Bitcoins/Litecoins/Virtual Currencies

Jackie Treehorn

Jackie Treehorn

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Rajaah said:
Splitting my VET up into other things (Eth, BTC, MATIC) yea or nay? I've got less confidence in it than the others. Would be fine with keeping it, but I also don't have any BTC, and don't have enough Eth.
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You’re not going to lose anything by doing so In my opinion. VET will definitely rip some day though.
 
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Rais

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I had 300k vet in 2019 and sold in Jan 2020. Needless to say, I am still salty. It will creep up there one way since it is actual in-use crypto. I think Eth and dog will rip harder sooner than later.
 
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Intrinsic

Intrinsic

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Jackie Treehorn said:
I might be wrong but I don’t think there’s any laws governing crypto like there is stocks in regards to manipulation.

I‘ve more than doubled my money on MATIC thus far, so I’m up around $40k up in two weeks or something, whenever it was last 70 cents. I’ve added about 3500 extra coins from arbitrage. I’m not selling any raw coins, but whenever it dips good I take out a loan of DAI or USDT then repay it with stronger MATIC.
Click to expand...

Would you mind doing a little TLDR again about the loan part? Going to fish back to your last convo on that with ummm Haus, maybe, and see what I can pick up. Thinking long term about this and haven’t sold anything nor am I desiring to, and how to let all the recent and future stuff sit and marinate for a few years with minor involvement.
 
Jackie Treehorn

Jackie Treehorn

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Intrinsic said:
Would you mind doing a little TLDR again about the loan part? Going to fish back to your last convo on that with ummm Haus, maybe, and see what I can pick up. Thinking long term about this and haven’t sold anything nor am I desiring to, and how to let all the recent and future stuff sit and marinate for a few years with minor involvement.
Click to expand...
I just marked up my AAVE page for the benefit of discussion.

There's two strategies here. One is borrowing MATIC, let's go over that first.

You deposit your MATIC in AAVE. Simply having it sitting there pays out, as of this screenshot, 1.94 percent MATIC and 5.16 percent wMATIC (wrapped MATIC.) Just doing this alone, you're making money.

But, there's no reason JUST to leave it like this. So what you can do is, actually take a loan OF MATIC with your own MATIC as collateral...which doesn't make sense, why would taking a loan net you money? Well, it does, because they're giving a bonus to borrowing to get people using the site and providing liquidity.

So as you see, BORROWING MATIC costs you 6.14 APR. BUT...look right under that...you actually get 13.09 percent BONUS wMATIC for borrowing...which makes you borrowing money get paid more than what you pay to borrow it.

This wMATIC bonus accrues every 10 seconds. Then you collect it, and it goes into your wallet, and you can convert it to regular MATIC on QuickSwap for no real cost because MATIC is cheap as fuck to deal with.

That's the 1 easy, lazy thing you can do...and since you're borrowing MATIC *with* MATIC, you don't have to be worried about being liquidated because it obviously goes up and down with itself. The even cooler thing is, you can redeposit the MATIC you borrow and borrow more MATIC against it, just enhancing your gains of bonuses.

STRATEGY NUMBER TWO:

You borrow a stablecoin - - USDT, USDC, DAI - - all pegged to $1. These also have a base APR and bonus wMATIC, but those numbers you can more or less ignore, because that's not the point of borrowing stablecoin.

Let's say you borrow $10,000 worth of USDT, which is obviously 10,000 coins, when MATIC costs exactly $1 a coin. You borrow these 10,000 coins, you go to QuickSwap, and convert them to $10,000 worth of MATIC, then redeposit that in AAVE.

You wait a day, and MATIC goes up to $1.50. Well guess what...since your MATIC is worth 50 percent more now, you can go to QuickSwap, convert the MATIC back to USDT, and pay it back with half the coins you used to buy it...which nets you essentially 5000 "free" MATIC in arbitrage. Get it?

Now you DO have to be careful here...see the "health factor" below in the image? If that gets to 1, you get liquidated...so if you borrowed that USDT and MATIC goes half price, and you overextended, you're fucked...so you want to keep that at, in my opinion, 2.5 or so to sleep good at night and not worry about it. Don't get greedy...if you keep it at 2.5 or so there would have to be a catastrophic dip for it to be liquidated. This number matters very little when you're borrowing MATIC as it stays stable, but when you're borrowing anything else...

matic.jpg
 
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Intrinsic

Intrinsic

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Jackie Treehorn said:
I just marked up my AAVE page for the benefit of discussion.

There's two strategies here. One is borrowing MATIC, let's go over that first.

You deposit your MATIC in AAVE. Simply having it sitting there pays out, as of this screenshot, 1.94 percent MATIC and 5.16 percent wMATIC (wrapped MATIC.) Just doing this alone, you're making money.

But, there's no reason JUST to leave it like this. So what you can do is, actually take a loan OF MATIC with your own MATIC as collateral...which doesn't make sense, why would taking a loan net you money? Well, it does, because they're giving a bonus to borrowing to get people using the site and providing liquidity.

So as you see, BORROWING MATIC costs you 6.14 APR. BUT...look right under that...you actually get 13.09 percent BONUS wMATIC for borrowing...which makes you borrowing money get paid more than what you pay to borrow it.

This wMATIC bonus accrues every 10 seconds. Then you collect it, and it goes into your wallet, and you can convert it to regular MATIC on QuickSwap for no real cost because MATIC is cheap as fuck to deal with.

That's the 1 easy, lazy thing you can do...and since you're borrowing MATIC *with* MATIC, you don't have to be worried about being liquidated because it obviously goes up and down with itself. The even cooler thing is, you can redeposit the MATIC you borrow and borrow more MATIC against it, just enhancing your gains of bonuses.

STRATEGY NUMBER TWO:

You borrow a stablecoin - - USDT, USDC, DAI - - all pegged to $1. These also have a base APR and bonus wMATIC, but those numbers you can more or less ignore, because that's not the point of borrowing stablecoin.

Let's say you borrow $10,000 worth of USDT, which is obviously 10,000 coins, when MATIC costs exactly $1 a coin. You borrow these 10,000 coins, you go to QuickSwap, and convert them to $10,000 worth of MATIC, then redeposit that in AAVE.

You wait a day, and MATIC goes up to $1.50. Well guess what...since your MATIC is worth 50 percent more now, you can go to QuickSwap, convert the MATIC back to USDT, and pay it back with half the coins you used to buy it...which nets you essentially 5000 "free" MATIC in arbitrage. Get it?

Now you DO have to be careful here...see the "health factor" below in the image? If that gets to 1, you get liquidated...so if you borrowed that USDT and MATIC goes half price, and you overextended, you're fucked...so you want to keep that at, in my opinion, 2.5 or so to sleep good at night and not worry about it. Don't get greedy...if you keep it at 2.5 or so there would have to be a catastrophic dip for it to be liquidated. This number matters very little when you're borrowing MATIC as it stays stable, but when you're borrowing anything else...

View attachment 354048
Click to expand...

That makes pretty perfect sense I think. Thanks for taking the time to do that.
 
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Mist

Mist

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Rajaah said:
Isn't this practically insider trading? Like, if that did turn out to be the case, how is it legal? No rich influential people should be able to cause price swings with a tweet and benefit off of them IMO. I like Elon but yeah. Imagine The Kardashians or LeBron James doing this.
Click to expand...
1621030808390.png
 
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Threelions

Threelions

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Jackie Treehorn said:
I just marked up my AAVE page for the benefit of discussion.

There's two strategies here. One is borrowing MATIC, let's go over that first.

You deposit your MATIC in AAVE. Simply having it sitting there pays out, as of this screenshot, 1.94 percent MATIC and 5.16 percent wMATIC (wrapped MATIC.) Just doing this alone, you're making money.

But, there's no reason JUST to leave it like this. So what you can do is, actually take a loan OF MATIC with your own MATIC as collateral...which doesn't make sense, why would taking a loan net you money? Well, it does, because they're giving a bonus to borrowing to get people using the site and providing liquidity.

So as you see, BORROWING MATIC costs you 6.14 APR. BUT...look right under that...you actually get 13.09 percent BONUS wMATIC for borrowing...which makes you borrowing money get paid more than what you pay to borrow it.

This wMATIC bonus accrues every 10 seconds. Then you collect it, and it goes into your wallet, and you can convert it to regular MATIC on QuickSwap for no real cost because MATIC is cheap as fuck to deal with.

That's the 1 easy, lazy thing you can do...and since you're borrowing MATIC *with* MATIC, you don't have to be worried about being liquidated because it obviously goes up and down with itself. The even cooler thing is, you can redeposit the MATIC you borrow and borrow more MATIC against it, just enhancing your gains of bonuses.

STRATEGY NUMBER TWO:

You borrow a stablecoin - - USDT, USDC, DAI - - all pegged to $1. These also have a base APR and bonus wMATIC, but those numbers you can more or less ignore, because that's not the point of borrowing stablecoin.

Let's say you borrow $10,000 worth of USDT, which is obviously 10,000 coins, when MATIC costs exactly $1 a coin. You borrow these 10,000 coins, you go to QuickSwap, and convert them to $10,000 worth of MATIC, then redeposit that in AAVE.

You wait a day, and MATIC goes up to $1.50. Well guess what...since your MATIC is worth 50 percent more now, you can go to QuickSwap, convert the MATIC back to USDT, and pay it back with half the coins you used to buy it...which nets you essentially 5000 "free" MATIC in arbitrage. Get it?

Now you DO have to be careful here...see the "health factor" below in the image? If that gets to 1, you get liquidated...so if you borrowed that USDT and MATIC goes half price, and you overextended, you're fucked...so you want to keep that at, in my opinion, 2.5 or so to sleep good at night and not worry about it. Don't get greedy...if you keep it at 2.5 or so there would have to be a catastrophic dip for it to be liquidated. This number matters very little when you're borrowing MATIC as it stays stable, but when you're borrowing anything else...

View attachment 354048
Click to expand...
Forgive my ignorance, is that binance or an AAVE browser itself? I’ve never used binance since I’m in NY and cuomo sucks cock
 
Jackie Treehorn

Jackie Treehorn

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Threelions said:
Forgive my ignorance, is that binance or an AAVE browser itself? I’ve never used binance since I’m in NY and cuomo sucks cock
Click to expand...
That’s on AAVEs website.

app.aave.com

Aave - Open Source Liquidity Protocol

Aave is an Open Source Protocol to create Non-Custodial Liquidity Markets to earn interest on supplying and borrowing assets with a variable or stable interest rate. The protocol is designed for easy integration into your products and services.
app.aave.com app.aave.com
 
Pogi.G

Pogi.G

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Caliane

Caliane

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Pogi.G said:
Check your BTC wallets. Apparently, someone from Coinbase sent over 172k coins to wrong address, and it was a valid address.

Don't see official news from CB, so it could be fake news, but probably worth a look...

www.valuewalk.com

Bitcoin Crash Could Worsen After Coinbase Employee Accidentally Sent 44% Of Users Bitcoin To Wrong Address

In a sick twist of fate, Coinbase has made quite possibly one of the largest mistakes in brokerage history, after an unnamed employee has reportedly
www.valuewalk.com www.valuewalk.com
Click to expand...
yeah, its "satire", read past the headline.
 
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Rangoth

Rangoth

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Jackie Treehorn said:
I just marked up my AAVE page for the benefit of discussion.

There's two strategies here. One is borrowing MATIC, let's go over that first.

You deposit your MATIC in AAVE. Simply having it sitting there pays out, as of this screenshot, 1.94 percent MATIC and 5.16 percent wMATIC (wrapped MATIC.) Just doing this alone, you're making money.

But, there's no reason JUST to leave it like this. So what you can do is, actually take a loan OF MATIC with your own MATIC as collateral...which doesn't make sense, why would taking a loan net you money? Well, it does, because they're giving a bonus to borrowing to get people using the site and providing liquidity.

So as you see, BORROWING MATIC costs you 6.14 APR. BUT...look right under that...you actually get 13.09 percent BONUS wMATIC for borrowing...which makes you borrowing money get paid more than what you pay to borrow it.

This wMATIC bonus accrues every 10 seconds. Then you collect it, and it goes into your wallet, and you can convert it to regular MATIC on QuickSwap for no real cost because MATIC is cheap as fuck to deal with.

That's the 1 easy, lazy thing you can do...and since you're borrowing MATIC *with* MATIC, you don't have to be worried about being liquidated because it obviously goes up and down with itself. The even cooler thing is, you can redeposit the MATIC you borrow and borrow more MATIC against it, just enhancing your gains of bonuses.

STRATEGY NUMBER TWO:

You borrow a stablecoin - - USDT, USDC, DAI - - all pegged to $1. These also have a base APR and bonus wMATIC, but those numbers you can more or less ignore, because that's not the point of borrowing stablecoin.

Let's say you borrow $10,000 worth of USDT, which is obviously 10,000 coins, when MATIC costs exactly $1 a coin. You borrow these 10,000 coins, you go to QuickSwap, and convert them to $10,000 worth of MATIC, then redeposit that in AAVE.

You wait a day, and MATIC goes up to $1.50. Well guess what...since your MATIC is worth 50 percent more now, you can go to QuickSwap, convert the MATIC back to USDT, and pay it back with half the coins you used to buy it...which nets you essentially 5000 "free" MATIC in arbitrage. Get it?

Now you DO have to be careful here...see the "health factor" below in the image? If that gets to 1, you get liquidated...so if you borrowed that USDT and MATIC goes half price, and you overextended, you're fucked...so you want to keep that at, in my opinion, 2.5 or so to sleep good at night and not worry about it. Don't get greedy...if you keep it at 2.5 or so there would have to be a catastrophic dip for it to be liquidated. This number matters very little when you're borrowing MATIC as it stays stable, but when you're borrowing anything else...

View attachment 354048
Click to expand...

I posted this a while back, but for Nexo. You can do the exact same thing. Deposit coin X, take loan to coin X, at a higher return rate than borrow rate! I actually didnt believe it because something seemed fake about it. I dont throw down as much as you, but i did make about 50$ And realized that it probably wasnt as good as pure trading/investing in crypto. I have no idea how this is sustainable, but 8m loving this defi crypto lending thing. Assuming it becomes trustworthy and insured at some point why ever use a bank again?
 
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Rajaah

Rajaah

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Jackie Treehorn said:
You’re not going to lose anything by doing so In my opinion. VET will definitely rip some day though.
Click to expand...
Rais said:
I had 300k vet in 2019 and sold in Jan 2020. Needless to say, I am still salty. It will creep up there one way since it is actual in-use crypto. I think Eth and dog will rip harder sooner than later.
Click to expand...

Yeah, I'm sure VET will rip someday, what I'm wondering is would I be better off say, doubling my Eth or MATIC when those are showing a lot more promise of rippin' now. I guess this really does come down to a personal judgment call. When VET does blow up it's going to have a ton of potential, starting so low.

Currently I've got my main crypto acct split 3 ways between them at about a 38/38/24 ratio between VET/MATIC/Eth, which is why I'm thinking about merging the VET money before Eth and MATIC take off further than they already have. Also have a separate acct for TrueBit that I'm totally hands-off with until gas prices go down. I'll probably keep VET and just keep adding extra USD to Eth until it gets to where my goals are.
 
Jackie Treehorn

Jackie Treehorn

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Rajaah said:
Yeah, I'm sure VET will rip someday, what I'm wondering is would I be better off say, doubling my Eth or MATIC when those are showing a lot more promise of rippin' now. I guess this really does come down to a personal judgment call. When VET does blow up it's going to have a ton of potential, starting so low.

Currently I've got my main crypto acct split 3 ways between them at about a 38/38/24 ratio between VET/MATIC/Eth, which is why I'm thinking about merging the VET money before Eth and MATIC take off further than they already have. Also have a separate acct for TrueBit that I'm totally hands-off with until gas prices go down. I'll probably keep VET and just keep adding extra USD to Eth until it gets to where my goals are.
Click to expand...
For what it's worth, I'm not leaving MATIC. The daily interest I'm getting in DeFi, the arbitrage bucks when it drops, etc...even if I took all my MATIC profits out right now I'd probably just put them all in ETH and put it in DeFi also.

I truly believe MATIC will net me more money this year than ETH would. With how strong it's blowing up I can see $10 easily later this year, which will be over 10x my buy in of 70 cents.
 
James

James

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I'm consolidating all my bags to Ethereum and Truebit in preparation for the summer, couple of coins left I'm waiting for a better price on.
 
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swayze22

swayze22

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Jackie Treehorn said:
They’ve had it like that for a while, it doesn’t mean anything. Think it’s just a placeholder.
Click to expand...
literally never seen it before and opened my app and it just showed with the others pegged to the "top of the list". it just represents the ETH info when you click it. literally no purpose i can see? seemed odd.
 
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