You do realize that it's all just leverage upon leverage, right? Rehypothecation almost to the same degree as Repo markets, if not more. I dunno how deep you are into DeFi, but once you get to the more advanced money games, it's just a replication of the trad financial system, and its insanity. I appreciate what the tech has to offer, but I don't romanticize what the game really is and what's really happening.
Been aware of crypto since 2013, got sidetracked trying to get in a couple times, which is prob a good thing, cause I almost sent in funds to mt.Gox before they got seized.
Dont like BTC, never did, would have never held through the madness even if I got in early, and have dealt with way too many BTC maxis who have showed me that my sanity is worth much much more. I like ETH, should have gotten involved in it when I first learned about it.
However, ETH as a network has pretty much screwed most of its users. ETH as an asset will do just fine and outperform BTC. Which isn't even impressive when you look at competing L1s.
Got in hardcore a year ago, had excellent guidance & education (coin agnostic), went in hyper aggressive, all in and more, which ended up being a great decision.
Been generating income within crypto for 8 months now with a very unique strategy, which I use to grow my bags and also pay myself.
I got an ever changing portfolio, 30 coins or so but the core is ETH/DOT/KSM/THETA/TFUEL/ILV/FTM/SOL/WOO/LUNA/HEX/FTT/CEL and SNX (yeah it's Rekt but I really like the project).
You got a lambo & mansion from BTC, great. Means jack shit to those entering the market now. BTC does not solve their problems. BTC doing a 2.5x from a year ago does not get them far when you look at the real inflation. That's assuming that one held through the corrections. If I had went in heavy on BTC a year ago, I would still be in a rough spot today, although better if I had not gone into crypto at all.
What I'm really trying to say here, is that BTC is not solving anything in the large scope of things. It went through multiple narratives that all flopped and ended up as a digital asset, with only real value proposition of "number go up". All because of fiat debasement. So just a rinse and repeat of what Real Estate, Equities, Artwork, Rolexes, Comic books, Collectible Cars, etc have went through the past few decades, and still are.
I'm quoting your post because there's a lot of value there and it shows you're not a complete fiat maxi as I thought you were
But you're too focused on fiat value much more than me, per your comment that btc is only 2.5x in fiat versus other coins. It's cool, that's your priority
My priority is risk management since I'm in cryptos for the long term
I'm not in cryptos for the
NGU in the short term. I see cryptos outlasting me and my kids will continue to hodl our cryptos
As far as multipliers in fiat value, It's risk vs reward, you go into a smaller cap, you get bigger rewards. Take for example Solana when it was priced in the pennies, who knows if the team would ever deliver mainnet versus Ethereum that has been running for many years
A perfect example is Cardano, smart contract, problems with dex, where are the defi apps, ecosystem?
I was a yield farmer last year, sushi, yam, cvault (core) among others. I was invested in LEND before it switched to AAVE 100 to 1
If you don't take unnecessary risks, you get very good yields with little risk. AAVE yields are good enough if you put a big enough deposit. Or you can go CeFi Celsius, Nexo or BlockFi
If you want higher yields, you can take higher risks, maybe purchase $6-figures of Spookyswap Boo, get ~70% APY no IL (single asset, double staked, check website)
When I say cryptos financial system is great!!! you do realize the above yields I just mentioned are not available in the tradfi, not in the same risk levels, not even close
rehypo = degen just being degen
If you deposit eth collateral, to borrow stablecoin, to buy more eth, to use for yield farming, and do another round, you deserve liquidation when numbers go down
I don't have any leverage. I'm not even staking right now, since Serum does not have single asset staking (risk of IL) and Solana, I'm on the fence on blockchain POS staking, maybe one of these days
I don't take unnecessary risks. I quit my job, that's how much I believe in cryptos and my ability to manage our portfolio
I do not want a risk of ruin or gambler's ruin
I don't have a lambo or a mansion, that's not managing risks properly given our net worth value. Tesla is good enough
BTW, the "Wen Lambo" went over your head. It was not directed at you. I made an assumption you're deep enough into crypto madness to get the reference.
Yea, I know what it means, begging for pamp, but lambo number is different for each person, perfectly happy to stay where we are give or take
