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re: Official CryptoTalk Thread

Posted on 7/8/21 at 9:26 am to
Posted by JayDeerTay84
Texas
Member since May 2013
9956 posts
Posted on 7/8/21 at 9:26 am to
quote:

Great one on Polygon right now is Augury.finance. You can stake their native OMEN/USDC Quickswap LP for ~650-700% APR right now, and the token has stabilized and is slowly increasing in value, even through this dip today. Their LP program on OMEN will end at the end of August.

They have the typical "use case" as any other typical farm that is trying to give their coin a use, but I'm just taking my rewards and converting them to USDC every day, about 2% of my staked amount. It's pretty incredible.



There are so many of these platforms I have trouble keeping up.

I just looked at them. Over 75% on staking stable coins is nuts but they pay you in OMEN.
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 7/8/21 at 9:45 am to
My Ledger Nano S has a dead pixel that made a B look like an R and made me extremely paranoid I had the wrong receive address.

Guess I'm going to see if I can't get a replacement because now I'm paranoid the screen is going to go out and I'll be forced to use my recovery phrase on a software wallet if I need instant access, and tbh I am 100% sketched out by that idea.

Frustrating. Hasn't even been a year since I've had the Ledger for the screen to show a fault.
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 7/8/21 at 10:04 am to
quote:

I just looked at them. Over 75% on staking stable coins is nuts but they pay you in OMEN.



Yep. A lot of the community is keeping their earned OMEN because they also give a weekly dividend in USDC for staked OMEN pool + any portal(farm) and they think the token will go to $1+ once the farming is ended and the OMEN token will be used for IFOs. I, however, am just selling off the omen I'm earning. It's just a farm to me, I don't think it's going to be some groundbreaking platform. I'm making ~$10/day on what I have staked.

It's not as insane as Iron Finance was with a stablecoin LP producing 500+%, but OMEN's performing pretty well now after some initial issues. They partnered up with PolyCat Finance, and somehow Polycat made a mistake that resulted in millions more OMEN being minted than ever planned; tanked the price of OMEN for a while. Devs burned off some of their own OMEN and also gave a hard end date to the OMEN farming, that get things rolling again.
This post was edited on 7/8/21 at 10:08 am
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82096 posts
Posted on 7/8/21 at 3:06 pm to
quote:

My Ledger Nano S has a dead pixel that made a B look like an R and made me extremely paranoid I had the wrong receive address.

Guess I'm going to see if I can't get a replacement because now I'm paranoid the screen is going to go out and I'll be forced to use my recovery phrase on a software wallet if I need instant access, and tbh I am 100% sketched out by that idea.
Worst case, just buy another Nano and restore your wallet using the 24 words onto the new Nano. TBH, this should be standard practice with anyone that stores a large amount in cold storage. You should buy a second wallet, restore with your passphrase to make sure it works, and have that device be a backup to the one you use (preferably stored in a different location). It is nice peace of mind knowing that you have checked your passphrase and it indeed works rather than just hoping it does.
Posted by Tiguar
Montana
Member since Mar 2012
33131 posts
Posted on 7/8/21 at 7:37 pm to
The 6 and 8 hour eth candles look like a mini wyckoff formation of their own.

Either way, pretty ugly.
Posted by TheDuke5524
Baton Rouge
Member since Jun 2015
1414 posts
Posted on 7/8/21 at 8:11 pm to
Got abused by ETH today. Guess I gotta look at it as more dips to buy on I suppose
Posted by Marciano1
Marksville, LA
Member since Jun 2009
19860 posts
Posted on 7/8/21 at 8:14 pm to
quote:

Got abused by ETH today. Guess I gotta look at it as more dips to buy on I suppose

Everyone got abused today lol.
Posted by Tiguar
Montana
Member since Mar 2012
33131 posts
Posted on 7/8/21 at 8:14 pm to
Pretty good chance we see retests of lows if this doesn’t turn around soon. Eth negative pressure is insanely high right now.
Posted by TheDuke5524
Baton Rouge
Member since Jun 2015
1414 posts
Posted on 7/8/21 at 8:19 pm to
I think tomorrow leading into the weekend will be very telling. Especially with GBTC. I do wish DOGE would just go away quietly.
This post was edited on 7/8/21 at 8:22 pm
Posted by Tiguar
Montana
Member since Mar 2012
33131 posts
Posted on 7/8/21 at 8:28 pm to
It feels like people have started to predict Friday/Saturday dumps and are dumping early now.

I agree though about the gbtc stuff. It’s definitely “priced in” because btc did frick all while eth ran a bit, but what’s not “priced in” is the actual potential return of that btc back to market increasing availability.

Posted by Ross
Member since Oct 2007
47827 posts
Posted on 7/8/21 at 8:53 pm to
quote:

Everyone got abused today lol.



My relationship with crypto is abusive by its very nature
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 7/8/21 at 8:53 pm to
quote:

Worst case, just buy another Nano and restore your wallet using the 24 words onto the new Nano. TBH, this should be standard practice with anyone that stores a large amount in cold storage. You should buy a second wallet, restore with your passphrase to make sure it works, and have that device be a backup to the one you use (preferably stored in a different location). It is nice peace of mind knowing that you have checked your passphrase and it indeed works rather than just hoping it does.


I'm pulling the trigger for the reasons you just outlined. I've verified the words exist on the BIP39 word list but you are correct - I've always been a bit paranoid about "do these words actually work" and with the hardware showing faults its now more relevant.
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 7/9/21 at 7:08 am to
quote:

Everyone got abused today lol.

Yeah...


I'm just not looking at the value of my holdings and just focus on the yield farm. Using that income to add to my ETH stack. Free money
This post was edited on 7/9/21 at 7:28 am
Posted by BottomlandBrew
Member since Aug 2010
29402 posts
Posted on 7/9/21 at 7:34 am to
I kind of like it dumping right before payday. Payday is my DCA day.
Posted by TigerDeBaiter
Member since Dec 2010
10681 posts
Posted on 7/9/21 at 8:44 am to
quote:

It feels like people have started to predict Friday/Saturday dumps and are dumping early now.


Usually when a pattern becomes predictable it changes. Hopefully we get a nice green weekend.
Posted by Marciano1
Marksville, LA
Member since Jun 2009
19860 posts
Posted on 7/9/21 at 10:11 am to
Just bought some SHIB for the first time.
This post was edited on 7/9/21 at 10:12 am
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 7/9/21 at 12:10 pm to
how can you possibly be bullish on eth now when proof of stake miners are incentivized to capture MEV

what am I missing with this
Posted by Tiguar
Montana
Member since Mar 2012
33131 posts
Posted on 7/9/21 at 12:34 pm to
Are you asking for logic in a space where doge was a top 5 token?
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 7/9/21 at 2:02 pm to
I'm not quite sure what you mean. Nothing's changing in the MEV right now, or even proposed to change. That whole Twitter thread is the ranting of some FUD monster. That first post where he diplays MEV auctions is just a piece of an article that Vitalik shared. MEV auctions are just an idea of how to capture some of the MEV from miners/validators and redirect it, but it's not been implemented and it's not in any proposal that I can find. I can find articles that agree that MEV auctions are a bad idea; but as far as I can tell it's just that right now, an idea. There are probably other ideas out there for recapturing that MEV.
This post was edited on 7/9/21 at 2:03 pm
Posted by tagatose
South Carolina
Member since Oct 2005
2029 posts
Posted on 7/9/21 at 3:11 pm to
IMO MEV extracted by miners having god-mode to arrange transactions is bad. Not sure of other types of MEV.
Unfortunately we've had to live with this like we've had to live with PoW miners constantly dumping eth on the market. This is just the current state in general. (btc has the same issues btw)

However, I'm confident we'll see these issues resolved in the future. There has been a lot of eth dev activity in this area. Slower than I would prefer though.

For me as long as yields remain high it outweighs any concern of MEV and PoW dumping in the short term. If yields drop then that could change my position.
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