Dude, you said you were focused on risk management? Do you know it or you just like to say it? No, btc will continue to be my biggest portfolio allocation. enough said You talk about NGU all the time, and yet remember when I brought up 2omb to you and you said blah blah blah, it's a scam, it will crash, you got out coz it's run by 16yo dev? How's this for NGU, since the time we discussed it, my investment in it is up over 500% I played it safely, collected all rewards to get capital investment, everything is house money now, and hodling and compounding rewards Where were you? Oh you got out, because you thought the risk was too high I'm not hating on you for staying away, it's your risk management decision but you preaching NGU is the most important metric misses the most important thing in the markets RISK versus REWARD Read some books, bro, Market Wizards, Trading in the Zone, Reminiscenses of a stock operator, many many out there
I was playing like 5 Tomb forks at the same time, if you took the same approach with all of them as you did with 2OMB, you would have lost, badly. I made profit and moved on, take the early safe exit rather than doubling down on what are ponzi schemes as literally defined by the code itself. You want to stick with crowded trades, have fun, good luck. I'm focusing on optimal early entries and also tightening up my exits. The runways on all these alt moves are getting shorter, the dumps will get even more vicious. BTC dumps 85% in bear market, ETH 90%, L1 alts do even worse. If BTC 3x from here, ETH will do at least a 5x. I dunno, one just seems to have the obviously better risk/reward. You love BTC, great. Buy more, go all in and then some. Hope you actually pump it, so that its price action can pump my bags. Or don't. Doesn't really matter to me, I'm not trying to convince you or anyone else here that they have to buy this or that crypto, just making some objective points. Really, there is no need to get so emotional about it. It's just money. It's made up.
You're right, I don't need to be emotional. Idc what you do with your money or how you make money I wish for you to be successful and others in cryptos My concern is that your posts are talking about chasing profits, just like this post. That's fine if they are like you and are quick and experienced What happens to others who are not able to be as nimble as you are? That's how retail pleb crypto normies get rekt They become exit liquidity in things like Doge and Shiba as those get listed on major exchanges Good luck
I'm just cutting through the BS, it's pretty much 99% about making gainz. That's what the masses want, that's what the crypto market is clearly saying. That's what attracted 90% of the people to BTC & crypto in the first place and now attracts 99% of the people. That has always been the most successful marketing point and the only narrative that sustained. Why romanticize it when Satoshi's own communications & whitepaper clearly outlines that BTC was never intended to be a store of value. Guess that narrative did not even have a chance. The site is called EliteTrader after all. Isn't that why we are here? To make profits?
Profits balanced with risks Some of us are speculators and more long term-thinking If I chased every meme and NFT and ico's and forks and daos, I would be wiped out Bitcoin has been a store of value if you look at long-term. No one who bought btc and held for 3 years lost money And we come full circle to risk management We have different strategies for how to build and keep wealth It's ok, though, as long as we all succeed NFA
Thanks again johnarb for the Tomb iteration. It's amazing that a week ago TVL was 7mil and now it's 124mil. Great project!
On another note, AssangeDAO has emerged in an attempt to gain the leaderboard topspot on Pak's drop. The emergence of DAO's is will be a major theme this year. Also the emergence of DAC's (Distributed Autonomous Company), where payroll is also part of the structure. One of the weakness of a DAO is that not all opinions represented by votes should have the same weight. https://www.elitetrader.com/et/threads/blue-chip-nfts.363414/page-2#post-5538321
I disagree on the last sentence. With the sell-offs that occurred this past calendar year, DeFi performed surprisingly well with a reduced severity of cascading liquidations.
Thanks!! It has gone from ridiculous to ridiculously insane!! Before the partnership with Tomb (Harry Yeh), it was already crazy with the thousands of percent APR's, now the APR's have come down but the price has mooned!! So the rewards are still 5 digits every day Even though I think the price is going to continue going up, I started taking profits last night (trimming the position). Will do more today 2omb community always advises taking profits Take profits every day, even half or all or a portion of the rewards Sell on the green, buy on the red DBEL - don't be exit liquidity They're doing testimonials from the community, the stories are a lot of feel-good stories, many are quitting their jobs because they earn multiple their incomes now in yields, some paid off very high student loans and some have become millionaires Good stuff and I'm glad you were able to take participate(?)
Thank you, Sprout So far, in line of the thread Crypto macro, I think we can start to recognize Defi as a trend for this year, DAO and yields (not necessarily yield-farming, i.e. AAVE or GEIST) I saw the news there's a DAO that may liquidate 85 BAYC, and that would be good, I want to get a Bored Ape but price floor keeps going up!! lol On a related topic, saw in the news that IRS won't be taxing staked crypto assets, just saw the headlines It's an interesting development The crypto users will be able to fully utilize crypto's very important value proposition without having to worry about being unfairly taxed and the IRS will be able to get the information that they are having difficulties to access due to the decentralized nature of the platforms. It's a win-win. NFA, please, please, please everyone should consult with tax professionals