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Consolidated Crypto Traders/Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., Dec 15, 2017.

  1. rabih1978

    rabih1978 Member

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    Last edited: Dec 7, 2021
  2. whatdoesthisdo

    whatdoesthisdo Member

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    I know nothing about the coin but you will never get 313000% APY over any decent amount of time. As people join the APY drops massively
     
  3. rabih1978

    rabih1978 Member

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    Someome posted a video on youtube, he bought 52k and after 12 days , up to 68k @ 500K APY
    This was like 4 days ago


    Was thinking of putting in 1k for a month.
    The APY has also gone up today, was 300k APY this morning
     
    Last edited: Dec 7, 2021
  4. whatdoesthisdo

    whatdoesthisdo Member

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    Firstly, you need to re-read what I wrote. especially...

    Lol even the picture in the video confirms exactly what I am saying. It was 500,000apy and in 4 days its now 310,000%

    No, it's up to 68k WORTH of HEC

    HEC had only 16million worth of volume (unconfirmed). He would crash the market if he tried to sell and would only get a fraction of it.

    Go for it. There's new ones coming out every day and people have been farming them since defi summer began.

    Can you make money? YES absolutely but you have to be aware of rug pulls and understand these have a very short life span.
     
  5. rabih1978

    rabih1978 Member

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    Thats why im thinking max 1 month, and then move on.
     
  6. whatdoesthisdo

    whatdoesthisdo Member

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    and just hope its not a rug.
     
  7. rabih1978

    rabih1978 Member

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    I guess so, just gotta take a leap of faith.

    Took a leap for VVS and its doing great so far, nearly over 1M tokens from staking in 2 weeks
     
  8. whatdoesthisdo

    whatdoesthisdo Member

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    1. Do research
    2. Pull out your initial stake asap so if it drops you havent lost anything
    3. Don't risk more than you can afford
    It all depends on what 1k means to you. 1k is a lot of money to some people and a night out on the piss to others. IMO, 1% or less of investment portfolio on these extremely high risk shit coins.
     
    Linyi Zhu likes this.
  9. munch0r

    munch0r Member

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    HectorDAO is literally just another Olympus (OHM) clone. Look at Wonderland (TIME), Snowbank (SB), there's one on polygon and some other chains too.

    Price of HEC is $140, they have $91 in capital behind it (per coin) so you are paying a premium to own and stake it. The high APYs are due to the rebasing behind it. It's just economic game theory in action, but all the clones don't really bring much to the table. Look into the whole debacle behind Snowbank and Snowdog on Avalanche.

    Olympus is the best one to look at because you can see the impact of time upon price and APY for a longer timeframe.
     
    Last edited: Dec 8, 2021
  10. leck

    leck Member

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    https://www.theage.com.au/politics/...umer-and-business-change-20211207-p59fir.html

    Leading from the rear as usual. I do like how they kinda miss the entire point of crypto when they talk about making their own. Imagine some shitty australiacoin tethered to aud or something but which gov can randomly add coins and access peoples wallets. Utterly pointless
     
    Last edited: Dec 8, 2021
  11. havabeer

    havabeer Member

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    doesn't australia already have a coin... i have a few gold and silver ones in my wallet right now.
     
  12. leck

    leck Member

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    it'll be interesting to see if they change how they treat crypto for tax purposes. Precedent here and elsewhere seems to be that it is an asset and is treated accordingly.

    that's old tech according to frydenberg and much easier to hide than if you're using australiacoin™ in your australiawallet™
     
  13. rabih1978

    rabih1978 Member

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    Looks like we are heading towards traditional silver and gold coins (precious metals) for cash in hand trades
     
    leck likes this.
  14. illdrift

    illdrift Member

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    If you had to park funds in a stable coin, I might trust holding/farming the Aus government issued coin over some random company like Tether/Circle

    Using a government blockchain on the other hand, would be particularly pointless
     
  15. connico

    connico Member

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    But that life span is the good thing :p
     
  16. mr camouflage

    mr camouflage Member

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    Two Aussie exchanges collapse


     
    connico likes this.
  17. connico

    connico Member

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    Anyone else get a bump on XTZ this morning?
     
  18. whatdoesthisdo

    whatdoesthisdo Member

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    SOL down again. Lol these Eth killers are really finding out the hard way.
     
    connico likes this.
  19. illdrift

    illdrift Member

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    It's pretty hilarious how bad these failures are. Most of these issues have already been theorized before later chains came in and failed the hard way.

    https://mobile.twitter.com/Justin_Bons/status/1469375118036160529

    Polygon has effectively no minimum fee, gets spammed since there's no econonmic incentive against it, and has to implement a minimum base fee (30 gwei of matic)

    Apparently BSC nodes are struggling to maintain the blockchain state, and (clarification edit: the blockchain) is on the verge of dying

    https://github.com/binance-chain/bsc/issues/553
     
    Last edited: Dec 13, 2021
  20. munch0r

    munch0r Member

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    Polygon previously upped their fees and tx volume halved overnight, also caused the token price to tank. Minimum base fees will not fix anything, it's just a very crude fix to reduce load, implementations for flashbots on EVM chains can only fix this (which is a completely different discussion).
    BSC Nodes are fine at the moment, they certainly are not on the verge of dying lol. I run nodes for both and I'm quite familiar with both.
    BSC was struggling to maintain sync because they upped the gas limit per block and lower end nodes can't complete the computations in a timely fashion. Also there was very very high tx volume, network getting spammed due to pancakeswap doing IFOs, NFTS getting minted like crazy, etc. They are fine at the moment, network loads are very reasonable right now
     
    illdrift likes this.

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