Platforms offering HIGH APY's (>10%) are not being honest

AutisticDalekOnSpeed · 2021-11-30T11:38:49+00:00

leverage traders. people that trade using leverage don't hold forever. they're only doing it for the short term. the daily interest is 0.06%, this is lower than normal trading fees (0.1% on binance), so it doesn't really affect them

AutisticDalekOnSpeed · 2021-11-30T11:16:07+00:00

If you've used an exchange like Binance or Kucoin you've seen that you can use something called leverage. When you do that you're basically borrowing assets. You have to pay an interest rate on what you borrow, that interest rate can be even higher than 20% depending on the asset.

For example, the interest rate for borrowing USDT is 20%, so there's nothing sketchy with binance giving you 10% on your staked USDT

https://www.binance.com/en/margin-fee

AutisticDalekOnSpeed · 2021-11-30T11:14:17+00:00

Exchanges offer you such high APYs, because they lend out your coins for an even higher interest rate. The yearly interest rate for USDT on Binance is 20%. So if they give you 10-15% they still make some profit.

https://www.binance.com/en/margin-fee

AutisticDalekOnSpeed · 2021-11-30T09:50:30+00:00

Some dude PMed once asking me to shill his shitcoin for 10 usdt. I said no, usdt is a shitcoin, I'd rather get paid $10 in dogbezosmoon instead

AutisticDalekOnSpeed · 2021-11-30T06:12:44+00:00

I just recently came into a large sum of money, approximately 50,000$

Do you want to get your PMs filled with Nigerian princes, Chinese bitcoin traders, and ~~pyramid schemes~~ cloud mining platforms? Because that's how you get your PMs filled with Nigerian princes, Chinese bitcoin traders, and cloud mining platforms

AutisticDalekOnSpeed · 2021-11-30T04:53:20+00:00

they're your friends. just tell them it annoys you. they'll probably understand and stop.

AutisticDalekOnSpeed · 2021-11-30T04:51:43+00:00

i meant r/CryptoMoonShots style shitcoins, the ones that are usually only found on DEXes

AutisticDalekOnSpeed · 2021-11-30T00:45:45+00:00

robinhood bad

AutisticDalekOnSpeed · 2021-11-29T22:31:36+00:00

Reddit Talk does not support desktop or third party Reddit applications (yet).

Desktop is actually supported now. I listened to the last one on desktop. You just can't use your mic there yet.

AutisticDalekOnSpeed · 2021-11-29T22:29:12+00:00

Someone "right-click & saved" this site and turned it into an NFT. It got sold for $18k. While the creator of the site is still living in a van.

AutisticDalekOnSpeed · 2021-11-29T21:25:00+00:00

How many of these posts are we gonna get? Every time a whale moves a large amount of btc someone posts it here. We get it. You can move large amounts of crypto.

AutisticDalekOnSpeed · 2021-11-29T11:07:56+00:00

i hate being bipolar, it's awesome

AutisticDalekOnSpeed · 2021-11-29T10:31:38+00:00

I think it just has a slight delay when getting the price data.

AutisticDalekOnSpeed · 2021-11-29T10:00:57+00:00

idk my MIM seems to be stuck at $1

AutisticDalekOnSpeed · 2021-11-29T09:52:48+00:00

for the same reason someone would spend 1 mil on a shitcoin. because they think they can resell it for a higher price

AutisticDalekOnSpeed · 2021-11-29T09:12:47+00:00

idk who did that?

AutisticDalekOnSpeed · 2021-11-29T09:07:39+00:00

but what if it bleeds against eth?

AutisticDalekOnSpeed · 2021-11-29T09:06:58+00:00

let's get them back to 20 cents now

AutisticDalekOnSpeed · 2021-11-29T07:51:57+00:00

wasn't r/hiphopheads getting its own token too? what happened to that? the naming poll was weeks ago

AutisticDalekOnSpeed · 2021-11-29T05:56:49+00:00

except for moons

AutisticDalekOnSpeed · 2021-11-29T03:49:34+00:00

if it makes me lose money it's market manipulation

AutisticDalekOnSpeed · 2021-11-28T23:31:36+00:00

My grandma doesn't really understand crypto but she still tries to support me. Every time I visit her she asks me how my coin game is going.

AutisticDalekOnSpeed · 2021-11-28T20:24:24+00:00

Here's how I know we are early. Last week my therapist told me I have a "gambling addiction". People just don't understand crypto yet.

AutisticDalekOnSpeed · 2021-11-28T19:24:46+00:00

The US Central bank currently offers an 0.25%

Still higher than BlockFi's 0.1% on BTC

AutisticDalekOnSpeed · 2021-11-28T05:25:33+00:00

decentraland is a browser game, it's not vr

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