Learn crypto the right way

Uber
zjhduei

Uber

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Apple
zjhdueimore
Jul 19 23 Comments

I totally understand that currently people are drawn into crypto for hopes of achieving crazy financial gains. But purely tackling this from speculation point of view, it’ll be super hard to avoid getting burnt like those that got burnt in 2017-18 bull run + the ico craze.

I was browsing through this lounge, and I’m still seeing many & many shitcoin shills.

First you need to compare these coins based on their purpose:

“SoV” - obviously the coin we all know: BTC. The challengers could be DCR, ZEC (both are forks of BTC with different governance model + great dev community). LTC have 0 dev activity and of course BCH, BSV aren’t real bitcoin.

If you’ve read bitcoin whitepaper, its original goal was to enable p2p payment. But we all know BTC cant scale to handle 1000s of txns like visa unless it sacrifices decentralization. If you are convinced on the value of gold, you can see bitcoin as gold 2.0 (btc market cap 0.2T and gold market cap 7T)

Smart contract platform (this is what everyone should look at closely, especially devs) - first place currently is ETH and there is no second place, rest are shitcoins (EOS, NEO, ADA, and many other smart contract blockchains)

The reason why I only say ETH, many reasons:
- ETH dev community dwarfs all other blockchain dev communities by a lot, i mean a lot. Little to no activity on other blockchains. By activity, Im talking about developers that build apps and tools on top of the blockchain.
- ETH is making its name in #DeFi (decentralized finance) currently 500M+ is locked into dApps (decentralized apps) ranging from lending, borrowing, derivatives, exchanges. Real life use cases are transitioning. Legit projects like https://compound.finance and dydx who are backed by top investors in SV.
- There are many many quality dApps in Ethereum, it’s not just gambling where EOS and TRON are only used for. Check out https://tryethereum.today especially Cent.co (hybrid of medium and twitter, where you can earn money for your own content)

Rest of shitcoins, go to each one of them, and try to find a dApp. And see if you can even interact with those dApps lol you’ll see what I mean by “quality”.

Basically what I want to deliver is that crypto won’t be around only for “speculation”. The transition from Web2 to Web3 is happening as we speak. I’m not telling you to detach yourself totally from prices and speculation, but make sure to open your eyes for the next revolution where Web3 will take over.

The more you get into this space, not only will you be able to distinguish legit coins vs shitcoin, but you’ll actually see the value of web3. Happy to answer more questions. I’ve been full time on crypto for a few years.

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TOP 23 Comments
  • Google simplton
    How much money have you lost so far. Think carefully before answering. I'll flag you if you say you gained from this shit pyramid scheme
    Jul 19 7
    • Uber himu00
      It’s a zero sum game. Not quite a pyramid scheme but pretty analogous. You actually just pointed the parallel out: “I got in since 2016” — the implication being that people who get in early make money off of people that get in late (who lose money) just like a pyramid scheme. Crypto hasn’t created any value. So all those gains are coming from the pockets of “greater fools.”

      I’m not saying don’t gamble. Do whatever you want. But don’t kid yourself. It’s a zero sum game, and it preys on unsavvy retail investors.
      Jul 19
    • Google simplton
      There are three things that make me run away from crypto
      1. People buy Bitcoin so that they can make money of others foolishness .
      2. Most cryptocurrencies are held by whales and they can manipulate the market easily
      3. Most people who promote Bitcoin and crypto are amateurs and don't have reputation or technicals.
      Jul 19
    • Everything is a zerosum game. Don’t tell me a piece of stock certificate has some intrinsic value created from thin air. It only has value because people assigned some monetary value and some other people decided to buy it at agreed upon prices. It’s the same with crypto or any shit that has monetary value.

      Manipulating is fine. So what? Every market is manipulated for financial gains. Perhaps there are less entities that are able to move markets in the crypto world. It’s the same with penny stocks in the OTC market but people still trade it well. Stock markets are manipulated by market makers operating in the dark pools and option markets. When MM’s build up aggregate gamma to extreme positives market stabilizes and returns are generally positive; when negative the market gyrates to whatever direction. Positive gamma aggregate: Gap ups are sold and gap downs are bought; negative gamma aggregate: gap ups are bought and gap downs are sold. All of these are delta hedging operations. Check out the attached returns distribution graph: x is gamma aggregate and y are the daily returns. These market structures are all “manipulations”. Man don’t get me into dark pools and how funds going long are actually shorts in the market: Think how MM’s operate and their incentives.

      In general, if you know how to look at orderflow, it really doesn’t matter whether the markets are manipulated or not. You still need price and volume to move prices. Orderflow guides you through the waves. Numbers don’t lie.

      In anything, you can act on price movement. Deciding/stating that crypto or any place/market/financial instrument is bad to put money in is just wrong. You just don’t know how to make money out of it and have a good understanding to come up with a high probability trade/setup/hodl.
      Jul 20
    • Uber himu00
      “Everything is a zerosum game.” Stopped reading after this. You are an idiot if you actually think this is true.
      Jul 20
    • I don’t believe; I think it’s true. Are you talking about value creation from economic activity that has the facade of adding value? Central bankers adding value by adding more liquidity to the system creating more cheaper money inflating everything that’s bought and sold? Sure sure. But in aggregate, everything is zero sum; the books are balanced from a credit-debit perspective. The idiot would be the one continuing to be working for a company that’s loaded with cheap cycling highly leveraged debt and that will never be profitable. When rates go up and maturity dates come along, the Uber’s debt cycle will collapse. Sure sure, I see your view as something’s not being zero sum. I’d be buying leap year UBER PUTz to 2021 and hodling until I get stopped out. Risk TBD. I haven’t looked too closely in UBER market structure. 🤔
      Jul 20
  • Credit Karma / Data
    SrfrBoi69

    Credit Karma Data

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    Google
    SrfrBoi69more
    I agree 100%, but you’re preaching to the Ethereum choir here. I hope you’re able to reach more people with this.

    Congrats on moving to full time on crypto. That’s my goal in the near term. Best of luck, OP.
    Jul 19 1
    • Uber
      zjhduei

      Uber

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      Apple
      zjhdueimore
      OP
      Yes You are correct. It’s still very early in the crypto world, I do hope ETH isn’t the only one out there in the future. Just wanted to share the current state of crypto world in 2019.
      Jul 19
  • New / Ops 🍿✅🍿
    I bought LTC at $100 and TRX at .20 cents (Binance wallet). Should I continue to Hodl? Please advise 🍿
    Jul 23 5
    • Credit Karma / Data
      SrfrBoi69

      Credit Karma Data

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      Google
      SrfrBoi69more
      Why would LTC or TRX perform Ethereum or Bitcoin?
      Jul 23
    • New / Ops 🍿✅🍿
      To put this in context I bought these coins a few years ago due to fomo. Are you saying converting these to ether is the best move? To accumulate more?
      Jul 24
    • Uber
      mjhduue

      Uber

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      Apple
      mjhduuemore
      I would convert to btc and eth, you are lucky for riding LTC their halving rewards time is very close. bitcoin halving will be next year :)
      Jul 25
    • Uber
      zjhduei

      Uber

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      Dropbox
      zjhdueimore
      OP
      ^
      Jul 25
    • New / Ops 🍿✅🍿
      Halving rewards as in losing more value? I don’t mind converting my LTC. What do I do with Trx in my binance wallet?
      Jul 25
  • New / Strategy
    Porsche996

    New Strategy

    BIO
    MIT BS MechE, Stanford GSB
    Porsche996more
    When next recession hits no one putting money on computer codes.
    Jul 20 0
  • Bitcoin or GBTC. Otherwise, GTFO.
    Jul 20 0
  • Facebook zumbo
    Check out Zilliqa to diversify. First smart contract platform built on sharding. Focused on tech and no hype unlike most of these shitcoins. Thank me later.
    Jul 20 2
    • Uber
      zjhduei

      Uber

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      zjhdueimore
      OP
      Check out near protocol and ethereum is working on sharding too.
      Jul 20
    • Facebook zumbo
      Benefit of zilliqa is that it's network is live, so first mover advantage. Who knows when Ethereum 2.0 will be completed and Near Protocol is still just white paper.
      Jul 20
  • Apple powerlines
    You have had good enough crypto kool aid
    Jul 20 0
  • Microsoft Crc Nutt
    Waves Pivx Siacoin
    Jul 20 0