Crypto - BTC & Alts

will_b

deejaybee said:

Ah i should have left a small amount of Algo in CB, to pay for sending "zero" Algo over to the wallet ( to start compounding the interest)

No need!  You can send 0 Algo from your Algorand account to itself.  Just click the "Send" button, choose "Accounts", and you can select your own account there to send the 0 Algo to

deejaybee

Great info again will - nice one !

will_b

Scottex99 said:

Yeah slow and steady is the best way and try not to FOMO too hard when you say the insane returns that some assets have done. I'm about 4 years deep now, once you fall down the rabbit hole, you'll find it very difficult to go back to traditional finance. To me trading stocks is a snoozefest now but I've become full degen and I'm young enough/making enough to handle the wild swings, which not all people would be able to.

Flash crash nuke out of nowhere this week, market potentially showing signs of recovery now

It's hard not to get sucked in I must say!  My Algo have nearly tripled in value since I bought a few months ago, and it's insane to me that that sort of return is fairly common in crypto.  It's like the stock market on steroids: stronger, faster, and much more unstable

Now I have spent a few months learning about crypto and blockchains I definitely think smart-contract blockchains will have a more and more important role to play in the future.  I suspect some day we will all be trading shares on exchanges built around smart-contract blockchains, along with many other similar such applications.  But does that justify the crazy valuations and price growth?  I'm not sure.

ISPs and web hosting are fundamental to the internet, yet we don't all go crazy buying and selling web-hosting credits as a speculative investment.  Similarly I wonder if Ethereum, Algorand, Solana might some day transition to being seen as widely-used and fairly price-stable commodities rather than shoot-to-the-moon speculative investments.  And if/when that transition occurs, the market may re-value them at much lower prices.

So my current approach is to make hay while the sun shines, cos I don't think markets with such price-growth potential come around very often (best to make the most of them!), but to aim to sock many of the gains away into global index funds, which, despite being a total snoozefest in comparison (I'm stealing your very apt description there!), do feel much safer to me as a long term investment.

Scottex99

startrim said:

Has anyone here used FTX?
I use Coinbase Pro but am looking for a backup exchange should it go down or I get locked out.

Not personally although I do have an active account I think.

Use them for some of our Corp trades and they are great, 100% legit.

deejaybee

Anyone staking COSMOS ( ATOM ) anywhere ?

Have seen mentions of 10% available at Cosmostation, but have no idea how safe they are etc,

Ta

deejaybee

Hopefully will_b is still around ?

Bit unsure how to opt in to Algorand governance ?

My Algos are in official Algo wallet, and i assumed i would be able to opt in from there, but cant see any relevant info on there ( unless it is going to be added on the start date of October 1st ?  )

Ta

will_b

deejaybee said:

Hopefully will_b is still around ?

Bit unsure how to opt in to Algorand governance ?

My Algos are in official Algo wallet, and i assumed i would be able to opt in from there, but cant see any relevant info on there ( unless it is going to be added on the start date of October 1st ?  )

Ta

The official instructions are here:

https://algorand.foundation/gov-faq

But in a nutshell you have to:
a) Get your Algo off an exchange and into your own private wallet, the Official Algorand Wallet being a good choice.  (I think you did this already.)
b) Visit a website that will become available on 1st October (I'm assuming the link above will reference it once it's available) to declare how many Algo you want to commit.  (Leave at least 1 Algo uncommitted to cover transaction fees.)
c) Send a 0 Algo transaction to verify your commitment.
d) Check for further instructions on voting or delegating your vote to the Algorand Foundation.  I understand that for the first quarter there will be only one vote for governers.  I will almost certainly delegate my vote to the Algorand Foundation because, although I am a bit of an Algorand nerd, their knowledge of what is best far exceeds mine, and they seem committed to the long term success of Algorand. 

For this first quarter I understand they are allowing registration up until the 15th October.

It will be very interesting to see how governance affects the Algo price, when supply will be reduced by so many Algo being effectively locked up for 3 months.  (Locked in the sense that you can still sell, but you will lose all governance rewards for the quarter.)  Of course the Algo price will still swing with the price of the crypto market as a whole, which is currently having a bit of a wobble, but I am hoping governance might drive another good Algo-specific pump.  We'll see 🤞🏻😊

deejaybee

Thanks again will, appreciated. Yep i have had my Algo in the official wallet for a while now..

I wonder how they will link activity on the website to our wallets ?  I guess that will all become clear tomorrow...

will_b

deejaybee said:

Thanks again will, appreciated. Yep i have had my Algo in the official wallet for a while now..

I wonder how they will link activity on the website to our wallets ?  I guess that will all become clear tomorrow...

You're welcome 😊

I understand it's all anonymous (i.e. at no point do they take a name or email) so I guess you just give your Algorand account address (the public address not the 25-word mnemonic phrase that must be kept secret), specify your intention/commitment/vote on the website and then send a zero Algo transaction to a given address to confirm that it was really you who specified that.  But yeah we will find out soon enough 😊

Hansplace

Just don't stake in coinbase as they only offer 5%.
Really lousy at 5%