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Is anyone else starting to become a bit excited?

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    #2432
    cnocbui
    Registered Users Posts: 19,839 ✭✭✭✭cnocbui


    Please go and buy Tesla shares - lots, and lots of them.


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    #2433
    Dohnjoe
    Registered Users Posts: 17,798 ✭✭✭✭Dohnjoe


    JohnnyFlash wrote: »
    I’m going to make a price prediction. Bitcoin is going to dump hard this week. Massive amount of open longs on Bitmex, Binance, and even a few on Bitfinex (!). Time for Arthur and the lads to clear them out.

    What's your price prediction for end of week?

    Also, why aren't you shorting it?


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    #2434
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Balls deep at this stage.

    Serious wall at $9500

    Fact we haven't dropped back below 200 ma after a week makes me bullish af.


    Buying the wall to weaken it personally.

    I think if we see $9700 we'll see $10,000 less than a day later.


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    #2435
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    I'm holding off before it breaks the resistance of $9500 before diving back in to a long, at moment its in a no trade zone for me

    I've got a couple of small buy orders in for fractions if it drops lower, some have already been triggered last few days with the wicks

    Dont think we're far off a burst upwards but holding fire until the breakthrough, then we off to the races

    Read yesterday the halving date could be earlier aswell by a week or so

    Also mentioned it here a few months ago about ICON (ICX), up nearly 200% since new year, that one and ADA are IMO ones that could have big gains this year


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    #2436
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Lex Luthor wrote: »
    I'm holding off before it breaks the resistance of $9500 before diving back in to a long, at moment its in a no trade zone for me

    I've got a couple of small buy orders in for fractions if it drops lower, some have already been triggered last few days with the wicks

    Dont think we're far off a burst upwards but holding fire until the breakthrough, then we off to the races

    Read yesterday the halving date could be earlier aswell by a week or so

    Also mentioned it here a few months ago about ICON (ICX), up nearly 200% since new year, that one and ADA are IMO ones that could have big gains this year

    Do you HODL or just trade?


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    #2437
    el diablo
    Registered Users Posts: 5,746 ✭✭✭el diablo


    What is Bitscoin?

    ynhh1yfqpqe41.jpg

    We're all in this psy-op together.🤨



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    #2438
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    Addison Fancy Macrame wrote: »
    Do you HODL or just trade?

    Both

    I’ve got 5-6 different bags I’m hodling for now but try to trade the odd time

    ICON up 50+% in last 24hrs

    That’s the holiday paid for


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    #2439
    cnocbui
    Registered Users Posts: 19,839 ✭✭✭✭cnocbui


    el diablo wrote: »
    What is Bitscoin?

    I'm not sure, but that leaves a bad taste in my mouth.


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    #2440
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    cnocbui wrote: »
    Please go and buy Tesla shares - lots, and lots of them.

    too late now to buy them after that big pump, hold off until the fomo cools off and it has a pull back


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    #2441
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    4449a5cb231da925e77f9bae6434f169.png

    Tesla 2019 in white vs BTC 2017 in red :-)


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    #2442
    cnocbui
    Registered Users Posts: 19,839 ✭✭✭✭cnocbui


    Lex Luthor wrote: »
    too late now to buy them after that big pump, hold off until the fomo cools off and it has a pull back

    You are missing the point.


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    #2443
    maninasia
    Registered Users Posts: 4,616 ✭✭✭maninasia


    Anybody else starting using DeFi apps. I have and it's easy as pie. I got Dai from Eth collateral and then use it to buy more Eth. Many just use Eth to get Maker and earn interest.
    The interest rate is about 8-9% per year so I think it's a very reasonable betusing my existing crypto investment without putting more cash in.

    Using Ethereum network for DeFi has made me incredibly bullish. It's fast and very cheap to do all the transactions. It's a way better experience than using bitcoin.

    Anybody else using DeFi apps ?


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    #2444
    Shamo
    Registered Users Posts: 801 ✭✭✭Shamo


    maninasia wrote: »
    Anybody else starting using DeFi apps. I have and it's easy as pay. I got Dai from Eth collateral and then use it to buy more Eth. Many just use Eth to get Maker and earn interest.
    The interest rate is about 8-9% per year so I think it's a very reasonable betusing my existing crypto investment without putting more cash in.

    Using Ethereum network for DeFi has made me incredibly bullish. It's fast and very cheap to do all the transactions. It's a way better experience than using bitcoin.

    Anybody else using DeFi apps ?

    Not DeFi exactly but I used Celsius for about a year to earn interest on 90% of my portfolio in crypto. Recently withdrew it though as the interest rates dropped so much it wasn't worth it.
    I'm pretty sure the likes of Celsius lend out the deposited crypto to short sellers so it makes sense that more recently the interest in shorting has dropped.

    DeFi is a great use case for Ethereum though and i'm waiting for multi-collateral DAI to allow more token options for deposit.


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    #2445
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Also thinking DeFi is looking like a strong use case for Ethereum and should increase its popularity in the short to medium term. I believe the Ethereum network is close to saturation though and this is something which needs to be sorted to unleash the full potential.


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    #2446
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Shamo wrote: »
    Not DeFi exactly but I used Celsius for about a year to earn interest on 90% of my portfolio in crypto. Recently withdrew it though as the interest rates dropped so much it wasn't worth it.

    I know rates dropped significantly (and they are keeping the best rates for people who are staking their own CEL token), but when you say it wasn’t worth it anymore what do you mean? You reverted to self-storage thinking the reward was not worth the risk or you moved to another crypto lending platform?

    I think think the idea of Celsius (or Crypto.com earn, BlockFi, etc) is pretty neat. But I do wonder about the sustainability of decent rate. I could be wrong but I tend to think the potential supplier of lenders is a good bit larger than the potential supply of secure borrowers; which in the long run should push rates to the bottom.


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    #2447
    Shamo
    Registered Users Posts: 801 ✭✭✭Shamo


    Bob24 wrote: »
    I know rates dropped significantly (and they are keeping the best rates for people who are staking their own CEL token), but when you say it wasn’t worth it anymore what do you mean? You reverted to self-storage thinking the reward was not worth the risk or you moved to another crypto lending platform?

    Reverted to self-storage holding the private keys again. Below 3% apr I didn't think the risk was worth it (exit scam, hack etc).


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    #2448
    maninasia
    Registered Users Posts: 4,616 ✭✭✭maninasia


    Bob24 wrote: »
    Also thinking DeFi is looking like a strong use case for Ethereum and should increase its popularity in the short to medium term. I believe the Ethereum network is close to saturation though and this is something which needs to be sorted to unleash the full potential.

    Its still very fast at the moment and quite cheap , 10 cents for large amounts , hopefully the protocol improvements keep up.

    In the future I hope I can just lock up eth for staking and earn a good return as well as appreciating asset.


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    #2449
    Dohnjoe
    Registered Users Posts: 17,798 ✭✭✭✭Dohnjoe


    Expecting a down-turn, but glad to see gains are holding and alts are still popping, a lot of potential in what is still a bearish/v cautious market at the moment


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    #2450
    maninasia
    Registered Users Posts: 4,616 ✭✭✭maninasia


    I see excellent signs of life . DeFi is going to power Eth development and usage forward . Makerdao is massive . Usage is the key. I don't use it for interest but speculation, if interest rates drop I can borrow even cheaper. If interest rates go up folks get more returns on their assets, it's all good.

    Medium term I'm very bullish. Iota also looks good to me as they test goshimmer (beta coordicide).


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    #2451
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Nice to see discussion of DeFi. I've been trying to put the time aside to investigate it in more detail. My concern is surrounding risk/security. Smart contracts are very new - a hack could cause mayhem.

    However, there are still very good rates to be found as per this -> LINK

    Are those rates sustainable?


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    #2452
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    While not technically DeFi, I think overall Crypto.com is the best of terms of rates. Especially if you stake some of their own token (MCO) and go for 3 months deposits.

    The question is: are they really making the money to pay those rates or are they subsided to attract users? (I have seen the CEO of Celsius Network accusing them of having unsustainable rates a few times)

    And on slightly different note, stablecoin lending could also become an attractive use case and a bridge to crypto. Many crypto-lending services seem to be able to offer circa 8% yield to people depositing stablecoins, which could attract people who don’t trust/know bitcoin or ether, but might be paying attention when told they can get 8% return on a financial asset backed by a fiat currency they know and trust (and then they might look into real cryptos).


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    #2453
    maninasia
    Registered Users Posts: 4,616 ✭✭✭maninasia


    Bob24 wrote: »
    While not technically DeFi, I think overall Crypto.com is the best of terms of rates. Especially if you stake some of their own token (MCO) and go for 3 months deposits.

    The question is: are they really making the money to pay those rates or are they subsided to attract users? (I have seen the CEO of Celsius Network accusing them of having unsustainable rates a few times)

    And on slightly different note, stablecoin lending could also become an attractive use case and a bridge to crypto. Many crypto-lending services seem to be able to offer circa 8% yield to people depositing stablecoins, which could attract people who don’t trust/know bitcoin or ether, but might be paying attention when told they can get 8% return on a financial asset backed by a fiat currency they know and trust (and then they might look into real cryptos).

    I think there's a lot of demand for dai right now because many are using it crypto speculation in a rising market . You can get your loan in dai , use it to purchase BTC and ETH or whatever and you hope your assets rise against it. There's no end date for the loans


    You can see the rates here for borrowing. They would not be high without the demand.

    https://loanscan.io/borrow

    I assume this is why the interest rate is high.There is plenty of speculation so folks like myself are willing to pay depositors a nice interest rate for their stable coin 'caah'. I already invested enough real cash in crypto now I will just take part of my crypto holdings as backing for leverage . Something like ten per cent of total portfolio is fine with me.

    Of course there could be lots of other reasons too.
    Some of us live in places that's it hard to get loans , temporary loans backed by crypto collateral can be handy.


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    #2454
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    maninasia wrote: »
    I assume this is why the interest rate is high.There is plenty of speculation so folks like myself are willing to pay depositors a nice interest rate for their stable coin 'caah'. I already invested enough real cash in crypto now I will just take part of my crypto holdings as backing for leverage . Something like ten per cent of total portfolio is fine with me.

    Yes I think this makes sense currently.

    However while margin trading is already standard practise and widely available on many exchanges (which are using crypto lending platforms as a source for liquidity), I might be wrong but I think the proportion of users who are aware of and/or are using crypto lending platforms for deposits is still very small. Once everyone with funds on an exchange or with a custodian realises they can get some yield for it without taking much more risk (combined to some people possibly moving part of their holdings out of cold storage to get some yield in exchange for the risk), there could be a massive increase in supply without demand increasing as fast.

    Again, this is just me thinking and I could be underestimating the potential for increased demand - but as it stands I don’t see it being as strong as supply.


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    #2455
    stockshares
    Registered Users Posts: 2,758 ✭✭✭stockshares


    This is considered the main resource for Defi info.
    https://defipulse.com/

    Check the Defi List on top of the websites home page which lists all the main options for Defi currently.

    If you need to compare Interest Rates click on Earn Income.

    Compound is probably the best option for Decentralised Finance using Crypto as Collateral.

    An option for Centralised Finance using Crypto as Collatersl is Nexo.

    It might be a good idea to start a new thread about Defi only. It's the one area that should thrive if Crypto becomes mainstream.


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    #2456
    maninasia
    Registered Users Posts: 4,616 ✭✭✭maninasia


    stockshares wrote: »
    This is considered the main resource for Defi info.
    https://defipulse.com/

    Check the Defi List on top of the websites home page which lists all the main options for Defi currently.

    If you need to compare Interest Rates click on Earn Income.

    Compound is probably the best option for Decentralised Finance using Crypto as Collateral.

    An option for Centralised Finance using Crypto as Collatersl is Nexo.

    It might be a good idea to start a new thread about Defi only. It's the one area that should thrive if Crypto becomes mainstream.

    They don't have some decentralised dapps listed such as Aave. Good list and info overall though , I have used that site.


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    #2457
    Grumpypants
    Registered Users Posts: 7,769 ✭✭✭Grumpypants


    No crash today. Green all over.


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    #2458
    stockshares
    Registered Users Posts: 2,758 ✭✭✭stockshares


    maninasia wrote: »
    They don't have some decentralised dapps listed such as Aave. Good list and info overall though , I have used that site.

    Hadn't heard of Aave. Looked at their site and it seems very similar to Compound.

    Many of the Defi sites need people to connect to their site using Metamask. Does anyone know if there are risks with Metamask?


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    #2459
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    There’s life left in her yet


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    #2460
    Grumpypants
    Registered Users Posts: 7,769 ✭✭✭Grumpypants


    Consistent progress. Nothing that would trigger the media frenzy which is good. I'd much prefer a slow and steady approach. .......but i wouldn't say no to another 2000% jump in three months :


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    #2461
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Grumpypants wrote: »
    Consistent progress. Nothing that would trigger the media frenzy which is good. I'd much prefer a slow and steady approach. .......but i wouldn't say no to another 2000% jump in three months :

    Agree, although I would add that with BTC up 30% in the past 30 days, *if* that pace is sustained for another while IMO it will trigger that media frenzy. Maybe a bit of consolidation would be a good thing at this stage ...


This discussion has been closed.
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