Crypto lounge thread

Slim Whitman

Sparrow
“Flipping” generates value. For instance real estate. It is a mutual transaction. Someone doesn’t want to go through the hassle or expense of fixing everything before moving, so a “flipper” buys it for a fair price. The flipper uses his time and capital to improve the property, and is then compensated for his time, capital, and market risk with money. Human energy input = monetary output.

A lot of things that people seemingly make money from doing nothing, actually do have a benefit. Unless it’s a ponzi, people make money because they are being rewarded for the finite resource of human energy input.

A lot of this perception of people doing nothing but making money is Marxist propaganda. We see it all day everyday in most institutions. The wealthy people they hate only got it by stealing from honest, hardworking people. Most wealthy people got wealthy by taking huge risks, and providing something people want. This excludes the people close to government.
Shallow justifications for what is essentially "predatory buying". We have professional flippers scouring the nation, backed by huge investment funds, snapping up anything affordable that hits the market, often within hours. Then they slap on a coat of paint and a few cosmetic touchups and double the price. This greatly contributes to the affordable housing crisis, and robs people of lesser means the ability to purchase a modest home and make their own improvements, thus building equity for their family. If flippers were charging a markup commensurate to the work and money they invested in the home, it wouldn't be such a profitable grift. If it were just a few mom and pop home rennovators here and there, it wouldn't be such a massive problem but that's not the reality and you know it. House flipping creates a perverse situation where the bottom end of home buyers, including the first timers and the working class, have to compete with slick, algorithm-driven REITs to try and get their families into a home. Most people, if given the choice, would vastly prefer to do the remodeling on their own and save off the purchase price.
 

lonewolf1968

Kingfisher
Hey, I don't know where else to share my frustration, but for those who are just starting on Crypto hear me out. I put a very small position on Matic when it was trading at 0.025, and cashed out half when it did a 2x, then it went 2x again, and I did the same, and it happened over and over and over, and over, until I liquidated my position at around 1 usd. Today I'm kicking myself, It's nearly at 1.86 USD, that's 50x, this is crazy. I should have just sent those coins to my desktop wallet and forgot about them. Does that count as getting REKT? cause I feel like I just got REKT. I'll just buy a hard wallet just for the sake of making it harder to do stupid things like this.
 

fireshark

Robin
Hey, I don't know where else to share my frustration, but for those who are just starting on Crypto hear me out. I put a very small position on Matic when it was trading at 0.025, and cashed out half when it did a 2x, then it went 2x again, and I did the same, and it happened over and over and over, and over, until I liquidated my position at around 1 usd. Today I'm kicking myself, It's nearly at 1.86 USD, that's 50x, this is crazy. I should have just sent those coins to my desktop wallet and forgot about them. Does that count as getting REKT? cause I feel like I just got REKT. I'll just buy a hard wallet just for the sake of making it harder to do stupid things like this.


Almost everyone who's been in crypto longer than a year or so has at least one story like that.

When you have a real winner on your hands, don't sell 100% of it when you take profit. Try selling 20-30% at a time and letting it ride. I've been doing that with VET throughout this bull run.
 

slowpoke

Sparrow
Almost everyone who's been in crypto longer than a year or so has at least one story like that.

When you have a real winner on your hands, don't sell 100% of it when you take profit. Try selling 20-30% at a time and letting it ride. I've been doing that with VET throughout this bull run.

Bought VET at 1c and not selling any until its hits $1 :laughter:
 

bucky

Ostrich
I'm a complete newbie and saw an MSDNC article and liked the sound of it- have lost what looks like $1000 in a few days... Good lesson learned if nothing else.
It might come back. I'm a newb too and I just put my "free" stimulus money from the US government into crypto a few months ago. I've been up as much as 6k and underwater as much as 3k in that time. Crypto is very volatile and it sounds like you bought right before a big dip.

If it makes you feel better I lost about 50k USD on a bad investment over the last five years or so. Losing just 1k in Aussie dollars sounds pretty good by comparison.
 

Coja Petrus Uscan

Hummingbird
Gold Member
Would love a Sol datasheet and how to get into it at this stage

A few projects growing on the chain:

Options - https://zeta.markets/ (interesting as there are virtually no options available in the crypto space)
Game - https://solminer.app/
SOL ecosystem indexes - https://symmetry.fi/
Single point to manage your positions - https://apexit.finance/
Synthetic assets - https://twitter.com/official_fabric
Decentralised Cryptsy of Solana - https://www.solape.io/ *nod to Big Vern*
NFTs - https://solv.finance/
Algo-stable coin - https://www.soteria.xyz/
NFTs - https://allart.io/
Vaults - https://www.mercurial.finance/ * currently on the Raydium lanunchpad/accelyrator
Oracle - https://twitter.com/PythNetwork
Decentralised fund management - https://solrise.finance/
Automated yield optimiser - https://solfarm.io/ ** for whoever is into STEP, see the stupid yield on this
Launchpad - https://twitter.com/sunstarter_
IDO - https://www.val-holla.com/

Oh, here is a much larger list -

 
It might come back. I'm a newb too and I just put my "free" stimulus money from the US government into crypto a few months ago. I've been up as much as 6k and underwater as much as 3k in that time. Crypto is very volatile and it sounds like you bought right before a big dip.

If it makes you feel better I lost about 50k USD on a bad investment over the last five years or so. Losing just 1k in Aussie dollars sounds pretty good by comparison.
Cheers, I swapped the ICP to Ethereum, and if it goes up to 6k I will be back to square 1. Thinking of using any crypto gains to get a down deposit on a home before the madness of inflation
 

bucky

Ostrich
I was yield farming STEP, then I looked at the founders of STEP and promptly bailed, didn't look good to me.
You gotta know when to fold 'em.

I'm still up 4x or so on my DOGE. Yesterday there was some ad about DOGE on my feed on social media with thousands of comments. I browsed them and it was pretty consistent that the DOGE enthusiasts sounded like morons and the critics like people with actual facts who understand crypto. I was thinking of bailing when it was above 0.60 USD a few weeks ago, really thinking maybe I should now. On the other hand, I don't have a ton of DOGE and it would be just over 1k profit, so maybe I'll hodl and essentially put my faith in the power of large numbers of morons.
 

Deepdiver

Crow
Gold Member
I'm a complete newbie and saw an MSDNC article and liked the sound of it- have lost what looks like $1000 in a few days... Good lesson learned if nothing else.

This is a good lesson to avoid Hype Cryptos and Stocks at the first offering/listing to the Public as the insiders and whales just can't resist the urge to Pump and Dump and Pump and Dump and Dump and Dump. You would think all of the PhDs would have some sense and at least try to make it look like they didn't just lend their sheepskins to a long Pumpity Dumpster fire. So really just a Whales and insider Pump and Money Grab Dump wrapped in the PhD respectability of a Research Grants Crypto Slush Fund. Same thing happened when Cardano did a $3 Billion USDT Initial public Pump and Dump but there was light at the end of the 2018 Crypto Dump and beer money I had bought Cardano with at 3 cents pumps up to 33X when I sold for $1500 and now at $2.10 or over $3K - using the 1,500 on NFT projects to raise ETH the real Internet Computer foundation to the DeFi and NFT etc markets.

Bad News/Good News for ICP - ICP made 3 hourly touches of the upper trend chanels line and retraced next support may be around a new All Time Low at the mid RMS Channel Line at $40 as a continuation of the long impusling C wave down and could test lower than 40 as low as 10 - Good News not likely to test the lower trend channel at a Negative $100. So a good entry Point will be below $40 and Above $0. Only question will these PhDs who Put high Definition lipStick on this pump and dumped pig actually do something innovative with their funds raised and put a floor on this severely corrective ABC wave - even Cardano is still a BS story as the Smart Contracts Network Effects has ETH in position 1 and accelerating and BnB blockchain in position 2 drafting ETH.

Does Cardano and ICP have any chance at Smart Contract Blockchain Network Effect penetration - even if this ICP Pump and Dump party drops to $1 I would not buy unless these PhDs show some patentable innovations like Cardano did with Quantum Resistant Cryptography peer reviewed technology - at least the market willing to pump ADA innovations from a dump price of $0.03 to $2.10 a nice 70X pumpenomics result. NFT markets growing like mad and charging crazy ETH Gas - so any top NFT markets with their own tokens to pay Gas and earn sales rewards in ETH or their ETH Blockchain Tokens could be a good bet because I just paid $119.00 in gas fees to activate my selling account on OpenSea.io...

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lonewolf1968

Kingfisher
Almost everyone who's been in crypto longer than a year or so has at least one story like that.

When you have a real winner on your hands, don't sell 100% of it when you take profit. Try selling 20-30% at a time and letting it ride. I've been doing that with VET throughout this bull run.
Thanks man, I guess it's part of my tuition in the Crypto world. Painful lesson indeed.
 

Coja Petrus Uscan

Hummingbird
Gold Member
Mercurial Finance will be IDO'ing (initial decentralised offering) on Raydium tomorrow (19 May) @ 12:00 noon GMT.

You need either 50 or 500 RAY to be eligible and then have USDC to buy. Max is 600 USDC.

These IDOs have been very tight. I forked out several thousand dollars for Polkastarter, only to find that you need to first submit your address (sometimes containing lengthy) KYC to be able to buy in. With no guarantee you will be selected. Then there is a typically very small window in which you can buy in. You have to turn up at the right time, which is not always very obvious and hope you can blast your way in with a few minutes. The $ value is small. They tend to offer about $125,000-500,000 @ IDO. So the amount you can get could be quite small. Just hope your gas fee doesn't blow up in your face. So I nevere bothered with IDOs and dumped Polkastarter. Though they do very well. Many of them 50X. The IDO buy-in price is typically low. For the project it is just a form of easy promotion and to help a gold-rush along.

So it is good to see that Raydium are more open with their IDOs. There is no whitelisting. Just stake some RAY and turn up at the pre-advertised time. For the Mercurial IDO there is a four hour window.

I am not sure how it works exactly. The previous MEDIA IDO had a pool for people with 20 RAY staked and it was 4,119% filled. I imagine this means people only got a 1/40th of what they applied for. So that would mean just about $15. If that's the case it is barely worth turning up. But I will give it a shot tomorrow. There is a much larger 500 RAY ($5,000) staked pool for Mercurial, so may have a larger share.

In the case of the MEDIA IDO. It IDO'd for $10 and is now trading at $127.

Description & IDO URL: https://raydium.io/acceleraytor/
URL: https://www.mercurial.finance/
Team looks quite goo: https://www.mercurial.finance/team
Funding: Alameda Research (FTX), Solana Ecosystem Fund, OKEx, and Huobi
 

slowpoke

Sparrow
Thanks for the heads up @Coja Petrus Uscan

I'd like to give it a go but not exactly sure what to do as I've never done an IDO before...

On the link here: https://raydium.io/acceleraytor/ it seems to let you deposit USDC via your wallet. So I can do that straight away? (But it says 0% filled)

Then I also need to have either 50 or 500 RAY in my wallet too? and just visit the site tomorrow at 12pm GMT?
 
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