(Topic ID: 287467)

Cryptocurrency, Bitcoin, and Decentralized Finance (DeFi)

By Isochronic_Frost

1 year ago


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#2151 1 year ago
Quoted from Spyderturbo007:

Quite the nice 13% beat down overnight for no apparent reason.

End of the month after a little rebound

#2152 1 year ago
Quoted from Spyderturbo007:

Quite the nice 13% beat down overnight for no apparent reason.

I think there was a banking conf where they had a section on Crypto...so not many good things were said about it. We'll see...

#2153 1 year ago

I think some Bitcoin options expire today too.
I really have no idea if things are going up or down from here. So I'll just keep holding, staking and hoping for the best.

#2154 1 year ago
Quoted from TrevixClemson:

I sold my little bit of SushiSwap I bought yesterday when it hit $7 at $12 today (my target) and it netted me enough to buy my daughter some cool clothes without having to thrift from my actual budget.
Might sound like chump change, but any money that doesn't come out of the budget helps in the overall...

Don't let the amount bother you! I've been playing with various crypto for a year or so with less than 250 bucks base investment in. I don't have money to risk excessively, and my priority will always be my 401k and company match first. We can't all throw around 15 or 20 grand like it's a fart on the wind, and that's okay. It's just another option to invest.

Yeah, I can only make 8-12 bucks a day mining via NiceHash, but you know what? After electricity cost....that pays my full electricity bill and then some. That's not insignificant to me, and it means I have more money to save or pay down my house.

#2156 1 year ago

Biden has announced a $6tn spending plan that would mean debt levels not seen since WW2. I believe 117% of GDP was mooted. There’s pain for wealthy people in it to via tax rises.

Obviously it might not pass as is, but I wouldn’t be surprised to see people scrambling for safe havens again. Of course, I wouldn’t expect the Government to take that lying down either.

Interesting times ahead.

#2157 1 year ago

Anyone else thing the bull run is over and we are back in a bear market? Good news does nothing, any breakout gets crushed at the 20 day moving average and most analysts I follow are calling for further downside. Some eyeballing BTC at $20,000.

#2158 1 year ago

I don’t think it’s bear time yet. No one knows for sure however.

#2159 1 year ago
Quoted from Durzel:

pain for wealthy people

Is it actual pain, or just more rich white guy alligator tears? And if it is...why? They're rich. If they overextended themselves enough that a 2.6% cut in their income, which at the low end of the bracket is roughly 10,100 dollars ("top individual income tax rate would rise to 39.6 percent from 37 percent, reversing the Trump administration’s tax cuts for the highest income taxpayers.") is going to sink them or cause them any REAL pain.....out of FOUR HUNDRED THOUSAND dollars a year...

They done f'ed themselves there. You'd have to be a blithering idiot to make 388k/year and be reliant on a margin of 10k to separate living comfortably from having any kind of difficulty. Idiots living above their means...

I make like 50k/year. I've taken roughly 5-7% in pay cuts in the form of increased medical premiums over the last 6 years! Learn to manage your money, people. Every bloody raise I get annually is immediately mooted 3 months later when they tell us our new medical costs.

Anyways...more on topic... Doge is bumming me out. Gonna have to have some diamond hands for a while, I guess.

#2160 1 year ago
Quoted from Pdxmonkey:

I don’t think it’s bear time yet. No one knows for sure however.

5 months of gains wiped out and still going. Every metric turning bearish, analysts calling it the next crypto winter, fear index close to its all time high, BTC dominance the lowest in years, derivatives market all bearish and you could go on and on.

There really isn’t anything pointing the other direction.

#2161 1 year ago
Quoted from Spyderturbo007:

5 months of gains wiped out and still going. Every metric turning bearish, analysts calling it the next crypto winter, fear index close to its all time high, BTC dominance the lowest in years, derivatives market all bearish and you could go on and on.
There really isn’t anything pointing the other direction.

I'm newer to crypto, but agree that you have to look really hard to find anything that doesn't look like a bear market forming in crypto.

#2162 1 year ago

On the upside, I feel like I've been waiting years for a really big bear market in crypto to put money in so.....

#2163 1 year ago

Market has been going down for a while now, yet I keep buying in small chunks BTC. I still believe it will pick up (one day).

However, nobody knows what tomorrow brings or what the bottom will be so basically with every buy order I lose money at the moment which is a weird feeling.

#2164 1 year ago
Quoted from pninja005:

Market has been going down for a while now, yet I keep buying in small chunks BTC. I still believe it will pick up (one day).
However, nobody knows what tomorrow brings or what the bottom will be so basically with every buy order I lose money at the moment which is a weird feeling.

I don’t think that the repo market flux is helping either. Usually when there are problems there risk assets have issues. Which may be the reason the whole thing started collapsing a few weeks ago.

#2165 1 year ago
Quoted from pninja005:

Market has been going down for a while now, yet I keep buying in small chunks BTC. I still believe it will pick up (one day).
However, nobody knows what tomorrow brings or what the bottom will be so basically with every buy order I lose money at the moment which is a weird feeling.

I think it will be down possibly for years. All those stimulus checks funded the 2020 Crypto boom no doubt and that money is gone now from people offloading to cash. I have a couple I’m going to keep but all the alt coins are getting dumped

#2166 1 year ago

I’m fine holding and staking if things turn bearish for a few years.
But right now I’m going to see how this weekend dips, and then compare it to last weekend. I don’t think it will be a for sure indicator on things, but if this weekend responds stronger than last weekend did, it should count at least a little bit for something.

#2167 1 year ago

ADA and LINK are all that I hold now, I will consider picking up some Doge if it drops under .10 cents just for fun.

#2168 1 year ago
Quoted from Concretehardt:

ADA and LINK are all that I hold now, I will consider picking up some Doge if it drops under .10 cents just for fun.

Link is one that I wish I had grabbed when everything had the big drop. I’ll likely grab some in the future at some point though.

#2169 1 year ago

This is good time to get cash ready for some buying on the dip.

#2170 1 year ago
Quoted from Spyderturbo007:

5 months of gains wiped out and still going. Every metric turning bearish, analysts calling it the next crypto winter, fear index close to its all time high, BTC dominance the lowest in years, derivatives market all bearish and you could go on and on.
There really isn’t anything pointing the other direction.

Quoted from Astropin:

I'm willing to bet the bull market is not over...any takers?
The bet would be made in BTC.
I'll bet we still hit at least 100k...this year.
Bet size 0.1 BTC. (Just for total clarity .1 BTC would be = to $10,000 usd if it is at 100k).
Actual bet payout would be made on January 1st 2022.
That means if the price on that date is 200k, the payout would be = to 20k. If the price is 55k then the payout (assuming Bitcoin hit 100k earlier in the year) would be = to 5.5k.
If it never hits 100k you win, and I pay you 0.1 BTC on January 1st.

#2171 1 year ago

It’s tempting to take your bet and hedge it against a long call at 75k. If you win the bet the long call will cover my lose but if I win the bet I lose the call (could sell it for slight recoup). Best outcome is it hits 99k no higher.

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#2172 1 year ago

My 6 month old portfolio has taken a around 18% hit of late. I have tried to diversify early. Btc being one of my largest has been hit hard, im gonna hodl and hope the rest of the year pans out better, worst pain for me was getting my gf involved about a month ago, she jumped in at the peak
Big tax fears here in Australia atm. The tax department is really putting the wind up Aussie Crypto

Screenshot_20210530-171232_Swyftx (resized).jpg

#2173 1 year ago
Quoted from sixtyfourbits:

I’m fine holding and staking if things turn bearish for a few years.
But right now I’m going to see how this weekend dips, and then compare it to last weekend. I don’t think it will be a for sure indicator on things, but if this weekend responds stronger than last weekend did, it should count at least a little bit for something.

It’s still early in the day, but Cardanos had a much stronger weekend so far than the last. Last Sunday it hit 1.35. Today it’s currently 2.02. I’m quite happy with how it’s handled the big dip and recovery so far
Edit: prices in Canadian

#2174 1 year ago

The bet has a limited upside for me and an unlimited downside without a hedge. It's stacked in your favor so I'll have to politely decline.

#2175 1 year ago
Quoted from Pdxmonkey:

It’s tempting to take your bet and hedge it against a long call at 75k. If you win the bet the long call will cover my lose but if I win the bet I lose the call (could sell it for slight recoup). Best outcome is it hits 99k no higher.
[quoted image]

Can you explain what that screenshot means? I don't understand any of that crap.

#2176 1 year ago

It’s a derivative play as an option.

https://www.investopedia.com/options-basics-tutorial-4583012

Making a similar ish bet against Astro’s bet.

#2177 1 year ago

I was playing around with doing some liquidity pools on uniswap yesterday. Anybody done this before? I have some questions.

#2178 1 year ago
Quoted from Spyderturbo007:

The bet has a limited upside for me and an unlimited downside without a hedge. It's stacked in your favor so I'll have to politely decline.

Yeah...I wouldn't take my bet without a hedge...but I'm bullish. I probably would take it with a hedge. It will be fun just to see how it all plays out.

#2179 1 year ago
Quoted from Pdxmonkey:

It’s tempting to take your bet and hedge it against a long call at 75k. If you win the bet the long call will cover my lose but if I win the bet I lose the call (could sell it for slight recoup). Best outcome is it hits 99k no higher.

So you're using ledgerx for your option plays? I kind of want to give that a roll, but getting annoyed that there's seemingly no single spot to handle all of my crytpo needs.

#2180 1 year ago

Yeah that’s the best I could find using US places. I’m not too keen on vpning to deribit.

Yes the passwords and usernames across so many exchanges and wallets is hard to track.

Bitcoin car in Indy500 today, first time rooting for a car. 5th place right now.

#2181 1 year ago
Quoted from Pdxmonkey:

Yes the passwords and usernames across so many exchanges and wallets is hard to track.

I’d recommend Bitwarden.

https://bitwarden.com/

If you’re concerned about it being cloud based, you can combine it with a 2FA solution in case the database where to be compromised somehow. So even if they got your Coinbase login credentials they couldn’t do anything without the 2FA.

I prefer something other than SMS or email for 2FA. I’ve posted this before but nothing wrong with shoving security down everyones’ throat.

https://www.yubico.com/

I use the 5C NFC version and bought a 2 pack. The Yubikey is also password protected so you can’t even view the 2FA codes without a password.

You’d literally need my Bitwarden username and password along with my physical Yubikey and the password for the Yubikey to get into my account.

If you want something local you can also use KeePass.

https://keepass.info/

#2182 1 year ago

I've thought about something like keepass. How well does it work across multiple devices? I sign into various sites via several computers and my phone.

Passwords are getting out of control. My work computer requires a passphrase that's something like 30 characters long and has to be updated every 90 days and must be x% different than the previous password. Not only do you have to remember the passphrase, you have to be able to type it with perfect precision blind. I've been close to throwing the damn laptop against the wall on several failed login attempts, and I'm a pretty calm dude.

#2183 1 year ago
Quoted from Deaconblooze:

I've thought about something like keepass. How well does it work across multiple devices? I sign into various sites via several computers and my phone.
Passwords are getting out of control. My work computer requires a passphrase that's something like 30 characters long and has to be updated every 90 days and must be x% different than the previous password. Not only do you have to remember the passphrase, you have to be able to type it with perfect precision blind. I've been close to throwing the damn laptop against the wall on several failed login attempts, and I'm a pretty calm dude.

I think having 30 character passwords with no other requirements is tons better than the minimum 8 chars with one number, one uppercase, one special character deal.
Much easier to remember, much harder to crack.

#2184 1 year ago

Is an Antminer S9 (or 2-3 of them) worth it/profitable? I see profitability estimates all over the place and was hoping to hear from someone who actually has one.

#2185 1 year ago
Quoted from GTO:

Is an Antminer S9 (or 2-3 of them) worth it/profitable? I see profitability estimates all over the place and was hoping to hear from someone who actually has one.

I doubt it, that's all there is for sale around here.

#2186 1 year ago

Kinda off topic, but should nvidia gt 3060 card prices remain stable for the next month or so? I intend to buy a PC and sell the video card to defray my cost. Thanks for any advice!

#2187 1 year ago

A bunch of people at work are all excited about safemoon. I threw a few hundred at it just to see what happens.

This is my first adventure into crypto. Anyone else buy into this or have thoughts on in?

#2188 1 year ago
Quoted from davijc02:

A bunch of people at work are all excited about safemoon. I threw a few hundred at it just to see what happens.
This is my first adventure into crypto. Anyone else buy into this or have thoughts on in?

Just my opinion...pump and dump coin. You might make some fast money; you might lose it all.

#2189 1 year ago
Quoted from Spyderturbo007:

The bet has a limited upside for me and an unlimited downside without a hedge. It's stacked in your favor so I'll have to politely decline.

That is what I said last week. I guess nobody wanted to accept my bet I threw out.

#2190 1 year ago
Quoted from Astropin:

Just my opinion...pump and dump coin. You might make some fast money; you might lose it all.

You are probably right. If I lose it all oh well. Kinda just fun to dream with the boys at work on the what if this goes somewhere.

#2191 1 year ago

What exchange are you buying safemoon on? Are most traders on here using multiple exchanges? I’d love to just have most options available thru one or two.

#2192 1 year ago

Just looked at my original ETH purchase from 2017. I had picked up them up at $232.90.

#2193 1 year ago

I bet everyone here wins and loses money. Therefore you all should send all your Crypto to my wallet. It’s only fair that you do

#2194 1 year ago

I bought at pretty much the height of BTC at £40,500 (~$57,400), and then subsequently traded out some of it to buy ETH and ADA when they were lower (but still quite a lot higher than they both are now). I don't even know if that was a particularly smart strategy, but I wanted to diversify my portfolio as I was ~80% BTC at that point.

As things stand I'm about 33% down on what I originally put in.

In some ways it's comforting being down, because short of trying to daytrade my way out of the hole there isn't a whole lot I can do except wait.

As a relative novice - is there anything I can do with my holdings that would see me slowly improve my position? (random market depressions notwithstanding)

#2195 1 year ago

I feel very fortunate with this dip. Since February I’ve been putting “play” money into crypto. When doge spiked, I moved some profits over to Bitcoin, and because of that I was able to stay positive on my portfolio. It hasn’t dipped below my initial investment, and hopefully it doesn’t. Doge has almost dropped to my buy back-in price, but regardless, I’ll be adding some more crypto bit by bit every couple weeks.

16
#2196 1 year ago

A son asks his crypto investing dad for 1 bitcoin for his birthday. His dad replied:

$60,000?! What the hell do you need $40,000 for? $50,000 is a lot of money!

#2197 1 year ago
Quoted from Mbecker:

What exchange are you buying safemoon on? Are most traders on here using multiple exchanges? I’d love to just have most options available thru one or two.

I’m using trust wallet. Buying BNB smart chain and then pancake swapping into safemoon.

Its a very odd process. Probably other ways to do it that’s just the way I knew how. They are on a handful of exchanges to my knowledge.

They are supposedly beta testing their own wallet middle of this month. They claim they will have their own exchange too as well as a credit card.

They have a lot of ideas. We will see how many actually get implemented and how well.

#2198 1 year ago
Quoted from Durzel:

I bought at pretty much the height of BTC at £40,500 (~$57,400), and then subsequently traded out some of it to buy ETH and ADA when they were lower (but still quite a lot higher than they both are now). I don't even know if that was a particularly smart strategy, but I wanted to diversify my portfolio as I was ~80% BTC at that point.
As things stand I'm about 33% down on what I originally put in.
In some ways it's comforting being down, because short of trying to daytrade my way out of the hole there isn't a whole lot I can do except wait.
As a relative novice - is there anything I can do with my holdings that would see me slowly improve my position? (random market depressions notwithstanding)

IMHO, the best thing you could do would have been adding more during this mini crash and lowering your cost basis. Other than that, just holding is your best strategy. My entire strategy has been, buy, hold, and buy the dips.

I originally bought in Sept. of 2017. Things took off in November, and by end of December I was way up. Then it all crashed...hard. I was down to less than 1/3rd of my original buy in.

I held...then I bought more when BTC was at 4k. Here's the thing... almost no one was buying at that time. Everyone was panicking. That's when you buy. These past few weeks is when you buy... I've been buying... and actually raising my cost basis this time.

Buy when everyone is fearful. Hold when you can't buy, or it is shooting up.

I'm not going to say I've always avoided the peaks...I bought a little BTC at $60,400. But I don't sell. The only sale I've made was ETH at 4100 to buy more BTC.

#2199 1 year ago
Quoted from Durzel:

I bought at pretty much the height of BTC at £40,500 (~$57,400), and then subsequently traded out some of it to buy ETH and ADA when they were lower (but still quite a lot higher than they both are now). I don't even know if that was a particularly smart strategy, but I wanted to diversify my portfolio as I was ~80% BTC at that point.
As things stand I'm about 33% down on what I originally put in.
In some ways it's comforting being down, because short of trying to daytrade my way out of the hole there isn't a whole lot I can do except wait.
As a relative novice - is there anything I can do with my holdings that would see me slowly improve my position? (random market depressions notwithstanding)

As a few guys have mentioned, buying the dips, and then just holding and waiting should help. I know some guys who daytrade and have success with it. I feel that first thing I try that, I'll buy too high, sell to low, and just end up frustrated haha.
One of the biggest reasons I went with Ada (and I sound like a broken record about it by now haha) is the staking. It's easy to do, costs nothing but time, and I get free Ada every five days from doing it. I currently make about 1.75 free Ada a day. So even if I don't feel like buying, just by holding I'm adding to my bag. Now, staking only adds so much depending what you have. I get about 8-9 Ada every 5 days. I have a friend who is earning over 50 ada every 5 days. That's pretty sweet profit for free just by staking.

#2200 1 year ago

https://www.google.com/amp/s/www.coindesk.com/nashville-tezos-irs-tax-suit%3famp=1

Interesting case about staking, I hope they win.

Also if you like staking, you should look into liquidity pools. I don’t know enough about it to fully recommend it but so far the returns blow staking out of the water.

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