Bitcoins/Litecoins/Virtual Currencies

Jackie Treehorn said:

Ethereum creeping to 3000 and MATIC is still hovering near 1.70. Gotta admit I’m a tinge curious myself about selling. I think if ETH breaks to 2900 and if by that time MATIC is *still* in the 1.60s I’ll probably sell on the precipice of god knows what.

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Moved all my Ethereum to Polygon for the moment (I consider it a loan and will move that money back to it later, hopefully at a lower rate). Did this at $3400/$2.41 respectively this afternoon. Eth has gone down while MATIC has been hovering around there since. No steep drops at least. We'll see how it goes over the next couple weeks.

For reference, before this, my first big MATIC buy was .97 and the second was 1.45 IIRC. So I'm way up. Adding my Eth to it at $2.41 might pay off, or it might not. I could move the Eth money back if I sense the current Eth crash is ending soon, or if it hits $2900. It's too bad I got Eth at 4k but I take the good with the bad. I could potentially undo that mistake by moving the money back to Eth at a lower point after it gains some ground in Polygon.

Rajaah said:

Moved all my Ethereum to Polygon for the moment (I consider it a loan and will move that money back to it later, hopefully at a lower rate). Did this at $3400/$2.41 respectively this afternoon. Eth has gone down while MATIC has been hovering around there since. No steep drops at least. We'll see how it goes over the next couple weeks.

For reference, before this, my first big MATIC buy was .97 and the second was 1.45 IIRC. So I'm way up. Adding my Eth to it at $2.41 might pay off, or it might not. I could move the Eth money back if I sense the current Eth crash is ending soon, or if it hits $2900. It's too bad I got Eth at 4k but I take the good with the bad. I could potentially undo that mistake by moving the money back to Eth at a lower point after it gains some ground in Polygon.

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Do you think you're too casual with your losses?

I got into BTC at $60k and when I was looking at the SMA's I knew it wasn't a good time to get in, but I had FOMO.

FOMO trading is something I now detest bc it made me lose money and was 100% avoidable. But, you seem to live and die off FOMO. Do you see it? If you do why aren't you trying to change the way you trade?

It's a kind-hearted joke that you signal losses to the forum, but you're also incredibly casual about losing money. Too casual, imo. Not that losing is wrong, but rather having a losing strategy is wrong.

Rajaah said:

Moved all my Ethereum to Polygon for the moment (I consider it a loan and will move that money back to it later, hopefully at a lower rate). Did this at $3400/$2.41 respectively this afternoon. Eth has gone down while MATIC has been hovering around there since. No steep drops at least. We'll see how it goes over the next couple weeks.

For reference, before this, my first big MATIC buy was .97 and the second was 1.45 IIRC. So I'm way up. Adding my Eth to it at $2.41 might pay off, or it might not. I could move the Eth money back if I sense the current Eth crash is ending soon, or if it hits $2900. It's too bad I got Eth at 4k but I take the good with the bad. I could potentially undo that mistake by moving the money back to Eth at a lower point after it gains some ground in Polygon.

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My play...I got a $30,000 loan of USDT from $2.38 MATIC...converted it to MATIC...now I'm going to wait for MATIC to get up to 4, if not 5 (depending on how strong it looks) and repay the loan.

If MATIC goes up to 5, I'll net around 6000 coins.

James said:

My operating theory is first mover advantage for an Ethereum scaling solution. It's really the only L2 solution up and running right now, I suspect it will remain strong through this summer but zkSync and Optimism are both technically superior solutions that may end up stealing the show.

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What's the expected value come end of summer? Should I double down on my investment or just let my initital $500 investment at $0.38 ride?

I'm thinking about it this way...

Ethereum 2.0 fully coming into play is like what, a couple of years off? Even more than that? Less? Polygon / L2 in general is going to become ensconced in the world of crypto before Ethereum itself solves what L2 does. By the time Ethereum is as cheap to use as Polygon...where is Polygon going to be technologically then? Maybe it does (whatever more than it does now.) And how fast are people going to just dump it and move to Ethereum? It seems like a matter of who wins the race first.

From what I've read, and maybe this is just from people who are pumping it, but it's frequently stated that Vitalik and Ethereum devs have said that L2 is needed into the future to keep Ethereum scaling - - not sure how totally true that is, but I see it a lot.

Long story short - - obviously we want Ethereum to win this thing over all - - but Polygon I think is going to take some major market share in the next couple of years, and thus will do more with my money than just investing in Ethereum would.

I will say it's tempting to convert the MATIC I have to almost THIRTY NINE! Ethereum right now...which is insane since I had started with 17 Ethereum back in April. The hope is by the end of this year I could be looking at converting my MATIC to even more Ethereum if I wanted to.

Tmac said:

Do you think you're too casual with your losses?

I got into BTC at $60k and when I was looking at the SMA's I knew it wasn't a good time to get in, but I had FOMO.

FOMO trading is something I now detest bc it made me lose money and was 100% avoidable. But, you seem to live and die off FOMO. Do you see it? If you do why aren't you trying to change the way you trade?

It's a kind-hearted joke that you signal losses to the forum, but you're also incredibly casual about losing money. Too casual, imo. Not that losing is wrong, but rather having a losing strategy is wrong.

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I'm casual with my losses because it's better than getting depressed. I definitely care about them and when they add up it bothers me. I got into this with the goal of making $1 in any given week (aka being in the green) and so far I've always pulled that off. In other words, I always make up the losses one way or another. That said, I'd have a lot more without those losses, and stuff like the recent Doge/COIN/Eth transactions adds up and bothers the shit out of me if I let it.

Also helps that for a while I largely worked with smaller numbers (aka investments topped out at $1k) so losses aren't crushing. I started even smaller than that ($300 usually). It's only the past month where I've been putting any major funds into this stuff, with VET, Eth, now MATIC. If it goes off a cliff it'll definitely hurt since I'm doing more than dipping my toes in now. However I'm trying to maintain that same level head I had when I was just using smaller amounts. (Well, mostly, a couple times I flipped out at what I saw as bad luck).

FOMO trading is also something I hate because it rarely goes well. I have a knack for jumping into things right before their decline and bag-holding (GME, Doge x2). I'd rather look at "big picture" holdings. I had a big win on Bitcoin early on but I haven't had any BTC since then because I don't have confidence in it long-term. I try to avoid FOMO but sometimes you've got things with great potential that come along and seem like a good idea.

Question...

How big of an advantage is it to stake your own 32+ Ethereum vs. the pools where people have lower numbers? Is it substantially more interest? Just advantageous because you aren't committing your coins to someone else?