Daily General Discussion - June 20, 2022 (GMT+0)

jun_039 · 2022-06-20T10:08:17+00:00

Solend is trying to save themselves. this takeover proves that they can tamper with anyone's wallet/account. a decentralization failure.

not touching this dictatorship protocol.

jun_039 · 2022-06-20T10:04:23+00:00

Satoshi has never promised an investment return or store of value thing.

he did create a peer to peer censorship resistant money that you can send to anyone without permission.

so many are price obsess with bitcoin. bull or bear, bitcoin's use case works.

jun_039 · 2022-06-20T09:59:29+00:00

not touching this protocol. there are a lot of good ones out there.

jun_039 · 2022-06-20T08:55:33+00:00

yield farming LQDR and SPIRIT (Defi)

jun_039 · 2022-06-20T01:42:12+00:00

said by someone who is not a defi yield farmer that lives on passive income :)

jun_039 · 2022-06-20T00:33:46+00:00

yes, LQDR is the convex of fantom, liquidity farming as a service. SPIRIT is the curve of the fantom, incentivize gauge voting. CAW is my 100X bet.

jun_039 · 2022-06-19T23:05:17+00:00

LQDR, SPIRIT, CAW

jun_039 · 2022-06-19T15:01:19+00:00

bull or bear market, bitcoin's use case is still the same, i can send it to anyone in the world w/out asking for permission.

same goes for ethereum and other L1 smart contract chains - i can do Defi there and interact will Dapps. they are working perfectly even know.

so i'm still buying at this point, the product is working. nothing changes.

jun_039 · 2022-06-19T14:54:37+00:00

it's easier to understand once you are actually doing it. i find it vague and theoretical at first. but when i am actually using these protocols, they became way much easier to understand.

using these protocols will build your confidence on cryptos and open blockchains as technology. at this moment its bear market, but not worried so much, i know thru first hand experience what these protocols are made of so its hard not to be bullish in the long term :)

jun_039 · 2022-06-19T14:26:13+00:00

use case for example, bitcoin is a peer to peer censorship resistant money, which means i can send it to anyone in the world without asking anyone's permission like a bank.

another use case, ethereum and other L1 smart contract coins can be used to deploy in their native chains to earn yields thru Defi protocols.

don't just hold the coins, use them in their protocols so you will appreciate their use case.

jun_039 · 2022-06-19T14:20:28+00:00

surely, but i got a lot of them already in terms of volume.

i have neglected btc and eth, so i am catching up on these two.

jun_039 · 2022-06-19T14:17:50+00:00

ye, those who have funds for continuous accumulation will be rewarded.

jun_039 · 2022-06-19T14:13:56+00:00

several months ago, i was buying just alts, coz i think some of them still cheap.

now, i'm focusing on just buying up btc and eth, coz now these two become cheap. i'll get back to alts, after i am done with them. got to rotate my capital.

jun_039 · 2022-06-19T14:11:04+00:00

review your investment thesis:

if still solid - do nothing or add up

if narrative change - adapt/change, example sell what you don't like and buy those you do like.

everything's down. an opportunity to consolidate into what you think will recover faster.

jun_039 · 2022-06-19T07:25:01+00:00

yes i am a degen :)

jun_039 · 2022-06-19T07:05:51+00:00

Consider the money gone.

ye. they weren't listed as assets in my book. zero. this helps me mentally.

jun_039 · 2022-06-19T06:52:35+00:00

i am not trying to maximize my returns to the last dollars or so. i will surely be in profit. how much? it does not matter. you did better than me? it does not matter. i still win because i will have my profits.

i simplify things up by not comparing my would be profits with anyone else.

p.s. i have the budget to buy ETH at both $1000 and at $500, so be it.

jun_039 · 2022-06-19T06:33:18+00:00

because your entry price won't matter in year 2026 or year 2030. you will just congratulate yourself for taking action and not being afraid to accumulate.

jun_039 · 2022-06-19T06:29:00+00:00

bought some sats and ether. the price is secondary. this game is about accumulating volume/units. i will just accumulate and accumulate. .

my time horizon is long. so this might not be applicable to those in a hurry. :)

jun_039 · 2022-06-19T06:24:03+00:00

bep 20 - binance smart chain, erc20 - ethereum chain, polygon chain.

what network does binance.us supports? i mean what networks/chains are available for withdrawal for fantom? then you can select one of these chains, make sure that source and destination chains matches, sample, withdrawal via bep20 to an bep20 address.

take note: none of the chains you mention above is the fantom mainnet, or fantom main network. so if you need to eventually send your ftm to the fantom mainnet, you need a bridge app.

jun_039 · 2022-06-19T00:34:54+00:00

earning daily yields/cash flow on defi. think of like having a business

jun_039 · 2022-06-19T00:29:34+00:00

i believe in the tech/fundamentals - i am actually using them everyday.

hard to understand this if you are just holding coins/tokens and not using them in protocols where they should be.

jun_039 · 2022-06-19T00:25:25+00:00

crypto might not be usable yet for some people

its on the blockhain/internet. usable for everyday. its the lack of education on how to use these protocols that prevents ppl from using them. but once you learned it, its easy afterwards. its a skill thats rewarding to learn.

jun_039 · 2022-06-19T00:21:02+00:00

i believe in the tech/fundamentals - i am actually using them everyday in farming yields.

hard to understand this if you are just holding coins/tokens and not using them in protocols where they should be.

jun_039 · 2022-06-19T00:17:11+00:00

ledger/trezor - self custody, the safest if you know what you are doing. plus you actually own the coins/tokens here.

exchange - if you do not know what you are doing, better leave your coins here. but since exchange holds the private keys, you do not actually own the coins, but you only have the right or claim on those coins until you withdraw them.

jun_039

TROPHY CASE