Crypto

calvegas04

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Are any of these crypto coins going to provide tech that is going to have real impact in the world? Or are they all get rich quick schemes? I would be willing to invest if I can see one of them growing in the future due to it being useful.
 

tussin

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What exchange do you use? I was looking at Gate.io, but it seems a bit shady.

I use Binance.US for stuff like Hedera. Also kind of shady and I usually transfer to a third party wallet soon after purchase.

Are any of these crypto coins going to provide tech that is going to have real impact in the world? Or are they all get rich quick schemes? I would be willing to invest if I can see one of them growing in the future due to it being useful.

Tons of cryptos have an actual use cases. Hedera is one good example, but there are many others with a broad swath of applications from smart contracts (ETH) to P2P payments (Nano) to store of value (BTC, sort of). Will they ever reach mainstream adoption? Who knows?
 

IrishRazor82

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Are any of these crypto coins going to provide tech that is going to have real impact in the world? Or are they all get rich quick schemes? I would be willing to invest if I can see one of them growing in the future due to it being useful.

IMO - about 5 of them will have serious staying power. For the next couple of years, these are all small bets on which 5 those are, and those 5 will be legitimate and make people rich. The rest will peter out.
 

Sherm Sticky

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I use Binance.US for stuff like Hedera. Also kind of shady and I usually transfer to a third party wallet soon after purchase.



Tons of cryptos have an actual use cases. Hedera is one good example, but there are many others with a broad swath of applications from smart contracts (ETH) to P2P payments (Nano) to store of value (BTC, sort of). Will they ever reach mainstream adoption? Who knows?

Living in New York or Connecticut Binance is not currently available. Binance would be my preferred exchange, but I am currently using Coinbase because NY and CT suck.
 

Luckylucci

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Not crypto specifically but I had a 215 limit on COIN get triggered at the open. I’m going to hold that for awhile.
 

Te'o4Heisman

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So what is everybody's feel on this? Does the bottom continue to drop completely out, or are we near some sort of floor where it might be a decent buy opportunity?
I cashed out on LINK a few weeks ago at about $45, so seeing it back down in the $15-17 range right now is pretty tempting.

Does anybody think this whole market just continues to tank?
 
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IrishRazor82

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So what is everybody's feel on this? Does the bottom continue to drop completely out, or are we near some sort of floor where it might be a decent buy opportunity?
I cashed out on LINK a few weeks ago at about $45, so seeing it back down in the $15-17 range right now is pretty tempting.

Does anybody think this whole market just continues to tank?

I'm no expert but I don't. I think it's a great buying opportunity (I just bought $200 more ADA and XLM). Look at the long term graphs, they typically go up and mirror what the stock market was back in the 70s or whenever it was, where people were also hesitant. I am pretty worried I'll regret not putting more in but I also entered at some not so ideal price points so I need to cool it a bit.
 

PerthDomer

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I'm no expert but I don't. I think it's a great buying opportunity (I just bought $200 more ADA and XLM). Look at the long term graphs, they typically go up and mirror what the stock market was back in the 70s or whenever it was, where people were also hesitant. I am pretty worried I'll regret not putting more in but I also entered at some not so ideal price points so I need to cool it a bit.

Why would I buy a valueless commodity over ownership of a company with tangible value via the stock market? Get out of the Tulip market while you can.
 

Wild Bill

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Why would I buy a valueless commodity over ownership of a company with tangible value via the stock market? Get out of the Tulip market while you can.

I bought some valuableless commodities and sold them ten days later for a 90% gain. I took the gain and reinsvested it in some other valuableless commodiites. I'm up about 10% after this pullback. Maybe it continues to collapse, maybe it won't.

I tend to agree with you that this all appears to be inherently valueless, but our financial system is so perverse that inherent value is rendered somewhat meaningless. Fiat money is backed by nothing and individual stock prices have less to do with the inherent value of a corporation than we like to believe.

I assure you some guys were sitting around in the late 1700s drinking beers and talking about the stock market being a scam while others accepted it and invested. Those guys were probably right and they died with far less money than the people who invested into the scam.
 
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IrishLax

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I should've bought back in on the mega-dip, Chainlink back up to $30. Would be interesting if we've found a new crypto "floor."
 

Wild Bill

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I should've bought back in on the mega-dip, Chainlink back up to $30. Would be interesting if we've found a new crypto "floor."

I got lucky and bought at the bottom. Wasn't much but buying the bottom always feels good.

I don't think we found a new floor.

Look at the highs and lows for bitcoin from 2017- 2020. There are some steep selloffs. I think it was close to 80% in late 2017 or early 2018. Who the hell knows if that's relevant or not but I'm trading on the assumption that the floor is much lower. If not, I would have pushed my chips into the middle of the table last week.
 

Wild Bill

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Hard to give suggestions b/c I'm certainly not an expert and I'm comfortable with more risk than most but I'm fine with sharing what I own right now and you can go from there.

Chainlink, bitcoin and nucypher.

I've held all three for a little while and haven't bought much more recently. A bit of chainlink when it was in the low 30s and a bit of nucypher when it was in the low .40s.

Bitcoin over $60k again and nucypher up 330% today. Not bad.
 

RDU Irish

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Bitcoin over $60k again and nucypher up 330% today. Not bad.

I am glad I noticed and dumped my $5 of Nucypher at $1.50 for $41 - finally one of my $5 shitcoins paid off! Coinbase just giving away $82 of crypto since signing up for free.

Sure is fun to watch - I don't know how anyone tolerates having any significant amount of money in this crap though.
 

NDFAN420

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Why would I buy a valueless commodity over ownership of a company with tangible value via the stock market? Get out of the Tulip market while you can.

Because how else does a normal person get to compete against/invest in drug cartels, pedophiles, and Russian & N. Korean intelligence all at the same time? You tell me :)

I mean besides Vegas.
 

Wild Bill

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I am glad I noticed and dumped my $5 of Nucypher at $1.50 for $41 - finally one of my $5 shitcoins paid off! Coinbase just giving away $82 of crypto since signing up for free.

Sure is fun to watch - I don't know how anyone tolerates having any significant amount of money in this crap though.

Anyone with balls of steel can do it.
 

Te'o4Heisman

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Has anyone dabbled in programs like Gemini’s warn program? Gemini dollar at 8% interest, compounding and paying daily seems enticing, but I honestly dont know or understand enough about them. It almost seems if I am reading correctly like they are loaning your money out with an 8% interest return to you, but what I cant figure out is how insured or not your money is. Im a little confused by the language in their explanations of a few areas of the program.
was hoping somebody with experience or a better understanding could help me out. Sure as hell beats a leas than 1% rate on savings I am getting with Ally online right now which still blows away a wells fargo, bank of america, etc.
 

Wild Bill

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Has anyone dabbled in programs like Gemini’s warn program? Gemini dollar at 8% interest, compounding and paying daily seems enticing, but I honestly dont know or understand enough about them. It almost seems if I am reading correctly like they are loaning your money out with an 8% interest return to you, but what I cant figure out is how insured or not your money is. Im a little confused by the language in their explanations of a few areas of the program.
was hoping somebody with experience or a better understanding could help me out. Sure as hell beats a leas than 1% rate on savings I am getting with Ally online right now which still blows away a wells fargo, bank of america, etc.

It's not a savings account at all and there is no insurance involved. You're basically playing the role as lender of unsecured loans and that comes with quite a bit of risk. How much risk is the question. Is it more risk that buying AT&T and taking an 8% dividend or investing in an index that should get 8% over the course of several years? Probably.
 

NDFAN420

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Has anyone dabbled in programs like Gemini’s warn program? Gemini dollar at 8% interest, compounding and paying daily seems enticing, but I honestly dont know or understand enough about them. It almost seems if I am reading correctly like they are loaning your money out with an 8% interest return to you, but what I cant figure out is how insured or not your money is. Im a little confused by the language in their explanations of a few areas of the program.
was hoping somebody with experience or a better understanding could help me out. Sure as hell beats a leas than 1% rate on savings I am getting with Ally online right now which still blows away a wells fargo, bank of america, etc.

You earn interest on your crypto + the appreciation of the coin itself, sort of like double dipping. It's backed by the Winklevoss twins from whom Zuckerberg stole Facebook, they then took a huge bet on Bitcoin about 10 years ago and brought cryto mainstream (short story).
 

Trait Expectations

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Alright fellas, I'm not crypto savvy at all. I'm not going big because I don't understand it and my favorite investors view it as complete vaporware. I'm sure many on here have strong opinions on guys like Buffett and Munger, etc.

I'm tempted enough to gamble and do it as a form of entertainment rather than wealth generation or capital preservation. Where are you guys reading about the various types? Are your picks based on the fundamentals of the coin or is it more of a heat map based on popularity/social media mentions and potential acceleration?
 

GoldenToTheGrave

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You earn interest on your crypto + the appreciation of the coin itself, sort of like double dipping. It's backed by the Winklevoss twins from whom Zuckerberg stole Facebook, they then took a huge bet on Bitcoin about 10 years ago and brought cryto mainstream (short story).

I'm long Luna pretty big, got in at $19 back in August, it's been riding between $85-$100 the past week. Luna works in tandem with it's stablecoins UST, which works by as the demand for UST goes up, they burn Luna to keep it stable.

My conviction on Luna/UST is that Tether (USDT) stablecoin is a huge scam Ponzi scheme, and I believe UST will take market share. Unfortunately you can't buy Luna on coinbase but it's available on Binance/KuCoin. Good staking rewards too.
 

Te'o4Heisman

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So whats everybody doing these days? Have most of you sold off or looking to stay long and ride this thing out with hopes that we’re just looking at another dip on a macro level?
 
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