Interesting. I have an NFT so I guess I'm doing things on chain!I take a very different view of this space from R32 (not that either is wrong) but I would much rather be trading on a decentralized exchange (dex) or as R32 called it a "swap" than waiting for good projects to arrive on a centralized exchange.
On-chain is where you can not only get coins loooong before they arrive on Coinbase but also get access to all of Defi. (Refer to Chee-to's thread for more of that.) You can also get rugged.
Transacting and doing things on-chain is what we're referring to when we talk about the use case of L1s. They are the 1st layer upon which other tokens and functionality are built.
For example, on the ETH L1, you can trade ETH for other coins (SHIB is an example of a token launched on Ethereum) on a dex like Uniswap or Sushi, stake coins, earn interest, and do a whole host of other things. The trade off is that every interaction with the chain incurs a transaction fee. On ETH that gets very expensive very fast. AVAX, SOL, LUNA, and others are much cheaper to interact with.
I think that anything that someone holds long term on a conviction play it makes 100% sense to be on-chain. R32 is day-trading useless shitcoins IMO (nothing wrong with that) but it's a different approach.
AVAX was added to Coinbase on 9/29 at $61. You could have bought it on 9/1 at $40 if you'd bridged from ETH to AVAX ahead of the Coinbase listing (or less if you used the AVAX bridge earlier in its existence.)
Without being on-chain, you're not getting NFTs until the new Coinbase platform launches. You're not getting some of this cycle's strongest projects like OHM. You're not earning the same interest you can earn on-chain. You're not controlling your own keys.
Speaking of NFT....
I Only Read Playboy for Its Gorgeous Non-Fungible Token Strategy
PLBY Group is becoming a real centerfold for its crypto play. Other big brands could learn from this one.
realmoney.thestreet.com