arch_8ngel | 1,597 Posted November 8, 2021 Share Posted November 8, 2021 2 hours ago, DoctorEncore said: I'm all in on Orion Protocol yield farming. Currently receiving APRs between 35% and 300%, depending on the coin. I would be curious to hear an attempt at an explanation for where those kinds of yields could come from. These kinds of things scream "clawback risk" depending on how it all falls apart when the music stops 1 Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted November 8, 2021 Share Posted November 8, 2021 12 minutes ago, arch_8ngel said: I would be curious to hear an attempt at an explanation for where those kinds of yields could come from. These kinds of things scream "clawback risk" depending on how it all falls apart when the music stops The staking rewards come from the tokens themselves and are factored in when the coin is created. If you read the white papers for these IDOs, they always include staking/liquidity rewards. If they didn't, then no one would provide liquidity and it would be impossible to exchange the coins, making them worthless. Usually the huge rewards are time limited (i.e. 300% for one month) while the moderate rewards tend to be longer lasting (i.e. 30% indefinitely). The moderate sized rewards often encourage use of a particular ecosystem (in this case, Orion Protocol) and are derived from trades made in that ecosystem. For example, I'm staking ORN-USDT pairs which allows others to easily swap those tokens and I receive a small commission on every trade. The risk comes from the value of the tokens themselves. This volatility can cost you money as an actual loss or a loss of potential profits. Ideally these losses are offset by commissions earned through providing liquidity. The more volatile an asset, the higher the APR, and the higher the risk. A good article about this concept of impermanent loss: https://academy.binance.com/en/articles/impermanent-loss-explained.amp Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted November 8, 2021 Share Posted November 8, 2021 (edited) We are living in crazy land if there is an attempt to characterize 30%APY as "moderate" in any form or fashion. So basically, they are paying tokens as interest on people willing to buy and hold tokens to draw capital into their ecosystem. That doesn't sound particularly sustainable. I am curious whether people participating in these schemes understand the very real financial and legal risk of clawback, where, once the whole thing falls apart, people who profited can be made to return all profit and then some to help spread out the losses with those who go into it too late to see a positive return. Just because it is "decentralized finance" it doesn't completely neuter the legal ability to go after a Ponzi scheme if it turns out to be one. Edited November 8, 2021 by arch_8ngel Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted November 8, 2021 Share Posted November 8, 2021 45 minutes ago, arch_8ngel said: We are living in crazy land if there is an attempt to characterize 30%APY as "moderate" in any form or fashion. So basically, they are paying tokens as interest on people willing to buy and hold tokens to draw capital into their ecosystem. That doesn't sound particularly sustainable. I am curious whether people participating in these schemes understand the very real financial and legal risk of clawback, where, once the whole thing falls apart, people who profited can be made to return all profit and then some to help spread out the losses with those who go into it too late to see a positive return. Just because it is "decentralized finance" it doesn't completely neuter the legal ability to go after a Ponzi scheme if it turns out to be one. I think you'd be hard pressed to apply clawback in this type of situation. These are real private companies that raise capital through private funding rounds, IDOs, and finally public offerings. You can argue until you're blue in the face about the sustainability, but this is commonplace in crypto and spelled out clearly in funding rounds. There is no real deception here. There is a specific number of tokens minted at the generation event and then a specific number of those allotted for staking and liquidity awards. If a million people stake, then you might only make 1% APR. If only 100 people are willing to take on the risk of staking, the reward is justifiably increased. I'd strongly recommend checking out the white papers of some of the more successful and respected IDOs as well as reading that article I linked. So are there risks? Absolutely. Are they any higher risk than something like individual "penny" stocks? Debatable. Could you lose all or most of your money? Absolutely. Should you be investing in crypto if you're not willing to lose all your money? Absolutely not. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted November 8, 2021 Share Posted November 8, 2021 Looks like bitcoin will make a run at the all time high today. This could be an interesting week. 1 Link to comment Share on other sites More sharing options...
RH | 4,903 Posted November 8, 2021 Share Posted November 8, 2021 Ugh, this is "small potatoes" to some of what I could have made my last year in crypto had I not been "fried" and exhausted with the scene. Jeez, I wish I just held on to 10% of all of the stuff I purchased from old ICOs. Link to comment Share on other sites More sharing options...
RH | 4,903 Posted November 8, 2021 Share Posted November 8, 2021 Lol, one more to show just how bad my getting out was. Keep in mind, I didn't even get this many BTC when I finally unloaded these iotas, and this was long before the huge push up of BTC past $10k. Anyway, I'll leave the math up to the reader. This was most but not all of my IOTA ICO stake back in 2016/2017. I'm not sure why I'm posting this but it's history. This is why I've checked out and my loving wife refuses to talk about it. Legit, she won't talk about this. Screencap from Bitcoin Talk (https://bitcointalk.org/index.php?topic=1550236.msg17885826#msg17885826). My user account is RLH over there too. Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted November 8, 2021 Share Posted November 8, 2021 I've been hearing a lot about Loopring recently, what do the smart Crypto people in this thread think of that one? Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted November 10, 2021 Share Posted November 10, 2021 On 11/8/2021 at 10:15 AM, RH said: Lol, one more to show just how bad my getting out was. Keep in mind, I didn't even get this many BTC when I finally unloaded these iotas, and this was long before the huge push up of BTC past $10k. Anyway, I'll leave the math up to the reader. This was most but not all of my IOTA ICO stake back in 2016/2017. I'm not sure why I'm posting this but it's history. This is why I've checked out and my loving wife refuses to talk about it. Legit, she won't talk about this. Screencap from Bitcoin Talk (https://bitcointalk.org/index.php?topic=1550236.msg17885826#msg17885826). My user account is RLH over there too. Looks like you traded what would be $11 million dollars of bitcoin away. I probably wouldn't want to talk about it either! 2 1 Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted November 10, 2021 Share Posted November 10, 2021 On 11/8/2021 at 11:08 AM, jonebone said: I've been hearing a lot about Loopring recently, what do the smart Crypto people in this thread think of that one? I haven't heard anything about it. I'll check with one of my buddies who follows things more closely. On a side note, TRX is finally coming up. Not sure if it's a just a short run with BTC stabilizing or signs of things to come. I'm holding for now. Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted November 10, 2021 Share Posted November 10, 2021 (edited) 39 minutes ago, DoctorEncore said: I haven't heard anything about it. I'll check with one of my buddies who follows things more closely. On a side note, TRX is finally coming up. Not sure if it's a just a short run with BTC stabilizing or signs of things to come. I'm holding for now. Well it's up over 100% since I mentioned it Monday so there's that. Need to get off my butt and open a darn Coinbase account sooner than later. Edited November 10, 2021 by jonebone Link to comment Share on other sites More sharing options...
OptOut | 8,883 Posted November 10, 2021 Share Posted November 10, 2021 1 hour ago, Bearcat-Doug said: Looks like you traded what would be $11 million dollars of bitcoin away. I probably wouldn't want to talk about it either! Eleven million dollars, sheesh!!! And to think, the only thing I've lost investing in OPTcoin is my dignity! 3 Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted November 10, 2021 Share Posted November 10, 2021 46 minutes ago, OptOut said: Eleven million dollars, sheesh!!! And to think, the only thing I've lost investing in OPTcoin is my dignity! You had dignity? 1 2 Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted November 10, 2021 Share Posted November 10, 2021 1 hour ago, jonebone said: Well it's up over 100% since I mentioned it Monday so there's that. Need to get off my butt and open a darn Coinbase account sooner than later. With BTC and ETH stabilizing at new highs, alt coins should start to see a big influx, so it's definitely something to consider right now. I'm only buying new listings, buy there are definitely some good projects out there. Link to comment Share on other sites More sharing options...
RegularGuyGamer | 2,012 Posted November 10, 2021 Share Posted November 10, 2021 Looks like a lot of alt coins are down right now. Litecoin still holding strong. I read a post about hot Litecoin was undervalued at $195 and thought man I found two just throw a few bones at it and BAM it just started shooting up. And not it's not even coming down in the sell off. Idk what the deal is Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted November 11, 2021 Share Posted November 11, 2021 12 hours ago, DoctorEncore said: With BTC and ETH stabilizing at new highs, alt coins should start to see a big influx, so it's definitely something to consider right now. I'm only buying new listings, buy there are definitely some good projects out there. Bitcoin hit $69k earlier and now its back down to $64.5k. What a wild day. 1 Link to comment Share on other sites More sharing options...
RegularGuyGamer | 2,012 Posted November 12, 2021 Share Posted November 12, 2021 On 10/31/2021 at 5:55 PM, Code Monkey said: Do you have any insight as to why STORJ has such huge rapid swings? Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted November 12, 2021 Share Posted November 12, 2021 I've been getting into the Solana network lately and I think it has a really bright future. Between that and Binance Smart Chain, Ethereum seems absolutely archaic. StarLaunch, a Solana launchpad, finally launched their native token and it's hovering around $4.50-$5. It will be used to stake and buy into their IDOs. I'm currently invested in Cardstarter which is from the same people on the ETH/ADA blockchains, but the ETH fees makes participating in IDOs significantly less profitable. With Solana, transaction fees are in the pennies, so I think it could be a really good opportunity to get in on a growing ecosystem. They're also offering 250% APR for liquidity staking right now on Raydium.io. Definitely worth looking into if you're interested in getting in early on projects. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted November 12, 2021 Share Posted November 12, 2021 I bought some more bitcoin while it's down slightly. It seems like a simple yet effective strategy. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted November 12, 2021 Share Posted November 12, 2021 1 hour ago, DoctorEncore said: I've been getting into the Solana network lately and I think it has a really bright future. Between that and Binance Smart Chain, Ethereum seems absolutely archaic. StarLaunch, a Solana launchpad, finally launched their native token and it's hovering around $4.50-$5. It will be used to stake and buy into their IDOs. I'm currently invested in Cardstarter which is from the same people on the ETH/ADA blockchains, but the ETH fees makes participating in IDOs significantly less profitable. With Solana, transaction fees are in the pennies, so I think it could be a really good opportunity to get in on a growing ecosystem. They're also offering 250% APR for liquidity staking right now on Raydium.io. Definitely worth looking into if you're interested in getting in early on projects. They mentioned Solana briefly on CNBC this morning. It seems like something to watch for sure. 1 Link to comment Share on other sites More sharing options...
Gloves | 11,776 Administrator · Posted November 12, 2021 Share Posted November 12, 2021 2 minutes ago, Bearcat-Doug said: I bought some more bitcoin while it's down slightly. It seems like a simple yet effective strategy. I am hereby taking this as financial advice, and have purchased BTC. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted November 12, 2021 Share Posted November 12, 2021 Just now, Gloves said: I am hereby taking this as financial advice, and have purchased BTC. Smart move. Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted November 12, 2021 Share Posted November 12, 2021 23 minutes ago, Gloves said: I am hereby taking this as financial advice, and have purchased BTC. Looks like @Bearcat-Doug will be going to jail for handing out illegal investing advice. Thanks, Gloves. Link to comment Share on other sites More sharing options...
SilverspoonGaming | 332 Posted November 12, 2021 Share Posted November 12, 2021 I have been mining Bitcoin off of a single GPU for about a month now and have made $100. Pretty easy money... 1 Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted November 12, 2021 Share Posted November 12, 2021 1 hour ago, DoctorEncore said: Looks like @Bearcat-Doug will be going to jail for handing out illegal investing advice. Thanks, Gloves. Man, not again! 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now