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Hey Nerds: Blockchain

What's the situation? You can hold say Bitcoin directly in a wallet, but you can also choose to have it on some platform like Coinbase where it's held for you? What's the upside/downside of it - that you can buy and hold easier than going direct, but then the platform could go bust and you somehow lose the crypto they're holding?
 
LeafOfFaith said:
What's the situation? You can hold say Bitcoin directly in a wallet, but you can also choose to have it on some platform like Coinbase where it's held for you? What's the upside/downside of it - that you can buy and hold easier than going direct, but then the platform could go bust and you somehow lose the crypto they're holding?
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In a nutshell, you are right. The video explains it a little better. Generally, people use exchanges as fiat on ramps (ie you e-transfer from your bank to an exhange), purchase crypto and then send it to their wallet. Some people are lazy and leave it on exchanges, and some exchanges will incentivize you to keep it on there (ie credit card programs, stake and earn programs etc).

 
fergy57 said:
In a nutshell, you are right. The video explains it a little better. Generally, people use exchanges as fiat on ramps (ie you e-transfer from your bank to an exhange), purchase crypto and then send it to their wallet. Some people are lazy and leave it on exchanges, and some exchanges will incentivize you to keep it on there (ie credit card programs, stake and earn programs etc).

Click to expand...

I'll give this a watch later, thanks, but the part I don't get is why would the exchange go bankrupt if the currency drops in value? They're supposed to be just holding it for presumably some fee, like a bank holds my US currency regardless of whether it rises or falls against other currencies, right?
 
That would be as crazy as having Superman hold it for you in the North Pole.

So anyway, with this news out, has it prompted a mass exodus from Coinbase by users? I know I'd bail within the first 5 minutes of this report if I was using them.
 
I feel like a cunt for doing this after the fact fintwit furu shit. But I'm excited so I'll share. I had a thesis going into today that AYR was going to pump 15% or more (upwards of 30+ providing the broad market rallied too). I did some research on why they tanked so hard and came up empty in terms of an actual *reason* other than a likely 1 month delay on NJ sales. The company sucks. I don't like them. I don't like how they've executed, I don't like their lack of cash and high debt. Plenty of things wrong with it. But that doesn't mean they're not cheap relative to peers. And that doesn't mean they weren't historically oversold on basically all timeframes and that a technical BIG bounce wasn't due.

Basically they're trading under current annual run rates, their revenues are gonna grow more than most MSOs this year and on May 24th they are having a meeting where Ayr likely gets approved for adult use sales in NJ. It's a long weekend, shorts feasted on this one, it based at around $6 and fluttered around there, so I started a position and added to it with an average of $6.16. The volume lessened and the selling pressure clearly lessened as well. My thinking is that, like with most Fridays before a weekend (and especially a long weekend) you're going to see a short covering rally on many MSOs. What makes AYR special in particular is that the NJ meeting is on May 24th. Shorts have driven the stock down to obscene levels. They did their job gloriously. Why would they not cover before the meeting? Even if you truly think they won't get approved (they should I think but who knows) you probably want to cover before that. No better time than now! That plus their daily, weekly, 4 hour RSI levels were at levels never seen in the stocks existence. A bounce was coming and I had May 20th circled on my calendar for quite some time.

TLDR: Today was fun and sorta undid every poor decision I've made this year in stonkville during a time where I have most of my money collecting 0.8% interest (okay maybe a little higher now) in a HISA. Now the goal is to use some of that money on an upgraded house (currently trying to sell mine and lol good luck with that Presto; market is a catastrophe) and put the excess cash back in the market at discounted prices!
 
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Preston said:
I feel like a cunt for doing this after the fact fintwit furu shit. But I'm excited so I'll share. I had a thesis going into today that AYR was going to pump 15% or more (upwards of 30+ providing the broad market rallied too). I did some research on why they tanked so hard and came up empty in terms of an actual *reason* other than a likely 1 month delay on NJ sales. The company sucks. I don't like them. I don't like how they've executed, I don't like their lack of cash and high debt. Plenty of things wrong with it. But that doesn't mean they're not cheap relative to peers. And that doesn't mean they weren't historically oversold on basically all timeframes and that a technical BIG bounce wasn't due.

Basically they're trading under current annual run rates, their revenues are gonna grow more than most MSOs this year and on May 24th they are having a meeting where Ayr likely gets approved for adult use sales in NJ. It's a long weekend, shorts feasted on this one, it based at around $6 and fluttered around there, so I started a position and added to it with an average of $6.16. The volume lessened and the selling pressure clearly lessened as well. My thinking is that, like with most Fridays before a weekend (and especially a long weekend) you're going to see a short covering rally on many MSOs. What makes AYR special in particular is that the NJ meeting is on May 24th. Shorts have driven the stock down to obscene levels. They did their job gloriously. Why would they not cover before the meeting? Even if you truly think they won't get approved (they should I think but who knows) you probably want to cover before that. No better time than now! That plus their daily, weekly, 4 hour RSI levels were at levels never seen in the stocks existence. A bounce was coming and I had May 20th circled on my calendar for quite some time.

TLDR: Today was fun and sorta undid every poor decision I've made this year in stonkville during a time where I have most of my money collecting 0.8% interest (okay maybe a little higher now) in a HISA. Now the goal is to use some of that money on an upgraded house (currently trying to sell mine and lol good luck with that Presto; market is a catastrophe) and put the excess cash back in the market at discounted prices!
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Big moves, hopefully they work out as planned!
 
Now you just gotta shill that house like a used car salesman and let the rest of your plan come to fruition.
 
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