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04-24-2022, 12:26 PM
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#4151 | | I *heart* Revscene.net very Muchie
Join Date: Dec 2009 Location: Burnaby
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Originally Posted by PeanutButter  I lost about $2k USD
haha, definitely a learning experience. | Appreciate your honesty there. As I expected.
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04-24-2022, 12:31 PM
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#4152 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,020
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Anyone take any courses on crypto? https://www.edx.org/course/bitcoin-and-cryptocurrencies
This one is by the University of Berkeley and it's free.
Don't worry about the start date it changes every day to the current day.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | 
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04-25-2022, 01:49 PM
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#4153 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
Posts: 3,606
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| Quote:
Originally Posted by PeanutButter I lost about $2k USD
haha, definitely a learning experience. | man i haven't even looked at what mines down to now....pretty sure mines about $1500 CDN loss
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04-25-2022, 01:58 PM
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#4154 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
Posts: 2,190
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| Quote:
Originally Posted by blkgsr man i haven't even looked at what mines down to now....pretty sure mines about $1500 CDN loss | Probably better you don't look at it... lol
I was just getting so bored just holding. So I took some profits and threw money at:
Rebasing DAO's = loss
Alt coins = loss
NFT's = loss
I probably lost ~$6-7k USD in the last year trying new things. While it was fun at the time and I did learn a lot, there's something to be said about just holding BTC and ETH.
It's boring, but that's the only thing that has made me money while in this space.
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04-25-2022, 02:01 PM
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#4155 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 15,356
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Me too, most alt coins I broke even or lost a bit, a few bigger wins here and there on FTM and stuff… but I’ve always made money buying dips on BTC and ETH
My biggest loss like $500 was when I took a chance on dogecoin before Elon went on SNL, thought it might moon if he went in on it but instead he fucked everyone with a negative rant in his intro... no surprise lol
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04-26-2022, 08:51 AM
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#4156 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
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Nobody make money in crypto their first cycle.
I think thats the golden rule in crypto more so than traditional equity lol.
Lose 5 figures my first go around in crypto too. When you are new you are always buying the news when everyone is selling the news.
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04-26-2022, 11:04 AM
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#4157 | | Proud to be called a RS Regular!
Join Date: Nov 2013 Location: YVR
Posts: 106
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literally lost 70% of my shit from peak but that's after being up a bunch, but still brutal. If you haven't degen'd like me it's not too late to practice good risk management.
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04-27-2022, 11:11 AM
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#4158 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
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time to buy more or still going down???
Million dollar question
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04-27-2022, 01:05 PM
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#4159 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
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Originally Posted by threezero Since NFT and crypto are criticisize as non-environmentally friendly. How about something more healthy for yourself and the environment.
Found this cool project on Solana, the first move to earn game/app. currently in open beta Fully functional and quite polished at this stage. Available on android/ios
Earn GST token for running in real life. You do need to own one of their Shoe NFT, each time you run the durability of the virtual shoes decreases a bit and each NFT's trait affects your token earn rate. If you own two of them you can mint a new NFT, for a cost of course. Soon they will be implementing a renting system so you can stake the NFT and have someone rent it so new users don't have to pay hundreds of dollars (currently) required to start using the app.
Many NFTs are based on utility. But this is something regular folks outside the community can easily relate to. How many running apps are there in the app store? How many provide actually incentive to use it.
NFT doesn't JUST have to be a Jpeg, and for flaunting. https://stepn.com/ |
The "stupid" NFT shoes I mention backed in Feb has now double in value. The associated tokens did a 3-4x (slightly more for the unlimited token you earns, slightly less gain for the limited supply governance token). Token GMT and GST just got listed in Coinbase.
They has since cap new user registration to throttle the amount of new user as the app is still in beta and they are carefully balancing the amount of new user influx, tokenomic and just stablilty of their software. Onboarding new user at an approximately rate of 1000 user per day (their daily limited for free registration code)
Watch for this to really kick off in the summer.
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04-27-2022, 01:29 PM
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#4160 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
Posts: 2,190
Thanked 2,752 Times in 700 Posts
| Quote:
Originally Posted by blkgsr time to buy more or still going down???
Million dollar question |
Crypto has been in a consolidation phase since Jan 2021, when BTC was around $41k. I suspect it'll continue to bounce around this zone for awhile. I don't see a break out coming anytime soon. If anything, given macro factors, there's a higher probability it will continue to drop.
Just keep averaging in. I'm long BTC, but i'm not going to refinance the house.
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04-27-2022, 01:38 PM
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#4161 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
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Personally I dont see BTC doing anything big until the next halvening.
There are alot of smaller project in crypto is has been relatively unaffected by the macro condition that is driving the top 5 marketcaps.
BTC is the long game. Short terms wise, there are definitely better return elsewhere.
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04-28-2022, 06:13 AM
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#4162 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
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ya wasn't specifically commenting on BTC itself
what other coins are you guys looking at right now?
anyone buying more of the old coins like XRP, ADA, DOT, AVAX etc etc etc....first ones that came to find
what about metaverse coins? SAND etc?
new ones?
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04-29-2022, 01:15 PM
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#4163 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
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Fundamentally Nothing in crypto has any intrinsic value.
Being able to transfer money between people, or decentralization or technology etc has never been the reason for for raise in value on xyz coin. The same argument anyone here made on NFT is actually the same argument that could be said for any coin. Coin/NFT whatever in crypto stuff will only have value as long as there is capital inflow > capital outflow
This is ONLY reason for coin movement and why BTC and ETH is relatively safe and stable vs the other. They are part of the porfolio for many institutions now which mean you are less likely to see a massive capital outflow event, reducing the coin's value to zero. Which also mean they are highly correlated to the general growth market. The portional holding in massive porfolio balance their BTC/ETH holding as if they are growth stocks.
Seeing as how we are in a bear market, it very dangerous to place your bet on this cycle's darling without understanding the underlying reason for capital influx into xyz ecosystem. Most of the minor chain depend heavily on Defi as a way to lock capital into their ecosystem. Which can quickly spiral out of control, be exploited or simply lose out to another ecosystem with higher APR.
Everybody hates NFT here, but onchain data shows ETH to be the one of the few smart contract based blockchain not have all of their onchain activity peg to predominately to a defi system that base on refinancing of debts over and over again (SOL close second, AVAX has a bit of non defi related activity as well).
If you are betting on the smaller chain right now, you really have to ask yourself if you understand the fundamental reason why you believe this chain will come out ahead of the bear market. Alot of the darling of last cycle has never reach their previous ATH this cycle.
Anything else can just be consider a memecoin, SAND/MANA all these sound like they have a fighting chance. But really its just another memecoin that get pump and dump with a narrative, It no different than SHIB/DOGE. There is zero incentive for whale to keep their capital in these coins other than to participant in the pump and dump.
TLDR: If you can't wrap your head around defi, NFT (yes this drive market whether you like it or not). Just DCA BTC/ETH and wait out the bear market. Throw small chump charges at memecoins just in case but expect them to never recover. If you understand the narrative behind $$ flowing into certain coins/project/NFT, There are actually alot of smaller cap that you can invest in on the short terms. But 99% of these will come and go. The top 10 for the next bull cycle is going to look very different than what we have today.
Last edited by threezero; 04-29-2022 at 01:41 PM.
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04-29-2022, 02:04 PM
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#4164 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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threezero hit the nail on the head.
BTC/ETH is like the S&P 500 index, it's the "safe" bet. If you're familiar with another coins ecosystem then you can go in, but most are just long shots.
Stick with BTC/ETH and if you have cash laying around buy some moon bags
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04-29-2022, 06:27 PM
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#4165 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,091
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| Quote:
Originally Posted by threezero Fundamentally Nothing in crypto has any intrinsic value.
| We could literally delete every other post in this thread and it would sum it up. Everything else is just magic 8 ball.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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04-30-2022, 12:18 PM
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#4166 | | My homepage has been set to RS
Join Date: Nov 2008 Location: vancouver
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I’ve been averaging into BTC etfs every week during this period. Not large amounts but I feel like it’s a good idea right now. I know it’s not the same as owning the coin itself, it’s just super convenient
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04-30-2022, 12:54 PM
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#4167 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
Posts: 2,190
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Originally Posted by RevYouUp I’ve been averaging into BTC etfs every week during this period. Not large amounts but I feel like it’s a good idea right now. I know it’s not the same as owning the coin itself, it’s just super convenient | I also have some BTC/ETH etf's in some registered accounts, but the thing I don't understand is how they obtain the value of the buys and sells.
Like if I buy the BTC ETF at 8am, but then the price drops by 10% by 12pm, what price am I buying at?
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05-05-2022, 12:31 PM
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#4168 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,020
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Just got a tent for a grow show.
Spent around $700 so I can move most of my cards into a tent for the summer. Will see how well it does. Went with an 8 inch AC Infinity exhaust fan. Hoping I will not have to run it at full speed to keep the noise down.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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05-05-2022, 07:54 PM
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#4169 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
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Originally Posted by westopher We could literally delete every other post in this thread and it would sum it up. Everything else is just magic 8 ball. | Many Stocks are now at pre-covid level. Some are under pre-covid covid level.
BTC/ETH still holding up at 2-3x pre covid level. Some of the top 20 coins are still up 50-100x from pre-covid
Having no intrinsic value isn't necessarily detrimental to the valuation of an asset.
In theory stocks especially growth stocks that produce no dividend has no intrinsic value either. Yea you can vote on things as a "shareholder" which you can also do as holder of some coin. But really does anyone care, it makes zero difference unless you are a large holder
Stock market was all about creating value out of thin air. Crypto is just a new age version of it with a twist of liberalism and anarchy
Last edited by threezero; 05-05-2022 at 08:00 PM.
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05-05-2022, 08:27 PM
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#4170 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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Stocks that don’t produce dividends still have a value based on the exchange of goods or services for money to create a valuation.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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05-06-2022, 06:44 AM
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#4171 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
Posts: 5,185
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Originally Posted by westopher Stocks that don’t produce dividends still have a value based on the exchange of goods or services for money to create a valuation. | Not exactly true. Valuation of a non dividend stock isn't really 100% correlated to its actualy performance as a company. Many of the top tech company that brings in billion of revenue (not neccesary income thou) are now trading at a PE not seen for a decade. Stock can be dillute by issuing of more stocks. But mostly affect by broad monetary measure such as brrrr money printer
Conversely there are stock in the stock market with absolutely zero revenue, that are trading based an idea (99% of the penny stock selection) and serve as a vehicle for company to raise capital rather than a reflection of the underlying company fundamental
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05-06-2022, 07:10 AM
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#4172 | | Willing to sell body for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 12,091
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Good point, but those companies still raise capital based on a theoretical sales potential. They all either provide, or will provide a tangible exchange of something for money that actually exists.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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05-07-2022, 03:40 AM
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#4173 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,020
Thanked 7,386 Times in 3,466 Posts
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Nicehash just released a 100% unlock for lhr cards!
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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05-07-2022, 01:23 PM
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#4174 | | I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002 Location: CELICAland
Posts: 25,652
Thanked 10,382 Times in 3,908 Posts
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I guess I bought some lhr cards at just the right time
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05-07-2022, 01:51 PM
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#4175 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,473
Thanked 14,346 Times in 5,651 Posts
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Originally Posted by Manic!
Just got a tent for a grow show.
Spent around $700 so I can move most of my cards into a tent for the summer. Will see how well it does. Went with an 8 inch AC Infinity exhaust fan. Hoping I will not have to run it at full speed to keep the noise down. | Just run the AC Infinity at a constant speed that maintains temps. don’t try to mess around with the triggers or you’ll be waking up to an alarm going off in the middle of the night
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Dank memes cant melt steel beams
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