Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

[GRHorn 105]

14 minutes ago, bluto said:

Couldn’t resist the bit dip at sub 54

Thanks for calling it out. Did the same. 

[Dbeasy 15085]

Spent the last several days trying to setup accounts and move ETH. Holy shit the cost to move ETH is crazy due to gas. Trying to move a few dollars from coin base to meta mask and the cost is $6 to move it. But I need ETH for NFT. 

[bluto 4942]

Thanks for calling it out. Did the same. 

Seems like once it crosses a decade mark it doesn’t retreat back two of them, ie I don’t think it’s going below 50 after topping 60

[Nice Guy Eddie 13522]

Do many of you stake your coins or gain interest off of them? I've been using Celsius and BlockFi to earn interest. Anywhere from 5-8% APR. I find the risk to be low but it would be painful if either company had a hack or stole my coins.  It almost feels criminal to not find methods to earn from my crypto holdings.

I've also played around with staking some coins for what is effectively interest. This is safer as I still retain ownership of the keys BUT I usually have to keep the stakes for a certain period of time. but since I hodl, this is low, low inconvenience.

There are other more exotic methods to earn rewards but I do not know enough about them yet.

[GRHorn 105]

22 minutes ago, Nice Guy Eddie said:

Do many of you stake your coins or gain interest off of them? I've been using Celsius and BlockFi to earn interest. Anywhere from 5-8% APR. I find the risk to be low but it would be painful if either company had a hack or stole my coins.  It almost feels criminal to not find methods to earn from my crypto holdings.

I've also played around with staking some coins for what is effectively interest. This is safer as I still retain ownership of the keys BUT I usually have to keep the stakes for a certain period of time. but since I hodl, this is low, low inconvenience.

There are other more exotic methods to earn rewards but I do not know enough about them yet.

I own one shitcoin that I stake. Decred. I’ve been hodling that one since 2017. 
 

I’ve posted this before. As far as rewards go, I use both Lolli and Fold. Lolli is an app/website that give you a percent back in BTC. The amount differs based on the vendor. The rewards are held back for a time to ensure that there’s no return. 
 

Fold is an app where you purchase gift cards from merchant and get a percentage back in BTC. The amount is smaller than Lolli but it’s immediate. Amazon you get 1.5% back. Bass pro shops 7% back. There’s a lot of options. They also have a debit card where you spin a wheel for different rewards each purchase. I’m not sure how they’re having people qualify for the card currently. There was initially a wait list. I’ve had the card for a while. It’s pretty cool. 
 

This are all small amounts you earn, but I’ll take every “free” drop In the bucket I can get. I’m going to shop at Bass Pro or Chipotle anyway. 

[Nice Guy Eddie 13522]

9 minutes ago, GRHorn said:

I own one shitcoin that I stake. Decred. I’ve been hodling that one since 2017. 
 

I’ve posted this before. As far as rewards go, I use both Lolli and Fold. Lolli is an app/website that give you a percent back in BTC. The amount differs based on the vendor. The rewards are held back for a time to ensure that there’s no return. 
 

Fold is an app where you purchase gift cards from merchant and get a percentage back in BTC. The amount is smaller than Lolli but it’s immediate. Amazon you get 1.5% back. Bass pro shops 7% back. There’s a lot of options. They also have a debit card where you spin a wheel for different rewards each purchase. I’m not sure how they’re having people qualify for the card currently. There was initially a wait list. I’ve had the card for a while. It’s pretty cool. 
 

This are all small amounts you earn, but I’ll take every “free” drop In the bucket I can get. I’m going to shop at Bass Pro or Chipotle anyway. 

FYI, BlockFi is slowly rolling out a Visa credit card that is supposed to pay back 1.5% in bitcoin on all purchases. It's a bit lower than some of my other cash back cards but I might switch to this to continually stack sats.

[bernorange 8363]

6 hours ago, Nice Guy Eddie said:

Do many of you stake your coins or gain interest off of them?

I bought some DOT on the Kraken exchange.  It offers staking so I staked it just to see how it works.  The exchange estimated 12% annual return.   It pays out weekly.  Last I checked, I was getting something like 0.17% each week.  Better than nothing I guess.  It's a really small play, so low risk as far as I'm concerned.

 

[LABEVO 928]

 

[bernorange 8363]

Can anyone here unpack this for me?  What is he talking about?

Quote

... Worse yet, the Bitcoin price is a Ponzi scheme driven by the issuance of the stable coin Tether, which has never accounted for the billions of dollars that have been taken from naive Tether investors. ...

https://dailyreckoning.com/the-bros-are-preparing-their-next-attack/

[ztejas 43528]

On 3/15/2021 at 9:13 PM, bluto said:

Seems like once it crosses a decade mark it doesn’t retreat back two of them, ie I don’t think it’s going below 50 after topping 60

It doesn't until it does. Tough to say since it's done nothing but skyrocket since 2020 and seems to have a massive amount of momentum right now. If you go back a little further - it almost hit 20k in December 2017 and YTD later it was just over 3k. 

[bluto 4942]

Can anyone here unpack this for me?  What is he talking about?

... Worse yet, the Bitcoin price is a Ponzi scheme driven by the issuance of the stable coin Tether, which has never accounted for the billions of dollars that have been taken from naive Tether investors. ...

https://dailyreckoning.com/the-bros-are-preparing-their-next-attack/

Just based off his bio, he’s a hardcore goldbug so there’s that angle

[bluto 4942]

It doesn't until it does. Tough to say since it's done nothing but skyrocket since 2020 and seems to have a massive amount of momentum right now. If you go back a little further - it almost hit 20k in December 2017 and YTD later it was just over 3k. 

I suppose the difference now is that institutions are essentially backstopping the value it seems like, with their insane influx into btc

[bernorange 8363]

Just now, bluto said:

Just based off his bio, he’s a hardcore goldbug so there’s that angle

I know who he is.  I understand his POV.  I'm wondering what he's is referencing, because while he might be casting his opinion on an issue, he wouldn't mention it if there weren't an underlying issue.  I tried searching a bit for "bitcoin tether" and got a lot of FUD but little real information.

[ztejas 43528]

Just now, bluto said:

I suppose the difference now is that institutions are essentially backstopping the value it seems like, with their insane influx into btc

There are a lot of differences and the landscape has no doubt changed much in that span. One of the differences being it was 18k then and 60k now 😁

I guess my point is that obviously when it crashed in 2018 it was correcting for a lot of hype and speculation. Are we not seeing a lot of hype and speculation again now? 

I don't think there's any way it hits 3k again - but it's certainly not out of the realm of possibility for it to go below 40 if we're using the "two decade" rule. In the short term I think I absolutely agree with your assessment - just wanted to play devil's advocate a bit as that perspective can be grounding.

[4HE 156]

Anyone have any BAT in their portfolio? I bought a small chunk about a month ago around 0.40.  It is blowing up today. I need to look and see what the reason behind the spike is. 

[GRHorn 105]

3 hours ago, bernorange said:

I know who he is.  I understand his POV.  I'm wondering what he's is referencing, because while he might be casting his opinion on an issue, he wouldn't mention it if there weren't an underlying issue.  I tried searching a bit for "bitcoin tether" and got a lot of FUD but little real information.

A lot of skeptics pinned their hopes on the tether case bringing down Bitcoin. It was much ado about nothing. They settled last month. Admitted no wrongdoing. Agreed to two years of audits going forward. 
https://www.coindesk.com/ny-ags-850m-probe-of-bitfinex-tether-ends-in-an-18-5m-settlement

Edit: just finished the piece. 
 

I’ve liked Rickards, but seems to be falling into the trap that a lot of boomer gold bugs do. Their misinformed takes are at their core fueled by a concern that Bitcoin will take market share from gold over time. And they should be scared because some degree of that is assured and probably already happening.
 

They’ve been waiting for years for inflation to take off and increasing distrust in the monetary system to provide their time in the sun. That time is coming, but they’re about to be cucked by Bitcoin and it’s very upsetting. Just look at Peter Schiff. 

Edited March 17, 2021 by GRHorn

[GRHorn 105]

4 hours ago, LABEVO said:

 

 

[bernorange 8363]

The Kraken exchange allows me to sort coins by trading volume.  Tether is always in the top 3 even though it's value barely fluctuates.  Why?

[GRHorn 105]

8 minutes ago, bernorange said:

The Kraken exchange allows me to sort coins by trading volume.  Tether is always in the top 3 even though it's value barely fluctuates.  Why?

You mean the fact that it’s $1? It’s a stablecoin.

[bernorange 8363]

No, I'm asking why it's trading volume is so high when it offers zero investment value.

[GRHorn 105]

Getting closer @ChiTownDoc

 

[GRHorn 105]

7 minutes ago, bernorange said:

No, I'm asking why it's trading volume is so high when it offers zero investment value.

Because it’s the most widely used USD stablecoin. 

Let’s say you’re a trader and you own Polkadot. You decide you want to sell. On the biggest exchanges there’s usually three options for the bigger coins. You can sell polkadot for BTC, Eth, or a stablecoin. If traders want to hold dollar equivalents between trades then they will sell the coins for Usdt (or usdc in the us).

By the same token if you hold Btc or Eth and you want to exit into dollars the easiest way initially on a lot of global exchanges is to sell for something like Usdt. 

[Dbeasy 15085]

Anyone see the hack of Roll, the social token company? Took all the earnings of their creators, $5.7m of it

[bernorange 8363]

So, it's the /mirrors/ transaction fees.

[ChiTownDoc 21154]

2 hours ago, GRHorn said:

Getting closer @ChiTownDoc

 

Tons of momentum.  Love it.  For some reason I still see a sub 30k crash but only for a short time then off to 100k.  But if/when that happens I'll lay a lot more into it. 

[Acropora 856]

7 hours ago, 4HE said:

Anyone have any BAT in their portfolio? I bought a small chunk about a month ago around 0.40.  It is blowing up today. I need to look and see what the reason behind the spike is. 

I'm curious too. I've had it since 2017 but the recent surge has been nice.   It's a coin that I've been surprised hasn't done better

[Nice Guy Eddie 13522]

10 hours ago, 4HE said:

Anyone have any BAT in their portfolio? I bought a small chunk about a month ago around 0.40.  It is blowing up today. I need to look and see what the reason behind the spike is. 

 

2 hours ago, Acropora said:

I'm curious too. I've had it since 2017 but the recent surge has been nice.   It's a coin that I've been surprised hasn't done better

Grayscale announced a new fund for Bat along with 4 other coins.

https://www.coindesk.com/grayscale-offers-new-trusts-to-invest-in-five-more-cryptos-including-filecoin-chainlink

BAT is one of those coins I bought 3-4 years ago, and I have to recall where it is from time to time.

[Acropora 856]

Thanks, that's fantastic.  I've got most of those other coins as well.  Bat before ada or dot is surprising, not that I'm complaining. 

[Shaggy3.0 1695]

16 hours ago, GRHorn said:

They’ve been waiting for years for inflation to take off and increasing distrust in the monetary system to provide their time in the sun. That time is coming, but they’re about to be cucked by Bitcoin and it’s very upsetting. Just look at Peter Schiff. 

Stacking gold and silver since 2006.  Should I not have done that? ha

I like Schiff.  He's old-school.  Smart cats own metals and crypto.  Both will save us from fiat.

 

[ajax 2620]

At this rate BTC is going to hit 70k before ETH hits 2K again.

[BearSchlong 8110]

Cardano (ADA) started trading on Coinbase Pro. Anybody here holding, or have thoughts?

I'm about to buy a small stake as I think greater accessibility bodes well.

Sent from my SM-G965U using Tapatalk

[bernorange 8363]

I got some on a while back on the Kraken platform at around $1.10.  It's been bouncing between $1 and $1.40 ever since.  GH keeps saying serious people don't like it, but I wonder how much of that is driven by disdain over the developer as a person and not really anything to do with the investment case observed objectively.  

When my son got the crypto bug, I encouraged him to dig deeper with his research and he did.  I don't know what or where he was reading but after a few weeks he became like Morpheus believing ADA is the one (and headed to $2 before end of year).

I don't have any real opinion on it myself.  It's all magic internet numbers to me.

[BearSchlong 8110]

Sorry, what's GH?

I've spent the afternoon after killing myself in the gym reading about ETH and ADA, both schools are convinced they are superior.  Meanwhile watching ADA trade with more volume than ETH at 1/5 the market cap but down 8%.

Meanwhile, NU is up 18% today.

 

[Nice Guy Eddie 13522]

someone convinced me to buy ADA at $.08 and it even went lower after I bought it. Sold my original investment total around $1 so the remaining is all gravy now. Wish I could say that I was smart about the purchase but actually just followed advice from some guy on YouTube.

ADA and polka dot both are trying to replace Eth. Polka dot is much newer but they surpassed ADA in terms of releasing a finished product. But who knows who will win. I think trying all 3 is a good hedge. 
 

vechain and it’s sister token, vtho, are skyrocketing.

Edited March 20, 2021 by Nice Guy Eddie

[bernorange 8363]

32 minutes ago, BearSchlong said:

Sorry, what's GH?

I meant GRHorn.  Fumble fingered it on my phone.

 

[BearSchlong 8110]

duplicate

Edited March 21, 2021 by BearSchlong

[BearSchlong 8110]

27 minutes ago, bernorange said:

I meant GRHorn.  Fumble fingered it on my phone.

 

That's what I thought you meant.

Been researching crypto trading bots and AI.  Anyone use them?  Like sitting on the beach making 10%?

[Assman 1830]

I'm a crypto noob and signed up on Coinbase Pro.  When trying to make a purchase, it asks for all my bank account info to include online password and PIN.  I'm assuming this is legit and completely normal these days?  Have there been any leaks of personal info through CBP or their 3rd party company Plaid that links your bank account?  Is there an easier, more secure way to add funds to a CBP account?

[bernorange 8363]

17 minutes ago, Assman said:

I'm a crypto noob and signed up on Coinbase Pro.  When trying to make a purchase, it asks for all my bank account info to include online password and PIN.  I'm assuming this is legit and completely normal these days?  Have there been any leaks of personal info through CBP or their 3rd party company Plaid that links your bank account?  Is there an easier, more secure way to add funds to a CBP account?

They should offer you two methods for connecting to your bank account.  Use the other one (verifying the amounts of two test deposits less than $0.10 each).  I would never give anyone the login info to access my bank portal directly.

[SquishMitten 10425]

Yeah. Been forever since I registered, but I’d go with the two deposit method. I’d imagine the password method is pretty damn safe by now, but no security is perfect. No reason to risk it.

On another note, I don’t even remember my research into ADA, but I bought a bunch of it several years ago. It’s been in my shit-coin folder for a long time. If everything else in that folder does the same thing, I’ll be buying a boat

[Assman 1830]

It doesn't look like the 2 deposit method is an option anymore.  At least I can't find it.

Edit:  Apparently you have to trick fuck the system to do the 2 deposit method now.  When it asks for your bank name, type in something that doesn't exist (ex: 1st Derka Bank).  If it can't find it, it'll give you the option to manually add your account info.  Then they'll send you the 2 deposits. 

Edited March 24, 2021 by Assman

[Nice Guy Eddie 13522]

It’s relatively common now that you have to register your bank account with whatever service. I understand why people are hesitant to put their login info onto another site. If you have that fear, open up a checking or savings account with no minimums, and register that account. Then fund that “middle man” account from your actual accounts when needed.

[GRHorn 105]

Very interesting development. Participating in the network is a bigger step than even Saylor has done. This could lead to a lot of different possibilities eventually. Extremely bullish for lightning network. Lightning node in every Tesla? Streaming micropayments? This is off in the future, but could be huge. 

[Shaggy3.0 1695]

Elon gets it.

 

[Nice Guy Eddie 13522]

On 3/24/2021 at 8:53 AM, GRHorn said:

Very interesting development. Participating in the network is a bigger step than even Saylor has done. This could lead to a lot of different possibilities eventually. Extremely bullish for lightning network. Lightning node in every Tesla? Streaming micropayments? This is off in the future, but could be huge. 

Is Elon using the word Tesla to mean the car or the company here? While it would be cool for the car owner to make some excess revenue by having the car run a node but do you want to use your battery power for that? Maybe a node could be operating while the car is charging overnight once the battery is 100% full and will remain so, but not while I'm driving down the freeway.

Interesting how some previous bitcoin skeptics (e.g. Dimon, Elon) have come around somewhat in their views of bitcoin. Maybe they've finally realized that the use cases are not just the bitcoin maximalists waiting (praying) for the end of fiat currency. 

 

[GRHorn 105]

6 minutes ago, Nice Guy Eddie said:

Is Elon using the word Tesla to mean the car or the company here? While it would be cool for the car owner to make some excess revenue by having the car run a node but do you want to use your battery power for that? Maybe a node could be operating while the car is charging overnight once the battery is 100% full and will remain so, but not while I'm driving down the freeway.

Interesting how some previous bitcoin skeptics (e.g. Dimon, Elon) have come around somewhat in their views of bitcoin. Maybe they've finally realized that the use cases are not just the bitcoin maximalists waiting (praying) for the end of fiat currency. 

 

Oh I think he means the company. My guess is that as the company tinkers with nodes and open source payments  (I’m guessing they’re using BTC pay server) they’ll consider other bigger implementations of the network involving the car. 
 

A node doesn’t use much energy. I run one just for fun. It’s just a raspberry pi 4 running the program. 

[Shaggy3.0 1695]

On a nice little ride with FIL today.  Forgot I had 25 FIL coins.  I can buy a keg this weekend.

 

[GRHorn 105]

 

[bernorange 8363]

Supposedly Paypal had launched some facility for Paypal users to buy bitcoin a few months ago, but it doesn't seem like they opened that facility up to all PayPal users.  I couldn't figure out how to access it anyway.

[Nice Guy Eddie 13522]

43 minutes ago, bernorange said:

Supposedly Paypal had launched some facility for Paypal users to buy bitcoin a few months ago, but it doesn't seem like they opened that facility up to all PayPal users.  I couldn't figure out how to access it anyway.

you don't see a method to buy crypto with their mobile app? on the menu across the bottom of their app.