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The Cryptos


Ke1t

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2 hours ago, Parklife said:

What currencies you been continuing to buy, Q? 

ADA, ETH, DOT, MATIC and VET. I’ve sold, bought and traded others along the way but I’m probably worse off for it. Dollar cost averaging and HODL seems to be the best strategy. Should do alright out of it if they all make it back to their previous highs. Bitcoin making a bit of a recovery now so we’ll see. 

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18 minutes ago, Quagmire said:

ADA, ETH, DOT, MATIC and VET. I’ve sold, bought and traded others along the way but I’m probably worse off for it. Dollar cost averaging and HODL seems to be the best strategy. Should do alright out of it if they all make it back to their previous highs. Bitcoin making a bit of a recovery now so we’ll see. 

Dollar cost averaging and HODL is my approach also. Not through my skill, just what I ended up doing over time.

Only have BTC and ETH. It's volatile as fuck though. 

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31 minutes ago, skye_don said:

Dollar cost averaging and HODL is my approach also. Not through my skill, just what I ended up doing over time.

Only have BTC and ETH. It's volatile as fuck though. 

Trading is a sure fire way of losing your money fast if you don’t know what you’re doing. I thought making 1% a day on the market would be easy. So if you had $10,000 making 1% is $100. Sounds easy enough cos the price can range between a few percent even on the quietest of days. I tried shorting with my ADA wallet and made some extra coins the first few times and then lost them and a little extra by thinking I had sussed it. It’s not worth it unless you’re up to speed with when to enter a trade, setting stop limits, supports and resistance levels, when to take profit etc. Then you need to have big balls to have the patience to let it play out. Too much effort and risk. Buying and praying it goes up is easier. 

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2 hours ago, Redforever86 said:

Cashed out my ADA. Was a fun ride, made about 90% profit overall. Still got my small stake in XLM. 

Time for something new, too much risk in Crypto for me to throw serious money at it. 

I like the look of Cardano... fucking lovely logo... so I chucked a pretty good wedge of cash on it.

The price immediately... and I mean IMMEDIATELY, like in a matter of hours immediately... fell through the fucking floor, and I was down about 60%  by the time it stopped rocketing towards complete worthlessness. ? ?

The funniest thing about it was I used money from an account that I'd been planning to use to buy, at first, an abandoned mining town, and after the wife had vetoed that transaction, a large chunk of Floridian property that was nothing but swamp and alligators... which she also nixxed. 

Wife was fucking fuming about The Great The Cryptos Crash,  and I was able to rub her nose in it with, "Well, if you'd let me spend it on what I wanted you'd at least still have crocodiles." ?

She doesn't really get my sense of humour, to be honest. 

Anyway, all those losses are largely wiped out, and we're back in the black with The Cryptos, as they climb relentlessly towards making me a The Cryptos billionaire. 

I've also got Ethereum (not bad), Bitcoin (not bad), Litecoin (meh), Essentia (shite), XLM (whatever the fuck that is), STP (no idea what that is), and someone suggested RAMP (practically worthless now)

 

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On 8/13/2021 at 7:41 PM, Ke1t said:

I like the look of Cardano... fucking lovely logo... so I chucked a pretty good wedge of cash on it.

The price immediately... and I mean IMMEDIATELY, like in a matter of hours immediately... fell through the fucking floor, and I was down about 60%  by the time it stopped rocketing towards complete worthlessness. ? ?

The funniest thing about it was I used money from an account that I'd been planning to use to buy, at first, an abandoned mining town, and after the wife had vetoed that transaction, a large chunk of Floridian property that was nothing but swamp and alligators... which she also nixxed. 

Wife was fucking fuming about The Great The Cryptos Crash,  and I was able to rub her nose in it with, "Well, if you'd let me spend it on what I wanted you'd at least still have crocodiles." ?

She doesn't really get my sense of humour, to be honest. 

Anyway, all those losses are largely wiped out, and we're back in the black with The Cryptos, as they climb relentlessly towards making me a The Cryptos billionaire. 

I've also got Ethereum (not bad), Bitcoin (not bad), Litecoin (meh), Essentia (shite), XLM (whatever the fuck that is), STP (no idea what that is), and someone suggested RAMP (practically worthless now)

 

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Fucking flying now @Kelt

Thanks to our resident crypto ledge @Redforever86 for getting me in on it. 

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21 minutes ago, Parklife said:

How does that work? Are my coins at risk from doing it? 

The whole point of ADA is proof of stake. You delegate your coins to make the network function, and gain more ADA as a reward for it. Eth is moving to this too.

Over 70% of all the ADA in circulation is currently staked and earning interest.

When you stake on an exchange, you lock them in a fixed term for 30, 60, 90 days etc for varying amount of interest rates, with increasing rates depending on how long you locked them for, earning you more ADA the longer its locked.

Risk free as long as the exchange doesn't go bust, i guess. So the same amount of risk if you leave them on an exchange anyway.

I stake ADA on Binance for 7.79% for 60 day locked periods. Although i do 7 or 15 days at 15%-20% when it's available.

In a non-custodial wallet, it's risk free and you don't need to lock them in but a bit more complicated than doing so via an exchange.

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20 minutes ago, Bebo said:

The whole point of ADA is proof of stake. You delegate your coins to make the network function, and gain more ADA as a reward for it. Eth is moving to this too.

Over 70% of all the ADA in circulation is currently staked and earning interest.

When you stake on an exchange, you lock them in a fixed term for 30, 60, 90 days etc for varying amount of interest rates, with increasing rates depending on how long you locked them for, earning you more ADA the longer its locked.

Risk free as long as the exchange doesn't go bust, i guess. So the same amount of risk if you leave them on an exchange anyway.

I stake ADA on Binance for 7.79% for 60 day locked periods. Although i do 7 or 15 days at 15%-20% when it's available.

In a non-custodial wallet, it's risk free and you don't need to lock them in but a bit more complicated than doing so via an exchange.

Thanks for the explanation. Much appreciated. I have my coins on binance at present anyway, so will do it. I've no intention of selling over the next 60 days anyway, so may as well get a few extra for it. 

 

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52 minutes ago, Bebo said:

The whole point of ADA is proof of stake. You delegate your coins to make the network function, and gain more ADA as a reward for it. Eth is moving to this too.

Over 70% of all the ADA in circulation is currently staked and earning interest.

When you stake on an exchange, you lock them in a fixed term for 30, 60, 90 days etc for varying amount of interest rates, with increasing rates depending on how long you locked them for, earning you more ADA the longer its locked.

Risk free as long as the exchange doesn't go bust, i guess. So the same amount of risk if you leave them on an exchange anyway.

I stake ADA on Binance for 7.79% for 60 day locked periods. Although i do 7 or 15 days at 15%-20% when it's available.

In a non-custodial wallet, it's risk free and you don't need to lock them in but a bit more complicated than doing so via an exchange.

I think its 7.79 APY so doesn't work out as 7.79% over 60 days? I could be wrong though. 

31 minutes ago, Parklife said:

Thanks for the explanation. Much appreciated. I have my coins on binance at present anyway, so will do it. I've no intention of selling over the next 60 days anyway, so may as well get a few extra for it. 

 

I would think about setting up a stop loss around about the 12th September. Generally when a big event happens (like smart contracts going live) the market pumps then dumps around that time. If it does dump 30-40% and you set up a stop loss for around -10% of the price then you'll make more Cardano than you would by staking by buying back in lower than it dumps. Its risky but that's why you stick a stop loss in if it starts to fall too fast for you to react. It will recover either way so there's no risk staking and forgetting about it. 

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25 minutes ago, Quagmire said:

I think its 7.79 APY so doesn't work out as 7.79% over 60 days? I could be wrong though. 

 

I did mention that in my initial comment:

2 hours ago, Bebo said:

If you have Cardano (ADA), make sure you're staking it on an exchange like Binance or a non-custodial wallet to earn 5-7%+ APY.

 

Speaking of staking, i've found Algorand (ALGO) has one of the easiest and most seamless staking experiences. Stick it in the wallet and it automatically stakes rewards without faffing.

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