Official BGOL Crypto Currency Thread ★★★★★

[tpotda]

is there a difference between the stablecoins, like usdc, tether, and dai?

Good job taking profits!!!

You got your "Big Boy Pants" on buying XRP in this environment. Impressive! I'll be rooting for your bags to PUMP!!!

The cash from the .08 would serve you better on a platform that pays you real interest 8% to 12% at a minimum... (check rates at Blockfi, Celsius, Nexo, etc.)

I too think there is going to be a major correction in the stock market in the next few months (hopefully after April...) however, at some point in the near future crypto will decouple from the stock market. Might be the next stock market crash or maybe the suubsequent one but soon when the stock market crashes, crypto will go balistic!!! (IMHO)

Good Practice: Keep 5% to 10% of one's portfolio value in stable coins earning (10X to 100X bank interest) to take advantage of lower prices.

I'm dollar cost averaging into "Little Brother ALTs" now even while some of these projects pump. I'm mainly buying into ETH even though it's above ATH... I see ETH following BTC's path last bull cycle. I'd be suprised if ETH does not peak above $20k this bull run.

Actually utility is not really a couple of years down the road it is here now. Last bull run was propelled by speculation on white paper promises and hopes for a functioning blockchain. This bull run projects have actual working platforms that are returning profits, providing real services and bringing real value propositions.

The foundation for life changing wealth a couple of years down the road is laid right now through sound risk management, proper portfolio allocation and sound profit taking strategies.

One may be willing to hodl until main stream adoption happens (utility is already here) for the big pay day but why hodl through another 50% to 90% drop?


Why not trim some profits on projects that are way up right now and redeploy that value into some project that has yet to pop?

Why not put some of those profits in stablecoins to earn some interest along the way?

Wouldn't it be nice to have some "bull run funds" to deploy when the market turns from bull to bear?

I am working change my life with crypto because, in my mind, by doing that, life changing wealth with (hard) money will follow...

As always DYOR

 

[T.H.E. Brew$er]

You think it's better to allocate more funds toward these lenders like celsius and nexo or the defi coins right now? Only defi coins i currently hold besides Eth are Link, SNX and AAVE

When you say "better to allocate more funds toward these lenders" I will presume you mean putting funds into the actual platform token.

Look at it like this, hundred billion dollar coins multiply (double in dollar price) slower than ten billion dollar coins. Smaller the market cap easier it is to double in price.

ETH $202B
LINK $11B
AAVE $6B
SNX $2B
CEL $1.4B
NEXO $888M

Defi coins are HOT right now but most people won't use Defi right now because the gas fees are too high. A simple staking operation, interacting with only one contract, wanted $600+ as the transaction fee. Too rich for my blood right now...

But, I can get 14% depositing SNX on Celsius and only pay the $10 to $20 transaction fee to move the tokens across the network...

The goal of Celsius is to onboard 100M people, they have maybe 500K now. If they only get 10M people what could that do to their $1.4B market cap?

Look at the use cases for a project. Look at market penetration for the project. Look at the market cap. Determine the probability of that market cap will double, 5X, 10X, etc. Then decide where to best allocate one's funds...

As always DYOR...

PS

Of the above coins, I would allocate percentage wise 50, 20, 10, 5, 5, 5 with 5 in USDT; Taking half to profit on a double; DCA on dips...

 

[tpotda]

so i should transfer xrp, xlm, and link to nexo and take the interest in nexo tokens? SNX and AAVE transfer to celsius?

When you say "better to allocate more funds toward these lenders" I will presume you mean putting funds into the actual platform token.

Look at it like this, hundred billion dollar coins multiply (double in dollar price) slower than ten billion dollar coins. Smaller the market cap easier it is to double in price.

ETH $202B
LINK $11B
AAVE $6B
SNX $2B
CEL $1.4B
NEXO $888M

Defi coins are HOT right now but most people won't use Defi right now because the gas fees are too high. A simple staking operation, interacting with only one contract, wanted $600+ as the transaction fee. Too rich for my blood right now...

But, I can get 14% depositing SNX on Celsius and only pay the $10 to $20 transaction fee to move the tokens across the network...

The goal of Celsius is to onboard 100M people, they have maybe 500K now. If they only get 10M people what could that do to their $1.4B market cap?

Look at the use cases for a project. Look at market penetration for the project. Look at the market cap. Determine the probability of that market cap will double, 5X, 10X, etc. Then decide where to best allocate one's funds...

As always DYOR...

PS

Of the above coins, I would allocate percentage wise 50, 20, 10, 5, 5, 5 with 5 in USDT; Taking half to profit on a double; DCA on dips...

 

[gene cisco]

I sold .25 BTC at 31k and .08 BTC at 34k. I bought 29k XRP with the .25 and kept the cash from the .08. The cash is sitting on coinbase pro. I think we are going to see a major correction in the stock market in the next few months that will also affect the crypto market. So I'm trying to have some cash on hand to take advantage of lower prices. I'm not buying right now while everything is pumping to all time highs. I have no plans to liquidate all my crypto for USD as I feel the dollar is on the decline. So I'm really looking a couple of years down the road for the big pay day when actually utility kicks in for some of these blockchain projects. I'm looking for life changing money, not 50k or 100k so I'm willing to hodl until that happens.

That's how I feel. Unlike 2017, I now know that corrections are a healthy part of bullruns. I don't fear them. This the 3rd cycle with BTC for me. No need for the market to say more. I'm going to KEEP some BTC. Keep a few eth too. Buy the bear.

I think this cycle is unique in that we are in the sweet spot for speculation/utility. 2017 was all about speculation. 2024/25 will be bluechip utility in a much more mature space. This market already has SOME with proven utility dealing with billions of dollars. The speculation is will that utility expand to trillions. By 2024/25, the picture will be set for the most part.

Like you said, I'm in it for the long run. Compared to what's in the world, barely any fucking money in Crypto. This the long game now.

 

[roblo]

so i should transfer xrp, xlm, and link to nexo and take the interest in nexo tokens? SNX and AAVE transfer to celsius?

I have 40k XRP in my Nexo account, I get about 6 XRP per day in interest. They won't let U.S. customers get the interest in Nexo tokens yet due to regulatory issues.

 

[xxxbishopxxx]

I have 40k XRP in my Nexo account, I get about 6 XRP per day in interest. They won't let U.S. customers get the interest in Nexo tokens yet due to regulatory issues.

where did you hear about the issues with the tokens? I didn't see anything on the website. Not doubting you, I'm just trying to figure out how to best use the service. I moved my Tron over to them and was planning to move some other tokens over there at some point.

 

[roblo]

where did you hear about the issues with the tokens? I didn't see anything on the website. Not doubting you, I'm just trying to figure out how to best use the service. I moved my Tron over to them and was planning to move some other tokens over there at some point.

When you try to select the option for the earning interest in Nexo, you get a message saying it's not available for U.S. customers. You can still buy the Nexo token though. You get a better interest rate if you hold a certain percentage of your total account in Nexo tokens.

 

[T.H.E. Brew$er]

is there a difference between the stablecoins, like usdc, tether, and dai?

Tether carries a lot of counter party risk. The company backing it is currently under investigation in NY for suspect business practices. Tether's connections to Bitmex does not help. But, the world trusts Tether despite the fact it is not fully backed or audited regularly.
I personally only hold Tether for transactions and futures trading.

The company behind USDC is a little more trusted and regularly audited (I believe) however USDC can be frozen at the issuer's whim (read they get a report that you are a bad guy along with a request to freeze the funds in your wallet).

DAI is over collateralized so it's value is not the issue. Only issue I have had with it is it can be a little more expensive to move across the network.

DYOR...

 

[T.H.E. Brew$er]

Who's taking profits? Who's scared to take profit thinking their coin or token will just keep running? Do you have a profit taking strategy you can share with us? Or are you hodling like a muthafucka?

Easy way to ensure you take profits.

When a project doubles from your initial investment, sell half and get the initial investment back.

Now you have a "Moon Bag' (FREE POSITION) and your profits are locked in.

Good Practice: When selling the Moon Bag, sell 50% to BTC, 20% to ETH, 15% Stablecoins, 15% to ALT coins.

DYOR...

 

[Walter Panov]

Yo, Waltonchain is getting some life . Yes Waltonchain. That coin we all bought back in 2017 for cheap. I'm still holding that bag and I think I just broke even.

 

[Aww Skeet Skeet!]

$ZIL is on a run. The 2017 bag I was holding is now in the green.

 

[monsterman]

Watch those quiet ones:
$QNT
$ALGO
$RLC
$CXO
$KLAY

Algorand (ALGO) $ 1.69
CargoX (CXO) $0.098902

 

[RoomService]

$ZIL is on a run. The 2017 bag I was holding is now in the green.

did you switch from the erc20 token?

Tether carries a lot of counter party risk. The company backing it is currently under investigation in NY for suspect business practices. Tether's connections to Bitmex does not help. But, the world trusts Tether despite the fact it is not fully backed or audited regularly.
I personally only hold Tether for transactions and futures trading.

The company behind USDC is a little more trusted and regularly audited (I believe) however USDC can be frozen at the issuer's whim (read they get a report that you are a bad guy along with a request to freeze the funds in your wallet).

DAI is over collateralized so it's value is not the issue. Only issue I have had with it is it can be a little more expensive to move across the network.

DYOR...

Tether has been under investigation since 2017... I don't use tether at all

 

[Aww Skeet Skeet!]

did you switch from the erc20 token?

Still waiting...They said towards the end of Q1. I just hope like hell $ZIL holds up and that the swap is 1:1.

 

[RoomService]

Still waiting...They said towards the end of Q1. I just hope like hell $ZIL holds up and that the swap is 1:1.

I remember February 15 of 2020 being the deadline to swap tokens. I hope things work out for you.

 

[tical]

How is it that this thread as this much post. But yet the investing/stock thread fails in comparison? What am i missing here?

 

[Mrfreddygoodbud]

How is it that this thread as this much post. But yet the investing/stock thread fails in comparison? What am i missing here?

bigger gains being flipped... bruh a "common" dude making thousands a day, waay more common

in the blockchain universe, then on the wallstreets of the world...

 

[APOPHIS]

Travala (AVA) reached a new ATH today at $2:45. It's up 50%+ this week alone.

Project update:
The migration from Neo to Binance Chain will be a full migration. This means that AVA (Nep5) will be completely replaced by AVA (Bep2) on a 1:1 ratio.

This migration to BEP-2 will be huge. This may allow for staking thru the Binance platform as well as a host of other capabilities. I've been very bullish on this project as it's the most notable travel blockchain coin on the market. My mid to long term outlook for this coin is $10+ minimum by year's end.

 

[APOPHIS]

bigger gains being flipped... bruh a "common" dude making thousands a day, waay more common

in the blockchain universe, then on the wallstreets of the world...

I'm looking at some of the returns from the Binance Smart Chain on PancakeSwap and they range from 300-15,000% gain this week alone. That's without staking and being in liquidity pools.
I'm learning that ecosystem now and hope to jump in and soar to the moon.

 

[havelcok]

bitcoin touching 50k

 

[largebillsonlyplease]

How is it that this thread as this much post. But yet the investing/stock thread fails in comparison? What am i missing here?

Profits and institutional control
The stark difference was just revealed.

Game stop was a come up -- the institutions STOPPED your ability to cash in until THEY could readjust and get in a position to win and there wasn't shit you could do about it.

Can't happen in crypto
ever.

 

[tical]

Profits and institutional control
The stark difference was just revealed.

Game stop was a come up -- the institutions STOPPED your ability to cash in until THEY could readjust and get in a position to win and there wasn't shit you could do about it.

Can't happen in crypto
ever.

Oh i know..I personally $$$ was effected by that. Good stuff nonetheless..I'll need to comb through this thread. Learning alot about cryptocurrency lately...Man the volatility is insane!

 

[largebillsonlyplease]

Oh i know..I personally $$$ was effected by that. Good stuff nonetheless..I'll need to comb through this thread. Learning alot about cryptocurrency lately...Man the volatility is insane!

It's only insane in the sense of things being discovered.
Instead of raising funds to be valuable before the IPO hits, coins are out here with their shares already before the world discovers its value.

Imagine if Apple when it was a startup had shares on the market for 5 cents and you could choose to believe in them or not.

That's what this is.

 

[gene cisco]

bigger gains being flipped... bruh a "common" dude making thousands a day, waay more common

in the blockchain universe, then on the wallstreets of the world...

This shit is crazy. But we going to be in 2030 and folks will still be talking tulips, fake Internet money, etc. Oh well.

I'm looking at some of the returns from the Binance Smart Chain on PancakeSwap and they range from 300-15,000% gain this week alone. That's without staking and being in liquidity pools.
I'm learning that ecosystem now and hope to jump in and soar to the moon.

That's the second thing I did after picking up ADA after getting raped by ETH fees. Got to play all the ecosystems. Because the whales ain't going to stop with ETH, but a lot of new money going to go to the binance chain because fees price them out.

Crazy that Binance helped fund Uniswap, so they getting money on both fronts while talking shit about the eth ecosystem. Gangster as fuck.

 

[APOPHIS]

This shit is crazy. But we going to be in 2030 and folks will still be talking tulips, fake Internet money, etc. Oh well.

That's the second thing I did after picking up ADA after getting raped by ETH fees. Got to play all the ecosystems. Because the whales ain't going to stop with ETH, but a lot of new money going to go to the binance chain because fees price them out.

Crazy that Binance helped fund Uniswap, so they getting money on both fronts while talking shit about the eth ecosystem. Gangster as fuck.

I never knew that Binance had a stake in Uniswap.
They also have a stake in Travala and numerous other projects I may not be familiar with. Binance is on the verge of becoming a complete crypto ecosystem. They have a token, an exchange, wallet, blockchain, dex and much more. Pretty sooner they may have their own NFT platform

 

[tpotda]

what's the best way to buy celsius and nexo tokens?

When you say "better to allocate more funds toward these lenders" I will presume you mean putting funds into the actual platform token.

Look at it like this, hundred billion dollar coins multiply (double in dollar price) slower than ten billion dollar coins. Smaller the market cap easier it is to double in price.

ETH $202B
LINK $11B
AAVE $6B
SNX $2B
CEL $1.4B
NEXO $888M

Defi coins are HOT right now but most people won't use Defi right now because the gas fees are too high. A simple staking operation, interacting with only one contract, wanted $600+ as the transaction fee. Too rich for my blood right now...

But, I can get 14% depositing SNX on Celsius and only pay the $10 to $20 transaction fee to move the tokens across the network...

The goal of Celsius is to onboard 100M people, they have maybe 500K now. If they only get 10M people what could that do to their $1.4B market cap?

Look at the use cases for a project. Look at market penetration for the project. Look at the market cap. Determine the probability of that market cap will double, 5X, 10X, etc. Then decide where to best allocate one's funds...

As always DYOR...

PS

Of the above coins, I would allocate percentage wise 50, 20, 10, 5, 5, 5 with 5 in USDT; Taking half to profit on a double; DCA on dips...

 

[bubba2k5]

Man XDC has been climbing all day!!

 

[dray]

bigger gains being flipped... bruh a "common" dude making thousands a day, waay more common

in the blockchain universe, then on the wallstreets of the world...

This is something that I've been thinking about lately.

Seems like crypto is way more profitable.

 

[Mrfreddygoodbud]

U

This is something that I've been thinking about lately.

Seems like crypto is way more profitable.

If the faggot Wall Street whales and irs

Kept their gluttonous scared ass criminal noses out the game.

There wouldve been

A whole lot more..

When they implemented kyc know your customer

Bullshit and they saw all those brown faces

They damn near tried to shut the game down.. Both what they didnt realize was crypto was created as a big fuck you to central banking..

And the true crypto gods.. Are light years ahead of any bank or govt..

The central bankers were partying hard after they implemented kyc bullshit and started talking that tax every trade garbage

And implemented algorithms to trace bitcoin transactions

But that smile was shut down and that party ended fast

When they ran into

MONERO..

LOL

 

[RoomService]

I never knew that Binance had a stake in Uniswap.
They also have a stake in Travala and numerous other projects I may not be familiar with. Binance is on the verge of becoming a complete crypto ecosystem. They have a token, an exchange, wallet, blockchain, dex and much more. Pretty sooner they may have their own NFT platform

If the U.S. didn’t have handcuffs on coinbase imo they would be heading in this direction too.

 

[dray]

For a beginner, which exchange would you guys recommend? Keep hearing about how Coinbase shuts down a lot. I’ve been looking into Gemini and Binance.

 

[praetor]

For a beginner, which exchange would you guys recommend? Keep hearing about how Coinbase shuts down a lot. I’ve been looking into Gemini and Binance.

Coinbase only shuts down when there is a huge spike in activity. It's never caused me a problem.

The important thing is to not keep anything on the exchanges unless you are conducting a transaction. If you have your keys in a wallet, Coinbase shutting down won't affect you.

I'd recommend that you sign up for all of the exchanges that are friendly to Americans: Coinbase, Gemini, Binance US, Kraken, Kucoin, Bittrex.

 

[Chuck_Luck]

Coinbase only shuts down when there is a huge spike in activity. It's never caused me a problem.

The important thing is to not keep anything on the exchanges unless you are conducting a transaction. If you have your keys in a wallet, Coinbase shutting down won't affect you.

I'd recommend that you sign up for all of the exchanges that are friendly to Americans: Coinbase, Gemini, Binance US, Kraken, Kucoin, Bittrex.

Hey, are you saying that you don't trust you coins on Coinbase? All the reputable firms do their transactions there. I assumed that it might be safe there rather the an online wallet.

 

[praetor]

Hey, are you saying that you don't trust you coins on Coinbase? All the reputable firms do their transactions there. I assumed that it might be safe there rather the an online wallet.

"Not your keys, not your coins."

Coinbase is safe, however if banks, Twitter, and the US government can be hacked, so can Coinbase. Your cash on there is FDIC insured, however your coins are a different matter. Coinbase claims to have insurance that will cover that, however I haven't seen the details of that so I don't trust it.

Plus their insurance only covers you if the site is affected, not if your individual account is affected because someone gained access to your account.

Also, coinbase could accuse you of violating their terms of service and straight take your coins.

Not to mention the fact that the IRS seems to be more focused on them than any other exchange. Uncle Sam wants to know when people cash out no matter the amount.

Keeping your coins in a wallet gives you the freedom to not have to worry about your coins being inaccessible due to coinbase crashing or even being down for routine maintenance.

I use a ledger hardware wallet. I have multiples in case something happens to the one I use. NEVER buy a hardware wallet from Amazon, eBay, etc. Only buy it straight from the manufacturer's website.

The big boys don't buy from retail exchanges like coinbase, they buy over the counter.

 

[D24OHA]

bitcoin touching 50k

I bought $100 worth the weekend they started dipping from $36K to $32K.... with fees it was like $97 .... just checked cash app and that shit is like $155 now.... should've used the $1k I have to play with.....


Trying to get more knowledgeable with crypto cuz I see the growth..... dogecoin jumped from like 2 cents to 10..... mfkrs going from hundreds of dollars to thousands in a week....

much smaller initial investment to still make good money, plus

but the whole exchange rate or cashing out rule is where I'm shaky