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re: Official CryptoTalk Thread

Posted on 4/29/21 at 5:02 pm to
Posted by RonLaFlamme
Baton Rouge
Member since Nov 2016
1858 posts
Posted on 4/29/21 at 5:02 pm to
25 yr tech professional here. Ethereum has a significant head start but also has significant obstacles to overcome to get to a scalable, affordable, and governable blockchain. I don’t see it as a zero sum game and only one will survive - I think ETH will do fine but it’s position as the preeminent smart contract platform will be eroded by Cardano, PolkaDot, BSC, Algorand, and others.
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 4/29/21 at 5:11 pm to
quote:

I don’t see it as a zero sum game and only one will survive - I think ETH will do fine but it’s position as the preeminent smart contract platform will be eroded by Cardano, PolkaDot, BSC, Algorand, and others.


I agree, though I think you'll have a big 2-3.

However, the amount of "market share" ETH will give up depends on how quickly they roll out eth2 and eip1559.
Posted by 21JumpStreet
Member since Jul 2012
14873 posts
Posted on 4/29/21 at 5:33 pm to
I think they are set up to do different things. Bnb is the real ethereum killer
Posted by CE Tiger
Metairie
Member since Jan 2008
41893 posts
Posted on 4/29/21 at 6:12 pm to
And Chainlink will be feeding data to them all
Posted by James11111
Walnut Creek, Ca
Member since Jul 2020
5545 posts
Posted on 4/29/21 at 6:35 pm to
quote:

I don’t see any risk at this stage in the game. CeFi companies like Voyager, Celsius, Gemini, BlockFi aren’t going anywhere


Which ones are you guys using? Which stable coins are you staking? How much do you feel comfortable leaving in there?

How long are the terms?

ETA: I am currently staking my crypto on Gemini, and was hoping they would stake stable coins, but I dont see that optioin.
This post was edited on 4/29/21 at 6:46 pm
Posted by mtcheral
BR
Member since Oct 2008
2088 posts
Posted on 4/29/21 at 6:47 pm to
What are you using as collateral for a loan? If stablecoins, what benefit is there to keep them and borrow against them if they won’t go up in value as you hold. Might as well just cash out, right? I can see using another coin that may appreciate but then you may have to have more collateral if the price drops a lot
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 4/29/21 at 6:52 pm to
i used bitcoin for collateral and then bought more bitcoin with the USD loan. the LTV was 60% at the time, this was back in november so not sure what it is now

they give you text and email warnings when youre close to liquidation so you can add more funds if there is a significant price decrease
Posted by bluebarracuda
Member since Oct 2011
19223 posts
Posted on 4/29/21 at 7:03 pm to
I'm trying to convince my wife to take half of our amex savings to put into celsius stablecoin. Give me that 10% over .4% or whatever amex high yield is

Give us a little more wiggle room on our house down payment in 2 years
This post was edited on 4/29/21 at 7:05 pm
Posted by mtcheral
BR
Member since Oct 2008
2088 posts
Posted on 4/29/21 at 7:05 pm to
Nexo wants 1.5btc to get 50k
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 4/29/21 at 7:08 pm to
yea seems like a no brainer. blockfi is backed by fidelity if that makes her feel more secure
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 4/29/21 at 9:07 pm to
Does celsius let you buy stablecoin with usd, or would you need to buy it via CB pro or similar and transfer?
Posted by RonLaFlamme
Baton Rouge
Member since Nov 2016
1858 posts
Posted on 4/29/21 at 9:21 pm to
No trading/swapping on Celsius - buy elsewhere and transfer in
Posted by down time
space
Member since Oct 2013
1914 posts
Posted on 4/29/21 at 9:28 pm to
How does blockfi vary interest rates?

I need a place to park some tether in a month or two.
Posted by lighter345
Member since Jan 2009
11893 posts
Posted on 4/29/21 at 9:45 pm to
You can buy it but ACH is only cheap way and can take 3-5 days.
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 4/29/21 at 10:01 pm to
blockfi has been changing rates often think they have a stable coin promo rate right now but not sure how long it lasts
Posted by 21JumpStreet
Member since Jul 2012
14873 posts
Posted on 4/30/21 at 6:47 am to
Dang, voyager was easy to deposit and withdraw. Only downside is they don't provide loans as collateral i don't think. They are also a public company
Posted by lsu777
Lake Charles
Member since Jan 2004
37042 posts
Posted on 4/30/21 at 7:07 am to
Kubyam posted this around midnight so be mindful of any plays you have.

quote:

Just want to throw out a quick update on my thoughts on BTC. If this weekly candle closes below 52.6k in just under 3 days, we will likely see 42-43k levels the first part of May. Some altcoins have had a nice bounce this week so if you have open trades are in profit, I'd look to secure them, set some stop losses in profit, or have some funds on hand to buy any possible dips that could come in the next week or two
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 4/30/21 at 7:36 am to
Trias at $8 tho

Feels goodman
Posted by lsu777
Lake Charles
Member since Jan 2004
37042 posts
Posted on 4/30/21 at 8:18 am to
Yea trias was a killer play. I'm out now but killed it on that. Last night when it dipped it tripped my trailing stop loss and closed. Overall killed it.

BTW I never did get that invite to that group.


Also did see a graph yesterday that showed grt is prolly not going to recover back to all time high area until late may/early June and if btc does go to 42-44, will be more like 80-90 days from now.
Posted by CE Tiger
Metairie
Member since Jan 2008
41893 posts
Posted on 4/30/21 at 8:29 am to
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