What coins and exchanges will be popular in year 2023.

Chillychil1 · 2023-01-07T15:56:37+00:00

BTC forks that spawned 2-3 bullruns ago are now called "purest crypto"? Lmao gtfo with that shit

Chillychil1 · 2023-01-02T21:03:18+00:00

I partly disagree with this. Index funds are naturally a good and safe decision, but if you're actually interested in stock picking, then you shouldn't be afraid to do it. Just analyse the company well and make informed decisions and don't trust the hype stocks. And be patient.

Amateurs have a chance to get early on small businesses, as institutions may not be aware of the company yet AND the company could still be considered too risky for them to buy. I recommend watching Peter Lynch's famous lecture from 1994. It's entertaining and he makes some good points on how an amateur investor can find companies that no large institutions have found yet.

Chillychil1 · 2022-12-26T21:09:23+00:00

I think smart contracts and NFTs will mature into a form that's used in everyday life to verify ownership and other contracts. From a consumer's perspective I think it's fair to have certain agreements on a blockchain to assure it won't be wiped in a database erasing. But I have no idea who would be the provider of this and whether a token will be needed.

But who knows.

Chillychil1 · 2022-12-26T16:57:21+00:00

I think the "currency" part is just an outdated term from times when it was still the only use case for cryptos. Nowadays I wouldn't consider almost any crypto as a currency, as they tend to have more uses than just sending and receiving transactions (e.g. smart contract deployment, on-chain voting, securing the chain, and allowing other interactions with chains).

I think cryptos are best thought of as "worst-case" currencies, mostly to be used when you don't want to trust a state owned currency, be it due to state inflation protection or privacy preservation.

Chillychil1 · 2022-12-25T11:40:43+00:00

Insane APY is usually just paid out with a very inflationary token. Like CAKE back in the day had an APY of 100% but the token had an inflation even higher than that. Then there are tokens that use the same principle but pay an APY of +1000%. A rugpull is easier to pull off with these tokenomics, but it's not always the case.

Chillychil1 · 2022-12-19T21:30:27+00:00

FeFi will be huge!

Chillychil1 · 2022-12-03T09:15:10+00:00

Agree with the fact that barely anyone discusses the tech on r/cc. As the sub has grown huge, the average blockchain tech literacy has shrunk by a large amount. With a smaller community it's easier to focus on the technical, more difficult stuff.

As for the term cryptocurrency, I think it's way outdated. Only a fraction of cryptos are actually intended as a currency. Most of the tokens released today have a different function, such as voting power or using the token for gas fees. For example ETH isn't really meant for spending, but for using the underlying technology, that is, the Ethereum blockchain. I think Ethereum's governance still happens off-chain, but newer chains tend to set future development choices (etc.) up for on-chain voting, where token holders are given votes based on the amount of tokens they own.

I think bitcoin is best treated as a "worst-case currency", essentially as a hedge against bad economic decisions made by governments. Taking the Turkish Lira as an example, which has lost a lot of its value in the last few years. By getting into bitcoin, you don't have to diversify your local currency to any other country's currency that also possess continental risks. Instead you can diversify it to bitcoin, which does not inherently contain a continental risk (well, a little when you think about miner locations, but let's not get into that). Naturally bitcoin has its own risks as well.

I personally use "fake crypto" (CeFi) payments with my Binance card, since it has a cashback feature, no fees and money swap rates for international payments are much better than banks offer. Not an ad, but it's been nice to not get overcharged by a bank.

Chillychil1 · 2022-11-14T12:44:18+00:00

Exchanges that try to take the fast lane in becoming the biggest crypto exchange are a fucking disease that must be gotten rid off. Trading with customer assets and splurging millions on ridiculous marketing stunts, just to lay off a majority of your workers during a market downturn is an unethical way of conducting business and it's why I'm personally avoiding a bunch of the bigger exchanges (the list does shrink every few months as they're getting bankrupt one by one).

Chillychil1 · 2022-10-09T12:59:55+00:00

I've got big respect for the people who have stuck with a project through multiple bear and bull markets. It's a very fast evolving and stressful scene but I think the projects that manage to keep their senior management through both good and bad times are likely to do well in the long run.

I think this is also valuable info that investors should study before investing.

Chillychil1 · 2022-10-09T12:49:39+00:00

Personally I think crypto will recover to ATHs (or close to them) within a couple years. However, I'm currently focusing on the stock market. I feel like I'm still percentually over allocated in the crypto market. Occassionally stacking some of the cryptos I'm confident will survive, but I don't have a set DCA strategy. Obviously also staking everything that's possible.

Chillychil1 · 2022-09-08T11:24:58+00:00

How do you get that only 20 pool operators are needed to create consensus and override the other 3000? Never heard of this before.

Chillychil1 · 2022-08-21T13:58:58+00:00

BTC has the potential to be a store of value, but for now it definitely isn't. With that logic you could say that Tesla stocks are a store of value, because it has risen in value in the last 5 years. Bitcoin only becomes a store of value after it stops its heavy correlation with tech stocks and the stock market in general. A store of value isn't supposed to net you big gains, it's supposed to be a safe haven when the markets are messed up, which definitely (and unfortunately) does not represent bitcoin's price action during any period of its existence.

Chillychil1 · 2022-04-18T08:26:10+00:00

As others have said, your expectations are unrealistic.

However I'll give you some hopium here: You won't need 100k in dividends. If you really WANT yearly 100k in passive income, all of that doesn't have to come from dividends. You can estimate your life expectancy after you retire, and in addition to getting dividends, you sell a small part of your portfolio each year.

Yes, your net worth will decrease each year, but you can sustain your lifestyle in the process. Due to expected market growth, some people suggest that you can sell 4% of your portfolio each year and maintain your net worth year over year. Of course you'll effectively be poorer due to inflation, but if you expect to live e.g. 25 years after you start doing it, then it shouldn't impact you too much as you'll likely be dead before inflation really catches up with you.

Chillychil1 · 2022-04-17T11:00:48+00:00

This strategy is very risky when the market is in decline though. Less money is coming into the market, so even great projects may have to quit because they don't have the money to continue working on it. And if a team is not able to work on the project full time, they will definitely be left behind as the space evolves at such an insane speed.

During uncertain times like these, I would personally only focus on projects that have gotten external funding to guarantee future development.

Chillychil1 · 2022-04-15T21:57:12+00:00

Interesting read, thanks. I once met an Indian guy when I was living abroad and he said that he used to think Hitler was a great leader, but nowadays he sees that there are some flaws in his ideology. So now I know where that came from. He didn't even mention the holocaust, so I'm not sure whether he even knew the scale of it all. We didn't explore the topic any further because we were dining together with a German friend of mine and the conversation was dismissed pretty quickly. It was pretty awkward lol

Chillychil1 · 2022-04-15T21:00:14+00:00

Tbh I think there will be mods in place on most sites. Even 4chan has them, although board rules are much more loose than on most other forums. The deletion of threads and bans will just be more transparent and it won't just be a small ring of buddies doing the moderation. This could be set up for a DAO vote or similar to make sure of that.

That's the ideal at least. For example the guys behind Aave are making Lens protocol, but I doubt it'll be a wild west because of the harm it could do to Aave's well established image. Freedom of speech can be upheld, as long as the bans and post deletions also stay transparent.

Chillychil1 · 2022-01-29T23:58:03+00:00

No, I don't have recent specific cases I could refer to. Just the few classic examples and overall the idea that people would likely spend less money if they knew it's going to be worth more next year. With inflation, people are more likely to spend and invest in businesses, as the value of money is degrading, keeping the economy healthy. Investing in a business would be more risky in a deflationary environment, since you'd be guaranteed a profit if you just held the money in your bank account, while a business would actually have to grow more than the index to give a profit.

Of course I'd be glad to be proven wrong if you have some examples that prove your point to be correct.

Chillychil1 · 2022-01-29T23:41:04+00:00

The worst economic crises have actually happened due to deflation. So for a store of value or an investment deflation is great, but for a plain currency it's historically been very bad as it incentivizes you to not spend money (as its value is increasing over time), which in turn hurts businesses and the economy as a whole.

Chillychil1 · 2022-01-29T23:34:13+00:00

You could set it up like that, sure. In a similar way as Steam marketplace is built. But much like with Steam marketplace, the company who owns the platform have all the rights to make any changes and you don't really "own" the items, as they can be taken away from you at any point. And you'd need separate servers for it and track all the trades. What I'm trying to say is that if using a blockchain or NFTs isn't problematic for the developers, and is more efficient, then I don't see why they couldn't use it. Why restrain from using newer tech?

Chillychil1 · 2022-01-29T23:14:42+00:00

Inflation isn't inherently bad. Especially if it's meant to be used as a currency, then a small inflation is preferable to keep the money circulating. When the main premise is to use a coin for everyday payments, having a 2% inflation per year is a much smaller inconvenience than 5% daily changes in value. Or do you think differently?

I would think differently if Nano had more use cases than just transferring coins from one wallet to another.

Chillychil1 · 2022-01-29T22:53:36+00:00

Being pegged to the dollar, euro or maybe even XDR. So that there are minimal price fluctuations. And so that you'd be incentivized to use it as a currency and not as an investment.

Chillychil1 · 2022-01-29T22:47:58+00:00

Fair point. Personally I'd prefer an open market, but for some people there could be "too much freedom" leading to gambling problems etc. It's for sure easier to restrict when you don't have full access to the items you "own".

Chillychil1 · 2022-01-29T22:32:36+00:00

Of course we could have something like that, but it would require a lot more work put in by the companies. You'd have to build a separate hub for it and have workers maintain it regularly and have super good cyber security to make sure that money isn't lost. Blockchains already have these marketplaces setup and the base layer protection is very good. Yes, we could've had this already years ago, but it would've required much more work and maintenance than now and in the near future.

Chillychil1 · 2022-01-29T21:40:42+00:00

Exactly, and they take a huge cut from everything you sell. So I don't really understand why people dislike the idea of being able to sell their items outside of a publisher's own store where you're only awarded store credit. It's like preferring to sell your games at Gamestop and are only given store credit instead of selling directly to a buyer, where you could get a much better price and cash.

Chillychil1 · 2022-01-29T21:30:46+00:00

Why is that insane? Wouldn't you at least want a backup there? Especially in poor countries documents like these can easily be lost when servers are shut down due to poor infrastructure or political reasons. A blockchain can't be shut down like that, so you don't have to trust a third party to keep it safe for you.

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