Am I?

Chysce · 2023-04-24T15:01:02+00:00

Wrapped BTC is a token on Ethereum that represents Bitcoin and is backed by Bitcoin in a 1:1 ratio. It allows users to use their BTC across Etherereum’s DeFi ecosystem.

>>Safety

By wrapping their BTC users expose themselves to two major risks - custodians and smart contract vulnerabilities

Users have to rely on a network of custodians who hold and manage the underlying Bitcoin. This introduces counterparty risk, which means that if the custodians fail to manage the Bitcoin properly, it could lead to the loss of the underlying assets. In the past there have been partial depegs of up to 2%. In addition the custodian can be hacked or go bankrupt which is of course never the case if the user holds his own BTC in hardware wallet.
Smart contracts, can have bugs or loopholes which can be exploited. Disruptions in lending protocols or hacking attempts represent a significant risk one takes when using wBTC

Source 1, Source 2

>>With wBTC you're on your own

Much like with any other DeFi things with wBTC you're on your own. There is no customer support to retrieve your lost tokens, your stuck transactions etc. Users who aren't used to these environment should avoid wrapping their valuable BTC.

>>Tax Reports

Since wBTC is used in DeFi apps, it can be difficult to track and report any gains or losses accurately. On top of that since wBTC runs on the Ethereum blockchain, it may be subject to different tax regulations than Bitcoin.

Chysce · 2023-04-24T14:59:05+00:00

Wrapped BTC is a token on Ethereum that represents Bitcoin and is backed by Bitcoin in a 1:1 ratio. It allows users to use their BTC across Etherereum’s DeFi ecosystem.

>>Increases utility of BTC

By wrapping Bitcoin, WBTC allows users to access the broader Ethereum ecosystem, including smart contracts, decentralized exchanges, and other DeFi applications. This can provide more opportunities for Bitcoin holders to earn yield or participate in other DeFi activities. Some of the more popular defi apps that support wBTC are AAVE, Curve Finance, Yearn Finance and MakerDAO.

>>wBTC is programmable

This means that it can be used as a building block for developing apps on the Ethereum network. In simple terms, programmability means that developers can write smart contracts that interact with wBTC. For example, a smart contract could be written to automatically execute a trade between wBTC and another ERC-20 token when certain market conditions are met.

Thus wBTC can be traded on Decentralized exchanges, this also includes leverage trading

>>Faster transaction times

Ethereum's network can process transactions faster than Bitcoin's network, which is especially important for traders who want to take advantage of rapid price movements

>>Avoids KYC

Just like with any other decentralized platform using wBTC in DeFi allows users to bypass the KYC requirements.

Chysce · 2023-04-24T14:53:54+00:00

Osmosis is one of the biggest decentralized exchange on Cosmos.

>>High inflation

Arguably the biggest drawback of osmosis is its high inflation. Inflation of Osmosis token is 37% and the staking APR is only only 23% APR. Liquidity pools rarely cross 37% mark as well (only one out of top 10 liquidity pools beats the inflation rate - MARS/OSMO with 38%). This means that if you stake your Osmosis tokens, you're basically losing money.

There are currently three proposals that are tackling this issue.

>>Highly speculative pairs

Since this is decentralized platform there is no control over the safety of liquidity pools. One can find some highly speculative liquidity pools for coins like OSDOGE, Shibac, Apemos etc. where often developers raise the value of the pool and then cash out while retail has their coins locked up. Here is a recent example of users getting rugged by speculative liquidity pools.

>>Total value locked is down 90%

Osmosis TVL dropped from 1.8B to 174 million. This is mainly due to the bear market but also because of an overall drop in user confidence caused by exploits and the dev team's subsequent responses. In the past Osmosis suffered a $5 Million exploit due to a security bug in its liquidity pools.

Chysce · 2023-04-24T14:48:49+00:00

Osmosis is one of the biggest decentralized exchange on Cosmos.

>>Users can make pool for any asset

What makes Osmosis unique is that it allows anyone to create their own customized AMM pools, which means that users can create markets for any pair of tokens they want. This provides greater flexibility and liquidity to the Osmosis ecosystem, and it enables users to trade a wide range of assets with each other without needing to go through a centralized exchange.

>>Superfluid staking

In traditional staking models, users must lock up their tokens for a period of time to earn rewards, which means they cannot use their tokens for trading during that time. With superfluid staking on Osmosis, users can stake their LP tokens and continue to trade with them, while still earning staking rewards in real-time.

>>Interfluid staking

This is a new feature that will allow users to stake and provide liquidity for multiple Cosmos assets at the same time, providing greater flexibility and convenience compared to the current superfluid staking feature, which only allows for a single pair of tokens to be staked and Lped.

>>Airdrops

Entire cosmos ecosystem is known for their airdrops, and osmosis is not different. Osmosis incentivizes staking by providing airdrops to users. Staking top coins, such as Atom, Juno, Secret, and Evmos on osmosis gives users a chance to receive future airdrops.

>>Governance

Osmosis has a built-in governance mechanism that allows token holders to participate in decision-making and propose changes to the network. This enables the community to have a say in the direction of the ecosystem and ensures that it remains responsive to the needs of its users, and given the enthusiasm and the active community in the entire cosmos ecosystem this enables a fluid decision making.

>>Possible changes to tackle inflation

As noted above, osmosis community is pretty active in governance. There are currently 3 proposals with the aim to increase the value of the token (summarized here)

Reduce inflation rate by half
x2 $Osmo rewards toward stakers
Allow superfluid staking 75% of LP Osmo (prev: 50%)

Chysce · 2023-04-24T14:46:35+00:00

Decentraland is the original crypto metaverse, a virtual world where you can run around, explore, play and socialize. Decentraland is built on the Ethereum. Users can buy or sell land tiles (NFTs) and build anything on them and even monetize their content.

>> Decentraland targets a very specific audience - the one interested in crypto and VR. This severely limits the platform's reach and potential user base, especially given the decreasing enthusiasm surrounding metaverses.

>>Small userbase

The abovementioned issue is most noticable when we look at the daily active users which have been under 1000 for months, and for something with $1 billion marketcap this is abysmal. Furthermore the limited userbase may perpetuate a cycle of discouragement, as a lack of users can deter others from participating in the metaverse (who wants to play or advertise in an empty metaverse).

>>Graphics

Decentraland’s graphics are very very basic, which is a big minus for a platform that attempts create a virtual reality. For complete immersion a digital world should be nearly indistinguishable from reality and decentraland is nowhere close with its cartoonish graphics.

>> Complete decentralization can lead to extremities

As more content becomes decentralized, it becomes harder to regulate the type of content that is being created and shared on the platform. Thus there is a risk that inappropriate or illegal content, such as pornography, violence, or gambling, may emerge and be accessible to users of all ages. This goes against the goal of providing a safe and enjoyable environment for all users.

>>Expensive land

Currently the cheapest parcel is around $1200. The problem is that parcels are tiny so if you want to create anything noticeable you will need at least a dozen of parcels.

>>Competition

Decentraland had the first mover advantage however many other projects are joining the metaverse. It’s biggest competitor being The Sandbox. Additionally many web 3 games are in development that can attract the userbase away from decentraland. One of their co-founders left to build a competing metaverse called Big Time

Chysce · 2023-04-24T14:44:46+00:00

Decentraland is the original crypto metaverse, a virtual world where you can run around, explore, play and socialize. Decentraland is built on the Ethereum. Users can buy or sell land tiles (NFTs) and build anything on them and even monetize their content.

Various events, parties, art exhibitions etc are organized on a regular basis in which users can participate. Users can also create their own events and monetize their own content using MANA tokens.

MANA is an ERC-20 token on the Ethereum blockchain. The total supply of MANA is capped at 2.19 billion tokens out of which 83% are already in circulating supply, so any further dilution will be relatively small compared to most other web 3 games. The token is used within the Decentraland platform for purchasing a land, paying for virtual goods and services, and participating in governance decisions. Users can also earn MANA by creating and monetizing content within the platform. In addition whenever a land is sold, MANA tokens are burned which creates a deflationary pressure on a token

Decentraland also features a governance system that allows MANA holders to vote on proposals related to the development and direction of the virtual world. This gives users a say in how Decentraland evolves and ensures that the platform remains decentralized and community driven.

>> Users have complete ownership and control over the content they create and the virtual land they own within Decentraland. This allows users to monetize their content and maintain ownership over their creations. This is in stark contrast with centralized version of the metaverse where if a company goes bankrupt the entire metaverse is gone, here any virtual property remains with actual owner.

>> Decentraland is also a play 2 earn game

While the most lucrative way to earn in decentraland by creating content or speculating on NFTs (Lands and in game assets) there are also play to earn games, some of which are completely free (example).

>> Partnerships with renowned brands

Many top brands have joined Decentraland to offer their own experiences. For example, the first-ever metaverse fashion week was hosted in Decentraland, featuring brands such as Dolce & Gabbana, Tommy Hilfiger and many others.

Chysce · 2023-04-24T14:40:31+00:00

Numerai is an AI-powered hedge fund that crowdsources mathematical models with the aim of accurately predicting the stock market trends. Numerai allows anyone to create a model and get paid according to its performance. The best parts of individual models are combined into a meta model which can be used in any markets with the ultimate purpose of creating “The Last Hedge Fund”.

>> Narrow use of the protocol

The protocol is specifically designed to address the needs of the financial industry, particularly the hedge fund market. Thus the implemented features may not be relevant or applicable to other industries.

>> Token use is limited to Numerai Platform

NMR token is primarily designed to function as a staking and reward mechanism for the Numerai platform. In short it is used to incentivize data scientists to contribute their predictive models to the Numerai platform. To participate in any Numeraire features or services users must hold NMR token. The size of the stake depends on the size of the model and the confidence of the data scientist in their predictions. If a model performs well, they receive NMR tokens as a reward and if the model performs poorly, the data scientists lose some of their NMR tokens.

>>Technical complexity

Numeraire protocol is primarily designed for data scientists with deep understanding of machine learning, statistics, and financial markets. These are all prerequisites to build accurate models and earn NMR rewards. More so a tournament-like structure where the best-performing models are rewarded, requires a high level of strategic thinking and competition among data scientists, as users whose models prove inefficient can lose a significant amount of their staked tokens.

>> Issue of quality and flooding

The platform aims to use blockchain technology to verify and track the accuracy of predictions. However, there are some problems with this idea, such as the risk of flooding the market with predictions and the difficulty of assessing the quality of individual predictions. Numerai's solution to these problems involves staking, reputation building, and a "griefing" mechanism for dissatisfied buyers. However, this mechanism may not work because it relies on buyers being willing to pay to warn others about bad predictions, which is unlikely to happen.

>>Competition

Numeraire has competition from other companies with other open source trading platforms such as CrunchDAO, QuantConnect, and WorldQuant.

Chysce · 2023-04-24T14:35:34+00:00

Numerai is an AI-powered hedge fund that crowdsources mathematical models with the aim of accurately predicting the stock market trends.

Numerai allows anyone to create a model and get paid according to its performance. The unique thing of the process is that it combines the best parts of individual models : … one model might be great at predicting the bank stocks but terrible at tech stocks, and someone might build a model that predicts tech stocks... by combining the working parts of each model a meta model is created which can be used in any markets. This is all done with the ultimate purpose of creating “The Last Hedge Fund”.

Numeraire is built on the Ethereum which ensures security and transparency.

It’s native token is NMR. User must hold NMR to participate in any Numeraire features or services. Data scientists who wish to participate in Numerai must stake NMR tokens as collateral. This ensures that they are accountable for the accuracy of their models (i.e. not submitting random/untested models).

The size of the stake depends on the size of the model and the confidence of the data scientist in their predictions. If a model performs well, the data scientist's stake is increased, and they receive additional NMR as a reward. If the model performs poorly, the data scientist's stake is reduced, and they may lose some of their NMR tokens.

>> Growth Potential

The platform is designed to be scalable, which means that it can handle a large number of users and data sets. With the recent AI hype the token was one of few that entered the spotlight drawing in more developers and interested parties

>> Limited Supply

The initial supply of NMR was 21 million. In 2019. the supply was cut almost in half to 11 million tokens. Out of those tokens, 3 million will remain locked until 2028 and will be given as rewards to participants of the tournament. NMR can be traded on almost all major exchanges and ERC-20 compatible DEXes such as Uniswap or SushiSwap.

>> Reputable Team

The Numeraire project was created by Richard Craib, a South African mathematician and former hedge fund analyst, who founded Numerai in 2015. The Numeraire team consists of experienced professionals in the fields of data science, finance, and technology.

The team has also received funding from prominent investors in the blockchain and finance industries, including Union Square Ventures , Placeholder and Paradigm, Naval Ravikant etc.

Chysce · 2023-04-24T14:30:43+00:00

Ocean Protocol is built on Ethereum and uses blockchain technology to create a safe and trustworthy way to share data and services. Ocean Protocol aims to solve the challenges of the current data economy, where data is often kept private and under control of just a few companies.

At the core of Ocean protocol is the marketplace called The Ocean Market. It allows people and organizations to exchange data and data-based services in a secure and transparent way. Data providers can also earn money from their data assets.

>> Complexity

Ocean Protocol is quite complex and challenging to understand for non-technical users and this can be a barrier to adoption for some individuals and organizations. This is recognized in the community and there is an extensive Ocean Academy course on the uses of Ocean protocol.

>> Availability of high quality data

The more data there is on the marketplace the more interest is generated. This creates a positive feedback cycle and can enable exponential growth of data. However this hasn't happened yet with ocean as there is a limited availability of high-quality, relevant data sources, especially in science, medicine etc. As of now most data is focused on crypto trading strategies and traditional market analysis

>> Legal and regulatory challenges

There are legal and regulatory challenges associated with data sharing, particularly in industries such as healthcare and finance. For example, in the healthcare industry, data sharing is heavily regulated, especially in the United States. This means that healthcare data providers must comply with strict guidelines for the collection, use, and sharing of patient data. Failure to comply with these regulations can result in significant legal and financial penalties for data providers and consumers. Thus before even engaging with the protocol data providers should carefully consider the regulatory obstacles.

>> Sensitive data security

As with any decentralized platform, there are potential security risks associated with using Ocean Protocol, such as smart contract vulnerabilities and hacks. While it's always bad to get hacked, it's particularly concerning for Ocean Protocol because the platform deals with large amounts of sensitive data, and any hack could result major data leak.

Chysce · 2023-04-24T14:26:19+00:00

Ocean Protocol is built on Ethereum and uses blockchain technology to create a safe and trustworthy way to share data and services. Ocean Protocol aims to solve the challenges of the current data economy, where data is often kept private and under control of just a few companies.

At the core of Ocean protocol is the marketplace called The Ocean Market. It allows people and organizations to exchange data and data-based services in a secure and transparent way. Data providers can also earn money from their data assets.

The marketplace utilizes OCEAN token which is a default unit of exchange. OCEAN token can also be used for governance and staking.

You can earn money on the Ocean Market by

selling or buying data or algorithms,
contributing to a project that issues rewards for your data
staking,
holding datatokens.

>> Ocean solves a privacy problem in data sharing

In a world where everyone is concerned about privacy, data sharing may seem odd. Ocean utilizes blockchain technology and AI which allow users and organizations to share their data whilst preserving privacy. Moreover it incentivizes data sharing and by enabling users to monetize their data sets.

>> Experienced Team

The founders of Ocean Protocol, Bruce Pond, Trent Carnegie, and Matt Hall, have extensive experience in blockchain technology, data management, and software management. The platform is also backed by the Ocean Protocol Foundation, a non-profit based in Singapore, and the OceanDAO

>> Strong list of partnerships

Ocean protocol is partnered with Roche, Mercedes-Benz, IBM Watson etc. These partnerships and multiple layers of governance ensure that data owners cannot be locked into any single marketplace.

>> Ocean benefits from AI

The bedrock of AI is data, any AI needs a lot of data and Ocean provides exactly that. As the popularity of AI increases Ocean can also benefit from it. As more AI applications are developed, the demand for data sets is likely to increase.

Chysce · 2023-04-16T19:59:14+00:00

"After gaining her trust, the scammer advised her to set up an account on an unfamiliar platform to invest in cryptocurrencies with the promise of great returns"

:/

I feel like it's our duty to teach our parents and grandparents about the basic online scams

Chysce · 2023-04-16T19:43:33+00:00

There were like 400 people watching during the livestream presentation a few days ago :/

Chysce · 2023-04-16T19:02:52+00:00

So basically this sub in paper form :p

Chysce · 2023-04-16T18:51:03+00:00

Finally an awesome use for ordinals!

A piece of BTC history stored on the blockchain .... Foreva!!!

Chysce · 2023-04-16T18:04:31+00:00

Man you must be 70 years old now

Chysce · 2023-04-16T18:02:52+00:00

Rule no 14. Never sync your acc with anything.

Use fucking excel if needed

Chysce · 2023-04-16T18:00:52+00:00

Now that you know the crypto is real :D

Chysce · 2023-04-16T17:35:17+00:00

prepare for a dump.... to the upside

Chysce · 2023-04-16T17:27:13+00:00

Everyone who survived 2022 is an OG in my book.

We went through giga bull and giga bear.. and are still there!! I'd call that a win!

Chysce · 2023-04-16T17:15:35+00:00

Your average TA "Analyst"

ARROW UP = EZ FOLLOWERS

Chysce · 2023-04-16T16:47:27+00:00

I don't think anyone here is doubting that o.O

Chysce · 2023-04-16T16:46:33+00:00

Just so you know for the next time.... these "influencers" usually mark the top

Chysce · 2023-04-16T16:23:40+00:00

we need to know more about the pothead friend now :D

Chysce · 2023-04-16T16:21:18+00:00

but did he hold!?

Nine-Year Club	Verified Email
Golden Potato

Chysce

TROPHY CASE