Ethereum

[Ab]

To be fair, until well after Biden takes office, the SEC - just like every other regulatory oversight organ of the US govt - may as well not exist.

[Nich]

Originally Posted by Ab

hmm, by the looks of it a whole lot of people just decided today's a good time to get out of ETH

OK, dip's over!

[Ajax]

Check out this textbook XRP pump 'n' dump.

[Cyberbob]

That's how you end up with this sort of wallet.

[Ab]

Originally Posted by Nich

OK, dip's over!

ain't it just. boy did those people time it badly.

[Lightspeed]

Originally Posted by Ajax

Check out this textbook XRP pump 'n' dump.

Yeah, I spotted that. When I saw the value climb, figured something must be up.

[Ab]

Originally Posted by Ab

ain't it just. boy did those people time it badly.

I'm not sure whether this is very right or very wrong. But Shub knows eth took another big dip and is bouncing around like a yo-yo right now. Anyone timing those oscillations right is making serious gains.

[Ajax]

This is a tremor. When USDT loses its 1:1 peg we will see the 9.0 quake.

[Nich]

USDT losing it's stable coin dominance will MAYBE cause a Mt Gox style market shake up. There are plenty of other stable coins that can fulfill the role. Do you think Morgan Stanley/Microstrategy, for instance, cares to use USDT as they hoover up the available Bitcoin?

annnd finally I can get some work done! I remember June 2017 watching Eth go from $500 to $250 and I felt like I was going to die. A mate of mine developed an instant cold sore in that week.

[Ajax]

I suspect 'institutional money' is a droplet in an ocean of deeply questionable liquidity. True there are other stablecoins but their impact isn't significant.



Source: coinlib.io (tracks all major exchanges)

[Lightspeed]

Vitalik addressing perhaps crypto's most significant flaw: wallet recovery.

https://vitalik.ca/general/2021/01/11/recovery.html

[Ab]

Apropos:

https://www.nytimes.com/2021/01/12/t...-fortunes.html

So many tales of lol.

[Nich]

I hope they can see the funny side of it. They could be a millionaire, but will have to settle for middle class. First world problems. An opportunity to be thankful for what you've got and not what could have been.

On the subject. I ordered a Ledger Nano X (upgrading from Nano S) last week and it's already arrived! Only reason for upgrade is firmware is more compatible with Eth 2.0 (although the basic transaction message protocol remains the same from Eth 1.0 to 2.0).

Any of you guys staking? I would be all up on that shit, but in regional area and power / internet is prone to outages. Don't want to risk it until I've got an uninterruptible connection.

[kRAdENkO]

Had a quick look at staking, but not keen on having my staked ETH tied up until ETH 2.0 is ready. Its possible its never ready, however unlikely that is.

Oh, if you're worried about your QoS just stake via a pool?

[Ab]

Originally Posted by Nich

Any of you guys staking? I would be all up on that shit, but in regional area and power / internet is prone to outages. Don't want to risk it until I've got an uninterruptible connection.

Not here. Let us know if you take the plunge.

[Lightspeed]

I figure there will be some options for pooling a node fairly shortly.

How long till someone starts offering node insurance?

[Nich]

ETH ATH incoming...

[Ab]

today was bonkers, I actually got scared and bailed early.

[Nich]

Did you need the money? If not, why sell? It's the lowest hanging investment with virtually unlimited upside potential. Take that bet (with money you don't mind losing), keep it safe with a hardware wallet, then check back on it in 3-4 years.

Uninstall crypto price checkers, uninstall crypto twitter, and keep away from CNBC and youtube "day trading TA".

If youre making a decision to sell on the day, sleep on it first and see if you still want to sell.

[Ab]

The crypto I had set aside longterm investment all got used as life-support during the incomeless winter. What I have now is a smaller amount of play money; I'm basically baby day trading and trying to ensure that my numbers are better at the end of the week than at the start. But by "bailing" don't worry; I don't mean "withdrawing fiat to a bank", I just mean "hopping sideways between coins". When I get to a certain threshold I do liquidate a bit and use it to pay down debt. After 2020 I'm pretty fucking debt-averse.

Out of interest, what exchanges/markets do you guys use when you're buying and selling?

[Nich]

Very brave to trade in this environment. Ignore what I said then. You have a different strategy than me.

I use btcmarkets.net always.

[Ab]

You know, since I made that post and re-reading your preceding comment a few times, I've come to Jesus. I was getting gamified and the fact that I'd gone back in, made some quick money, and got out with a profit before Xmas was clouding my judgement. You're completely right, I shouldn't be doing this.

Everything's now back on my Ledger Nano and it has been put away.

Hey does btcmarkets.net let you transact straight to your Ledger address? Or do you have to transact to an on-site wallet and then send the crypto to your hardware wallet in a separate transaction?

[Nich]

Ahh good. A man can lose more than his shirt attempting to day trade in these times. Coins are literally doubling or halving in value in a day. I like to set my position, then enjoy the show up or down. Patience.

re btcmarkets.net: they own the private keys. So get it off exchange withdrawal to hardware wallet, or money in the bank.

[Ab]

One thing I like about easycrypto.ai (kiwi outfit) - they're a noncustodial exchange, so when I place an order the coin goes straight to my Nano. No extra transaction fee to get the coin from the exchange to my wallet.

[Nich]

That is preferable indeed, but I just wouldn't use my main wallet for such integrations.