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Blockchain Tech and Cryptocurrencies

Just whales filling their bags one last time in the 3ks and shaking out the overleveraged.
 
Y'all are missing out on some fun DeFi farming. YFI went from $35 to $4k this week.
 
OK. Great thread and loved reading through the history. I started moving in back in April/May with BTC and ETH. Then have moved into a series of alts with funds I can afford to drain if things don't work. Any of you younger guns are probably really wise to park some of your money in this space. There are few asset classes that offer an asymmetric reward to risk like this space - in fact, I suspect there are no other asset classes like this. Where the hell do you park your money if you're in your 20's or 30's? Stock market at all time high. Land, insane prices. Gold and silver (yes). But it sure seems like assets in this class, if picked wisely, may offer the best returns longer term.

A few observations about this space.

1 - Central banks are going to all go digital. Already seeing it get tested with China and Japan. The US is not going to sit idly by and allow China to have the most flexible currency on earth. The implications of this are both incredibly exciting and incredibly scary. We could well see the rise of behavior manipulation by central banks in ways that feel unbelievably intrusive and, potentially, cruel (live in China and want to eat? we'll give you your monthly allowance when you disavow X or Y thing you recently said online). And you will never be able to engage in an unknown transaction involving currency. You want things to be anonymous, you'll be tipping people with common goods.

Anyway, check out QNT. Hard to gage how real the tech is. But if it is real it is worth a flyer. I bought in around 8.50.

2 - The rewards associated with staking without having to deal with impermanent loss risks are pretty compelling with a number of projects. STRONG right now is generating 486% annual returns. I'm sure there are others like it. Take profits and once you reach freebie land let the rest ride. I'm sure these return rates will drop over time. But man, it's a gravy train right now. Not even a huge fan of the project. Concept makes sense, but not a big believer in the way they have structured the token.

3 - Looking forward to see what happens to the price of ETH once staking takes a ton of it off the market.

4 - BTC. The amount of institutional interest in BTC is absolutely mad right now. Just DCA it and forget it unless you are someone who is adept at active trading (and I'm not). Big money is on the way in.

5 - Those of you who bought into LINK south of say $5 are fucking legends. If you believe in the fundamental growth of blockchain tech over time (and I do), this is one you buy take profit as you go and then let the rest ride. The potential gains over a decade are sick.

6 - DOT. Holy hell this has potential. Risk/reward of this vs ETH is compelling. Like anything else it could fail. I'm just saying its market cap vs. that of ETH suggests a potential asymmetric return. It can both compliment and compete with ETH. And you can stake it and earn passive return. Another one to DCA on for a while.

Others I'm taking a flyer on (in some cases flat or down and in others already took profit and letting the rest ride) - AAVE, ANKR (absolutely love the concept), UNI (will be interesting, as with all the defi projects, to see how regulators eventually deal with it), RLC (distributed cloud computing - when AI takes hold this could be an interesting play), KSM, OCEAN (not the best token economics and may take time to create the markets bc the centralized players will be so resistant, but worth a flyer) and EWT (insane long term potential but it will require some real patience as the inflation on the token is maybe 10-20% a year).

UNI is what turned me on to the potential for central banks to dominate our lives. It's like 10 guys in a garage and they instantaneously directly sent over 300,000 people 400 tokens each. A real aha moment for an older fart.

Good luck!
 
DeacMan said:
And I just read that PayPal is going to enable the use of crypto in transactions - making direct reference to the future of digital central bank currencies as one reason. That is huge news for the space generally.
Click to expand...

Is Amazon on board with using crypto currencies yet?
 
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I’m looking for some help. Hopefully someone can explain this to me like I’m 5.

I was gifted some Bitcoin a few years back. I’d now like to sell it, cash it in - whatever one does to get non-crypto money. The actual gift was fake money with a really long series of numbers. What do I do? Thanks!
 
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