Crypto lounge thread

Deepdiver

Crow
Gold Member
Interesting that Gold and Silver Coin Melt Values as an OG alternative to Cryptos are down significantly so Markets Correcting, Cryptos that went parabolic Correcting and Gold and Silver Correcting...

https://www.coinflation.com/

2:15 PM PST gold price for February 26, 2021:
Gold $1735.25/oz
down.gif
-35.53

2:15 PM PST silver price for February 26, 2021:
Silver $26.71/oz
down.gif
-0.73

Gold/Silver Ratio: 1735.25 / 26.71 = 64.96 ozs of Silver to buy 1 oz of Gold.

BTC/Gold = 47,150/1735.25 = 27.17

BTC/Silver = 47,150/26.71 = 1,765.25

I use USDC as my stable coin when swing trading Crypts

Curious is there any interest in Gold or Silver backed Cryptos?

Is BTC too High or are Silver and Gold too Low?
 
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Deepdiver

Crow
Gold Member
I find the Nomad Capitalist Videos about "going where you are treated best" and then the homes he has bought in various countries and why - and the USD dollar relative costs as well as the best tax situations and Crypto friendly nations around the globe to be compelling. I really liked Andrew Henderson's interviews of Michael Saylor of MSTR and Roger Ver the force behind BCH - Who knew Antigua and Nevis-St Kitts were the worlds best countries for Crypto Entrepreneurs/Investors with BCH accepted as currency everywhere and near Zero Taxes and easy to buy 2nd Citizenship with no FATCA, FBAR or FINCEN and Commie Old Joe Marxist Confiscatory Taxation... The Roger Ver interview has me interested in BCH and its transactional optimization (Low Use and Transfer Costs vs BTC etc).





 
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Deepdiver

Crow
Gold Member
FYI I loaded the most recent free version of the ProtonVPN for WiFi access and Crypto privacy and was surprised at the low impact on bandwidth ... I also like the dashboard monitoring as my free home wifi in my building atrium is 90MB in our public Atrium and only 2 to 3 MB in my private Apt and ProtonVPN seems to keep my connection more consistent ...


 
I'm having a hard time depositing money on Binance, Bittrex, and Gemini. I think the only way I can do it is by wiring money and I'm not paying a $25 fee to do that. I don't understand why those brokers make it a hard process when Coinbase makes it easier.

Can anybody tell me some alternative routes to access coins on Binance, Bittrex, and Gemini? I'm currently exploring the Kucoin route and it seems like I can pay with credit card and then I can swap to get NFTs and DEFI coins. I want exposure to ENJ, Monero, UNI, and MANA.

Is it legal to use a VPN to make purchases for brokers that don't want American customers? Does anybody have any videos that explain that process?

I think Coja Petrus Uscan said the government will one day make it hard to transfer crypto to wallets and I'm making my move now.
 

Deepdiver

Crow
Gold Member
Another interesting perspective on the Monero XMR trade setup basically a Head and Shoulders candle pattern forming at the .618 Retrace level 191.00 previous wave 3 high from the 200 Day moving Average low (Wave 4 Low) 130 larger B wave back up to .618 190 to form a right shoulder - if the .618 retrace holds as resistance on the forming right shoulder you take the horizontal .618 line to the All Time High $290 on the Kraken data feed... then subtract that 100 points from the .618 191 level for an inverse of the head-shoulders run to $91 for a retrace range of $91 to $110 C=A Chart target above as the optimal re-entry range for XMR.

$91 would be a larger Fractal A-B-C retrace confirmation as the C leg can equal the A leg or C can equal 1.618 times A with a Trend break below the red 200 DMA at $130.

For Head and Shoulders rules and all major Candlestick etc chart patters see:

Encyclopedia of Chart Patterns Hardcover – May 2, 2005​

by Thomas N. Bulkowski (Author)

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Deepdiver

Crow
Gold Member
Interesting discussion about NFTs from the Dapp University dev...

Honestly if I had a choice between the Rolex Submariner or a rare NFT Digital Asset (Pixelated Cartoon Heads???) I am taking the Rolex preferably the solid 18kt Gold model with a Navy Blue Face - Nuke Boats Forever and whatnot... but that's just me. Digital Cartoon Head Avatars for stupid amounts of crypto money - Really?

Great racket for the online crypto gamers that dreamt this up.

What gives a Rolex value? Precision Swiss Engineering and ultra high quality precision Swiss manufacturing and Rolex global habit of dumping distributors who sell to secret Rolex buyers below the Rolex allowed retail price range.

Now the Cryptos that allow you to digitize title to real assets could be interesting - I have quite an interesting Silver Coin Collection that could back some of these cryptos and say sell a 50% stake in each coin or proof set to buy more silver coins on the Harry Dent markets correction for example - Collectible real silver coins have a built in numismatic scarcity above the Silver melt value.

Could do same with an 18kt Gold rare valuable watch collection or rare automobiles collection as a long term investment as well.

 
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Deepdiver

Crow
Gold Member
Any thoughts on the upcoming Coinbase IPO?

I think the SEC has more incentives to watch crypto traders. Also higher fees. All the more incentive to go on other brokers.
So I did a test of my Trezor 1 with the new Trezor Win10 App... Tried to send a $200 fraction of a bitcoin from Kucoin to the Trezor however the Trezor 1 gave me a bc1 address that Kucoin refused to recognize as it was a Bitcoin Legacy Address - DaPhook? - so I bought 1.1 Litecoins and after inputting the 10 Min expiry Email Code with 20 secs remaining that KuCoin sent to my protonmail adxx and then the Google Authenticator 2FA code it let me send the 1.09999... LTC charging me 136 hundred-millionths of an LTC to my one time Trezor LTC address. A very small fee. Coinbase required a registration email of my PC plus Google Authenticator 2FA for all transactions so pretty good security.

The Trezor 1 has a very limited number of Cryptos it will accept BTC, BCH, Dash, LTC etc but not USDC or XMR - Updated the T1 Firmware and recorded the 24 Seed words all in lower case needed reading glasses to see the words on the mini Trezor1 display, set my Pin which the T1 shows in a scrambled numeric Tic Tac Toe type 9 digit 3x3 format you have to enter on the Trezor App then you have to activate the confirm button on the T1 for all send and receive transfers so Good KuCoin and Trezor security hard to phish or hack.

Then I sent the max LTC 1.09999... to Coinbase and had to register my PC on Coinbase via their email to my protonmail address again 134 hundred-millionths fee on the LTC blockchain - I bought the LTC on Kucoin at 173 and it popped to 175 during the transaction transfer to Coinbase - took about 30 mins pending for 8 confirmations on the LTC blockchain with a view link on a blcokchain analysis website. I then sold the LTC on Coinbase no fee but there was a 1.5% $2.95 fee to withdraw my cash to my Credit Union account which has a 3 day float - so Coinbase gets the 3 day float and the approx 1.5% fee.

A rather high fee for a Fiat Bridge transaction but cheaper than a Visa/MC fee so the Coinbase IPO likely to pop like a MOFO - like most IPOs likely to be a big Pump and then retrace for optimal entry - too bad they don't have a Coinbase Crypto like Binance Coin and KCS KuCoin Coin instead of shares- considering the Coinbase Float and Fees likely to be very profitable yet very high PE ratio after the IPO Pump POP and retrace. HTH

FYI- A lot more money to be made with BTC CME futures trades... My stealth advisor was recently invited to trade CME BTC futures on tasty trade at an intro day margin of $1,900 per 5 BTC contract.

BTC forming a classic ABC retrace to Fib Ext and Wave 5 Retrace levels heading towards a point between the $40K .618 and $35K .786 wave 5 retrace range target of $38.5K BTC 20 Day SMA Average true range is now over $4,100 per day (ATR True is todays move) therefore the wide C leg retrace range... See Lower Barchart.

Note I received a PM to share this analysis in the Bitcoin thread but the BTC purists there get their panties twisted if you dare mention ALTS there so I post in this broader Crypto Lounge Thread with the much more open minded individuals here.

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Deepdiver

Crow
Gold Member
Attorney General of NY

Errata Correction:

Investing in modern technically cost effective Monetary Blockchains with proper risk management (Stop Losses or better Trailing Stop Losses) could result in enormous wealth creation with negligible Globalist WEF NY State Ditsy Bimbo ignorant interference.

FYI:



Perhaps GS might give this NY State Ditz a clue.
 

HKBhusal

Sparrow
Does anyone have any thoughts on ecomi (Singapore-based NFT co., if I'm not mistaken)? I'd be interested in maybe purchasing this and some tokens...



Are there any private/secure exchanges where I would be able to purchase this anonymously? I'm fairly new getting into this, please excuse my ignorance to all the more seasoned traders out there.
 

Kieran

Pelican
Gold Member
Anybody have any of their bitcoin in a block-fi interest account? How much of a risk do you think it is? I've done some research but I'm not the smartest and I trust people's input here.

Also thanks to Deepdiver again for sharing the analysis here.
 

Deepdiver

Crow
Gold Member
Anybody have any of their bitcoin in a block-fi interest account? How much of a risk do you think it is? I've done some research but I'm not the smartest and I trust people's input here.

Also thanks to Deepdiver again for sharing the analysis here.
Pomp is highly respected by new Billionaire crypto fans like Michael Saylor this is the Blockfi endorsement/afilliate link on his YT channel recent videos.

Anthony Pompliano
156K subscribers

Welcome to the 224th episode of Lunch Money with hosts Anthony "Pomp" Pompliano and Polina Marinova (Now his Wife). Remember, while Wall Street is trying to get rich, the rest of us are just trying to get our lunch money right. BlockFi provides financial products for crypto investors. Products include high-yield interest accounts, USD loans, and no-fee trading. To start earning today visit: http://www.blockfi.com/pomp

BlockFi provides financial products for crypto investors. Products include high-yield interest accounts, USD loans, and no-fee trading. To start earning today visit: http://www.blockfi.com/pomp

Let us know your opinions of the Blockfi Pros and Cons if you use it...
 

Deepdiver

Crow
Gold Member
Coinbase xfer update - I was expecting my direct deposit from my test Coinbase LTC sale on Thursday as indicated in the Coinbase transfer page for a 3 day float and just checked my credit union account and viola the deposit came in a day early not sure if due to Coinbase on the ball or my CU posting with no delays...

MAR 02External Deposit - COINBASE INC.
 

Coja Petrus Uscan

Hummingbird
Gold Member
Anybody have any of their bitcoin in a block-fi interest account? How much of a risk do you think it is?

They are heavily regulated, if you think that leads credence.

That I know of the only centralised lending platform that has lost money and gone down was called MyCred. I have been loaning out dollars on crypto platforms since about June 2015 and have not lost anything. I think they are more trustworthy than banks. Banks have about 10% of funds on hand - maybe not even that. I presume good crypto sites like Binance run on a full reserve.

According to this: https://coincentral.com/blockfi-review/ it does not seem BlockFi is insured itself. Though the funds are held on Gemini, which is insured (doesn't say specifically how much).

The issue with BlockFi is you have to lock up your coins for a term. The longer the term, the higher the rate. And the short-term rates are measly compared to what you can get on DeFi and some other platforms.

I prefer Nexo: https://nexo.io/earn-crypto

They say they have about 40% of the funds insured. So long as they are not a chop-shop that should be enough to cover any hacks in hot wallets.

And YouHolder: https://www.youhodler.com/

Not sure exactly what the insurance situation and you have to trust them on their security.

Crypto sites have dealt well with hacks of late. KuCoin, which is a 2nd tier exchange was hacked for $285M; and they were able to get back a lot of the coins from collaboration with other exchanges and blockchains. So far as I know no clients lost cash. This is, again, better than I think you would get from banking.

There is also Crypto.com, which pays 6.5% on BTC on a 3 month term, if you have their mid-level card, which currently requires you buy and stake $4K of their token. I believe that is the best rate you can get on BTC anywhere. If you have their two higher level cards ($40K, $400K) you get an extra 2% in their CRO token, which you could just convert to BTC, so 8.5% in that case.

Last year I lent out BTC for a total of about 5% interest, with an average entry price of about $10K. So 25% of the entry price for 9 months of lending. But now I am shifting most funds to DeFi, because I don't want to wake up to find I can't withdraw the coins unless I provide a mountain of documents, that I might not be able to provide.

On DeFi lending Fulcrum has insurance and is currently netting 15-21% on stable coins: https://app.fulcrum.trade/lend

But many DeFi projects net much higher than that at the moment. You can get up to 65% for ETH-stable coins pairs on Uniswap (projected, varies on factors). Some on Curve are projected over 100%. These are legit. The risk is smart-contracts being compromised. See the DeFi thread last post for more info.
 
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