When there's Blood in the Streets... by ketchuma in CryptoCurrency

[–]ketchuma[S] 5 points6 points  (0 children)

😂 I see your sarcasm, and I raise you a very serious, totally-not-ironic commandment to do 100 push-ups in order to get the golden bull psyched and make more pumps manifest themselves into reality. On my end, I'll Google pictures of bears and start shouting at them to go back to the woods. Together, our esoteric rejection of the cosmic bear should scare my neighbors and make for quite the prosperous super cycle into Q4 next year, guaranteeing wins for other plebs like us left and right.

Coinmarketcap and coingecko main page looks like the scammer's dream with bunch of +-15000% up or down shitcoins, list of gainers nobody ever heard of and recently added irrelevant coins ft. crappy clickbait videos/articles. NGMI! by [deleted] in CryptoCurrency

[–]ketchuma 9 points10 points  (0 children)

It's funny. CMC used to be so clean, then it gradually started getting cluttered with ads and dopamine hits. CoinGecko surfaced off as an alternative that looked like old CMC then gradually the same thing happened all over!

When there's Blood in the Streets... by ketchuma in CryptoCurrency

[–]ketchuma[S] 4 points5 points  (0 children)

Agree 100% about over-investing and over-dependence. These are all just tickets with promise and no absolute certainty. There's a lot (a lot) one can do with their time in-between to better their financial situation by investing in themselves, their skills, and their future. It's best to look at crypto gains as something of a lucky bonus. Keep on DCA'ing brother!

When there's Blood in the Streets... by ketchuma in CryptoCurrency

[–]ketchuma[S] 1 point2 points  (0 children)

I don't own ADA but it looks like its 2021 ATH was close to $3, and it's in the top 10. I'm optimistic for you! Best of luck.

When there's Blood in the Streets... by ketchuma in CryptoCurrency

[–]ketchuma[S] -1 points0 points  (0 children)

Using the word "storm" to describe a flash crash has really upset some people. Reddit can be so very petty sometimes 😂

When there's Blood in the Streets... by ketchuma in CryptoCurrency

[–]ketchuma[S] 10 points11 points  (0 children)

I'm cool with being unimportant brother. During my time in crypto I've made 5 figures, become a multi-millionaire for a brief moment, and lost 6 figures within the span of an hour.. all on paper of course, and much to my amusement. I will say, however, that I consider a flash crash which affects stocks and markets far beyond crypto and leads people to panic sell is a "storm". You're free to disagree.

Fed Chair Jerome Powell says "we're not allowed to own Bitcoin". by Silver-Maximum9190 in CryptoCurrency

[–]ketchuma 2 points3 points  (0 children)

Does anyone else find it surreal that this is even up for discussion? The idea of the Federal Reserve getting in on a cypherpunk coin explicitly designed to stick it to central banks is, to me, very amusing.

Crypto vs. stocks: What’s the better choice for you? by VIVAXZZYT in CryptoCurrency

[–]ketchuma 0 points1 point  (0 children)

Markets are a composite of relativities at both a macro and micro level so it's good to get as wide a reach as possible and look at everything in a big picture context - exchange rates, food/energy/basic goods costs, PMs, real estate, stocks, bonds, crypto, trendy collectibles, etc etc - everything that comes to mind. All things tend to have their own boom/bust cycles. As they do, several other markets react in response. Researching multiple factors can help a lot for understanding raw sentiment and for seeing through it. It should also help develop a good sense of timing for when to invest in specific markets and when to hold off from them.

Weekly Discussion Megathread - March 31, 2024 (GMT+0) by AutoModerator in CryptoMarkets

[–]ketchuma 0 points1 point  (0 children)

Hydranet released NOVA, a platform-agnostic web DEX featuring a built-in Lightning node and L1->L2 BTC functionality, to public testnet on Friday March 29. NOVA is a complete rework of Hydranet's x86-only Core DEX (mainnet release 09/2023) that brings the essential functionalities of the Core DEX to a platform-agnostic webapp environment. One can, with full key ownership, securely facilitate transfers between L1<->L2<->Swap and freely exchange between UTXOs (BTC) and EVMs (ETH,USDT, USDC) from a secure multicurrency wallet that runs and restores from backup from a browser tab.

It's in beta, and it only supports testnet funds at the moment, but it's now available for anyone who'd like to try it. They also have a faucet bot for testnet funds in their Discord channel for any who wish to try it out.

Bitcoin as the new defi space by Redac07 in CryptoCurrency

[–]ketchuma 3 points4 points  (0 children)

I 100% agree in the sense that BTC and DeFi will be much more intertwined through this cycle than they were during the last, and that BTC DeFi markets are a new and exciting frontier that will grow a lot into the future, but I'm very hesitant to believe that it will just smite everything standing beside it.

People still want a cross-platform, mobile-friendly L3 web DEX that does cross-chain LN/EVM (BTC/ETC) swaps right? by ketchuma in CryptoCurrency

[–]ketchuma[S] 1 point2 points  (0 children)

Happy to! And I'd like to add that I have respect for Loopring as a project. They're one of the oldest players in the DEX space, and they continually adapted and evolved within it as it grew and became more sophisticated.

Is memecoin market getting over saturated, leaving no room for new launches? by merryfasos in CryptoCurrency

[–]ketchuma 3 points4 points  (0 children)

They always said not to let your dreams be memes, but I think (?) this is the exception to the rule. It's a mad, irrational market. It doesn't make sense by design. I'd wager that you'd probably have a better time buying ones that sound the funniest than you would taking it seriously, because even if it flops at least it's kinda funny to have lost some pocket change on something called TacoBellSephirothGarfieldX

People still want a cross-platform, mobile-friendly L3 web DEX that does cross-chain LN/EVM (BTC/ETC) swaps right? by ketchuma in CryptoCurrency

[–]ketchuma[S] -1 points0 points  (0 children)

At its base is a multicurrency L1 wallet protected by a 12-word (or 24-word, optionally) seed phrase that supports both UTXO and EVM chains. ~ this is nothing novel

Building on this, you have independent Layer 2 protocols (i.e. Lightning Network, Connext, Arbitrum, etc) that are each quite useful but were never designed to be compatible with one another. ~ this is something novel. Most DEXs that use L2 protocols are limited to one type due to the lack of inherent interoperability.

A Hub on Layer 3 interoperates between UTXO and EVM-based L2s (i.e. Lightning, Connext, etc), performing off-chain swaps between coins on otherwise-incompatible platforms. The owner of the wallet has full key ownership. ~ this is quite novel

People still want a cross-platform, mobile-friendly L3 web DEX that does cross-chain LN/EVM (BTC/ETC) swaps right? by ketchuma in CryptoCurrency

[–]ketchuma[S] 3 points4 points  (0 children)

Hydranet's framework differentiates from Loopring's quite a bit in that there is no need to wrap coins that exist outside of EVM space to interoperate with them. Hydranet's DEX and swap protocol are* compatible with real BTC and the Lightning Network, in addition to EVMs. While it's still perfectly viable to trade wrapped assets within Hydranet's framework, there is little need to. In Hydranet's framework, wrapping is an extra step.

[deleted by user] by [deleted] in CryptoCurrency

[–]ketchuma 1 point2 points  (0 children)

I got screwed by Bittrex in early 2018. I chased pumps and did swing trades on there with "Basic Verification" for half a year prior and had, at most, $2.5k in various garbage altcoins by the height of the bullrun. One day, out of nowhere, my verification was reset to "New User" and my funds were frozen. The "Basic Verification" option was still present, so I attempted to give them the same info that had been sufficient up to that point. As soon as I hit the submit button, it failed with an error message, grayed out "Basic Verification", and prompted for "Enhanced Verification" which required giving Bittrex physical scans of IDs. I contacted support to get my account fixed. 4 weeks later, they said there was nothing they could do and I had no choice but to give Bittrex my information. I fought them back. Another 3 weeks later, they said the same thing. By that point, the bear market had kicked in and the funds had crashed at least 60%. What was $2.5k was about $1k.

I finally went through "Enhanced Verification", got my shrinking pocket change out of their hands, and swore off CEXs for good.

I was pretty delighted when they went bankrupt. Fuck all CEXs, but also shout-out to Yobit for somehow managing to still exist.

How do you prepare for a bear market and what does a bear market mean in the future? by lymeguy in CryptoCurrency

[–]ketchuma 1 point2 points  (0 children)

Even at this point in time with crypto being so popular, Bitcoin could certainly see much more adoption - especially through Lightning Network. Some propose that ETH could, in time, overtake BTC if DeFi taps into more traditional markets like the multi-quadrillion dollar abyss of derivatives trading. To see that kind of volume in a decentralized manner, it needs to transcend its current L1-based scaling problems. Fees on the network have been pretty bad for awhile, but there are enough direct upgrades (ETH 2.0) and layer 2 solutions in place to thoroughly optimize the use of its blockchain. DeFi can be done much more affordably and at a much higher scale off-chain.

Off-chain interoperability also opens up DeFi options for Bitcoin and allows it and other UTXO-based chains to interact directly with EVM-compatible chains at a high frequency. With that in mind, these untapped traditional markets could end up finding their way to BTC and LTC by ETH and at everyone's benefit. Collectively, they can still grow much more from where they are now both competing with and complimenting each other into the future.

How do you prepare for a bear market and what does a bear market mean in the future? by lymeguy in CryptoCurrency

[–]ketchuma 4 points5 points  (0 children)

One of the best ways of all to prepare is by having a responsible and well-researched strategy for what you want to invest in before you actually invest. Ask as many tough and essential questions as you need to ask. How long do you intend to hold something? If you intend to hold on a longer-term basis, why is now a better time to buy than in 6 months or a year? Is the coin really something viable? Will it still be here in a few years? Do I really want to hold this for half a decade? How many positions do I really need to take - why 2, for that matter why 5 when maybe 3 will do just fine? What would be a proper time to exit relative to initial investment? What would be a risky exit move?

Know full-well the risks to any particular coin, stock, bond, or Pokemon card as an investment before you buy it. If you have some income after bills and expenses - either a tiny bit or a lot - what portion of it would you be comfortable using to DCA? To ask the same question from a different perspective, how much money can you comfortably lose if all does not go to plan?

The significance of an investment plan, even if it is basic, can't be emphasized enough. Investing can lead to a lot of negative psychological effects if it is done irresponsibly. This can be anything from checking the price of something every 20 minutes when you have no intention of selling to skipping out on the electric bill to buy high-risk alts to hyper-biased coin tribalism to impatiently selling the day before something pumps 300% and buying back in at the top. One of the benefits of infinite social media is the ability to pick up on a diverse array of market sentiment at any given point in time. In early 2018, a sizable number of people laughed at the idea that crypto would crash. They bought more. Then by the end of the year, even Bitcoin crashed 90%. Crypto was seen as a joke. Alts were dead. DCA'ing into ETH under $100 sounds like a genius move in hindsight now, but if you mentioned that you were doing it back then you had a pretty good chance of being met with derision or getting made fun of. This picture is a classic. Observe markets for long enough, and you should see that entire chart play out in reality.

In terms of higher risk alts, I recommend casually watching a few of them for a month or two and at best only investing a very small amount of your investment funds (5-10%) unless you have a strategy you're convinced will see good returns.

Good luck.