What do people think about alt coins? V.1 [discussion]

I would not recommend putting it in crypto if you have a 4 months window. Very very risky.

There are some stable coin yield farming you can do, however I do not know enough about it to recommend it.

 

Currencies are generally stable for four months, so probably not unless you got a good tip...

Rug Pull has lit up recently on crypto news. Not fud... Already happeneds.

 

Nope, hold it in checking. I mean we could all be wrong but 4 months is too short of a window, I'd say you have a much higher chance of losing 1/2 of it than making anything meaningful in 4 months (unless you're literally daytrading it on swings).

I basically see this as something that some cash players do at a poker table/even stock investors trying to get more, setting some limit of time vs $ goal when you leave the table/sell the stock, like if you can only play an hour vs a several hours (or try to force stuff on stocks) you're probably going to lose since your goal is already hard set on time. Obviously not exactly the same analogy here but 4 months with how crazy btc/eth has been on news it's looking like there will be another dip, and your 30k will probably be 15k. I say if you use like 1-2k or whatever you can afford to lose it might be okay to gamble but if the 30k is set for real estate don't lose it, there's always more trades that can be made.

With that said, I mean if you really want to make money I'd probably give you better odds throwing a $1-2000 or so into lotto OTM stock options vs crypto being up nicely in a small window.

 

I'm using Blockfi and Gemini to stake USDC (Coinbase stable) and GUSD (Gemini stable) which are both paying around 8%. Anytime something is paying you ~8% interest there is some risk involved, but these seem to be well regulated and reputable exchanges.

I'm running a 80% (crypto)/20% (stable coin) portfolio, and just rebalancing as the market goes up and down. You can't beat earning 8% on your low volatility portion of your portfolio.

 

I literally just went through what @IBTL is about to go through, so I want to re-re-re-re-iterate this...

IF YOU ARE NOT YEARS AWAY FROM A PURCHASE DO NOT PUT YOUR DOWN PAYMENT INTO ANYTHING UNSECURED.

I put a large (for me) stake into crypto in 2018 because I knew my buying timeline was 3-5 years out. I seeded it monthly. The Winter dip came, but having learned my lesson from the 2017 run & crash, I held and kept seeding. Everything else I saved went into index funds (8-10% annual return).

Enter late 2020, the 2nd bullrun is here and my house hunt is about to begin in earnest (6~ month timeline), so I started cashing out some gains to 1) recover my initial investment and 2) prepare for the down payment I was going to need (I knew that the money would likely need to "rest" in a bank account for a while before the financiers would consider it legit given how dumb they are about crypto... sure enough I was right).

In retrospect I probably waited longer to start cashing out my crypto than I should have, but the lesson here is have a plan and stick to it. Did everything ride on crypto for me? No. Did it help out a lot? Hell yes it did.

 

Thanks for the replies @CCity Zero , @DonnyMost ,@Space Ghost , @LosPollosHermanos @Invisible Fan I will keep it in checking like Elvis used to do..

All in checking baby!!
@TWS1986

 

Yes, I definitely agree with you and was trying to backup what had been stated by you and others. Ie don't risk money in an unsecured investment that is basically needed now/soon to buy real estate. I threw in the example of lotto options if you wanted to make highly risky moves but only use an amount you can afford to lose.

 

I'm going to patiently wait on Shiba Inu and hope it hits about .005. I'd be pumped. I'm talking even if it's 2025.

 

Had a small order for xmr which filled today @$200. Hoping for a bigger so drop, have set orders for $100+.

 

8% is pretty high, I guess the way to view it is that Gemini couldn't get a cheaper loan from the bank to provide that liquidity themselves, so it's like buying a junk bond issued by Gemini/blockfi?

 

I would say that's a good comparison.

 

All these governments are so concerned with crypto. Rightfully so.

 

In this case, .gov is concerned about the shenanigans going on with Binance. Rightfully so.

I suspect the Binance ecosystem will be taking a pretty big hit in the near future.

 

Especially their Smart Chain.

 

Yes, BSC is what I meant specifically. I do not expect to see $BNB pop as hard in the future. Wont be surprised to see it drop sub T10 EOY, especially if SOL and ETH become more productive and Lightening/Strike make headway. Many underestimate BTC L2 solutions for DeFi.

I'm starting to agree with a very strong Q4 for BTC and ETH. I'm ok if I'm wrong tho.

 

if binance goes down the whole crypto space including btc and eth will be hit. it's by far the biggest exchange and doing 8x of coinbase's volume.

 

Binance getting scary. pulled out my cash and xmr. my own speculation - singapore may actually have a positive view of binance but is under pressure by the US. with the closure of binance's fiat bank account, i was still able to cash out thru binance's p2p escrow system.

https://www.bloomberg.com/news/arti...w-up-with-binance-in-wake-of-global-crackdown

 

House of cards.