Bitcoins/Litecoins/Virtual Currencies

30k was a mini support level for bitcoin last time it started to drop, lets see if it holds again

I'm looking to get in more even. the more research I do, I think cryto is largely inevitable. so, Im pretty confidant in the long term. And I think over 10years, the top coins will outperform my mutual funds. esp the weaker non-IRA.
i'm pretty ok with a nice drop. let me buy more cheaper.

BTC itself actually seems like its not the most ideal tech.. but the most famous.. (it really does not seem super useful as an actual currency.) gold 2.0 with an actual stablecoin as the real currency?
Eth seems better. And Eth 2.0 should generate more investment over 2021-2022.

Can even get involved with staking with Eth.

That seems to be the way crypto will end up working out. BTC will be like a backing digital commodity (like gold) and some other coin or coins will become the de-facto currency.

Wall Street has sunk it's teeth into BTC bigly so I don't see it ever really being used as a currency. Grayscale owns something like 3% of all Bitcoin already.

I see BTC as collateral and store of value. ETH or another smart contract platform will probably host stablecoins and a layer 1 + layer 2 financial applications. The industry is still not ready for mainstream adoption (scalability), but I think it is coming anyway. Traditional banking system is ripe for disruption and the writing is on the wall.

Whether or not it is Ethereum that tackles scaling and decentralization properly we'll see. They're the clear front runner right now though. Regulators have approved USDC to be used for payments via Ethereum.

A non-sovereign, censorship and coercion resistant monetary system is world changing.

Being a long term general crypto bear seems pretty wild to me. Betting against innovation.

Sanrith Descartes said:

I don't think the author is bullish on crypto

'Prepare to lose all your money' — regulator's blunt warning on bitcoin and other cryptocurrencies - MarketWatch

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UK is looking to cuck their citizens.


I wouldn't be completely shocked if a Biden admin tries something similar here. I imagine US has a stronger institutional presence in the crypto space though so they'll find quite a bit of resistance. Worth noting that these banks are specifically the institutions that crypto will disrupt first.

Anyone have any personal experience with the lending style platforms like compoud or whatever? Ive read about them, get how it works but was looking for some personal experience from the trusted forum! For people who are, like stated above, in it for the long haul it seems like a good idea if its not a shit scam/con job. The apy is low, but its paid in BTC so even though its around 2% qhen combined with increase in BTC value it could be much more.

Thoughts or personal experience on the topic?

Side question, while it seems like BTC, maker, and ethereum are the big players, anyone with more tech/industry experience have thoughts on all the other little coins out there currently trading sub-200$? Is it worth buying some small amount of those hoping they go the path of BTC or are most destined to fail or remain status quo?

Sorry if this is mixed in the thread. Im new to this thread and tried to catch up, but im basically an amatuer who has a few bitcoin from early on and just sitting on them. Considering being more active in other aspects though.

Rangoth said:

Anyone have any personal experience with the lending style platforms like compoud or whatever? Ive read about them, get how it works but was looking for some personal experience from the trusted forum! For people who are, like stated above, in it for the long haul it seems like a good idea if its not a shit scam/con job. The apy is low, but its paid in BTC so even though its around 2% qhen combined with increase in BTC value it could be much more.

Thoughts or personal experience on the topic?

Side question, while it seems like BTC, maker, and ethereum are the big players, anyone with more tech/industry experience have thoughts on all the other little coins out there currently trading sub-200$? Is it worth buying some small amount of those hoping they go the path of BTC or are most destined to fail or remain status quo?

Sorry if this is mixed in the thread. Im new to this thread and tried to catch up, but im basically an amatuer who has a few bitcoin from early on and just sitting on them. Considering being more active in other aspects though.

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Regarding compound it works pretty simply. You connect your Web3 wallet (Metamask being the most common) to Compound | Dashboard select the asset you want to lend, enable it, then send the funds to the smart contract. You'll need to sign at least 2 transactions (enable, then sending to contract). Enable should be very low gas cost, the assets will probably cost you a decent amount to send.

If you're looking to lend your BTC I would suggest Blockfi for now. Yes, it is a centralized company and if its not your keys its not your crypto. However they're offering 6% on BTC (8% on USD) and they're an American company. I would never send them ALL of my BTC, but a small amount makes sense. Whatever you're willing to risk.

Keep in mind that decentralized protocols have their own risks.

If you're into lending I would suggest checking out Aave - Open Source Liquidity Protocol as well. It is positioning itself to be fairly successful in the P2P lending market. I don't have personal experience with this one though, just hear a lot about it.

RE: Altcoins - Its kind of a mixed bag. Someone could tell you what they're into, but that won't sound much different than them shilling you their bags. You'll need to do your own research because 90%+ will be scams or at least completely fail to deliver. The ones that run are probably going to run pretty hard.

LINK, DOT, YFI, AAVE, and EWT (energy web token), are IMO safe-ish investment. No promises though and I don't own all of them myself. I would say don't put any money in alts your not willing to 100% lose. It is absolutely gambling right now.

A guy posted this report on his tracking of top ten currencies.

I purchased $100 of each of Top 10 Cryptos in Jan. 2018, haven't sold or traded, reporting monthly for nearly three years. Did the same in 2019 and 2020. This is the OG 2018 Top Ten Three Year Report.

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Tracking top ten currency report
short version. bloodbath. 2 clear winners.. everything else massive loss.

Theres an obvious thing. Lots of currencies. lots are scams, ponzi schemes. Theres going to be clear winners and losers. Like a vhs/betamax, minidisc/cd, etc.. They simply will not all be adopted.

It looks like we have some clear winners atm. "marginally" safe bets. But its still possible for a new king to come around, and BTC/eth themelves would suddenly be vhs, and drop to zero..

I see a good amount of buzz about Nano.
Which would fit into my theory on btc=gold. eth=tech, nano=actual day to day currency.

nano is not on coinbase.

You mentioned risk with the BlockFi and lending....but my concern is what kind of risk. What i mean is, are we talking the risk of giving a deadbeat friend 20$ knowing he may not pay me back or the kind of risk like the guy/people who made the software are going to close up shop and steal everyones bitcoins in the system? Didnt this type of shit happen a few times before?

I guess l’m just thinking in my head that im not a hard crypto investor or buyer, but why not have my few idle bitcoins doing something while i try to ride the wave to 100k+, maybe thats just wishful thinking.

For altcoins i did something kinda like that other dude. I think i bought maybe 50$ in a few random coins early on hoping for the best or another BTC thing where my 50 could become thousands. No luck so far obviously lol but also at 50$ not much risk. Like you said it seems like every coin has their “why we are better” video.

I like the description above about nano and the analogy. Ill check that out.

Rangoth said:

You mentioned risk with the BlockFi and lending....but my concern is what kind of risk. What i mean is, are we talking the risk of giving a deadbeat friend 20$ knowing he may not pay me back or the kind of risk like the guy/people who made the software are going to close up shop and steal everyones bitcoins in the system? Didnt this type of shit happen a few times before?

I guess l’m just thinking in my head that im not a hard crypto investor or buyer, but why not have my few idle bitcoins doing something while i try to ride the wave to 100k+, maybe thats just wishful thinking.

For altcoins i did something kinda like that other dude. I think i bought maybe 50$ in a few random coins early on hoping for the best or another BTC thing where my 50 could become thousands. No luck so far obviously lol but also at 50$ not much risk. Like you said it seems like every coin has their “why we are better” video.

I like the description above about nano and the analogy. Ill check that out.

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Counter party risk. You're giving your crypto to someone. Much like putting money in a bank, once it is in their possession they legally own it. If you don't sweat putting money in a bank you may not really care about putting money in Blockfi. Anytime someone else has the private key to your crypto, there is risk.

LachiusTZ said:

Lending like putting 32 ETH into a thing for them to use?

Don't really know much about it, just that it creates a node and you can get returns for letting people use it

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Sounds like you're referring to staking. That would be quite different than lending. Risk for staking is going to be protocol risk. In other words, if you're staking Ethereum your risks would be:

a) Does my validator fuck up and I get slashed?
b) Does ETH crash and make my validator worthless?
c) Am I willing to maintain a validator node?

Eth staking. looking into that. still beyond me a bit.
Theres two things right off the bat.
one, 32 eth hurdle to fully stake and run software yourself to validate.
OR, if you have less then 32 eth, you can join a pooling service, to stake with others.
Link from Ethereum.org. which does not endorse any of these pools, just lists.

If you have 32 eth. you can stake it. locks it in for 2 years I think? run eth2 launchpad/client, on your system. not sure how resource intense it is.


I saw an article complaining not enough people were staking for eth 2.0 yet, back in nov.
It certainly is a bit nebulous. no clear, direct answers. like even something as simple as, is staking an active process, or just letting the validator run in the bg? or as mentioned, what kind of system drain is it? Is it something that should be run on a dedicated machine?


Ethstaker reddit sticky post

"why does it cost so much to stake?"
"well, the only way to be sure you take the job seriously, is by having something to hold over your head. If you want to earn money, you have to do the job correctly. " (Unsaid, also to vote)
"It turns out this incentive, really encourages people to do that right thing."

So Ethereum staking is built upon... only wealthy landowners should have the right to vote. lol.

One of the alt coins I hold is Digibyte (DGB).

Very fast transaction time which will scale up over time and is one of six coins (BTC included) to be in the top 100 list since 2014.

It is meant to be used as an everyday currency and has smart contracts built in.

wormie said:

Top 100? What exactly is the value of this list?

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It has staying power. Outside of BTC the amount of coins that managed to stay up can be counted on one hand

there has been so many coins, that has came and then simply fell off and never came back up.

wormie said:

Top 100? What exactly is the value of this list?

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Top 100 by marketcap I'm assuming.

as seen here

Flobee said:

Top 100 by marketcap I'm assuming.

as seen here

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Yes, this is what I mean.

I still hold some Monero (XMR), it's a strong privacy coin and can be mined on video cards effectively (unlike BTC which has moved to specialized purpose-built systems mostly).

Sold my BTC in the slide on monday. Even selling at what turned out to be the bottom I still nearly tripled my investment. It's been moving back up in the last 24h but I'm thinking this is a bull trap. Expecting it to drop under 20k again in the next few weeks.

Nation state phase is slowly heating up. It will start with countries sanctioned by the traditional financial system, but it wont end there IMO