FTX is an appealing platform and would love to use it if it were not for the geo-blocking. VPN's are a work around but the 2FA would be revealing. CreamY is appealing in how they are addressing liquidity distinct from Curve. All eyes seem to be on BTC atm. Even YFI is experiencing a lot of selling pressure ~$22k. What are you using as a DeFi dashboard?
I've never used FTX (only use Binance with VPN and fake emails, 2 BTC's value daily withdrawal is more than enough for me), but I have a SIM from SE Asia that is roaming and I just pop it to my cell phone and I can send and receive text messages. I think they sell these SIM's on ebay, might be worth to have one handy. Yes, BTC went down today, but not as much as the alts. This is why I don't want the stock market to go down or crash, it seems the same investors/speculators are heavily in the (tech sector) of the stock market and also in the cryptos (mainly in the alts) and when stock market goes down hard, cryptos go down even harder. Cryptos don't seem to lead, though, just follow. I bought a little over 1 YFI at $39K'sh, so down a lot on it, but I have it earning 140% APY on YFV platform (payable in YFV tokens which can be sold for stablecoins) and doing the same thing with LEND which is earning 200% APY. Cream same goals, I have it deposited (single asset LP) on the Cream platform earning 250% APY. Since I rebalanced my crypto portfolio, all my holdings are the ones I can hodl long term and in my preferred portfolio allocation and they are all down but will hodl, still sleeping well at night, for now My top 3 holdings are doing ok for now compared to the rest of my portfolio so it's a short term win/validation of the strategy I use Cryptopanic (has news integration) and CryptoCompare as portfolio trackers with no wallet integration so I can watch portfolio valuation from anywhere. Zapper Fi I use with one of my Metamask wallets, it's ok, but I don't rely on it heavily. Zapper Fi is how I found the YFV platform, on the invest section, it was suggesting for me to deposit my Dai tokens and other stablecoins and I could see it was offering yield in YFV, so instead of doing it automated on the Zapper Fi platform, I went to the YFV platform directly and did everything manually as I prefer to be hands on to see all the different pieces and smart contract agreements. Once I did that on the YFV platform, Zapper Fi showed it on the dashboard and that's when I explored the other YFV offerings if it's good enough for Zapper Fi (they probably have a partnership and Zapper Fi gets incentives to promote and integrate it), that's at least one level of validation of the YFV platform
Oh, like a true degen, I bought some $meme last night and farming 5 meme's which is the maximum staking allowed on the platform so I can get pineapples to be able to mint the NFT's. I might buy some more today and start another staking on a different wallet. I love arts, even though I don't have any and also don't know anything about it and also I cannot draw, literally. I figure this might be a way for me to own some digital arts, some very nice stuff out there and if they are represented by NFT and I can somehow have ownership of these digital arts and digitally signed by unbreakable cryptographic hash recorded on the blockchain, might turn out to be the future da Vinci or something, lol. At least I don't have to worry about purchasing a forgery, hmmm. The NFT's minted can be sold so they are "free", same concept as yield farming (in fact they are called farming pineapples that are used for minting NFT's). I can always sell the $meme after I have enough NFT's or get tired of the concept. $meme doing ok today, degens waiting for it to be worth 5 figures same as YFI since it has less token supply, https://dontbuymeme.com/
Well, as the hype wave builds on $meme, we can anticipate another stress test for ETH. These things should really be developed on L2 since the encapsulation wouldn’t congest mainnet. Cryptokitties 2.0 May you have good fortune with $meme. I’d prolly start with cypherpunks myself since it has a historical context, maybe if I ever go full degen. If so, then how can a collection be complete without $chad? I just love how this whole space culture jams tradFi with humor and inside jokes with the gamification of ‘investing’ btw, what ever became of cryptokitties?
I believe cryptokitties died a horrible death. I didn't experience it as I was not into Eth at the time, more on XMR and ICO's getting hundreds of percent returns with some and 0% (or big losses on others). I did have a chance to buy into the Pepe craze as it was mentioned many times in the Monero IRC trading channels (partly as a joke and partly as gamble) but I was not a degen back then, lol. Before going TL;DR on $meme, DeFi investors should have some big concerns with the continuing crash of the DeFi sector. I think it's temporary, but we have to be prepared for a prolonged struggle. All my DeFi coins are in an income-generating setup (very high APY's, except Melon $MLN) and that's my defensive tactic for this downturn and hoping it's enough for survival. My biggest portfolio holding became Celsius $CEL because it mooned in the past 10 days, but it has always been classified as CeFi (there's a licensed company running the operations with employees) by the market and not listed on DeFi pulse and the likes. Of course their main business is lending/borrowing and they have tokens CEL which benefit from the tokenomics so it can get hit by this DeFi downturn (hopefully not). Meme is 100% Cryptokitties 2.0, imho. It is incorporating tokenomics and that's part of the improvement since it is version 2.0 of the same hype pumpamentals cryptokitties. I find myself engulfed in the Tokenomics gamification, tbh. Last night, I was sitting on big gains possibly a 2x overall, as I did not enter all in one shot, the first 8 at low 2.x Eth but the last 7 memes were over 3 Eth. I saw the price hit above 5.7 Eth per meme last night, it has pulled back and could be on the way to a crash at now, it's 4.0x Eth (oops just dipped below 4.0 Eth) Last night, I was thinking wtf am I doing, I should be selling now with big profits since my other positions DeFi coins are going down hard, but then I start to think of the tokenomics gamification that I'm aware of that the a big percentage of the meme tokens are locked into the tokenomics of staking pineapples for use in minting NFT's, it's an ecosystem that creates value and a self-feeding loop. I'm staking 15 meme's so if I sell, then I lose my staking and lose NFT's that could be the next big thing in cryptos or not but it's creating a marketplace that is all intertwined. Similar concept as yield farming with yields paid out for supporting the ecosystem by being an automated market maker in an LP, but that's easier to understand as that's straightforward financial instruments and incentives, with NFT's and digital arts, it's a very brand new market and harder to value them or if they even have any value. Art is valued by the price the highest bidder is willing to pay for it, as in a Renoir is valued by the person that is willing to pay the highest price for it as the last price does not matter much as it's in the past, but it is used for reference by other wealthy f*ckers, lol Anyway, gotta make a decision soon, profits is evaporating faster than a dry ice, meme is now 3.7 Eth...
Update: There's a bounce, so I sold 5 meme's at 4.5'sh so locking in some profits, but 2/3 of the position still at risk. Tokenomics is strong on this as the pineapples used for minting NFT's cannot be transferred to another wallet as it's not erc-20. I was somewhat aware of it as it was mentioned on the website you cannot transfer earned pineapples between pools or accounts. The NFT's digital arts I own currently cannot be transferred (sold or gifted) without a marketplace platform like Rarible, OpenSea or SuperRare so it follows the same blockchain ownership system. I'm thinking if I understand some Solidity I can do some direct smart contract blockchain interaction/changes through Etherscan or something. I'll look into it but have to be careful not to "destroy" or burn other stuff in the wallet, as I do have valuable cryptos in the wallet, lol, I'll have to transfer them out, first. [Edit again: Sold another 5 $meme at 4.3'sh Eth each. I'm doing some quick calculations in my head, basically because I'm in profit in Eth I can actually purchase the NFT's that I'm trying to mint for so I don't really need the pineapples I'm mining. It works out for me as I have profits, if I was underwater, the calculations won't make sense to own these NFT's digital arts. I still have 5 meme's that are mining the Sven Art collection that are not available in the marketplace as they are exclusive minting for $meme as pieces/collection. It's all good, I still have skin in the meme game, until I decide to sell them or what not. I got most of the risk capital, so can take risk with the remaining 5 meme's]
Did you mean $chads? lol. I bought $3K worth of chads last week, 32K of chads, and I was thinking of hodling for the eventual pump as these pump & dumps go, but during my derisking process, it got closed out for a loss of about $7-800. Now I look at it as you mentioned it, I could have had a profit of $1400 instead??! lmao. It's cool, I have some positions that I would have taken heavy losses if I did not derisk at the time, so it all balances out. https://coinmarketcap.com/currencies/chads-vc/
Final update on the $meme: Sold the last 5 $meme 4.0'sh Eth each, as it was going down again. Just being very defensive at this time, so taking the profits whatever is left. Wish I sold last night, but shoulda, coulda, woulda....
I signed up for the FTX, just to see what the process looks like. It recognized my foreign country (based on VPN ) when filling out the address, and I just went on google and searched for a Hilton hotel in the area and gave that as the city and state. Here's the thing, you should never use SMS as 2FA for cryptos. I use Authy (google authenticator compatible) for 2FA. I've never used a phone number for signing up with Binance, Huobi, Kucoin, etc, and no one should. I'm verified for Level 1 at FTX, daily withdrawal limit $2K - $9K, but I would only use it for small amounts, closer to the $2K limit, if I'm going to even use it at all. All that I provided is a throwaway email, a fake name (western name, even) and a fake address. It's an interesting platform but completely foreign to me, but it's got these Perps futures, sounds interesting and now I see some of my cryptos holdings with a price that has been mentioned in discord chats as predictive (discounted when Cream was above $200) signaling a crash at the time.