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re: Official CryptoTalk Thread

Posted on 8/8/21 at 6:08 pm to
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 8/8/21 at 6:08 pm to
copy.
Posted by JayDeerTay84
Texas
Member since May 2013
9956 posts
Posted on 8/8/21 at 6:11 pm to
I don’t even use DeFi on ETH because of the fees. But on the other chains DeFi is absolutely we’re it’s at right now.

Just my 2 cents.
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 8/8/21 at 6:16 pm to
same here. all my defi usage is through less expensive chains
Posted by TigeRoots
Member since Oct 2008
8556 posts
Posted on 8/8/21 at 6:25 pm to
Just curious what you guys are doing on DeFi exactly?
Posted by JayDeerTay84
Texas
Member since May 2013
9956 posts
Posted on 8/8/21 at 6:28 pm to
Providing liquidity and earning yield. Same thing a bank does except our yield is much higher.

You might ask, why provide liquidity? To provide swap options for tokens, new projects, loans, etc.
Posted by TheDuke5524
Baton Rouge
Member since Jun 2015
1413 posts
Posted on 8/8/21 at 6:33 pm to
I wish I understood how to do any of that. I just simply buy and sell and hold. That’s all I know how do to lol.
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 8/8/21 at 6:34 pm to
mostly high yield pools, earning over 90-120% apy has been very real opportunity these last couple years

for the future, the driver of mass real-world adoption is likely to be lending and borrowing = a link to the real economy

imagine being able to opt out of credit score or a background check and get approved for home and car loans.

I think this is also why defi scares politicians moreso than Bitcoin
Posted by TigeRoots
Member since Oct 2008
8556 posts
Posted on 8/8/21 at 6:45 pm to
Gotcha. I use Celsius to earn yield but not sure that’s called yield farming. Not when compared to the yields y’all are getting
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 8/8/21 at 7:04 pm to
yeah there's some great opportunities now that people should take advantage of while they're there imo.

yearn, curve, badger, harvest.finance, polyswap, quick swap, venus are some

autocompounding on pancake bunny gets you 300% apy right now

I use pancake swap and it's been amazing. they also have lotteries you can play

you can also buy defi insurance if you're trying to eliminate some risk

This post was edited on 8/8/21 at 7:04 pm
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82094 posts
Posted on 8/8/21 at 7:12 pm to
First time hearing that use case and I think it sounds very good. Maybe these jpeg and trading cards are just the first level of the NFTs for now
Posted by TheDuke5524
Baton Rouge
Member since Jun 2015
1413 posts
Posted on 8/8/21 at 7:12 pm to
I’m gonna have to research those and see
Posted by down time
space
Member since Oct 2013
1914 posts
Posted on 8/8/21 at 7:13 pm to
Are we confident cake will be around a while??? I love the auto syrup pool.

Why farm over pool?
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 8/8/21 at 7:20 pm to
I think binance is here to stay. not sure about its future in the US tho

farms give you more percentage of transaction fees so pools will have lower returns but you expose yourself to more impermanent loss with farming so it's considered riskier

I do both fwiw
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 8/8/21 at 7:24 pm to
yeah another use case when considering certificates of authenticity is intellectual property. You can stake a claim to the inception of an idea by placing the patent application or even just preliminary research on a blockchain. Would help with disputes at the patent office regarding inventorship.

This post was edited on 8/8/21 at 7:31 pm
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 8/8/21 at 7:25 pm to
quote:

I love the auto syrup pool.


95% APY auto cake
Posted by JayDeerTay84
Texas
Member since May 2013
9956 posts
Posted on 8/8/21 at 7:41 pm to
There is a stake cake earn TUSD right now as well.
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 8/8/21 at 7:45 pm to
the ETH buy pressure and everything else has softened up to close out the weekend
Posted by TheDuke5524
Baton Rouge
Member since Jun 2015
1413 posts
Posted on 8/8/21 at 7:49 pm to
Our usual red sell off sundays. Happens. ETH can only carry so much before pressure takes over.
This post was edited on 8/8/21 at 7:50 pm
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 8/8/21 at 8:01 pm to
gold had a big sell-off and futures are slightly red - tomorrow will be interesting?

1 year totals now:

Bitcoin +271%

Gold -16%

SP500 +32%
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 8/8/21 at 8:05 pm to
quote:

Gold -16%

OOF

how anyone can still invest in gold as an inflation hedge is beyond me. It has utterly failed at its stated purpose
This post was edited on 8/8/21 at 8:05 pm
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