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Bitcoin-Explain to me how to buy these things (3 Viewers)
- Thread starter Sheriff Bart
- Start date
Captain Cranks
Footballguy
Chaos Commish
Footballguy
So here's another exciting new project not controversial at all. A couple weeks ago Hotchkinson/ada took heat on the socials for failing to make another stated deadline. His ten minute reply to the trolls wasn't very confident. He's one of the reasons I worry about ada (still 25% of my holdings). Genius crypto developer or snake oil salesman? Bit of both? I think so.
The trolls were hammering him for promising 1000s of viable projects on ADA by the date they started trolling him. His reply was shaky and he told a few lies defending ADA's projects. It wasn't his best moment and in the comments many ADA owners were more concerned than me. Predicting mass chaos behind the scenes and other ada fud.
But it got me looking at what is actually happening with builds on ADA. I think "viable" applies to about a dozen, not a thousand.
I've mentioned SundaeSwap and I expect it to pull me away from PancakeSwap as soon as it's good to go. I am tired of Binance for a list of reasons.
But the project that will get me off the centralized exchanges and maybe unbank me is Meld.
You can already stake Meld. That ada Dan guy I've linked to a few times who always pitches his ada pools recently lamented the loss of his biggest whale. Guy pulled a couple million out of Dan's pool and staked his ada to meld. My ada is in Atomic Wallet's pool, so I have an extra hoop to jump through by not using an ada wallet. I'm doing this for sure. Just deciding what % of my ada i want staked to Meld. Could be 100%, but more likely 50%. This is the type of thing ada has always promised and here it is.
The trolls were hammering him for promising 1000s of viable projects on ADA by the date they started trolling him. His reply was shaky and he told a few lies defending ADA's projects. It wasn't his best moment and in the comments many ADA owners were more concerned than me. Predicting mass chaos behind the scenes and other ada fud.
But it got me looking at what is actually happening with builds on ADA. I think "viable" applies to about a dozen, not a thousand.
I've mentioned SundaeSwap and I expect it to pull me away from PancakeSwap as soon as it's good to go. I am tired of Binance for a list of reasons.
But the project that will get me off the centralized exchanges and maybe unbank me is Meld.
The really big deal here is fiat on and off ramps in a non-custodial fully decentralized banking ecosystem. It's sort of the holy grail to me as I want to do what Satoshi said, and be my own bank. Not your keys, not your money. And ya know, screw what the custodians have done with our money forever.
You can already stake Meld. That ada Dan guy I've linked to a few times who always pitches his ada pools recently lamented the loss of his biggest whale. Guy pulled a couple million out of Dan's pool and staked his ada to meld. My ada is in Atomic Wallet's pool, so I have an extra hoop to jump through by not using an ada wallet. I'm doing this for sure. Just deciding what % of my ada i want staked to Meld. Could be 100%, but more likely 50%. This is the type of thing ada has always promised and here it is.
Captain Cranks
Footballguy
I've taken a dive into the NFT/gaming space recently after researching ILV a bit. Some believe gaming will be what truly fosters mass adoption of crypto across the world. We're beginning to see what's called a Play-to-Earn model with games like Axie Infinity where you can earn in-game NFTs that are yours to trade or sell on open marketplaces.
The model works like this: The game is free to play. If you didn't want to spend any money, you could "grind" and earn character, skins, weapons, etc. (these are NFTs) by playing the game and leveling up. You've now 'earned' something of value that's yours. It's not the games. You can sell it, trade it, keep it, whatever. If you do sell it, the game developer gets a small percentage of the sale (I've seen 2.5%). These NFTs are limited, so there's scarcity value and if something is in high demand, it can really go up in value.
So who are you selling high value NFTs to? Whales, or people with money who don't want to "grind" and just want to buy the best to compete in the game. There are a ton of details I'm leaving out, but hopefully you get the picture.
As for other investments in this space, I've got my eye on Gala Games $GALA who is headed by the founder of Zynga and has brought on some experienced people in the gaming industry including a guy from Electronic Arts. They have an intriguing game called Mirandus currently in the pipeline.
There's also a new game in beta called Blankos by Mythical Games that could be huge. There doesn't appear to be a Mythical Gaming token, but you can buy the NFTs on Blankos.com and even begin earning NFTs by playing the beta version.
The model works like this: The game is free to play. If you didn't want to spend any money, you could "grind" and earn character, skins, weapons, etc. (these are NFTs) by playing the game and leveling up. You've now 'earned' something of value that's yours. It's not the games. You can sell it, trade it, keep it, whatever. If you do sell it, the game developer gets a small percentage of the sale (I've seen 2.5%). These NFTs are limited, so there's scarcity value and if something is in high demand, it can really go up in value.
So who are you selling high value NFTs to? Whales, or people with money who don't want to "grind" and just want to buy the best to compete in the game. There are a ton of details I'm leaving out, but hopefully you get the picture.
As for other investments in this space, I've got my eye on Gala Games $GALA who is headed by the founder of Zynga and has brought on some experienced people in the gaming industry including a guy from Electronic Arts. They have an intriguing game called Mirandus currently in the pipeline.
There's also a new game in beta called Blankos by Mythical Games that could be huge. There doesn't appear to be a Mythical Gaming token, but you can buy the NFTs on Blankos.com and even begin earning NFTs by playing the beta version.
amnesiac
beer is good
Captain Cranks
Footballguy
Excellent project and another I have an investment in. It is a higher market cap project, though, so I see the upside is somewhat limited (only a measly 10X) when compared to the others I mentioned (20 - 100X or more).
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RC94
Footballguy
I bought some bitcoin and for a while it was up. My total investment is $2500 and at one point it was over $3000. Now it's worth $1400. I'm thinking about just sucking it up, selling my shares and taking the loss, and moving on from this steaming pile.
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psychobillies
Footballguy
I finally kind of figured out what a blockchain is, and now you guys start speaking another language entirely. I very much appreciate the effort and advice you guys are putting out here, but this last page or two has gone over my head.
I figure, much like BTC, if I just keep reading and clicking on some links, I'll pick it up eventually.
I figure, much like BTC, if I just keep reading and clicking on some links, I'll pick it up eventually.
Captain Cranks
Footballguy
Exactly. As with anything, once you match up enough puzzle pieces the picture becomes much clearer.
Speaking of which, this is a nice primer for the $ILV project I mentioned as well as how the economics of blockchain games in general work. I'm excited about this token. Illuvium
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KGB
Footballguy
I'm self employed with no employees. Subscribe.
Although I just switched to an scorp and now get a paycheck, so I'm not sure
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amnesiac
beer is good
gotcha. yeah, i'm trying to take a more "conservative" approach.
("conservative crypto approach" is probably a contradiction of terms.)
KGB
Footballguy
Captain Cranks
Footballguy
Yeah, I think the most conservative thing you can do in crypto is be diversified. I think ENJ has just as good a possibility at shaving 80% from here as any other coin not named BTC and ETH.
The Holy Grail in the crypto gaming space would be to back the next Fortnite. Epic Games was valued at $29 billion in April. For $ILV to get to $29B is a 500X (not considering dilution which you would combat through staking). For ENJ to get to $29B is a 36X. In risk/reward terms, is the downside component in ILV that much greater than ENJ? I'm not sure ENJ even develops games rather than supplies NFT bolt-ons for other game developers.
Honestly, I'm thinking out loud at this point and would be happy to be corrected on anything.
Captain Cranks
Footballguy
Chaos Commish
Footballguy
When I wrote the long congrats post he was at 120k. He's still killing it. With hex there's not a reasonable way out of these time deposits. Set it forget it buy a Lambo later.
Hex has had some volatility, but nothing like most, and always trending up. The bear and pulse is a double whammy. Pulse sacrificing has a few days to go, then that problem is solved. The bear might be around for awhile.
Captain Cranks
Footballguy
The safest behind those coins, imo, are the next gen ecosystem coins like ADA, DOT, SOL, and ATOM. They'll be the universe in which all the other apps like gaming and defi reside.
amnesiac
beer is good
i'm trying to focus on projects that have the possibility to ramp up on a large scale. in enjin's case, i could envision a scenario where they work with hundreds of games. vechain could work with almost any retail supply chain. cardano could end up being a part of almost everything.
in theory, i'm betting on the industry as a whole, vs. a specific game.
amnesiac
beer is good
i've got some ADA. i've looked into ATOM. i'll take a closer look at DOT and SOL.
Chaos Commish
Footballguy
Nice bounce for everything atm.
My MetaHero is up 115% in 2 weeks. It was up 95% yesterday while everything was bearish. I like this one guys. It and ecomi were my ventures into gaming/nfts when I felt like I just whiffed on that space. Both are nfts with gaming implications. MetaHero still 2500 or so in market cap, but not for long, I think.
Even my oversold already-mooned HEX is up. I think KGB landed on a beaut here for those with real patience to hold. Ridiculous it could hold strong with how much has been sacrificed into Pulse. I staked at .1377 it fell to .11 and is .1483 atm.
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Chaos Commish
Footballguy
FTX wins biggest round of funding in crypto history. Richest crypto billionaire owner buys alot of BTC at 30k.
Could have something to do with this bounce?
Could have something to do with this bounce?
Captain Cranks
Footballguy
Nice little relief rally. I need a few more days like this so I can unload all the microcap garbage I accumulated over the last few months.
Chaos Commish
Footballguy
I like my microcap garbage. Every time I start to dump one (for more sacrificing or free pERC-20s)), I remember why I liked it and hodl. The ones I want to dump are so far down it makes me hesitate. How many times we see one take a beating, become a bargain, and skyrocket? I'm going to have 40 cryptos in my portfolio if I don't start cleaning house. I probably need a week at the beach without looking at this ####.
Captain Cranks
Footballguy
Ha. That's my problem. I kept buying random crap in April/May so now my Kucoin is filled with 20 projects I have no interest in. I'd rather get some money back on them and use it towards projects I actually take the time to research.
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Chaos Commish
Footballguy
AND!! The max contribution in the Solo 401k was 64,500. That rollover is hitting soon. A fresh start from fiat to unlimited tax free trading. I'm not even close to an allocation decision or even an assets decision. I guess for starters I'll put it all in eth based PoS projects (to avoid gas) and wait for the free coins from Pulse's airdrop. I need a list of those.
KGB
Footballguy
@Chaos Commish
#pulse
Went in for 4k yesterday. Cashing out 21k of RIOT to put into pulse.
Lets do this buddy!
#pulse
Went in for 4k yesterday. Cashing out 21k of RIOT to put into pulse.
Lets do this buddy!
2Squirrels1Nut
Footballguy
Intersting. Was already kicking around adding to Draftkings with football right around the corner.Chaos Commish said:
Captain Cranks
Footballguy
Did anyone watch the B-Word segment with Musk? In between all of his marble-mouthed rambling were some pretty good tidbits that explain his actions over the last few months. The first thing he mentioned was that BTC becomes more energy intensive as the price goes up. More energy use means more coal usage and that goes against Tesla's ethos. To me, that was a big tell that he was getting board or shareholder pressure on their decision to accept BTC.
Second, he mentioned that he has his own version of Occam's Razor which is that the most entertaining outcome is the most likely. That certainly explains his Dogecoin antics as there is a part of him that thinks it would be fun for an ironic meme coin to become the world's digital reserve currency.
What this guy is not is naive to BTC. He definitely understands the technology and the whole, 'gee, I didn't know BTC was bad for the environment' is nothing but an act.
Second, he mentioned that he has his own version of Occam's Razor which is that the most entertaining outcome is the most likely. That certainly explains his Dogecoin antics as there is a part of him that thinks it would be fun for an ironic meme coin to become the world's digital reserve currency.
What this guy is not is naive to BTC. He definitely understands the technology and the whole, 'gee, I didn't know BTC was bad for the environment' is nothing but an act.
beer 30
Footballguy
There is a radio commercial playing now where the boss tells his employees that they are all going to be paid in wildly volatile cryptocurrency, immediately telling them, "you're all billionaires!" followed closely by "...and now you're broke again".
I always think of this thread and chuckle.
amnesiac
beer is good
beer 30
Footballguy
Chaos Commish
Footballguy
Well, jmho, but I think he was naive until he got his recent education. He enthusiastically buys 1.5 billion in btc and announces Tesla will take it for purchases. His investment soars. Less than 2 weeks later he reverses the option based on issues contrary to his ethos. His investment tanks.
Cathie Wood, founder of Ark Invest who's kept Elon solvent a half dozen time, openly chastises his opinion and calls it uneducated and reports Ark is investing in BTC. Then she gets on her jet and flies to Reno where Elon gets a two day come to Jesus education. He announces Tesla will take BTC when mining is 50% renewable. China shuts down its miners who are 95% coal based and BTC goes right over 50%. Elon is trolled on this but stays quiet until he tweets he's getting an education on alts.
Now quoting you, "The first thing he mentioned was that BTC becomes more energy intensive as the price goes up. More energy use means more coal usage and that goes against Tesla's ethos." Well, he's right, but he's wrong if the thinks it will drive mining over 50%. Renewables are dominating new installations and China's lost 60%+ of all mining is not going to burn more coal.
It doesn't take but a few hours to get educated. Sure seems he wasn't when this stuff started, but he sure is now. He likes XRP alot, btw. Kind of entertaining. Mark Cuban travelled a similar route until NFTs blew him away, and now both these guys big brains know more than us. None of this is important, but it's kinda cool history.
Harry Frogfish
Footballguy
What's the story on Cuban and NFTs, CC?
Chaos Commish
Footballguy
Somewhere he said if was just starting out he would be "going crazy" for NFTs.
If he was to start from scratch today, he would build a business centered on NFTs.
When he tweets about crypto lately it is usually pro NFTs.
I first learned of his excitement when he said the Mavericks were going all in from player-based NFT collectibles to ticketing and more. About a year ago.
Loved TopShot from the start.
This interview goes a little deeper into his thinking.
All that is 2020-2021 stuff. I said he travelled a similar path as Elon because back in 17 he said the whole space was exactly like the dotcom bubble. So before there was Elon, there was Mark, and the market dropped behind both of them.
Chaos Commish
Footballguy
This story was in the sidebar when I dug up links for the above. So is Cuban really up to speed? With NFTs absolutely. But the article (early April) made me chuckle at him again. Talking ETH:
Sorry Mark, there's 50+ better options than ETH as a true currency. The gas, the congestion, the long road to 2.0, slow transactions, etc. - ETH is an impractical currency. Probably a solid investment (I'm bullish atm), but even BTC (also not good) with Lightning Network is better than ETH. Stable coins fueled by instantaneous ultra low-fee transactions available from Dot, Sol, Trx, Algo etc., make sense. Projects like Celo focused on cross-border point of sale transactions might be best of all. Celo has Google, Amazon, BofA, Capital One, Visa, MIT, Harvard, Stanford, The Fed, The US Department of Justice, The World Bank, Bill Gates... and more on board for various reasons/functions.
So Cuban has lots of bitcoin and eth and is all about nfts, but perhaps hasn't explored much else. I'm sure his defense would be "in time" Eth will be best. That's doubtful. It's too far behind and not Eth's thing.
Again none of this matters. I really want to Pulse-spam this thread today and writing this stopped me.
Sorry Mark, there's 50+ better options than ETH as a true currency. The gas, the congestion, the long road to 2.0, slow transactions, etc. - ETH is an impractical currency. Probably a solid investment (I'm bullish atm), but even BTC (also not good) with Lightning Network is better than ETH. Stable coins fueled by instantaneous ultra low-fee transactions available from Dot, Sol, Trx, Algo etc., make sense. Projects like Celo focused on cross-border point of sale transactions might be best of all. Celo has Google, Amazon, BofA, Capital One, Visa, MIT, Harvard, Stanford, The Fed, The US Department of Justice, The World Bank, Bill Gates... and more on board for various reasons/functions.So Cuban has lots of bitcoin and eth and is all about nfts, but perhaps hasn't explored much else. I'm sure his defense would be "in time" Eth will be best. That's doubtful. It's too far behind and not Eth's thing.
Again none of this matters. I really want to Pulse-spam this thread today and writing this stopped me.
Captain Cranks
Footballguy
BTC is considered the original cryptocurrency. All other cryptocurrencies are considered alternatives to Bitcoin, thus altcoins. Stablecoins are a segment of altcoins and their purpose is to track the value of fiat currencies such as the USD or Euro. There are other segments of altcoins such as ecosystem crypto like ETH and ADA, Decentralized finance crypto like AAVE and COMP, gaming and NFT crypto like ENJ and AXS, and ####coins like DOGE and SHIB who don't really have a focused purpose.
Great explanation!
What is an example of stablecoin that is in circulation?
Also, what would you say are the best uses cases of BTC, ETH and ADA?
KGB
Footballguy
Ok. 
I've decided to bang my fist on the table. I've sent my texts to my friends and here I will post 1 time about getting in...
https://pulsechain.com/
Research it, check it out, and buy it. It is risky, and I expect that risk to pay off.
I'm not an expert, make your own decisions.
for everyone I hope.
I've decided to bang my fist on the table. I've sent my texts to my friends and here I will post 1 time about getting in...
https://pulsechain.com/
Research it, check it out, and buy it. It is risky, and I expect that risk to pay off.
I'm not an expert, make your own decisions.
for everyone I hope.
Chaos Commish
Footballguy
You can lead a horse to......Ok.
I've decided to bang my fist on the table. I've sent my texts to my friends and here I will post 1 time about getting in...
https://pulsechain.com/
Research it, check it out, and buy it. It is risky, and I expect that risk to pay off.
I'm not an expert, make your own decisions.
1 hour before the next 5% rate increase. There will never be a better time to sacrifice. Tomorrow will still be very good. Day 19 will be very good. Just not as good as now.
KGB
Footballguy
KGB
Footballguy
Hell, I'm still trying to move money around to get all the way in., I wont make this increase. Hopefully ill be in the next one.
I have to go through coinbase and its taking 5-6 days to process since its more than 1K.
Chaos Commish
Footballguy
Again, it is highly advised to never leave crypto on the big exchanges. Get MetaMask and leave it there (or another non custodial wallet). Had you done so, you'd have sacrificed at a 25% better bonus. Note in the first paragraph on the sacrifice page -
Pulse is built from day one to work seamlessly with MetaMask first, other wallets later. If you scroll down past SensDude's testimonial about the millions and millions being donated to his research, there's a long paragraph explaining how to sacrifice without MetaMask. It's a workaround, not too complicated. It's deliberate. Pulse is trying to boost all things ETH with this fork, and Richard the founder despises Binance. So Binance's TrustWallet (which i use the most) is supported but with an extra step or two. So now all of my eth belong to metamask for this airdrop.
Chaos Commish
Footballguy
Also, if you, any of you, hold almost any eth-based crypto in a non-custodial wallet, you will get "pulse" copies air dropped to your wallets. Period. They will be worthless on day one, but 3 20+ million dollar whales are sure to kick off the trading. There's almost dozen 10+ million dollar whales and so on. Also also, if you don't "use" you pETH coins from the air drop in 30 days, you lose them. It's brilliant because using them forces them to attain some value. It's free money. So again get your ETH stuff off the exchanges, out of custodial wallets, and use metamask.
Captain Cranks
Footballguy
I did a bit of DD on PLS last night and am curious how large of a market cap you think this builds to and why? As of yesterday, it sounded like $700M had been sacrificed. Let's say it gets to $1B. In order for it to be a 100X investment, it needs to become the 3rd largest crypto in existence.
Captain Cranks
Footballguy
There are a few stablecoins pegged to the USD. USDT, USDC, BUSD, and DAI are the biggest examples. What's cool about stablecoins is the interest you can earn on applications like Block Fi. You can make 7.5 - 8.5% interest on your holdings. All you need to do is convert your cash into stablecoins at basically 1:1 and begin earning interest.
As far as best use cases, BTC is a bit of an outlier because it doesn't offer smart contract functionality (programmability) like the later generation blockchains such as ETH and ADA. Therefore, BTC is an excellent way to transfer money to anyone in the world quickly and securely without the need for an intermediary (bank), but it's too slow and simplistic to do more complicated transactions like loans. However, since there's a finite number of BTC that will ever exist, and it's the most renowned and reliable crypto, it's argued to be a great long term store of value relative to fiat (although its short term volatility tends to undermine that argument).
ETH and ADA offer smart contract functionality which opens up a whole other level of complexity. You can now attach information and rules to transactions which allows you to write applications that handle lending, decentralized exchanges, identity tracking, and the creation of non-fungible tokens (NFTs) that can be programmed to allocate and track ownership of a plethora of things from art to gaming assets to real estate.
A quick and dirty way to think about them is BTC is digital gold, ETH and ADA are versions of the internet of crypto, and blockchains like AAVE and ENJ are websites and applications that are plugged into those internets. Meanwhile, stablecoins are a digital bridge to the crypto space from our current fiat.
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