BITCOIN

aaj123

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Since this is a savings forum and we talk interest rates, I hope folks are aware that with ETH, you can actually get a staking yield of roughly 4.5% (importantly denominated in ETH). There are a few different ways of doing this each with pros and cons but that's a whole separate discussion.

The appeal then being that you have an asset with a high potential upside alongwith a regular yield too. Not something typically seen in the traditional investment universe.

As always applicable, do your own research. There is a huge amount one can learn about ETH and which will influence your comfort level.

Who is the borrower and how do you establish their creditworthiness?

There is no borrower. Its the protocol itself paying you through new issuance for the service of you staking your eth. In that sense, it is zero risk. Well, as long as you trust the open source ETH protocol itself. Depending on the way you stake, there are some other risks to consider but really that is too complex a topic to cover on an MSE savings forum.

https://ethereum.org/en/staking/

And if you were gonna point out that new issuance implies dilution of the supply, then you'd be interested in knowing that infact ETH is net deflationary in supply due to transaction fees getting burnt.

https://ultrasound.money/

Yes, it is a rabbit hole that needs discovered.

So they could offer any rate of interest they want since they are paying you in their own monopoly money. Charles Ponzi did the same thing. More recently, OlympusDAO had a similar "nobody sell and we'll all get rich" message.

Ethereum supply appears to increase by about 10% year on year although this has levelled off and only 2% this year. Still expanding not contracting, though.

Clearly you have no idea about this matter and jump to off the cuff ideas. If I started explaining to you about the Merge and what drastically changed in Sep last year for eth, that would be totally off topic for this forum. 

Either do research or just cope by convincing yourself of the Ponzi theory. That has worked just fine for all us crypto folk all these years. 

Johnjdc

aaj123 said:

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Since this is a savings forum and we talk interest rates, I hope folks are aware that with ETH, you can actually get a staking yield of roughly 4.5% (importantly denominated in ETH). There are a few different ways of doing this each with pros and cons but that's a whole separate discussion.

The appeal then being that you have an asset with a high potential upside alongwith a regular yield too. Not something typically seen in the traditional investment universe.

As always applicable, do your own research. There is a huge amount one can learn about ETH and which will influence your comfort level.

Who is the borrower and how do you establish their creditworthiness?

There is no borrower. Its the protocol itself paying you through new issuance for the service of you staking your eth. In that sense, it is zero risk. Well, as long as you trust the open source ETH protocol itself. Depending on the way you stake, there are some other risks to consider but really that is too complex a topic to cover on an MSE savings forum.

https://ethereum.org/en/staking/

And if you were gonna point out that new issuance implies dilution of the supply, then you'd be interested in knowing that infact ETH is net deflationary in supply due to transaction fees getting burnt.

https://ultrasound.money/

Yes, it is a rabbit hole that needs discovered.

So they could offer any rate of interest they want since they are paying you in their own monopoly money. Charles Ponzi did the same thing. More recently, OlympusDAO had a similar "nobody sell and we'll all get rich" message.

Ethereum supply appears to increase by about 10% year on year although this has levelled off and only 2% this year. Still expanding not contracting, though.

Clearly you have no idea about this matter and jump to off the cuff ideas. If I started explaining to you about the Merge and what drastically changed in Sep last year for eth, that would be totally off topic for this forum. 

Either do research or just cope by convincing yourself of the Ponzi theory. That has worked just fine for all us crypto folk all these years. 

How well did it work for the people who stored their ETH in an FTX account? Or Quadriga? Or Bitfinex?

How is it going for people who bought ETH for £3,500 in November 2021 and now see it worth £1,300? It'll take a lot of 4.5% a year to make up for that, won't it?

Ponzis do work fine until they don't, that's sort of the point.

aaj123

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Since this is a savings forum and we talk interest rates, I hope folks are aware that with ETH, you can actually get a staking yield of roughly 4.5% (importantly denominated in ETH). There are a few different ways of doing this each with pros and cons but that's a whole separate discussion.

The appeal then being that you have an asset with a high potential upside alongwith a regular yield too. Not something typically seen in the traditional investment universe.

As always applicable, do your own research. There is a huge amount one can learn about ETH and which will influence your comfort level.

Who is the borrower and how do you establish their creditworthiness?

There is no borrower. Its the protocol itself paying you through new issuance for the service of you staking your eth. In that sense, it is zero risk. Well, as long as you trust the open source ETH protocol itself. Depending on the way you stake, there are some other risks to consider but really that is too complex a topic to cover on an MSE savings forum.

https://ethereum.org/en/staking/

And if you were gonna point out that new issuance implies dilution of the supply, then you'd be interested in knowing that infact ETH is net deflationary in supply due to transaction fees getting burnt.

https://ultrasound.money/

Yes, it is a rabbit hole that needs discovered.

So they could offer any rate of interest they want since they are paying you in their own monopoly money. Charles Ponzi did the same thing. More recently, OlympusDAO had a similar "nobody sell and we'll all get rich" message.

Ethereum supply appears to increase by about 10% year on year although this has levelled off and only 2% this year. Still expanding not contracting, though.

Clearly you have no idea about this matter and jump to off the cuff ideas. If I started explaining to you about the Merge and what drastically changed in Sep last year for eth, that would be totally off topic for this forum. 

Either do research or just cope by convincing yourself of the Ponzi theory. That has worked just fine for all us crypto folk all these years. 

How well did it work for the people who stored their ETH in an FTX account? Or Quadriga? Or Bitfinex?

How is it going for people who bought ETH for £3,500 in November 2021 and now see it worth £1,300? It'll take a lot of 4.5% a year to make up for that, won't it?

Ponzis do work fine until they don't, that's sort of the point.

OK cool. Stay poor. But doesn't matter, it was a ponzi so wouldn't be your fault and the good lord will give you goodies for your esteemed rationality. 

Johnjdc

aaj123 said:

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Since this is a savings forum and we talk interest rates, I hope folks are aware that with ETH, you can actually get a staking yield of roughly 4.5% (importantly denominated in ETH). There are a few different ways of doing this each with pros and cons but that's a whole separate discussion.

The appeal then being that you have an asset with a high potential upside alongwith a regular yield too. Not something typically seen in the traditional investment universe.

As always applicable, do your own research. There is a huge amount one can learn about ETH and which will influence your comfort level.

Who is the borrower and how do you establish their creditworthiness?

There is no borrower. Its the protocol itself paying you through new issuance for the service of you staking your eth. In that sense, it is zero risk. Well, as long as you trust the open source ETH protocol itself. Depending on the way you stake, there are some other risks to consider but really that is too complex a topic to cover on an MSE savings forum.

https://ethereum.org/en/staking/

And if you were gonna point out that new issuance implies dilution of the supply, then you'd be interested in knowing that infact ETH is net deflationary in supply due to transaction fees getting burnt.

https://ultrasound.money/

Yes, it is a rabbit hole that needs discovered.

So they could offer any rate of interest they want since they are paying you in their own monopoly money. Charles Ponzi did the same thing. More recently, OlympusDAO had a similar "nobody sell and we'll all get rich" message.

Ethereum supply appears to increase by about 10% year on year although this has levelled off and only 2% this year. Still expanding not contracting, though.

Clearly you have no idea about this matter and jump to off the cuff ideas. If I started explaining to you about the Merge and what drastically changed in Sep last year for eth, that would be totally off topic for this forum. 

Either do research or just cope by convincing yourself of the Ponzi theory. That has worked just fine for all us crypto folk all these years. 

How well did it work for the people who stored their ETH in an FTX account? Or Quadriga? Or Bitfinex?

How is it going for people who bought ETH for £3,500 in November 2021 and now see it worth £1,300? It'll take a lot of 4.5% a year to make up for that, won't it?

Ponzis do work fine until they don't, that's sort of the point.

OK cool. Stay poor. But doesn't matter, it was a ponzi so wouldn't be your fault and the good lord will give you goodies for your esteemed rationality. 

Oh my life. I haven't seen a crypto bro use the "stay poor" meme in the wild since the whole thing started collapsing. Crypto bros are getting poor. I'd get out of the monopoly money scam while there is still time. The asset has no terminal value, no use value, and no yield. Its objective value is £0 and the only way it can stay above that is by each sucker finding a bigger sucker to unload to - and you're running out of suckers.

For what it's worth in the time since ETH started falling up to today when it's down around 66%, I'm up 19%.

aaj123

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Johnjdc said:

aaj123 said:

Since this is a savings forum and we talk interest rates, I hope folks are aware that with ETH, you can actually get a staking yield of roughly 4.5% (importantly denominated in ETH). There are a few different ways of doing this each with pros and cons but that's a whole separate discussion.

The appeal then being that you have an asset with a high potential upside alongwith a regular yield too. Not something typically seen in the traditional investment universe.

As always applicable, do your own research. There is a huge amount one can learn about ETH and which will influence your comfort level.

Who is the borrower and how do you establish their creditworthiness?

There is no borrower. Its the protocol itself paying you through new issuance for the service of you staking your eth. In that sense, it is zero risk. Well, as long as you trust the open source ETH protocol itself. Depending on the way you stake, there are some other risks to consider but really that is too complex a topic to cover on an MSE savings forum.

https://ethereum.org/en/staking/

And if you were gonna point out that new issuance implies dilution of the supply, then you'd be interested in knowing that infact ETH is net deflationary in supply due to transaction fees getting burnt.

https://ultrasound.money/

Yes, it is a rabbit hole that needs discovered.

So they could offer any rate of interest they want since they are paying you in their own monopoly money. Charles Ponzi did the same thing. More recently, OlympusDAO had a similar "nobody sell and we'll all get rich" message.

Ethereum supply appears to increase by about 10% year on year although this has levelled off and only 2% this year. Still expanding not contracting, though.

Clearly you have no idea about this matter and jump to off the cuff ideas. If I started explaining to you about the Merge and what drastically changed in Sep last year for eth, that would be totally off topic for this forum. 

Either do research or just cope by convincing yourself of the Ponzi theory. That has worked just fine for all us crypto folk all these years. 

How well did it work for the people who stored their ETH in an FTX account? Or Quadriga? Or Bitfinex?

How is it going for people who bought ETH for £3,500 in November 2021 and now see it worth £1,300? It'll take a lot of 4.5% a year to make up for that, won't it?

Ponzis do work fine until they don't, that's sort of the point.

OK cool. Stay poor. But doesn't matter, it was a ponzi so wouldn't be your fault and the good lord will give you goodies for your esteemed rationality. 

Oh my life. I haven't seen a crypto bro use the "stay poor" meme in the wild since the whole thing started collapsing. Crypto bros are getting poor. I'd get out of the monopoly money scam while there is still time. The asset has no terminal value, no use value, and no yield. Its objective value is £0 and the only way it can stay above that is by each sucker finding a bigger sucker to unload to - and you're running out of suckers.

For what it's worth in the time since ETH started falling up to today when it's down around 66%, I'm up 19%.

We think more than a year or two, you know? And gone through more crypto cycles than may be one...But its okay, gush with your 19% for now.

And meanwhile lol at someone parroting such strong views after initially asking a question like 'How do you assess the creditworthiness of the borrower during ETH staking'!! The confidence is worth praising if anything...

Malthusian

aaj123 said:

And meanwhile lol at someone parroting such strong views after initially asking a question like 'How do you assess the creditworthiness of the borrower during ETH staking'!! The confidence is worth praising if anything...

Isn't it hilarious? It's like someone confidently asserting that there is no God when they don't even know the difference between transubstantiation and consubstantiation!

aaj123

Malthusian said:

aaj123 said:

And meanwhile lol at someone parroting such strong views after initially asking a question like 'How do you assess the creditworthiness of the borrower during ETH staking'!! The confidence is worth praising if anything...

Isn't it hilarious? It's like someone confidently asserting that there is no God when they don't even know the difference between transubstantiation and consubstantiation!

About as hilarious as smartasses jumping into a crypto discussion and shouting 'ponzi' instead of just not participating if it ain't what they like or if it ain't something they understand.

phillw

aaj123 said:
We think more than a year or two, you know? 

Bitcoin is being propped up by people buying the dip, it raises the price and then people sell off to the next bag holder & it drops again.

aaj123

phillw said:

aaj123 said:
We think more than a year or two, you know? 

Bitcoin is being propped up by people buying the dip, it raises the price and then people sell off to the next bag holder & it drops again.

Continue with that thinking. Will serve you well.

Malthusian

aaj123 said:

About as hilarious as smartasses jumping into a crypto discussion and shouting 'ponzi' instead of just not participating if it ain't what they like or if it ain't something they understand.

A crypto discussion on a forum called "MoneySavingExpert Savings & Investments". This ain't the echo chamber you're looking for.

17 March 2021 at 7:40AM edited 17 March 2021 at 2:14PM (BTC price: c. £55,000)
And don't point to temporary 80% dips because no Bitcoin holder has lost over holding periods of two or three years or more. Few understand this. 
Btw I am going to post again to this thread by end of this year about why you skeptics once again missed the boat from even this point onwards. Yeah - because BItcoin is gonna do another 5x from current price to around $300K. Am I naive ( or are Joe public clueless about Bitcoin)? We will see.

Few understand indeed.