(Topic ID: 287467)

Cryptocurrency, Bitcoin, and Decentralized Finance (DeFi)

By Isochronic_Frost

1 year ago


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  • Latest reply 1 hour ago by Astropin
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There are 7,065 posts in this topic. You are on page 140 of 142.
#6951 38 days ago

Anyone following along with NFTs the new meta is free degen mints. Been nice rewards for ppl who can navigate the space and it’s shifting how these projects are making money. I think it’s really fascinating.

#6952 38 days ago
Quoted from Pdxmonkey:

Zoom out
The code is programmed to do this every 4 years. It’s called halving. We’ve brought it up 100 times in this this thread.

This is the first time in 40 years that inflation has been an issue, so it’s the only relevant timeframe. So regardless of halving, it has not done well compared to other assets in the same timeframe. 5 year timeframe it has performed outstanding, but if interest rates stay high and inflation persists will bitcoin perform? Hard to say currently.

#6953 38 days ago
Quoted from Pdxmonkey:

Anyone following along with NFTs the new meta is free degen mints. Been nice rewards for ppl who can navigate the space and it’s shifting how these projects are making money. I think it’s really fascinating.

Yes - a few i know have minted free mints then sold a week later for 1.5-2 ETH. Crazy! Feel free to share any potentials!

#6954 38 days ago
Quoted from robm:

Yes - a few i know have minted free mints then sold a week later for 1.5-2 ETH. Crazy! Feel free to share any potentials!

https://www.premint.xyz/potatoz/

#6955 37 days ago
Quoted from robm:

A few I know have minted free mints then sold a week later.

The only free mints I ever got were the ones left on my pillow when I stayed at a nice hotel that one time.

#6956 35 days ago

What are the prediction for Luna? I got some two years ago and have minus 4k from the original investment.
As more as i read about crypto trading licenses, the more interesting it sounds for me. Curious how many people actually have done it? Are you happy with the profit it gives you? What else do you need except the license itself and a good webpage?

#6957 35 days ago

Luna is dead (or should be). No input regarding crypto trading licenses.

#6958 35 days ago

Good take on trends and NFTs from Gary Vee

#6959 34 days ago
Quoted from littlecammi:

The only free mints I ever got were the ones left on my pillow when I stayed at a nice hotel that one time.

Knock yourself out... and don't get scammed
https://degenmint.xyz/

#6960 34 days ago

Sharing a little Swan Private Client Newsletter info:

Two of the most common misconceptions surrounding Bitcoin,
blockchain, and cryptocurrencies are the ideas that 1) Bitcoin can be used
synonymously with “Crypto” and 2) A blockchain on its own represents a
new technological innovation.

John Haar
Managing Director, Private Client Services

From the Concierge Desk

When someone implies that Bitcoin is just like any other cryptocurrency out
there, or that blockchain is a new innovation with far-reaching use-cases, I
consider it an indication that the person has not spent significant time
researching and understanding Bitcoin as a protocol, network, and asset. It is
correct to say that Bitcoin is a cryptocurrency. However, this often traps
people into thinking that other cryptocurrencies are similar to Bitcoin.
A blockchain on its own is not a new technological innovation. A blockchain
can be thought of as a type of record or ledger which contains information. A
database is very similar to a blockchain. Databases and ledgers are
incredibly useful in society, but they do not represent a recent technological
breakthrough. Individuals, companies, and governments have been using
databases for a long time.
Historically, a key feature of databases is that they are centrally controlled.
Someone or some group has access to write/edit/audit the content of the
database. All users of the database stakeholders must trust the central party
to follow the rules and behave honestly. Bitcoin is a breakthrough
innovation because it is a system designed such that there is no trusted
party on which we depend to write/edit/audit the record of transactions.
Therefore, a blockchain-based cryptocurrency represents a new and useful
innovation only if it is sufficiently decentralized and distributed. Bitcoin’s
proof-of-work consensus model is the only cryptocurrency which checks
this box. Other cryptocurrencies make claims of “decentralization” but they
use a proof-of-stake consensus model which is prone to centralize over
time, or in other cases we find out that a small group of people have the
ability to make major changes to a cryptocurrency’s history or protocol,
which clearly means they are not decentralized.
As Gigi has said, “Satoshi's breakthrough was to build a system that allows
all participants to zero in on the same truth independently. Proof-of-work is
what allows this to happen.”

#6961 34 days ago
Quoted from Pdxmonkey:

Good take on trends and NFTs from Gary Vee

I like his takes on NFT's. What I'm not entirely sold on is whether someone will be able to make their living as an artist at $80k a year solely on NFT's. And the reason I say that is because if artists struggle now paying bills and selling stuff, it's hard for me to believe that NFT's are going to make their work worth more, it just doesn't work like that normally.

The influencer stuff he talks about I can totally see and think he's right about them making a living on that. NFT's and artists, not so much because it's a crowded market. Influencers are just stealing away advertising dollars from TV/Magazine/Internet to a more targeted audience, what bucket are artist NFT's going to steal from? Nothing that I can see, you'd just have to have more people care about art than currently do, which is a hard sell in my opinion. I think he's right that some NFT from now will be worth millions later.

#6962 33 days ago

If the world goes to the influencers, we've failed as a society. Nothing faker than that 'career'. Influencer mugshot NFT's might be something to get excited about.

#6963 33 days ago
Quoted from taylor34:

What I'm not entirely sold on is whether someone will be able to make their living as an artist at $80k a year solely on NFT's….it just doesn't work like that normally.

They make a good project, that artist may get royalty’s on every aftermarket sale. Look at one of Gary’s Vees collections he’s doing about 25eth in sales on a slow day. 10% royality 2.5eth everyday. https://opensea.io/collection/veefriends.
Originally these sold for 1 Eth, cheapest now is 8.69 eth and the art is garbage but the utility is high, hence the price.

#6964 33 days ago

Dammit.. I’m one of those suckers that left crypto assets on Voyager and now am screwed after they filed for Chapter 11 yesterday!!!

Ugh… I wonder if I should just tax harvest with this or keep whatever they provide… just terrible. Learned my lesson.

#6965 32 days ago

Damn, damn, where is that bottom?

#6966 32 days ago
Quoted from pninja005:

Damn, damn, where is that bottom?

Not yet in sight.

#6967 32 days ago

Just blew through 22k...but I wouldn't get excited.

#6968 32 days ago

If it can get through that 23k barrier it has a long ways to run to the upside, like probably up past $30k.

#6969 31 days ago
Quoted from Astropin:

Just blew through 22k...but I wouldn't get excited.

That’s good for me as Voyager sucked some of my BTC. I’m calling those funds gone… shame on me not reading the details.

Just bought a Ledger from Amazon and will start filling my BTC bag again. This time the right way.

I’ve relied on software wallets and some central exchanges.

It’s about time I use a hardware wallet as i plan to never sell my BTC (at least 10 years).

#6970 31 days ago

I hope those hardware wallets still work in 10 years time

#6971 31 days ago
Quoted from Astropin:

Sharing a little Swan Private Client Newsletter info:
Two of the most common misconceptions surrounding Bitcoin,
blockchain, and cryptocurrencies are the ideas that 1) Bitcoin can be used
synonymously with “Crypto” and 2) A blockchain on its own represents a
new technological innovation.
John Haar
Managing Director, Private Client Services
From the Concierge Desk
When someone implies that Bitcoin is just like any other cryptocurrency out
there, or that blockchain is a new innovation with far-reaching use-cases, I
consider it an indication that the person has not spent significant time
researching and understanding Bitcoin as a protocol, network, and asset. It is
correct to say that Bitcoin is a cryptocurrency. However, this often traps
people into thinking that other cryptocurrencies are similar to Bitcoin.
A blockchain on its own is not a new technological innovation. A blockchain
can be thought of as a type of record or ledger which contains information. A
database is very similar to a blockchain. Databases and ledgers are
incredibly useful in society, but they do not represent a recent technological
breakthrough. Individuals, companies, and governments have been using
databases for a long time.
Historically, a key feature of databases is that they are centrally controlled.
Someone or some group has access to write/edit/audit the content of the
database. All users of the database stakeholders must trust the central party
to follow the rules and behave honestly. Bitcoin is a breakthrough
innovation because it is a system designed such that there is no trusted
party on which we depend to write/edit/audit the record of transactions.
Therefore, a blockchain-based cryptocurrency represents a new and useful
innovation only if it is sufficiently decentralized and distributed. Bitcoin’s
proof-of-work consensus model is the only cryptocurrency which checks
this box. Other cryptocurrencies make claims of “decentralization” but they
use a proof-of-stake consensus model which is prone to centralize over
time, or in other cases we find out that a small group of people have the
ability to make major changes to a cryptocurrency’s history or protocol,
which clearly means they are not decentralized.
As Gigi has said, “Satoshi's breakthrough was to build a system that allows
all participants to zero in on the same truth independently. Proof-of-work is
what allows this to happen.”

Apologies if this has been covered, but a big article in The NY Times recently explained a large, sophisticated research project that basically blew up this notion. The decentralization of Bitcoin has been largely exaggerated. And Bitcoin blockchain anonymity is also bullshit. So, what purpose does Bitcoin serve then?

#6972 31 days ago
Quoted from zermeno68:

That’s good for me as Voyager sucked some of my BTC. I’m calling those funds gone… shame on me not reading the details.
Just bought a Ledger from Amazon and will start filling my BTC bag again. This time the right way.
I’ve relied on software wallets and some central exchanges.
It’s about time I use a hardware wallet as i plan to never sell my BTC (at least 10 years).

Word of caution… be extra vigilant on inspecting the wallet packaging. It is highly recommended to order hardware wallets direct from the manufacturers. As third party sellers can booby trap wallets and reseal them, it’s very rare but worth noting imo. Amazon is probably okay but if any of the tamper proof packaging looks off return it.

Edit: also don’t record your pass phase anywhere on a computer. Like emailing it to yourself.

Quoted from pninja005:

I hope those hardware wallets still work in 10 years time

If your wallet dies the pass phrase can be reloaded on another wallet even from a different manufacturer. If you’re worried about tech advancing to hack into wallets you could set up a multi sig just to make it much harder.

#6973 31 days ago
Quoted from Astropin:

I already posted this. Here is a complete teardown of that report...point by point:
https://www.swanbitcoin.com/fact-check-darpa-funded-report-on-blockchain-centralization/

Think I’ll trust DARPA on this one. And that’s at least the second study that has similar conclusions. But this time it’s different.

#6974 31 days ago
Quoted from Pdxmonkey:

Word of caution… be extra vigilant on inspecting the wallet packaging. It is highly recommended to order hardware wallets direct from the manufacturers. As third party sellers can booby trap wallets and reseal them, it’s very rare but worth noting imo. Amazon is probably okay but if any of the tamper proof packaging looks off return it.
Edit: also don’t record your pass phase anywhere on a computer. Like emailing it to yourself.

If your wallet dies the pass phrase can be reloaded on another wallet even from a different manufacturer. If you’re worried about tech advancing to hack into wallets you could set up a multi sig just to make it much harder.

Dang… did not think of this. I’ve screenshot the item I bought and circled the important information.
Would that put you at ease, or would you recommend to just return and buy from Ledger website?

I mean it says sold by Ledger and shipped by Amazon.

370F1A47-D0E6-4C58-8BD0-85640D3A99D9 (resized).jpeg

#6975 31 days ago

That looks pretty official… should be okay… just double check all the tamper proof packaging. I think eBay resellers were a bigger problem, like I said it’s rare but heads up.

#6976 31 days ago
Quoted from Pdxmonkey:

That looks pretty official… should be okay… just double check all the tamper proof packaging. I think eBay resellers were a bigger problem, like I said it’s rare but heads up.

Just got this email from Ledger.. even they are informing me to be cautious. So, I’m fine so long as I do what the email and you suggest.

For a minute there I was in panic mode, but seems like no matter where you buy you should always be cautious.

After all, people know what your intention is with this device. No matter where you buy.

9FF864C7-59C2-412E-B6CF-ADA76A2FC1CB (resized).jpeg
#6977 31 days ago
Quoted from Pdxmonkey:

Word of caution… be extra vigilant on inspecting the wallet packaging. It is highly recommended to order hardware wallets direct from the manufacturers. As third party sellers can booby trap wallets and reseal them, it’s very rare but worth noting imo

ew (resized).jpg
#6978 31 days ago
Quoted from pninja005:

I hope those hardware wallets still work in 10 years time

Sounds silly but it’s good to plug it in maybe once a year. If they sit that long they can go bad or lose their memory.

-1
#6979 31 days ago
Quoted from TheFamilyArcade:

Think I’ll trust DARPA on this one. And that’s at least the second study that has similar conclusions. But this time it’s different.

Quoted from TheFamilyArcade:

Think I’ll trust DARPA on this one. And that’s at least the second study that has similar conclusions. But this time it’s different.

In order to say DARPA is right and the Swan analysis was wrong you have to tear apart their analysis point by point...which I can assure you isn't wrong. The DARPA report is literally a joke. Whoever they hired had no clue what they were talking about. Kind of sad/scary actually.

#6980 31 days ago
Quoted from EJS:

Sounds silly but it’s good to plug it in maybe once a year. If they sit that long they can go bad or lose their memory.

As long as you have your seed phrase it doesn't matter what happens to the cold wallet.

#6981 31 days ago
Quoted from Astropin:

As long as you have your seed phrase it doesn't matter what happens to the cold wallet.

Sure but you don’t want to have to replace them if you don’t have to with a little maintenance.

Edit I always swap my batteries in pins every year on the first.

#6982 31 days ago
Quoted from Astropin:

In order to say DARPA is right and the Swan analysis was wrong you have to tear apart their analysis point by point...which I can assure you isn't wrong. The DARPA report is literally a joke. Whoever they hired had no clue what they were talking about. Kind of sad/scary actually.

This argument right here sums up the state of the world today.

Guy 1: Look at this, backs up what I believe by people who benefit from it
Guy 2: But look at this, it says the opposite, posted by knowledgable individuals
Guy 1: Nah, those people don't know what they are talking about or have a biased opinion and agenda

#6983 31 days ago

I'm not much of a nft guy, to be honest I still don't fully understand the hype around them. With that said, I did find a project I like, and after buying and selling a few over the last two weeks, I am up about $1500 in profit now. Not a huge amount compared to some, but also not a bad way to help pass the bear market time haha. I'm not in any rush to cash out, so right now is a great time to dca and accumulate.

#6984 31 days ago

....

Think I miss read what you meant

-1
#6985 31 days ago
Quoted from Zablon:

This argument right here sums up the state of the world today.
Guy 1: Look at this, backs up what I believe by people who benefit from it
Guy 2: But look at this, it says the opposite, posted by knowledgable individuals
Guy 1: Nah, those people don't know what they are talking about or have a biased opinion and agenda

Except guy 1 didn’t have any facts.
Guy 2 had provable data.

#6986 31 days ago
Quoted from Pdxmonkey:

Except guy 1 didn’t have any facts.
Guy 2 had provable data.

You missed the point.

-1
#6987 30 days ago
Quoted from Zablon:

This argument right here sums up the state of the world today.
Guy 1: Look at this, backs up what I believe by people who benefit from it
Guy 2: But look at this, it says the opposite, posted by knowledgable individuals
Guy 1: Nah, those people don't know what they are talking about or have a biased opinion and agenda

Just to be clear.... who's guy 1 and who's guy 2 here?

-1
#6988 30 days ago
Quoted from Astropin:

Just to be clear.... who's guy 1 and who's guy 2 here?

If I'm guy 2 this makes sense ...if not, this is an F'ing joke. I only (ever) base my beliefs and strong opinions on the available evidence...never "what I wish to be true". And my beliefs change when the evidence changes.

#6989 30 days ago

The crypto space doesn't really have facts to be honest as far as value goes, it's all speculation for the most part.

Investing gives you an expected return based upon the income generated by an asset, which is usually backed up by historical data. These are usually businesses that sell or produce a product that generates some sort of return on equity.
Speculation is gambling that an asset is going to increase in value while producing no income or betting that it will in the future.

In other terms, you invest in an apartment complex that makes money every month, you speculate on land that you think will be worth a fortune if a business comes to the area (but the land currently produces no income).

Almost everything in the crypto universe is hypothetical. "If this happens, it will be worth a lot of money". "If governments adopt this, it will be worth a lot of money". "Hold everything, never sell, it's going to go up forever". There is no basis for the value, which is why the values fly all over the place. It's just a giant speculative outlet for extra money. That's why Buffet doesn't invest in it, he can't value it. I do think that there's some value in speculative bets in small amounts that pay an outsized return.

Right now the crypto market is essentially a higher beta version of TQQQ. Very high returns at times with very hard drawdowns as well. TQQQ has a 5 year return of about 3x to 4x currently, most crypto starts at 5x.

-1
#6990 30 days ago
Quoted from taylor34:

The crypto space doesn't really have facts to be honest as far as value goes, it's all speculation for the most part.
Investing gives you an expected return based upon the income generated by an asset, which is usually backed up by historical data. These are usually businesses that sell or produce a product that generates some sort of return on equity.
Speculation is gambling that an asset is going to increase in value while producing no income or betting that it will in the future.
In other terms, you invest in an apartment complex that makes money every month, you speculate on land that you think will be worth a fortune if a business comes to the area (but the land currently produces no income).
Almost everything in the crypto universe is hypothetical. "If this happens, it will be worth a lot of money". "If governments adopt this, it will be worth a lot of money". "Hold everything, never sell, it's going to go up forever". There is no basis for the value, which is why the values fly all over the place. It's just a giant speculative outlet for extra money. That's why Buffet doesn't invest in it, he can't value it. I do think that there's some value in speculative bets in small amounts that pay an outsized return.
Right now the crypto market is essentially a higher beta version of TQQQ. Very high returns at times with very hard drawdowns as well. TQQQ has a 5 year return of about 3x to 4x currently, most crypto starts at 5x.

Yeah ... that's not what we are arguing about. This is all about the bs DARPA report and how that report is factually wrong.

-1
#6992 30 days ago
Quoted from Astropin:

Just to be clear.... who's guy 1 and who's guy 2 here?

That was kinda the point, doesn't really matter who 1 or 2 is..that is how 99% of those type of conversations go...and generally..well...both think the other is wrong. It was more of an observation than directly pointed to either of you. I don't know enough about blockchain or BTC or the Darpa report to have an opinion either way....as would be most people.

#6993 29 days ago
Quoted from Zablon:

That was kinda the point, doesn't really matter who 1 or 2 is..that is how 99% of those type of conversations go...and generally..well...both think the other is wrong. It was more of an observation than directly pointed to either of you. I don't know enough about blockchain or BTC or the Darpa report to have an opinion either way....as would be most people.

TLDR…
It’s easier to have a conversation if you know what you’re talking about.

#6994 29 days ago
Quoted from Pdxmonkey:

TLDR…
It’s easier to have a conversation if you know what you’re talking about.

Spoken like a true flat earther! Seriously though, I'm assuming you haven't been in many of the he said/she said conversations around here. It's a broken record of exactly the same scenario above. Had little to do with the actual subject matter. The assumption is that the person reading the post assumes the guy # they relate to. It really doesn't matter if they are right or wrong. You can apply it to pretty much any argument on the internet.

TLDR: I knew what I was talking about. Sorry it went over your head.

#6995 29 days ago
Quoted from Zablon:

Spoken like a true flat earther! Seriously though, I'm assuming you haven't been in many of the he said/she said conversations around here. It's a broken record of exactly the same scenario above. Had little to do with the actual subject matter. The assumption is that the person reading the post assumes the guy # they relate to. It really doesn't matter if they are right or wrong. You can apply it to pretty much any argument on the internet.
TLDR: I knew what I was talking about. Sorry it went over your head.

You're not explaining yourself very well. If both were arguing with no facts (just opinions) then you'd be right...but that's not what happened here.

If one guy has facts and the other has opinion, the facts guy wins the argument 100% of the time.

Clearly this only matters when facts matter...AKA objective reality. If it's subjective (favorite food or pinball machines), then you're no longer dealing with "facts".

How the Bitcoin protocol operates is 100% objective (facts). You're either right (if you agree with those facts) or you're wrong. (period).

#6996 29 days ago
Quoted from Astropin:

You're not explaining yourself very well. If both were arguing with no facts (just opinions) then you'd be right...but that's not what happened here.

It wasn't related to the details of the discussion, but the overall back and forth. It is the same back and forth as many much more controversial topics, and in those scenarios no amount of 'facts' change the other persons mind, and they dismiss anything presented to them because it doesn't fit the narrative they believe. In no way was it intended to say one or the other was correct or wrong (because while I'm learning I still don't know enough about the topic). It was more of a amusing observation....at least amusing to me.

#6997 29 days ago
Quoted from Zablon:

It wasn't related to the details of the discussion, but the overall back and forth. It is the same back and forth as many much more controversial topics, and in those scenarios no amount of 'facts' change the other persons mind, and they dismiss anything presented to them because it doesn't fit the narrative they believe. In no way was it intended to say one or the other was correct or wrong (because while I'm learning I still don't know enough about the topic). It was more of a amusing observation....at least amusing to me.

I generally don't debate to change my opponents mind (they are usually set in their ways)...I debate to change the minds of the onlookers...or to at least make them think. So, while my opponent might not like the facts because it doesn't agree with their preconceived narrative...it could very well affect those who are on the outside looking in.

#6998 29 days ago

Moving back on topic…

Hopped in to Otherside and did the testnet run yesterday. Pretty impressive tech, at the moment I think this might be the front runner for best metaverse ecosystem which is pretty crazy.

#6999 29 days ago
Quoted from Pdxmonkey:

Moving back on topic…
Hopped in to Otherside and did the testnet run yesterday. Pretty impressive tech, at the moment I think this might be the front runner for best metaverse ecosystem which is pretty crazy.

Same. I participated in the test run and it was very smooth. Don’t forget to take part in the First Trip next Saturday…there will be benefits/rewards

B2C40647-20C9-4D02-826A-F0810578075A (resized).jpeg
#7000 29 days ago
Quoted from Astropin:

I already posted this. Here is a complete teardown of that report...point by point:
https://www.swanbitcoin.com/fact-check-darpa-funded-report-on-blockchain-centralization/

Lol. Think I’ll trust DARPA on this one.

Quoted from Astropin:

In order to say DARPA is right and the Swan analysis was wrong you have to tear apart their analysis point by point...which I can assure you isn't wrong. The DARPA report is literally a joke. Whoever they hired had no clue what they were talking about. Kind of sad/scary actually.

Believe what you want. DARPA literally created the Internet (and a lot more) is a haven for super smart people and is a well funded science and research organization. Swan is a business trying to sell you crypto. Or help you trade it. I don’t have to tear apart their analysis at all. It’s all highly self serving and suspicious - if not dubious - on its face.

I’d rather just believe DARPA, and the other recent major academic research project that also explodes a couple of the major myths of Bitcoin. And if their analysis wasn’t perfect, what is? Certainly not Bitcoin. I’m sure DARPA and others will refine their scientific analysis. That’s what science does. This is just the beginning. Of the end.

You do you.

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