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Bitcoin-Explain to me how to buy these things (4 Viewers)

Captain Cranks said:
At this moment?  Not really.  Axie was the first compelling PtE game and it's not anything special.  However, it's awoken the industry, especially those in crypto.  

While it "wouldn't be very hard" for games to incorporate NFTs doesn't mean it's going to be easy or that it can happen quickly.  You're asking a centralized company who makes a lot of money selling in game assets (that was Fortnite's whole model) to give up control and its revenue stream.  Some will be quicker to act than others, but we're already seeing some dragging of feet by companies such as Valve.
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Why would they have to give up control? They’d be like the artists selling the NFTs and they’d likely come up with a model where they get X up front and Y% on resales. They’d have to figure out the amounts so they’d maintain the revenue or increase it since more people might pay for an extra 5 skins if they knew they could also resell it later.

Your comment on the not compelling part is what I thought. Axie’s market cap is about half of Take Two’s and Take Two has thousands of employees, hundreds of millions of customers and many games like GTA. I know I’m not supposed to compare market caps but I am because unlike currencies, a coin built around an online game isn’t all that intangible.

 
stbugs said:
Why would they have to give up control? They’d be like the artists selling the NFTs and they’d likely come up with a model where they get X up front and Y% on resales. They’d have to figure out the amounts so they’d maintain the revenue or increase it since more people might pay for an extra 5 skins if they knew they could also resell it later.
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They'd have to give up control because that's what they're competing against.  If I have two identical options and the only difference is one gives me a say in how earnings are reinvested/distributed while the other is controlled by a small few who own the company, then it's not a difficult decision.  

Ultimately, you're right, the product has to be compelling.  However, I think you'd be making a mistake by assuming only the elite centralized gaming studios are capable of creating them.

How many people are/were addicting to Clash of Clans, Golf Clash, Angry Birds, Slither.io, etc.  These aren't AAA, need a ton of artists and time to develop.  They're catchy games whose addiction and network effects lead to a ton of players.  When I was playing Golf Clash, I would talk to people in my clan who would spend $100s, if not $1,000s a month to play.  

Golf Clash 

 
if you have ADA you have not staked you may want to do so soon.

sundaeswap is a DEX that's going to be opening on the Cardano chain, and they are offering an ISO airdrop to certain stake pools.

I had no idea what most of those words meant when I woke up this morning, but I wanted to pass that along to anyone in this thread who may be interested.  

 
amnesiac said:
if you have ADA you have not staked you may want to do so soon.

sundaeswap is a DEX that's going to be opening on the Cardano chain, and they are offering an ISO airdrop to certain stake pools.

I had no idea what most of those words meant when I woke up this morning, but I wanted to pass that along to anyone in this thread who may be interested.  
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About to pull the trigger on selling the ADA I have left.  To my decidedly amateur eye, it dropping below about $1.85 leaves it with around $1.67, right where it is now, as the final (weak) support.  If it bounces here, great, but it would need to get back above that $1.85 mark for me to feel good about it again. If it keeps trending down, time for me to get out and lock in the profits I have left.

 
SFBayDuck said:
About to pull the trigger on selling the ADA I have left.  To my decidedly amateur eye, it dropping below about $1.85 leaves it with around $1.67, right where it is now, as the final (weak) support.  If it bounces here, great, but it would need to get back above that $1.85 mark for me to feel good about it again. If it keeps trending down, time for me to get out and lock in the profits I have left.
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im at the point where like 70% of my portfolio is BTC/ETH and I’d probably just let the other 30% go to zero before I sell in the hopes it eventually hits big.  
 

ADA/SOL my next biggest chunk though so I could be convicted to move some of that into something else to gamble on

 
Also I don’t really do much research, other than what I see here and the occasional dart throw it’s more of a hobby than an investment for me

 
SFBayDuck said:
About to pull the trigger on selling the ADA I have left.  To my decidedly amateur eye, it dropping below about $1.85 leaves it with around $1.67, right where it is now, as the final (weak) support.  If it bounces here, great, but it would need to get back above that $1.85 mark for me to feel good about it again. If it keeps trending down, time for me to get out and lock in the profits I have left.
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It's definitely lost its pre-smart contract luster.  I think there is technical support at $1.50-55 range so I'm not bailing yet, but things aren't looking great in the short term.  

 
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Captain Cranks said:
It's definitely lost its pre-smart contract luster.  I think there is technical support at $1.50-55 range so I'm not bailing yet, but things aren't looking great in the short term.  
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to me, it’s always been a long term play. 
 

it’s definitely a boom or bust play, but to me the upside is gigantic.  

 
SFBayDuck said:
About to pull the trigger on selling the ADA I have left.  To my decidedly amateur eye, it dropping below about $1.85 leaves it with around $1.67, right where it is now, as the final (weak) support.  If it bounces here, great, but it would need to get back above that $1.85 mark for me to feel good about it again. If it keeps trending down, time for me to get out and lock in the profits I have left.
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what price did you get in, if you don’t mind me asking?

 
amnesiac said:
what price did you get in, if you don’t mind me asking?
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Coinbase sure makes it hard to determine your cost basis, but I bought it 10 times ranging from a high of $2.04 on down to $1.14. And I sold half at $2.46.

Important context - I’m super small time compared to lots of people in this thread, so listen to them, not me. 

 
Dan Lambskin said:
im at the point where like 70% of my portfolio is BTC/ETH and I’d probably just let the other 30% go to zero before I sell in the hopes it eventually hits big.  
 

ADA/SOL my next biggest chunk though so I could be convicted to move some of that into something else to gamble on
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Every day that goes by I tend to lean in this direction. You have to be all in to stay on top of it…and it’s 24x7…all day every day and holidays and things move fast. 

 
Captain Cranks said:
They'd have to give up control because that's what they're competing against.  If I have two identical options and the only difference is one gives me a say in how earnings are reinvested/distributed while the other is controlled by a small few who own the company, then it's not a difficult decision.  

Ultimately, you're right, the product has to be compelling.  However, I think you'd be making a mistake by assuming only the elite centralized gaming studios are capable of creating them.

How many people are/were addicting to Clash of Clans, Golf Clash, Angry Birds, Slither.io, etc.  These aren't AAA, need a ton of artists and time to develop.  They're catchy games whose addiction and network effects lead to a ton of players.  When I was playing Golf Clash, I would talk to people in my clan who would spend $100s, if not $1,000s a month to play.  

Golf Clash 
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I will add my apology here as I typed all of this during my Thanksgiving morning dump so a little long! Happy Thanksgiving to all!

—————

I’m not sure we are saying the same control. What I’m saying is that if I am Take Two and I own GTA and for GTA 6 (I think that’s next) I decide that all in game purchases are done via a Thieves coin on my blockchain, I still get paid for the skin up front by people transferring ETH to THVS to buy the skin and I also get a % of any resale. I set the initial prices and resale % up to try and match or do better than they currently do without NFTs. Control to me means they still make money on the NFTs like any other NFT creator. It seems like existing video games could move to that model and still make the same money. Just because the in game purchases are NFTs doesn’t mean you lose control/money, it just means you are placed into a resale environment. People aren’t getting NFTs for nothing. Even Axie  still dictates what NFTs will make it into their game, it has to be coded in that way. The guy who bought Beeple’s NFT can’t just hang it on a wall in Neo Tokyo unless that’s allowed in the game.

Anyway, yes, new games come along and are compelling and people pay lots of money. There are some big game companies that were created from app games like Zynga. There will be new ones created and maybe it will be some based on crypto and it will be a virtual company with founders having coin shares instead of stock shares. I don’t doubt new ones will come along. I just look at the big picture and think that a few percent of the coins will make it and the vast majority won’t. I don’t think the FOMO has scaled that reality in like with SPACs. History showed that 90 or 95% of SPAC companies ended up worthless and back in January they were all priced as if all of them had been successful. Not so much now.

I will also say your Golf Clash game is a level above some of the games worth hundreds of millions even billions already solely because of FOMO and not because it’s really fun breeding animals with nothing else. Even the farm apps had way more than just that.

Last note on your first analogy. If GTA doesn’t do NFTs but a ####ty game does, do you really think people will walk away from GTA because they don’t have control over in app purchasing and can’t resell their cool Fonzi leather jacket (yes, I don’t play GTA)? Your example shows that it’s the game. People have no problem throwing money at apps like Golf Clash even though they know they can’t use it elsewhere. That seems to invalidate the thought that they will decide on games based on the ability to own and resell skins.

As an investor, I’m interested in how long a leash these coins will get and when people will tire of them and move on to the next big thing. Is it going to be like stock IPOs, continuous churn for the new guys and hope you hit? How early will we know the winners?

 
Captain Cranks said:
Who's going black Friday shopping?  Everything in the store is 10-20% off.
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Yep.  I have a big deposit clearing tonight, so will be implementing a bunch of stuff.  No telling what happens after this, but a good sharp drop feels like a good spot to throw some money in.

 
Swaymoney said:
Anyone buy litecoin?  I think instead of starting up with coinbase or Robinhood, I'm just gone split buying BTC and ETH.
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I bought in via PayPal and had it for over a year. I sold it a few weeks ago. It hasn’t been a ‘to the moon’ shot but a nice, steady returner. 

 
I wish we talked a bit more about the Facebook/Meta tokens that may be effected.  There was alot of money to be made there

 
KGB said:
Ive been buying since the 50's that I posted in here.  I've made aboput 10 buys and love it @ $.69 where it is now.

I may even move more into it.  im also staked for 90 days  all on the crypto.com app
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Appreciate  the response! I have 1,000 @ .58 and have been reading good things but wanted some feedback opinion here.

 
Is anyone buying ANKR?  It took a bit of a hit in the last day, but articles I’ve read say it could be a great longer term play.

 
So I set up a number of stakes and farms this weekend (quick 10% loss thanks to the market, sigh).

One thing that classified for me is the one lend-borrow I did is that if you borrow a risk asset (anything but a stablecoin) you're shorting it.  I got a bit lucky and realized that this morning and unwound that position and made about 15% on the deal.  I rewound it and put the risk asset at the end of the chain and now it's a long, which is what I had intended.

Onward and hopefully upward!

 
Sand said:
So I set up a number of stakes and farms this weekend (quick 10% loss thanks to the market, sigh).

One thing that classified for me is the one lend-borrow I did is that if you borrow a risk asset (anything but a stablecoin) you're shorting it.  I got a bit lucky and realized that this morning and unwound that position and made about 15% on the deal.  I rewound it and put the risk asset at the end of the chain and now it's a long, which is what I had intended.

Onward and hopefully upward!
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I dont know about this.  

Can you expand?

 
JoeSteeler said:
Appreciate  the response! I have 1,000 @ .58 and have been reading good things but wanted some feedback opinion here.
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CRO

I dont have any idea, but I just kinda think long term, as people get more and more into crypto, this may be the big winner.

The other thing I dont know is.....   Just because crypto.com does well as a company, why should that effect the coin though?  It's not a stock...  they are not really related, although I think they will be related.  and obviously as people sign up for the app, they will be pushing their coin.

 
KGB said:
CRO

I dont have any idea, but I just kinda think long term, as people get more and more into crypto, this may be the big winner.

The other thing I dont know is.....   Just because crypto.com does well as a company, why should that effect the coin though?  It's not a stock...  they are not really related, although I think they will be related.  and obviously as people sign up for the app, they will be pushing their coin.
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I just saw the commercial with Matt Damon. It kinda moved

 
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Reactions: KGB
KGB said:
CRO

I dont have any idea, but I just kinda think long term, as people get more and more into crypto, this may be the big winner.

The other thing I dont know is.....   Just because crypto.com does well as a company, why should that effect the coin though?  It's not a stock...  they are not really related, although I think they will be related.  and obviously as people sign up for the app, they will be pushing their coin.
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most on here  likely already know this but I didn’t until a couple days ago

https://dot.la/staples-center-becomes-crypto-arena-2655753524.html

 
KGB said:
I dont know about this.  

Can you expand?
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There are lend-borrow sites out there.  Aave (big one), TraderJoe, Tranquil Finance.  There are also leveraged sites like Alpaca and Alpha Homora v2.

I went in to Tranquil, deposited 1USDC, borrowed ONE, flipped that for more 1USDC, and redeposited that.   Something like 45% return.  Problem with borrowing ONE is that to pay it back it's in coin space, not fiat.  So if the price rises it takes more to pay back.  Like I said, luckily for me ONE crashed a bit between Friday night and noon today.  So I bought it back and am about 15% to the good.  Could have easily been the opposite.  Now I have rearranged - deposit 1USDC, borrow 1USDC, flipped that for ONE and deposited that.  I am bullish on ONE, so this gives me 22% or so profit to hold ONE.  As long as USDC doesn't depeg allis fine for a long hold here.  (Note that 1USDC is USDC on the ONE network, so you cant just shoot USDC in there and have it work).

On tranquil I'd really like to run 1USDC and flip for 1USDT and deposit that, but the costs to buy 1USDT are currently outrageous - like 30% slippage.  

As a strategy if there are farming tokens that can be borrowed like this it's probably a good idea.  I'd expect most of those to be inflationary and dilute themselves, so that would be a good bet for most (except outliers like JEWEL or JOE).

 
  • Thanks
Reactions: KGB
Sand said:
There are lend-borrow sites out there.  Aave (big one), TraderJoe, Tranquil Finance.  There are also leveraged sites like Alpaca and Alpha Homora v2.

I went in to Tranquil, deposited 1USDC, borrowed ONE, flipped that for more 1USDC, and redeposited that.   Something like 45% return.  Problem with borrowing ONE is that to pay it back it's in coin space, not fiat.  So if the price rises it takes more to pay back.  Like I said, luckily for me ONE crashed a bit between Friday night and noon today.  So I bought it back and am about 15% to the good.  Could have easily been the opposite.  Now I have rearranged - deposit 1USDC, borrow 1USDC, flipped that for ONE and deposited that.  I am bullish on ONE, so this gives me 22% or so profit to hold ONE.  As long as USDC doesn't depeg allis fine for a long hold here.  (Note that 1USDC is USDC on the ONE network, so you cant just shoot USDC in there and have it work).

On tranquil I'd really like to run 1USDC and flip for 1USDT and deposit that, but the costs to buy 1USDT are currently outrageous - like 30% slippage.  

As a strategy if there are farming tokens that can be borrowed like this it's probably a good idea.  I'd expect most of those to be inflationary and dilute themselves, so that would be a good bet for most (except outliers like JEWEL or JOE).
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you need a you tube channel 💖

 
I had moved quite a bit of the "family" account (not trading often and original hex stake) into ETH for awhile while HEX crashed.

Just purchased quite a bit of HEX right now with it to get back in at hopefully the bottom

HEX (HEX) HEXPrice  $0.171108

 
Captain Cranks said:
@Chaos Commish$IMX and $HERO are killing it.  Both just got listed on Kucoin.  
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yup. I am making a nice recovery atm. but i will try very hard to be vigilant about moving into stables next time we sniff a bear. hero has flipped eth sol and cake in my index fund. up 3000%+ and my second largest holding after btc. I like it. it is still a long term play but they are way ahead of the road map posted when i jumped in on the pre-sale. 

i woke up chuckling at one of my favorite follows, adam back, yelling at the world to stop selling btc because Saylor is going to buy all of it!!! haha. michael just bought 7k more btc for microstrategy. 

anyway, i have four songs to draft. stop bothering me. 

 
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