Bitcoins/Litecoins/Virtual Currencies

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Rajaah

Rajaah

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Lightning Lord Rule said:
Just copy the image and change 1 random pixel, BOOM UNIQUE NOW!

giphy.gif
Click to expand...

Yo I was just thinking about this yesterday, what's stopping people from changing one pixel in an NFT to "create" a new unique one? The Blockchain won't stop you.

A guy I know asked me the other day if I'm into NFTs at all and said he was getting into them, then showed me a picture of like, a dog wearing a military uniform or something.

I didn't get it, then he pointed out that it was selling at $1300 and said the day before he considered getting it and it was $50 at the time, so he could have made $1250 overnight.

I'll admit that there's a lot of money-making opportunity in Teh NFT Space. Except it seems like all of the money-making opportunities are contingent on other people being fucking weirdoes who like to waste money.
 
LachiusTZ

LachiusTZ

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Rajaah said:
I'll admit that there's a lot of money-making opportunity in Teh NFT Space. Except it seems like all of the money-making opportunities are contingent on other people being fucking weirdoes who like to waste money
Click to expand...

That's my hangup on it.
 
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Arden

Arden

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What people seem to have a hard time grasping isn't the concept NFT's, it's the concept of art. It's very easy to reproduce a painting that is visibly identical to a priceless Picasso and hang it on your wall. What makes the original Picasso so valuable is that 1. it is verifiably unique and 2. Picasso is a super famous fucking artist. There may be a million Starry Night prints out there, but there is only one original and that's the only one with real value.

NFTs changed the game because they enable people to make "verifiably unique" digital items, including art.

The stupidity comes with the fact that just because something is verifiably unique doesn't mean it holds value. If Picasso wasn't a super famous artist, his paintings wouldn't be worth a fraction of what they are worth, even though they are verifiably unique.

Now you've got regular schmucks making random digital art and using NFTs to make them verifiably unique. It's just the newness and the hype driving the value for these otherwise worthless pieces. Most of them won't be worth shit in a few years.
 
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Caliane

Caliane

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Solana just quietly crushing it, while we all talk about other shit.
Anyone know much about it?
 
Rajaah

Rajaah

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Caliane said:
Solana just quietly crushing it, while we all talk about other shit.
Anyone know much about it?
Click to expand...

I posted on here like 6 weeks ago that Solana seemed like a good bet to go up, was around $140 at the time and had come way down from a high, then it took off when everything else did.

I think right now all of 'em are quietly crushing it. Solana is pretty solid though, probably nowhere near the top.
 
Rajaah

Rajaah

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I gotta say, the fact that The Shiba Whale (tm) is holding a massive fraction of the world's coins and could drop the coin's value by 40%+ at any given moment is not exactly conducive to having confidence in SHIB.

I'm wondering if this is why Kraken backed out for now and RH hasn't committed yet.
 
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reavor

reavor

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Rajaah said:


I gotta say, the fact that The Shiba Whale (tm) is holding a massive fraction of the world's coins and could drop the coin's value by 40%+ at any given moment is not exactly conducive to having confidence in SHIB.

I'm wondering if this is why Kraken backed out for now and RH hasn't committed yet.
Click to expand...


but the amazing thing with crypto is that it's decentralized and no one controls it maaaaan! except a few anonymous whales who can crash coins whenever.
 
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Flobee

Flobee

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Caliane said:
Solana just quietly crushing it, while we all talk about other shit.
Anyone know much about it?
Click to expand...
VC backed, centralized L1 smart-contract chain. They don't even pretend to be decentralized. That centralization gives them a huge performance advantage over other L1's. I obviously think its garbage, but its making folks money. A lot of big money behind it. Most people don't care about decentralization so I'm sure it will do well.
 
Arden

Arden

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Welp, finally decided to mess around with metamask and I can see why people are saying the system is unusable.

-Bought $100 of ETH on metamask to test things out. After various fees, my $100 is reduced to a balance of $93 (which isn't terrible).
-Attempted to swap the ETH into TRU but the gas fee alone was more than $100, which means even if I spent my entire balance just on the gas fee (and got no TRU) I still wouldn't have enough to transact the swap.
-Since a swap is clearly out of the question I decided to just xfer my ETH to Binance. Just moving my ETH required a $10 gas fee. Fine. Hit the transact button and get a transaction failed alert. Despite the fact that the transaction didn't work, I still paid the $10 gas fee, so I'm down to $83. Attempt the transaction again. Fails again. Another $10 gone.
-I'm now down to $73 from the initial $100 and I've done exactly nothing.

Fuck this nonsense. I guess I'll just have $73 in a metamask account I can never move or do anything with.
 
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Tmac

Tmac

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Arden said:
Welp, finally decided to mess around with metamask and I can see why people are saying the system is unusable.

-Bought $100 of ETH on metamask to test things out. After various fees, my $100 is reduced to a balance of $93 (which isn't terrible).
-Attempted to swap the ETH into TRU but the gas fee alone was more than $100, which means even if I spent my entire balance just on the gas fee (and got no TRU) I still wouldn't have enough to transact the swap.
-Since a swap is clearly out of the question I decided to just xfer my ETH to Binance. Just moving my ETH required a $10 gas fee. Fine. Hit the transact button and get a transaction failed alert. Despite the fact that the transaction didn't work, I still paid the $10 gas fee, so I'm down to $83. Attempt the transaction again. Fails again. Another $10 gone.
-I'm now down to $73 from the initial $100 and I've done exactly nothing.

Fuck this nonsense. I guess I'll just have $73 in a metamask account I can never move or do anything with.
Click to expand...
I've never used Metamask. I only ever used Uniswap and while it didn't actually fuck me like you're describing (rustled.jpeg), the gas fees are cost prohibitive. I have no idea how anyone swaps ETH. Kind of makes me want to sell all my ETH at the high and buy back into BTC or DOGE.
 
Haus

Haus

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Arden said:
Welp, finally decided to mess around with metamask and I can see why people are saying the system is unusable.

-Bought $100 of ETH on metamask to test things out. After various fees, my $100 is reduced to a balance of $93 (which isn't terrible).
-Attempted to swap the ETH into TRU but the gas fee alone was more than $100, which means even if I spent my entire balance just on the gas fee (and got no TRU) I still wouldn't have enough to transact the swap.
-Since a swap is clearly out of the question I decided to just xfer my ETH to Binance. Just moving my ETH required a $10 gas fee. Fine. Hit the transact button and get a transaction failed alert. Despite the fact that the transaction didn't work, I still paid the $10 gas fee, so I'm down to $83. Attempt the transaction again. Fails again. Another $10 gone.
-I'm now down to $73 from the initial $100 and I've done exactly nothing.

Fuck this nonsense. I guess I'll just have $73 in a metamask account I can never move or do anything with.
Click to expand...
I use Metamask as a holder wallet. I don't do transactions through it. I connect Metamask to Defi exchanges to do my transactions.

With that said, until either the gas fee situation on ETH becomes more manageable (i.e. cheaper) or I get a LOT richer and the ETH fees start seeming like "small enough to be a rounding error" thing I am doing the majority of my work on other chains. Right now, doing a lot on Matic (Layer 2 over ETH) and transactions are running me at maximum a few cents per transaction.

If you're still in the learning/experimenting/small fish size of money ETH gas fees make it essentially unviable in it's current state.
 
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Arden

Arden

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Yeah I mean I can't even move my money off meta now. Gas fees are so high no transaction works and every failed attempt reduces my balance by roughly $10. I'm now down to $50 and I'm just going to stop trying.

Glad I only lost $100.
 
Lightning Lord Rule

Il_Duce Lightning Lord Rule

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Haus said:
I use Metamask as a holder wallet. I don't do transactions through it. I connect Metamask to Defi exchanges to do my transactions.

With that said, until either the gas fee situation on ETH becomes more manageable (i.e. cheaper) or I get a LOT richer and the ETH fees start seeming like "small enough to be a rounding error" thing I am doing the majority of my work on other chains. Right now, doing a lot on Matic (Layer 2 over ETH) and transactions are running me at maximum a few cents per transaction.

If you're still in the learning/experimenting/small fish size of money ETH gas fees make it essentially unviable in it's current state.
Click to expand...
What all are you trading on the MATIC network?
 
Haus

Haus

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Lightning Lord Rule said:
What all are you trading on the MATIC network?
Click to expand...
Let's see.... It should be noted I added the Polygon/MATIC network to Metamask.

On $MATIC/Polygon
Using QuickSwap to do LP farming in their "Dual Farming" setup : Matic-ETH , Matic-Quick, Matic-USDT
All of these earn me rewards in dQuick, Matic, and the usual cut of transaction fees.

Using Polycat.finance for some other stuff. Most notably holding the ETH I have (in the form of WrappedETH( wETH)) in their vault which is an auto-compounding front for AAVE (this is where I store the majority of my ETH making around 6% apy at the moment). THey also have "Tanks" which are a farming protocol, farming some of their PAW token to make MATIC there as well.

Playing around in AAVEgotchi, which is on Polygon. SO I have some GHST which I am using to farm FRENS which get gamified into things. Not a ton of money here, just playing around , but in a profit.

My interactions with ETH are currently limited to "Purchase ETH, move as fast as possible via the polygon bridge to polygon and do things there". If I find a good usable fiat onramp I can trust which directly drops onto Polygon then my ETH direct interactions will probably vanish all together for the time being.
 
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Daezuel

Daezuel

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Haus said:
Let's see.... It should be noted I added the Polygon/MATIC network to Metamask.

On $MATIC/Polygon
Using QuickSwap to do LP farming in their "Dual Farming" setup : Matic-ETH , Matic-Quick, Matic-USDT
All of these earn me rewards in dQuick, Matic, and the usual cut of transaction fees.

Using Polycat.finance for some other stuff. Most notably holding the ETH I have (in the form of WrappedETH( wETH)) in their vault which is an auto-compounding front for AAVE (this is where I store the majority of my ETH making around 6% apy at the moment). THey also have "Tanks" which are a farming protocol, farming some of their PAW token to make MATIC there as well.

Playing around in AAVEgotchi, which is on Polygon. SO I have some GHST which I am using to farm FRENS which get gamified into things. Not a ton of money here, just playing around , but in a profit.

My interactions with ETH are currently limited to "Purchase ETH, move as fast as possible via the polygon bridge to polygon and do things there". If I find a good usable fiat onramp I can trust which directly drops onto Polygon then my ETH direct interactions will probably vanish all together for the time being.
Click to expand...
This kinda stuff is why I'm still high on MATIC.
 
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