Official Bitcoin Thread

[D Double]

To get on the parachains, projects need $. To get $ they do crowd loans. To get crowd loans they give their tokens at a premium discount for help getting in.

Find the project(s) you like that’ll participate in auctions, help them with crowd loan funding, flourish.

I staked my Dot on kraken (12%), I’m just gonna leave it there. Dot accomplishing what it wants to is still a dream.. long term investment for me, but has SOL potential price wise, FOMO hedge

i am concerned about the global market/economy, everyone need to fire up the $ printer

Just to add to this, the DOT or KSM that you lend a project to get a parachain slot will be returned back to you at the end of the lease for that parachain.
So for example all those who lent their KSM for 48 weeks for Moonriver will get that KSM back so it was essentially free and Moonriver has exploded in price.
Parachains will be coming to DOT but the lease for DOT is a longer range. The max is 2 years but you will get your DOT back at the end of that period.

Here's a wallet of a whale who lent out about 3000 KSM for Parachain loan offerings. He's got close to 1 million in coins for free and he will get all that KSM back once the loan is over.

Sub ID: Substrate Addresses, Balances, Crowdloans and NFTs

Wallet info for your favorite Dotsama cryptocurrencies like Polkadot ($DOT), Kusama ($KSM), Acala ($ACA), Karura ($KAR), Moonbeam ($GLMR), Shiden ($SDN), Subsocial ($SUB), and other chains in the ecosystem.

sub.id

Also because you're loaning our your DOT or KSM, you won't have the regulation bodies coming after you like they did with ICO's

As more parachains join the main chain, more and more DOT/KSM will be locked up as well as those that are staked which will decrease supply and increase demand.

Parachains are essentially separate L1 chains but they are all specialised. They connect to the main chain, Polkadot or KSM. That way they share the validators and security of the main chain. The main chain also allows these connected parachains to speak to each other.

A chain specialised in Defi can speak to a chain specialised in NFT's. So you could for example use your NFT from another parachain as collateral to take out a loan in a DeFi Parachain.

Some chains also will have bridges to other blockchains like Ethereum and Solana allowing for interoperability not only between parachains but other chains too.

I didn't join any parachain loan offerings on Kusama. I wanted to see how it will play out but I will on Polkadot.
I'll try and go for Acala, Astar Network and Moonbeam. 2 years is a long time to lock up some DOT but I expect it to be 3 digits by then and I expect those 3 projects to moon as well.

Kusama already has 5 parachains conencted and 5 more ready to bolt on as well so everything is looking smooth so far. Just need to wait for DOT to announce its parachains and watch the price sky rocket.

 

[D Double]

you dudes in here really messed up my mind permanently i think. how many non-wealthy people can dump 10s of thousands over the weekend then go to work monday and your biggest concern is that you make it to the diner in time before they run out of corned beef hash?

i’m over here waffling on the price of shipping a few rapid covid tests but $90 gas fee on a swap is ok?

gonna go pick up my kids from school and hope they grow up to be more like their mom

Never thought I would spend hundreds on jpegs.
Some of the artworks are good but not $300 worth, damn.

Nice . I missed out on the Snatchers . I'll probably grab one on Solanart but I'm waiting on the attribute chart to see what I like. Looks like floor has settled just above mint so far.

Came across these about an hour too late. Gonna keep my eye on them though, they're cool as hell.

https://opensea.io/collection/nah-fungible-bones

Do you know if lower numbers tend to go for higher? Just realised one of my snatchers is Number 23.
Maybe a Jordan fan would like it

The volume on Solanart for these are crazy though so may be worth getting one.

 

[johnnyredstorm]

Just to add to this, the DOT or KSM that you lend a project to get a parachain slot will be returned back to you at the end of the lease for that parachain.
So for example all those who lent their KSM for 48 weeks for Moonriver will get that KSM back so it was essentially free and Moonriver has exploded in price.
Parachains will be coming to DOT but the lease for DOT is a longer range. The max is 2 years but you will get your DOT back at the end of that period.

Here's a wallet of a whale who lent out about 3000 KSM for Parachain loan offerings. He's got close to 1 million in coins for free and he will get all that KSM back once the loan is over.

Sub ID: Substrate Addresses, Balances, Crowdloans and NFTs

Wallet info for your favorite Dotsama cryptocurrencies like Polkadot ($DOT), Kusama ($KSM), Acala ($ACA), Karura ($KAR), Moonbeam ($GLMR), Shiden ($SDN), Subsocial ($SUB), and other chains in the ecosystem.

sub.id

Also because you're loaning our your DOT or KSM, you won't have the regulation bodies coming after you like they did with ICO's

As more parachains join the main chain, more and more DOT/KSM will be locked up as well as those that are staked which will decrease supply and increase demand.

Parachains are essentially separate L1 chains but they are all specialised. They connect to the main chain, Polkadot or KSM. That way they share the validators and security of the main chain. The main chain also allows these connected parachains to speak to each other.

A chain specialised in Defi can speak to a chain specialised in NFT's. So you could for example use your NFT from another parachain as collateral to take out a loan in a DeFi Parachain.

Some chains also will have bridges to other blockchains like Ethereum and Solana allowing for interoperability not only between parachains but other chains too.

I didn't join any parachain loan offerings on Kusama. I wanted to see how it will play out but I will on Polkadot.
I'll try and go for Acala, Astar Network and Moonbeam. 2 years is a long time to lock up some DOT but I expect it to be 3 digits by then and I expect those 3 projects to moon as well.

Kusama already has 5 parachains conencted and 5 more ready to bolt on as well so everything is looking smooth so far. Just need to wait for DOT to announce its parachains and watch the price sky rocket.

Dope. And you can deposit any amount right?

 

[stick]

Never thought I would spend hundreds on jpegs.
Some of the artworks are good but not $300 worth, damn.





Do you know if lower numbers tend to go for higher? Just realised one of my snatchers is Number 23.
Maybe a Jordan fan would like it

The volume on Solanart for these are crazy though so may be worth getting one.

I feel like there's always someone who will be interested in the novelty of the serial # but I'm not sure how much it would actually play a role .

johnnyredstorm some of these projects are still scared of the SEC and were disallowing US residents to participate in the crowdloans on Kusama. I'm not sure if they actually enforced it with KYC or anything but it's something to keep in mind.

 

[D Double]

Dope. And you can deposit any amount right?

Yea, every project has their own conversion rate, similar to a typical ICO raise.

1 KSM/DOT = X amount of coins

Some have better deals than others. Moonriver exploded in price because the of the tokenomics. There was no allocation for VCs. It was all given to the community.
Some of the others I've seen are not worth it and might be better to buy from an exchange. Sometimes they set the price in advance but the price of KSM goes up or down and either makes it a steal or not worth it in the end.

Others have an allocation for VC's so its good to check vesting and all that to make sure VC's don't dump but the risk is a lot less anyway since you're loaning your KSM or DOT to get these coins.

I feel like there's always someone who will be interested in the novelty of the serial # but I'm not sure how much it would actually play a role .

johnnyredstorm some of these projects are still scared of the SEC and were disallowing US residents to participate in the crowdloans on Kusama. I'm not sure if they actually enforced it with KYC or anything but it's something to keep in mind.

Ah, didn't know some weren't allowing US to participate. Which ones were they?
SEC really need to give clarification.

 

[stick]

Yea, every project has their own conversion rate, similar to a typical ICO raise.

1 KSM/DOT = X amount of coins

Some have better deals than others. Moonriver exploded in price because the of the tokenomics. There was no allocation for VCs. It was all given to the community.
Some of the others I've seen are not worth it and might be better to buy from an exchange. Sometimes they set the price in advance but the price of KSM goes up or down and either makes it a steal or not worth it in the end.

Others have an allocation for VC's so its good to check vesting and all that to make sure VC's don't dump but the risk is a lot less anyway since you're loaning your KSM or DOT to get these coins.





Ah, didn't know some weren't allowing US to participate. Which ones were they?
SEC really need to give clarification.

I'm pretty sure Moonriver was one of them. I swear I read that in their FAQ but I can't find it now.

 

[noskey]

So let's say somebody was interested in yield farming on Raydium. Let's say that somebody has only started researching and done a general surface level dive. What other information is good to know before becoming a humble farmer a la アミーゴ ? How much SOL would be recommended before farming?

Would I want to open a phantom wallet, move my SOL there, and connect that to Raydium to start farming?

As always, I appreciate the knowledge you guys drop.

 

[mplsdunk]

I need to do something with my Sol too. I’m not selling so it’s cool if it’s locked up for a while to me.

 

[wr]

 

[fapmasterjr]

Tip of the day (more of a reminder for some):

Always nice to look at past transactions when DCA’ing.
Market conditions dont effect you as much. It also trains your mind that “ooh, im getting such a good deal”, and almost becomes a game. Stay strong.

 

[johnnyredstorm]

So let's say somebody was interested in yield farming on Raydium. Let's say that somebody has only started researching and done a general surface level dive. What other information is good to know before becoming a humble farmer a la アミーゴ ? How much SOL would be recommended before farming?

Would I want to open a phantom wallet, move my SOL there, and connect that to Raydium to start farming?

As always, I appreciate the knowledge you guys drop.

use as much sol as you can tolerate losing in a rug pull or exploit

ive got a farm on saber and solfarm, both are the extra coins I have that im ok with losing.

 

[313sole]

BB is a wild guy but I think Akon is a very savvy business man and seeing what something can do first hand is much different than studying charts.

 

[noskey]

use as much sol as you can tolerate losing in a rug pull or exploit

ive got a farm on saber and solfarm, both are the extra coins I have that im ok with losing.

How likely is a rug pull thru farming if you're tying up SOL with RAY? I was looking at RAY specifically because they seem like a 'safer' farming option. Or am I misinterpreting how farms work? Is Raydium more of a middleman? This is helping me understand where else I need to do more research and understand what I dont know.

 

[wr]

BB is a wild guy but I think Akon is a very savvy business man and seeing what something can do first hand is much different than studying charts.

These inside information cats always give me lulz. Talking to someone actually doing deals in the space privy to information outside of Twitter and crypto maximalist is much more insightful on where the space is going.

 

[johnnyredstorm]

How likely is a rug pull thru farming if you're tying up SOL with RAY? I was looking at RAY specifically because they seem like a 'safer' farming option. Or am I misinterpreting how farms work? Is Raydium more of a middleman? This is helping me understand where else I need to do more research and understand what I dont know.

its a legit DEX, and odds are low, but in crypto, it's the Wild West, so you never know in theory. Nothing wrong with pushing the limit if you're ok with the risk. For me, I'm more inclined to do multiple different pools with smaller size to spread my risk around.

 

[noskey]

its a legit DEX, and odds are low, but in crypto, it's the Wild West, so you never know in theory. Nothing wrong with pushing the limit if you're ok with the risk. For me, I'm more inclined to do multiple different pools with smaller size to spread my risk around.

Eh it's the wild west like you said. I wont dip my toes into margin, but I'll risk what I do have at this point since it's still a small position. Would the steps I outlined be the way to go about farming? Phantom-> Move SOL -> Connect to Raydium and farm?

Thoughts on Sushi's yield farming system? Are gas fees still astronomical since they're on Ether?

 

[yogetoffmykickz]

Man... This fire sale got me flipping the couch cushions for some extra dough....

Who needs plasma anyway.? I don't even know what it is.....
How much can I get for a kidney.?!

 

[johnnyredstorm]

Eh it's the wild west like you said. I wont dip my toes into margin, but I'll risk what I do have at this point since it's still a small position. Would the steps I outlined be the way to go about farming? Phantom-> Move SOL -> Connect to Raydium and farm?

Thoughts on Sushi's yield farming system? Are gas fees still astronomical since they're on Ether?

Use sushi on other networks if the bridging costs are less than you can earn. Your thought process is right here for farming. What pools are you eying? The thing I like about solana is you can DCA into pools each week and not be burned by gas. Closest thing to TradFI honestly.

long term, 5 years out, pick one: DOT or AVAX

or is there something better I don’t own

 

[stuntman mike]

you guys think these L1s are all gonna find their own niche or will the bulk of them die off?

Who needs plasma anyway.? I don't even know what it is...

been donating blood for years just to be a nice guy. don’t tell me i coulda been getting crypto money instead?!

 

[noskey]

Use sushi on other networks if the bridging costs are less than you can earn. Your thought process is right here for farming. What pools are you eying? The thing I like about solana is you can DCA into pools each week and not be burned by gas. Closest thing to TradFI honestly.

long term, 5 years out, pick one: DOT or AVAX

or is there something better I don’t own

Gotcha. Honestly the only pools I've seen that I could comfortably jump into are SOL/RAY and SUSHI/WETH. Because those are the tokens I'm able to figure out how to get my hands on Does it make sense to use the apps (Raydiums or Sushis) if I wanted to use my phone to manage the farming/staking? Sounds like using Raydium and farming using SOL would be the best bet at the moment and would at least get me exposure to a yield farming operation.

DOT or AVAX? I want both. Seen Avalanche talked about in here and other places and I want to start a bag on that. Also have AMP as a 5 year outlook (unless it hits my target price early at which time I'll start phasing it into other projects).

 

[turbospartan]

Who needs plasma anyway.?

OLED >

 

[stick]

Gotcha. Honestly the only pools I've seen that I could comfortably jump into are SOL/RAY and SUSHI/WETH. Because those are the tokens I'm able to figure out how to get my hands on Does it make sense to use the apps (Raydiums or Sushis) if I wanted to use my phone to manage the farming/staking? Sounds like using Raydium and farming using SOL would be the best bet at the moment and would at least get me exposure to a yield farming operation.

DOT or AVAX? I want both. Seen Avalanche talked about in here and other places and I want to start a bag on that. Also have AMP as a 5 year outlook (unless it hits my target price early at which time I'll start phasing it into other projects).

You have the right idea. You'd use Metamask instead of Phantom for Sushi though. And there's no mobile app for Phantom yet. I'd recommend using Sushi on Polygon to avoid initial gas fees as well as when harvesting rewards. It's important to educate yourself on impermanent loss when you're gonna be farming. Do that before pulling the trigger. You might find that you're better off just hodling for your personal situation/timeframe.

Man... This fire sale got me flipping the couch cushions for some extra dough....

Who needs plasma anyway.? I don't even know what it is.....
How much can I get for a kidney.?!

I used to donate plasma twice a week in college . It's like donating blood but they only take the good stuff out and then pump the blood back inside you. Crazy sensation tbh.

 

[ballinsam23]

Someone give me something I can put $100 in and make 13 mill from.

 

[stuntman mike]

S2F posted in june. check out sept.

 

[jjs]

S2F posted in june. check out sept.

i need more time to accumulate. Can we push this to next year at least?