Cryptotrading

Doohickey

Velociraptor
Messages
2,496
With the collective’s wide experience I wondered if anyone had had any dealings with Terra Markets both good and bad.
We are exploring whether to invest with them and as you would expect what they are saying sounds almost too good to be true.
DM if you’d prefer.
TIA
 

stindig

Member
Messages
446
19.45% is a great deal and I’ve been in it for a year + with no problems. However Luna/Terra is an algorithmic stablecoin, rather than one backed by the dollar such as USDC. Many previous attempts at algorithmic stablecoins have lost their peg and crashed, so I would perhaps not go all in. Having said that, Do Kwon, who owns Terra, has recently bought $1.5BN of Bitcoin to back the stablecoin (although there is $29BN locked in Terra, of which $16BN is in Anchor, so it is far from all secured).

Personally, I think it’s a fantastic deal, but I wouldn’t put more than 10% of my capital into it - just in case
 

stindig

Member
Messages
446
Yup - down to 66c last night, but now back up to 92c. And that is why you can’t trust algorithmic stablecoins.

Only USDC is truly safe because it’s backed 1-1 with the $
 

AKCH01

Member
Messages
168
I've doubled down on a lot of my positions, also staked a large percentage of my tokens with various L1 chains and dApps. Some super interesting protocols on Solana returning good APY.
 

whereskeith

Member
Messages
821
I read the USA is thinking about banning stable coins, adding more KYC on crypto.. basically getting ready for the CB backed digital dollar
 

stindig

Member
Messages
446
I too have everything staked at the moment. Hopefully the staking rewards will see us good when everything goes back up.
 

stindig

Member
Messages
446
I read the USA is thinking about banning stable coins, adding more KYC on crypto.. basically getting ready for the CB backed digital dollar
All countries are looking to regulate stablecoins because government bonds cannot compete. It’s for your own good……!
 

AKCH01

Member
Messages
168
Sol, algo, eth, dot, luna.
Also a few NFTs, 2 have been already flipped at above floor, others haven't done so well but maybe they'll go somewhere (probably not though xD)
 

AKCH01

Member
Messages
168
In my opinion only proof of stake chains will prosper, proof of work will be regulated. I'm investing in the chains, the currency is a by product of the utility of these L1 chains
 

Wattie

Member
Messages
8,640
I'm going to be in Amsterdam tomorrow; I hear that tulip bulbs are a great investment with returns of over 20%. Should I invest?
If you’d bought said tulip bulbs at 1-1000 and they went to 65000 and then fell to 30000 I’d suggest you’ve done ok.
Whether you wanna buy at current tulip bulb prices remains to be seen- you may end up with a pile of manure. (40% of tulip bulb holders are currently in the manure)
 

Nayf

Member
Messages
2,734
In my opinion only proof of stake chains will prosper, proof of work will be regulated. I'm investing in the chains, the currency is a by product of the utility of these L1 chains
I would agree with this. PoW is only going to become less cost/time effective due to Bitcoin's inbuilt processes, and from a political/environmental point of view, more untenable.
 

stindig

Member
Messages
446
Why is everyone so up in arms about PoW electrical consumption? It uses less than gold mining, less than banking, indeed less than the tumble driers in the world. Besides, devices are only as green as the electricity they use. So if you charge EVs, which everyone hails as saving the planet, from a non-green energy source, it's not green at all. If you power a Bitcoin mine from a hydro plant, it's 100% green.
 

AKCH01

Member
Messages
168
Why is everyone so up in arms about PoW electrical consumption? It uses less than gold mining, less than banking, indeed less than the tumble driers in the world. Besides, devices are only as green as the electricity they use. So if you charge EVs, which everyone hails as saving the planet, from a non-green energy source, it's not green at all. If you power a Bitcoin mine from a hydro plant, it's 100% green.
In my opinion it's because there are more energy efficient ways of "mining". Compare bitcoin transactions that uses as much power as a small country to algorand that uses the same as a small street to write the same number of transactions to the chain.