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Utopia Talk / Politics / Crypto Corner
nhill
Member
Mon Aug 30 17:53:11
God damn it must eat you lurkers alive to see me making so much dough. XD

Trading Performance June 29th-Aug 30th:

BTC: +36.7%
nhill: +75.5%
S&P 500: +5.6%

Let's gooooooo!
nhill
Member
Mon Aug 30 17:54:33
Closing ETH short @ $3283

+1.7%

AGAIN. BOOM. 12 wins in a row, both on the long and short side!
nhill
Member
Mon Aug 30 19:02:55
Buying 3221
nhill
Member
Tue Aug 31 02:43:24
Closing 3350

Holy fuck, another +4%
nhill
Member
Tue Aug 31 02:43:35
wtf is wrong with me right now
nhill
Member
Tue Aug 31 03:31:54
Shorting 3362
Nimatzo
iChihuaha
Tue Aug 31 03:34:39
It is insane. Imagine one day in the future all this volatility will be gone and we can only tell our grand children about how we surfed the crypto tsunamis.
Nimatzo
iChihuaha
Tue Aug 31 04:48:39
I have been trying to get more reckless and greedy with my trades in order to get in touch with my hodler side and balance out the day trading sickness. I did one last trade yesterday, bought RAY 13,173 and it instantly put me a deep red hole. GOOD. Because now I have to wait. I figure I will keep doing this, either I get 3-5% trades that day or it puts me in a deeper hole that requires some hodling. I know my brain and I have to take some extreme measures now to balance this out. I am missing too many big trends!

I will do it only with RAY, FTM and the like, the stuff that can potentially 50-100x

Buy FTM 0,8424
Nimatzo
iChihuaha
Tue Aug 31 05:23:20
I have read some more about Luna and its' algorithmic stable coin Terra.

Started wondering about stable coins at large. What is the future of stable coins? Will they be stamped out or regulated into the fold? Considering several countries are either working or thinking of creating their own digital currency. Will it matter for this that the coins are collateralized or algorithmic? I sense there is some qualitative difference here for regulatory purpose.
nhill
Member
Tue Aug 31 09:14:44
FTM looks like it might be starting to rotate out. It tends to correct pretty hard when people rotate to Avalanche & Solana. But I wouldn't worry about it. It's been doing this since around $0.20, and keeps pushing up to a new ceiling.

$RAY looks pretty tasty today.

$LUNA is on my list to research, along with a few others you mentioned. I haven't gone deep into them yet!

> Imagine one day in the future all this volatility will be gone and we can only tell our grand children about how we surfed the crypto tsunamis.

It's like our version of the wild wild west. Unregulated digital frontier populated with dangerous whales and sharks. ;)

> Started wondering about stable coins at large. What is the future of stable coins? Will they be stamped out or regulated into the fold? Considering several countries are either working or thinking of creating their own digital currency. Will it matter for this that the coins are collateralized or algorithmic? I sense there is some qualitative difference here for regulatory purpose.

I think the collateralized stablecoins will always have an advantage stability-wise, and therefore also regulatory-wise. They are more straightforward than the algorithmic systems. But my big hope is that we have a real crypto-native reserve assets, like $OHM is trying to be. The chances of it actually being $OHM is probably quite low, especially since $OHM is only on Ethereum at the moment. But I like the idea.
nhill
Member
Tue Aug 31 13:02:36
It looks like now funds are rotating back into $ETH from other L1s like SOL and FTM.

Good. Buying some more FTM here. (not a trade signal, I'm going to scale into a buy) :)
nhill
Member
Tue Aug 31 16:39:12
IMO $0.60 will probably be the new bottom for FTM. Then it'll go up from there.

The price dip is partially because Binance FTM withdrawals are broken, so people can't transfer their funds, and most likely sell until withdrawals are fixed.

This is why CEX sucks.
nhill
Member
Tue Aug 31 22:55:07
Shorting again 3430
nhill
Member
Tue Aug 31 23:33:13
We are so close to rescuing Chuck :D
nhill
Member
Tue Aug 31 23:38:07
Just sold an NFT for 475% gain in 10 days.
nhill
Member
Wed Sep 01 00:16:07
WE DID IT! Chuck's in the green! (for this second) ;)
nhill
Member
Wed Sep 01 00:18:23
Oh man looks like my streak is about to get rekt. I love it. Just like last time I end a hot streak by getting rekt shorting. This time ETH instead of BTC!

But I'm holding onto my short for now. Why not. DeFi bags pumping hard, so I can afford the insurance ;)
nhill
Member
Wed Sep 01 09:10:57
$FTM at $0.95!
Nimatzo
iChihuaha
Wed Sep 01 09:59:06
Ended up selling RAY 13,6
Bought again at 12,4

I lowered average price for FTM to 0,8 and that sucker blew up today and the sell order that I placed yesterday at 0,9 actually triggered while I was typing this. +12.5%

I am totally fine sitting in the red during a pull back, we are in the kind of market where such "mistakes" will sort themselves out most of the time, provided some patience and cool.
I bought 2,2 BTC (and 4 ETH) in 2018 at around 7K USD, it has been quite the roller coaster!

Slowly getting into a swing trader time frame.

Read about $OHM, the concept of "crypto-native reserve assets" sounds interesting.



What you wrote about stable coins, that is actually the complete opposite of how LUNA/terra are marketing their algo. based stable coin. They say this will result in more stability. People say all kinds of shit when they are marketing stuff, so I will be interested in hearing your more critical take when you have researched it.
nhill
Member
Wed Sep 01 11:01:23
Nice! That's a good approach. $RAY should bounce back once investors rotate around to it. I have my $SOL-$RAY LP farming over 100% yield natively on-chain. No reason to touch it.

I'll be sure to look at LUNA/Terra soon, they sound interesting, but right now I've been learning NFTs.

If you're curious, I can teach you how to flip NFTs successfully. It's a fun little game, like catching pokemon :D

It's another classic midwit trap. Some people just buy them because number go up. The midwits say stuff like "but u can just right click copy", "this is money laundering", etc.

The smart ones understand art, ownership, and how value is determined.

That said, right now it's entering a bubble phase, so be aware of that. I took profits on my initial investment to secure the bag and now I'm trading from project to project. Making a killing.
Nimatzo
iChihuaha
Wed Sep 01 11:27:26
"If you're curious, I can teach you how to flip NFTs successfully. It's a fun little game, like catching pokemon :D"

You know, my father is actually an artist, the classical kind, so my parents home have always been covered with his painting and sculptures (classical timeless stuff). I actually have been meaning to learn more about NFTs to see if I can do something with his art. The answer is YES, I am curious :)

I also have a musician friend who has already sold some of his own art for about 20K USD.

"The smart ones understand art, ownership, and how value is determined."

They don't see the value of owning the license to a digital work of art, on an immutable and incorruptible platform. Just the fact that royalties become something you can't cheat people out of is da huge improvement for artists.

I think I got over this when I heard a guy in my guild way way back in World of warcraft days sell his account for 5k USD. Like holy crap! The detractors will say, well you can actually play the game with the characters and the legendary items and get many hours of fun, but what can you do with the NFT art? So.. looking at one set of pixels and why that is worth thousands of dollars, you get that, but not another set of pixels? What do you think people who love art do? They stare at those pieces endlessly, they show it to their friends to impress etc. and so on. It's art!

Nimatzo
iChihuaha
Wed Sep 01 12:11:01
Holy shit ETH just went into orbit. Too bad I’m all stablecoin besides my RAY atm… :(
Nimatzo
iChihuaha
Wed Sep 01 17:02:09
Fuck it, I bought some ETH again 3769. I don't even care anymore, to the moon or DEATH!
nhill
Member
Wed Sep 01 18:35:25
Nice! I've been looking for a pullback but it's not giving me anything. Going to close my short here for -12.1%.

I'll buy on a pullback.

Chuck is up 8% if he's still holding!
nhill
Member
Wed Sep 01 18:46:40
"You know, my father is actually an artist, the classical kind, so my parents home have always been covered with his painting and sculptures (classical timeless stuff). I actually have been meaning to learn more about NFTs to see if I can do something with his art. The answer is YES, I am curious :)"

That part of things is more straightforward. You can mint an NFT for your digital art, and there's systems in place to verify you cryptographically on marketplaces like opensea.io. Then it's up to you to find a buyer (marketing), or you can upload it there and hope someone sees it.

But that's not what NFT flipping is all about right now, or at least that's not where the profit is for someone like you and me that aren't artists (I presume).

NFT flipping right now successfully can be broken into three components:
60% community
30% scarcity
9% novelty
1% art

Art is actually the least important part of flipping NFTs. It's a bit sad, because artists don't really benefit unless they are hired by a team. It's not quite the independent art revolution people think it is. But let me explain:

I'll give you an example:
http://kaijucards.io/

60% Community

90% of flipping NFTs successfully is finding a hype community before they mint their NFTs.

This community has an active discord and a growing Twitter account (around 10K followers).

It mints tomorrow. Minting is basically pressing a button to obtain an NFT that is part of a set at the base price.

30% scarcity

But there's scarcity involved. I think this one only has 3000 cards. This creates a classic supply/demand problem for people that missed out on the mint.

9% novelty

Kaiju cards are planned to be used in a trading card game and other little mini games. Some NFTs are also used as traditional cryptos, like you can stake them and generate a yield.

1% art

This particular community has pro artists so it's a little more valuable. But not much. Many communities recycle clip art. The quality of the art is irrelevant.

------

So, how do you flip them? Simple process:

1. Find project w/ hype community.
2. Mint NFT.
3. Wait until sold out.
4. Wait a couple weeks.
5. Flip for 500%+ profit.

What I did was I took profits on my initial investment, and put it in $OHM. Now I can keep using the "extra money" to flip between projects.

If the trend stops and I'm left holding the bag, I already took over 100% profits on my initial investment.

0 risk involved.

That's how you flip NTFs like a pro.
nhill
Member
Wed Sep 01 18:57:37
Now, if you have DEEP pockets and don't mind taking on indeterminate risk (despite me having deep pockets and playing with crypto, I'm actually fairly conservative with my moves), there's another route.

You can try to bid on auctions of rare NFTs. Example here:

http://nouns.wtf/

Noun 26 just sold for 235.5 Ethereum, or 898,938.83 US fiat tokens at time of writing.

These might ultimately be the best way to make a profit in the million dollar range. To do that with minting you'd have to mint a ton of NFTs.

There's also auctions on opensea.io that go for less. But in general I find minting to be preferable because it has a straightforward risk profile.
nhill
Member
Wed Sep 01 21:50:47
Buying 3755
Nimatzo
iChihuaha
Thu Sep 02 05:15:58
I sold the ETH at 3793, wasn't going anywhere.

Bought ETH again this morning 3737.

Practical question, I need to login with metamask on this adress http://kaijucards.io/ at that time and things will become apparent to me?

So, how do you personally find these NFT projects to begin with?

I read a concern about this market being illiquid, though presumably if you find the right hype/community it won't be an issue?


Nimatzo
iChihuaha
Thu Sep 02 05:20:16
Sorry in this case since it is on solana, it isn't metmask, but a sol wallet.
Nimatzo
iChihuaha
Thu Sep 02 09:39:55
Sold ETH 3812.
Nimatzo
iChihuaha
Thu Sep 02 09:55:12
I figured out my questions reading about it btw.
nhill
Member
Thu Sep 02 10:22:24
Nice sell! I was too busy trying to get my Solana wallet ready for the kaiju card drop that happened 18 minutes ago.

They sold out instantly, like 10 seconds. I *think* I got one, not sure. They took my $500 anyways. But they have to sort the transactions and see who got them and will issue refunds. Should know in a few hours.

Was a crazy morning. There was the Star Atlas IDO launch at the same time as the kaiju card drop. Solana RPC servers got overloaded. I need to figure out how to run my own RPC server like I do for Polygon in case this keeps happening.

So much hype in the market. I would have expected the price of $SOL to drop but everyone's trying to get NFTs and the Star Atlas crypto, so number go up.
Nimatzo
iChihuaha
Thu Sep 02 10:29:44
I lack the resources to find these things, which you explained it is the hype in the community and size, together with the scarcity available for mint. How do you find them? Just looking for news and information outlets you can trust, that in itself is a jungle.
Cloud Strife
Member
Thu Sep 02 10:51:51
You have to jack in and jack off.
nhill
Member
Thu Sep 02 10:59:20
All the ones I've gotten onto other than the kaijucards I just randomly saw on my Twitter feed.

I found kaijucards here:
http://howrare.is/drops

Unsure if there's similar aggregators for other networks but this one looks pretty good for Solana so far.
nhill
Member
Thu Sep 02 11:01:03
Nim

http://strangebrew.xyz/

This is the next drop I'm going to try and get into. The NFT artist Uman is hot right now, so I expect this one to be a gem if I can mint in time. It's quite cheap too, only around $100.

Still not sure if I got a Kaiju card. They limit to 1 per wallet so they are having to sort it all manually to see who is eligible. Should take a few hours.
Nimatzo
iChihuaha
Thu Sep 02 13:33:17
Cool, I will check this out :)
nhill
Member
Thu Sep 02 14:12:07
Looks like I got a kaiju card! They just posted the first and last valid transactions and mine was 2 seconds before the last valid transaction. They sold out in 19 seconds.

Now I'm curious how much I'll be able to flip this for, or if I should hold it long term. The dev team is pretty good and plan on making a neopet like game, along with a bunch of minigames that could cause it to appreciate in value...
Forwyn
Member
Thu Sep 02 15:36:11
Where are you shorting? Kraken requires a Dukhat-level portfolio to margin trade.
Nimatzo
iChihuaha
Thu Sep 02 16:38:00
Grats Nhill, keep us updated.
nhill
Member
Thu Sep 02 16:39:26
Forwyn

I short on AAVE, a decentralized lending platform. So I can borrow $ETH and sell it for $DAI, then deposit the $DAI and earn interest on it. Which results in me getting paid for having a short position. And they support fee-free swaps so you can close the short for free (provided you have a small amount of $ETH deposited).

But you can also connect to a VPN (e.g. European IP address) and short via Binance without doing KYC.
nhill
Member
Thu Sep 02 16:43:11
Nim

Thanks! Looks like they are going for a minimum price of around 10SOL right now, so theoretically I should be able to double my money. Still waiting for the transaction to go through though. I'm not 100% I'm going to get it as the transactions they posted was for the Alpha+ cards, and I bought an Alpha card. I can't find any information indicating that the times also apply to Alpha, it may have sold out faster.

While I'm waiting, I saw someone was selling a card for 8.5SOL so I scooped that up. I relisted it for 10.5SOL to see if I can get a little scalp for 20% or so.
nhill
Member
Thu Sep 02 16:57:31
Selling 3830, +1.9%

Back in the game!
nhill
Member
Thu Sep 02 17:23:42
Also, LoL @ Dukhat-level portfolio.
Nimatzo
iChihuaha
Fri Sep 03 02:18:47
I went nuts last night before bed and bought sol at 132 and FTM at .84. This time I am holding for longer, if you are foolish enough to believe me :)

Sol is just reaching for the star and now RAY (bought 12.4) is back in the green. Awesome friday!
Nimatzo
iChihuaha
Fri Sep 03 02:27:34
Nhill
Back to the maincourse DeFi. I wanna start with a smaller amount to get a feel for it, would you still recommend AAEV or have you found anything better?
Nimatzo
iChihuaha
Fri Sep 03 04:11:04
Here we go, FTM is gonna set a new all time high, I can feel it my bones :)
nhill
Member
Fri Sep 03 08:08:51
Shorting ETH @ $3956
nhill
Member
Fri Sep 03 08:34:08
Nim

I use Polygon AAVE for trading still. You get fee free swaps and you earn interest at the same time. Basically you get paid for trading. ;)

But it can be laggy at critical times of high volatility.

As for yield farming, I like to farm the SOL-RAY LP on solfarm.finance. You earn money from trading fees plus platform rewards for providing liquidity through Raydium. The rewards come as $RAY but solfarm autocompounds it for you (sells half the $RAY for $SOL and puts it in the LP).

Other places to find farms are on beefy,finance -- it has auto compounding farms for multiple blockchains. I have yields on Heco, Avalance, Fantom, BSC, and Ethereum.

As for novelty, I like the $OHM project. I have a fair amount of money staked there and it's a completely decentralized reserve currency project. So I'm able to be involved with voting and such, and help guide policy decisions through the DAO. It puts the decentralized in DeFi.

I'm involved in so many things right now it's hard to keep track. Been messing around with eXeed ($XED) where you can play CS:GO against people for money. Polychain Monsters collecting NFT pokemon. Bunch of other NFT projects. The Alien Worlds. Evermore. SpookySwap on Fantom (staking $xBOO for $wFTM rewards as part of Fantom's promotion). PancakeSwap on BSC (flipping BSC coins).

I stayed up late last night helping with a hack/exploit on my favorite project, tomb.finance. It's a seniorage coin, which are notorious for being hacked/exploited and this one was no different. Tough problem to solve. But I think they'll recover. The idea is that $TOMB is pegged to $FTM and part of how it works is they tax selling $TOMB if it in close to the price of $FTM.

Someone wrote a custom uniswap router that bypassed the gatekeeper and exploited the project and people panic sold. But really, the gatekeeper was only there as training wheels, their novel use cases for $TOMB was intended to keep the buy pressure on $TOMB. Well, training wheels are off now and it's up to the devs.

I used a lot of liquidity to help push it back closer to the peg, and brainstormed w/ the devs on solutions.

Super tired. Stayed up all night on this.

Good luck today!
nhill
Member
Fri Sep 03 20:19:28
FTM!
nhill
Member
Fri Sep 03 20:25:22
Closing short 3929.
nhill
Member
Fri Sep 03 20:26:24
I'll still trade a bit but tbh I'm barely paying attention to it.

Alt and NFT season so too hot, I'm spending all my crypto time there.
nhill
Member
Sat Sep 04 00:01:04
Buying 3906
Nimatzo
iChihuaha
Sat Sep 04 03:48:35
FTM indeed :) holding on to those babies until we hit 10 USD!

Nhill
Seems to be something going on with RAY. See I prepared to move mine into wallet and over to solfarm or RAYDIUM for yeild farming, but binance has suspended deposit/transfer of RAY. Read something on twitter that RAY price was much higher on Binance than anywhere else and speculations that it could be price manipulation.

Everytime I try to defi something comes up. lol remember I got stuck trading because saw I made a little money converting from btc to dai and back :)


nhill
Member
Sat Sep 04 23:01:03
Buying more 3846
nhill
Member
Sun Sep 05 04:06:06
> Everytime I try to defi something comes up. lol remember I got stuck trading because saw I made a little money converting from btc to dai and back :)

That's the thing with CEX! :)

For the most part I just buy $ETH and bridge over to various chains. But that does cost gas. :/
Nimatzo
iChihuaha
Sun Sep 05 16:35:22
Yea I was thinking of just sending SOL to raydium.io and swap some of it there to RAY and start the farming. But I have no idea raydium.io has autocompounding. I would guess no, since I have no found any information that it has that function. solfarm.io/ does have auto compound, but no swap. Anyway I will sort it somehow :)

Since I am starting with a smaller amount of money fees and such are a concern. I thought if I could stay off the ETH chain all together and just go SOL exclusive for Defi. Get in early on that third wave, low fee, fast speeds. Right? This feels scary :)
nhill
Member
Sun Sep 05 17:32:47
Selling 3940
nhill
Member
Sun Sep 05 18:40:57
Nim

That sounds good. Raydium provides the farm and solfarm autocompounds it. So you want to swap and provide liquidity on Raydium, then go to Solfarm to deposit your LP tokens.

It's scary, but will become fun!
nhill
Member
Sun Sep 05 18:41:27
+1.7% on that last trade.
Nimatzo
iChihuaha
Sun Sep 05 19:50:49
lol :,)

http://mob...us/1347964322459262977?lang=en
nhill
Member
Sun Sep 05 21:26:12
Buying 3922
nhill
Member
Sun Sep 05 21:27:05
Classic meme. You can say the same about Fantom.
Nimatzo
iChihuaha
Mon Sep 06 04:46:05
Hah indeed that retweet that brought me there is actually about FTM :)

Been thinking about impermanent loss. This RAY-SOL LP, shouldn’t it be exposed to less risk for IL? I am thinking that RAY and SOL are, while not pegged, connected to each other. I don’t know something tells me the risk is smaller than say a ETH-USDT pair where one of the coins is pegged to a far less volotile asset.
nhill
Member
Mon Sep 06 10:24:25
Yes, that's why I chose RAY-SOL.

I never do stablecoin pairs because of IL. But I do understand why others do, as they allow you to hedge risk and still accumulate.
Nimatzo
iChihuaha
Mon Sep 06 11:56:17
Right one is hedged, the other leveraged. I see.

That would mean SC paired LPs excel in sideways markets. The leveraged of course in bull markets and the SC-SC LPs that you were doing on AAEV in bear market. Both profits and the risk for IL.

In theory right? And not taking into account inflation of the USD.
Nimatzo
iChihuaha
Mon Sep 06 13:26:50
Alrighty, I am a sol farmer now :)
Nimatzo
iChihuaha
Mon Sep 06 16:25:06
So, about FTM that is currently going parabolic =) do you stake it or LP farm it? I saw there is one on beefy with pretty good APY, but just like LP pairs it is tokenized in their mooScreamFTM. It is another layer of risk and complication I think, a hurdle.

BTW holy shit am I impressed by the speeds on the SOL chain - Instant transfers - ETH better step up the game.
nhill
Member
Mon Sep 06 16:35:31
> That would mean SC paired LPs excel in sideways markets. The leveraged of course in bull markets and the SC-SC LPs that you were doing on AAEV in bear market. Both profits and the risk for IL.

Exactly! You're getting the hang of the economics :)

> Mon Sep 06 16:25:06
So, about FTM that is currently going parabolic =) do you stake it or LP farm it? I saw there is one on beefy with pretty good APY, but just like LP pairs it is tokenized in their mooScreamFTM. It is another layer of risk and complication I think, a hurdle.

I LP farm it, and stake some of the small caps. My current FTM stakes/farms:

Spirit/GinSpirit on grim.finance
FTM/TAROT and FTM/SPIRIT on Tarot
xBoo staked for $FTM rewards (part of the fantom foundation promition) on SpookySwap

Tarot is the most interesting. It allows you to leverage your LPs. It's dangerous though, I've already been liquidated once (wasn't a bad liquidation, I actually came out ahead on it because it was a forward liquidation, the price went up so fast that I got liquidated).

I wouldn't mess around with Tarot until you get the hang of normal farming, but if you want to go full degen, that's the big opportunity right now.
Nimatzo
iChihuaha
Tue Sep 07 02:33:16
Took me 4 months to finally get on DeFi and I am already looking forward to move off Binance completely. Still nothing on SOL that beats AAEV's fee free swaps though. I got spoiled only doing limit orders on Binance for free.

"full degen"

lol I will wait and just do some normal staking until I feel like all boundaries are gone in another 4 months :P

The past week has been extremely profitable. Ray, SOL, FTM. Holy shit, I never in my life made this much money and so fucking quickly.

It doesn't make sense to giver % because I started off trading with some limited money and now I am doing all kinds of stuff with a lot more money, but at this rate I will have to retire in a few years :) I am not kidding.
nhill
Member
Tue Sep 07 02:41:23
Welcome to my world. Retirement is fun! :D
Nimatzo
iChihuaha
Tue Sep 07 03:31:34
In no small part thanks to you man :) I admit it was a challenge, the new jargon, some of the worst user experience one can imagine, very little digestible information. Most of it is just surface level stuff, copy paste of something you read. So you have to start from the ground up the best you can, lacking the ability to read code. The best places for this are the community discords and the people on the platforms. They are very helpful.

Here is an example, I had no idea how you broke an LP pair, until yesterday a few hours after I had already created mine and put them on solfarm :) there were no fucking instructions that I could find! I learned by reading a comment on solfarm discord. Ahh I have to go back to raydium where I created them, oh look down at the page it says something: "If you staked your LP tokens in a farm, unstake them to see them here". That didn't mean anything to me until I read that comment, because "stake" had shaped into something specific for me, "proof of stake". I had not staked anything, I had put my LP's in a liquidity pool. lol :)
nhill
Member
Tue Sep 07 03:39:38
Yup, as I said months ago, aside from regulations, the only thing stopping this from taking over the entire financial world is the user experience.

It's rough.

But remember, these yields aren't free money forever. They decrease over time, and it isn't there to be your friend. The reason platforms give out a yield is to encourage people to move their liquidity to it. As no-one with serious money is going to trade on a DEX pair with under a million liquidity.

Just tonight I moved the $TAROT cryptocurrency over 3% with a single transaction and that was only with 5 figures.

The solution to that problem? Reward people for providing liquidity. :) But the emissions decrease over time both naturally (built into the protocols) and because the liquidity is deepened (yields shared between more parties).

It's important to understand the fundamentals here. The only reason you are getting a good projected APY now is because the DEX needs your liquidity. That may not be the case in the future.
nhill
Member
Tue Sep 07 03:56:51
Wow, that was a big drop on ETH. Derisking my DeFi bags into majority stablecoins for now.
nhill
Member
Tue Sep 07 04:11:58
That's not to say I expect a huge crash, rather my bags are so damn large right now that I'm perfectly fine leaving them denominated in fiat tokens for a night. :)

Also, looks pretty bearish right now on all fronts. Open interest really accelerated on the way down (other than some liquidations taking it back down).

My guess is some whales are getting hungry for over-leveraged fish and eating their liquidity for breakfast.
Nimatzo
iChihuaha
Tue Sep 07 04:29:57
"these yields aren't free money forever."

I understand why you farmers are constantly looking for new crops to grow :) It is basic supply and demand issue. As the liquidity supply grows or demand falls, so does the APY. I think :)

"Derisking my DeFi bags into majority stablecoins for now."

Indiscriminate or primarily those expose to ETH?
nhill
Member
Tue Sep 07 04:34:14
Indiscriminate. If BTC and ETH have a sustained drop, everything else will follow, IMO. Would like that to not be the case, though.

Anyways, it's out of an abundance of caution. I've made stupid sums of money these past few weeks, so perfectly happy sitting in majority (~65%) fiat for a night.
Nimatzo
iChihuaha
Tue Sep 07 05:17:14
I like caution, we must preserve capital. This turn for the worse is the last part of the cycle I need to experience. We have done a race to the moon, we have gone sideways, we even did some bear market at the start in june, but I have only hodled and often not even been aware that the market has turned downwards.

I sold 50% of my FTM at 1.63 now. I kinda went degen here. 80% of all crypto was in FTM bought in waves from 0,92 to 1,1. Worked out quite well... this time :) You read me write I like caution right? ahahaha
Cloud Strife
Member
Tue Sep 07 10:10:49
Tether admits it is bankrupt, goes dark. All exchanges of note have followed suit.
nhill
Member
Tue Sep 07 10:37:45
Glad I went to cash last night. See that, CS? Another example of my genius live and in person. Go fetch a Sharpie and I’ll sign your wife’s tits.
Nimatzo
iChihuaha
Tue Sep 07 16:22:19
Nhill
"tonight I moved the $TAROT cryptocurrency over 3%"

Straight ballin' son!
nhill
Member
Tue Sep 07 16:38:04
Haters gonna hate!

Here's a video for Cloud Strife:

http://imgur.com/a/6QPXeJF

Be sure to turn on the sound.
nhill
Member
Wed Sep 08 03:40:07
Buying 3320
Nimatzo
iChihuaha
Wed Sep 08 04:21:49
God dam I have missed some opportunities, but FTM and SOL-RAY have held up pretty good from what I can see, well above my buy price, apart from RAY which has been lagging all along. But I heard you explain this was the investment cycle.

One massive liquidation hunt has upset the market. I have been listening and reading and I don't hear that there is anything structurally wrong, so this should calm down. What do you think Nhill?
Nimatzo
iChihuaha
Wed Sep 08 04:23:03
http://imgur.com/a/6QPXeJF

This sent me down a rabbit hole, what a "character" that guy is. A real gem of human degeneration.
Nimatzo
iChihuaha
Wed Sep 08 14:00:36
FTM and SOL-RAY, awesome recovery far ahead of the pack.

May the great Satoshi smite the wallet of all doubters and depreciate their fiat denominated assets. For only then will the heathen see the folly of his doubt. Transaction confirmed.
nhill
Member
Wed Sep 08 17:52:36
"This sent me down a rabbit hole, what a "character" that guy is. A real gem of human degeneration."

Lol, who is this guy? I just found the video and thought it was hilariously cringe.

"One massive liquidation hunt has upset the market. I have been listening and reading and I don't hear that there is anything structurally wrong, so this should calm down. What do you think Nhill?"

I think it was a natural deleveraging process and we'll go up from here. People on leverage risk liquidation hunts and every so often the whales go whaling. Part of crypto. Was a nice healthly pullback to $2900 for Ethereum. I was thinking around $2600-$2900 would be ideal and we got it. Wish we had more time there, but the order book was deep enough to push us straight back up.

"FTM and SOL-RAY, awesome recovery far ahead of the pack.

May the great Satoshi smite the wallet of all doubters and depreciate their fiat denominated assets. For only then will the heathen see the folly of his doubt. Transaction confirmed."

Heyo! The benefits of seeing good tech. Last I checked, $ADA was still down 20% from the top. Glad I showed you the light!
Nimatzo
iChihuaha
Wed Sep 08 18:33:42
"Lol, who is this guy?"

Someone that has managed to cling on to his 15 minutes of fame for far far too long. What you see there in that video, that was him being his least cringe.

"The benefits of seeing good tech. Last I checked, $ADA was still down 20% from the top. Glad I showed you the light!"

I have to admit, before finally using DeFi, I was missing a good chunk of the experience. ADA not having DeFi was a literal non-starter. ADA may still go places, but SOL is already going and the overvaluation of ADA becomes more clear.


nhill
Member
Wed Sep 08 19:27:55
Yeah, there was really no reason for $ADA to be worth 5x more than $SOL other than hype.

Now you see the gap is closed exactly as I predicted, and it's only worth 1.41X more.

Next this will happen to $FTM.

There's no good reason for $SOL to be worth 50X more than $FTM.

Prepare to see that gap closed.

$FTM -> $10 minimum, IMO.
nhill
Member
Wed Sep 08 19:34:12
I'm dropping all this free alpha in the forum and I know a bunch of lurkers are profiting from it.

Why is Nimatzo the only one to show appreciation?

Bunch of ingrates.
nhill
Member
Wed Sep 08 20:38:50
http://solana.com/ecosystem/akash

Here's a good project if you're looking to diversify your $SOL ecosystem bags a bit.

Currently $3.62, my price target is $70.
nhill
Member
Thu Sep 09 01:43:43
Second biggest opportunity right now:

$TOMB/FTM vault on reaper.finance

$TOMB is a crypto that is intended to be pegged to $FTM but it suffered from an exploit that caused it to fall off peg. Then everyone dumped it because they lost confidence in the project.

Well, Harry Yeh, a prominent crypto venture capitalist announced he's going to take over the project and hire a new dev team.

Not financial advice, but I have some information (in the code & protocol) that makes it basically a guaranteed 4X from here.

I wouldn't ape into it, as it has low liquidity (buying 6 figures will manipulate the price too much), but I dropped 5 figures into it. NFA!
Nimatzo
iChihuaha
Thu Sep 09 02:56:32
"Bunch of ingrates."

I bet you Dukhat is one of them. He was like fuck you why should I give you advice! And then in the next breath he was sitting there in the thread frantically smashing the refresh button.

Thanks for the

You probably already know of these two sitse, but for newbies trying to navigate, these sites aggregate project with some basic info, TVL etc, very useful.

All SOL project
https://solanaproject.com/#/

DeFi Projects across protocols
https://defillama.com/home

"Harry Yeh"

I saw this guy on a youtube show (crypto banter) yesterday. FTM 30 USD he believes.

I will look into these! Thanks for the info :)
nhill
Member
Thu Sep 09 09:27:20
Haha, true. We know Dukhat is frantically Googling everything we're saying here trying to figure it out without asking questions. XD

Thanks for those! I like DeFi Llama, have used that a lot to track project growth and trends. Hadn't seen the SolanaProject site, looks useful!

Yeah I heard from multiple people that they saw Harry Yeh on Crypto Banter. I don't pay attention to any podcasts or video logs, so I hadn't noticed. But I follow him on Twitter and am familiar with him that way.

Super exciting to be able to get in on the ground floor before he makes further announcements that will surely pump the price. His team released tbonds, which could only mean that he's confident in $TOMB returning to peg (i.e. at least being worth as much, dollar-wise, as $FTM). I highly doubt he'd bait people's liquidity like that without having an exit mechanism. The way TBonds work is that they are only worth anything when Tomb is above peg.

Although perhaps they will write a new smart contract with another use case for TBond.

Either way, I'm extremely bullish on it. I bought some shortly after he said he's taking over the project and it's up a good amount, but very volatile as the price increase has allowed people hurt by the exploit to finally exit their positions.

But, anywho, once him and his team start announcing their plans I have no doubt the price will pump. He's got deep pockets and deep connections in the community.
nhill
Member
Thu Sep 09 09:32:17
FTM to 30 US fiat tokens is reasonable. You can probably tell by now that I'm pretty conservative, so $10 was my *conservative* estimate.

FTM to 30 would only put its market cap at $ADA's current level. Considering everything goes up together in crypto (so it only has to meet where $ADA is _today_), that's absolutely possible.
Nimatzo
iChihuaha
Thu Sep 09 10:22:41
"Hadn't seen the SolanaProject site, looks useful!"

Finally! I had something to give back. It's not much, but it's something :)

"You can probably tell by now that I'm pretty conservative, so $10 was my *conservative* estimate."

It was actually clear to me early and one of the initial reasons that kept me interested in what you had to say. Hype artists are such a turn on. But really, and you may laugh, the salt is what sealed the deal ;) to figure out the simple stuff, requires an ability to not be distracted by novelty and complexity. This crypto stuff is both complex and novel, and thus the circle was complete!

Definitely looking into TOMB when I get home.
nhill
Member
Thu Sep 09 12:19:52
Shorting BTC @ 47236
Nimatzo
iChihuaha
Thu Sep 09 12:22:57
"Hype artists are such a turn off*" is what I meant.

I read their stuff, some questions marks about tomb, but what are you doing, LP-pairs, holding tbonds?

I don't really understand the benefit (for me) of holding Tbonds over an FTM-TOMB-pair + staking tshares. Is it even less risky with the Tbonds given both strategies bet on Tomb to return to the FTM peg? IL isn't a concern with neither of them, but the LP pair has higher APY. One ambiguous thing here is the redemption bonus of Tbonds, unclear how much that yields, that could change the equation.

The most profitable return on Tbonds is to redeem when we are way above the peg, that seems to contradict the entire idea of buying the tbonds to help maintain the peg in the first place!?

TL:DR What is the benefit of Tbonds over the FTM-Tomb LP pair?
nhill
Member
Thu Sep 09 12:27:39
I'm seeing a lot of warning signs right now in the alt market. I took a few thousand dollars profit on my $TOMB stake for now while I wait for the signals to clear.

Back into primarily fiat pegged coins. Things feel off again.

Don't read too much into it, I might be Chicken Little here. But I've made so much money I simply do not care if I miss out on a huge rally.

Basically everything I'm reading is suggesting we are primed for a lot of volatility, and there's no signal as to the direction.

The BTC.D (BTC market cap dominance) seems to be making a double bottom formation which sets off similar alarm bells to May. But it may break through the bottom this time. If it does, then Alts will start to rally hard.

So, it's up to you, obviously, but I'm taking a wait and see approach for now!

Harry Yeh said it'll take a couple weeks before they are able to migrate full control of the project to his team and that they'd slowly start to reveal their thoughts. I still see a lot of potential in $TOMB, and will be back as soon as my risk appetite is high enough for it. :)

One of the blessings/curses of making so much lately is I'm more prone to protecting it.
nhill
Member
Thu Sep 09 12:30:21
"I read their stuff, some questions marks about tomb, but what are you doing, LP-pairs, holding tbonds?"

I was sticking to the $TOMB-$FTM LP pair on an autocompounding vault at reaper.finance.

"TL:DR What is the benefit of Tbonds over the FTM-Tomb LP pair?"

Tbonds are a very risky speculation on the future price of $TOMB. I would not touch them right now :). But if $TOMB goes above peg by a lot, the TBOND holders will have amazing gains.

One of the things I don't like about TBONDs is the name. Bonds are generally considered less risky in finance, but in this project it's the exact opposite.

Consider the fact that there's about 1.4 million TBonds issued right now that have 0 liquidity.
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