Crypto $$$

[BA-XT]

Originally Posted by CyberWasp

BA-XT do you have your Luna Staked in Terra Station?
I am holding Luna for the long term like you, and are just staking it there and compounding it.

Actually I've never looked into staking it! I'll have to research that

[CyberWasp]

Terra Station is the native Wallet for that token.
If you stake Luna there you earn approx 6-10% Luna.
Not bad if you are holding for the long term.
Every few weeks I pull the interest out and re-stake to compound it.
The catch is if you want to pull your Luna out it is locked for 2 weeks or so.
I guess it stops people dumping the token when the market turns down.
41% of the total Luna is staked there.
But that's not all, you also get UST for staking as a bonus also.
I also pull that out every few weeks and send it to Anchor Protocol where you get 19.5% Interest on that. Anchor links directly to Terra Station.
Not bad for a US Dollar Bank Account effectively.
But that is still not all. You also get Air Drops as a bonus for staking, in coins from all of the other projects on the Luna Eco System. These can be accessed in Terra Drops.
All coins on the Eco System can be converted on the Wallet also.
So if there is a downturn I could convert the UST to Luna and buy more of it.
Ok one more thing. There is small fees involved when you stake ect like 20cents
The UST I earn from the staking is easily covering any of these costs plus still letting me deposit into Anchor.

[hayseed]

Originally Posted by CyberWasp

and send it to Anchor Protocol where you get 19.5% Interest on that. .

How can they pay that sort of Interest rate..???

[CyberWasp]

At the moment it is at 19.38%
There is almost $10 Billion UST Deposited in there at the moment.
It gets complicated to explain it all but there are many videos that explain Anchor Protocol.
They have a mechanism to lend the money that is deposited, but at the moment deposits are way higher than borrowings, so I guess over time the interest rate will go down until it finds a balance between deposits and loans.

You can use Luna or Eth as Collateral at the moment but I think that will expand soon to other coins.

Why would you borrow this way?
Pros
Loans are instant and don't need approval. Loan is % of collateral @ 12.5%
If you cash out any Crypto to have to pay capital gains on profits, but not on borrowings.
In a rising market you could use you Crypto to buy more Crypto....free money.
Cons
Your collateral is calculated at the market price so it will vary.
If you deposit $1000 and borrow $400 and your $1000 of Luna, tomorrow is worth $400 you are done.

[Citroënbender]

IIJM or does anyone else think the last few months of trading are showing a more stable pattern - perhaps reflecting a greater shift to mainstream investors holding cryptocurrencies?

[wodahs]

Originally Posted by Citroënbender

IIJM or does anyone else think the last few months of trading are showing a more stable pattern - perhaps reflecting a greater shift to mainstream investors holding cryptocurrencies?

theres a problem coming for crypto apart from current world affairs , thus why the crypto market has done what its done
for a lot of coins on the market there is the abillity to mine the currency and one of the big coins Ethereum has had plans on the way this mining is generated for a while now and as the process come nearer and has cleared more hurdles which will change the way people are able to mine it , its causing the market to come down and also be less fluctuation as people that mine anticipate what direction it will take
miners use ASIC's and special set up PC mining farms to generate the coins

[Citroënbender]

A couple of fairly marked declines in big names over the last quarter, notably Litecoin and Cardano. I’ve no exposure to either, besides setting a couple of alerts if they really start tanking (to consider buying, then).

Pondering what happens when a fading currency can’t be mopped up like a share takeover.

[Citroënbender]

I bought $20 of Bitcoin last week and immediately the price went down; stayed down. Who’d have thought I could influence a global marketplace for twenty bucks?

[CyberWasp]

I knew there was a reason for the drop in price. It is lucky you didn't buy $100.00

[Citroënbender]

(Source)

Interesting times. I’m wondering why the sudden heavy selling-off, as again it seems to reflect concerns that should - surely - be less applicable to decentralised currencies.

[data_mine]

my theory:
the big increase in institutional investors over the last few years have brought along old thinking with them. you'll see the US stock markets are trending the same way.

'they' need to realise there's no reason for crypto market to follow the stock market, it's not driven by the same factors. but one big sell off will spook the rest as we've seen.

still it's far from bad news, it's only down to 2021 levels.

[fordomatic]

it'll come back, always does. I waited 3 years once, zero stress, no losses if you hold.

[Yellow_Festiva]

Yep, huge drop around 10am today, only for it to regain some soon after.

[CyberWasp]

[Citroënbender]

Luna; Oscar Mike Golf…

(Source)

Because of how much is (was?) presently staked, this is interesting viewing…

[data_mine]

Originally Posted by Citroënbender

Luna; Oscar Mike Golf…

image

(Source)

Because of how much is (was?) presently staked, this is interesting viewing…

and because LUNA is tied into USDTerra. which is supposed to be 1:1 USD, it's been down it < 0.60c

[FoxtrotGolfXray 5.0]

Originally Posted by Citroënbender

Luna; Oscar Mike Golf…

image

(Source)

Because of how much is (was?) presently staked, this is interesting viewing…

You forgot the foxtrot

[CyberWasp]

There is still approx 29% of Luna still staked in TerraStation.
It was up near 40% yesterday.
It takes 21days to unstake before you can sell them so that will be all that might stop it dying.
What a mess.

[Citroënbender]

Originally Posted by CyberWasp

There is still approx 29% of Luna still staked in TerraStation.
It was up near 40% yesterday.
It takes 21days to unstake before you can sell them so that will be all that might stop it dying.
What a mess.

At $2.56 presently, wouldn’t it be simpler to hold on than un-stake to sell?

TBH I’m half waiting for the bleating of hurt crypto speculators who want our Government to bail them out…

[prktkljokr]

Having a bit of a spending spree at the moment.

It goes down then it goes up, then down, then up, then down, then up, .............you get the picture

[CyberWasp]

Yes, I am holding on until the lights get switched off at zero.
It is a shame. TerraStation was so easy to use.
I will use it as my reminder to take profits.

[Citroënbender]

Commiserations to you and BA-XT for the Luna losses. You’ve openly shared the experience, no whitewashing; can respect that.

[fordomatic]

Just spent up big, first crypto purchases in 5 years, keen to see how it goes.

[CyberWasp]

What did you pick up?

I have money in about 8 other coins which most of them i consider crap coins now.
It is funny how I considered Luna to be one of the good ones but it tanked 1st.

Surely the bottom is in now. How much lower can we go.

[Citroënbender]

Today, tomorrow will be interesting; share market jitters in the US are seeing some crypto suffer.

Gut feeling remains that crypto generally is heading for a shakedown and many small value coins/tokens will reduce to effectively zero; a near mirror of metals markets.

As a semi-related note, there seems growing scrutiny of the ongoing “value” of NFTs.

[CyberWasp]

Don't say that, I am all in on VeVe NFTs & their OMI Token.

I am hoping that because they are using licensed IP's like Marvel, Disney, DC, Star Wars ect that they will hold some value when they go main stream. All of the their NFT's are in AR and you can place them in your room through your phone or AR Glasses.

I really like the Marvel Comics which are in AR also.
As usual I am already kicking myself as the 1st Marvel Comic on the Block Chain, Marvel Comics #1 was sitting at $5.00 after launch and I only bought 1. Should have stacked 20 of them.
They went up to about $700 at one point, but are now $150

If you are into collectable NFT's that are mainstream brands check them out.

[zilo]

So glad I didn't buy any of this rubbish.

[Mulva]

Originally Posted by zilo

So glad I didn't buy any of this rubbish.

I was glad I didn't buy any the first time it "died", and the second time it "died", and the third time it "died", and the fourth time it "died".

Nw I'm happy I finally bought some a while after the sixth or seventh time it "died", and only wish I'd bought some sooner.

If BTC gets below AU$5k then I'll regret my purchase (have stop-loss above that but will regret opportunity cost) - meanwhile I'm glad I bought what you didn't.

My regret is not selling some above AU$90k, had sell orders laddered from AU$95k upward.

The last time it "died" in January 2018, the people that bought the top got in at AU$29k and saw it go to around AU$7k. They had a rough crypto winter but even now they are still 25% up. Of course those that got in a top of this cycle above AU$90k won't be feeling too comfortable being bit over 50% down, but if cycle repeats again then their time will come.

I get that cycles repeat until they don't, but I watched at least 5 cycles before committing, and definitely did not go balls in as I followed the golden rule of only putting in what you can afford to lose. If you follow that rule then any regret would be very minor.

Funny thing is I had you pegged as someone that would be into crypto through being anti-establishment / anti-state...but now I see if you were in then about now you'd be wanting to speak to crypto's manager.

[zilo]

Originally Posted by Mulva

I
Funny thing is I had you pegged as someone that would be into crypto through being anti-establishment / anti-state...but now I see if you were in then about now you'd be wanting to speak to crypto's manager.

Nah...you got it wrong....I get a cramp around $400k counting 100's...liquidity is my weapon of choice.

Have always been amused by prima donnas who reckon they are doing something that will make them rich quick. without doing any work.

And yep...someone does...the one who lays the first block in the pyramid scheme...

The difference these days they gote a bit more clever...don't rape them too hard the first time..have them coming back for more...maybe 6 waves..then have them brag about how much they just made.

A bit like the pokie player who tells you about the big win...but not the preamble of thousands of losses.

[Mulva]

Originally Posted by zilo

Nah...you got wrong....I get a cramp around $400k counting 100's...liquidity is my weapon of choice.