Crypto lounge thread

BURNΞR

Pelican
I bought one of these:


It's a Yubikey, a hardware version of Google 2FA all of us already use. From my understanding this is the most secure way to interact with exchanges. I've been hearing a lot on Reddit recently about people getting hacked despite using Google 2FA. I'm upgrading to a new phone soon and even transferring the keys via a QR code didn't sit well with me. Basically the hardware proves ownership/identity and can't be compromised even if your PC or phone is riddled with malware and viruses. It costs $20 to $70 USD which is absolutely nothing for most of us that play with big boi money. The only weakness is that if you lose it you will have to email the exchange to KYC yourself to reset your security and it is just one more thing you need to carry around along side with your hardware wallet.
 

zoom

Kingfisher
Gold Member
The only weakness is that if you lose it you will have to email the exchange to KYC yourself to reset your security and it is just one more thing you need to carry around along side with your hardware wallet.

You can have multiple hardware keys. So for example, you can keep one key near your laptop for regular use and you can have a backup key locked up in a safe.
 

Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
Dubai government webinar:

https://vimeo.com/617913759/4bb5d258d1

Government official Ahmed bin Sulayem:

"Crypto is here to stay... Some parts of the world don't want to have anything to do with it. And other parts of the world cannot survive without it... What is most attractive to me is it is a better alternative (in my opinion) to the IMF and World Bank... There is a lot of convicted felons, convicted banks involved in that industry [legacy banking], while crypto is just pure..."

Pretty subversive stuff.

This guy is one of the most senior people in relation to the region's crypto strategy.
 

Mikeyd03

Woodpecker
Participated in an IDO for The HUSL....can be bought on uniswap by swapping ETH.

Basically this is going to be an NFT platform for music. Busta Rhymes is on the team. Love the concept......getting rid of the middleman and bringing artists and audience directly together.

High potential. Think of investing in a musician before they make it big.
 

Cryptosam

Pigeon
I used to think BAT was the coin for me, but when I was beta testing their search engine I pointed out to their devs that the search results heavily favoured ADL and SPLC sites to the point that they show up multiple times before the person you were searching for's own website. I gave a few examples, including Roosh, and they called me a racist and banned me.

I made about 50 percent profit off my BAT since February 2021 and completely sold eveything.

I believe in privacy, and I hate ads and pop ups. I'll keep using Brave browser but maybe I'll switch to Monero as my investment of choice. I also like Ripple but I don't know much about it. Monero and BTC perhaps with some Ripple on the side. How does that sound as a portfolio? Any recommendations or criticisms?

Thanks
 

cosine

Robin
I used to think BAT was the coin for me, but when I was beta testing their search engine I pointed out to their devs that the search results heavily favoured ADL and SPLC sites to the point that they show up multiple times before the person you were searching for's own website. I gave a few examples, including Roosh, and they called me a racist and banned me.

I made about 50 percent profit off my BAT since February 2021 and completely sold eveything.

I believe in privacy, and I hate ads and pop ups. I'll keep using Brave browser but maybe I'll switch to Monero as my investment of choice. I also like Ripple but I don't know much about it. Monero and BTC perhaps with some Ripple on the side. How does that sound as a portfolio? Any recommendations or criticisms?

Thanks
Screen Shot 2021-10-01 at 10.28.43 PM.png
This is my allocation. The GBTC and ETHE amounts take it over 100%, the values are just in reference to actual holdings.

I'm in my early 30's, so I figure that holding GBTC and ETHE in retirement accounts is great -- if it 100x's, then I'm set. If it goes to 0, then I have decades to catch up.

I follow Raoul Pal a lot. My strategy is:
1. Hold a good amount of bitcoin
2. If I hear about network effects, especially hordes of developers joining a system, then it's worth at least a paltry investment. That's the purpose behind ETH, ADA, SOL, and LUNA. ETH still seems like the most likely big player in that space.
3. I put a paltry investment into anything else in the coinmarketcap top 15 or so that I even mildly understand.
4. Doge is obviously wildly speculative to say the least.
 

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cosine

Robin
Not sure where to post this. This is an excellent essay on the coming implementation of Global CBCD's.
Cryptocurrencies, blockchain technology really just seems like a way of "featurizing" money systems.

Bitcoin is elegant in that it's a secure, globally-repeatable system that's decentralized and very hard to take over. Really seems like the libertarian's wet dream.

Of course central banks are going to install authoritarian systems into their digital currencies; they all want control, China most of all.
 

BURNΞR

Pelican
I used to think BAT was the coin for me, but when I was beta testing their search engine I pointed out to their devs that the search results heavily favoured ADL and SPLC sites to the point that they show up multiple times before the person you were searching for's own website. I gave a few examples, including Roosh, and they called me a racist and banned me.

I made about 50 percent profit off my BAT since February 2021 and completely sold eveything.

I believe in privacy, and I hate ads and pop ups. I'll keep using Brave browser but maybe I'll switch to Monero as my investment of choice. I also like Ripple but I don't know much about it. Monero and BTC perhaps with some Ripple on the side. How does that sound as a portfolio? Any recommendations or criticisms?

Thanks

BAT was a good one when it first ICO'd for 4 cents. Holding it now can only get you a 2-3x return, you can get similar returns just holding ETH without the risk.

I'm having a difficult time explaining why Monero has underperformed the market. The perception from normies is that it won't be allowed to succeed so people don't want to invest in it. There's no staking rewards either so you are just losing your mind holding what seems like stable coin. The scarcity of this coin is similar to BTC yet this thing can't even break $1000 after 7 years on exchanges. I'm starting to think there could a supply exploit someone is abusing. The only reason I don't dump it is because I fear of missing out if it shoots up.

Ripple/XRP is a bad hold in my opinion. Success hinges on a favorable court case outcome for Ripple with the SEC and this has to happen before the bull run ends. I would put this in the high risk medium to high reward category. The coin itself has bad fundamentals - old tech, doesn't have smart contracts or defi, can't get rewards. Ripple company owns over 55% of the supply and they just dump the coins on the market as they see fit. Developers don't want to work on it. They say XRP is decentralised but I'm sure the US government could shut every node down within days and Ripple would cooperate fully. Literally people are buying this because they believe it is somehow better tech than BTC because of it's speed of transaction or have some deluded belief that banks will adopt XRP (this narrative was popular in 2017 but it's completely dead now).

If you want a safe blue chip to replace XRP or BAT then I'd go with ADA or SOL. XMR/Monero might pump but historically it is a laggard that goes up after everything else does. I recommended XMR to friends and they are whining about it. I am also wondering if it will ever pump.
 
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BURNΞR

Pelican
View attachment 33965
This is my allocation. The GBTC and ETHE amounts take it over 100%, the values are just in reference to actual holdings.

I'm in my early 30's, so I figure that holding GBTC and ETHE in retirement accounts is great -- if it 100x's, then I'm set. If it goes to 0, then I have decades to catch up.

I follow Raoul Pal a lot. My strategy is:
1. Hold a good amount of bitcoin
2. If I hear about network effects, especially hordes of developers joining a system, then it's worth at least a paltry investment. That's the purpose behind ETH, ADA, SOL, and LUNA. ETH still seems like the most likely big player in that space.
3. I put a paltry investment into anything else in the coinmarketcap top 15 or so that I even mildly understand.
4. Doge is obviously wildly speculative to say the least.

Only ones I didn't like on your portfolio were LUNA and NANO. I don't know much about LUNA (chart looks ok) but I think NANO is a dead coin with no chance.
 

cosine

Robin
Only ones I didn't like on your portfolio were LUNA and NANO. I don't know much about LUNA (chart looks ok) but I think NANO is a dead coin with no chance.
LUNA is part of the Terra blockchain, which popped up on the Ark invest podcast. It still seems very complicated, I struggle to understand it.

What makes you say NANO is dead? Just curious -- I don't know that much about NANO either. I consider both of these essentially gambling.

Also, what do you think about yield farming?
 

Cryptosam

Pigeon
BAT was a good one when it first ICO'd for 4 cents. Holding it now can only get you a 2-3x return, you can get similar returns just holding ETH without the risk.

I'm having a difficult time explaining why Monero has underperformed the market. The perception from normies is that it won't be allowed to succeed so people don't want to invest in it. There's no staking rewards either so you are just losing your mind holding what seems like stable coin. The scarcity of this coin is similar to BTC yet this thing can't even break $1000 after 7 years on exchanges. I'm starting to think there could a supply exploit someone is abusing. The only reason I don't dump it is because I fear of missing out if it shoots up.

Ripple/XRP is a bad hold in my opinion. Success hinges on a favorable court case outcome for Ripple with the SEC and this has to happen before the bull run ends. I would put this in the high risk medium to high reward category. The coin itself has bad fundamentals - old tech, doesn't have smart contracts or defi, can't get rewards. Ripple company owns over 55% of the supply and they just dump the coins on the market as they see fit. Developers don't want to work on it. They say XRP is decentralised but I'm sure the US government could shut every node down within days and Ripple would cooperate fully. Literally people are buying this because they believe it is somehow better tech than BTC because of it's speed of transaction or have some deluded belief that banks will adopt XRP (this narrative was popular in 2017 but it's completely dead now).

If you want a safe blue chip to replace XRP or BAT then I'd go with ADA or SOL. XMR/Monero might pump but historically it is a laggard that goes up after everything else does. I recommended XMR to friends and they are whining about it. I am also wondering if it will ever pump.
Thanks a lot for this great reply. I'll give ADA another shot. I'm very skeptical looking at the market right now. I feel like it's about to tumble down at any moment. I may invest a little bit and just feel it out. Begin the DCA process.

Ive heard that since monero is used as an actual currency that it's supposed to stay relatively stable and it's manipulated by whales so that it does. Whether that's true not I couldn't even begun to say
 

Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
LUNA is part of the Terra blockchain, which popped up on the Ark invest podcast. It still seems very complicated, I struggle to understand it.

What makes you say NANO is dead? Just curious -- I don't know that much about NANO either. I consider both of these essentially gambling.

Also, what do you think about yield farming?

Nano (formerly Rai Blocks) was spoken about a lot here in 2017-18. No more. It's rarely mentioned anywhere, which is why it is #130 and close to 10% of its ATH.

Coins that are just intended as currency have not done well this year. This appears to be what is in the top 100:

1 - BTC
7 - XRP
10 - DOGE
16 - LTC
19 - BCH
35 - XEC
36 - XMR
57 - BSV
70 - DASH
80 - NEM
85 - ZEC
100 - BTG

Most of those have fallen in market cap position (#) over the last 18 months.

Here from the top 20, four years ago:

1 - BTC
3 - XRP (7)
4 - BCH (19)
5 - LTC (16)
6 - DASH (70)
7 - NEM (80)
10 - XMR (36)
16 - ZEC (85)

All but BTC are seriously under-performing the market.

The race for a currency is over for now. Bitcoin on the Lightning Network has far more developed than anything else. The likes of LTC are hanging on based on their adoption by entities (like ATMs) going back years. Adoption that is now not warranted.

I think XMR could be a good hedge to hold in the event that there are bans and heavy regulation. It may have a better use case in a CDBC and high-surveillance world.

2017 was a battle for currency dominance. Both ETH and BCH had a good run then. Since ETH has spawned the smart contracts race. 2021 is the race of the smart contracts.

I think by 2025 we will see the same happen to smart contracts platforms as we have seen with currencies. Most will fall away and we will be left with a few winner.

2025 will be the race of building blocks for decentralised applications.
 
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Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
Big squeezes coming in on 3D and 1W into Oct:

c546monshake15m6kc40-kraken-btcusd.png


c546n0ttqng2elqh1jo0-kraken-btcusd.png

Thanks a lot for this great reply. I'll give ADA another shot. I'm very skeptical looking at the market right now. I feel like it's about to tumble down at any moment. I may invest a little bit and just feel it out. Begin the DCA process.

The 3D and 1W looks like it might be squeezing.

squeeze.png

However, I think it could continue sideways for about another month; at which point I think there will be a very big movement up.

BTC seems very strong to me ATM with the Lightning Network.
 

cosine

Robin
Coins that are just intended as currency have not done well this year.
That's a great point. It feels to me like Bitcoin is as entrenched as Google was in say 2004, but smart contracts are like internet platforms in 1997. There's a lot that can be done and no one really knows who will come out on top between ETH, ADA, SOL, others. DOT or LUNA or something else.

That fact kind of makes me think that it could be easier/simpler to just revert back to amassing more and more BTC.
 

Cryptosam

Pigeon
Nano (formerly Rai Blocks) was spoken about a lot here in 2017-18. No more. It's rarely mentioned anywhere, which is why it is #130 and close to 10% of its ATH.

Coins that are just intended as currency have not done well this year. This appears to be what is in the top 100:

1 - BTC
7 - XRP
10 - DOGE
16 - LTC
19 - BCH
35 - XEC
36 - XMR
57 - BSV
70 - DASH
80 - NEM
85 - ZEC
100 - BTG

Most of those have fallen in market cap position (#) over the last 18 months.

Here from the top 20, four years ago:

1 - BTC
3 - XRP (7)
4 - BCH (19)
5 - LTC (16)
6 - DASH (70)
7 - NEM (80)
10 - XMR (36)
16 - ZEC (85)

All but BTC are seriously under-performing the market.

The race for a currency is over for now. Bitcoin on the Lightning Network has far more developed than anything else. The likes of LTC are hanging on based on their adoption by entities (like ATMs) going back years. Adoption that is now not warranted.

I think XMR could be a good hedge to hold in the event that there are bans and heavy regulation. It may have a better use case in a CDBC and high-surveillance world.

2017 was a battle for currency dominance. Both ETH and BCH had a good run then. Since ETH has spawned the smart contracts race. 2021 is the race of the smart contracts.

I think by 2025 we will see the same happen to smart contracts platforms as we have seen with currencies. Most will fall away and we will be left with a few winner.

2025 will be the race of building blocks for decentralised applications.
Thanks for the in depth analysis. You make a good case about the currencies. I like XMR because ideologically I support it, where I don't know much about other coins to strongly believe in them which makes me shake more when the market dips.

Unisex kraken and there is such a limited selection there. Solana is there but not Luna.
 

BURNΞR

Pelican
LUNA is part of the Terra blockchain, which popped up on the Ark invest podcast. It still seems very complicated, I struggle to understand it.

What makes you say NANO is dead? Just curious -- I don't know that much about NANO either. I consider both of these essentially gambling.

Also, what do you think about yield farming?

Yield farming is basically lending your coins/tokens out for a return. I use this word interchangeably with staking because although the process is different the result are similar. For example you can stake ADA and in doing so it processes transactions on the network yielding you 5% ADA annually. With SUSHI or other platforms you can lend out your defi tokens to a pool and get rewarded with a yield, usually higher than 5% annual return. This is something that didn't exist 4 years ago. You could only sell your BTC/ETH and profit off the change in price. Very few places let you lend your coins for a return and it was on a shady centralized exchange. Now it's moved to a smart contract or a more decentralized platform.

It was popular for a brief euphoric time in 2017. The major selling point was there was no fees and fast transaction speed. A ton of retail jumped in. These are meaningless and credit cards already do these functions. It doesnt have smart contracts, no defi yields. I guess it could still pump in the coming altcoin pump when BTC hits 120k. It's risky though because I see this going back to 0 after the bull run ends and it's not in the top 100 so there's a chance it gets ignored. High risk, high reward. Like Coja said, currency coins got left behind. I assumed some of them would keep their ranking but they all got washed away. Holding currency coins is painful if it doesnt pump in a bull market. Defi/staking coins are popular because you get rewards along the way and this can be compounded or spent on living expenses
 
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I used to be a monero bull, but with lightning network and other changes, Bitcoin will become more private. If it's only use is money, Bitcoin will be the only money. Especially when government power is neutered by lack of a money printer. It definitely WON'T be some centralized "coin" like ripple...
Defi chains that can run programs like SOL will have bigger returns than BTC but much higher risk as well. On a 10 year time frame there is almost no chance that BTC is lower than it is now, but many of even the most promising projects now, SOL ADA, ETH, could be 0, or have less appreciation than BTC.
 

Thoughtcrime

Sparrow
I used to be a monero bull, but with lightning network and other changes, Bitcoin will become more private. If it's only use is money, Bitcoin will be the only money. Especially when government power is neutered by lack of a money printer. It definitely WON'T be some centralized "coin" like ripple...
Defi chains that can run programs like SOL will have bigger returns than BTC but much higher risk as well. On a 10 year time frame there is almost no chance that BTC is lower than it is now, but many of even the most promising projects now, SOL ADA, ETH, could be 0, or have less appreciation than BTC.
For investment purposes, BTC is a better bet than Monero. But from a privacy standpoint, Monero will still win, because it is way more decentralized than Lightning Network. I have a feeling that Monero will still be widely used, irrespective of how much BTC takes off as a viable payment option.
 
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