Official Bitcoin Thread

7,152
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Joined Aug 19, 2015
gotta put it somewhere.

or leave it in dirty fiat and have it lose 20% annually while you "earn" .004% APY. this is just math.

some people do have fun staying poor.
What is all this yield farming going on? I'm seeing people get crazy returns... is that just like the ICO craze pump and dumps or what is going on?
 
2,770
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Joined Jul 29, 2012
this thread is going to look very different in a few months. always easy to run into a position that's already exploding. where will you be during the sell offs? during the consolidation? if you think this is and always will be easy, go look at how growth stocks have been acting in 2021 vs 2020. crypto WILL follow that trend eventually. and those of you who are late, reckless, shortsighted, with poor perspective will get murdered. AVOID being that person in the future, make a plan and execute your process. this ride is closer to the end than the start.
Just wanted to reiterate this. The highs are really high in Crypto and can bring great returns/riches. But, the market is extremely volatile and the lows are EXTREMELY LOW.

Took this from wikipedia: October 2017, and the price of Bitcoin fell below $4,000, representing an 80 percent decline from its peak the previous January. Bitcoin reached a low of around $3,100 in December 2018. From 8 March to 12 March 2020, the price of Bitcoin fell by 30 percent from $8,901 to $6,206.

We're talking 80% declines in a couple months, 30% declines in DAYS.

Get your returns, get your $.

Just know the cryptocurrency space can turn sideways real quick. People defend that the crash won't happen again like before because the market cap and space is bigger, it's more mainstream etc. To me, that means a lot more people in it for the quick buck, soft hands that are OUT as soon as they're not getting their returns. This isn't going to lessen the blow of a crash, it's going to increase the crash.
 
11,873
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Joined Apr 29, 2007
That 7% apy for dai on Gemini is fire. I need to convince my wife to let us do that with our excess cash
It's 10% on Stablecoins in Celsius if you really wanna maximize your returns on stable currency. I introduce a lot of people to the world of crypto this way.

I'm heavy on alts etc but I can personally attest to making over 1K in interest via Stablecoins in under a year by just holding it in crypto instead of fiat.
 
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I wonder if there's a term or something for the people (me, and a lot of my friends) who rode the crypto roller coaster from 2017 to 2018 and got so turned off by it...and now are bitterly trying to login to our binance accounts to figure out what the hell is going on

i'm not gonna lie i'm still turned off by it but that was my wife last night, trying to get back into her binance, and she's been hinting at wanting to buy cyrpto again for a couple months i guess. it does kind of resemble the times back then when you couldn't miss on anything, everyone was like "oh damn i'm late" + "no its so early"

I was in pretty much same position man, was heavily invested in alts and bought essentially everything at the peak of the last bull market. Only difference is I kept my eye on the market and I dipped my toe back in the pool by buying a bitcoin when it tanked. That got me back in once I saw the returns. I'm pretty sure a lot of folks fall into this category as well since the market was so new in 2017, alot of folks outside of the most hardcore crypto guys were noobs. But my advice would be get back in man. Like everyone else has said, don't FOMO in too hard right now, because there's no telling when it'll dump again, but research, learn the space and invest what you feel comfortable with.

Also you should look at this like a positive, you've already seen how bad it can get when the market tanks, and now you're seeing with your own eyes how crazy it can bounce back. Use that experience as a teaching moment and have investment and exit strategies ready when you go in again. And now you'll know from firsthand experience not to get caught up in the hype, invest wisely and you can win.

And I'll leave you with this, like a month ago I actually made a table to determine what DCAing biweekly into BTC, ETH, ADA and LTC from around the bottom of the bear market (Nov 2018 ) to the current moment would have done. Set it and forget it type investment. Long story short, as of today you would would have made 1222.55% return on your investment. Whether your total investment over that time was $2000, $20k or $200k, you'd have 12x what you put in. Think about that. That's paying off your house money, trust fund for the kids money, maybe even retirement money depending on how much you put in. I can't think of another investment that would've done that in the last 2 years, and if anybody else can, let me know so I can research it. So yeah, after I did the math I realized that with the opportunity for gains on a long term play, as well as the moonshots like BNB that you could've bought for almost nothing a year ago during the bear market, you're basically ****in up if you're not at least dipping your toe in the pool. I'll leave the link to the table here and good luck investing in the future.

Crypto DCA Calculations (11/28/18-5/4/21)
 
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4,807
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Joined Dec 7, 2004
I was in and out of $DOGE mainly to participate in the pump/dumps. I tried to make myself believe it could have a value of some sort but I couldn't find anything to make it stick. Elon's trolling made it worse for me so I told myself I'm staying out. Now this junk is at $0.57. It is getting so much publicity its nuts coming from a coin that was supposed to be a joke lol. Now Elon will be on SNL this weekend on national television pumping the coin. $DOGE hitting $1 is what its community is rallying for and I believe it will now. Those that got in below $0.50 and still holding will at least double your money. Even if you get in before $0.60, that's still 40% gains if holding to $1. I would say to all to go get that bread but be careful because once this hits $1 and eventually I think it will, its going to come crashing down.
 
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Joined Sep 27, 2003
I was in and out of $DOGE mainly to participate in the pump/dumps. I tried to make myself believe it could have a value of some sort but I couldn't find anything to make it stick. Elon's trolling made it worse for me so I told myself I'm staying out. Now this junk is at $0.57. It is getting so much publicity its nuts coming from a coin that was supposed to be a joke lol. Now Elon will be on SNL this weekend on national television pumping the coin. $DOGE hitting $1 is what its community is rallying for and I believe it will now. Those that got in below $0.50 and still holding will at least double your money. Even if you get in before $0.60, that's still 40% gains if holding to $1. I would say to all to go get that bread but be careful because once this hits $1 and eventually I think it will, its going to come crashing down.
could happen. Could also see a dump off Saturday. Who knows, but probably just do the opposite of what I think about Doge.
 

stuntman mike

Supporter
14,144
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Joined Aug 5, 2007
now that i jumped into the pool and started doing research AFTER i dove in, i’m starting to realize that i have no goals for my portfolio and certainly no plan except for HODL and zero strategy. if my alts somehow make money, i guess i’ll eventually shave profits and throw more into ETH and/or BTC. for the past week or so i’ve been feeling like a jeenyus as i watch things grow but i now know i’m a moran. i’m so glad my wife is in control of our finances 😂

btw the money i put in is disposable income. not insignificant (for me) but it’s money i can totally lose.
 

ICE CITY CF

Supporter
1,217
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Joined Mar 29, 2020
how safe is that?

There's obviously an element of risk but the intended purpose of Anchor is to serve as a true interest earning savings account and a superior replacement of the traditional bank account.

I guess that means it behooves Terra for people's funds to be as safe as possible.
 
11,680
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how safe is that?
It's not something where the creators will run away with your money. But obviously if there's a problem in the coding, an unforeseen circumstance that the developers never accounted for, etc, is where the risk comes into play.

EDIT: This guy goes pretty in-depth-
As always DYOR.
 
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11,680
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Joined Mar 30, 2004
isn't USDT riskier than USDC due to tether's "issues"
I believe Tether eased a lot of the concerns regarding them recently (don't quote me on that)... USDT is now available on Coinbase if that means anything.

If you mentioned USDT in reaction to Anchor- Anchor uses UST, not USDT. Confusing I know :lol:. UST is an algorithmically pegged stablecoin. USDT is supposedly backed by real US dollars- lots of people doubt this which is where the FUD comes in.

 
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Joined Apr 28, 2020
Don't think those interest rates for stables will be there in the bear market but def eat now. At least even in the bear they will be better than your savings bank account.
 
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