A long post - Most of this is perspective based on several of experience in crypto markets. If you are new and looking to survive in this brutal market, you need to nail down the essence of this post and have this mindset.
I wont talk about individual technologies that make up the market or give you any hints on what to throw money into - you can find these in many places. This post is just about the inner game you need in crypto.
I have been in crypto since 2015, invested in alts that have gone to the moon and to zero, made and lost money on everything from tokens to NFTs to ICOs. I made millions in 2017 and then came close to losing all of it in the crash. Since then, I have take the time and effort to understand what really makes this market work. Today, I play crypto just to make more fiat money, and will continue to do so. I treat the entire space as the definitive speculative opportunity of a lifetime, and dont have any affiliations or emotions with any project and dont think any of them except a bare minimum have any real technology thats going to survive long into the future.
Today, crypto has over 20,000 coins. An overwhelming majority of these are outright scams. Many of them are text book ponzis.
But these are ponzis that you can easily multiply your money, if you know how to play them. Some of the ponzis have daily trading volume in the billions. There is no shortage of suckers who think they are going to become rich bag holding all these junk coins. At the peak of every cycle, crypto is able to suck in thousands of gamblers on a daily basis, at a rate no market has ever seen before. Bubbles and scams of the past like tulip bubbles, dot com bubbles, Madoff scheme etc were extremely limited in the number of participants, and didnt have a viral network like the internet promoting them. All of them pale in comparison in front of crypto.
Crypto is a 24x7 global market with a virtually infinite number of potential untapped participants who can be sucked in. Perhaps crypto’s greatest achievement lies in scaling the ponzi scheme mechanics to millions of people who have absolutely no clue what they are getting into.
Most of these ponzis are created and structured by a handful who have massive experience in creating ponzi schemes anonymously on the blockchain. Thousands of coins didnt come out of nowhere, behind every one of them is a plan formulated by those with a goal of getting rich by sucking hard money out of those who have little understanding of the dynamics of this market, much less the technology behind it.
Crypto is a game where a handful of people make all the money, while the overwhelming majority will end up with a blown up account. This is the absolute reality of crypto. If you have been in crypto for a while, you may not like what I’m saying here, but the market is what it is. These kind of posts are not welcome in almost every crypto forum or sub - because many either dont want to admit it, or havent yet come around to accepting it.
Majority of those HODLing shitcoins are going to lose everything from their deposit to the loan they took out to fund their “investments”.
Yes, there are good products within crypto that can benefit society as a whole, but the overwhelming amount of participants in crypto today are not interested in these. A platform that offers an above average 8% on stablecoins in a decentralised trustless manner isnt as interesting as a ponzi token created out of thin air, that promises to 10x your money in a matter of months, because its the next biggest platform.
https://www.coindesk.com/tech/2022/10/19/will-censorship-fork-ethereum/
What is this article and why is Justin drake claiming a fork is likely to occur?
How is a fork expected to solve this?
Coindesk and Blockstream are both subsidiaries of Digital Currency Group.
I believe Coindesk is an actual subsidiary, but Blockstream is part of DCG's investments
DCG ran into a massive balance sheet hole post 3AC with Genesis trading. I hope they go bust in the upcoming bear wipeout but considering they collect a huge fee from shitty products like Grayscale Bitcoin Trust they may just survive
This post couldn't be more wrong if it tried.
What you are showing is the 10y-3m yield spread.
That is the difference between the yield on long-term debt minus the yield on short-term debt.
A negative value only means that currently short-term yields is higher than long-term yields, both can, and in fact are, in positive territory.
The 10y US government bonds are currently paying a yield of 4.14%.
As a sidenote, bonds are not government debt. The bond market to a large extent consists of corporate bonds and government bonds.
OP is a dumbass trying to sound smart but in reality has no fucking clue what he is talking about. Bunch of macro buzz words to sound cool. Pensions, "negative yields" LMAO
I disagree with that last part.
Most of the Crypto newbies have already sold or are dedicated to hodling no matter what, OGs know better times are ahead and just DCA in.
Not many people left there to sell, this is why we have everything crashing around us and BTC is crabbing in the 18-22k range.
It's simple, nobody wants to sell a 17k Bitcoin. Many want to buy a 17k BTC but don't have the FIAT -> crabbing 18-22k.
OP's entire post is wrong. He is taking about negative yield spreads, but phrases it as negative yields.
No, there are no negative yield bonds in US treasuries now. 10Y and 30Y are literally soaring, 10Y was 4.2% in yesterdays trading session
The pic op has posted is the 10y - 3m yield spread - thats the difference in yield between 2 different term papers
Odds are OP has not a clue what he is talking about
I know it started with XEN but was it cautiousness post Merge that caused fees (and hence burn) to be subdued for two weeks before a consistent high trend we are now seeing?
The weeks before merge were also low gas.
Not sure why but there are just a lot more ponzis being played rn. Some of the other top gas guzzlers are things called KIRI, Degenheim (DGNH), Sprouts (SPRT) etc.. IDK what these things even are
Ahh.. this must be the infamous
M I D T E R M R A L L Y
Amazing rally on US10Y, US30Y etc
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This sub is full of fear mongering, misinformation and crap like this. Why not just post the actual text of the bill, a summary, or even SBF's comments about this? Instead you link information priming people to dislike SBF and agree with you as well as random info on FTX about something unrelated (again, priming people to agree with your assertion instead of posting relevant facts.
Here is the bill
Here is the summary of the bill
Here is SBF's initial response
I have read the bill, it seems to deliberately make points to regulate only centralized agencies that make a business of doing transactions. Furthermore, it seems to be at least aware of non-trading type venues as they specifically say things like miners and validators dont fall under this.
“(24) DIGITAL COMMODITY TRADING FACILITY.— \ (A) IN GENERAL.—The term ‘digital commodity trading facility’ means a trading facility that facilitates the execution or trading of digital commodity trades between persons.
“(B) EXCLUSION.—The term ‘digital commodity trading facility’ does not include a person solely because that person validates digital commodity transactions.”;
Basically this bill seeks to set definitions that don't currently exist in order to stop using inaccurate definitions that are being misappropriated from older securities/commodities laws being applied to crypto.
I don't know SBFs intentions, but at least try to educate and present information in a full manner.
“(B) EXCLUSION.—The term ‘digital commodity trading facility’ does not include a person solely because that person validates digital commodity transactions.”;
Defi dapps arent just validating, They are facilitating transactions, for instance Uniswap facilitates trades between 2 tokens that the CFTC or SEC could claim as commodity or security.
However Uniswap is a defi platform (just code that executes based on user inputs) so its in no position to comply with CFTC demands except ensuring users arent able to access the platform.
CFTC is already going hard after Defi derivative exchanges claiming they have to KYC all users, but its impossible for a DEX to KYC all users due to the nature of blockchain. The only alternative is to prevent US users, thats what dapps like DYDX already do
These kind of laws essentially cut all US citizens out from Defi, and route them to Centralized exchanges. Thats whats already been happening for 2 years (many US users of DYDX missed out on a $30k airdrop because the platform had to exclude US users)
Any spreadsheets or tools to check the eligibility for $APT? I don't want to go through that whole process to see I'm ineligible.
You would know if you are eligible - minters of a free NFT and those who applied as validators
LOL:
Declaration for the Future of the Internet
https://www.state.gov/declaration-for-the-future-of-the-internet
Promote trust in the global digital ecosystem, including through protection of privacy; and
Steps to enforce this - Ban privacy software like Tornado Cash
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Its probably a direct to block producer transfer or a MEV transaction
If you look at the fee burnt, its just "Burnt: 0.001408034760380345 Ether ($1.83)" - thats the actual fee, the rest of it is payment sent directly to the validator.
Edit: Looks like a juicy MEV -
This one was in the same block, 121 eth paid out to Lido stakers.
https://etherscan.io/tx/0x431adb8a541017c47b8cb97c576711366d45cc5ab4b31a707c86ff7acdf79ec2
Beatings will continue until moral improves
Smol Tings will continue till Beatings improve
Is anyone single sided LP'ing stables? If so, where?
Last I checked, yields dropped considerably but I've seen a few ~10% opportunities on Impermax.
Was inspired to look because my tradfi bank is trying to sell me on a 3.5% certificate of deposit, which is a lot higher (but nothing to write home about) than previous CD rates.
Those CD rates are likely to go up more with another 125 bps hikes till end of the year. At 4-4.5%, I'd take that over anything stable LP in defi. Sure that CD aint 10% but it also aint 100% gone due to a bug or a hack or whatever.
With stable LP/cash, the priority is always safety over returns, you arent hoping to get rich earning interest on stables. At 0.5% CDs were unattractive but at 4%, its peace of mind - a decent fixed income return thats insured by FDIC.
The safest yield in defi would give you around 1% (aave/compound).. and even thats open to smart contract risk
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Set1Less
u/Set1Less · 2yKarma
Cake day
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