MISC Crypto Crew (MCC) Vol: XII: Retirement plans and exit scams

[savageoldman]

ADA may break resistance for a run

[samsbolton]

They chased away Krown and that guy makes more in a month using TA then you'll make in your best year nomsayin'. He tried to warn plebs in here about the incoming bear back when bitcoin had just topped @ 20k because the TA was pointing strongly at it. Got chased off, then bitcoin made it's way from 15-20k down to 3k. Just lol. He made a fukload of money off that downtrend though while all the TA hating heroes got fukking hosed.


Always get a good laugh from people trashing TA like it's some kind of scammy astrology level thing though, guarantee you they've spent zero time exploring it with a open mind but they're sooooo sure they're right. sad!


Algos run the markets these days, and they trade largely based off technicals. Good luck ignoring that and doing well over time.

My grandma said to sell at 20k..

Glad we’re agreed BBMSSWW is clueless though

[BDSMBBW]

ADA may break resistance for a run

Yea. Ada long from 450 sats is working out pretty good atm. Daily closing above 550 sats would be nice.

[iifymbro]

My grandma said to sell at 20k..

Glad we’re agreed BBMSSWW is clueless though

Wasn't at 20k, it was the action that developed afterward. Bet your fake grandma couldn't have explained why you should sell at 20k, or what some high probability downside targets were, or what to look for that would invalidate the downside idea, etc etc....

honestly though wtf are you even doing in this thread? Go troll somewhere else, chit is annoying.


Also I posted this chart back on page 250 saying I was gunna margin long this area and dump fiat in....







That's a 14-18% pump so far, joocy af.

All TA really is, is you're looking for highly probable areas of demand and supply on the chart. Das it mayne.


Now we see if it's just a dead cat bounce and we get that joocy capitulation down to ~5k or not, personally I'm not convinced by this reversal yet but my bags are loaded for the long haul so no worries either way, imagine being able to buy btc at 4-5k again, hnnng

[iifymbro]

Pretty nice and classic inverse h&s + a divergence on the 4h and 8h time frames.

Weekly 7.4k area still remains broken and monthly closing soon as well. Gonna be a interesting weekly+monthly close.

I was playing it as a quasimodo cause it ran the highs coming out of the lower low there, but it was such a minor one it ended up being more of a h&s move in the end. Either way, was pretty obvious to anyone paying attention that it was building a pivot/generating liquidity for a pump.

Love me some quasimodo though, most underrated pivot in bitcoin. Can make alll kinds of money playing them.

[Parkerscott]

Anyone been paying attention to Maker and collateralized dept positions (CDP's)? Its pretty interesting once you start digging into it.

https://daistats.com/

You can also look into peoples vaults to see their collateralization ratios and liquidation prices. https://oasis.app/borrow/261

Basically this guy locked 225k BAT ($50k) into a smart contract. Once he did this he took a $22,500 DAI loan. The DAI can be used to buy more BAT or any other crypto asset. If BAT falls to $.15 he gets liquidated unless he changes his collateralization ratio by paying down debt, or adding more collateral. The interest rate on the loan is 4% apy and if it raises or lowers you can just sell or buy more depending on how the interest rate effects you.

Its pretty cool stuff. If you are going to be holding ETH or BAT in a wallet because you expect the price to go up you can collateralize it for a bigger stack and manage your risk as you see fit. In this guys case he could buy $22,500 worth of BAT and stake it on crypto.com for 6-8% apy and beat the 4% apy on the CDP assuming the interest rates stay the same. You get paid for your loan which means you get a negative interest rate of 2-4%

If the price of BAT or ETH go up you pay back all the debt and you get the interest plus the appreciated value of the tokens. If the price goes down you can add to your collateral, or pay off your debt plus the interest. Or if the price of the asset you traded DAI for goes up you can sell that off to pay down your debts.

The ceilings are also something to pay attention too. ETH is currently at a 44% utilization rate and BAT is at a 28% utilization rate. This means that when ETH hits the ceiling cap at 100% you will have to open up a BAT based CDP to mint new DAI. Once they are both at 100% they will raise the ceiling cap so more DAI can be created. 100% utilization of BAT is roughly 3% of the entire BAT supply so theres already basically 1% of BAT locked up in CDP's and that number is growing daily. If DAI becomes the new tether you could be looking at tons of CDP's with ETH,BAT and other erc-20's locked up to keep that $1 peg.

[2020Wellness]

I was playing it as a quasimodo cause it ran the highs coming out of the lower low there, but it was such a minor one it ended up being more of a h&s move in the end.

This reads like a copypasta someone made up to make fun of how ridiculous they think TAers are.

[BDSMBBW]

I was playing it as a quasimodo cause it ran the highs coming out of the lower low there, but it was such a minor one it ended up being more of a h&s move in the end. Either way, was pretty obvious to anyone paying attention that it was building a pivot/generating liquidity for a pump.

Love me some quasimodo though, most underrated pivot in bitcoin. Can make alll kinds of money playing them.

Bitmex Funding is not favoring a bearish move atm(There's a indicator called Bitmex funding and premium index by neobutane, check it out!) On Crypto twitter a lot of folks are shorting this 7.7k area.

The descending channel you posted way back in july-august is still intact and has not been broken. The top of that channel comes right at around 8.3-8.5k area.

The CME charts looks so much more cleaner than the other charts imo.



Quasimodo is a pretty new interesting pattern for me!

My only concern is the weekly S/R level @ 7.6k area had a clean break last week. This is the reason i feel weekly close will be super important. Whether this move ends up being a mid-long term recovery is hard to say atm.

Also, BTCUSDLONGS going parabolic!

[StevieSparkZ]

Anyone big on XRP atm?

[BDSMBBW]

xrp still got some more sideways imo. xrp might be a scam - but when it pumps it's one of the best scam pumps - so i watch it!

[StevieSparkZ]

xrp still got some more sideways imo. xrp might be a scam - but when it pumps it's one of the best scam pumps - so i watch it!

Fair enough, isn't Stellar better?

[BDSMBBW]

i haven't read too much into stellar - but not seeing any major buy signals on chart yet. Max pump could be ~500% - if it ever pumps. quite hard to predict when alts might do a scam pump.

WTC needs to pump 6000%+ to reach its all time peak.

most of the alts like like ETH-btc, trx,BAT, BCH etc are just stagnating/declining atm.

ADA is a interesting one to watch.

[Serenadium]

Anyone been paying attention to Maker and collateralized dept positions (CDP's)? Its pretty interesting once you start digging into it.

https://daistats.com/

You can also look into peoples vaults to see their collateralization ratios and liquidation prices. https://oasis.app/borrow/261

Basically this guy locked 225k BAT ($50k) into a smart contract. Once he did this he took a $22,500 DAI loan. The DAI can be used to buy more BAT or any other crypto asset. If BAT falls to $.15 he gets liquidated unless he changes his collateralization ratio by paying down debt, or adding more collateral. The interest rate on the loan is 4% apy and if it raises or lowers you can just sell or buy more depending on how the interest rate effects you.

Its pretty cool stuff. If you are going to be holding ETH or BAT in a wallet because you expect the price to go up you can collateralize it for a bigger stack and manage your risk as you see fit. In this guys case he could buy $22,500 worth of BAT and stake it on crypto.com for 6-8% apy and beat the 4% apy on the CDP assuming the interest rates stay the same. You get paid for your loan which means you get a negative interest rate of 2-4%

If the price of BAT or ETH go up you pay back all the debt and you get the interest plus the appreciated value of the tokens. If the price goes down you can add to your collateral, or pay off your debt plus the interest. Or if the price of the asset you traded DAI for goes up you can sell that off to pay down your debts.

The ceilings are also something to pay attention too. ETH is currently at a 44% utilization rate and BAT is at a 28% utilization rate. This means that when ETH hits the ceiling cap at 100% you will have to open up a BAT based CDP to mint new DAI. Once they are both at 100% they will raise the ceiling cap so more DAI can be created. 100% utilization of BAT is roughly 3% of the entire BAT supply so theres already basically 1% of BAT locked up in CDP's and that number is growing daily. If DAI becomes the new tether you could be looking at tons of CDP's with ETH,BAT and other erc-20's locked up to keep that $1 peg.

I posted about CDPs a while ago. It's Ethereum's best use case so far. Essentially trustless margin trading/financing.

You can:
-Collaterize your crypto and buy further positions with the DAI you receive (essentially margin trading); or
-Collaterize your crypto and cash out the dai to buy real world stuff. This eliminates your tax obligations as you are essentially taking out a loan, not trading tokens which triggers a CGT event.

I will probably use CDPs when wrapped BTCs are more of a thing.

[Parkerscott]

I posted about CDPs a while ago. It's Ethereum's best use case so far. Essentially trustless margin trading/financing.

You can:
-Collaterize your crypto and buy further positions with the DAI you receive (essentially margin trading); or
-Collaterize your crypto and cash out the dai to buy real world stuff. This eliminates your tax obligations as you are essentially taking out a loan, not trading tokens which triggers a CGT event.

I will probably use CDPs when wrapped BTCs are more of a thing.

I just set one up a few hours ago. Super easy to do, and you can even see it here https://oasis.app/borrow/1757

You can easily adjust your risk tolerance also. Could lower the liquidation price to $.08 which BAT has never touched.

Could see it taking over tether and making a really strong case for ETH. It would be cool to be able to collateralize physical assets like car titles and stuff too lol

[iifymbro]

This reads like a copypasta someone made up to make fun of how ridiculous they think TAers are.

yeah someone had a sense of humor when they came up with the nickname. Made thousands playing this one though and I missed a few of the moves due to being asleep, so I'm happy to be laughed at by non-TA brahs while I'm laughing all the way to the bank nomsayin'

https://www.profitf.com/articles/for...ver-and-under/

[johnnyboi123]

just dump to 4800 and get it over with. This **** is a joke.

[StevieSparkZ]

just dump to 4800 and get it over with. This **** is a joke.

Are your bags full already johnnyboi123 or are you looking to load up when BTC is much lower?

Personally, I want a low BTC so that I may load up.

Also, I've been following this guy on YouTube for a bit.

It's on "3 things that need to happen for new lows" for BTC.

[PimpMasterC]

Feeling very comfy being 90% in XTZ. You guys should try it, it´s warm over in this pool

[Grinners]

For anyone interested; the author of 'An (Institutional) Investor’s Take on Cryptoassets' (John Pfeffer) ********************/john-pfeffer/an-i...s-690421158904 recently did a podcast discussing this piece:

https://castleisland.libsyn.com/john-pfeffer-ep21

If you haven't read his article, I'd highly recommend it, PDF here: https://s3.eu-west-2.amazonaws.com/j...oassets+v6.pdf and I enjoyed the podcast as well.

[Grinners]

Fair enough, isn't Stellar better?

Stellar is a fork of Ripple. 'Re-Coded' in 2015 to attempt to gain some legitimacy.

"At launch, Stellar was based on the Ripple protocol. After making several changes to critical consensus code, the Stellar network forked. In the aftermath, Stellar co-founder Joyce Kim claimed[26] this was a flaw in the Ripple protocol but this statement was challenged in a blog post by Ripple Labs CTO, Stefan Thomas."

"The Stellar Development Foundation then created an updated version of the protocol with a new consensus algorithm, based on entirely new code. The code and whitepaper for this new algorithm were released in April 2015, and the upgraded network went live in November 2015"

[StevieSparkZ]

Stellar is a fork of Ripple. 'Re-Coded' in 2015 to attempt to gain some legitimacy.

"At launch, Stellar was based on the Ripple protocol. After making several changes to critical consensus code, the Stellar network forked. In the aftermath, Stellar co-founder Joyce Kim claimed[26] this was a flaw in the Ripple protocol but this statement was challenged in a blog post by Ripple Labs CTO, Stefan Thomas."

"The Stellar Development Foundation then created an updated version of the protocol with a new consensus algorithm, based on entirely new code. The code and whitepaper for this new algorithm were released in April 2015, and the upgraded network went live in November 2015"

Damn, Stellar is to Ripple as Bitcoin Cash is to Bitcoin.

[Grinners]

Damn, Stellar is to Ripple as Bitcoin Cash is to Bitcoin.

And made by the same guy (Jed McCaleb) who:

*Created Mt.Gox
*'Lost' 80,000 bitcoin from customers of Mt Gox.
*'Lost' his Mt.Gox private access key giving access to an unknown hacker.
*Founded Ripple
*Lost the first 32,570 blocks of Ripple (now known as XRP).
*Left Ripple to start Stellar, tried to dump all his XRP on bagholders.
*Was sued by Ripple.
*Settled with an agreement of how much of his 5,000,000,000 Ripple he can sell.

I'd avoid anything he touches at all costs...Or at least do so knowing that in all likelyhood, anything he is inolved with is a pump and dump scheme.

[Serenadium]

And made by the same guy (Jed McCaleb) who:

I'd avoid anything he touches at all costs...Or at least do so knowing that in all likelyhood, anything he is inolved with is a pump and dump scheme.

I'd avoid Stellar completely because of its consensus mechanism (Federated Byzantine Agreement).

1. What is the incentive to secure the network?, validator nodes do not receive any monetary incentives. There is also no POW/POS component where people are incentivized to secure the network for a monetary reward.

2. Decentralization of quorom slices (quorum slices are grouped validator nodes, all quorom slices overlap in the Stellar network). There is no incentive to do so, and the three most influential validator nodes by far are controlled by the Lumens foundation (refer chart with the 3 big circles in the link https://arxiv.org/pdf/1904.13302.pdf).

3. Cascading failure. The dependency on recognized validator nodes essentially makes the network centralised (see above). Failure of one or multiple influential validator nights will 'cascade' and trigger a gradual failure of the entire network. (also listed here https://arxiv.org/pdf/1904.13302.pdf)

4. No work/resources consumed to secure the network. Cost of a resource consuming consensus mechanism (PoW mining) is irretrievably sunk and accumulates in the ledger. Immutability carries immense value and I question how this can be achieved with FBA. An excellent discussion of the sunk costs in terms of energy expended and hardware purchased is discussed in the medium article work is timeless, stake is not by Hugo Nguyen. BB wont let me put link.

[ghostfacedup]

Anyone claiming Hex? the Richard Heart project

[jamalfudge]

Cloud mining website I use has a secret promotion they just emailed members to tell friends/family.

AltMiner247.com

No purchase or money. Just need a fresh email and they will give you $5 worth of bitcoin as it mines.

Then you can withdraw/sell or whateva. Just hold until the next big move up and it can be worth much more. Maybe even hundreds.


To redeem you must send your "user ID" in the subject line to support@altminer247.com with "cyber monday promo week" in message.


All I ask you bros is to take me out of the red

Log into your main account and I'll neg that one too.

[Parkerscott]

ETH utilization at 83% and BAT utilization at 44%

Maker CDP's are going crazy!

[savageoldman]

FET for the traders

main net sometime this month, strong monthly chart

[FrankCostanza]

FET for the traders

main net sometime this month, strong monthly chart

main net for? FET?

[FrankCostanza]

ETH utilization at 83% and BAT utilization at 44%

Maker CDP's are going crazy!

what does that mean?

[Parkerscott]

what does that mean?

A CDP is a collateralized debt position. I take $10,000 worth of BAT, lock it in a smart contract and get an extra $3,500 worth of DAI that I buy BAT or another asset with. I now have $13,500 worth of BAT and pay a 4% fee each year for interest. I can pay down the debt anytime or raise my collateralization ratio. So in this situation my collateralization ratio would be roughly around 280% and BAT would have to fall to $.11 for me to get liquidated. In the event of liquidation which is when the collateralization falls below 150% you pay back the debt and are hit with something like a 13% liquidation fee. In this scenario though i can pay back the debt at anytime to lower the ratio or take that extra $3,500 worth of BAT and throw it at the collateralization which brings the ratio towards something a little over 300% and a liquidation price of around probably $0.09

It sounds complicated, but once you figure it out and actually create a CDP its a pretty easy process.

The utilization rates of CDP's are also hitting their caps which means maker has to raise the caps on how much dai can be minted from CDP's

Nearly $1.5m for BAT and $46m from ETH

https://daistats.com/