Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
TheBeagle
JunkiesNetwork Donor
- 8,491
- 29,241
Aaron
Goonsquad Officer
- 8,092
- 17,868
God I hate my shithole of a country sometimes. Coinbase says it can transfer funds directly to and from my bank account instead of using the Credit Card, but after trying it out all I got was the money transferred back to me, minus the cost. Oh well, time to max out my Credit Card!
Nester
Vyemm Raider
- 4,930
- 3,126
HI,
I am a noob who has some fun with this in the run back in 2017 / 2018
Why is LITE Coin not more popular? it seems like the only coin that actually works well as a currency.
Seems to be gaining strength now, any reason ?
Why did i not post this last month like i wanted to when it was 50% of the price.
Any Canadians recommend an exchange? I used Quadrix last time and got out before the fraud.
Want to set my self up for a good run in the next crater!
I am a noob who has some fun with this in the run back in 2017 / 2018
Why is LITE Coin not more popular? it seems like the only coin that actually works well as a currency.
Seems to be gaining strength now, any reason ?
Why did i not post this last month like i wanted to when it was 50% of the price.
Any Canadians recommend an exchange? I used Quadrix last time and got out before the fraud.
Want to set my self up for a good run in the next crater!
Flobee
Vyemm Raider
- 2,605
- 2,996
Like most altcoins the use case for LTC did not pan out. It will go up with the rest of the pack but I don't think anything particularly special is happening for LTC. They are actually still developing so maybe there is more than I'm aware but I wouldn't suggest wasting time with it. Bitcoin will be a currency when its time for it to be a currency (it already is in Nigeria for example). For now its a store of value, digital gold.
Welcome back to crypto, I would suggest you hold some BTC before you go play in the mud.
Last edited:
- 1
- 2,770
- 6,425
Here's what I was talking about with AAVE earlier. The dashboard makes things (slightly) less confusing.
At the moment it's not even as good as staking (18 percent) depending how you structure it.
Currently I'm borrowing MATIC with MATIC which leaves no inherent risk, because you pay back the loan in MATIC so no matter how far up or down it goes, it doesn't matter, but borrowing this MATIC costs 6.76% variable APY with a current wMATIC bonus of 15.63% APR, in addition to the 2.35% APY for holding it, with an addition bonus of 6.79% APR. You can borrow *more* MATIC with the MATIC you borrow.
You get fed back wMATIC every 10 seconds (you can see in this screenshot I have 6.34 banked.)
Now, the goofy thing is, you have to reshuffle this all the time because the APY for borrowing will sometimes jump up to like 20 percent and the bonus will go stay the same or down 1 or 2, which will put you at parity with the 2.35 + 6.79 percent bonus on the other side. No bueno there.
What *really* nets money is borrowing a stablecoin with MATIC, waiting for MATIC to go up, then repaying the loan with a higher value MATIC, which nets you more MATIC overall. You just have to borrow way less to be safe (health factor over 2.5 or so) to avoid any catastrophic drops. I'm very conservative so I wouldn't do less than 3 probably.
If there's any legit DEX that comes out I'll consider putting it in a farm, i.e. Pancakeswap, but for Polygon. There are already some in existence on Polygon but they're way dubious. AAVE is legit and backed by Polygon.
Probably still a bit confusing but once you get into it it's pretty simplistic.
At the moment it's not even as good as staking (18 percent) depending how you structure it.
Currently I'm borrowing MATIC with MATIC which leaves no inherent risk, because you pay back the loan in MATIC so no matter how far up or down it goes, it doesn't matter, but borrowing this MATIC costs 6.76% variable APY with a current wMATIC bonus of 15.63% APR, in addition to the 2.35% APY for holding it, with an addition bonus of 6.79% APR. You can borrow *more* MATIC with the MATIC you borrow.
You get fed back wMATIC every 10 seconds (you can see in this screenshot I have 6.34 banked.)
Now, the goofy thing is, you have to reshuffle this all the time because the APY for borrowing will sometimes jump up to like 20 percent and the bonus will go stay the same or down 1 or 2, which will put you at parity with the 2.35 + 6.79 percent bonus on the other side. No bueno there.
What *really* nets money is borrowing a stablecoin with MATIC, waiting for MATIC to go up, then repaying the loan with a higher value MATIC, which nets you more MATIC overall. You just have to borrow way less to be safe (health factor over 2.5 or so) to avoid any catastrophic drops. I'm very conservative so I wouldn't do less than 3 probably.
If there's any legit DEX that comes out I'll consider putting it in a farm, i.e. Pancakeswap, but for Polygon. There are already some in existence on Polygon but they're way dubious. AAVE is legit and backed by Polygon.
Probably still a bit confusing but once you get into it it's pretty simplistic.
- 1
- 2,770
- 6,425
TLDR is:
You can deposit your MATIC and get interest back on it. Then you can borrow MATIC and actually get more bonus interest than you’re paying on it.
It’s some kind of promotion for the site per my understanding.
Caliane
Avatar of War Slayer
- 14,539
- 10,025
LTC was made to fix BTC failing as a currency... But then theres things like XLM, Nano, etc which are even better.
Monero for a privacy coin, etc.
I don't know who is going to win that one. But I don't think it will be LTC.
James
Ahn'Qiraj Raider
- 2,804
- 7,056
READ IT AND WEEP, Ethereum is the greatest and Bitcoin is 2010s technology.
Truebit going to be a top 3 coin in 5 years.
- 3
- 2
- 1
Zog
Blackwing Lair Raider
- 1,726
- 2,244
Zog
Blackwing Lair Raider
- 1,726
- 2,244
Theres a reason I dont trade crypto and it just seems wrong on so many levels, nothing should be that easy in life.
The current state of the market for equities is looking bleak. Its quite obvious everyone is in crypto right now that has a glow about it, while stonkz is a bipolar bitch that more often than not is red these days with our Fed employees muttering interest rate hikes once or twice a week. Anyone that can look up a chart can see if the stonkz go down, crypto is going down with it.
People have obviously become very loose with their money (massive stimulus combined with tax returns and a huge raise going on unemployment) have created a retail bubble that is rich and naive that is totally down for insanity and life changing gambling.
Will doge go beyond $1? Who knows...I just saw day after day stocks doing 170-230% while the entire tech sector burned.
The current state of the market for equities is looking bleak. Its quite obvious everyone is in crypto right now that has a glow about it, while stonkz is a bipolar bitch that more often than not is red these days with our Fed employees muttering interest rate hikes once or twice a week. Anyone that can look up a chart can see if the stonkz go down, crypto is going down with it.
People have obviously become very loose with their money (massive stimulus combined with tax returns and a huge raise going on unemployment) have created a retail bubble that is rich and naive that is totally down for insanity and life changing gambling.
Will doge go beyond $1? Who knows...I just saw day after day stocks doing 170-230% while the entire tech sector burned.
Arden
Blackwing Lair Raider
- 2,647
- 1,940
