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Hey Nerds: Blockchain

CH1

The Artist Formerly Known as chiggins.
Also, it was possible to hold two opposing ideas at once....Doubt it + throw 5K at it just in case
 

fergy57

Well-known member
Lots of options with that too. If you intend to sit on it as btc, you can stake it on a number of different exchanges. Not trying to pump a product, but I currently use crypto.com for my staking (making 6.5% apy on btc rn). There are other exchanges that offer similar/better rates, I chose them because I wanted to get one of their metal visa cards lol.
 

CH1

The Artist Formerly Known as chiggins.
I shouldn't have slept on my doge yolo play....

that one is hard to figure out...at least with Bitcoin there is built in scarcity

No limit to how many DogeCoins can be issued...but that doesn't seem to be a problem. LOL
 

MindzEye

Wayward Ditch Pig
that one is hard to figure out...at least with Bitcoin there is built in scarcity

No limit to how many DogeCoins can be issued...but that doesn't seem to be a problem. LOL

Yeah, that wasn't a "set it and forget it" crypto play for the future (I would definitely pick and Ether coin for that). It was more like "what tulip mania can I get out in front of today" and decided to do some digging this week.
 

fergy57

Well-known member
Dogecoin almost seems to be like a wave to ride at this point, get on, ride a pump and get off.

But yeah, I think its something like 5m dogecoins are mined every day. It currently has a market cap of 92 billion $CAD, and its latest surge has seen a 24 hr trading volume of 50 bn $CAD.


Here are some decent coins that could be good 'set it and forget it' picks:

Cardano (ADA)- made by a couple of the co-founders of Ethereum, its pricing is mostly built on hype and speculation at this point. IOHK/IOG (the company that built Cardano), recently signed an agreement with the Ethiopian ministry of education to onboard and track high school students grades on the Cardano blockchain (link: Ethiopia deal). Big news in both use case, as well as the fact that this is a deal between a government and a blockchain company that will bring millions of users into it's ecosystem. Currently Cardano doesn't have smart contracts functioning yet, but that should be coming in q3ish this year (and I think the price currently reflects that).

Cardano also uses proof-of-stake, so you are able to stake your coins right on their network and collect interest on them. Expect ~5% (maybe as high as 8%), apy on the network. A thing to note is that this is paid on the quantity of coins you are staking, not the dollar value (ie: if I were to stake 1,000 ADA and leave it for 10 years, I would have ~1,600 ADA at that point- independent of the actual price of the coin).

Current coin price: ~$1.60 $CAD
Coins in circulation: 31bn
Max supply: 45 bn
Market cap: 52bn $CAD

Vechain (VET)- Vechain's primary focus so far has been the supply chain industry. I like this coin because it already has a lot of real world partnerships and pilot programs with big name companies (BMW, Walmart china, puffbar, to name a few). Lots of potential for growth here. Some risk in that they are based out of China, which could affect their ability to land some more lucrative and well known American partnerships. Not currently listed on coinbase, which should happen this year (lookup the coinbase effect to see how it affects coins being listed on their exchange).

Vechain can be staked on exchanges, or directly on the Vechain blockchain. Some exchanges pay you in Vet, some pay you in Vthor (it's vechain's fuel coin). Some, like Binance, pay you in both.

Current coin price: ~0.25 $CAD
Coins in circulation: 64.32bn
Max supply: 86.71bn
Market cap: 15.46bn $CAD


Polygon- Polygon is a layer 2 ethereum solution for scaling. Long story short, they process transactions far cheaper and faster than directly on the ethereum network. They seem to be coming out with new partnerships every day that want to take advantage of their fast and low fee transactions. Currently, they are almost out producing eth in transactions per day, which is pretty amazing for the short period of time that they have been live. They had their coinbase pump already (.20-.30 before, .40-.60 after), and have been on a steady climb to the $1.00 CAD range (minus todays market correction). I think this project has some good things coming price wise. It has the transactions that Eth does, its loading up on partnerships, but the price of the coin doesn't reflect its value yet (imo).

Current coin price: ~0.90 $CAD
Coins in circulation: 5.19bn
Max supply: 10bn
Market cap: 4.67bn $CAD


Crypto.com coin (CRO)- Crypto.com is an exchange/platform that operates their own blockchain/mainnet, similar to what Binance does. I included this coin here because I see bright things in their future. They have a very strong approach to marketing and offer a lot of great products for their users (crypto earn- they offer attractive rates on many coins, crypto.com VISA cards- this card was the card used to process the first transaction in cryptocurrency for VISA, they have their own defi wallet). They sponsor and F1 car/driver and you may have noticed their logo on the ice at the Bell Centre. In October of last year they had ~5m users on their exchange. In march, they surpassed 10m users. Their goal within the next 5 years is to have 100m users. Lots of long term potential and solid interest in the short/mid term.

I can go on a little breakdown of their VISA products if anyone is interested (imo they are the best options currently availbale), but I already figure I'm hyping them up enough here.

Current coin price: 0.21 $CAD
Coins in circulation: 25.26bn
Max supply: 30bn
Market cap: 5.33bn $CAD


Other honourable mentions: Tezos, Polkadot, Chainlink, Litecoin, Holochain (real long term and speculative one there).

The list goes on. Lots of coins have a lot of potential. The ones that have grabbed my eye the most so far are the ones with good use cases and solid partnerships.

Btc and Eth are still the OG's, and are still probably the 'safest' bet for the long term.

If anyone is looking for youtube videos to watch, the 2 channels I've found to be the most helpful/least youtube dog-shitty are:

Into the cryptoverse- A guy by the name of Ben Cowan. Mostly chart analysis, but does it in a no nonsense/no shilling way that can give you better insight into how/why prices trend the way they do. Also has some good videos on how to look at balancing your portfolio for risk/reward etc

Coinbureau- The guys name is Guy. His video titles and thumbnails can be a bit cringey (he plays the yt algorithm game), but his analysis is no nonsense with some dry british humour mixed in. He will make a video about a coin and do a good breakdown on its use cases, partnerships, risks/potential etc. He also has some videos about portfolio construction, common mistakes to avoid as a beginner, etc. If you are interested in a coin, it may be a good idea to see if he has done a video about it before you decide to do a deep dive (of learning), on that coin.
 
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fergy57

Well-known member
Oh yeah, a tidbit on Polygon I forgot to mention.

The easiest way is to copy the reddit post, here: Polygon will be mandatory for ALL Egyptian imports from July 1.

tldr on the reddit is that CargoX (another blockchain for uploading documents securely, recently went from .01 to .30), has a partnership with the Egyptian government for uploading and storing all of their bills of lading. Expected volume is 6-30m transactions per year. CargoX will use Polygon as their layer 2 solution (on Ethereum), for these transactions (far lower cost/transaction for CargoX vs using Eth).

This news hasn't really caught on or been picked up by any major media, so I don't think its been factored into the coin price yet.
 

CH1

The Artist Formerly Known as chiggins.
Oh yeah, a tidbit on Polygon I forgot to mention.

The easiest way is to copy the reddit post, here: Polygon will be mandatory for ALL Egyptian imports from July 1.

tldr on the reddit is that CargoX (another blockchain for uploading documents securely, recently went from .01 to .30), has a partnership with the Egyptian government for uploading and storing all of their bills of lading. Expected volume is 6-30m transactions per year. CargoX will use Polygon as their layer 2 solution (on Ethereum), for these transactions (far lower cost/transaction for CargoX vs using Eth).

This news hasn't really caught on or been picked up by any major media, so I don't think its been factored into the coin price yet.

Good stuff. What crypto exchange/broker do you like?
 

CH1

The Artist Formerly Known as chiggins.
taking a stab at my old friend PTON at 82.40. Looking for a mean reversion bounce -- tight leash
 

fergy57

Well-known member
Good stuff. What crypto exchange/broker do you like?

I've been using crypto.com for the most part. It offers what I want. Their phone based app gives a buy/sell range, so isn't really good for day trading. They have a browser based exchange that allows leverage trading, but I haven't tried that yet.

I dabbled in some leverage trading- not for me. I tried bybit and phemex for those. Bybit was nicer, but phemex offered more coins to trade with (higher fees from what I could tell).

For just btc/eth, shakepay isn't a terrible option (for Canadians). It's easy to use and fast. E-transfers normally process within 5 minutes. Limited options though. You can just buy/sell btc and eth right now (though you can transfer CAD on their network incredibly fast to other users).

I've heard decent things about Kraken and they offer some decent interest when staking coins. Binance seems decent, but have higher fees than others. Coinbase is the same way. I hear regular coinbase has high fees, but coinbase pro is a better platform.
 
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CH1

The Artist Formerly Known as chiggins.
thanks, man. I started a Kraken account ages ago...so maybe I'll check it out. and crypto.com
 

Preston

The Artist Formerly Known as Goldust
I went haevy WITH CONVICTION on that play. All out at 1.62. MSOS is buying. Rotated to AYR @ 34.50. That's another sleepy name that will eventually awaken.
 
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