Cardanos trying hard to push past the $2.00us mark, but I imagine it will be facing a lot of sell orders at that price.

I like Cardano but I have a hard time seeing it really moon. 6x from here would give it a bigger market cap than ETH...and I don't see that happening anytime soon. Still, we could see a 2-3x from here.

My crypto accounts accumulated total just hit their all time high this hour, woo! Haven't been here since early May.

Apparently it was added on Wednesday, which explains the pump. Seems to happen with every coin that Coinbase adds, sortof like an institutional blessing.

I'm interested in it but at the same time feel like I've missed the boat already at this point, as seems to be my lot in life with this stuff. Promised myself I wasn't going to stick any more money in as I was down by such a considerable amount, but as I'm sure many of you are I'm actually getting closer to parity at the moment.

I’d rather work than play that shit lol

Has anyone looked into AXS as far as fundamentals? I transferred a few hundred into my Coinbase Pro account and I'm not sure what to buy.....

Made me laugh

24024113-1562-49E8-A1C3-ABDBBF1B8F84 (resized).jpeg

Interesting.....

https://file.alchemytech.io/Alchemy_WP-EN.pdf

Just added to Coinbase and recently formed a partnership with Binance a few days ago to offer crypto payment solutions to Shopify. No wonder it's up a few thousand percent.

Well written whitepaper and a pretty good team lineup. It looks like a well structured organization. I grabbed 5,600 of them just for fun. Sooner or later someone is going to come out on top as the preferred crypto payment solution. It might still be dropping from the Coinbase effect, but I'm not going to try and time the bottom. I suck at that stuff. I've learned if I want it to just buy it. If not I end up screwing myself.

I also added a whopping 11 more DOT to my portfolio.

I moved pretty much the bulk of what I have into pancakeSwap staking. It took forever to figure out how to get BNB without having access to Binance itself, but I can explain it now if anyone needs a rundown..

At least so far, that's working out well. Math is coming out right about where the APR currently shows (~96%) Also got the wife's computer set up for mining as well since she hasn't been really using it.

I'd love to dump a ton in there when I sell my Iron Man, but with the POLY hack, a bit nervous about pumping large amounts in there. I'm also concerned that prices do eventually drop to pre-stimmy-check levels means I could lose a LOT of the base value, but at least so far, I'm up 10% on the base value of the tokens alone, which is interesting, but unexpected. Would love for things to hold steady for the next year and get my Ultraman for almost half price...

I'd be more than happy with a 2-3x from here on this bull run. Which I think it can still do. They're introducing smart contracts when crypto fever is starting to pick back up. If they can successful start running smart contracts, with low fees and fast transaction times, as well as the erc-20 converter, they might just gain a few more fans this bull run. And then next bull run, I feel Cardano and Ethereum will really shine. Blockchain technology and use are only going up from here. Though I do believe Bitcoin will always be the king.
Also Cardano started this bull run at .14 cents. So no matter what level it exactly hits, I feel it will be safe to say it mooned by the end of it lol.

that is funny and depressing . LOL.

How about this oldy but goody story we all know.

In May 2010, California student Jeremy Sturdivant, then 19, noticed a bizarre request on a cryptocurrency internet forum: He could receive 10,000 bitcoins, at the time reportedly valued at $41, in exchange for the delivery of two large pizzas to Florida resident Laszlo Hanyecz, 28.

The really sad part is that I was delivering pizzas myself around that time, and opted to not invest in bitcoin because it seemed like such a ridiculous prospect I wasn't going to put any money into it. If a customer had offered this, I would've taken it, though, because 41 bucks was only half of what I was taking home every day in cash. I worked a very busy, very large area (Not kidding when I say our store covered approximately 50 square miles... it was about 10 miles east to west, and about 5 miles north to south....).

cardano (resized).JPG

Smart, it can be dangerous chasing gains.
I haven’t rebought any.

pinside (resized).JPG

Six months later, its fun to look back at when I first jumped in. Shoutout to Pdxmonkey and everyone else here for encouraging me to just jump in, regardless of how big or small I wanted to go. Now I'm closing in on 12,000 ADA, and I still am tempted to buy more haha. Though maybe I'll just let my staking be my gains for now until we get a decent pullback.

Yeah, I should have said "moon from here", because yes, it has already mooned.

I do have to say that I have a fundamental issue with this buzzword being thrown around..."DeFi".

One thing first. To my knowledge the only crypto (with any reasonable network effects) that is truly decentralized, is Bitcoin... that's it.

All of the top alts are centralized. ETH, Cardano, Link, DOT, BCH, LTC....and on and on...

So what's with this buzzword?

"DeFi refers to a system by which software written on blockchains makes it possible for buyers, sellers, lenders, and borrowers to interact peer to peer or with a strictly software-based middleman rather than a company or institution facilitating a transaction."

Okay? But if the underlying blockchain itself isn't decentralized, should the term still apply?

Anyone good at word games?
Pussy.financial is doing a word puzzle. If you can guess the wallet phrase it’s about 200m in tokens. Over 5k usd. Not many people trying too.

Hints summary - IT’S GETTING CLOSE
Word 1: A $Pussy likes catnip, a $DOGE likes a
Word 2: $SUSHI $YAM $BAKE $KIMCHI consumed at night is called
Word 3: Hint - #FreeBritney #Gimmie
Word 4: Hint- A coMbination but not cryptography
Word 5: Hint- Pwei, Twei, Gwei, Mwei, Kwei, and Wei are all units of #Ether
Word 6: Hint- The process of hiding your blockchain transaction. Not ing
Word 7: Hint - Dry, not sweet and fleeting.
Word 8: Hint - EIP 1559 underground
Word 9: Hint - 5,9,19,47,4
Word 10: Hint- It may be a #doge but we welcome him to our charts
Word 11: Hint - They say ‘ wen lambo ‘ $PUSSY people say ‘ wen __ ‘
Word 12: Hint- Alone I am less then nothing. I’m stubborn yet I show much.

Word 1 is bone (confirmed by contest organizers).

I would say yes as the lending is the focus not the tokens.

I mean, I get it...it's the type of transaction that is occurring. A transaction without the need for an institution or "middle man". Maybe "Blockchain Transaction" would be a more apt name...but less catchy.

Just ran the numbers and Crypto now represents 38.5% of my total liquid net worth.

Trying to decide if that's enough

To piggy back on what Pdxmonkey said about lending I think the bulk of the lending isn’t someone that’s trying to buy a car, but someone that wants leverage.

I’m intrigued by this statement. How are they not decentralized?

Because they all have controlling individuals or parties. People who can decide to make changes to the protocol without needing consensus (or having a huge influence on consensus). We've seen it happen with ETH on multiple occasions, including simply wiping out a major theft by hard forking. PoS systems can never be truly and fully decentralized. Those with the most "staked" will always have the power. BCH is still PoW but controlled by a relatively small group; plus it's larger block size forces it to be more centralized than BTC due to the power requirements to validate the blocks.

Maybe I'm splitting hairs, but being MORE decentralized is always better in the long run. No one can take over the BTC protocol...you just can't say that with confidence about any other crypto due to either, the size of the network, or controlling interests.

If Satoshi was still around BTC would be less decentralized just on that fact alone. Because he could heavily influence the future of the protocol and more easily gain consensus.

I think I'm addicted to this thread, can't wait to see whatever the next post is. You all have been incredibly helpful and informative here, so thanks again.

When do people think the next pullback will be? Things have been running hot for a few days and I'm thinking of selling some of my lesser coins, waiting for a pullback, and putting it all into BTC, ETH and ADA.

I do not try to "time the market"...I do buy the "dips" however.

I like your plan though (of where to put the proceeds).

Seeing everything the last months my plan is to dump all the lesser coins for BTC, ETH and ADA as soon as I break even on them.

They all follow the same curve anyway.

I think were headed towards coin consolidation to 3-4 at some point. We know the first 2, my bet is ADA is next. Maybe a few others hang around like Matic. Theres always litecoin too.

But I think its a safe bet we see a lot of these alt coins collapse at some point.

Agree. My main reason for buying shitcoins/altcoins is hoping they pop big for a moment and then to sell them. I missed that boat with Dodge and honestly am pretty bad at paying attention to what's new but not a scam and about to pop. Altcoins generally for me are not a long term play.

When congress taxes crypto. That will be a temp dip no doubt

Even now its taxed as income in a capital gains way. Last years tax forms asked if there was any crypto currency related income.

Just cashed out a fraction of my ADA and got back my initial investment.
Something I’ll probably regret in the years to come but sure feels good right now.

Good on you for doing that though. Now you can ride the rest worry free.
I want to do the same, but I keep changing my mind on what price I want to cash out a bit to cover my initial investment. Knowing me I’ll push my luck to far and not get it done before the next bear market happens lol. We shall see.

Any chance you'd want to write up a guide on what you did.

I'd be interested in playing with $1k or so.

Yeah, it's actually not THAT complicated! I'm not sure why it took me like 2 months to figure this out, but here's the gist of it...I'll find the youtube video I watched after I get home from work tonight and edit it in here..

The thing is you cannot transfer native Binance coin to Metamask for use on things like PancakeSwap, and the only option I had to buy Binance coin is for the native one, not the smart chain which PS uses, so you need some way to facilitate both the purchase of BNB, as well as a mediator to get it over to the smart chain.

1. Set up Atomic Wallet account if you don't already have one.
2. Install Metamask and set up account if you don't already have one.
3. Make sure Metamask has the Binance and Binance Smart Chain networks loaded on it....it should by default but instructions to add them are easily google-able.
4. Download the Binance Chain Wallet extension for Chrome (https://chrome.google.com/webstore/detail/binance-chain-wallet/fhbohimaelbohpjbbldcngcnapndodjp?hl=en)
5. Transfer crypto to Atomic Wallet, or purchase BNB coin outright. Make SURE you doublecheck the minimums for transfers, swaps, and purchases, because Atomic vastly prefers doing larger transfers. If you leave small amounts of crypto in Atomic, you're likely going to have to buy or send more to the wallet to get stuff out of it. I've got about 30 bucks in Doge and ETH just sitting there because they're too small to transfer out lol.
6. Get address from Binance Chain Wallet.
7. Send BNB coin from Atomic to Binance Chain Wallet.
8. Send BNB from Binance Chain Wallet to the "0x" address for your Metamask. BCW *should* show that this will be a cross-chain transfer, as you're sending it to the Binance Smart Chain.
9. From there, you can use Metamask on PancakeSwap to trade BNB for Cake for staking, or doing liquidity pairs, or whatnot. Basically at this point you have access to all the tokens on the BSC via swaps.

Yeah, you lose a little bit in fees having to go this route, but it's relatively quick and easy. The longest wait part for me is doing the swap on Atomic for BTC->BNB.

I *highly* recommend doing a minimum value transfer first (or just slightly more than minimum) even though it's extra fees, just to make sure you're doing it correctly. That way if you send it to some fruity address that's not recoverable, you're out like maybe 30 bucks at most.

*edit* Here's the video link for my fellow visual people.

This is something Ive learned to do with stocks as well. Its awesome taking out your initial investment and just letting the profits ride. Sure sometimes youll be kicking youself thinking what if I kept that, but many times it goes the other way as well.

Thanks for typing all that out. I found a different video a where the guy sent USDT to Binance and then converted that into BNB. I was going to go that route, but I can't seem to buy USDT on Coinbase? It's telling me that USDT is in "Post mode only".

Anyone know what the hell that means? It also says "Market orders have been temporarily disabled for this market".

You have to set limit orders to buy not market orders.
That’s what that verbiage is for stocks on fidelity anyway. I don’t use Coinbase but imagine it’s the same.

I dunno why Coinbase would have USDT frozen, or why they wouldn't support it on their platform. It could be related to that Poly hack, as I believe USDT did freeze some assets afterwards. They may be trying to unwind all that. To be honest I've kind of moved away from Coinbase in general. The only reason I used them in the first place at all was because NiceHash withdraws to Coinbase with a much lower or zero fee. But the fees to move it out of Coinbase to where I needed it negated the benefit so.....why am I paying a middleman?

"About one hour after Poly announced the hack on Twitter, the hacker tried to move assets including USDT through the Ethereum address into liquidity pool Curve.fi, records show. The transaction was rejected."

Okay, legit. I love it. I've always had a weak spot for silly covers of other songs, so you got me there. My wife gets annoyed when I insert lyrics into her favorite songs that don't belong there.

So I got the USDT, sent it to Binanace, sold it (since there isn't a convert option), bought BNB, but now I can't send it to Metamask. It says my address format is invalid. I guess it's because the Binance.US BNB is different than the Binance.com BNB. One is BEP2 and the other is ERC20. I guess Metamask uses the ERC20 and Binance.US only allows you to use the BEP2.

What a pain in the ass. Now I'm stuck.

You need to change the network. It’s a setting.

https://www.google.com/amp/s/academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain.amp

You can't apparently if you're using Binance.US. If you have access to Binance.com, you can switch between networks. I ended up using the Binance Smart Chain Tool to make the swap from BEP2 to ERC20 and then sent it to Metamask, swapped it for CAKE and then staked it in the pool.

Started with $50 (just for testing) and ended up with $39 after fees.

But, I am officially staking CAKE earning almost 94%. I still can't wrap my head around how that's even possible though.

CAKE Staking (resized).PNG

Ok, so here is what I did to get this to work.

1. Install Metamask in Firefox and create the wallet.
2. Manually add Binance Smart Chain Mainnet to Metamask (https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain)
3. Install Binance Chain Wallet in Firefox and create wallet.
4. Buy USDT on Coinbase
5. Send USDT to Binance
6. Sell USDT and then use USD to purchase BNB
7. Send BNB to Binance Chain Wallet address (Make sure the address starts with bnb)
8. Send BNB from Binance Chain Wallet to ERC20 Metamask address

9. Swap BNB to CAKE (Make sure you leave some BNB in your wallet for transaction fees)
10. Stake CAKE

It looks like you can do it with USDC and then convert it on Binance, but I did it with USDT first and it worked, so I wasn't going to change anything. USDT fees are about $2.50 per move, so it's kind of expensive.

Anyway, that's what worked for me. I'm thinking about moving my SNX from Celsius and dumping that into CAKE. But that would be a huge pain in the ass.

Just to follow up on my last post. I'm not 100% sure it's actually worth it unless you're going big. I paid about $40 in fees to make it happen which is about 8%. It will take about 30 days to get the fees back and I'm assuming that it will be the same amount to go back the other way. So you're losing 2 months.

I've been working for the last hour or so trying to get the transactions lined up so they can be reported. There is no easy export functionality for either the BSC or Metamask wallets. So you're dealing with a ton of transactions on the way in, let alone the rewards transactions and the transactions back out.

It's going to take hours of time to track. If you aren't going to report it and pay taxes, that's one thing. But if you going to do it legitimately, I really don't think it's worth the time for anything under $10,000.

It's definitely not worth it for the $500 I put in there that's for sure.

Does anyone have their bank account linked to Binance through Plaid? Not sure how much I trust doing it through Plaid.

What was the ratio of Coinbase fees to just gas fees? 50 bucks on gas for a single set of transactions seems really odd, other than the fact that you did it in the middle of the day on a Saturday, which is going to contribute quite a lot to how much you're having to spend in gas versus submitting these transactions after say 10pm Central or so.

I did it twice actually, so it would have probably been half of that amount. I first did it with $50 and then did the entire thing again with the balance of $450.

USDT purchase Fee - $7.34
Transfer $50 USDT from Coinbase to Binance - $3.57
Sell $50 USDT - $0.25
Buy BNB - 0.00061 BNB $0.25
Send BNB to BSC Wallet (~$0.25)
Send BNB to from BSC Wallet to Metamask Wallet - 0.000075 BNB (~$0.03)
Fee to unlock CAKE pool - 0.000222 BNB (~$0.09)
Convert BNB to CAKE - 0.00061134 BNB (~$0.25)
Send CAKE to Pool - 0.00100683 BNB (~$0.41)

So the initial $50 was a total of about $12. That's provided I got all the fees correct going through a pile of transactions. What a pain.

Pretty much says it all right there when the Coinbase fees are over 50% of your cost. I agree that if that's your only option, that's not going to be very viable for smaller transactions. I would have to go calculate the specifics, as I just tend to give it a glance and if it's not entirely dookie, I don't pay much attention to gas fees. I'm pretty sure my exhange fee on Atomic for BTC->BNB was around 1.75 for 270 bucks worth. Fees are going to be higher on outright purchases with fiat...especially if it's via credit/debit card, though. I have done that on Atomic, and I remember being irritated, but I'd have to go look up the specifics.

FWIW, the fees you listed for the other parts all look to be around what I would expect to see.