Crypto lounge thread

cosine

Robin
Land is God's bitcoin, or maybe, bitcoin is digital land. The arguments for the two are similar; there's only so much, but so many humans. Bitcoin is transportable, whereas land is something you can live on, or rent out for cash flow.

The gov't is incentivizing people to buy real estate with massive debt. I accept.
 

Mikeyd03

Woodpecker
Anyone know of any solid play to earn crypto games….super hyped for Illuvium but really looking for a game that’s available right now (besides axies)
 
Any thoughts on STX (Stacks)?

Been pumping more recently and lots of staking action going on to earn BTC.
I own a small amount, I've been stacking for the last few cycles for a little bit of BTC.

Also the first DeFi app on STX launched a day or two ago, Arkadiko finance. Rewards/emissions start in the next day or so. My strategy is to deposit STX into a vault and withdraw USDA, provide liquidity for STX-USDA and stake the liquidity token.

Will update on rewards in a week or two.
 

bucky

Ostrich
So now BTC/USD is back to where it was before the big crash basically, within a few weeks.

In addition Bitcoin ETFs have been approved by the SEC. This has even Gold investors worried that money will flow into Bitcoin, and be taken away from Gold.

Whilst a correction may now follow, I would be amazed if Bitcoin does not go to 70,000 in a few weeks.
Really thought when it hit the high 60s a few days ago that was it, the big breakout was finally here. Just fell below 60k though. Hopefully you won't be unpleasantly amazed in a few weeks.
 

lonewolf1968

Kingfisher
Last time BTC broke its previous ATH it corrected 11% and stood below it for around 17 days. It was my first 6 months in Crypto and I was freaking out. Thought about selling half to recover my initial investment. So far I think we're good, It's not even been 5 days and we have a lot of room even down to the 50s where the 60 MA support is. I think is just a matter of time to be above 70s. It's also good for the On-chain as we cool off after a massive run up.

The internet is great, I think I've learnt a little lol. May the experts here correct me.


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Really thought when it hit the high 60s a few days ago that was it, the big breakout was finally here. Just fell below 60k though. Hopefully you won't be unpleasantly amazed in a few weeks.
Like I said a correction was likely after such Bull ride on BTC/USD, but with the BTC ETFs approved by the SEC I think 70,000 is possible in a few weeks. Of course only a fool predicts the future, and it could be 4 or 8 weeks or more, but the strength in BTC can not be denied, and with the ETFs approved by the SEC this will only ensure more money flows towards BTC.
 
What's the winning move in crypto right now? Most of my holding is in fiat on kraken and I'm not looking to buy the top.. uhg I don't know what move to make
I will preface this post with this statement, this is not financial advice and crypto is volatile. Buy at your own risk. That being said here are my plays.

1) STX. STX is a smart contract platform built on top of Bitcoin. TBH who knows where its going. Might flop or might be the next big smart contract platform. STX is a x20 if it has reaches the market cap of Solana and a x5 if it hits the market cap of avalanche. The ecosystem is growing with NFTs already on it and the first DEX launched less than a week ago. You can also "stack" stacks to earn bitcoin at a ~10% rate.

2) Arkadiko.finance. This is the Dex that just launched on Stacks. For me this is a short term play to boost my stacks bag. Arkadiko is giving out a TON of rewards in the first few months of existence. Check out this ridiculous emissions schedule. Arkdiko is distributing 1.7 million DIKO tokens in the first week. Right now that is a value of ~9 million dollars distributed (will go down with inflationary pressure from the rewards). Here is a google doc for calculating rewards.

3) Olympus DAO and Wonderland Money for staking not just holding. They feel like ponzi schemes. I started with very small bags in each, both have grown considerably and I have rotated original investments back into Ethereum so I am playing with house money. Read the docs and medium posts, lurk the discords before you write of this type of protocol as a ponzi.

4) I'm looking into new smart contract platforms. Thinking Fantom or Avalanche, not super sure yet. Either could grow to the size of Solana.

5) Can never go wrong with BTC, ETH or Chainlink (IMO). Two bull cycles will put you up 5-10x what you put in (used to be 100x but i think those days are gone). You WILL fee like a dummy during the bear.
 

Mikeyd03

Woodpecker
I will preface this post with this statement, this is not financial advice and crypto is volatile. Buy at your own risk. That being said here are my plays.

1) STX. STX is a smart contract platform built on top of Bitcoin. TBH who knows where its going. Might flop or might be the next big smart contract platform. STX is a x20 if it has reaches the market cap of Solana and a x5 if it hits the market cap of avalanche. The ecosystem is growing with NFTs already on it and the first DEX launched less than a week ago. You can also "stack" stacks to earn bitcoin at a ~10% rate.

2) Arkadiko.finance. This is the Dex that just launched on Stacks. For me this is a short term play to boost my stacks bag. Arkadiko is giving out a TON of rewards in the first few months of existence. Check out this ridiculous emissions schedule. Arkdiko is distributing 1.7 million DIKO tokens in the first week. Right now that is a value of ~9 million dollars distributed (will go down with inflationary pressure from the rewards). Here is a google doc for calculating rewards.

3) Olympus DAO and Wonderland Money for staking not just holding. They feel like ponzi schemes. I started with very small bags in each, both have grown considerably and I have rotated original investments back into Ethereum so I am playing with house money. Read the docs and medium posts, lurk the discords before you write of this type of protocol as a ponzi.

4) I'm looking into new smart contract platforms. Thinking Fantom or Avalanche, not super sure yet. Either could grow to the size of Solana.

5) Can never go wrong with BTC, ETH or Chainlink (IMO). Two bull cycles will put you up 5-10x what you put in (used to be 100x but i think those days are gone). You WILL fee like a dummy during the bear.
agree with a lot.....specifically avax and ftm.....both solid R/R here. Can you speak on Olympus a bit more, haven't had time to experiment with it just yet.
 
agree with a lot.....specifically avax and ftm.....both solid R/R here. Can you speak on Olympus a bit more, haven't had time to experiment with it just yet.
I realize this is crypto and a lot of people just jump into things. I have much better success if I take even a half hour to read the docs surrounding a protocol. My process for picking protocols is hear about on twitter/forum > read the docs >lurk in discord > buy >sell half if investment doubles (in ETH terms minus fees).

The docs will explain Olympus better than I can. Read the FAQ here.

The gist is Olympus offers really high APY for stakers including 3x daily auto-compounding which brings in buying pressure whenever the price goes low. They are able to do this by having a huge treasury. The treasury is generated by bonding (trading OHM for collateral like dai at 2-3% discount on the price of OHM) and by the protocol owning >99% of the liquidity on the two swaps that carry OHM, Uniswap and Sushiswap.

There's no runs because they have the collateral to back up the token they are printing. OHM is backed but not pegged to 1 Dai (so 1 dollar). It trades at 1Dai + Premium. At the time of writing OHM is trading at ~1200. Say you buy 1 OHM and the price immediately collapses to the point that everyone else but you sells their OHM and you keep your staked. The price cannot fall below 1 dollar, if it does the protocol buys the OHM and burns it. The protocol will also raise the interest distributed to stakers back up meaning your 1 OHM will double and double and double. The math works out to the point that if OHM goes to 1 and you are staking, you will have a return that recoups original investment and a little extra over the year. So OHM will still be worth 1 but instead of owning 1 OHM over the year you will own slightly more than 1200 OHM which you can then sell back to the DAO for the treasury reserve asset.

This theoretically keeps a bank run from happening and the protocol from going to zero. It feels like a ponzi, but I've watched it hit 2 really big drawdowns, I'm talking losses of 80+ percent and its come back both times so the game theory/incentive structure seems to work. Of course the real test is during a bear market...

That being said you can only buy/bond OHM on the Ethereum network so the fee to buy is ~100 in eth and the fee to bond is around ~100 in eth. Probably not wo
 

BasedBaker

Sparrow
1) STX. STX is a smart contract platform built on top of Bitcoin. TBH who knows where its going. Might flop or might be the next big smart contract platform. STX is a x20 if it has reaches the market cap of Solana and a x5 if it hits the market cap of avalanche. The ecosystem is growing with NFTs already on it and the first DEX launched less than a week ago. You can also "stack" stacks to earn bitcoin at a ~10% rate.
Where are you "stacking" your stacks to earn this BTC?
 

Mikeyd03

Woodpecker
You mentioned awhile back you are big on PRE, what has you interested in it and do you think right now is a good time to go in?
PRE is just a search engine I use to earn PRE tokens….also nice not using google.

I just looked at the chart….looks like it’s pumped recently.

9/10 I wait for a retrace to .618-.786 retracement level from the recent pump as a level to entrer any coins Im eyeing.
 

Mikeyd03

Woodpecker
I realize this is crypto and a lot of people just jump into things. I have much better success if I take even a half hour to read the docs surrounding a protocol. My process for picking protocols is hear about on twitter/forum > read the docs >lurk in discord > buy >sell half if investment doubles (in ETH terms minus fees).

The docs will explain Olympus better than I can. Read the FAQ here.

The gist is Olympus offers really high APY for stakers including 3x daily auto-compounding which brings in buying pressure whenever the price goes low. They are able to do this by having a huge treasury. The treasury is generated by bonding (trading OHM for collateral like dai at 2-3% discount on the price of OHM) and by the protocol owning >99% of the liquidity on the two swaps that carry OHM, Uniswap and Sushiswap.

There's no runs because they have the collateral to back up the token they are printing. OHM is backed but not pegged to 1 Dai (so 1 dollar). It trades at 1Dai + Premium. At the time of writing OHM is trading at ~1200. Say you buy 1 OHM and the price immediately collapses to the point that everyone else but you sells their OHM and you keep your staked. The price cannot fall below 1 dollar, if it does the protocol buys the OHM and burns it. The protocol will also raise the interest distributed to stakers back up meaning your 1 OHM will double and double and double. The math works out to the point that if OHM goes to 1 and you are staking, you will have a return that recoups original investment and a little extra over the year. So OHM will still be worth 1 but instead of owning 1 OHM over the year you will own slightly more than 1200 OHM which you can then sell back to the DAO for the treasury reserve asset.

This theoretically keeps a bank run from happening and the protocol from going to zero. It feels like a ponzi, but I've watched it hit 2 really big drawdowns, I'm talking losses of 80+ percent and its come back both times so the game theory/incentive structure seems to work. Of course the real test is during a bear market...

That being said you can only buy/bond OHM on the Ethereum network so the fee to buy is ~100 in eth and the fee to bond is around ~100 in eth. Probably not wo
Seems similar to AMPL, slightly different mechanics
 
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