Bitcoins/Litecoins/Virtual Currencies

James

James

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Just sold one of the NFTs I minted for .02 ETH for .5 ETH. It was the naked furry one. Nice.

EDIT: In total I spent .76 ETH including gas for minting 21 of these, and three sales in the following two days have put me at .70 ETH back. Bout to go balls deep on this NFT stuff, meme coins are gonna get jealous.
 
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Tmac

Tmac

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James said:
Just sold one of the NFTs I minted for .02 ETH for .5 ETH. It was the naked furry one. Nice.

EDIT: In total I spent .76 ETH including gas for minting 21 of these, and three sales in the following two days have put me at .70 ETH back. Bout to go balls deep on this NFT stuff, meme coins are gonna get jealous.
Click to expand...

Holy shit lol
 
T

Torrid

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I was checking out ETH gas fees a few weeks ago, saw that something called 'Axie Infinity' was using a lot of gas on the network. I thought, WTF is that? Googled it, and it's some Pokemon-like NFT game made in Vietnam and Filipinos are making tons of money off of it. Like crypto kitties with gameplay. Trying explaining this to congress
 
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James

James

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Tmac said:
Holy shit lol
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Dude I've been grinning ear to ear since just about it happened. It's fucking crazy, those horny fucking furry bastards. I'm so addicted to this NFT stuff now, I'm in https://twitter.com/PenguinFightNFT and that Rogue Society Bots discord channels and I think they have pretty good potential. I'm worried that they're going to sell out super fast, and a bunch of apes are gonna drive gas up to mint them, but we'll see.
 
Alterity

Alterity

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Torrid said:
I was checking out ETH gas fees a few weeks ago, saw that something called 'Axie Infinity' was using a lot of gas on the network. I thought, WTF is that? Googled it, and it's some Pokemon-like NFT game made in Vietnam and Filipinos are making tons of money off of it. Like crypto kitties with gameplay. Trying explaining this to congress
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I started playing Axie Infinity about 1.5 weeks ago. It's an interesting concept to say the least and I think it has potential to change how we look at a gaming economy. The initial investment is pretty high...i spent .6 ETH which was about 1500$ at the time to get started. This gets you 3 playable Axies( 3 NFTs on the blockchain) to form a team. The Axies you buy have skills in the form of cards that you use for PVE and PVP. In game there's a daily quest which consist of winning 10 PVE rounds and 5 PVP rounds. For completing this daily quest you get 50 Small Love Potions tokens, which at the time of this post 1 SLP = $0.1778 so about 9$. On top of the daily quest you get some SLP for winning in each round in PVE and PVP if you have Energy left (how much you can earn while playing in a day), which starts at 20 Energy. I heard the max SLP you can get in a day is about 150-200, but not sure about that.

In this 1.5 weeks I have 1128 SLP tokens (200$), which I can sell or start to use to breed my Axie's. I haven't started doing this because my Axie's aren't great for breeding, but once I get my initial investment back, I might try to start doing this because you can get a pretty large farm going and the cheapest Axies currently to buy are about 350-400$, but it cost about 200$ to breed.

There's even another way to make money in this by doing an Axie Scholarship, where you basically buy another team of 3 Axies and lend those NFTs out for someone to play for you. You claim their SLP on their behalf because it's in your account and split the profit with the person who is playing your account. Apparently this is why it's huge in the Philippines, because it's more profitable to play this game then getting a real job. It's pretty wild and kind of scary at the same time. You should see the Discord for people begging to have a Axie Scholarship, it's non stop! I guess you can get banned if it you don't do it correctly so I haven't bothered with this yet either.

There's still a ton I am trying to learn about this, but if I get my initial profit back I'll enjoy the free money I get for playing this every once in awhile. We'll see if I do though. I just wish the game was little more exciting. It's not god awful, but it's also not my favorite card game.
 
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Lightning Lord Rule

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I started playing Axie Infinity about 1.5 weeks ago. It's an interesting concept to say the least and I think it has potential to change how we look at a gaming economy. The initial investment is pretty high...i spent .6 ETH which was about 1500$ at the time to get started. This gets you 3 playable Axies( 3 NFTs on the blockchain) to form a team. The Axies you buy have skills in the form of cards that you use for PVE and PVP. In game there's a daily quest which consist of winning 10 PVE rounds and 5 PVP rounds. For completing this daily quest you get 50 Small Love Potions tokens, which at the time of this post 1 SLP = $0.1778 so about 9$. On top of the daily quest you get some SLP for winning in each round in PVE and PVP if you have Energy left (how much you can earn while playing in a day), which starts at 20 Energy. I heard the max SLP you can get in a day is about 150-200, but not sure about that.

In this 1.5 weeks I have 1128 SLP tokens (200$), which I can sell or start to use to breed my Axie's. I haven't started doing this because my Axie's aren't great for breeding, but once I get my initial investment back, I might try to start doing this because you can get a pretty large farm going and the cheapest Axies currently to buy are about 350-400$, but it cost about 200$ to breed.

There's even another way to make money in this by doing an Axie Scholarship, where you basically buy another team of 3 Axies and lend those NFTs out for someone to play for you. You claim their SLP on their behalf because it's in your account and split the profit with the person who is playing your account. Apparently this is why it's huge in the Philippines, because it's more profitable to play this game then getting a real job. It's pretty wild and kind of scary at the same time. You should see the Discord for people begging to have a Axie Scholarship, it's non stop! I guess you can get banned if it you don't do it correctly so I haven't bothered with this yet either.

There's still a ton I am trying to learn about this, but if I get my initial profit back I'll enjoy the free money I get for playing this every once in awhile. We'll see if I do though. I just wish the game was little more exciting. It's not god awful, but it's also not my favorite card game.
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So they're using ETH to play Pokemon, Farmville, and Candycrush to reenact the "Canadough" episode of South Park and in the process sending the gas fees for everyone else through the roof... goddamn it.

R.085688a3a493d63df26d17dfe0e83d08
 
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Alterity

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Yeah pretty much. This does happen on their own Ronin chain now. People still need to pay the ETH gas fees to bridge the coins back and forth though.
 
James

James

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Who knew poopsocking could be profitable except for all those Chinese gold farmers in WoW?
 
Tmac

Tmac

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If they made a Pokémon NFT where there were basically different feature variations of each Pokémon, I could probably understand that bc then you’d be able to guarantee rarity.

But, even then it’s mind boggling that someone would pay $500 for an avatar that wasn’t already an established brand. I don’t get it, but I’m starting to understand the principle.
 
Haus

Haus

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I will admit if they had an MMO style game where you could turn profit on the level you can in Axie I'd probably be down with it. Especially if I could adapt the TSM macro set from WoW.
 
Alterity

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Yea, same. I used to play the AH sniping game all the time back in WoW with TSM. Because of this dumb game I am starting to pay attention to these Play to Earn games though. Here's Ember sword, Ember Sword, supposedly an MMO that's coming out at some point that has some of this tied into it. There's also a concept of a land sale where you own a plot of the land in game. I guess if transactions happen on that plot you get a cut of the profits. I don't really know tbh it's kind of nuts to me and it feels a lot like the KickStarter fad where these games never truely see the light of day.
 
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Flobee

Flobee

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Thread regarding some breadcrumbs suggesting that US may be aligning itself for full Bitcoin adoption. Obviously speculation but I found it interesting (confirms my bias).

EDIT: Three threads linked here:

Gensler talking about ETH premine + possibility of being a security in a lecture from 2018

To be clear I'm not trying to FUD Ethereum here, but I do think its worth understanding where the current SEC chairman is coming from on this. I'm not just making this shit up an no amount of James James calling me retarded is going to change the SEC chairman's publicly stated opinion. I believe that US markets are far too invested in ETH at this point for them to feasibly go after it as a security, which he essentially says himself (sufficiently decentralized) however I do think that a number of shitcoins that fail the DINO (Decentralized In Name Only) test, whatever their criteria for that is, should be on notice.

At the end of the day regulation is inevitable and for me personally I want my investments to be prepared to withstand that regulation. Shitcoin casino is probably not going to provide that. Gensler has also said that exchanges that hold a multitude of coins are likely to be regulated. I expect the spectrum of "legal" cryptos in the US to shrink drastically in the near future.
 
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Haus

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Yea, same. I used to play the AH sniping game all the time back in WoW with TSM. Because of this dumb game I am starting to pay attention to these Play to Earn games though. Here's Ember sword, Ember Sword, suppsoedly an MMO that's coming out at some point that has some of this tied into it. There's also a concept of a land sale where you own a plot of the land in game. I guess if transactions happen on that plot you get a cut of the profits. I don't really know tbh it's kind of nuts to me and it feels a lot like the KickStarter fad where these games never truely see the light of day.
Click to expand...

I looked at Ember Sword. They had a pre-launch sale of in-game land. I was interested, looked like $30-$50 per plot for land in the game. I figured I could buy a couple plots next to one another, play the game, see if one could make money in it, while Mrs. Haus Mrs. Haus could play "player housing" on the land and do her thing. Then the pre-sale launches, someone found a way to interact directly with the smartcontract rather than through the website and essentially bought all the best land in the first 10 seconds.

I decided I'd just wait until Ember Sword becomes a real game and then look at it. heh
 
James

James

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Flobee said:
Gensler talking about ETH premine + possibility of being a security in a lecture from 2018
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The first quote is pretty bullshit, he "thought" it was a security in 2014, but never gives any good reason as to why. The "premine" bullshit shows that he did almost 0 research or any specific analysis as to if it was a security or not at the time. The second quote says exactly word for word what I said about monetary policy not being fixed in stone or even controversial - Gensler thinks Vitalik is able to galvanize social consensus in a way that the Bitcoin network lacks which thus makes the Bitcoin social network more decentralized, but I contend the only reason you can think that is if you ignore Adam Back and Blockstream entirely.

Flobee said:
Shitcoin casino is probably not going to provide that. Gensler has also said that exchanges that hold a multitude of coins are likely to be regulated.
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The big meme on these shitcoins is "LIQUIDITY LOCKED CONTRACT RENOUNCED" so who is Gensler suggesting be regulated in this equation, and how do you think he plans to accomplish it? Do you think he holds a gun to Hayden Adams' head and forces him to code a backdoor into the protocol or something? What specifically is your fear here that you think the Bitcoin network provides a better safeguard against.
 
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