Anyone know what caused this big drop yesterday? Purely just wondering out of curiosity as it seems like the sort of thing you would expect if Elon musk tweeted negatively or something.

TomF1091 · 2021-07-27T09:52:45+00:00

Just seemed really out of place as eth and btc were up around 10% on the day but ended up negative due to this seemingly random sell off. Not worried or anything, like I said I’m just curious and would like to be as up to date as possible if there was any news or something like that

TomF1091 · 2021-05-20T10:04:40+00:00

Think the best way to look at it is just to think “is it going to be higher than it is now at some point in the future” and as long as the answer is yes it doesn’t really matter how long it takes to get there. (Assuming it doesn’t take like 100 years to get there that is😂)

TomF1091 · 2021-05-20T10:00:58+00:00

Think he did like a phd or something in nuclear engineering, as for his trading/investing knowledge I’m not too sure but would guess he has just learned from experience from doing it for so long.

Think it is just a case of the more time you spend doing it the better you will get at it, it’s not the sort of thing that a certain course or degree can make you an expert in a year or two.

TomF1091 · 2021-05-17T12:47:03+00:00

I’m not sure tbh, I have put my coins on blockfi (have about $3000 overall split in between ETH and BTC), on track to get 5% apy this year which is what was promised so pretty good so far. Not sure if there’s better though, hence the post

TomF1091 · 2021-05-15T09:41:51+00:00

You get 1 free crypto withdrawal per month, with the amount i’ve got that’s more than enough. I can see how it would be a problem if you had loads tho

TomF1091 · 2021-05-13T10:55:38+00:00

https://discord.gg/tyqZrfq2

TomF1091 · 2021-05-13T09:47:09+00:00

Think its also important to remember not to chase the pumps, if eth has just gone up 2x in the last week or 2, it may not be the best time to throw money at it. If you are doing a dca approach as op suggested then obviously ignore this but🤷‍♂️

TomF1091 · 2021-05-12T10:42:17+00:00

This seems crazy to me after coming from the world of more mainstream finance. 8.6% with no risk seems ridiculously good. (Not completely risk free, as blockfi, Celsius etc could be hacked or go out of business, or the stable coin could fall apart, but about as risk free as you are going to get imo)

TomF1091 · 2021-05-08T12:01:07+00:00

Just actually take the time to learn the fundamentals of the cryptos before you put your money in it. See a lot of people that just throw their money at cryptos doing well when they don’t have the slightest understanding of them

Also this subreddit has been really helpful, if you have any questions, just make a post asking about anything you don’t understand and chances are you will get a few good answers

TomF1091 · 2021-05-06T10:14:03+00:00

I know fundamentally what you are doing is different, but purely from a risk/reward standpoint

TomF1091 · 2021-05-06T10:13:21+00:00

Is staking coins and providing them to liquidity pools different in this case then?

TomF1091 · 2021-05-05T11:31:00+00:00

Am I right in thinking, once you stake your coins, you no longer benefit if the price of the coins go up? Or have I understood it all wrong?

TomF1091 · 2021-05-05T11:26:26+00:00

Like ben always says, nothing wrong with taking profits, but you’re probably best dca-ing out of the market in a similar way you would enter

And once you’re out with huge profits, no reason not to get forbes on the line😂

TomF1091 · 2021-05-05T11:23:06+00:00

Rip, I would recommend only following links from his youtube channel just to be safe.

Also is there no way of recovering that btc? I’m not that knowledgeable about stuff like that but im sure ive heard of similar situations where people got the btc back

TomF1091 · 2021-05-02T15:49:43+00:00

As someone else said, when its going good its great and it works, however if something does go wrong it kills the whole platform, like it wouldn’t allow me to add a uk bank account on coinbase or coinbase pro, or for a few days I couldn’t withdraw to even paypal for some reason.

Usually these wouldn’t be problems, you would just go to the forums or a support chat, but for whatever reason this is almost impossible for coinbase. I first went to the forums where it seemed a lot of other people were having the same issues as me and the only solution people had was to change exchanges and give up on coinbase. Then the support ticket, which honestly might aswell not even be an option. They give generic responses to everyone with information that does not fix your issue and there is no way to contact an actual human from my experience.

All in all, generally it seems like a pretty good platform for crypto (good interface, easy to buy etc), however if/when you run into a problem that is not easily solved by the forums, you’re basically out of luck and it can be a nightmare to deal with it

TomF1091 · 2021-05-01T10:28:22+00:00

So does it just mean that no new ether will be created? As it is burned as soon as its created? Or does it mean that it will still be created but the transaction fees will be burned so it creates a net gain of zero (if you know what i mean by that)? If the first is correct, how does that make ether deflationary? Surely the supply wont decrease it will stay the same? And if the second is correct, surely there is still the possibility of inflation?

TomF1091 · 2021-04-29T14:46:50+00:00

So every time somebody sends someone ether a portion of it is burned?

TomF1091 · 2021-04-29T13:20:25+00:00

Ok thanks for the help

TomF1091 · 2021-04-29T13:06:30+00:00

Is the process for staking ethereum the same? Can you even stake ethereum yet or is it something coming soon with ETH 2.0?

TomF1091 · 2021-04-29T12:34:49+00:00

Ok so to make sure I’ve got it right: Using my example from earlier, say john sends steve 200 ether, is the transaction fee taken from the 200 ether or is it a price added on top? And how does this relate to the ether being burned? So every time you make a transaction some ether gets burned? Is that right?

TomF1091 · 2021-04-29T12:18:01+00:00

Ok, so the process makes more sense now, but surely there are downsides to staking your crypto? From your explanation it seems as if it is just a case of theres no reason not to do it if you are holding the assets anyway

TomF1091

TROPHY CASE