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CaelNCSU
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https://www.coindesk.com/dogecoin-rises-more-than-36-after-snoop-dogg-becomes-snoop-doge

Dogecoin Rises More Than 36% After Snoop Dogg Becomes Snoop DOGE
The Twitter-based DOGE show culminated in a Lion King-inspired meme photo of Musk holding up Simmons who is shown holding up Snoop Dogg, who in turn is holding up a Shiba Inu.

2/7/2021 3:27:11 PM

EuroTitToss
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https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

2/8/2021 9:24:45 AM

CaelNCSU
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Best friend from high school is a multimillionaire and his wife doesn't know. Sent him a few BTC in 2012. BTC is ludicrous.

2/10/2021 12:06:09 AM

EuroTitToss
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And how much did you hodl

2/10/2021 12:01:55 PM

CaelNCSU
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Only enough to buy a Model S that I already sold and have two nice prop airplanes. Wine cellar only in the hundreds of bottle range and I still have to work. If I was more frugal and stayed in NC may not have to work.

No jets or butlers, but cant complain.

What about you?

[Edited on February 10, 2021 at 3:22 PM. Reason : A]

2/10/2021 3:20:52 PM

EuroTitToss
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Nothing worth mentioning. Still kicking myself about selling the 5 I bought at $17.

2/10/2021 7:02:52 PM

CaelNCSU
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I spent about 50 btc on some pretty dumb shit. At my peak I had 200. I still gag looking through my coinbase history.

2/10/2021 8:43:03 PM

BubbleBobble
SO COME ALL U GIRLS!
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I keep getting Dogecoin ads on my Twitter, I don't get it

I have no interest in cryptocurrency, nor have I even mentioned it anywhere :3

2/10/2021 9:39:20 PM

CaelNCSU
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After today's massive losses:

If you'd have invested $30 in bitcoin when this thread started you'd only have $480,000 left over.

2/25/2021 3:50:18 PM

CaelNCSU
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It's fascinating reading over this thread. Especially the first few pages, "this will never work", "no incentive for institutions to get into it".

My top reasons for buying into it were:

1) Silk Road worked and obviously people are going to buy drugs
2) In Fooled By Randomness they discuss "barbell investing". Which is basically invest 80% in solid stuff (low risk), 15% in riskier, 5% or less in moonshoots. Moonshots mostly lose but if they win they win HUGE. So like throw $1000 into it. If BTC goes to $30 you make a fortune.
3) It was technically pretty brilliant: Merkle trees, cryptographic signatures, proof of work combined to create a currency. Three pretty neat technical inventions in their own right coming together in a novel way.
4) The inflation 2008 bailout was the reason given for it being created. Having a store of wealth that can't be printed and inflated seemed like a killer use case.

People fought like hell about it. The math was so obvious in the favor of buying a tiny amount. The logic was something like, "YOU WILL LOSE EVERYTHING". Nah, I'm just buying $100. I spend more than that on alcohol a night. Feels in retrospect like a form of gaslighting.

When BTC hit $20k and people were asking me how to convert their 401k I told them to slow down. Now I just look at people who've known about it over the last 5-10 years and they seem to be the same people who just never help themselves in other ways. No investments, no career growth. Life could have been a lot easier.

[Edited on February 25, 2021 at 4:15 PM. Reason : a]

2/25/2021 4:12:08 PM

A Tanzarian
drip drip boom
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Powerball is an outstanding investment because people win the lottery all the time.

2/25/2021 8:35:54 PM

CaelNCSU
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https://www.investopedia.com/articles/investing/013114/barbell-investment-strategy.asp

Yeah one or two people that hit powerball a year are comparable to the millions that hit life changing money on crypto.

Midwit thinking. Don't worry you are just too smart to get rich.

https://voxday.blogspot.com/2012/02/tragedy-of-mid-witted.html?m=1


[Edited on February 25, 2021 at 11:16 PM. Reason : A]

[Edited on February 25, 2021 at 11:34 PM. Reason : A]

2/25/2021 11:15:06 PM

A Tanzarian
drip drip boom
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Try finding another alt-right white nationalist blogger who can explain to you the difference between luck and skill.

2/26/2021 4:10:15 PM

CaelNCSU
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Cryptography, merkle trees, expected value are all luck.
Definitely wouldn't increase your earning potential or enable you to see opportunities.

I got asked about merkle trees in an interview once, and damn I didn't see one driving one that day. Lucky me!

2/26/2021 7:06:53 PM

A Tanzarian
drip drip boom
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You're definitely skilled with strawmen, Satoshi.

2/26/2021 7:54:42 PM

JT3bucky
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over $100 a night on alcohol aye?



[Edited on March 1, 2021 at 7:22 AM. Reason : So you're saying, Go all in on DOGE?]

3/1/2021 7:21:20 AM

CaelNCSU
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Quote :
"2) In Fooled By Randomness they discuss "barbell investing". Which is basically invest 80% in solid stuff (low risk), 15% in riskier, 5% or less in moonshoots. Moonshots mostly lose but if they win they win HUGE. So like throw $1000 into it. If BTC goes to $30 you make a fortune."


My quote about alcohol was in regards to a former coworker. He spent more than that in LA. Never bought BTC, then YOLOd $100k into XLM at the top. If he is still holding he's probably only down $60k.

Ergodicity: 20 people making $5k bets is not the same as a one person YOLO $100k.

DOGE is highly inflationary, like the USD. Hard to hit a win and Snoop has already pumped it. STX has some pump and dump behind it. And having it nets some BTC. https://www.stacks.co/

[Edited on March 1, 2021 at 9:26 AM. Reason : A]

3/1/2021 9:23:54 AM

EuroTitToss
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Quote :
"Moonshots mostly lose but if they win they win HUGE. So like throw $1000 into it.....Nah, I'm just buying $100.."


Yea this is basically sound. And I did buy $100 worth which would now be a quarter million... but sold.

One lesson I learned too late: when the sky feels like it's falling, you hold unless the fundamentals are just not there. Every time BTC crashes, it has very little to do with the underlying tech which has always been strong.

The part I don't know is how you identify moonshots. There's so much crap out there right now. Bitcoin feels like a once in a generation thing.

The funny thing is the tech was actually pretty old. Digital signatures and merkle trees are from the 70s. Proof of work is almost 30 years old now. It was brilliantly put together, but makes you wonder if it couldn't have happened a decade earlier.

[Edited on March 2, 2021 at 2:42 PM. Reason : .]

3/2/2021 2:41:45 PM

EuroTitToss
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Also someone explain NFTs to me. It just seems like you are buying a unique ID in someone's database.

I can't find any explanation on how it actually solves any art authenticity or verification problems.

3/2/2021 2:45:41 PM

CaelNCSU
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^ I spent some time thinking about taking a gas chromatography signature from wine and encoding it as a crypto signature as a way to do verification. But why not just the gas chromatograph? You could use a salt, HAH, to change the composition that creates the signature. How do you verify it without doing it in reverse? I think it's still gameable. There are probably other similar ways for to something physical marrying chemistry and crypto in a way that isn't as intrusive.

Think you're basically right on NFTs. People do pay hundreds of dollars for virtual in game items. Apparently some games have NFT items that can be traded onchain and are independent of game. Could be cool for something like, use my Grand Theft Auto gun in Call of Duty?

Quote :
"The part I don't know is how you identify moonshots. There's so much crap out there right now. Bitcoin feels like a once in a generation thing."


There is certainly a lot of junk, especially in the crypto space. Identifying smart people with contrarian opinions to the official narrative is a good bet. If you traded volatility in February of last year when lots of bloggers were discussing this virus in Wuhan and the politicians/health officials here were still downplaying it and saying "masks don't work". You probably would have made 900x if you offloaded it the right time and 100x if you didn't.

3/2/2021 3:26:51 PM

CaelNCSU
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https://mobile.twitter.com/Reuters/status/1376508198291714057

Quote :
"Exclusive: Visa moves to allow payment settlements using cryptocurrency http://reut.rs/3fnu1bf"


It's USDC on Ethereum. Been trying out the DeFi Tokens, have a non trivial amount in Yearn, Compound and Stx. Seems like Cuban has turned into a big Defi shill.

Guess BTC never went below $40K again.

3/29/2021 3:58:10 PM

seangt
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So it's March/April 2021. If you wanted to get $100 of a cryptocurrency now which one would you get? thinking inflation hold and educational not necessarily as a lottery ticket.
1. which upcoming new one?
2. or Bitcoin for the history and some stability/recognition?

..side note, I saw an ATM that said you could get(maybe deposit?) Bitcoin at a convivence store last weekend. Wasn't expecting that. As Visa starts to accept it and ATM's can handle it things will change. How I don't know.

[Edited on March 31, 2021 at 9:30 PM. Reason : .]

[Edited on March 31, 2021 at 9:31 PM. Reason : .]

3/31/2021 9:26:10 PM

mellocj
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I would put $80 into bitcoin, 10 into ethereum and 10 into Cardano

4/1/2021 9:19:48 AM

CaelNCSU
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^

Same, but instead of Cardano would change to random shitcoin that seems appealing for "reasons". My shitcoin is STX.

4/1/2021 12:27:49 PM

0EPII1
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^ why not Cardano?

^^, ^ Suppose I had $500 - 1,000 to put into crypto. How should I split it up? And on which website do you recommend I buy them?

[Edited on April 4, 2021 at 10:09 AM. Reason : FUCK, even last year on this day if I had bought BTC I would have made 8x profit now ]

4/4/2021 10:07:33 AM

CaelNCSU
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I don't know anything about Cardano.

I've used Maker and Compound. Despite the risk it would have saved me a fortune last year if I knew and trusted it. Changed my mind on shitcoins.

Edit: of the little I just read on Cardano it's main value prop is that it's proof of stake. Given the ecosystem around Ethereum and it's move to Proof of Stake. Way bigger upside if it works. Stacks earns interest in BTC and works by settling on the BTC blockchain. It seems like the first good DeFi on bitcoin.


[Edited on April 4, 2021 at 11:11 AM. Reason : A]

4/4/2021 11:04:10 AM

CaelNCSU
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https://coinmarketcap.com/currencies/stacks/

4/5/2021 9:29:56 AM

David0603
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Damn, where'd you even hear about stx?

4/5/2021 10:57:39 AM

CaelNCSU
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Friend that thinks anything not bitcoin is bullshit.

A Defi product secured with bitcoin blockchain is obviously appealing. Right now having to convert BTC to an Eth token like WBTC or selling USD and getting hit on taxes blows.

Earning interest in BTC + the possibility of not having to have an Eth based middleman is appealing. If it works it has a huge upside. Seems to work, since I've been earning interest with it for a month.

[Edited on April 5, 2021 at 11:56 AM. Reason : A]

4/5/2021 11:55:15 AM

CaelNCSU
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If you want another recommendation: CRO https://crypto.com/cards

Use my referral link https://crypto.com/app/v4rxfnj6by to sign up for Crypto.com and we both get $25 USD

Free Netflix and Prime, plus 3-8% shitcoin back on purchases.

If it blows up like Binance's card will be through the roof.

[Edited on April 5, 2021 at 12:04 PM. Reason : A]

4/5/2021 12:03:24 PM

mellocj
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^ what USD amount are you staking? Any tips for good overview to understand staking risks ?

4/5/2021 2:27:21 PM

CaelNCSU
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Like any crypto not bitcoin there could be a bug that makes it go to zero. A hack or exploit could empty the service's wallets losing any crypto you have there. CRO could be worth: 0.0, 0.05, 0.2, 0.5, 1, 2, 4, 8, 16 at the end of your staking period. If you assume probabilities of those prices I totally made up: (+ 0.06 0.24 0.5 0.1 0.05 0.02 0.02 0.01) == 1.0.

Expected value: `(reduce + (map * '(0.06 0.24 0.5 0.1 0.05 0.02 0.02 0.01) '( 0.0 0.05 0.2 0.5 1 2 4 8 16)))` == $0.412 which is > $0.2 of its current price. Stake an amount that doesn't have you eating cat food, moving in with parents or getting a divorce if you lose it. Whatever your risk tolerance...

Whether it's actually worth it is probably some factor of spending/month * 6 months * cash back % up next to the value at the end of the staking period. Lets say you spend $1k a month * 6 months = $6000. for a 2% cashback: $6000 * 0.02 = $120 or $180 for 3%. If you spend $10k you would get back $1800 (multiplying by 10 1k -> 10k). So break even is CRO drops at the jade level is $4000 - $1800 = $2200. So CRO could be roughly 0.12 before you lost money on paper.

Basically just a way to make shitcoin bets at a wash...

4/5/2021 6:34:50 PM

David0603
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Temping if I wasn't still churning

4/6/2021 12:10:15 PM

mellocj
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^^ Gotchya, I was also wondering about the risk of staking by itself, separately from rewards from their Visa card.

I've seen mention of DeFi staking and haven't yet done the work to figure out risks and rewards. Crypto.com/earn advertises 14% reward available for staking USDC

4/6/2021 2:13:02 PM

HaLo
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Why is it always so hard to understand cryptocurrency conversations

I have some fuckaround money but can’t understand anyone that talks about staking... I’ve already got a bunch of BTC ETH and LTC

[Edited on April 6, 2021 at 8:57 PM. Reason : .]

4/6/2021 8:55:35 PM

Novicane
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tl;dr im better off just paying off my house?

4/7/2021 5:57:13 AM

CaelNCSU
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^^ it's just a way to earn interest or take out a loan on your crypto.

4/7/2021 8:16:52 AM

CaelNCSU
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^^ Say you have enough crypto to buy a house. You offer it for collateral to a smart contract, in return you get Dai. Sell the Dai which is not taxable since it came from a loan. Buy a house, rent it or pay from other earnings, repay the Dai to the smart contract. At the end of payment you get your crypto back.

4/7/2021 9:28:08 AM

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