Discussion in 'General Discussion' started by terosis, Jun 20, 2017.
Can I have some screen numbers plz
this man is always 11001 steps ahead LOL
You aren't a multi-millionaire until you actually cash out tho (and pay taxes on it).
I don't really see the downside in taking, say, 30% out (which I'm assuming is still over a million for you). You easily cover all of what you've ever put into crypto - ensuring that you will never lose money on it - and have >$1M to put into some low-risk account to retire on.
Then if Chainlink does continue to rise, you still have 70% in to easily become a multi-millionaire.
It doesn't make a lot of sense to me to trade that huge guaranteed gain & safety net with just for the difference between $7M and $10M.
Oh, but he gambled away a hefty sum on shorts, so he had to punish himself by also irrationally foregoing his first cashout level at $30.
It all makes sense. You have to fight risk with risk.
I admire the tenacity.
Lol. That's what makes it all fun to me. Besides. I wouldn't have any of this new found digital wealth if I didn't already have a strong apathy towards risk.
Cashing some out now will have no impact on my current way of living. I've already finished paying off the last of my credit card debts last year from all the huge loans and credit card advances I took out in 2018. I paid it all back just using my regular job salary. I also got a job promotion just this Friday. They gave me an AVP title. Not that it means much to me considering I'm likely severely underpaid by almost $20k. I could easily get a $15k - $20k+ bump to my yearly salary if I applied to work at another bank. I actually turned down an offer from my old bank last year that would have been a $25k increase to my salary in a mixture of base pay, stock, and 8% yearly bonuses.... but they refused to reinstate my seniority which would have granted me 5 weeks vacation from the getgo. They knew that was my #1 condition above everything else even before they created an offer. They "thought" that if they just offered more money I'd give up my desire for the vacation. I stubbornly declined. I didn't care soo much about the money. I cared more about having plenty of vacation to go to Burning Man and various other festivals and trips during the years. I absolutely did not want to get reset down to a mere 3 weeks of vacation a year. This further gives you an idea of how I value money. lol. So for the moment, I'm just coasting along until I hit my first sell level. Then retirement and that hippie lifestyle I desire. Lol.
BTW I jacked up my first sell level to $350. I can't predict the magnitude of how much link will increase in value within the months of staking going live. So I don't cut myself short, I jacked it up to $350. After the blast off from going live in staking and it starts to slow down, if it settles somewhere between $100 and $350 I'll consider dropping my first sell level back down.
But to straight forward answer your question, I won't be cashing any out until Chainlink staking is implemented and I wait a few months to see where the price settles. To do any less would be a self slap across my face after all my ranting I've done over the years.
Would $2M not give you a pretty nice guaranteed early retirement (i.e., only having to work a few more years & then being able to live off interest)?
Shit, do what you want though. I'm no expert. I have a different perspective on money. I spent a lot of years wage slaving and I've been replaced at my job before. So I like to lock in profit to protect against the worst-case scenario when that's on the table.
What is this staking thing with Chainlink and when is that supposed to happen?
Staking is the most important piece of Chainlink's tokenomics. It which will trigger the most dramatic rise in price. Its oracles, validators, users, etc will be able to front collateral of Link into their smart contracts. It will give rise to higher valued smart contracts and higher quality data feeds. It will diminish the overall circulating supply of link, increase the demand for Link so smart contract oracles can enter into more smart contracts and collect more income, and rapidly increase the value of a link token in exponential ways. Its the true Rocket to mars moment.
No one knows when it will go live. I imagine Sergey won't do it until he feels there's a healthy number of Oracles and smart contracts are at a point where they're ready to be collateralized. The absolute worst thing I could do to myself at this point is remove some chainlink off the table after 3 years of patiently waiting. Its like... do I want to take money out that won't have any real impact on my life, or wait another year and see it 10x again? The potential unrealized losses from potential future gains are too monumental for me. I might not personally put much value in money, but I'm not stupid enough to settle for a little now and miss out on a lot more possibly just months away.
Oh... I also think that when staking goes live we'll see a rapid rise in Smart Contract lotteries and billions of dollars in value getting tied up into these mythic legendary lotteries.
So.... does anyone plan on buying Coinbase stock when it goes live on the Nasdaq?
Fuck no. It will probably be one of those Bumble or Door Dash or AirBNB situations where it is overpriced right out of the gate.
I also have an irrational dislike of CoinBase and holding stock in it would feel the exact same as if I were to hold stock in the Ku Klux Klan.
I do agree with you there. At some point it will probably dip below its IPO within the first few months. It also has massive competition. We're also seeing more use DeFi exchanges. The easier it becomes for someone to use DeFi the more it will get used.
If I was savvy enough to bother learning how to use my Ledger Nano S I bought 2 years ago I'd probably have all my funds off all exchanges. But... after reading some of the instructions and losing patience... I threw it in a box and moved most of it from Binance to Coinbase's crypto vault. Lol.
When I was younger I would have had more patience and excitement to learn the tech, but the older I get the less I care and the easier I want it to be. lol.
Ol Octavionn dunking on life
I’ve used Uniswap. It’s a fucking disaster. Completely unusable. Ethereum, in general, is a trashcan blockchain. I’ve never used BSC, so maybe their DEXs are better.
DEXs right now are the Wild West (or at least the three I’ve tried). And onboarding is like trying to solve an elaborate puzzle. They have a long way to go before they solve the trust and usability issues. But, I agree, I think that long-term they are one of the implementations that really could be disruptive. We are talking like 10-15 years in future, though (or more).
That is Citigroup speculating that BTC could be the currency of choice for international trade (the use case I, personally, like cryptos for).
“For institutional investors, these include concerns over capital efficiency, insurance and custody, security, and ESG considerations from Bitcoin mining,” the bank added. “Security issues with cryptocurrency do occur, but when compared to traditional payments, it performs better.”
This is Citigroup, not the Winklevoss twins. This is more big news for Bitcoin.
I switched from Cardano to LINK today because I have always had faith in Sergey and his transparent, honest and groundbreaking cryptocurrency. Let’s take this passed $27 (my entry point at 2.5x leverage, because I will never learn my lesson about leveraging in crypto).
I can see how an unregulated digital currency can be appealing to institutional investors. They don't need any protections, and would profit from being able to ignore central banks and intermediaries. While the system risks in most western national banking systems is tiny, it's also not zero.
However, it's important to also keep in mind their next sentance: "The cryptocurrency is “at the tipping point of mainstream acceptance or a speculative implosion,” the bank added."
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