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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

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On 5/8/2020 at 8:31 PM, Nice Guy Eddie said:

~3 days to the halving block. 10k looks to be a ceiling at the moment but something tells me it breaks through closer to 11 over the weekend. But I could just as easily see it drop to 9 some point next week. 

My prediction of 11 came nowhere close unless something crazy happens in the next 3 hours. I did throw some excess funds at btc at 8400 over the weekend.

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3 hours ago, Nice Guy Eddie said:

If someone is interested in earning bitcoin just by shopping, this site gives you a reward of some purchase in bitcoin. some percentages as high as 9%

https://lolli.com/ref/H4uZBJwUan

I get a small reward if you use that link, or just go to lolli.com.  list of stores with a reward: https://www.lolli.com/stores

If I click on that link I will get internet coronavirus.

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On 5/16/2020 at 12:52 PM, Nice Guy Eddie said:

If someone is interested in earning bitcoin just by shopping, this site gives you a reward of some purchase in bitcoin. some percentages as high as 9%

https://lolli.com/ref/H4uZBJwUan

I get a small reward if you use that link, or just go to lolli.com.  list of stores with a reward: https://www.lolli.com/stores

Lolli is legit. I’ve used it for about 6 months. Got like $100 in BTC for a Saks wife purchase.  
 

Also have been using this app Fold for the same purpose. Smaller rewards percentage wise, but they’re immediate when you buy gift cards to merchants. https://foldapp.com

 

The rewards I’ve been getting I kick over to BlockFi where I hold a small amount of my BTC in an interest bearing account. 6%APY, paid in BTC. That’s how I’m passively earning extra crypto. 

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10 hours ago, GRHorn said:

Lolli is legit. I’ve used it for about 6 months. Got like $100 in BTC for a Saks wife purchase.  
 

Also have been using this app Fold for the same purpose. Smaller rewards percentage wise, but they’re immediate when you buy gift cards to merchants. https://foldapp.com

 

The rewards I’ve been getting I kick over to BlockFi where I hold a small amount of my BTC in an interest bearing account. 6%APY, paid in BTC. That’s how I’m passively earning extra crypto. 

Sounds like you're being cautious with blockfi which is good. I wonder how these BTC or ETH interest sites really work. There is a lot of risk since they're all unregulated. They could be a ponzi scheme or subject to hacking. Very dangerous to give someone your keys or transfer BTC to them trusting them to return it later. 

It's tempting to do something with idle crypto but I don't trust to give them to anyone. I'm looking forward to ETH staking as that is a method to earn interest without giving up control. Usually the one downside is that the coins are locked up for a period of time. However if you're a long term holder, it doesn't matter.

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16 minutes ago, Nice Guy Eddie said:

Sounds like you're being cautious with blockfi which is good. I wonder how these BTC or ETH interest sites really work. There is a lot of risk since they're all unregulated. They could be a ponzi scheme or subject to hacking. Very dangerous to give someone your keys or transfer BTC to them trusting them to return it later. 

It's tempting to do something with idle crypto but I don't trust to give them to anyone. I'm looking forward to ETH staking as that is a method to earn interest without giving up control. Usually the one downside is that the coins are locked up for a period of time. However if you're a long term holder, it doesn't matter.

Lulz, I would love to see the business model that allows them to pay 6% interest in today's markets. I have to assume that its tied to the premise that Bitcoin will always go up forever, so what could go wrong. 

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43 minutes ago, Nice Guy Eddie said:

Sounds like you're being cautious with blockfi which is good. I wonder how these BTC or ETH interest sites really work. There is a lot of risk since they're all unregulated. They could be a ponzi scheme or subject to hacking. Very dangerous to give someone your keys or transfer BTC to them trusting them to return it later. 

It's tempting to do something with idle crypto but I don't trust to give them to anyone. I'm looking forward to ETH staking as that is a method to earn interest without giving up control. Usually the one downside is that the coins are locked up for a period of time. However if you're a long term holder, it doesn't matter.

I was concerned about the counter party risk as well. I initially put a micro amount in last year just to follow how it functioned. No hiccups at all. Then the big market crash happened. Everything still ran smoothly with their business. I decided then that their business model and risk management strategies were robust enough to allocate a significant percentage to it. Currently 25% of my holdings are there.
 

Their custody is through Gemini, which is the Winklevii operation and they have VC backing from some of the more serious people in the space. They’re the leaders in this kind of business. 
 

As far as who they lend to and the counter party risk involved this podcast with the executives in charge also really helped answer some questions I had. Basically they lend to market makers and institutional investors.  
 

https://podcasts.apple.com/us/podcast/the-what-bitcoin-did-podcast/id1317356120?i=1000471768737
 

34 minutes ago, Blotto said:

Lulz, I would love to see the business model that allows them to pay 6% interest in today's markets. I have to assume that its tied to the premise that Bitcoin will always go up forever, so what could go wrong. 

You can listen to the podcast if you like. I assume the higher interest is due to the risk premium. Yes there is more risk, but I think as the business model and space are deemed more sound the interest rate will drop over time. 

Here’s my ref link Blotto  😉 

https://blockfi.com/?ref=04f9a112

 

 

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