Is anyone else starting to become a bit excited?

ZeroThreat wrote: »

Swissborg had a little pull back, I haven't put any money into defi cryptos yet. Would you consider this a good one, or has it risen too quickly to where it is even now? I'll have to check into this one further in the meantime, is the fallout from wirecard affecting its future prospects I wonder..

You can see on the Cryptobubbles site which ones have surged recently. It sounds obvious but all I'll say is that you don't want to buy at the top! Either parhaps look to get it on these once they've pulled back a bit or look at ones that are in the top 20 to 30 that have yet to move.

el diablo wrote: »

Nice. I got in around $0.30 (a relatively small amount though) and haven't sold any. I'm just going to let it ride.

Same as

1 alt run is always equal 1 alt run.

ZeroThreat wrote: »

I think that's what happened during the previous bubble. Bitcoin was something like $15k?, but had about 1/3 of the total cap.

Just trying to figure out, when things start to pop, should you move everything back to bitcoin straight away or use a stable coin while there is still turbulence.

el diablo wrote: »

Yeah, I might take my original stake back on Chainlink and look to deposit in another potential moonshot.

RSR and DAG look promising.

If this was ever implemented by Bitcoin, Litecoin, Bitcoin Cash, etc then ADA holders should start planning for their early retirement:)

Cardano is working on offering all of it's features for use by the PoW blockchains that are willing to implement Cardano NiPoPoWs (https://nipopows.com). For little effort or development cost the PoW blockchains would gain the ability to use Cardano smart contracts, voting, oracle pools, etc and in return ADA holders would get rewards / Tx fees in the PoW cryptos:eek:

Something like this already exists on ETH where you can use wrapped BTC on the ETH chain but you still have to use ETH for the transaction. It's way too expensive and overly complex. Cardano is built to allow native assets behave the same as ADA which means you pay fees in the native asset. Much cheaper and far less complex to do than the ETH solution. PoW chains would gain all of Cardano's features for extremely cheap fees.

Imagine checking your Daedalus or Yoroi wallet and it shows ADA, BTC, LTC, BCH, etc. Every five days you would be gaining ADA + PoW crypto for free...mind blowing stuff that will no doubt be rejected by dinosaur PoW communities.

https://www.youtube.com/watch?v=HvIAgDEUC4o

I wish these ALTs weren't so hard to buy. They are all over the place. Exchanges are so user unfriendly. It's like 2016 all over again.

Looks like Binnance are one if the few with LEND. But the site is garbage.

Can't buy with a card as I've to wait for my account to get checked. It says it should take 20 seconds. That was 5 mins ago.

I try to transfer Bitcoin and Coinbase says I don't have the address whitelisted.

I can add the address as that isn't supported on mobile.

I'll have to get up go down stairs turn on the pc, whitelist the address then transfer it. All for €200 worth!!

Bitcoin diamond forming a parabolic pattern on the 4HR chart for anyone that's into that type of thing

makeorbrake wrote: »

This is interesting - although I'm struggling to get my head round it properly. If the gen 1 PoW coins generally have a store of value/means of exchange use case, why the need to send them to the cardano network and 'wrap' them?

I know this is being done in the ETH-centric DeFi space. However, all I see it doing is bringing liquidity to DeFi. What other purpose does it serve? How would it differ in the case of Cardano?

I'm a firm believer that there will be category leaders who will survive once this whole wave of innovation finally settles. But with that, is it not a case of choosing the blockchain/token for the specific purpose one has in mind?
So I guess I'm saying if you want smart contracting ability, then isn't it a case of not going near Bitcoin and weighing up Cardano against Ethereum and other smart contract ready projects?

Lets take the example that Hoskinson gave - the potential for a link-up with Litecoin. I can see what that would do for Cardano. I don't see what it does for Litecoin. Might such a move not be more symptomatic of the fact that Litecoin has no real world use case (or has failed to capture one)?? If so, why even bother with Litecoin to begin with - and just use Cardano natively?

I guess what I struggle with - with this stuff - is working this out to real world examples that can be demonstrated to add tangible value.

Out of all the PoW crypto's LTC would be the most likely community that would agree to try this out. Your probably not going to get the BTC community interested until you've proven this works in advance. Once it's proven to work with LTC it pretty much works for BTC too, as LTC is just a version of the same code. The real target for this work is getting BTC onboard with LTC just been the first test case.

As you say LTC is pretty much useless, people should own BTC not LTC but it still has almost a $3b market cap. For Cardano it's basically a BTC test ground to play around and get this functioning. Cardano is a multi-asset ledger so the more types of assets tested the better. For LTC it gives their community easy cheap access to features or services that will probably never be available natively on LTC like smart contracts, DeFi, dapps, oracles, voting, etc. Granted many of these are still to be enabled for Cardano itself but by the end of the year the current roadmap should be fully completed. The current best model for older chains to use smart contracts / DeFi on ETH is very expensive, what Cardano does differently is that it lets assets like wrapped LTC behave like ADA on chain. So LTC users wanting to use smart contracts or DeFi don't need to own any ADA to do so, they would use wrapped LTC and pay any fees in wrapped LTC. This makes Cardano's method much cheaper for LTC users as they don't need to pay transaction fees in ADA or ETH.

More interoperability between chains that add features or services is probably the only way forward for some of them to survive. Look at the sheer amount of features or services Cardano has to try to implement just to have any market interest. BTC is probably the only crypto today that can get away with been an expensive, environmentally damaging one trick pony, everyone else has to science the **** out of it to have any hope of long term usage.

makeorbrake wrote: »

For sure, there's a whole lot of value locked up in a few other coins that have not done anything. How long is it going to take for this to come to a head once and for all?


I guess I was pondering why the need as if smart contracts was what was sought after, then why not go native with Cardano, Tezos, Eth, etc. I suppose if you already happen to be in BTC already and then want that additional functionality...
Or is it that some will prefer to stay in BTC as a store of value whilst accessing the extended features that ADA will have to offer?

I more or less agree. Every project needs to find it's unique angle or else do much better to challenge the current leader in whatever category that's being targeted. It's a small point but being a one trick pony (maybe 2 through layer 2 solutions...we'll have to see) is seen as being an advantage. Much less complexity in the code - so less to go wrong. On the cost of the network, I think there's space for one PoW network albeit that for the most part, it's a buyer of last resort of energy (and that usually means renewable energy also...albeit no matter if it's otherwise going to waste anyway).
DeFi I've been watching with interest but staying on the sidelines - as it's the opposite...i.e. in move fast and break things mode. No doubt it will settle at some point (whether that also means that it stays within the Ethereum domain, we'll have to see).

Listened to Hoskinson being interviewed recently and he said that the claim that Eth has the momentum and network effect is not relevant given the early stages we're at. With soundings this week that Ethereum 2.0 is being delayed further, he and Cardano may have a chance to close that gap. Interesting times ahead (as always).

I think many of us expected a crypto extinction event to have occurred by now. According to CMC there are 5709 crypto's which is completely unsustainable. There simply isn't a need for this many networks or platforms that are a copy of a copy. If many of these coins were starting out today they would just be new tokens on a PoS multi-asset ledger rather than needing their own blockchain. If Dogecoin was been created in 2021 it would probably just be a newly minted token running on Cardano.

One aspect to this that people might not be aware of is that the Daedalus wallet is a full node wallet and is designed to be multi-asset. So the plan is for ADA, BTC, LTC, etc holders to have their ADA, BTC, LTC, etc all within Daedalus. As it's a full node wallet it directly hooks into all of Cardano's core features and services. Daedalus will gradually evolve into a Dapp store with a DEX, DeFi, Cardano stablecoin, etc. The idea is that crypto users of any flavour will have all their crypto in Daedalus to easily and securely access all of the Cardano features at the click of a button. In that scenario what crypto you own or what chain it's on begins to melt away into the background and all that matters is what do you want to do with it. Lots of work ahead to implement this but I would assume this is also part of the reason for the LTC linkup. If Cardano can have an LTC wallet in Daedalus with access to all of the features of Cardano then it can offer the same service for BTC or any other crypto.

I own a nice lump of ETH so I'm not some Cardano fanboy cheering on delays or problems for ETH. I want every valid project to succeed, a stronger healthier decentralised market is good for all projects. Who knows what ETH miners will do, we could end up with ETH 2.0, ETH PoW and ETC. If that community splits in two again after a bunch of delays then it might be in trouble. DeFi has been a major driver for ETH but the financial services world likes stability within it's domain. If ETH goes to war with itself then Cardano might be the DeFi safe haven people turn to next year. Cardano still has a lot to prove though, they need to successfully complete the current roadmap by the end of the year and then it needs more time under battlefield conditions. Lets see if Cardano can handle DeFi without been hacked day one before we start patting Charles on the back:)