Crypto-trading thread

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MR Gadsden
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10:28p, 5/12/22
This is a wide ranging conversation about Bitcoin the technology behind it and some of the energy FUD that has been spread and bought into on here. Its a long interview but worth the time.

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Brian Earl Spilner
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In reply to Brian Earl Spilner • 10:30p, 5/12/22
AG
Brian Earl Spilner said:
Well I've 5x my wluna. Time to start looking at retirement options.


10x
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TexasRebel
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In reply to AggieAL1 • 3:08a, 5/13/22
AG
AggieAL1 said:


Instead of a million miners filling warehouses with dedicated computers gobbling gigawatts you would mine just as much bitcoin if you had only 10 miners running the software on their Nextbook laptops. That's a beauty and curse of the game.



Yep, and when your neighbor doubles your computing power, they steal all the coinz by changing the chain.



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Brian Earl Spilner
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In reply to Brian Earl Spilner • 7:30a, 5/13/22
AG
Brian Earl Spilner said:
Brian Earl Spilner said:
Well I've 5x my wluna. Time to start looking at retirement options.


10x
And lost it all overnight.

Funny how a coin down 100% can still go down 100%.
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Brian Earl Spilner
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In reply to Brian Earl Spilner • 7:44a, 5/13/22
AG
I have two silver bullets, in a couple of bucks of some random cryptos from Coinbase offers.

Converted $2 to wluna and nearly tripled my position to 109k tokens.

Have another $1 still.
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Fightin2010
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9:47a, 5/13/22
AG
Buying the dip on Coinbase stock when it was getting annihilated turned out to be at least a good short term play for me
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will25u
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In reply to Brian Earl Spilner • 9:55a, 5/13/22
Brian Earl Spilner said:
I have two silver bullets, in a couple of bucks of some random cryptos from Coinbase offers.

Converted $2 to wluna and nearly tripled my position to 109k tokens.

Have another $1 still.
I'm in on $WLUNA for $12. 202k tokens.
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Brian Earl Spilner
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In reply to will25u • 12:30p, 5/13/22
AG
If it can bounce back to even where it got last night we're both in for a nice payday.
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will25u
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In reply to Brian Earl Spilner • 8:42a, 5/14/22
Brian Earl Spilner said:
If it can bounce back to even where it got last night we're both in for a nice payday.


What once was $12 is now $52. Hit a high of $71 at some point last night.
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Brian Earl Spilner
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9:55a, 5/14/22
AG
My $10 had hit $140 between Thurs/Fri, bottomed out, and jumped back to $40 last night.

I went ahead and converted $10 of that to BTC and have $25 of house money in WLUNA.
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bmks270
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11:30a, 5/14/22
AG
Example of why crypto won't catch on for most.
This dude sent a $250,000 NFT to an out dated Coinbase wallet address. Seems he might be able to recover it because coinbase owns the wallet and may return it to him, but he clearly screwed up.

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Chrundle the Great
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In reply to bmks270 • 11:54a, 5/14/22
AG
Sounds like he got it back at least, coinbase support actually helped
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Diggity
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In reply to bmks270 • 11:55a, 5/14/22
AG
this would never happen with traditional wiring services,,,especially when you have professionals involved.

https://www.bloomberg.com/opinion/articles/2022-05-04/someone-hacked-a-merger
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bmks270
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In reply to Chrundle the Great • 12:38p, 5/14/22
AG
Chrundle the Great said:
Sounds like he got it back at least, coinbase support actually helped


But having another party there to undo screw ups, it is great but it also undermines the whole advantage of blockchain decentralization. So you end up with a bank anyway, with all of the same susceptibility to government and corporate regulators. So there is then no additional advantage over USD and already existing electronic transfer protocols.
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Deluxe
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In reply to bmks270 • 1:59p, 5/14/22
AG
bmks270 said:
Chrundle the Great said:
Sounds like he got it back at least, coinbase support actually helped


But having another party there to undo screw ups, it is great but it also undermines the whole advantage of blockchain decentralization. So you end up with a bank anyway, with all of the same susceptibility to government and corporate regulators. So there is then no additional advantage over USD and already existing electronic transfer protocols.

This is a nitpick but I wouldn't say blockchain decentralization. Bitcoin uses a blockchain as one component of a comprehensive protocol to achieve consensus, but blockchains themselves aren't inherently decentralized. Most are quite centralized.

And the only aspect of a mass transaction system that needs to be sufficiently incorruptible and decentralized is the base layer. All the other layers can be customized for user experience. With all due respect (because you seem to be willing to discuss this in good faith), I think your knowledge gap lies is how to make a real comparison between the existing fiat system base layer and Bitcoin's base layer.

When you really peel back the onion of the macro global financial transaction system, it's horribly archaic and inefficient and in dire need of an upgrade.
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ClickClack
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In reply to TikkaShooter • 2:45p, 5/14/22
AG
TikkaShooter said:
Quote:
I'm still a big believer in it long term but just not comfortable with what's going on right now.


I don't understand and will never understand this sentiment.


It's pretty simple, I wasn't willing to lose what I had in it and it was a sort of cushion for me. I don't like how it's tracking with the market and I don't like this whole tether destabilization right now. Mainly I'm nervous about where the overall market is heading for the rest of the year and it's clear it will take Bitcoin down with it due to the large institutional investing, I suppose.

I was hoping Bitcoin would be somewhat of an inflation hedge but it's clearly not. I still believe in crypto and think Bitcoin is the base and pretty much the only one worth buying.
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Brian Earl Spilner
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5:39p, 5/14/22
AG
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Brian Earl Spilner
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5:56p, 5/14/22
AG
Not sure what this could mean exactly, but interesting.

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will25u
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6:43p, 5/14/22
People thinking this is the foundation getting ready to burn Luna. Don't think I buy it.


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Adverse Event
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In reply to LatinAggie1997 • 9:10a, 5/15/22
LatinAggie1997 said:
ONE is not a true competitor to Cardano.
ONE competes with the like of Celsius and Zilliqa.

Take Polygon for example, which is a L2 scaling platform using eth for security, while providing super speed and gas efficiency. ONE is a whole blockchain to itself, but is also bridging to Eth (and others) for interoperability, not for security.

Polygon is a layer 2 token, Harmony is a layer 1 coin/blockchain. Polygon can operate on Harmony.

Why I like Polygon but have a big bag of ONE.


In case we got some bagholders,

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LatinAggie1997
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In reply to Adverse Event • 11:13a, 5/15/22
AG
Nope, I only hold BTC, ONE, ADA, Shib, and a few Cardano specific tokens.
I never bought Celsius.
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Brian Earl Spilner
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11:19a, 5/16/22
AG
$WLUNA running a bit.
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will25u
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11:51a, 5/16/22
Running down you mean? Ha.

My $12 was up to around $70 this past weekend. Sold @.00015 and mad ~250%
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LMCane
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11:55a, 5/16/22
everytime BTC is under $30K I buy a bit more

up to .453 now

plus 3.5 ETH

question for the pros:

should I move to using a Ledger Nano S even though my account is on Coinbase right now?

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XpressAg09
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In reply to LMCane • 12:04p, 5/16/22
AG
LMCane said:
everytime BTC is under $30K I buy a bit more

up to .453 now

plus 3.5 ETH

question for the pros:

should I move to using a Ledger Nano S even though my account is on Coinbase right now?

Not an expert, but they'll tell you something along the lines of:
"Not on your ledger, not your coins..."

And have you not seen that Coinbase is/might be going under and claim that their coins are theirs, not yours?
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Malachi Constant
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1:20p, 5/16/22
AG
Anyone want to give an "explain it like I'm 5" summary of how to get coins off of coinbase into my own ledger?
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will25u
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In reply to Malachi Constant • 1:26p, 5/16/22
Malachi Constant said:
Anyone want to give an "explain it like I'm 5" summary of how to get coins off of coinbase into my own ledger?
Figure out a coin you want to store on your hardware wallet. Ex. BTC
Convert whatever other coin to BTC on Coinbase.
Transfer BTC to hardware wallet address...
Profit?

MAKE SURE YOU HAVE THE CORRECT WALLET ADDRESS. IF YOU TRANSFER TO A MISTYPED ADDRESS, YOU WILL NEVER SEE YOUR COINS AGAIN.
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XpressAg09
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In reply to Malachi Constant • 2:31p, 5/16/22
AG
Malachi Constant said:
Anyone want to give an "explain it like I'm 5" summary of how to get coins off of coinbase into my own ledger?
Buy a ledger.
Follow instructions to set up.
Go to BTC account on ledger and select 'receive'
Copy the long list of letters and numbers.
Go to Coinbase BTC account and select 'send.'
Paste long list of letters and numbers.
Verify long lists match.
Press send
Panic for one hour until the funds arrive due to block chain.

It's basically a Venmo transfer with longer account numbers.
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Diggity
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In reply to XpressAg09 • 2:38p, 5/16/22
AG
good summary.

I will add that I did this recently (moved BTC from Coinbase to my Nano) and it only took a minute or so for the BTC to show up on my Nano.

Oddly, it took Coinbase until the next day to show the coins had left.
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AgEng06
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2:39p, 5/16/22
AG
Do you have to have a full coin (1.0 BTC, ETH, etc.) in order to move it?
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Diggity
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In reply to AgEng06 • 2:41p, 5/16/22
AG
no
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BmtAg96
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2:50p, 5/16/22
AG
How do I set up a digital wallet? My current holdings of Bitcoin and Etherium are in my Coinbase account.
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GreasenUSA
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In reply to BmtAg96 • 2:55p, 5/16/22
AG
BmtAg96 said:
How do I set up a digital wallet? My current holdings of Bitcoin and Etherium are in my Coinbase account.
I use Exodus. https://www.exodus.com/

Download it, and follow instructions, and then send from Coinbase to the Exodus address for each.
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Definitely Not A Cop
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In reply to BmtAg96 • 2:56p, 5/16/22
AG
BmtAg96 said:
How do I set up a digital wallet? My current holdings of Bitcoin and Etherium are in my Coinbase account.


Do you want to use a digital wallet from Coinbase, or keep it off site?
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MAS444
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3:09p, 5/16/22
AG
I'm sure this is a dumb question but what happens if you lose your Ledger/Nano o rit gets damaged or soemthing? Are you SOL or are your coins backed up somewhere?
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