@johnarb you are a much better person than I am engaging @NoahA There is so much garbage in every single one of your posts in this thread. I'll take an all encompassing answer to your OP. You asked us to change your view, and then you proceeded to not only disregard those answers from others but to push back further with more queer ursine theories. You are too stupid and/or ignorant, or in the best case undisciplined enough to make meaningful gains in crypto. Stay out of this space and go tick fuck ES.
Thank you very much! I want you and others to benefit and profit from cryptos Let me know If you have any questions on putting funds on Metamask, accessing OpenSea, verifying stuff on the blockchain (i.e. erc-721 NFT's do not show up on the Metamask wallet in the same way as other erc-20 tokens) There's a lot of opportunities for huge profits in cryptos, but there are also a lot of ways to lose money I do not use leverage. Look, I'm long 20 btc's, when we had the flash crash 2 weeks ago, I lost over $200K in value in a matter of hours and even more in the next few days That's only on my btc position, and I have other crypto position Since I do not use leverage, all those values have come back to the crypto portfolio plus more It's easy to be wrong on a crypto investment. I've had many crypto losers. Just move on if you think the proejct is not good anymore, you will make much more on a winning crypto position
%% Good points, Mr Noah; except an occasional penny stock in big bear market can go on actually have fundamental value + price. MAINLY, NEVER gamble or trade with money you cant afford to lose . And never panic sell \just because a yankee general like US Grant tries to destroy your confederate money or expells [order#11] Jews from MS, TN, KY. Some places in the south will still not take $50 Grant bills, some do. Happy Indian Day/Columbus day
We want more people in the cryptos ecosystem and the more successful the newcomers are, there will be more sustainable growth for everyone of us who are here We want to help each other out, otherwise the rich and powerful and the institutions are going to come and they will benefit more than the average investors There are more bitcoin app holders in El Salvador than the ones who have bank accounts. This happened in a matter of weeks. This is great
I think the NFT market is a bit too crazy for me. Honestly, just going to the OpenSea site and seeing what is available to buy makes me shake my head. I completely understand it from the point of view of a fad, and I can see how rich people want to show off their wealth, but I like stuff with a bit more substance and utility. Maybe NFT makes sense for some projects, but these things like cryptokitties escape my ability to understand, except if you're in at the floor and know you can unload it for a higher price. But it sounds like a ponzi scheme to me, the NFT market, whereas the coins at least have huge promise in terms of utility. I currently have a Kraken account, and so buying anything that this account has access to would be a good place to start. Do you think just focusing on coins will leave me out of making big gains? Do you think people need to go into the NFT market? When I see stuff like Solana or Fantom go up 10x, its kind of what I'm thinking. Or of course Matic that looks to have done over 7000% in this 1 year chart. So I think maybe just spreading some money out around a few coins might be a good place to start.
So, speaking only about cryptos investment... Raoul Pal put it very nicely on one of the videos I watched (imo), "everything is a risk curve" At the least riskiest of cryptos is bitcoin btc, being that it's the reserve asset of the cryptos ecosystem at this time. It could change in the future Ethereum is of course the second least riskiest, and is the biggest L1 smart contract platform Solana is a contender, as well as Tezos, Cardano, Binance Smart Chain, Avalanche for the smart contract platform L1 DeFi leaders are AAVE, Maker Dao, YFI, Curve, Compound, Terra Luna DeFi Dex leaders are Uniswap, Sushiswap, Pancakeswap, Spookyswap L2 scaling solutions that I know of are Matic, Lightning Network (no token for investments) The riskiest of them all are the NFT's, used for profile pictures on social media (pfp) as well as art and historical and collectible stuff Recently, on the NFT space, they are incorporating defi, yield farming tokens and digital assets to be used in metaverse. So these NFT's have utility to increase their values, the leader on this NFT utility is Cyber Kongz. I'm invested in Bears Deluxe so hopefully that's a second chance for others who missed out on Cyber Kongz Somewhere in the middle of those, you can put Arweave, Filcoin, Storj, which are utility tokens for decentralized storage and computing, think of AWS, and Dropbox Top to bottom, least risky to the riskiest, imho. Least reward to the most reward Raoul Pal recently mentioned his latest allocation to the crypto space, 70% Ethereum, 5% Bitcoin, 20% tokens and other projects, 5% NFT's He explains he switched to majority Ethereum and very small Bitcoin as during the bull market, you'd want to take advantage of the biggest gains by going further out the risk curve Me? I got a family and I don't have a job, and I feel already made it so now the highest priority is to keep our net worth value So my crypto portfolio is allocated to majority bitcoin, then the next biggest position is one with strong set of fundamentals, that can protect the value of the crypto asset Of course, cash is very important, so gotta have enough for years of expenses. No debts, no tail risks After those crypto positions, I can dabble in small crypto projects and NFT's. If Bears Deluxe NFT's become as successful as Cyber Kongz and hit even half the current valuation of Cyber Kongz, I'll trim the position to distribute to bitcoin I cannot give you financial advise as I'm not financial advisor. All of these are for entertainment purposes only Maybe you can pick a particular section in the cryptos risk curve or maybe allocate per your risk tolerance, you can look at my approach to get some ideas, but our financial situation may not be the same Baron mentioned his allocation on one of the posts so you can look at it to get some ideas as well Good luck
Wow, what an amazing summary! I remember watching a Real Vision video when Raoul went all into BTC. I think it was when it was around 10k, maybe 15k. So its sad to think how this was all kind of on my radar, but I never did jump in. I do know that even if I jumped in when BTC was 1k, or maybe even 5k, I would more than likely sold at 2x or 3x. There is no way I would ever think it would reach the 65k that it did. So in a way, I can't be mad for missing out because I'm sure I wouldn't have held on for years. How you had the vision and discipline I have no idea, so kudos to you! Its crazy to even look at the ETH chart and see it was at only $100 at the bottom of the Covid plunge, so for something like ETH, a person wouldn't even need to wait years. To complete the list above, what would you say about staking? Is it simply a way to earn interest for those people who want to own crypto for long term? And is the risk that they are taking that in order to earn 5 or 7% interest that they are locked in and may lose way more if the coin drops in value while they were prevented from selling since its locked away? Oh, and just so I understand, when you say you're invested in Bears Deluxe, does this simply mean that you own some of these NFTs and hope to sell them for a much higher price?
I'm in the IT field so I should have gotten even earlier to bitcoin than 2013, but I was working a lot of overtime and when I finally got the time to read up and learn about it, it clicked However, I recently finished the book "The Bitcoin Billionaires" and it was surprising how early some rich people were in bitcoin and how they understood the potential. I highly recommend the book but the beginning section is difficult to get through, I don't think staking for 5-10% is worth the risk I think over 40% APY is worth the risk, and there are projects that provide that, and I don't go with a staking that has a lockup The Bears Deluxe NFT's are following the Cyber Kongz NFT utility design For example, if you own 1 genesis Kong, you get 10 Banana's per day. Each banana is $83, so now you have a passive income. Imagine if you have 2 or 3 genesis Kong NFT's. There's other stuff you can do like minting a baby Kong worth $50K currently and VX Kong worth $7K at a cost of burning 600 bananas But to get back to the Bears Deluxe NFT's. It just came out 20 days ago, you could have minted 1 for the cost of $30, but now each Bears Deluxe NFT is worth over $10K The plan by the devs and the community and the project is to follow the model of the Cyber Kongz NFT So for each Bears Deluxe NFT, you'll get a daily airdrop of honey tokens, so if it becomes successful as Cyber Kongz, there will be value to the honey token, so can act like passive income The more Bears Deluxe NFT's you have the more honey tokens you'll get Kinda like if you have 5 genesis Kong NFT's you'll get over $4K of daily passive income There's no need to sell the NFT's for higher price, it will be like killing the goose that lays the golden egg But everything has a price, just like right now, you can purchase a genesis Kong on OpenSea for over $650K and recoup that purchase price in 2 years if banana tokens keep the price or even goes higher Hope everything makes sense
The only part that doesn't make sense is why anyone would buy something so silly as a Cyber Kongz or a Bears Deluxe! LOL... I understand the idea behind owning a digital something that is rare, that you can show off as being yours. If you're super rich and want your avatar to show how rich you are because you can proudly display it with a checkmark, then this is no different than a woman walking around with a Hermes bag. And I also understand that if there is a revenue stream, then this is no different than owning a stock of a company that pays a dividend. But I truly don't understand the purpose of these NFTs, other than them being the first to open up an entire industry that some people think is the future. Most importantly though, I have no idea how this money is being created for these bananas and honey and how likely that is to continue in the future. The company paying the dividend makes a product that people buy and its the income stream from the company that pays the dividend. But these NFTs don't really produce anything. And I'm sure even if I understood the revenue stream, its probably something that can vanish overnight once people move onto something else. So I guess the idea is buy them up when they are dirt cheap, and hope you found a cash cow that you can milk for however long the cow produces milk! (I did see a video on these Bears, and how excited the guy was, and how he talked about upcoming games, and honestly, its like grasping at straws to create perceived value. He did mention how 6.9k bears vs. 1k of the Cyberkongz will limit how expensive they can get, but it still all just seems so ridiculous) But saying all this, if another NFT comes up where it can be purchased at $30 and is rumored to be the next Cyberkongz or Deluxe bears, then lets back the truck up and buy as much as possible!