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re: Official CryptoTalk Thread
Posted on 11/17/21 at 10:13 pm to GumboPot
Posted on 11/17/21 at 10:13 pm to GumboPot
Yea I only found out about it because I saw Snow bank had a big dip when everybody was selling it to buy snowdog. Wish I had found out a few hours sooner, but who knows how high it ends up going.
Max supply is only 33k coins. TIME's max supply is around 200k and it's been around $8k-$10k. Then you factor in them buying back / burning SDOG coins with all the bonded coins on day 8 and it could be decent.
Max supply is only 33k coins. TIME's max supply is around 200k and it's been around $8k-$10k. Then you factor in them buying back / burning SDOG coins with all the bonded coins on day 8 and it could be decent.
1
Posted on 11/17/21 at 11:34 pm to umrebel2009
I don’t understand half the language used in here and only use the coinbase app so I can’t get a lot of the shitte coins y’all pump.
I CAN get Jasmy on coinbase and it just boomed again out of no where. This is a long haul one for me. I know I keep mentioning it but it seems like a no brainer.
I CAN get Jasmy on coinbase and it just boomed again out of no where. This is a long haul one for me. I know I keep mentioning it but it seems like a no brainer.
This post was edited on 11/17/21 at 11:35 pm
Posted on 11/18/21 at 12:15 am to umrebel2009
I thought ohm forks would be a big deal but this shite is out of control right now lol
Posted on 11/18/21 at 12:23 am to umrebel2009
quote:
and now the makers of SB (Snowbank) came out with Snowdog (SDOG)(LINK /) which is also on AVAX. It's currently paying out 73,340,105,916,395,630,000,000,000,000,000,000% This one just launched a few hours ago, will pay out interest for the next 8 days then no more interest, and they will take all of the coins used to bond these tokens and buy up as many of the SDOG coins as they can with them to pump the coin then those coins will be burned and the supply will be locked. Then somehow those SDOG coins can be used on Snowbank pumping that also. I don't fully understand all of it but the number go up so I put some money in.
Christ. I don’t know how y’all keep up with all these schemes. I find it’s better to KISS
Posted on 11/18/21 at 5:22 am to umrebel2009
quote:
Avax fees are starting to go up now with more people starting to use it. Usually they're less than a dollar but I had one transaction that was several dollars earlier. Still nothing compared to Eth fees though
Thank you for this. I'm now buying more SOL.
Posted on 11/18/21 at 7:09 am to rocket31
They've taken a pretty legit capital-grabbing model and twisted it so far into ponzinomics it's kinda impressive 
Posted on 11/18/21 at 7:12 am to Hulkklogan
quote:
I've about doubled what I've put in this year.
Feel the need to correct myself here. I did not almost double what I put in, not even close. I said this and then decided I should check just how much I've put in..it was significantly more than I thought. I'm up ~20% on the year. I made some dumb plays and ate a lot of ETH and AVAX gas fees early on and lost a bunch. Thought I was doing way better than I was
This post was edited on 11/18/21 at 7:15 am
Posted on 11/18/21 at 7:44 am to Drank
quote:
I CAN get Jasmy on coinbase and it just boomed again out of no where.
Trying to divest some from the stock market and make sound decisions on placing it in the crypto market. Mostly focusing on Texos but just bought a $100 of this Jasmy you speak of. I’ve never heard of it. Can’t help but think that after a 42% gain is not the day to go ‘all in’ though.
Posted on 11/18/21 at 8:10 am to Drank
quote:
I don’t understand half the language used in here and only use the coinbase app so I can’t get a lot of the shitte coins y’all pump.
These coins/tokens are not on centralized exchanges like Coinbase, Gemini, Crypto.com, KuCoin, etc. These coins operate and trade in the decentralized space...thus defi (decentralized finance...I think that is right).
The most popular way to participate is to use the MetaMask wallet extension on Google Chrome. Once you have the MetaMask wallet installed you can fund your wallet by transferring your favorite crypto to your MetaMask wallet. Once there you can use various swapping sites to purchase your favorite tokens/coins. You can always find out were the coin or token is traded by going to CoinGeko or CoinMarketcap.com. Simply search for your token then scroll down to see where it is traded. The most popular swapping sites are uniswap, 1inch, sushiswap, cowswap, pancakeswap, spookyswap, etc.
These operate on different networks. The most popular network is the Ethereum Mainnet, but it has the most expensive fees. The network that is gaining popularity is the Avax network because their fees are pretty damn low. If you live in the U.S. and you try to use the Binance network you are going to have to do it by VPN. For some reason there are restrictions against U.S. customers using Binance. This is just an example. There are more networks than this but Ethereum is the most popular and most expensive and Avax is gaining a lot of Ethereum's market share due to their low gas fees.
There is a lot of detail I left out but if you do jump in the defi space I would recommend jumping in with a small amount at first so you can get your feet wet and understand how to navigate throughout the space. It's pretty easy and you'll catch on quick but there are dangers in terms of scammers. Never store or save your 12 word Metamask words on your computer and NEVER give out the words over the internet. This is how scammers steal your crypto in your Metamask wallet. And never connect to a website offering "airdrop" unless you are 100% sure it is legit. About 99% of airdrop sites are scams.
Once you build up a nice fortune in your Metamask wallet I would suggest moving your assets to cold storage like the Ledger Nano X. That way your crypto assets are physically disconnected from the internet and away from hackers.
Posted on 11/18/21 at 8:27 am to GumboPot
Any of y'all in on Defi Kingdoms on Harmony One?
This is a really fresh take on defi, and a whole arse RPG is being spun up on defi + NFTs. It's pretty slick, and the JEWEL token is doing very well while also being emitted at a high rate right now. I'm earning ~1100% APY while the token price is also increasing.
LINK
This is a really fresh take on defi, and a whole arse RPG is being spun up on defi + NFTs. It's pretty slick, and the JEWEL token is doing very well while also being emitted at a high rate right now. I'm earning ~1100% APY while the token price is also increasing.
LINK
Posted on 11/18/21 at 8:54 am to rocket31
Be careful on the OHM forks. The APY is meaningless. What you need to look at is the stake 5 day ROI and the BOND 5 day ROI.
If the bond 5 day is higher than the stake, you will be diluted and more than likely be losing money (aka diluted).
Smart thing is to both bond and stake IMO.
shite changes quick though so keep an eye out.
If the bond 5 day is higher than the stake, you will be diluted and more than likely be losing money (aka diluted).
Smart thing is to both bond and stake IMO.
shite changes quick though so keep an eye out.
This post was edited on 11/18/21 at 8:55 am
Posted on 11/18/21 at 9:05 am to JayDeerTay84
DAOs are catching steam and will be the next evolution in the crypto ecosystem.
Anyone has a favorite or know the best way to capitalize on this before the real DAO boom?
Anyone has a favorite or know the best way to capitalize on this before the real DAO boom?
This post was edited on 11/18/21 at 9:07 am
Posted on 11/18/21 at 9:17 am to LSUregit
Whichever one that figures out how to use their treasury effectively.
When you find that out let me know.
When you find that out let me know.
Posted on 11/18/21 at 9:27 am to LSUregit
my favorite is Solanamonkeybusiness. pretty sure it was the first from 3 or 4 months ago
Posted on 11/18/21 at 9:32 am to umrebel2009
quote:
73,340,105,916,395,630,000,000,000,000,000,000%
I just want to bring a little APY math to the board.
So APY = Principle(1+i)^(3*365)
The principle is your initial investment.
"i" is the periodic interest rate. For these DAO's periodic interest rate is applied every 8 hours.
So to determine the periodic interest rate for Snowdog after every rebase you would solve the above equation for "i". Assume you bought 1 Snowdog and that is your principle.
((73,340,105,916,395,630,000,000,000,000,000,000%)/100) = 1*(1+i)^(3*365)
i = 1 - (73,340,105,916,395,630,000,000,000,000,000,000)/100)^(1/(3*365))
i = 0.07607
Or every rebase every 8 hours your reward would be 0.07607 times your principle.
So your first rebase would be 1 * 0.07607.
Your second rebase would be 1.07607 * 0.07607.
And so on.
The problem with these DAOs is inflation due to rebase rewards. Inflation caused by printing and when people sell the price decreases. When the rate of price decrease is greater than the rebase rate you are in the red. But that is not the biggest risk with these massive APY DAOs. The biggest risks IMO is being rugged.
Posted on 11/18/21 at 9:34 am to GumboPot
what's the play this week gents, not sure what is causing the sell pressure so not sure how far we expect it to fall or how long it'll stay down
Is SOL @ 200 time to do a big buy or time to wait to see where it settles...
Is SOL @ 200 time to do a big buy or time to wait to see where it settles...
This post was edited on 11/18/21 at 9:36 am
Posted on 11/18/21 at 9:35 am to LSUregit
quote:
Anyone has a favorite or know the best way to capitalize on this before the real DAO boom?
Follow these guys on twitter and you will get notified when the next DAO on Avax will start. If you can get in early like Snowdog you can make a 3-4 bagger very quickly.
Posted on 11/18/21 at 9:38 am to Ross
I just bought back in at 200. took it awhile to get there but that was my target
I've been shilling Avax a lot but getting an entry into that would be wise. under 90 ideally. monitor the fees because they are increasing alongside adoption
I've been shilling Avax a lot but getting an entry into that would be wise. under 90 ideally. monitor the fees because they are increasing alongside adoption
This post was edited on 11/18/21 at 9:41 am
Posted on 11/18/21 at 9:40 am to eng08
quote:
Whichever one that figures out how to use their treasury effectively.
When you find that out let me know.
I'm sticking with Olympus for the long run. Everyone is forking them for a reason. The biggest downside currently with Olympus is they are on the expensive Eth network and Eth has high gas fees. The high gas fees scare away small players. But you can get wrapped sOHM (wsOHM) on Avax for much cheaper fees and wsOHM still gets rebase rewards like sOHM. LINK
Posted on 11/18/21 at 9:42 am to Ross
quote:
what's the play this week gents,
IMO, QRDO.
Waiting to get in under $8.50. Very strong cart.
My current limit buy order is set at 8.12. It's struggling to get there. There is a lot of support.
This post was edited on 11/18/21 at 9:45 am
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