Official Bitcoin Thread

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Today we’re thrilled to announce that after months of careful research and consideration, Unstoppable Domains will soon be moving to Polygon as our layer 2 (L2) scaling solution. This will allow us to make our NFT domains free to claim and manage on L2 starting on November 15th, 2021 with $0 gas fees for transactions on L2.

This decision brings us one step closer to fulfilling our mission to onboard three billion people to the decentralized web by making NFT domains more accessible for everyone. We’ve long believed that NFTs should be about ownership, not subscriptions, and accessible for all, which is why we’ve never charged our customers renewal fees for their domains. Soon, by joining Polygon, all gas fees for Unstoppable Domains users will also be covered on Polygon’s full-stack scaling solution. This means that Unstoppable Domains customers will be able to buy NFT Domains and make updates to domains without having to pay claim fees, renewal fees, or gas fees on L2.

When picking a technology to build on top of, we consider two primary things - cost of transactions and how easy it is for apps to support. Both are important for a successful naming system. With fees 1000x cheaper than Ethereum and with wide support from wallets, dapps, and exchanges, we believe that building on Polygon will provide the best experience to our customers today.

By using Polygon instead of Ethereum, the average customer will save $165+ in gas fees per year, per domain (assuming you do 10 transactions per year on your domain using average gas prices for 2020). And if the price of gas on ethereum goes up higher you’d potentially save even more.
 
No... I hate LOSING money on stupid gas fees. I'm no throwing money away.
This is the beauty of web3. Complete permissionless freedom. Bridging fees suck but if a coin is on a network with a native token that you can buy from a CEX, just buy the token and send it to that network and swap for what you want. Fees outside of eth are nonexistent.
 
This question has probably been answered before, but I wanted to get NT’s opinion.

If I have say, $100,000 in BTC/ETH, what is the safest way to store it? A cold wallet makes me nervous, and I’m definitely not keeping a significant amount on Coinbase.
 
This question has probably been answered before, but I wanted to get NT’s opinion.

If I have say, $100,000 in BTC/ETH, what is the safest way to store it? A cold wallet makes me nervous, and I’m definitely not keeping a significant amount on Coinbase.

But why not? I've just seen many a story of wallet getting hacked because someone clicked a link they should have known not to or entering their seeds words on a fishy website thinking it was legit

Also you can't stake your ETH if its in a wallet
 
What are your favorite places to yield farm on there?
I keep it simple and just stick with QuickSwap.

I provide liquidity on pairs that have boosted dQUICK rewards as well as the dual-farm LPs, and then stake those LP tokens to farm dQUICK. dQUICK is essentially staked, interest bearing (fee-earning) QUICK. They just started rewarding in that vs regular QUICK a few weeks ago. QUICK staking apy varies but it's often anywhere from 20-50%.

I then re-stake that dQUICK into the "Dragon's Syrup" pools to farm other coins. There are a few solid coins in the syrup pools. I've farmed a bunch of TEL and more recently EROWAN.
 
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This question has probably been answered before, but I wanted to get NT’s opinion.

If I have say, $100,000 in BTC/ETH, what is the safest way to store it? A cold wallet makes me nervous, and I’m definitely not keeping a significant amount on Coinbase.

Just buy a few Yubi Keys and keep them in a sentry safe or something.

Amazon product ASIN B07HBD71HL
 

The Commodity Futures Trading Commission on Friday filed and settled charges with Tether Holdings Ltd. for misleading customers about the quality of the reserves that back its stablecoin, Tether, USDTUSD, -0.04% while also fining associated crypto exchange Bitfinex for operating as an unregistered futures commission merchant.

The CFTC said in a press release that Tether misrepresented the stablecoin when it claimed that the token was “100% backed by” fiat currency assets, including U.S. dollars DXY, -0.47% and euros. “In fact Tether reserves were not fully backed the majority of the time,” the CFTC said. The agency found that Tether only held sufficient reserves of dollars to back outstanding tether tokens 27.6% of the days during a 26-month sample between 2016 and 2018.

“Instead of holding all USDT token reserves in U.S. dollars as represented, Tether relied upon unregulated entities and certain third parties to hold funds comprising the reserves; commingled reserve funds with Bitfinex’s operational and customer funds; and held reserves in non-fiat financial products,” the CFTC said. The commodities regulator also noted that Tether failed to complete routine, professional audits of its reserves.
 
I keep it simple and just stick with QuickSwap.

I provide liquidity on pairs that have boosted dQUICK rewards as well as the dual-farm LPs, and then stake those LP tokens to farm dQUICK. dQUICK is essentially staked, interest bearing (fee-earning) QUICK. They just started rewarding in that vs regular QUICK a few weeks ago. QUICK staking apy varies but it's often anywhere from 20-50%.

I then re-stake that dQUICK into the "Dragon's Syrup" pools to farm other coins. There are a few solid coins in the syrup pools. I've farmed a bunch of TEL and more recently EROWAN.

I'm in:

- balancer poly version
- mai finance - use their vaults and take safe loan put it into aave poly
- aave poly

All above giving rewards/incentivies in wmatic/matic/bal

This one on balancer is giving great APY/LM incentive, and the coins in this bucket are solid:

2021-10-28 10_02_35-Balancer.png
 
But why not? I've just seen many a story of wallet getting hacked because someone clicked a link they should have known not to or entering their seeds words on a fishy website thinking it was legit

Also you can't stake your ETH if its in a wallet
You can interact with the Lido.Fi liquid staking contract straight from Ledger Live and earn staking rewards as long as you are ok with the smart contract risk.
 
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