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

[sigma six]

Hell yea. Staking ETH, ALGO and ADA. You don't get rich unless you're making money while you sleep..

I would like to start doing this, same three projects...how would you suggest getting started with staking?

 

[SuperScript29]

I would like to start doing this, same three projects...how would you suggest getting started with staking?

Can't speak for ETH and ADA, but for ALGO all you have to do is move it to the official Algorand wallet and it stakes just by having it there. Also consider getting into CRO as well, I'm getting almost 14% p.a. on the Crypto.com DeFi wallet for that.

 

[SuperScript29]

Kind of crazy seeing a coin moon in front of our eyes and not do anything about it lol, go check out Axie, it's pretty much being pumped by the country of Philippines. Looks like crypto gaming is something to consider going forward.

 

[Wafflewhipper]

My SO invested a sizable chunk into Ethereum. She woke up pretty furious this morning. And I'm sitting here thinking this is why I never dipped my toes into crypto in the first place.

This aged well

 

[HanSolo]

This aged well

Yeah I saw.

I think she accidentally rebought into Ethereum 2 and can't sell it yet. Right now she'd be 100 dollars over her original investment. I think she's holding onto it for a while.

 

[SuperScript29]

Lately I've been profiting pretty good out of Coinbase, I noticed when they list new coins on their platform they tend to pump, granted those who bought before the coins got there made a killing, but if you buy as soon as they're listed and not get too greedy, you'll make some decent money.

 

[The Crypto Guy]

Yeah I saw.

I think she accidentally rebought into Ethereum 2 and can't sell it yet. Right now she'd be 100 dollars over her original investment. I think she's holding onto it for a while.

I think you mean she is staking her Ethereum.

 

[HanSolo]

I think you mean she is staking her Ethereum.

I guess.

 

[Club]

proof of work vs proof of stake is something someone should know when physically buying. imho its fun to learn about crypto but dont go in blind.

edit: just glad theres a lot of High greed on the outlook index right now.

 

[The Crypto Guy]

proof of work vs proof of stake is something someone should know when physically buying. imho its fun to learn about crypto but dont go in blind.

edit: just glad theres a lot of High greed on the outlook index right now.

Love when the index are reading greed...that's when the bulls are in town and the price gets driven up.

 

[John Price]

 

[The Crypto Guy]

My SO invested a sizable chunk into Ethereum. She woke up pretty furious this morning. And I'm sitting here thinking this is why I never dipped my toes into crypto in the first place.

She’s really sitting pretty now. Eth taking off

 

[SuperScript29]

I don't buy most of this NFT crap, it sounds more like money laundering to me.

 

[Gardner McKay]

I don't buy most of this NFT crap, it sounds more like money laundering to me.

For the most part.

I think the end of this year will be hype around Metaverse coins like Starl, UFO and more recently, DXO.

 

[SuperScript29]

For the most part.

I think the end of this year will be hype around Metaverse coins like Starl, UFO and more recently, DXO.

Just to clarify, I don't think every single NFT out there is money laundering, but when I see someone pay a ridiculous amount for a friggin basic pixel image, seems rather obvious to me.

 

[Gardner McKay]

Just to clarify, I don't think every single NFT out there is money laundering, but when I see someone pay a ridiculous amount for a friggin basic pixel image, seems rather obvious to me.

No for sure. I agree. Some of those purchases are money laundering. Others are just genesis eth whales who have more money than god and can do what they want.

 

[The Crypto Guy]

For the most part.

I think the end of this year will be hype around Metaverse coins like Starl, UFO and more recently, DXO.

I wouldn't say “for the most part” but yea, like every shady transaction there is a percentage. Some people are really into that stuff hoping to make a real profit one day (or like you said have more money than to know what to do with).

 

[Club]

the market is driven by; Narratives & Emotions in the short run, Fundamentals & truth in the long run. Use this to your advantage.

 

[SuperScript29]

Little smack on the head here, had a bag of 2000 Algorand that I bought at like $0.72, I decided to change it to Yieldly not long ago and here we are today, the price surpassing $2.25

 

[The Crypto Guy]

Little smack on the head here, had a bag of 2000 Algorand that I bought at like $0.72, I decided to change it to Yieldly not long ago and here we are today, the price surpassing $2.25

Yikes, that wasn't a good move. Never even heard of Yiedly. ALGO has a ton of potential, shouldn't have sold it.

 

[SuperScript29]

Yikes, that wasn't a good move. Never even heard of Yiedly. ALGO has a ton of potential, shouldn't have sold it.

Yieldly is the first DeFi on the Algorand blockchain. It's one of those projects in early stage and I'm hoping I can look back and be happy that I got in this early lol.

 

[JohnC]

Anybody have any moonshots they’re playing around with right now? I’ve got about $175 worth of SHIB that I don’t see having much upside that I’m considering turning into something different.

 

[SuperScript29]

Anybody have any moonshots they’re playing around with right now? I’ve got about $175 worth of SHIB that I don’t see having much upside that I’m considering turning into something different.

At the end of the day it's all gambling, but if you want coins that could be moonshots look at something that has a low market cap and not listed on major exchanges yet. You already missed the SHIB moonshot, odds of that $175 turning into something significant is not gonna happen with it.

The moonshot I'm invested in the most these days is called Yieldly (I have about 1k worth in it), it's the first DeFi project on the Algorand blockchain and gaining momentum now that ALGO is moving up. There's about 2.5 billion YLDY in circulation with a very low market cap of 50 million. But the best part about it is the APY return when you stake it at the moment is at like 28%. Two weeks ago it was 40% and not long it was crazy high, so a lot of people are joining in. This project started in July so it's still very early and there's definitely potential growth if ALGO continues to move up. The only issue I see with YLDY at the moment is it's a bit of a pain to get it since it's not available on major exchanges.

 

[beowulf]

Well things just got interesting, China has banned all crypto transactions and mining or more specifically made them outright illegal. Bitcoin and others have started to drop on the new.

China's top regulators ban crypto trading and mining, sending bitcoin tumbling

 

[The Crypto Guy]

Well things just got interesting, China has banned all crypto transactions and mining or more specifically made them outright illegal. Bitcoin and others have started to drop on the new.

China's top regulators ban crypto trading and mining, sending bitcoin tumbling

Lmao. China banned Cypto years ago. And they "re-ban" it every few months. It's comical at this point.