Consolidated Crypto Hodlers/Staking Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., May 11, 2021.

  1. r3s

    r3s Member

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    Easy staking is a big plus for me, 5% APY is enough for me as a long term investment, the price rises are a nice addition and if it keeps going up slowly over time the exponential double potential is what i'm banking on.
     
  2. douver

    douver Member

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    You know, I looked into this more. It is an ETH token wrapper, no individual token code as such is converted. Similarly to how you can transfer WBTC on Ethereum, you will be able to transfer Ethereum tokens on the Cardano network, but if you want to use the tokens smart contract you have to use Ethereum. Worst part is, it is not trustless, someone has to take custody of the attached Ethereum tokens keys for you. For this reason it won't be used for large sums of money yet.

    So the ETH token converter is a perfect example of marketing hype, hype will fall over when reality sets in that what is delivered is much less than advertised.
     
    whatdoesthisdo likes this.
  3. OP
    OP
    Optimus.

    Optimus. Member

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    Not quite (to my understanding at least). This is cross platform interoperability rather than holding keys for other chain's assets locked in. Cardano has native multi-asset support so you don't need to wrap anything.

    Instead as an asset/token/coin moves from one platform to the other, it's recreated on the other chain and the original is burnt. That way the new asset maintains the value of the burnt token, just on the new network. With lower fees...

    I assume it's a one-way conversion in to Cardano at the moment and would need the chain on the other side (eg Ethereum) to handle incoming Cardano tokens/mint nicely.
     
    Last edited: Aug 24, 2021
  4. r3s

    r3s Member

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    Whatever it is it has passed $4aud
     
  5. r3s

    r3s Member

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  6. whatdoesthisdo

    whatdoesthisdo Member

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    ETH nearing it's ATH
    ADA hitting a new ATH

    What a time to be alive.
    upload_2021-9-2_15-44-13.png
     
  7. Sciflyer

    Sciflyer Member

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    Ive been using Exodus for years, i have a love-hate thing with it
    Like it looks nice, functions well and does what it says on the tin, but exchanging directly in-app is a rip-off and whenever there a run on a coin it shits the bed

    But do you think theres any other multi-coin wallet with iOS + Android app support that isnt dodgy as hell? :(

    (to answer your question - its not terrible for staking ADA but theres better staking rates in other wallets like Yoroi and Daedalus)
     
  8. whatdoesthisdo

    whatdoesthisdo Member

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    Its the same with all of them. You can also swap coins in ledger but the rates are shit house. It's cheaper to send to an exchange > swap coin > send back to wallet than convert in the app.
     
  9. havabeer

    havabeer Member

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    images.jpeg-66.jpg
     
  10. dr_deathy

    dr_deathy Member

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    Go litecoin go!
     
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  11. OP
    OP
    Optimus.

    Optimus. Member

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    Nice and calm, all. Nothing to see here. You know what to do!
     
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  12. 151528

    151528 Member

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