Crypto lounge thread

tomzestatlu

Kingfisher
I am thinking if I should rethink my current investments. Still in BLZ currently at 3X and in RARI with some loss. Before last crash, I saw BLZ going to few dollars and with RARI I am waiting for listing on some major exchange. Did fundamentals changed since before?

CPU is posting tons of good investment ideas, but unfortunately I can´t invest any more money, because I have made downpayment on a flat purchase. Maybe I could invest 1-2 thousands, that I´ve put aside to pay tax from previous gains by the end of year (there´s no way around for me from certain reasons).

I make a ton of mistakes. I was investing since autumn 2017, unfortunately I was waiting for XRP bullrun, which never happened and legal action was put on company. Then I recovered losts thanks to ETH, but cashed out too early (for flat downpayment) and now it would be worth much more.
I don´t want to make such mistakes as being impatient again.
 

Coja Petrus Uscan

Hummingbird
Gold Member
I am thinking if I should rethink my current investments. Still in BLZ currently at 3X and in RARI

My personal experience with BLZ makes me want to sell, assuming I get my coins back. They are working on branching to BSC, which means you should be able to get decent yield by farming it. They said they will offer bonuses to early poolers. Branching to BSC should give it a good shot. It seems a good project with a lot of big names attached to it. But it is barely used and I don't know if they will change this year. For it to continue moving it needs a slew of fresh news and adoption. The latter seems unlikely. So I am inclined to sell and have another go for 2024-2025 when it has established itself. It will probably go up more, but I think other will go up more. You can always break off half and gamble with that.

As for being disappointed with lost potential gains. Treat it as learning experience. If I still had all the crypto from my initial purchase and held it, I would have about 14X more than I have now with some good gambles throughout 2020-21. I have made few plays since I first dipped into financial markets in 2009 or so (50% loss). The more I watched and made moves (good and bad) the more I was able to spot patterns. Being a risk averse arch-conservative my eye looks for low-risk, high-reward entry markers. So I started buying crypto again in Jan 2020 through to today. The more I watch, the better decisions I make. In 2017 I picked a lot of good projects that didn't do that well - ENJ, BAT MANA. I was looking at strengths, like a good product, high-grade team and advisers. While in hindsight the irrational market just bought whatever had the most buzz. A lot of the buzz projects are in the doldrums now. While these solid projects that dug in during winter (ENJ, BAT, MANA) have been able to (re-)stake places in the top 100. This season the markets are a bit more logical. IN 2017 no one was using any of the coins for anything. In 2021 we are having huge gains for things people are actually using - CAKE, BNB, ETH, SOL, LUNA. So a simple rule is to buy things that people are starting to use. Right now that is SOL infrastructure (IMO). There are still good projects that may be used in the future, but buying them this season is unlikely to reap rewards. The closer something is to integral blockchain infrastructure and the more it is being used now and has potential to be used in the immediate future, the better a buy it will likely be. Things like retirement home management crypto, hotel booking crypto, logistics crypto, document management crypto are at least a decade too early, just like PDAs.

So, take all your knowledge from this season, and apply it going forward, particularly for the next season.

I would expect it to be listed on Coinbase as they are a major investor in the project.

Thanks. I didn't notice this. I dumped a load of ETH tokens yesterday that I thought were unlikely to perform well this year, but kept hold of that.

@Penitent - how do you see XMR being used as cash in the future?
 

Deepdiver

Crow
Gold Member
The Three Best Cryptos ETH (About to break $3K) and BNB (Over 600) because these are the most used DeFi and NFT blockchains... BTC is in B wave top turning mode... C target is the red 200 Daily Moving Average.

1619996205097.png


NamePrice24h %7d %Market CapVolume(24h)Circulating SupplyLast 7 Days
1
Bitcoin
BTC
$56,433.192.02%17.54%$1.06T$38.88B
687734.98 BTC

18,697,543 BTC
1-price-graph
2
Ethereum
ETH
$2,946.850.14%31.77%$343.75B$28.20B
9.49M ETH
115,713,634 ETH 1027-price-graph
3
Binance Coin
BNB
$618.370.28%25.13%$95.43B$3.72B
5.98M BNB
 

kurtybro

Woodpecker
I think all your assessments are correct. Jamie Dimon is struggling to keep up.

Solana is on FTX US, Binance US and Coinbase. I don't know if it's available on Coinbase US.

Solana is easy to use with web-based wallet. You can also use Ledger via these web-based wallets for better security/custody.

1) go to: https://dex.raydium.io/#/market/teE55QrL4a4QSfydR9dnHF97jgCfptpuigbb53Lo95g

2) select 'Connect'



3) select 'Sollet.io', which is the most popular wallet

4) save the seed phrase which can be used to recover the wallet, tick the checkbox and press 'continue'; if you loose the seed you loose the funds



5) type in the seed and press 'continue'



6) select a password and press 'create wallet'



7) press 'connect' to allow Raydium to connect with your account



8) on the Raydium DEX (https://dex.raydium.io/#/market/) you should now have a connection to you wallet



You can view you wallet at: https://www.sollet.io/

You need to have SOL in the account to be able to make transactions with any other tokens. Since the TXs are so cheap, you can just add a few dollars and that should be enough for a year of heavy use.

You can find you wallet address either by clicking on the ellipses next to 'disconnect', or clicking on 'account' at sollet.io.

A problem i have with sollet is that they don't let you create/recover wallets using an extra passphrase word. This should always be used IMO just in case of deterministic seed generation.
 

fokm

Woodpecker
Gold Member
I have some ETH and have been doing some DCA on it -- what do people think is going to happen with it short-term? I'm wanting to make a more sizable investment in it but obviously if it's going to go back down after this run I want to wait.

I'm also not sure what is behind its recent spike. It's usually trended with BTC pretty closely but that's not happening now. Makes me a little nervous.
 

lonewolf1968

Kingfisher
I have some ETH and have been doing some DCA on it -- what do people think is going to happen with it short-term? I'm wanting to make a more sizable investment in it but obviously if it's going to go back down after this run I want to wait.

I'm also not sure what is behind its recent spike. It's usually trended with BTC pretty closely but that's not happening now. Makes me a little nervous.
Check benjamin cowen mathematic analysis on ethereum, it may slow down in may-sep and even correct, yet it can take off in september. Historically data says so. Long term this year is 5k- 10k.
 

Kieran

Pelican
Gold Member
I've noticed the same mainstream media that are anti bitcoin are putting out pro Ethereum articles following the new ATH. I wonder if that's because it's not truly decentralised like bitcoin and therefore can be controlled. Suspicious to me anyway.
 

kurtybro

Woodpecker
What does this mean? You mean adding your own word onto the seed?

The Bank of England last night:
Yes exactly, wallets should generally allow you to add an extra (custom) word to the seed as an added precaution. This helps mitigate against possible vulnerabilities in the seed generation mechanism. It's also referred to as the "25th word"....very important feature IMO.

On another note, does anybody know why Ethereum fees fell so sharply in the last week or so?
 
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So this week, i made some very bad decisions concerning my crypto investments.

Many of the advice i got from here helped me when buying a coin.

My rules for my crypto investment is hold forever:)

But this week, i allowed my emotions and greed took over me.

I invested in turtlecoin last year, this year, turtlecoin did a x10, unfortunately, the price couldn't hold and it started falling. so i decided to pull out all my money and invest in another coin called scala( xla) a fork of monero which i bought on tradeorge. I bought about 34k pieces.

I was doing perfectly ok, until my greed and emotions took over me, i saw a new coin on tradeorge called bbscoin doing ×50, i decided to sell all my scala coin to buy bbscoin with the hope that when it reaches a particular price, i will sell it and then buy more of scala.

Lo and behold, 45 minutes after i had invested in this coin, the price tanked, i panicked and quickly sold my position, when i saw my balance, i was shocked, i decided to buy back scala and i could only get 8k pieces, i was pissed off.

To recover from my loss, i had to sell some coins i had on binance to get more scala.

Damn! I learnt a great lesson of self control, patience and the need to control one's emotions when investing.
 

Coja Petrus Uscan

Hummingbird
Gold Member
Yes exactly, wallets should generally allow you to add an extra (custom) word to the seed as an added precaution. This helps mitigate against possible vulnerabilities in the seed generation mechanism. It's also referred to as the "25th word"....very important feature IMO.

On another note, does anybody know why Ethereum fees fell so sharply in the last week or so?

I imagine it's OK if you are using a Ledger via Sollet? I thought in that case Sollet is just an interface for the hardware wallet; and it does not know your keys. Is their a wallet/interface you'd recommend?

On ETH fees. No idea. TXs up, fees down - https://ycharts.com/indicators/ethereum_transactions_per_day

The only thing I can think of is whales who have little care if they pay an extra $100 for gas are exiting or decreasing their activity. I think I may completely move out of ETH DeFi within a week or so. Would not be surprised if TVL tappers.

I have some ETH and have been doing some DCA on it -- what do people think is going to happen with it short-term? I'm wanting to make a more sizable investment in it but obviously if it's going to go back down after this run I want to wait.

I'm also not sure what is behind its recent spike. It's usually trended with BTC pretty closely but that's not happening now. Makes me a little nervous.

There is a lot of MSM coverage about it at the moment, behind the curve as usual
clown.png
. I am going to keep hold of it, but think the projection for the bull is to about $10K. July with be a bellwether, but by that time it will probably be eclipsed by BSC in TVL. Will likely move some+ to something else going forward.

Anyone doing the Step/usdc fusion LP on Raydium?

I didn't see why that one would be a strong mover. There is a project like that on Binance (YieldWatch), which has a cap of about $10M. Step has a cap of $85M and is only listed on one exchange. I am staking RAY and RAY-SRM.
 
Can you explain why you would stake Ray-SRM vs the higher return for Step? I'm new to yield farming. Is it because you see more upside to RAY than STEP?

PS: Glad you guys are here, I'm learning a lot, thanks.
 
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