Crypto lounge thread

[soylentgreen223]

I remember in 2019 I was playing around on Decentraland....there were hardly any users. I listened to Barry Silbert discuss the potential of the metaverse. I even browsed OpenSea (not thinking anything of it or having any clue what a Crypto Punk was). A missed opportunity indeed....at the very least I bought DCL at .02 to claim a DCL name.

The point is I feel like the overlooked sector now is privacy. Silbert has also recently tweeted about allocating towards privacy coins (although he's a big proponent of Z-Cash).

It's just hard for me to imagine a future where privacy coins aren't necessary. "Web 3" has already shown it's inclined towards cancel culture: https://cointelegraph.com/news/ens-dumps-director-of-operations-in-condemnation-of-homophobic-tweets

"But Matt Damon, Tom Brady, and Jack Dorsey are now telling me I should own crypto."

Makes you pause.

Anyways, just a reminder....don't sleep on the privacy coins!

There is a lesser-known privacy coin that my cousin is an engineer for. Mobilecoin. It is currently integrated into signal messenger. I wouldn't normally touch it, but my cousin is smart/credentialed and believes in it.

Problem is the price is unstable and the 250 million coins were basically pre-mined with many sold off to VC's. Price is down 90% from it's highs (there was a major short-squeeze event shortly after launch last year), but they have a mobilecoin stablecoin, "m-USD", in development that should release soon. I have been told that the m-USD and mobilecoin may have a relationship akin to UST/Luna, so if the private mobilecoin stablecoin becomes popular, mobilecoin could moon.

Binance/Coinbase/FTX are all investors as well, so hopefully it will launch in the USA on these exchanges. I don't see monero being accepted in the USA anytime soon, but maybe mobilecoin could be a privacy coin that eventually gets accepted.

The thing that concerns me is that the CEO (josh goldbard) and Signal founder (Moxie Marlinspike) are both likely members of the tribe, but i trust the engineering team to have delivered a strong product.

 

[BasilSeal]

What are you all doing in regards to taxes and cyrpto?


Unfortunately when I first got into crypto, I started with Coinbase. Slowly working away from it.

Coinbase sent an email about tax forms, etc.

I've only bought various coins, and transferred to my wallet -- I haven't sold any and I don't receive income from crypto.

Yet their tax forms are trying to get me for short and longterm capital gains. What's that about considering I haven't sold?

No transfers or exchanges from one currency to another? No purchases of any goods or services using crypto?

Does Coinbase even issue tax forms? I thought they just pointed you to cointracker as one example of tax-documents-as-a-service prep for cryptocurrency. In which case, cointracker should have a fairly detailed record of every transaction starting from Coinbase or your wallet public address, and should calculate all the relevant capital gain or loss using cost basis.

Until or unless you have all your wallets and crypto accounts listed with such systems, it would be fairly impossible for it to decide what transactions are taxable.

 

[slowpoke]

There is a lesser-known privacy coin that my cousin is an engineer for. Mobilecoin. It is currently integrated into signal messenger. I wouldn't normally touch it, but my cousin is smart/credentialed and believes in it.

Problem is the price is unstable and the 250 million coins were basically pre-mined with many sold off to VC's. Price is down 90% from it's highs (there was a major short-squeeze event shortly after launch last year), but they have a mobilecoin stablecoin, "m-USD", in development that should release soon. I have been told that the m-USD and mobilecoin may have a relationship akin to UST/Luna, so if the private mobilecoin stablecoin becomes popular, mobilecoin could moon.

Binance/Coinbase/FTX are all investors as well, so hopefully it will launch in the USA on these exchanges. I don't see monero being accepted in the USA anytime soon, but maybe mobilecoin could be a privacy coin that eventually gets accepted.

The thing that concerns me is that the CEO (josh goldbard) and Signal founder (Moxie Marlinspike) are both likely members of the tribe, but i trust the engineering team to have delivered a strong product.

 

[Maddox]

What do you guys think of XRP?

As a newbie in crypto, I've been looking to find the next Bitcoin to invest into that may have a good deal more risk, but could have a massive payday. It seems that banks love it, and if they win their current lawsuit, it would seem that many more banks would adopt XRP.

So my questions are:
1. What do you see XRP getting to in the next 5 years?
2. Should I buy now or wait for the lawsuit to end?

 

[lonewolf1968]

What do you guys think of XRP?

As a newbie in crypto, I've been looking to find the next Bitcoin to invest into that may have a good deal more risk, but could have a massive payday. It seems that banks love it, and if they win their current lawsuit, it would seem that many more banks would adopt XRP.

So my questions are:
1. What do you see XRP getting to in the next 5 years?
2. Should I buy now or wait for the lawsuit to end?

Market cap is too big, there's no such thing as next bitcoin so I'm sorry to pop your bubble. XRP army is full of bitcoin haters who think their ripple token will be used by banks which doesn't seem to be true, let's say though that it has utility I don't think it goes above 5-10 usd. If you want a 100x coin you gotta look for a gem with a small market cap and that is risky. DYOR

 

[BURNΞR]

What do you guys think of XRP?

As a newbie in crypto, I've been looking to find the next Bitcoin to invest into that may have a good deal more risk, but could have a massive payday. It seems that banks love it, and if they win their current lawsuit, it would seem that many more banks would adopt XRP.

So my questions are:
1. What do you see XRP getting to in the next 5 years?
2. Should I buy now or wait for the lawsuit to end?

1. too many variables to give a guesstimate
2. wait. I think it is unlikely that Ripple will 'win' the suit this year and xrp is given clarity. It is likely that the SEC will drop the suit if they believe they are going to lose and refile later or just wait until the government gives them more power over regulating cryptos like xrp. The SEC is holding all the cards despite whatever bullish news you might be hearing about XRP and Ripple so I'd be very cautious about getting into this.

 

[science]

I some some btc and another a couple grand split between like 10 alt coins. Is there a wallet I can keep all my coins together and stake them>?

 

[doodydota]

I use Guarda wallet on PC
For what I have seen it has inbuild staking for some coins, but I personally have no experience with staking.
https://guarda.com/

 

[soylentgreen223]

Does Samseau still believe in bitcoin/monero?

 

[cosine]

Advances in the Lightning network seem like they make Ripple completely obsolete.

Also, the whole fact that Ripple is an entity that can be sued is a massive risk.

 

[homersheineken]

I"m guessing it's been discussed in the 100+ pages here, but what is the best way to get off Coinbase?

I'd like to be able to continue to buy but most options I've looked at don't allow buying with $ - just trade with other coins.

 

[BasedBaker]

I"m guessing it's been discussed in the 100+ pages here, but what is the best way to get off Coinbase?

I'd like to be able to continue to buy but most options I've looked at don't allow buying with $ - just trade with other coins.

I like KuCoin. CoinMetro is another exchange, but has limited options and highly KYC.

 

[Mikeyd03]

Have been scooping ENS domains.

 

[Topher]

I"m guessing it's been discussed in the 100+ pages here, but what is the best way to get off Coinbase?

I'd like to be able to continue to buy but most options I've looked at don't allow buying with $ - just trade with other coins.

I use a free Gemini trader account for low fees. If the coin is not on that exchange I send usdc to kraken. Coinbase seems like the worst option to me.

 

[BasedBaker]

Have been scooping ENS domains.

What is this? I've never heard of ENS domains.

 

[Coja Petrus Uscan]

What is this? I've never heard of ENS domains.

An alternative to the domain name system (DNS) controlled by ICANN, that resolves domains names, e.g. rooshvforum.com, to the IP address where the site is hosted, e.g. 192.127.0.2.

You can't complain too much about ICANN, compared to the likes of Youtube, Twitter etc. But look how quickly they went from defending leaving up KKK videos, to demonetising anyone who isn't explicitly left-wing.

I think Opera has integrated another alternative DNS called Unstoppable Domains, which is far too centralised. I think Ray Dalio hosts a site on one of their domains, which if memory serves me include .zil, .eth and .crypto.

ENS just has .eth = https://app.ens.domains/name/rooshvform.eth/register

There is another one called Handshake, which seems the best to me:

Handshake

You can register the TLD on there, e.g. https://us, http://orthodox, and then you have the rights to issue domains on those TLDs, e.g.

https://russian.orthodox

But I suspect pretty much anything half decent has gone, as it virtually costs nothing to register them. I know one guy whose got millions of them. That's a free system for you. Unstoppable are hawking premium names for beaucoup money.

I think Handshake looks by far the best one to go for. Domains in the Alexa top 100,000 are reserved, e.g. https://yandex can only be claimed by yandex.ru etc.

See: https://hsd-dev.org/guides/claims.html

To buy:

.rooshv | Handshake top-level domain | Namebase

.rooshv TLD on the Handshake blockchain, a decentralized internet blockchain DNS for the decentralized web. Search for Handshake top-level domains, buy/sell Handshake TLDs using Namebase.

www.namebase.io

 

[Mikeyd03]

What is this? I've never heard of ENS domains.

web 3 domains.....instead of .com you buy .eths. Costs around $50-$60 to register right now, but the thing is we're here before the big guys.

If you look into the domains that large companies buy you can see that they own many domains. Sometimes they will even purchase domains that protect to their company's brand....example: "applesucks.com"

My goal is to get to 100 ENS domains. Conciseness and exact matches are my strategy. They could end up being worthless, but it's an asymmetric play. Don't underestimate the stupid things the filthy rich are willing to spend on just to flex.

 

[Coja Petrus Uscan]

Looks like the price will consolidate at this level. Was hoping this was going to be a protracted move up over months, but it's looking like sideways, and then a big move soon. When those blue lines get close together the price moves quickly in one direction or the other. Looks like this could be the most aggressive squeeze in BTC history (referring to the proximity of the lines).

 

[Blade Runner]

Looks like the price will consolidate at this level. Was hoping this was going to be a protracted move up over months, but it's looking like sideways, and then a big move soon. When those blue lines get close together the price moves quickly in one direction or the other. Looks like this could be the most aggressive squeeze in BTC history (referring to the proximity of the lines).

Lyn Alden and a few others at the conference seemed to agree that the next 6 months will be uncertain or volatile. I know Gareth Soleway, who has done good work charting many things including BTC in the last year or so, believes that there is still a possible downside toward 20k, though he is very bullish long term. Perhaps I should wait til June to re-enter the market, or even August.

 

[Coja Petrus Uscan]

Lyn Alden and a few others at the conference seemed to agree that the next 6 months will be uncertain or volatile. I know Gareth Soleway, who has done good work charting many things including BTC in the last year or so, believes that there is still a possible downside toward 20k, though he is very bullish long term. Perhaps I should wait til June to re-enter the market, or even August.

I can see 20K too, even though the activity in the space is now very bullish. It's obvious BTC is entering the stages comparable to the early internet - the early 90s. The Bitcoin Conference had a lot of high-key speakers.

I am holding until the next big movement up/down and will trade that direction.