Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

[nycHorn 3037]

I’m a BTC, ETH and Matic holder only. But back in February I was interested in DeFi and created a paper portfolio of a few I was watching and reading about. Each one started with $1000 investment on February 6. This is where they are currently.

[gyroprotagonist 2594]

 

 

[Sawbonz 27578]

On 5/9/2022 at 4:11 PM, Immaculate Vibes said:

 

What should the Fed do?

[Immaculate Vibes 114]

9 minutes ago, Sawbonz said:

What should the Fed do?

WRT this? Nothing.
 

 These people were fucking around with an algorithmic stablecoin. Those have repeatedly blown up. The last one I think was Titan. Mark Cuban got caught in that one. These are scams dressed up as “financial innovation”. Plenty of people in the space were warning about this. 
 

I’d love to think that this will cause people to rethink carrying out and participating in these scams. They just invite scrutiny and eventually excessive regulation, but scammers gonna scam. 

[gyroprotagonist 2594]

biggest win was buying tether (USDT) when people were panic selling below $1.  people were literally selling a $1 for 80-90 cents when it appeared that it was 'depegging' 

i remember being mad a few weeks ago that my last transaction on Luna was getting a SL hit at 92.50 to close out my entire position, because of course it wicked straight up right after that.  cannot imagine riding that down all the way.  everyone has their own strategies, but holding something just for the sake of holding and never willing to sell or put in a SL seems like a bad play in crypto.  

[gyroprotagonist 2594]

damn.  so this dude bet the Terraform Labs CEO (creator of LUNA) $10MM that the price of Luna would be lower than $88 by March 2023.  After the crash, he just bought 120K shares of LUNA for < $1 to cover the bet should LUNA recover by then.  fucking lol. 

https://www.theblockcrypto.com/post/145739/trader-doubles-down-on-10-million-bet-against-do-kwon-by-shorting-luna

the bet is supposedly escrowed.   

 

[woohorn 1131]

Couple of cute gurlz at least. "... Better hope ur gettin laid in web3..."

[Trey3216 15347]

2 hours ago, woohorn said:

Couple of cute gurlz at least. "... Better hope ur gettin laid in web3..."
 

Jesus.    Bring on the meteor 

[Blotto 23559]

11 hours ago, Trey3216 said:

Jesus.    Bring on the meteor 

It's time.

[nycHorn 3037]

Couple of cute gurlz at least. "... Better hope ur gettin laid in web3..."

[Immaculate Vibes 114]

Good thread 

 

[closetohumping 17450]

[Fudge Nuggets 19206]

6 hours ago, Immaculate Vibes said:

Good thread 

 

It went to a penny in 2011 because there was no market for it.  It was probably $5 before but I can't be fucked to find a quote from 2011 because I don't invest in scams.

[Blotto 23559]

On 5/14/2022 at 6:14 PM, Immaculate Vibes said:

Good thread 

Why is it a good thread? What are we supposed to learn from his observations? Did we not already know that crypto goes up and down? Furthermore, I find it misleading. 

If I didnt know better, by looking at his chart I would assume that Crypto was up 20X over the last year. So apparently he's cherry picking dates that dont reflect the most recent fall. I guess he can choose any date range he wants to make whatever confusing points he wants, but knowing that BTC is down about 35% on both a 1 year and YTD basis, makes me think this guy is full of shit. Is he just not going to acknowledge the recent carnage? 

 

 

[Immaculate Vibes 114]

19 hours ago, Fudge Nuggets said:

It went to a penny in 2011 because there was no market for it.  It was probably $5 before but I can't be fucked to find a quote from 2011 because I don't invest in scams.

Cool cool. Thanks for stopping by. You should check out all the enthusiast threads and tell them how they’re stupid. It seems like a really good use of time. 
 

Maybe go by the watch fanatic thread and talk about how a watch is pointless because phones have the time now? Or check out the wine thread and explain that you can’t tell the difference so people are wasting their money?

 

9 minutes ago, Blotto said:

Why is it a good thread? What are we supposed to learn from his observations? Did we not already know that crypto goes up and down? Furthermore, I find it misleading. 

If I didnt know better, by looking at his chart I would assume that Crypto was up 20X over the last year. So apparently he's cherry picking dates that dont reflect the most recent fall. I guess he can choose any date range he wants to make whatever confusing points he wants, but knowing that BTC is down about 35% on both a 1 year and YTD basis, makes me think this guy is full of shit. Is he just not going to acknowledge the recent carnage? 

 

 

Jesus. 
 

The point is that multiple times there have been even bigger dumps where people claim the whole space is dead and it comes back stronger. It was pretty clear. You’re just being a douche. 

[Blotto 23559]

8 minutes ago, Immaculate Vibes said:

The point is that multiple times there have been even bigger dumps where people claim the whole space is dead and it comes back stronger. It was pretty clear. You’re just being a douche. 

I question anyone  that implies BTC is 20X higher now than it was a year ago. Using $30K as the price of bitcoin, a ~20X gain between years 9 and 10 gives us $1500 as the price one year ago. when was BTC last at $1500?  Stop posting bullshit and I'll stop calling you out on it. 

Edit - and I acknowledged in my original post, we all know BTC goes up and down. I'm just trying to figure out what else I was supposed to learn? You're the one that posted it with the commentary "good thread." 

Edited May 16, 2022 by Blotto

[Immaculate Vibes 114]

1 hour ago, Blotto said:

I question anyone  that implies BTC is 20X higher now than it was a year ago. Using $30K as the price of bitcoin, a ~20X gain between years 9 and 10 gives us $1500 as the price one year ago. when was BTC last at $1500?  Stop posting bullshit and I'll stop calling you out on it. 

Edit - and I acknowledged in my original post, we all know BTC goes up and down. I'm just trying to figure out what else I was supposed to learn? You're the one that posted it with the commentary "good thread." 

How did he imply it was 20x over the last year? You shared the chart that he posted where it literally said Bitcoin was down 41% for the last year. 

[Blotto 23559]

5 minutes ago, Immaculate Vibes said:

How did he imply it was 20x over the last year? You shared the chart that he posted where it literally said Bitcoin was down 41% for the last year. 

I dumbassed that one. Was reading the opposite direction.

 

[Immaculate Vibes 114]

Luna sold almost all its BTC. Good news. 
 

 

[Immaculate Vibes 114]

🤔 

[gyroprotagonist 2594]

On 5/16/2022 at 10:41 AM, Immaculate Vibes said:

Luna sold almost all its BTC. Good news. 
 

 

did they actually sell it on an exchange or give it away to some key holders to try and make them less pissed/whole? 

[Immaculate Vibes 114]

 

[gyroprotagonist 2594]

curious on what people in this threads 'strategies' are.

- buy and hold.  dca on monthly/weekly buys.  mostly BTC and top alts

- not really timing the market, but having no issues getting 100% in fiat and set buying and selling targets with goal to stack fiat

- buy/sell memecoins based on tweets

i fall into the middle category with the goal to stack fiat at the end of the day.  i really only keep ETH on hand and that's to degen around in NFTs.  After any decent sale i will normally convert most of the ETH to USDC or something.

[Captainant 27680]

pretty interesting piece on Do Kwan and the whole Terra/Luna pumpndump

Still hilarious how he was guaranteeing a 20% rate of return for simply letting him hold their money - but it totally wasn't a ponzi.

It is interesting how the instigating action that destabilized the coin was from but a few MASSIVE wallets that were a large enough percentage to move the whole market, and make people blink to start a run on the bank

[Immaculate Vibes 114]

On 5/19/2022 at 8:59 AM, gyroprotagonist said:

curious on what people in this threads 'strategies' are.

- buy and hold.  dca on monthly/weekly buys.  mostly BTC and top alts

- not really timing the market, but having no issues getting 100% in fiat and set buying and selling targets with goal to stack fiat

- buy/sell memecoins based on tweets

i fall into the middle category with the goal to stack fiat at the end of the day.  i really only keep ETH on hand and that's to degen around in NFTs.  After any decent sale i will normally convert most of the ETH to USDC or something.

Buy and hold. DCA.

Now is the time to be doing it. This thread dies, people stop chatting about it. I sense a lot of apathy. In a couple years you'll wish you had been buying now, kind of like 2018-2019.

 

23 hours ago, Captainant said:

pretty interesting piece on Do Kwan and the whole Terra/Luna pumpndump

Still hilarious how he was guaranteeing a 20% rate of return for simply letting him hold their money - but it totally wasn't a ponzi.

It is interesting how the instigating action that destabilized the coin was from but a few MASSIVE wallets that were a large enough percentage to move the whole market, and make people blink to start a run on the bank

Totally predictable scam. Promoted by some very prominent "legitimate" crypto investors like Novogratz and Raoul Pal. These people are bad actors.

[Immaculate Vibes 114]

Blue and green are by far the most common. 

[Immaculate Vibes 114]

This is greatness. 
 

Edited May 26, 2022 by Immaculate Vibes

[gyroprotagonist 2594]

couldn't resist and bought a little eth this morning ~$1800 and played a tiny long position just for some fun. closed the long out at 1880 for a whopping $40 gain.  Still really just learning how to do the basic shorts and longs and how using leverage affects your liquidation points.  proud to say that on 3 futures trades, i am up 20%.  sad to say that 20% = $100.  I don't have much in my Kucoin account, lol.

It seems really easy to liquidate the idiots that use double digit leverage on futures and that's why the whales and cexs collude to do so.  

will hold the eth for a while.  never know when i'll need to buy another jpeg

[Blotto 23559]

Saw this article on NFT's which made me laugh...

Quote

Plummeting cryptocurrency prices are wreaking havoc on NFTs. On Monday, as Bitcoin and Ethereum flirted with 10 percent drops, the sale of NFTs fell too.

The so-called blue-chip NFTs were not saved from the carnage.

One person who sold off was the owner of Bored Ape #4688, who bought it just two weeks ago for $418,656. He sold it Monday for $240,596, a loss of $178,060.

It was just 10 days ago that the floor price — the cheapest price for a Bored Ape — was $419,273. By 5 p.m. ET on Monday, the floor was down to $198,230, a drop of nearly 53 percent.

One Cryptopunk sold for $106,111, the lowest price for a Cryptopunk in nine months.

There’s also less interest in buying NFTs. On Sunday, there were fewer than 40,000 unique buyers of NFTs, according to tracking site Cryptoslam. It was only the fourth time since Aug. 1, 2021 that the unique buyer number went under 40,000.

Otherdeed, the virtual land NFT from Yuga Labs, the owners of Bored Apes and Cryptopunks, sold $780 million worth in the first five days of the month. Since then, things have cooled, having seen $46 million since.

The only project that seemed to be immune from the decline were Doodles, which recently hired a Billboard executive to be its CEO. Odds are Doodles owners are willing to hold out thanks to the company announcing that anyone holding a Doodle on May 12 will receive a Dooplicator, “a functional piece of Doodle machinery with extraordinary powers.”

$780 million dollars in NFT sales, basically completely unregulated. Years from now, this will be a case study in how to run a con. They basically fleeced 3/4 of a billion dollars in a week, for cartoon apes, lulz. 

Edited May 31, 2022 by Blotto

[NoName 16354]

17 minutes ago, Blotto said:

Saw this article on NFT's which made me laugh...

$780 million dollars in NFT sales, basically completely unregulated. Years from now, this will be a case study in how to run a con. They basically fleeced 3/4 of a billion dollars in a week, for cartoon apes, lulz. 

uh, ok.

[gyroprotagonist 2594]

2 hours ago, Blotto said:

Saw this article on NFT's which made me laugh...

$780 million dollars in NFT sales, basically completely unregulated. Years from now, this will be a case study in how to run a con. They basically fleeced 3/4 of a billion dollars in a week, for cartoon apes, lulz. 

not sure what they (or you) are talking about.  Otherdeeds sold out on the first day. if the article is trying to say that trading of these NFTs is down from when it minted, yeah, that is completely normal.  There were ~100K available.  If the article is talking about secondary sales volume for that $780M, then Yuga does not get that amount.  They get 5% of all sales on the 2ndary market.

The mint was in APE coin.  each one was 305 coins.  At the time of mint, APE was worth ~$20; So $335M at mint.  Supposedly, that coin was going to be parked for a year and not in circulation.  That amount is now worth 1/3 of the $335M as APE has tanked hard after the mint (along with most other crypto).

- 55K were sold to the public, the rest were given free to holders of Bored Apes.  All the sales after the mint are from people trading with each other.  Trading is generally fast and furious right after mint then it dies down so it's not surprising that volume is much lower later on.

the overall volume of NFT trading is down substantially from ATHs for sure, as noted in the quoted article.  

I will be the first to tell you that pricing is crazy with NFTs.    NFTs as a whole are down ~40-50% on the big 'blue chip' ones.  But there are MUCH better cons going on in the NFT space vs what Yuga is doing.  They have actually delivered quite a bit of wealth to their holders which is something few projects can claim.

 

[Blotto 23559]

33 minutes ago, gyroprotagonist said:

not sure what they (or you) are talking about.  Otherdeeds sold out on the first day. if the article is trying to say that trading of these NFTs is down from when it minted, yeah, that is completely normal.  There were ~100K available.  If the article is talking about secondary sales volume for that $780M, then Yuga does not get that amount.  They get 5% of all sales on the 2ndary market.

The mint was in APE coin.  each one was 305 coins.  At the time of mint, APE was worth ~$20; So $335M at mint.  Supposedly, that coin was going to be parked for a year and not in circulation.  That amount is now worth 1/3 of the $335M as APE has tanked hard after the mint (along with most other crypto).

you obviously pay attention to the space 100X more than I do.  I just took the article at face value and assumed that they were selling those fucking things for huge amounts. In fact, I would imagine that whoever is behind Yuga made sure they got their beak wet repeatedly throughout the launch. Just the 5% transaction fee is  $40 million dollars in a week. But who received the $335M (in mint coin) at time of mint? I give them credit, its a fantastic confidence game they've built. Goes great until people lose confidence. Just got cash out before the music stops. 

34 minutes ago, gyroprotagonist said:

I will be the first to tell you that pricing is crazy with NFTs.    NFTs as a whole are down ~40-50% on the big 'blue chip' ones.  But there are MUCH better cons going on in the NFT space vs what Yuga is doing.  They have actually delivered quite a bit of wealth to their holders which is something few projects can claim.

 

I don't doubt that either. When 98% of the "industry" is a confidence game, you have to really work at it to be the top of the heap. 

[gyroprotagonist 2594]

16 minutes ago, Blotto said:

you obviously pay attention to the space 100X more than I do.  I just took the article at face value and assumed that they were selling those fucking things for huge amounts. In fact, I would imagine that whoever is behind Yuga made sure they got their beak wet repeatedly throughout the launch. Just the 5% transaction fee is  $40 million dollars in a week. But who received the $335M (in mint coin) at time of mint? I give them credit, its a fantastic confidence game they've built. Goes great until people lose confidence. Just got cash out before the music stops. 

I don't doubt that either. When 98% of the "industry" is a confidence game, you have to really work at it to be the top of the heap. 

so they got the $335M at the time of mint - 55,000 x 305 APE coin.  it's a little different in that the payment was in their own APE coin rather that just ETH.  so people's cost were different depending on when they bough the APE coin and for what price. A bigger cash grab would have been selling in ETH and not promising to lock up all the APE received in the mint.  They also get 5% of sales that happen on trading sites.  They did a similar auction (Mutant Apes) maybe 6 months ago on a 20K NFT project that sold for ~3 ETH mint price (which was about $10K at the time).  Those are worth about 20 ETH now (but only ~$40K since ETH is down).  That netted them ~$100M in an hour (10K were given away to current Bored Ape holder).  good work if you can get it, lol.

I should have said "much better examples of cons..."  My point is that Yuga has the best track record out of just about any NFT out there.  Yes, they extracted a TON of money for themselves along the way, but have not been proven a bad actor and actually have bestowed a hefty ROI for people who held on or bought their NFTs at mint.  My point was that there are tons of NFT projects that are straight cons (or rugs) where the creator tries to sell as many as they can and then just straight up shuts all communication down and bolts often to try it again.

I have been kicking around NFTs for a little over a year, so yeah i track all this fairly closely.  You are correct in that it can be viewed as a game of musical chairs.  sharp traders find a way to mint or buy early and then sell into fomo as the price rises to people clamoring to get in on the project increases.  finding the sweet spot is the trick.  For instance, I bought one of those Mutant Apes at mint for $10K and then sold it 45 mins later for $25K as it sold out in minutes and people were scrambling to buy these on the secondary market.  fast forward a few months and the trading price for those dropped below the mint price but then eventually rose up to $80K as news of the APE coin and Otherdeed launch were announced.

- a lot of the time though, it never recovers from that peak that happens and those who bought at the top are stuck with a loss.  

[Immaculate Vibes 114]

 

[gyroprotagonist 2594]

seems like they are having trouble getting all the validators on board to plan the restart.  SOL NTFs were really booming before this.  But yeah, i don't want to have to restart my blockchain like a bad router every few months.

SOL has super fast and super cheap transactions, but stuff like this is just nuts.

[Immaculate Vibes 114]

 

[Incredulity 11675]

2 hours ago, Immaculate Vibes said:

 

[Immaculate Vibes 114]

 

[Immaculate Vibes 114]

tl;dr

someone claims to have used an exploit to download years worth private telegram messages from various crypto communities and influencers. He alleges all sorts of improprieties from the expected fraud up to sexual assault and assassinations. Sounds extremely far fetched but if it could happen in any space this is it. He lays out his plan for the data releases. 

[NoName 16354]

2 hours ago, Immaculate Vibes said:

tl;dr

someone claims to have used an exploit to download years worth private telegram messages from various crypto communities and influencers. He alleges all sorts of improprieties from the expected fraud up to sexual assault and assassinations. Sounds extremely far fetched but if it could happen in any space this is it. He lays out his plan for the data releases. 

this seems like a LOT

Quote

Over the course of these next few weeks I will be releasing 137.21GB of Telegram group chats and messages

 

[gyroprotagonist 2594]

3 hours ago, Immaculate Vibes said:

tl;dr

someone claims to have used an exploit to download years worth private telegram messages from various crypto communities and influencers. He alleges all sorts of improprieties from the expected fraud up to sexual assault and assassinations. Sounds extremely far fetched but if it could happen in any space this is it. He lays out his plan for the data releases. 

i believe 100% that collusion, fraud, theft etc... are discussed in Discord and Telegram on an hourly basis and then carried out.  not sure i will believe any of this, though.  be interesting to see who this person targets/purports to be frauding people as an 'influencer'.  The murder stuff seems lulz-y.  

[Immaculate Vibes 114]

Jay-Z. Love it 

 

[Immaculate Vibes 114]

 

[Parliament 14261]

To the moon!

[Immaculate Vibes 114]

oof. 
 

a lot of chatter online about the solvency of one of the bigger custody/lending platforms, Celsius. Not very reassuring stuff from their ceo. If anyone here holds coins there I’d get them off asap  

 

this is a bit above my head, but supposedly these lending platforms use leverage to generate yield through defi.

 

Somehow through staking platforms yet another coin is created stEth. That is redeemable for Eth after their merge is complete but it’s a trading at a discount, another “depegging”. Evidently if it widens greatly it could cause big ripple effects through markets.

Here’s a thread explaining it. I don’t understand at least half of it. Not trying to learn either just looking at potential bear market catalysts.

 

tl;dr

We’re in big bear market territory. There’s a lot of negative headlines out there. I’m seeing some apathy, but not utter despair. I still think we leg lower one more time. 
 

Everyone here knows my philosophy. Dca Buying. This is when you accumulate more. Stay safe out there. Hold your own coins. No leverage. 

[UTGrad98 2280]

Crypto has never experienced a true recession before . Covid was a shock to the economy and not what we are seeing now. Should be interesting. 

[Immaculate Vibes 114]

Damn. Carnage. Eth below 2018 ATH. 

[Immaculate Vibes 114]

Maybe it is happening.  
 

Withdrawals paused. Yikes. 

[Nice Guy Eddie 13515]

Blood bath out there. Buying time?

[Blotto 23559]

18 minutes ago, Nice Guy Eddie said:

Blood bath out there. Buying time?

Lulz. Wonder if  that clown CEO at microstrategy will back up all his talk and borrow even more money to buy more BTC. This should be the business opportunity of a lifetime for him. Let's see how many people line up to lend him that money. BTC ~ 21K  triggers some margin calls, and at some point below that you gotta figure the whole company goes tits up. 

Edited June 13, 2022 by Blotto