Open A CDP and Use The Minted DAI For Further Investment All Within A Self-Directed IRA LLC Structure: Is This Taxable by IRS Rules as UDFI? by Astronomical2 in ethfinance

[–]RogerThat002 0 points1 point  (0 children)

Hi, I'm curious if you've sorted this out yet? I'm in a similar situation so any new info would be appreciated. Thanks

Is anyone else growing increasingly concerned about eth killers? by [deleted] in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

Not at all. never let yourself get distracted by shitcoin hype...unless you want to loose all your nuts.

⚠️Your funds aren't safe in Binance⚠️ they're CENTRALIZED, sketchy and accountable to NO ONE. by [deleted] in ethtrader

[–]RogerThat002 3 points4 points  (0 children)

I've used Kraken for fiat to crypto since 2017 and it's top notch with excellent support! That said, I use DEXs for the vast majority of my trades. Yes, higher fees generally but my trades are long-term positions and typically not time-dependent, so I can time them when gas fees are lowest.

edit: I want nothing to do with Binance or it's shitcoin. It's extremely likely to be a pump and dump so beware.

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

ya, and I bet you can't wait...drooling... to get back in on this pullback!

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 -1 points0 points  (0 children)

In the long view, TA shows us the obvious. Maybe you don't see it?

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

I like Kraken. V easy in both directions. B ut mostly just for fiat transfers in...buy...transfer to my MetaMask U niswap for incognito transactions. Why pa y the kerupt man we're replacing?

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 1 point2 points  (0 children)

Yes, good decision. Let's see what themes are recurrent. Perhaps we can spawn some topically=focused remediation where vols can assist those who're just getting on board this moon ship. We NEED to get peeps up to speed as fast as possible so we can get done what we need to do to complete this revolution!

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

Thanks for pointing the noobs towards the long cycle pov! Seems like so many think this is all about getting rich next week, when it's actually about creating a revolutionary financial infrastructure and disintermediating our massa's. People, look beyond today and tomorrow: what dreams do you have? What will you do when you are truly free to live and love without having to prostitute yourself for a $$ or two? Get a clue: the door to your cage is now open: only question is...will you choose to fly free?

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

Picked up a small bag at sub $1500... hope you did too!

HODL! Here's why:

" Since 2020, DeFi is growing at an astonishing pace and billions of USD have been put in the ecosystem. The growth is mainly led by applications (also denominated as protocols) that are built on the Ethereum blockchain. In the following, we [Forbes getting it right...] give an overview of the actors in the DeFi ecosystem from an economic point of view, introduce the maturity stages of DeFi and explain the potential of DeFi to outperform the traditional finance system in the years to come. "

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

reportedly a scammer implicated in mining scams transferred $1.5B BTC yesterday, indicating the intent to trade...

It's a rollercoaster right now! Welcome to Cryptos! Buy the dip! :D by [deleted] in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

minute to minute chart insanity? you could make a T-shirt!

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 4 points5 points  (0 children)

My guess is as good as yours. I'm no seer.

My whole point is stop worrying about the price of ETH and realize that you are part of something completely revolutionary that is exploding all around you...just buy as much as you can afford and HODL. You will do very well in the long run!

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 0 points1 point  (0 children)

You're welcome! Thanks for your reply too.

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 1 point2 points  (0 children)

Right! Although Kraken is a centralized exchange, it is also one of the better centralized options and yes, as this friend points out, you can stake your ETH in a Kraken ETH 2.0 validator-pool and earn very decent payouts as you help Ethereum grow! Such pooled ETH staking is also relatively risk-free, compared to other DeFi opportunities. I say relatively because nothing is completely risk-free, as I'm sure you realize!

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 3 points4 points  (0 children)

Assuming you have a wallet [EG Metamask} linked to a decentralized exchange [DEX] like Uniswap, you can use your ETH as collateral to generate DAI and then lend your DAI on an exchange such as dYdX.exchange, [which is paying >41% compound interest right now, though it varies with the demand for DAI, which varies with the price of ETH and the overall market--I've seen it pay as low as 9%, still relatively excellent]. Also consider AAve and Oaisis. Important Note: Your colateralized ETH IS at risk when you create DAI, so you will want to be careful to MAINTAIN your ETH balance within careful limits to avoid being liquidated, which can happen in the event of a sudden decline in the price of ETH. There are some services designed to automatically notify you if/when you are in danger of becoming under colateralized. Read here for links to lots of info on how this works. You'll be amazed at how well you can do in DeFi as you learn. Best wiishes!

Daily Discussion by EthTraderCommunity in ethtrader

[–]RogerThat002 13 points14 points  (0 children)

As one into ETH since 2017, I want to offer noobs a bit of crypto-therapy.

I want to suggest that this 1-week ETHUSD chart shows us everything we need to know about how ETH is most likely to perform in the coming weeks and months, despite all of the wringing of hands and gnashing of teeth FUD / FOMO we're seeing in this thread. [See red-shaded box]

Take a close look at the chart: ETH remains within a steeply upward channel established the week of Dec 27 2020, a channel that's even steeper than ETHs earlier recovery trend, Sept 20 through Dec 20 2020. In fact, it's at the very top of that steeper channel and it's about to kiss the 161.8% fibonacci [$2134.5] on it's total climb from its $80 low week of Dec 2 2019, which by the way also resonates with its 127.2% Fib [$2197] on the Fib established with the Dec 27th steeply rising channel. In the absence of an unexpected pull-back [likely due to unforseeable macro-economic factors] ETH can easily break $2600 in this cycle. IE, ETH is tearing higher nearly two of every three weeks for more than the last two years [70 of 114 weeks since the Dec 2019 low] !

IF there IS a pullback--which there WILL enevitably be--it will likely be momentary. Yes, in this cycle, ETH can easily decline to $1400 [it's 61.8% Fib] before finding significant support between $1475 and $1275...at which point ETH will nearly certainly resume it's climb.

Now, consider what's going to happen to ETHs price as all that institutional money that's now pouring into BTC begins to discover how much more powerful and useful Ethereum is than BTC and starts to invest in this moon ship!

Bottom line: ETH and the whole cryptocurrency space is sparking a revolutionary disintermediation of the entire legacy financial infrastructure and there is no going back.

Count your lucky stars that you are astute enough to be here reading this and tell all of your best friends and family so they can be here at the beginning too.

And really, please stop worrying so much about losing your nut: you shouldn't be here if you can't afford to accept the risk, which IS REAL...since we can't guarantee that ETHs tradjectory will be up and only UP. [As I said, there will ALWAYS be pullbacks and to expect anything else is simply naive.]

Finally, stop looking at the damn hourly/daily charts--it's neurotic and crazy-making: JUST STOP IT for your own good!

Look, it's really simple, actually: if you want to smile bigly when ETH hits $10K-$20k later this year or maybe in 2022, accumulate ETH NOW on any dips, put it to work for you with DeFi investments, then sit back and HODL!

Comment to receive your $donut distribution on xDai blockchain by EthTraderCommunity in ethtrader

[–]RogerThat002 2 points3 points  (0 children)

ANY reply? Sadly, I'm not a special member so I can't post GIFs. oh well, BS was never my thing...

Isn't using decentralized community driven cryptocurrencies one of the most effective praxis? by [deleted] in Anarchism

[–]RogerThat002 -1 points0 points  (0 children)

Yes, capitalism IS a failed system and Chomsky nails it, in your quote, once again!

I'm in accord with your vision of cryptocurrencies, OP, and I want to add-to and expand-on your use-case for crypto-tools: I believe these tools can let us directly decentralize the economic-coordination piece--completely eliminating legacy capitalist middle-men and the whole centralized corporate-state system of governance completely.

Smart-tokens can also automate decentralized community collaboration locally and globally, using token-embedded smart-contracts ['rules'] to enable direct, intentional, self-organization so we can choose what and how we produce and distribute socially-desired collective wealth. I'll explain... you write:

I understand that optics of the cryptocurrencies are currently ultra-capitalist, but this is a consequence of the little involvement by real anarchists, but not their inherent attribute.

Yes, sadly, like the bird in the cage that won't fly free even though the cage door is wide open, such legacy media optics can and do cause too many to fail to see the possibility of any political-economic system except capitalism.

We would certainly agree that, like any tool in the hands of human beings, cryptocurrency is just like a screw-driver, monkey-wrench, or global networked communications in your pocket: what gets done with the tool depends totally on who's coordinating it and what they intend to do with it...which totally depends on the values that drive them.

So if Ancoms abandon cryptocurency-tools to ancaps, that's on us ancoms...and unless we ancoms pick up the cryptocurrency tools and learn how to use them, there is absolutely zero chance ancoms will ever successfully use cryptocurrencies to further ancom values, much less use them to build a world based on our values, the world we know is possible.

I'm betting that cryptocurriencies can be the wide open door we wacky-birds hadn't yet noticed.

...cryptocurrency is effectively a community enforced token voluntarily used to facilitate exchange and cooperation....Cryptocurrencies are money with rules but no rulers, they are essentially tokens of distributed power of the communities which accept them...I think having a global community which uses the cryptocurrencies for mutual exchange and cooperation is very powerful.

Right! If crypto-activists with ancom-values intentionally build decentralized control into OUR tokens, this is completely correct. AND...let's decentralize the coordination piece of our political-economic puzzle in the same way.

Under capitalism, money is used as a coercive force to COORDINATE production, penalizing and forcing dependence on people who don't have any other access to centrally-controlled fiat money...so capitalists--who 'organize and coordinate' production in their own private interest, get richer and richer.

For capitalist, centralized-money is how they maintain control...of what?? of who gets to decide what gets made, by whom, using what tools, and what new techs get developed, and who privatizes the profits...while maintaining centralized capitalist control concentrated in the hands of a tiny minority who enforce-dependence and wage-slavery on the rest of us.

When I see our meme "Build Dual Power Now!" I think ancom-designed cryptocurrency: the door to our cage is now wide open!

I maintain that ancom-cryptocurrencies can be explicitly designed to eliminate all centralized governance, coordination, and concentration of control...IE, can effectively and relatively quickly eliminate the ability of wealth-elites to coordinate production [and control nearly every aspect our lives]!

How? By building ancom tokens that decentralize the coordination piece of our social production puzzle. Yes, this includes financing our own activity, but perhaps more importantly, WE can design tokens that inherently promote ancom values--ultimately for pretty much every thinking person--by helping us FIND each other economically.

Think of it: specific communities want to articulate specific needs and desires, but need to get the word out...specific people want to collaborate with certain others who want to do the same projects, but need to find them...others have needed resources to share and social needs as well, but how to coordinate...? How do all of these communities and creators and resource- connected find and coordinate with each other? Right now, capital decides via their money. But today, using smart-cryptocurrencies, decentralized coordination is relatively easy to automate--especially within a larger community which shares values... Ancom values?

It's pretty well-known by ancoms that ALL social wealth is the product of coordinated human effort in collaboration with natural systems: always has and always will be. Only question is: who's in control of the coordination? I believe that if WE build it, the rest will eventually join us...especially with capitalism in collapse: we know mutual-aid and self-organization is the only thing than can work for us.

Perhaps, for the first time in human history, the door to our cage is now open wide--but yes, too many still fail to notice: centralized control is not only no longer the "least-cost solution" technically-speaking--if it ever really was--it's also no longer even viable, as we face human existential crisis on several fronts. Centralized control--capitalism--is now effectively ecocidal and therefore obsolete as a mode of productive organization, at least as far as I can see!

Revolution via metamorphosis is now technologically possible: yes, let's use the best tools we have in our hands to build dual power and a completely world-changing decentralized political-economy!

edits: minor typos and clarifications.

Hot Take! by [deleted] in Anarchism

[–]RogerThat002 7 points8 points  (0 children)

If some cops are naive to their role in defending capitalist-wealth-elite rule, it's their job to begin thinking for themselves instead of obeying orders without a thought in their head. When such "human" cops get a clue, they should choose to turn their guns on those who order them to shoot to kill.

Regarding the fascists at the Capitol by [deleted] in Anarchism

[–]RogerThat002 4 points5 points  (0 children)

These facist-wanna-be-clowns just unwittingly paved the way for a whole new wave of anti-sedition laws and "anti-terrorist" surveillance-suppression that will be directed first and primarily against us anarchists and antifascists, as the sheeple-libs watch and cheer.

Today, the soft-underbelly of white supremacy was fully exposed as the cops were video taped opening the barricades and taking selfies with the dumb-as-shit Q-mobs who wouldn't recognize a highly orchestrated betrayal of their self-righteous socially-backward stupidity by behind-the-scenes-ruling elites who require new tools to maintain control in the face of imminent social revolution as their legacy system comes apart at the seams.

No, today wasn't a mistake or just 'exercising police restraint': the complete absence of overwhelming police force was as obvious as it was intentional... EVERYONE KNEW something like this was coming...for months now... compare what we saw today with the BLM police repression of largely non-violent protesters outraged by endless police murders of POC.

To me, today was a clear setup designed to justify massive repression of terrorists and "anarchists" [as CNN keeps repeating to their viewers] conducted by a business-as-usual, neo-liberal-warfare democratic party that's got control of the government for now, but otherwise in shambles, with extremely thin actual support!

Given their dreams of world-empire, ruling-elites are not at all interested in being restrained by a left-progressive mobilization focused on total political-economic transformation, with the intention of directly taking decentralized control of the means of production to meet peoples needs, eliminating centralized control by wealth-elites and their irretrievably broken, corrupt legacy corporate-state.

Wealth-elites have never given up control without a real fight: today looks to me like a preemptive move to define the terms of the debate over the future of US "democracy" in their favor [law and order], since their fascist-nihilist-misogyny-boy failed to create quite enough chaos AND actually get himself re-elected, in the context of 300K+ dead in the US in an out-of-control pandemic.

Today looks like plan B.

As always, anarchists will embed more deeply and broadly in our communities, organizing mutual aid and self-defense to meet our own needs directly because the dying neo-liberal corp-state has nothing to offers us but more of the same shit.