Cryptocurrencies Part III - We ran as if to meet the Moon

[What the Faulk]

First post in like 3 years

Good to see crypto come roaring back over the last couple of months. I got out in 2018 at a huge profit (thanks WTC), but not as much as it could have been. I got back in about a month ago, and I'm already seeing nice returns. Currently, I've only got a bit in ETH, BAND, UNI and NU, which is up 82% over the last 24 hours. I'd love to get in on things like LTO and a bunch of DeFi coins, but that's not easy for US customers, unfortunately.

@The Crypto Guy and others, shill me your best moon shots that are tradeable on Binance US.

 

[The Crypto Guy]

First post in like 3 years

Good to see crypto come roaring back over the last couple of months. I got out in 2018 at a huge profit (thanks WTC), but not as much as it could have been. I got back in about a month ago, and I'm already seeing nice returns. Currently, I've only got a bit in ETH, BAND, UNI and NU, which is up 82% over the last 24 hours. I'd love to get in on things like LTO and a bunch of DeFi coins, but that's not easy for US customers, unfortunately.

@The Crypto Guy and others, shill me your best moon shots that are tradeable on Binance US.

If we are excluding the obvious (Bitcoin and Ether), i would throw my hat in for Cardano. Wish i could buy some but in NY it's impossible.

 

[Juve]

@The Crypto Guy

I started by mining Rvn. Now I moved on to mining some Eth. It's super slow to reach the minimum of .05. Is there another sustainable coin that can be mined which has a decent price and is much faster?

 

[Gardner McKay]

@The Crypto Guy

I started by mining Rvn. Now I moved on to mining some Eth. It's super slow to reach the minimum of .05. Is there another sustainable coin that can be mined which has a decent price and is much faster?

Look into staking or being an LP (liquidity provider) vs. mining. As an LP you have to worry about impermanent loss but, I'd still prefer it to mining.

First post in like 3 years

Good to see crypto come roaring back over the last couple of months. I got out in 2018 at a huge profit (thanks WTC), but not as much as it could have been. I got back in about a month ago, and I'm already seeing nice returns. Currently, I've only got a bit in ETH, BAND, UNI and NU, which is up 82% over the last 24 hours. I'd love to get in on things like LTO and a bunch of DeFi coins, but that's not easy for US customers, unfortunately.

@The Crypto Guy and others, shill me your best moon shots that are tradeable on Binance US.

Haven't looked at Binance recently but ADA is solid as is Polkadot as a large cap. Polka offers cross-chain capabilities and will help a lot of projects that are currently suffering from outrageous gas fees on ETH network as it can bridge with ETH.

MATIC is an absolute moonshot, but if they could get enough liquidity... who knows.

I'm currently in a lot of small caps, SDX, Axion, PRY, BAO, ZEFU, RBC, BFLY right now in hopes that large cap/eth/btc money will flow into small caps in the next few months.

 

[What the Faulk]

Look into staking or being an LP (liquidity provider) vs. mining. As an LP you have to worry about impermanent loss but, I'd still prefer it to mining.



Haven't looked at Binance recently but ADA is solid as is Polkadot as a large cap. Polka offers cross-chain capabilities and will help a lot of projects that are currently suffering from outrageous gas fees on ETH network as it can bridge with ETH.

MATIC is an absolute moonshot, but if they could get enough liquidity... who knows.

I'm currently in a lot of small caps, SDX, Axion, PRY, BAO, ZEFU, RBC, BFLY right now in hopes that large cap/eth/btc money will flow into small caps in the next few months.

ADA keeps going up but...



No one is really using it?



That's not a problem for something with a small market cap, but Cardano is already up there.

You're outside the US, right? I'd love to get in on some of these moonshots, but I'm locked into Binance US and Coinbase without a VPN, or shelling out a ton in gas for Uniswap. Is there another option I'm overlooking?

 

[Gardner McKay]

ADA keeps going up but...



No one is really using it?



That's not a problem for something with a small market cap, but Cardano is already up there.

You're outside the US, right? I'd love to get in on some of these moonshots, but I'm locked into Binance US and Coinbase without a VPN, or shelling out a ton in gas for Uniswap. Is there another option I'm overlooking?

No, I am in the US. I use a VPN for some CEX's and just get rekt on trading fees on UNI for things I can't get elsewhere.

If I had to pick, I'd take Polka 10/10 over ADA. Their bridge capabilities could be an ETH killer, along with Binance chain.

 

[Juve]

I'll be receiving my first Eth payout today. I was thinking of trading it to get ADA. Is it still a good idea?

 

[What the Faulk]

I'll be receiving my first Eth payout today. I was thinking of trading it to get ADA. Is it still a good idea?

Personally, I'm not on things like ADA because the market cap is already so high. What can we realistically expect it to go to? Obviously no one knows and nobody thought Bitcoin would be 45k -- I just think if I'm gonna go with a high market cap, it's gonna be something safer and widely used like ETH. But I prefer moon shots with lower market caps for better gains. Definitely a lot riskier, but the reward is exponentially higher.

 

[What the Faulk]

No, I am in the US. I use a VPN for some CEX's and just get rekt on trading fees on UNI for things I can't get elsewhere.

If I had to pick, I'd take Polka 10/10 over ADA. Their bridge capabilities could be an ETH killer, along with Binance chain.

Do you worry about Binance (or whoever) somehow finding out and locking your account for violating their TOS? That's the main reason I haven't done it. If it was just a matter of them halting trading on my account, I'd be more willing to risk it.

For UNI, the fees are too much for me right now since I don't have much skin in the game and it's not really worth it (I've heard reports that fees can be $100+ during some busy periods?). I also haven't taken the time to understand how the UI works, but that's on me

 

[CokenoPepsi]

Ok, missed alot... But am in now and holding two ETH.

What a better hard wallet to have? Ledger or Trezor?

 

[The Crypto Guy]

Ok, missed alot... But am in now and holding two ETH.

What a better hard wallet to have? Ledger or Trezor?

Both get the job done. Not sure which is better.

 

[Gardner McKay]

Do you worry about Binance (or whoever) somehow finding out and locking your account for violating their TOS? That's the main reason I haven't done it. If it was just a matter of them halting trading on my account, I'd be more willing to risk it.

For UNI, the fees are too much for me right now since I don't have much skin in the game and it's not really worth it (I've heard reports that fees can be $100+ during some busy periods?). I also haven't taken the time to understand how the UI works, but that's on me

Well... for Binance I do use US. I use the VPN for others. If they locked my account I'd still be able to withdraw my funds (I try to stay away from shady exchanges). I don't keep a ton of my portfolio on there anyway.

And yes, on UNI I paid $75 for a trade. Not ideal if you are going to be making frequent moves

Ok, missed alot... But am in now and holding two ETH.

What a better hard wallet to have? Ledger or Trezor?

I agree with @The Crypto Guy Both will work. Ultimately I decided to go with Ledger for no reason other than I just thought the Trezor was ugly AF. Ledger is very sleek.

 

[Juve]

Look into staking or being an LP (liquidity provider) vs. mining. As an LP you have to worry about impermanent loss but, I'd still prefer it to mining.

I am still a noob a at this. What exactly is a Liquidity Provider? My whole goal was to not put my money into this and let my GPUs do the work.

 

[Gardner McKay]

I am still a noob a at this. What exactly is a Liquidity Provider? My whole goal was to not put my money into this and let my GPUs do the work.

I'll do my best to explain this without going down a rabbit hole.

Centralized exchanges like Binance, Kraken, etc. You aren't actually trading currency. You are trading numbers. They hold the coins in a central location until you click withdraw and then you receive the corresponding number of tokens.

On Uniswap and other decentralized platforms, you are actually trading the tokens when you make a trade. Find people who would want to trade exact amounts would be impossible. So what the Dex does is creates a pool of Ethereum and Token A. This way people can buy and sell quantities of Token A, and the pool manages it. Where does the pool or "liquidity" come from? Well, it comes from usually the starters of the project as well as people who hold the token. Why would they do this? Uniswap takes a .3% fee on each trade and distributes it to all those people who have provided liquidity (known as a Liquidity Provider). Its a way to earn passive income by staking your tokens.

It isn't risk free but it is an additional way to earn aside from GPU's.

 

[Juve]

I'll do my best to explain this without going down a rabbit hole.

Centralized exchanges like Binance, Kraken, etc. You aren't actually trading currency. You are trading numbers. They hold the coins in a central location until you click withdraw and then you receive the corresponding number of tokens.

On Uniswap and other decentralized platforms, you are actually trading the tokens when you make a trade. Find people who would want to trade exact amounts would be impossible. So what the Dex does is creates a pool of Ethereum and Token A. This way people can buy and sell quantities of Token A, and the pool manages it. Where does the pool or "liquidity" come from? Well, it comes from usually the starters of the project as well as people who hold the token. Why would they do this? Uniswap takes a .3% fee on each trade and distributes it to all those people who have provided liquidity (known as a Liquidity Provider). Its a way to earn passive income by staking your tokens.

It isn't risk free but it is an additional way to earn aside from GPU's.

I semi get it. It does looking an interesting way to make extra income other than mining. I just exchanged half of my first mined Eth for ADA. Once the exchange goes through I am staking it. I am also waiting for my ledger.

 

[What the Faulk]

Well... for Binance I do use US. I use the VPN for others. If they locked my account I'd still be able to withdraw my funds (I try to stay away from shady exchanges). I don't keep a ton of my portfolio on there anyway.

Binance US and Binance have vastly different assets available for trade, though. It seems everything I've been interested in trading has been on Binance and not the US version.

But that's a good point about just using them to trade. I have a bad habit of leaving my coins on exchanges. Binance and Bittrex and Coinbase etc are trustworthy, but then so was Mt. Gox at one point.



Anyone else have any opinions on NU? It's up another ~38%. It's gone from .16 to .83 this month (high of .91). Some of that was getting listed on Coinbase, but much more came after. The subreddit is shit.

 

[Gardner McKay]

Binance US and Binance have vastly different assets available for trade, though. It seems everything I've been interested in trading has been on Binance and not the US version.

But that's a good point about just using them to trade. I have a bad habit of leaving my coins on exchanges. Binance and Bittrex and Coinbase etc are trustworthy, but then so was Mt. Gox at one point.



Anyone else have any opinions on NU? It's up another ~38%. It's gone from .16 to .83 this month (high of .91). Some of that was getting listed on Coinbase, but much more came after. The subreddit is shit.

I've seen mostly positive things, although I can't say I have done much research myself.

I'm moving heavier and heavier into the PolkaDot ecosystem. Its going to be an ETH killer tbh.

 

[The Crypto Guy]

I've seen mostly positive things, although I can't say I have done much research myself.

I'm moving heavier and heavier into the PolkaDot ecosystem. Its going to be an ETH killer tbh.

Nothing will be an ETH killer at this stage.

 

[sigma six]

Am another crypto newb on the board who has been stuffing his head full of knowledge lately. There is so much to learn but I'm mad at myself for not taking all this seriously years ago.
Congrats to all of you who are enjoying the rush; I know enough to realize that what's going on with the massive gains in the past few weeks is pretty mind-boggling.

 

[Juve]

Conflux, Beam and Raven look interesting.

Looking at the numbers it looks like Conflux might be more profitable to mine that Eth because of the fees. According to What To Mine, I should be making 16$us worth of Eth a day and 12$us worth of Cfx with both my gpus. There is a difference of profitably between Eth and Cfx, but you don't pay the same amount of fees as you would with Eth.

 

[Soldier13Fox]

I was lucky enough to buy BTC this summer at around $10k, definitely should have bought more. General question, are us little guys still dollar-cost averaging into it even at $47k or are you all just hodling at this point?

 

[CokenoPepsi]

I'm just going to buy eth and hodl long time....some every pay consistently

 

[The Crypto Guy]

I'm just going to buy eth and hodl long time....some every pay consistently

Smart man

 

[Juve]

You guys and gals! I highly recommend checking out Rvn. I know I am new but I do see the high potential in the project. When I first started mining Rvn around 11 days ago it was worth around .002$. Now it's worth .1$. According to Crypto.com it went up 48.62% in the last 24 hours. It's growing.

Rvn coin official site: Home



He talks about it around 10 minute mark

 

[The Crypto Guy]

You guys and gals! I highly recommend checking out Rvn. I know I am new but I do see the high potential in the project. When I first started mining Rvn around 11 days ago it was worth around .002$. Now it's worth .1$. According to Crypto.com it went up 48.62% in the last 24 hours. It's growing.

Rvn coin official site: Home



He talks about it around 10 minute mark

That has the potential to come crashing down has fast as it went up, if you invested anything into it i would suggest pulling out whatever you put in and let the rest ride! If you are just mining it then enjoy and don't forget to take profits along the way