BITCOIN

lozzy1965

Scottex99 said:

Who could have guessed that someone as well named as SAFEMOON could actually lead to you losing money.

Mine are on Pancake Swap, I'll see what I can do with them later

I don't know what Pancake Swap is, but I love that you can criticise the name "SafeMoon" and then - apparently seriously - mention that in your next sentence!

silvercue

lozzy1965 said:

Scottex99 said:

Who could have guessed that someone as well named as SAFEMOON could actually lead to you losing money.

Mine are on Pancake Swap, I'll see what I can do with them later

I don't know what Pancake Swap is, but I love that you can criticise the name "SafeMoon" and then - apparently seriously - mention that in your next sentence!

Pancake swap is a Decentralised Exchange (DEX).  They are very serious, despite the names!

Scottex99

lozzy1965 said:

Scottex99 said:

Who could have guessed that someone as well named as SAFEMOON could actually lead to you losing money.

Mine are on Pancake Swap, I'll see what I can do with them later

I don't know what Pancake Swap is, but I love that you can criticise the name "SafeMoon" and then - apparently seriously - mention that in your next sentence!

Haha, hold on to your hats, it gets much weirder than that.

But yeah PS is the major DEX on Binance's Smart Chain (BSC). A good alternative to Uniswap if you want to avoid all the ERC20 gas fees. But maybe not the source of the most legit projects. I use their liquidity pools to farm CAKE. Have also bought into a few BSC projects, most of which have gone to 0, probably.

I'm winding down some of my pools recently as APY has been dropping over time but I still put my CAKE in the AutoCaker, c.70% APY for that.

If CAKE starts dumping I'll probably flip some of it into BNB and get it back on to Binance...

silvercue

Haha, hold on to your hats, it gets much weirder than that.

But yeah PS is the major DEX on Binance's Smart Chain (BSC). A good alternative to Uniswap if you want to avoid all the ERC20 gas fees. But maybe not the source of the most legit projects. I use their liquidity pools to farm CAKE. Have also bought into a few BSC projects, most of which have gone to 0, probably.

I'm winding down some of my pools recently as APY has been dropping over time but I still put my CAKE in the AutoCaker, c.70% APY for that.

If CAKE starts dumping I'll probably flip some of it into BNB and get it back on to Binance...

I avoid everything on ERC20 due to the insane fees.  I will be jumping on board Sundaeswap when it goes Live (soon) on Cardano network..

The opportunities for passive income from Crypto are incredible right now.   The problem is in the UK they have decided to tax stake rewards, yield profits and other "earn" profits as Income and not Capital Gains.  Frustrating.  

[Deleted User]

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

Scottex99

Yep I'm not sure exactly how to account for the earn although I'm based in Gibraltar so it doesn't really matter as no CGT. Not sure if Gib is classing it as income though.

I'll have a look at Sundaeswap but I dont overly rate ADA as a project. Did well on it and dumped a decent bag near $3 but I dont think any good smart contracts will ever materialise and it certainly wont be an "ETH killer".

Trader Joes is pretty cool and Avalanche seems to be very fast and cheap

Section62

[Deleted User] said:

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

How many of these "MSE 'veterans'" are millionaires who can afford to take that level of risk with their assets?

Criticising other people for taking a different approach to saving/investing is unfair, if you have no idea what their financial circumstances are.

bugbyte_2

There appears to be two types of crypto fans - ones that know what it is and are making a good return, and ones that are attracted to cartoons of rockets. I would suggest patent_investor falls into the 'liking pictures of dogs on the moon' category.

Scottex99

Section62 said:

[Deleted User] said:

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

How many of these "MSE 'veterans'" are millionaires who can afford to take that level of risk with their assets?

Criticising other people for taking a different approach to saving/investing is unfair, if you have no idea what their financial circumstances are.

And criticising people for having a look at something new and different is the same. Some people have written off a new asset class worth $2.2bn without any knowledge of it and thinking BTC/ETH/USDT are somehow the same thing. Nevermind DeFi/NFTs/DAOs etc etc. We don't all want to be scrambling around looking for 1% on our savings or buying premium bonds to try and avoid our money getting eroded by inflation.

Fair enough if you're 75 years old and using your dividends from Microsoft or whatever to enjoy your retirement but you don't need to be a millionaire to invest in higher risk funds or stocks. Same for crypto.

I'm the opposite of risk averse but I find it amazing that even the most cautious of investor wouldn't have a little bit of exposure to BTC/Crypto. If it dies tomorrow you lost a small amount of capital. If it it's the future of finance, you got in fairly early and may end up with generational returns 

eskbanker

Scottex99 said:

Just neatly sidestepping the 2.2tn dollar market cap of the asset class?

Scottex99 said:
Some people have written off a new asset class worth $2.2bn without any knowledge of it

A sensible move if it's lost 99.9% of its value since Thursday