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Who had that Bitcoin target price prediction?

C

Chee-to

Michael Peterson status
Jan 11, 2002
2,429
977
113
crustBrother said:
Interesting. I don't know much about this sort of stuff. Seems like a different animal than the proof-of-stake staking I've been playing with. According to the article below its all about "shared pot".

I'm in!


View attachment 118066
Click to expand...

Yes, totally different. Proof of stake is about participating in the transaction validation process for a blockchain itself. You delegate your coins to a validator, the validator publishes/approves the transactions that make up the chain.

Liquidity pools are a decentralized method of exchanging tokens held on a particular blockchain. You stick equal values of Token A and Token B in a pool and let any address trade A for B or vice versa by simply sending the token to the pool smart contract. The pool charges a small fee, which goes to the liquidity providers. The pool site will also generally incentivize the pool by adding additional rewards in the form of governance tokens for the pool project itself.

If you look at https://polygon.curve.fi/pools and see the atricrypto3 pool - this is a liquidity pool created by Curve, one of if not the most solid DeFi projects out there, and hosted on the Polygon (MATIC) blockchain. MATIC uses EVM, which means it functions identically to Ethereum, but at a fraction of the gas. Atricrypto3 is a pool that consists of DAI, USDC, USDT, and wrapped BTC and ETH. It allows people to trade at very low slippage between those three stablecoins, BTC, and ETH. It has trading returns of 6.63% plus additional CRV (the Curve gov token) of 20% and additional wrapped MATIC of 11% (at the moment. These change constantly). You can sell off the CRV and wMATIC at Quickswap back for stablecoins. Every transaction costs fractions of a cent.
 
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afoaf

afoaf

Duke status
Jun 25, 2008
49,746
23,362
113
Chee-to said:
Yes, totally different. Proof of stake is about participating in the transaction validation process for a blockchain itself. You delegate your coins to a validator, the validator publishes/approves the transactions that make up the chain.

Liquidity pools are a decentralized method of exchanging tokens held on a particular blockchain. You stick equal values of Token A and Token B in a pool and let any address trade A for B or vice versa by simply sending the token to the pool smart contract. The pool charges a small fee, which goes to the liquidity providers. The pool site will also generally incentivize the pool by adding additional rewards in the form of governance tokens for the pool project itself.

If you look at https://polygon.curve.fi/pools and see the atricrypto3 pool - this is a liquidity pool created by Curve, one of if not the most solid DeFi projects out there, and hosted on the Polygon (MATIC) blockchain. MATIC uses EVM, which means it functions identically to Ethereum, but at a fraction of the gas. Atricrypto3 is a pool that consists of DAI, USDC, USDT, and wrapped BTC and ETH. It allows people to trade at very low slippage between those three stablecoins, BTC, and ETH. It has trading returns of 6.63% plus additional CRV (the Curve gov token) of 20% and additional wrapped MATIC of 11% (at the moment. These change constantly). You can sell off the CRV and wMATIC at Quickswap back for stablecoins. Every transaction costs fractions of a cent.
Click to expand...
uhhhh.......
 
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TheEl

TheEl

Billy Hamilton status
Oct 31, 2010
1,400
1,381
113
Im pretty new to this all but it seems like it boils down to how many transactions per second, how cheap those transactions can be, and how energy efficient the blockchain can be are the most important factors in determining if it will move ahead of the pack. From what I understand, BTC and ETH are basically like cassettes at this point and some of the newer blockchains out there are in the DVD-ROM territory. ADA seems like its gonna get left in the dust. HBAR looks like the most promising. And again, I have no idea what im talking about. :bricks:

*edit - there are also dexs and dapps and more sh!t I have no idea about.
 
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racer1

racer1

Tom Curren status
Apr 16, 2014
12,970
15,064
113
Honolulu, Hawaii
As nerdy as we want to get, I"m also trying to think as dumb as possible.
Dumb retail money coming in is going to buy what's easiest, lowest fruit and most popular and easiest to understand.
Ultimately it's going to be fomo retailers coming in and buying our bags.
 
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bird.LA

bird.LA

Rabbitt Bartholomew status
Jul 14, 2002
8,124
1,806
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LA
Anybody looking to pool their coins should google impermanent loss to make sure they understand the downside risks.
 
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bird.LA

bird.LA

Rabbitt Bartholomew status
Jul 14, 2002
8,124
1,806
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LA
racer1 said:
As nerdy as we want to get, I"m also trying to think as dumb as possible.
Dumb retail money coming in is going to buy what's easiest, lowest fruit and most popular and easiest to understand.
Ultimately it's going to be fomo retailers coming in and buying our bags.
Click to expand...
Are you sure you aren't the fomo retailer?
 
bird.LA

bird.LA

Rabbitt Bartholomew status
Jul 14, 2002
8,124
1,806
113
LA
TheEl said:
@bird.LA what am I missing. I want to learn.
Click to expand...
I really don't know much and am pretty unqualified to make recommendations. That said, any project that loudly proclaims energy efficiency as one of its main selling points is a red flag to me. Designed to attract the kind of normies who buy into the crypto is boiling the oceans silliness.

There are a lot of alt L1s getting a lot of attention from people who know these days. HBAR is not one of them as far as I can tell.

Still, that marketing approach that's a red flag for me could work out as a shitcoin investment. IDK. People def made money on ADA, so what do I know.
 
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crustBrother

crustBrother

Kelly Slater status
Apr 23, 2001
9,349
5,556
113
bird.LA said:
I really don't know much and am pretty unqualified to make recommendations. That said, any project that loudly proclaims energy efficiency as one of its main selling points is a red flag to me. Designed to attract the kind of normies who buy into the crypto is boiling the oceans silliness.

There are a lot of alt L1s getting a lot of attention from people who know these days. HBAR is not one of them as far as I can tell.

Still, that marketing approach that's a red flag for me could work out as a shitcoin investment. IDK. People def made money on ADA, so what do I know.
Click to expand...
I know nothing!

But I did shift most of my holdings from BTC to ETH months ago, maybe a year now, in anticipation of the positive marketing effect that I anticipate from ETH transition from POW to POS. Plus my 16 year old told me that BTC was a dumb cryptocurrency for stupid people.

:roflmao:
 
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afoaf

afoaf

Duke status
Jun 25, 2008
49,746
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crustBrother said:
I know nothing!

But I did shift most of my holdings from BTC to ETH months ago, maybe a year now, in anticipation of the positive marketing effect that I anticipate from ETH transition from POW to POS. Plus my 16 year old told me that BTC was a dumb cryptocurrency for stupid people.

:roflmao:
Click to expand...
I went in heavier on ETH because of some of your earlier posts. I'm doing the best on that coin.

I've made 80% on NuCypher this year on a small position and am tempted to dump it because it was just some rando I bought because someone said something something here and I was probably stoned to the bone at the time
 
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LifeOnMars

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,106
113
bird.LA said:
I really don't know much and am pretty unqualified to make recommendations. That said, any project that loudly proclaims energy efficiency as one of its main selling points is a red flag to me. Designed to attract the kind of normies who buy into the crypto is boiling the oceans silliness.

There are a lot of alt L1s getting a lot of attention from people who know these days. HBAR is not one of them as far as I can tell.

Still, that marketing approach that's a red flag for me could work out as a shitcoin investment. IDK. People def made money on ADA, so what do I know.
Click to expand...
HBAR is legit, very similar to FTM without the hype. They've got major corps in their "governing council", could be something very big a few years down the line.

hedera.com

Hedera Global Governing Council | Hedera

Up to 39 collusion-resistant organizations lead the Hedera network. Each Council member is committed to network innovation, stability, and its continued decentralization.
hedera.com hedera.com
 
bird.LA

bird.LA

Rabbitt Bartholomew status
Jul 14, 2002
8,124
1,806
113
LA
LifeOnMars said:
HBAR is legit, very similar to FTM without the hype. They've got major corps in their "governing council", could be something very big a few years down the line.

hedera.com

Hedera Global Governing Council | Hedera

Up to 39 collusion-resistant organizations lead the Hedera network. Each Council member is committed to network innovation, stability, and its continued decentralization.
hedera.com hedera.com
Click to expand...
A few years? I'll buy in the bear maybe LOL. Plus those companies just scream boomer-fi and turn me off even more.

The hype is what makes these ponzis work!

ONE or SCRT more attractive to me right now.
 
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crustBrother

crustBrother

Kelly Slater status
Apr 23, 2001
9,349
5,556
113
afoaf said:
I went in heavier on ETH because of some of your earlier posts. I'm doing the best on that coin.
Click to expand...
I'm still holding and hoping, but, without actually crunching any numbers, it looks to me like ETH is still pretty much just following BTC trend. I'm thinking a lot of people might be on the sidelines waiting to see if the POW --> POS converstion actually, uh, you know.... *works*? lol :shrug:
 
LifeOnMars

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,106
113
bird.LA said:
A few years? I'll buy in the bear maybe LOL. Plus those companies just scream boomer-fi and turn me off even more.

The hype is what makes these ponzis work!

ONE or SCRT more attractive to me right now.
Click to expand...
HBAR is enterprise grade, it's what is needed to see widespread corporate adoption. The tech needs to be put to use somewhere or else it's just "vaporware"
 
TheEl

TheEl

Billy Hamilton status
Oct 31, 2010
1,400
1,381
113
bird.LA said:
A few years? I'll buy in the bear maybe LOL. Plus those companies just scream boomer-fi and turn me off even more.

The hype is what makes these ponzis work!

ONE or SCRT more attractive to me right now.
Click to expand...
now I understand your perspective.
 
Subway

Subway

Administrator
Staff member
Dec 31, 2008
13,548
10,249
113
LBNY
Na
racer1 said:
As nerdy as we want to get, I"m also trying to think as dumb as possible.
Dumb retail money coming in is going to buy what's easiest, lowest fruit and most popular and easiest to understand.
Ultimately it's going to be fomo retailers coming in and buying our bags.
Click to expand...
nailed it. That’s why I just bought a bit of the few most popular ones, and see if they keep going up
 
Subway

Subway

Administrator
Staff member
Dec 31, 2008
13,548
10,249
113
LBNY
I finally had to PAY to sell my “hey let’s see what happens? shares of Charlottes Web.
 
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