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  1. #6351
    Join Date
    Dec 2002
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    Can I borrow $37?

  2. #6352
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    Feb 2005
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    17,128
    There are ventures trying to tackle de-fi woes:

    https://elk.finance/
    Is it radix panax notoginseng? - splat

  3. #6353
    Join Date
    Feb 2005
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    Quote Originally Posted by LeeLau View Post
    Rotated the more recent ETH from the Omicron induced general market swoon back into BTC.
    Are you just trying to lock in your gains, or are you investing? Pull up a ETH/BTC chart for the last 5 years.
    Is it radix panax notoginseng? - splat

  4. #6354
    Join Date
    Feb 2005
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    Quote Originally Posted by MakersTeleMark View Post
    Are you just trying to lock in your gains, or are you investing? Pull up a ETH/BTC chart for the last 5 years.
    Lock in short term gains. I'm 2 :1 BTC to ETH viewing BTC as "boomer coin" and as a proxy for USD. My stablecoin if you will.

    Am also quite exposed to ETH via zkrollups + lots of aggressive plays via DAO and token offerings. So this is almost port rebalancing

    Basically I now view BTC as the boomer grandpa asset in my portfolio, altcoins in the Yolo category. I haven't quite made up my mind in what category I slot ETH

  5. #6355
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    Feb 2005
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    Quote Originally Posted by LeeLau View Post
    Lock in short term gains. I'm 2 :1 BTC to ETH viewing BTC as "boomer coin" and as a proxy for USD. My stablecoin if you will.

    Am also quite exposed to ETH via zkrollups + lots of aggressive plays via DAO and token offerings. So this is almost port rebalancing

    Basically I now view BTC as the boomer grandpa asset in my portfolio, altcoins in the Yolo category. I haven't quite made up my mind in what category I slot ETH
    ETH is solidly Gen X.
    Is it radix panax notoginseng? - splat

  6. #6356
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    Feb 2005
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    Quote Originally Posted by MakersTeleMark View Post
    ETH is solidly Gen X.
    Yup and I'm GenX. But Canada has ETH ETFs so my exposure is tax free. I've got some thinking to do

  7. #6357
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    Feb 2005
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    17,128
    Here's some thoughts on ETH:



    Is it radix panax notoginseng? - splat

  8. #6358
    Join Date
    Dec 2008
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    PDX
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    I like ETH for number-go-up, but the user experience is just horrible.

    https://www.youtube.com/watch?v=unMnAVAGIp0&t=2s

  9. #6359
    Join Date
    Feb 2005
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    Quote Originally Posted by stalefish3169 View Post
    I like ETH for number-go-up, but the user experience is just horrible.

    https://www.youtube.com/watch?v=unMnAVAGIp0&t=2s
    Depends on what kind of user you are.
    Is it radix panax notoginseng? - splat

  10. #6360
    Join Date
    Dec 2005
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    8,125
    People use crypto?

  11. #6361
    Join Date
    Dec 2008
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    Quote Originally Posted by MakersTeleMark View Post
    Depends on what kind of user you are.
    That's very true. Whales dgaf about $100 gas to wash trade apes. But ETH is basically unusable for everyone else. The ETH crowd will claim fees need to be high for decentralization, but ETH is arguably very centralized due to its reliance on Infura. ...among other things. ETH 2 has always been "right around the corner" for as long as I've been in crypto (since 2017). And I don't really see the advantage of using ETH rollups/layer 2s when other layer 1s have much better scalability.

  12. #6362
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    Feb 2005
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    I'd say that ETH, ETH layer 2 and DeFi generally is horribly unuseable. But that's why the returns in crypto and the altcoins, alternate chains etc are so eye-popping. You're buying lottery tickets with potentially moonshot returns and significant go to zero chances; and being rewarded for that risk.

  13. #6363
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    Feb 2005
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    Quote Originally Posted by bennymac View Post
    People use crypto?
    It actually is being used for money transfers in some Central American countries by people I know in lieu of remittances with quite a significant cost savings.

  14. #6364
    Join Date
    Dec 2005
    Posts
    8,125
    Yeah I'm just being a smartass - like asking if LOTS is still open for biking.

    That^ aspect of crypto is a positive one for sure.

    But seriously - is LOTS still open?

  15. #6365
    Join Date
    Dec 2012
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    I can still smell Poutine.
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    Quote Originally Posted by MakersTeleMark View Post
    Shitcoins, fascinating little beasts.
    Shit birds Randy, Shit birds.

  16. #6366
    Join Date
    Dec 2004
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    Where the sheets have no stains
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    18,210
    Quote Originally Posted by LeeLau View Post
    It actually is being used for money transfers in some Central American countries by people I know in lieu of remittances with quite a significant cost savings.
    So there IS a use for these things besides day trading to make big bucks.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

    "Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"

  17. #6367
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    Jan 2008
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    Click image for larger version. 

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  18. #6368
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    Feb 2005
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    Quote Originally Posted by Bunion 2020 View Post
    So there IS a use for these things besides day trading to make big bucks.
    The person I knew were sending approx 1200 per month to their family around Antigua. Western Union previously would take approx $80. Moneygram was a little more - 100? I can't remember what crypto they were using but their fees are a little over $ 1 per send. That savings goes a long way in Guatemala

  19. #6369
    Join Date
    Jan 2009
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    1,885
    Is this the place to talk about NFTs? I have no fucking clue what they are but I've been in a queue for 2 days to buy some Matrix ones. Says I have 34 minutes left to wait, it's like the Vail reservations last fall!

    67,369/100k minted so far, 8975 ahead of me in line. Hope I get some.

    Apparently they are pictures of matrix randos, and on December 16 you can take a red or blue pill to reveal your true self. Yeah I don't know either, but I do know people pay a shitton of money for fortnite pants in-game so why not. Plus the guy who told me about this is batting about .900 on his crypto moves.

    Anyone know what else these avatars are good for, other than showing up on a computer screen in a collection of some sort?

  20. #6370
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    Quote Originally Posted by paulster2626 View Post
    Is this the place to talk about NFTs? I have no fucking clue what they are but I've been in a queue for 2 days to buy some Matrix ones. Says I have 34 minutes left to wait, it's like the Vail reservations last fall!

    67,369/100k minted so far, 8975 ahead of me in line. Hope I get some.

    Apparently they are pictures of matrix randos, and on December 16 you can take a red or blue pill to reveal your true self. Yeah I don't know either, but I do know people pay a shitton of money for fortnite pants in-game so why not. Plus the guy who told me about this is batting about .900 on his crypto moves.

    Anyone know what else these avatars are good for, other than showing up on a computer screen in a collection of some sort?
    Haven't been following that one but looks like it's getting a lot of hype. With mint numbers that high a lot of them are probably going to zero. But some people will get lucky with rares. Guessing the strategy would be go hard and try to flip early and be prepared to not make anything.

    Sent from my Pixel 6 Pro using Tapatalk

  21. #6371
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    Feb 2005
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    17,128
    NFT's are for real estate, titles, domains of sort, reputations, identities, professional/educational credits, not fucking jpegs. I could maybe see in-game earned attributes, but the rest is just crap. Just my take.

    Also, if you have a local bitcoins offramp, it's a popular service, or a kiosk in your country, sending some usdc will put all remittance services right out of business.
    Is it radix panax notoginseng? - splat

  22. #6372
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    I'm big on utility NFTs. For now this means mostly gaming NFTs and NFTs that earn yields, but eventually could be many things such as real estate deeds. Much less bullish on pure art and collectables.

  23. #6373
    Join Date
    Apr 2008
    Location
    Treading Water
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    5,840

    Bitcoin....who's gotten into it?

    Quote Originally Posted by LeeLau View Post
    The person I knew were sending approx 1200 per month to their family around Antigua. Western Union previously would take approx $80. Moneygram was a little more - 100? I can't remember what crypto they were using but their fees are a little over $ 1 per send. That savings goes a long way in Guatemala
    I think thatís a really fascinating and compelling topic in crypto. But canít get away from also thinking that for every $1,200 being sent for an objective reason, thereís $120M betting on a trifecta.


    Sent from my iPhone using TGR Forums
    Lots of Cream, Lots of Sugar

  24. #6374
    Join Date
    Jan 2009
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    1,885
    Quote Originally Posted by stalefish3169 View Post
    Haven't been following that one but looks like it's getting a lot of hype. With mint numbers that high a lot of them are probably going to zero. But some people will get lucky with rares. Guessing the strategy would be go hard and try to flip early and be prepared to not make anything.

    Sent from my Pixel 6 Pro using Tapatalk
    It's just $250 so I don't really care. Way I figure it's a good way to learn how these things work and get moved around.

  25. #6375
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    Dec 2008
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    Quote Originally Posted by paulster2626 View Post
    It's just $250 so I don't really care. Way I figure it's a good way to learn how these things work and get moved around.
    Yeah. That's a good way to look at it. But you can also learn how they work for a lot less if it matters. One piece of advice, the tax implications can be a real pain in the ass once you start dealing with packs and bunches of NFTs. Definitely recommend keeping detailed notes of any sales and avoiding small value transactions that aren't worth the trouble of tax reporting.

    Sent from my Pixel 6 Pro using Tapatalk

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