Crypto - BTC & Alts

deejaybee

Coinbase were "only" paying 4% on Algo, as i was staking on there, although they did pay 6% when they initially started algo staking.

Unless it has gone back to 5% recently to try to compete with the official algo rewards ?  ( Havnt logged on my CB account for a while )

greentuber

For those in the UK, where do you store or stake your SOL. Trezor does not accept SOL.

Also interested in staking DOT and LINK.

Scottex99

Any of the major exchanges should let you do it. Binance/Kraken/KuCoin etc

My SOL and DOT are in Binance and my LINK is on Celsius I think 

greentuber

Thanks, I have an account at Binance but transferred funds and coins to Coinbase and Gemini a few months back due to UK regulation and I understand they are not allowing GBP deposits or withdrawals anymore for UK residents.

Celsius also wont let UK residents open a new account.

Zola.

Personal opinion, almost everything other than bitcoin is a centralised scam, doomed to failure.

henry11vr

Whilst I believe punks, rocks and the other high value NFTs will retain value due to historical reasons, I don't think the majority of these projects are going anywhere long term. As people on twitter keep pointing out, the 'floor' is where you can buy, not where you can sell. If liquidity dries up due to a pullback, you're going to left holding pictures that nobody wants to buy - ie. they go to zero very quickly. Also think that fractionalised NFTs, whilst interesting, are a borderline scam. The gas fees on ETH are terrible though, so I can definitely see another wave of the NFT bubble occurring on lower cost chains before the inevitable implosion. 

darren232002, I think that you're right about it. But NFT market works in almost the same way how any other market works, based on the common "demand and supply" principles. At least, I can see that on such resources like TopNFTCollections.com where true collectors can get some NFT collections for reselling them after that, or just for their own purposes.

Malthusian

henry11vr said:

darren232002, I think that you're right about it. But NFT market works in almost the same way how any other market works, based on the common "demand and supply" principles.

Not quite the same. The difference is that if demand is zero the utility (value, usefulness, fun-to-haveness) of an NFT is zero. You can't even say "at least I can still look at the artwork" because everyone with a computer can do that.
The luxury investment market (which NFTs are part of along with physical art and fine wine) has a saying "Never invest more in wine than you can afford to drink". Buying an NFT is like investing in empty wine bottles and hoping that someone will be willing to pay you more than you paid for the right to say they "own a bottle of Chateau Lafite".

lozzy1965

Posting this link here - rather than the bitcoin thread, as it is good general advice - quite a lot of the advice applies to ALL investments in fact:
https://time.com/nextadvisor/investing/cryptocurrency/is-bitcoin-safe/
(And give them some money if you find it genuinely useful - I don't work for them by the way - just stumbled across the article and thought it useful advice)

silvercue

Malthusian said:

henry11vr said:

darren232002, I think that you're right about it. But NFT market works in almost the same way how any other market works, based on the common "demand and supply" principles.

Not quite the same. The difference is that if demand is zero the utility (value, usefulness, fun-to-haveness) of an NFT is zero. You can't even say "at least I can still look at the artwork" because everyone with a computer can do that.
The luxury investment market (which NFTs are part of along with physical art and fine wine) has a saying "Never invest more in wine than you can afford to drink". Buying an NFT is like investing in empty wine bottles and hoping that someone will be willing to pay you more than you paid for the right to say they "own a bottle of Chateau Lafite".

NFTs will start to have utility.  They can tie in certain benefits to the owner.  I will be taking ownership of an NFT soon that grants me an additional 5% rewards from some crypto passive income.  I own no other NFTs, this is just a small example of some utility that can have real value as well.   

Type_45

I got an email from Coinbase yesterday saying they'd passed my details to HMRC as I was above the £5k limit.

I have not withdrawn/made any money, and my trades have not been to the £49k level, so I guess I just do nothing.


I'm tempted to phone HMRC and ask them?