5 day hold on bank deposits there which is pretty standard.

Coinbase lets me send $1,000 right away but was hoping to throw more at Lukso today. Anyone know of another way to get immediate funds? I have Coinbase/coinbase pro, kucoin, gemini, crypto.com
 
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Antifragile

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Make an account with Kucoin. You can either directly deposit fiat or send a crypto stablecoin like USDT.

You would have to trade your fiat to USDT or use USDT directly to trade with the below pair.

Then go to the Lyxe/usdt trading pair here: https://trade.kucoin.com/trade/LYXE-USDT?type=TRADE

See in the bottom right hand corner I'm making a buy order for 1000 Lyxe at 20.2 USDT per coin for a total of 20,200 USDT
View attachment 40866


Here is my refferal link so I would get a small kickback on your fees paid: KuCoin | Cryptocurrency Exchange | Buy & Sell Bitcoin, Ethereum, and More

Used your link for referral :). And now signed up on KuCoin.

It looks like I can trade ETH directly to LYXe.

So I plan to move ETH from my own wallet to the KuCoin wallet. Then trade for LYXe.

Another dumb question to the group - then what? After I buy LYXe with ETH - how do I store it on my hardware wallet?

I feel like I am figuring out rocket science here, but it's a lot of fun :).
 

STEFANTP

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Used your link for referral :). And now signed up on KuCoin.

It looks like I can trade ETH directly to LYXe.

So I plan to move ETH from my own wallet to the KuCoin wallet. Then trade for LYXe.

Another dumb question to the group - then what? After I buy LYXe with ETH - how do I store it on my hardware wallet?

I feel like I am figuring out rocket science here, but it's a lot of fun :).
Hi. To transfer your lyxe to your hardware wallet, just send them to the ETH address. Last time when I did this from kucoin, the fees were 1.5 lyxe. To be sure, I have sent first a small amount and after I saw that it works I sent the rest.
 

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