Bitcoin/cryptocurrency thread

[iron mike python]

34 minutes ago, Aufc said:

Just found this topic.

I have chucked some cash into crypto.

So far i have

Xrp
Cardano
Etherium (just bought a whole coin in the hope this will go up)
Polkadot
Swissborg

I use the swissborg app for the swissborg then crypto.com for the rest. Is that suitable?

The volatility is wild sometimes. Makes you question whether people are just using it as a get rich quick scheme. Cardano was up 28% about 4 hours ago and is now only up 2%. Wondering whether people are just taking their profit as it goes up which forces the price back down

Hello, as I have tried to make clear earlier, this is definitely a bull market you are entering into which is very volatile and prices could well end up lower than we are now in the bear market. I do think that the top will be a month/ few months away. Signs of the market top include your favourite celebrities talking on Social media about the coin you hold/ news coverage comparing the market to the Tulip bubble of Holland centuries ago/ your P and B sell signal will be when the "Investing" thread starts being positive towards Bitcoin 

More personally to you, the top will be a major feeling that you haven't bought enough because you will see the price sky rocketing. You will need to identify this feeling and the press the "SELL" button even though you really want to buy more.

I know nothing of Swissborg even though I have been in this space for a few years. Crypto.com have a huge presence and even a card which lets you spend your crypto (for a fee). It can start to replace your bank in that way. These are centralised services though and the history of crypto is littered with centralised services being closed by Governments and Hackers/Inside jobs without any warning.  Bitcoin has never been hacked, Exchanges have been hacked constantly.

Cardano seems to be very popular lately but I am not attracted to it. It aims to be an "Ethereum Killer" it is yet to be tested in the wild though. Cardano has been around for years and has made very little progress (I think it is just getting round to launching just now). I use this website to analyse Blockchain fees:  Crypto Fees (and therefore actual useage of Blockchains and Dapps). 

Lots of people do come into crypto to pump and dump. I'm going to take some profit from the next few months but blockchain is far more than about just the money.

If you can identify some of the ways which this technology will change our world then the profits will come easily. 

Feel free to ask me any questions.

 

 

 

 

Edited February 7, 2021 by iron mike python

[SANTAN]

Just as a wee tangent anectodal birthday card pish post...

Some of my mates ask me about crypto but only seem interested when the price is high, I find this so bizarre but I kinda understand it, I'll literally mention a decent low priced coin, they'll see it and say "nah that's far too low" then as soon as that or similar coins go into price discovery and all time highs they say "this looks good I should get in"... it's interesting because I get that feeling myself a lot of the time, it's like to be successful you really need to cut out all emotions and urges which considering we are humans that let our brain decide everything it can be kinda hard to do! Just stick to your plans and don't let your heart rule your head and as alluded to before by @iron mike python when you notice a new crypto because it's trending you've almost already definitely missed the bus. 

Edited February 7, 2021 by Stormzy

[Aufc]

Hello, as I have tried to make clear earlier, this is definitely a bull market you are entering into which is very volatile and prices could well end up lower than we are now in the bear market. I do think that the top will be a month/ few months away. Signs of the market top include your favourite celebrities talking on Social media about the coin you hold/ news coverage comparing the market to the Tulip bubble of Holland centuries ago/ your P and B sell signal will be when the "Investing" thread starts being positive towards Bitcoin [emoji16]
More personally to you, the top will be a major feeling that you haven't bought enough because you will see the price sky rocketing. You will need to identify this feeling and the press the "SELL" button even though you really want to buy more.
I know nothing of Swissborg even though I have been in this space for a few years. Crypto.com have a huge presence and even a card which lets you spend your crypto (for a fee). It can start to replace your bank in that way. These are centralised services though and the history of crypto is littered with centralised services being closed by Governments and Hackers/Inside jobs without any warning.  Bitcoin has never been hacked, Exchanges have been hacked constantly.
Cardano seems to be very popular lately but I am not attracted to it. It aims to be an "Ethereum Killer" it is yet to be tested in the wild though. Cardano has been around for years and has made very little progress (I think it is just getting round to launching just now). I use this website to analyse Blockchain fees:  Crypto Fees (and therefore actual useage of Blockchains and Dapps). 
Lots of people do come into crypto to pump and dump. I'm going to take some profit from the next few months but blockchain is far more than about just the money.
If you can identify some of the ways which this technology will change our world then the profits will come easily. 
Feel free to ask me any questions.
 
 
 
 

Thanks for that. To be honest, I am not really that technology minded that i will ever identify ways it can be used or foresee any trends. I am just doing it to make a bit of coin and for some interest. Its not a huge sum (think my total amount is about £5k max). Obviously i dont want to lose it but, equally, i am not going to be bankrupt.

My friend js fairly into swissborg for a large sum hence why i put some cash in. I actually took out some profit from it which came to about 30% of my investment. If i was seriously rich then id do premium as they pay out a 26% yield or something silly.

Xrp may depend on the sec court case. I am thinking that maybe the best strategy for some of the coins is to just take profit out as and when. I think ill just leave my ethereum.

Whats the best to safeguard against hacking?

[Zetterlund]

35 minutes ago, Aufc said:

Whats the best to safeguard against hacking?

 

The biggest thing would be to not leave your coins on exchanges. As the saying goes, "not your keys, not your coins". Although the likes of Binance should be safe enough, there have been plenty of exchange hacks over the years and I've been burned myself.

After this, just general safe keeping of your private keys etc, with multiple backups including on paper.

I think most lost coins are as a result of people losing passwords and keys rather than from hacking.

[iron mike python]

14 hours ago, Aufc said:

Whats the best to safeguard against hacking?

 

Zetterlund gives good advice above.

For anyone with a Binance account, I found the following thread on Reddit which gives you the answer to Coinmarketcap Earn questions. You should receive coins in a month to your Binance account. Coinbase's Version gives you around $10 so I think it could be similar here but they don't disclose it.

I am thinking about doing a post in here about potential airdrops in Ethereum over the next year. Would enough people with Metamask be interested?  People (included myself) have made a lot of money from airdrops over the past year. I got UNI and 1inch (but sold them for much less profit than if I held on to them now)

[Fraser Fyvie]

19 minutes ago, iron mike python said:

Zetterlund gives good advice above.

For anyone with a Binance account, I found the following thread on Reddit which gives you the answer to Coinmarketcap Earn questions. You should receive coins in a month to your Binance account. Coinbase's Version gives you around $10 so I think it could be similar here but they don't disclose it.

I am thinking about doing a post in here about potential airdrops in Ethereum over the next year. Would enough people with Metamask be interested?  People (included myself) have made a lot of money from airdrops over the past year. I got UNI and 1inch (but sold them for much less profit than if I held on to them now)

I would probably be interested mate. How would it work? I've only been holding for a few months so not really looked into airdropping/staking etc but have been looking at wallets so could get a metamask.

[Aufc]

I took out £400 profit on my cardano coins. Currently sitting with it on my crypto account. Think i might just leave it sitting and see whether if any coins drop. Probably missed the bitcoin rush

[Aufc]

Anyone bought some vetchain?

[SANTAN]

19 minutes ago, Aufc said:

Anyone bought some vetchain?

I used to have some as a large part of my portfolio before I sold everything prematurely.

I've got about 1k involved now (not on vet) and looked at my block folio app and it would've been 8k if I hadn't have sold. I need to delete the app but my curiosity gets the best of me.

[Aufc]

I used to have some as a large part of my portfolio before I sold everything prematurely.
I've got about 1k involved now (not on vet) and looked at my block folio app and it would've been 8k if I hadn't have sold. I need to delete the app but my curiosity gets the best of me. [emoji23]

Ouch. Might chuck that £400 at some vetchain

[iron mike python]

Upcoming Airdrops

Warning : The following actions require "speculating to accumulate" . The Gas prices for transactions on Ethereum are gigantic especially during the week. The best time to do these transactions are Saturday and Sunday around 10 pm and 10 am GMT (not an exact science).  You can check the gas prices here https://ethgasstation.info/  Only do transactions when these numbers hit around 100 or lower.

Warning 2: These predictions of Airdrops are just from the crypto community and they may not happen if regulators step in or the products decide against it.

Background

Airdrops have been around for a while but they have seen great success in boosting fair governance participation in projects and providing "free marketing" for projects in the Ethereum Defi (Decentralised Finance) ecosystem over the past year. Projects have learned that they can support funding and get great grass roots marketing by rewarding users of their project. They do this by analysing the Ethereum addresses which have completed transactions involving their product and distributing new coins to those addresses.  Uniswap and 1inch have been the biggest success stories of this method. I received 7000 Uniswap airdropped tokens for being a liquidity provider but also anyone that had even done 1 transaction on Uniswap received 400 UNI (would currently be worth $800 at today's prices). Unfortunately I swapped my UNI tokens way too early. If you are good at mathematics you would have calculated that I could have had $140000 from interacting with an app a few times .

What Are The Products which are yet to Launch a Token?

METAMASK - Metamask is a wallet User interface for Ethereum, Binance Smart Chain and Avalanche (along with plenty others) They have recently allowed token transactions to take place via the app itself, taking a small percentage in fees. There is a strong rumour that Metamask will support further developments of the wallet/app by creating their own token. I have also seen lead developer Dan Finlay on Twitter . I would guess that people will see worth in the token if it allows them access to some percentage of the fees. I predict this Token will be a gigantic event in the community if the Tokenomics are fair.

DY/DX - DY/DX is an exchange which has seen an upsurge in activity recently (maybe because insiders know there will be an airdrop?). I have personally never used it but I plan to when gas fees are lower. There are lots of strong rumours that they are being pressured by their Virgin Capital investors to release a token and give the early investors a good distribution. Maybe you could use their lending tool to get a good rate whilst waiting for the token to be issued in the future.

Zapper.fi - Zapper.fi is an interface that you can connect your Ethereum wallet to and you can clearly see where all your coins are allocated on the blockchain. It also lets you analyse any address on the Blockchain (as you can see in the link, it isn't my wallet! it belongs to one of the biggest whales in the ecosystem). They have recently allowed you to do token exchanges through their product much like I described earlier in the Metamask section.  Another route to getting a token would be by providing liquidity through their "pool" section.

Zerion - Zerion is Zapper.fi's competitor. It works in almost the same way with a different interface. Having listened to their CEO on a podcast recently he talked about releasing a coin later this year (without definitely confirming it.) This is the one I am most certain of having an airdrop. Do a few token swaps and you should have a good chance of getting an airdrop.

TLDR: Wait for low gas fees, do transactions on above apps, wait for the airdrops, don't sell at the market bottom.

 

[gaz5]

Zetterlund gives good advice above.
For anyone with a Binance account, I found the following thread on Reddit which gives you the answer to Coinmarketcap Earn questions. You should receive coins in a month to your Binance account. Coinbase's Version gives you around $10 so I think it could be similar here but they don't disclose it.
I am thinking about doing a post in here about potential airdrops in Ethereum over the next year. Would enough people with Metamask be interested?  People (included myself) have made a lot of money from airdrops over the past year. I got UNI and 1inch (but sold them for much less profit than if I held on to them now)

I'd be interested too, part of the learning.

Random question, on Binance I can't buy SNX or DOT for example in GBP. Assume I need to buy binance tokens (BNB) and use them for any non fiat GBP pairs?

ETA: I couldn't get into my account earlier as they were having problems. I was trying to buy BTC, saw the price rise afterwards. [emoji1751]

[iron mike python]

15 minutes ago, gaz5 said:

ETA: I couldn't get into my account earlier as they were having problems. I was trying to buy BTC, saw the price rise afterwards.

Yeah its a disgrace and has always been like this. Coinbase is the same. It should push people to Ethereum and decentralised finance but the fees are gigantic there currently.

To answer your first question you need to look and see what has pairs with the coin you want. This means doing 2 transactions unfortunately.  Have a look through the Tabs in the below picture and you see if your coin matches in the BTC tab section.

Edited February 8, 2021 by iron mike python

[Aufc]

Upcoming Airdrops
Warning : The following actions require "speculating to accumulate" . The Gas prices for transactions on Ethereum are gigantic especially during the week. The best time to do these transactions are Saturday and Sunday around 10 pm and 10 am GMT (not an exact science).  You can check the gas prices here https://ethgasstation.info/  Only do transactions when these numbers hit around 100 or lower.
Warning 2: These predictions of Airdrops are just from the crypto community and they may not happen if regulators step in or the products decide against it.
Background
Airdrops have been around for a while but they have seen great success in boosting fair governance participation in projects and providing "free marketing" for projects in the Ethereum Defi (Decentralised Finance) ecosystem over the past year. Projects have learned that they can support funding and get great grass roots marketing by rewarding users of their project. They do this by analysing the Ethereum addresses which have completed transactions involving their product and distributing new coins to those addresses.  Uniswap and 1inch have been the biggest success stories of this method. I received 7000 Uniswap airdropped tokens for being a liquidity provider but also anyone that had even done 1 transaction on Uniswap received 400 UNI (would currently be worth $800 at today's prices). Unfortunately I swapped my UNI tokens way too early. If you are good at mathematics you would have calculated that I could have had $140000 from interacting with an app a few times [emoji17].
What Are The Products which are yet to Launch a Token?
METAMASK - Metamask is a wallet User interface for Ethereum, Binance Smart Chain and Avalanche (along with plenty others) They have recently allowed token transactions to take place via the app itself, taking a small percentage in fees. There is a strong rumour that Metamask will support further developments of the wallet/app by creating their own token. I have also seen lead developer Dan Finlay on Twitter . I would guess that people will see worth in the token if it allows them access to some percentage of the fees. I predict this Token will be a gigantic event in the community if the Tokenomics are fair.
DY/DX - DY/DX is an exchange which has seen an upsurge in activity recently (maybe because insiders know there will be an airdrop?). I have personally never used it but I plan to when gas fees are lower. There are lots of strong rumours that they are being pressured by their Virgin Capital investors to release a token and give the early investors a good distribution. Maybe you could use their lending tool to get a good rate whilst waiting for the token to be issued in the future.
Zapper.fi - Zapper.fi is an interface that you can connect your Ethereum wallet to and you can clearly see where all your coins are allocated on the blockchain. It also lets you analyse any address on the Blockchain (as you can see in the link, it isn't my wallet! it belongs to one of the biggest whales in the ecosystem). They have recently allowed you to do token exchanges through their product much like I described earlier in the Metamask section.  Another route to getting a token would be by providing liquidity through their "pool" section.
Zerion - Zerion is Zapper.fi's competitor. It works in almost the same way with a different interface. Having listened to their CEO on a podcast recently he talked about releasing a coin later this year (without definitely confirming it.) This is the one I am most certain of having an airdrop. Do a few token swaps and you should have a good chance of getting an airdrop.
TLDR: Wait for low gas fees, do transactions on above apps, wait for the airdrops, don't sell at the market bottom.
 

So basically you need a binance wallet and need to hold ethereum in it to have a chance of getting an airdrop? Am i understanding that correctly?

[KD1711]

Just came across this thread. Got into crypto in about 2017 with XRP being my main bag unfortunately.

Coins I am in on just now are Swissborg (quite a heavy bag on that), ADA, Vetchain, Benchmark Protocol and XRP. 

Swissborg is one that I am most excited about and has the most potential. The aims of it are to be the number 1 crypto wealth app, due to me being in early I managed to get a premium account with them. This enables me to get a better % yield. On USD coin this is between 24-26% interest and on CHSB (Swissborg) I earn almost 7% yield a day.

I have 20k coins locked in the SwissBorg Smart Yield which means in a year I will accumulate over 1,000 coins from staking them. Bitcoin and Ethereum smart yield are due to be launched in the app for the end of Q1, so I think the price could sky rocket as the last 2 times it has went parabolic was the launch of USDC and CHSB smart yield. almost 50% of the circulating supply is staked in premium or smart yield which of course creates less selling pressure. The token has solid fundamentals and they also do a thing called protect and burn, at the moment 600k USD is in the pot. Swissborg save 20% of their fees from the app each month and place it into the protect and burn, when Swissborg token reaches a 20 day bearish moving average they then put this money into buying coins and burning them, protecting the price. Definitely worth a look at as I can see this coin hitting $5-$7 this year. 

With Tesla announcing today that they have put so much into BTC and the BTC and ETH yield coming, all it takes is a few whales to send their coins onto Swissborg for the yield and go premium for the better % to send the price to the moon.

[iron mike python]

22 minutes ago, Aufc said:

 

So basically you need a binance wallet and need to hold ethereum in it to have a chance of getting an airdrop? Am i understanding that correctly?

 

No it is nothing to do with Binance (Centralised Exchange which has its own semi decentralised Blockchain called Binance Smart Chain)) I only mentioned it because you COULD configure metamask to work with Binance Smart chain and other blockchains.

To Do what I am suggesting above, you would have to get an Ethereum wallet. Metamask is the most popular. I need to emphasize to you how expensive it would be to do the transactions today and during this bull run. It will cost a lot of money to even do these transactions because the transaction fees on Ethereum are very high. 

I'll give you an example: if you tried to do a zerion token swap today at this busy time  it would cost $82 for the transaction.

 

Wait a few months for the hype to go away and then follow my examples

 

 

 

 

Edited February 8, 2021 by iron mike python

[KD1711]

VET is a really interesting project and I will probably start accumulating a heavy bag on that over the next year.

There is no crypto project that has secured as many partnerships. They have a working product that is actually being used right now.

There is 101 Authoroty Nodes (AN) that lock up and maintain the network who get 30% of the burned Vtho. They are like owners I think or strategic partners. Like DNV-GL, PWC, Walmart. Then there is the partners who are locked up but not as an AN: , BMW, BYD, Louis Vuitton, Givenchy, Bright foods, etc. I’m 

There is another two AN’s just went live today and a lot of VET got bought. Hopfully another AN is announced. Amazon have been linked. I know DHL are already.

There is a disclosure agreement with the companies. Vet can’t announce who’s in, they all need announce when they are ready.

It’s the only blockchain to have a 5 start rating on some German thing. Italian government want to track it for its wine. Cyprus gov used it to track COVID vaccine. Chinese gov said it and another blockchain is there partner.

It just sucks on marketing and causing a hype but it’s a serious contender to be a top 10 in the next 4 years

[gaz5]

So, is it the time to be piling into bitcoin, or has the top been blown off it today? [emoji1787]

[Aufc]

No it is nothing to do with Binance (Centralised Exchange which has its own semi decentralised Blockchain called Binance Smart Chain)) I only mentioned it because you COULD configure metamask to work with Binance Smart chain and other blockchains.
To Do what I am suggesting above, you would have to get an Ethereum wallet. Metamask is the most popular. I need to emphasize to you how expensive it would be to do the transactions today and during this bull run. It will cost a lot of money to even do these transactions because the transaction fees on Ethereum are very high. 
I'll give you an example: if you tried to do a zerion token swap today at this busy time  it would cost $82 for the transaction.
 
Wait a few months for the hype to go away and then follow my examples
 
 
 
 

To be honest, it sounds well above my technical knowledge. Quite happy with my spread and hopefully vetchain grows as it was cheap as f**k to buy.

[iron mike python]

Just now, gaz5 said:

So, is it the time to be piling into bitcoin, or has the top been blown off it today?

I think we are now in uncharted waters. Today changes a lot. 

You need to understand that before Microstrategy and now Tesla got involved, boardrooms all over the world thought the same as we all did before we got into the space (it's a scam! Criminal Activity! Tulips!)

Some boardrooms will maybe buy BTC over the next few weeks copying Tesla but most legacy boardrooms can't allocate resources to Bitcoin that quickly even if they want to. This means that today's news keeps the bull market going for a couple more months. Okay.... no big deal.. price will go up a little and maybe double.

But here is the interesting part........ When competitors to Tesla (Ford and General Motors) have all their money in USD and the US government keeps on printing more and more dollars to stimulate the Covid economy probably leading to weaker buying power what do they do? They look across the table and Teslas balance sheet is much more healthy than theirs due to this purchase of Bitcoin. Do they FOMO in? Buy at a much higher price? Alternatively they could push government for tougher regulations on crypto.

It also transforms the TSLA stock itself. Not only does owning Teslas Stock give you a slice of the Tesla car pie, a Tesla stock gives you exposure to Bitcoin, so if investors start to make this connection and the Bitcoin price does continue to rise, you will see the price of TSLA go higher than a Space X rocket. Obviously this can be negative if the Bitcoin price plummeted.