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Master Thread tfsf/cryptostreetbets

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ChicagoFats

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Michael Saylor - the most aggressive BTC maxmialist that I have heard of is not worried about the BTC price drop.


 

Zgdaf

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Michael Saylor - the most aggressive BTC maxmialist that I have heard of is not worried about the BTC price drop.


Yes.. everyone should have a HODL amount and not look at the price.
Then with the other amount, go thru the process of thinking you can read charts, trade, invest some in risky cryptos…. Eventually realize not to be deterministic on time frames and settle in a few coins by dca into the market.

Btw, Michael Sailor probably came closer than he will publicly admit to a margin call. He’s thought thru every scenario, so he might have a revenue resource to negotiate his way out if the priced drops enough for a margin call.
 

Croot_Overlord

John
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Yes.. everyone should have a HODL amount and not look at the price.
Then with the other amount, go thru the process of thinking you can read charts, trade, invest some in risky cryptos…. Eventually realize not to be deterministic on time frames and settle in a few coins by dca into the market.

Btw, Michael Sailor probably came closer than he will publicly admit to a margin call. He’s thought thru every scenario, so he might have a revenue resource to negotiate his way out if the priced drops enough for a margin call.
You’ve been in the game a long time haven’t you? You have a very strong and realistic understanding of all of this.

BTW I was scanning through the pictures on my phone and came across the one with you me, @Chris Farley and @Rebarcock.
 

Zgdaf

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@Zgdaf @ChicagoFats what are we thinking about Coinbase at this point? From what I read they were invested in this Luna project in addition to all the other concerns about bankruptcy.
Not sure,, I really wasn’t paying attention. I’ll research it.
About Luna, over the years there’s always been a claim against usdt that it was a lie and would take down all cryptos. Maybe this claim was mostly accurate, just the wrong stable coin.
 

Croot_Overlord

John
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Not sure,, I really wasn’t paying attention. I’ll research it.
About Luna, over the years there’s always been a claim against usdt that it was a lie and would take down all cryptos. Maybe this claim was mostly accurate, just the wrong stable coin.
This seems to be a huge deal if true. Trying to understand it, but I think they are saying that the Biden admin used FTX and Alemeda Research to pump the market, and then exit.

 

Zgdaf

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More discussion here

This is a good analysis.
 

Croot_Overlord

John
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Seems to me that right now we are at a huge potential inflection point for crypto.

I do think there is very much a possibility for things to continue to crash. To some degree I hope it does happen. However crypto is not going away.

I’ve learned a lot this past few months helping set up this ADA node. No matter what happens to prices, our node is not going away. The Cardano network will not go down because it IS actually decentralized. There are several hundred independent stake pool operators across the globe that have their own nodes. Now there are probably 1000 nodes that are operated by the big boys that could go down, and in fact I think that would be a great thing.

To be continued I gotta run…
 

ShaolinNole

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how hard is what? to move your coins out of CB?

you need to transfer your coins out of CB asap in to a secure wallet (exodus, MEW etc). you could even relocate them to a cold storage wallet like a ledger wallet. cold storage means access is on a thumb drive type of hard ware not connected to the internet.

if this is what your asking its not difficult at all, its quite simple
I was looking at the Ledger Nano X but it has some really shitty reviews based on it having some battery powered features. Thoughts?
 

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Overlord
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Seems to me that right now we are at a huge potential inflection point for crypto.

I do think there is very much a possibility for things to continue to crash. To some degree I hope it does happen. However crypto is not going away.

I’ve learned a lot this past few months helping set up this ADA node. No matter what happens to prices, our node is not going away. The Cardano network will not go down because it IS actually decentralized. There are several hundred independent stake pool operators across the globe that have their own nodes. Now there are probably 1000 nodes that are operated by the big boys that could go down, and in fact I think that would be a great thing.

To be continued I gotta run…
Man I am just totally ignorant of whatever all this is about aye😂, don't get me wrong I ain't dissing ya'z, though I am mocking myself.
Feel free to join in🤣👍

TBH, half the time I'm scrolling through, hitting "like" on every comment but with total disregard of the posts content.

So like, this whole ADA thing. Wha, what's all that about?

Is it like some TFSF team effort thing?, coz I'm keen to help out yo!😅

To borrow, & modify, a quote from mighty Freeminer,... "Could ya explain it to me as if I'm a 8yo", lol.

Cheers boss!
 

Croot_Overlord

John
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Man I am just totally ignorant of whatever all this is about aye😂, don't get me wrong I ain't dissing ya'z, though I am mocking myself.
Feel free to join in🤣👍

TBH, half the time I'm scrolling through, hitting "like" on every comment but with total disregard of the posts content.

So like, this whole ADA thing. Wha, what's all that about?

Is it like some TFSF team effort thing?, coz I'm keen to help out yo!😅

To borrow, & modify, a quote from mighty Freeminer,... "Could ya explain it to me as if I'm a 8yo", lol.

Cheers boss!
Ok, and bear with me here because I’m learning.

Had a friend reach out at the beginning of last year and said he wanted help setting up a cryptocurrency mining operation. He trusts me to be able to accomplish technical projects and deliver.

So we set out on the journey
 

Croot_Overlord

John
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Cool, I like journeys.
I’ve known crypto has existed for years and years, and never really thought too much about. I have speculated off and on the next couple years and made a couple hundred but that’s about it.

I remember seeing BTC price drop to $5k during covid and thought hard about buying, but ended up putting the free cash I had at the time in oil stocks instead. That worked out well, but not BTC well.

I started to pay a bit more attention from there.
 

Croot_Overlord

John
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Once my friend asked us to set up a mining operation, we did a trade study and tried to evaluate where the best bang for the buck was, plus also something we could manage and build ourself.

We landed on the idea of mining a coin called ADA which runs on the Cardano network
 

Croot_Overlord

John
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@CuriousFiend

This is a video from last week that was put out by the creator of Cardano. It gives a background on some of the thought processes he has and aspirations for how to use the network. Not sure if you watched this when it was pasted earlier, but it’s a good place to start from a “vision” perspective

 

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Overlord
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Alrighty, so do I need to upload the "Fry" gif?😂 Ya know -"shut and take my money!"

Lol, nah for real though,...I understand the whole monetary system is fucked and so this cryto is like exchanging to a alternative form of "value storage" aye?

And so this ADA thing is like a version of this alternative?,...or?

Frankly, in general, I just don't really give a shit about money.
I've got plenty, plus I can/do just as easily trade what I produce for anything money can buy.
I'd be pissed if suddenly the stacks became worthless, but my lifestyle wouldn't be adversely affected beyond the subsequent effects from everyone else that IS severely affected.


So, put simply,...is this ADA thing sorta like a financial "doomsday bunker", in a sense?
 

Croot_Overlord

John
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Alrighty, so do I need to upload the "Fry" gif?😂 Ya know -"shut and take my money!"

Lol, nah for real though,...I understand the whole monetary system is fucked and so this cryto is like exchanging to a alternative form of "value storage" aye?

And so this ADA thing is like a version of this alternative?,...or?

Frankly, in general, I just don't really give a shit about money.
I've got plenty, plus I can/do just as easily trade what I produce for anything money can buy.
I'd be pissed if suddenly the stacks became worthless, but my lifestyle wouldn't be adversely affected beyond the subsequent effects from everyone else that IS severely affected.


So, put simply,...is this ADA thing sorta like a financial "doomsday bunker", in a sense?
Lol one day you are gonna have to explain to me your financial situation.

It will be best for you to understand better before you do anything. I’ll let Fats get in here and give some more explanation too.

It’s set up where you create your own wallet with your own crypto currency and you choose to delegate it to our stake pool.

Think of it kind of like a small bank. You leave your wallet at our bank. It gives our bank more credibility. You can take your money out any time, and the “bank” can’t ever actually take your money. Even if the bank shuts down, nothing happens to your wallet either
 

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Overlord
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Lol one day you are gonna have to explain to me your financial situation.

It will be best for you to understand better before you do anything. I’ll let Fats get in here and give some more explanation too.

It’s set up where you create your own wallet with your own crypto currency and you choose to delegate it to our stake pool.

Think of it kind of like a small bank. You leave your wallet at our bank. It gives our bank more credibility. You can take your money out any time, and the “bank” can’t ever actually take your money. Even if the bank shuts down, nothing happens to your wallet either
Cheers mate, that does seem pretty cool.

I'd be in, probably have to carefully shift some cash around though.
Any random transactions of $2k and up are flagged here in NZ, which are then covertly investigated, it's a pain in the arse.
 
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Overlord
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@Croot_Overlord the main reason my financial situation is, as it has become, is because I just don't really spent it on junk, minimalism bro😉,...oh and the perpetual thing I invented.
 

Croot_Overlord

John
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Cheers mate, that does seem pretty cool.

I'd be in, probably have to carefully shift some cash around though.
Any random transactions of $2k and up are flagged here in NZ, which are them covertly investigated, it's a pain in the arse.
You buy the crypto on any crypto exchange. Kind of the same we you buy stocks on a stock exchange. And then afterwards you just transfer it to a digital wallet. Digital wallet seems complicated, but it’s just a phone app.

But the whole time it’s your currency, you don’t ever give it away. So if you need some currency you have in the bank, you can pull it out any time and convert it to cash
 

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Overlord
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You buy the crypto on any crypto exchange. Kind of the same we you buy stocks on a stock exchange. And then afterwards you just transfer it to a digital wallet. Digital wallet seems complicated, but it’s just a phone app.

But the whole time it’s your currency, you don’t ever give it away. So if you need some currency you have in the bank, you can pull it out any time and convert it to cash
Oh just like stocks,....
.
.
.
...huh???

😂 Jks bro, but also literally irl.

I did set up a wallet and/or node thingy a while back on that JP Sears "Zion" crypto/social media dealey.

Though I can't find where I've written the key for it rn.
 

Zgdaf

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I was looking at the Ledger Nano X but it has some really shitty reviews based on it having some battery powered features. Thoughts?
I have been using a nano x for years. I just upgraded since the version I had didn’t have enough memory for multiple apps.
What’s your concern?
 

ChicagoFats

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Oh just like stocks,....
.
.
.
...huh???

😂 Jks bro, but also literally irl.

I did set up a wallet and/or node thingy a while back on that JP Sears "Zion" crypto/social media dealey.

Though I can't find where I've written the key for it rn.


Whats up @CuriousFiend .

ADA is a competitor to Bitcoin and Ethereum. It is a proof of stake coin and one of the older, more established cryptos. I thought it had a big following in New Zealand so surprised you haven't heard about it.

Cryptos are kind of like stocks in some ways, but the big differntiator is that they are not controlled by people and their inherent bias. The currencies are controlled by algorithms that can not be changed or manipulated.

@freeADA has created a node which acts like a regional bank. You stake (deposit) your coins on the node and in return you are paid interest on your coins.

So if you believe in crypto currency for the long-term and are going to hold them for a long time, there is no reason (that i can think of) not to stake your crypto.
 

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Overlord
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Whats up @CuriousFiend .

ADA is a competitor to Bitcoin and Ethereum. It is a proof of stake coin and one of the older, more established cryptos. I thought it had a big following in New Zealand so surprised you haven't heard about it.

Cryptos are kind of like stocks in some ways, but the big differntiator is that they are not controlled by people and their inherent bias. The currencies are controlled by algorithms that can not be changed or manipulated.

@freeADA has created a node which acts like a regional bank. You stake (deposit) your coins on the node and in return you are paid interest on your coins.

So if you believe in crypto currency for the long-term and are going to hold them for a long time, there is no reason (that i can think of) not to stake your crypto.
Thanks man.

I live in NZ but tbh I don't really have much to do with people's shit here.
What I mean is that I see other NZers as essentially programmed zombies, to various degrees, so if everyone here's doing something, generally I do the opposite, lol.

I can't say that I believe in crypto, frankly I just simply don't have a comprehensive understanding as of yet.
Though I am interested, based on a practical preparedness pov.
Ie: "Not preparing is preparing to fail".

Guess I should check out/ask/talk to @freeADA then?
 

ChicagoFats

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Yeah, I like talking cryptos and the theory behind them if you want to shoot the shit.

I think owning crypto could be a hedge against a currency collapse. There are no guarantees in life so invest at your own risk.

But I look at gold and the demand for it and I don't see too many differences between gold and bitcoin. If people see a reason to hold gold then i can rationally make the move to holding bitcoin or ada or another well established crypto.
 

Croot_Overlord

John
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Thanks man.

I live in NZ but tbh I don't really have much to do with people's shit here.
What I mean is that I see other NZers as essentially programmed zombies, to various degrees, so if everyone here's doing something, generally I do the opposite, lol.

I can't say that I believe in crypto, frankly I just simply don't have a comprehensive understanding as of yet.
Though I am interested, based on a practical preparedness pov.
Ie: "Not preparing is preparing to fail".

Guess I should check out/ask/talk to @freeADA then?
Me and fats can answer your questions. We are directly tied in with @freeADA

I just wanted to start helping you understand a bit.

Basically to start, you need to buy some ADA. You can do this on a crypto exchange like Binance or Coinbase
 

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Overlord
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Me and fats can answer your questions. We are directly tied in with @freeADA

I just wanted to start helping you understand a bit.

Basically to start, you need to buy some ADA. You can do this on a crypto exchange like Binance or Coinbase
Sweet as brother.

I'll think all this through, over the next few days and get back to ya.

My main concerns are avoiding triggering any of the govts financial snoops and also whether chucking cash into this ADA thing will benefit others,...not just my-self.

Ya know, for the past, roughly year and a half, I've been basically handing wads of cash to randoms, like homeless people on the street, and donating to various local causes.
I grew up essentially teetering on the poverty line, and spent most of my life living paycheck to paycheck.
Now that I've figured out how to easily generate "money" and have an excess, I find my-self thinking things like, -"what's the fuckin point of having it all if it's not being used to help the whole of humanity".
Greed and selfishness are just not my thing aye.
Frankly, they both disgust me on a really deep-fundamental-level.

🙂👍
 

Croot_Overlord

John
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Sweet as brother.

I'll think all this through, over the next few days and get back to ya.

My main concerns are avoiding triggering any of the govts financial snoops and also whether chucking cash into this ADA thing will benefit others,...not just my-self.

Ya know, for the past, roughly year and a half, I've been basically handing wads of cash to randoms, like homeless people on the street, and donating to various local causes.
I grew up essentially teetering on the poverty line, and spent most of my life living paycheck to paycheck.
Now that I've figured out how to easily generate "money" and have an excess, I find my-self thinking things like, -"what's the fuckin point of having it all if it's not being used to help the whole of humanity".
Greed and selfishness are just not my thing aye.
Frankly, they both disgust me on a really deep-fundamental-level.

🙂👍
The big pie in the sky goal of crypto is to displace the current financial system (i.e. Klaus Schwab) so there is a virtuous reason for participating. Decentralization of finance, into the hands of the people, not central banks.

You can set things up so you make weekly small purchases or something like that.

I have big hopes for merging some of the crypto concepts with the forum. Basically become part of something called web3 (we can talk more on this later)

But I guess one of the good things here is you can provide benefit to the vision by participating, but you maintain your assets. Which isn’t necessarily a big deal to you, but it’s a way you can help make an impact. There will be quite a few more benefits to you I would imagine, but you would also help us a ton
 

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