Investing

The RFD - Cryptocurrency Mega Thread

Newbie
Jan 1, 2008
99 posts
22 upvotes
rodbarc wrote: Disappointed how CRV governance ended up with a CeFi setup in a DeFi space, now that veCRV distribution is visible. Unstaked my CRV and exited from the Curve pools until there’s better clarity and actual power for regular users to vote there. Until then, I expect CRV to keep depreciating.
Adding this article to help understand Rods comment:
https://decrypt.co/39599/curve-founder- ... ting-power
Deal Addict
User avatar
Nov 6, 2013
1350 posts
676 upvotes
Toronto
deger wrote: Adding this article to help understand Rods comment:
https://decrypt.co/39599/curve-founder- ... ting-power
rodbarc wrote: Disappointed how CRV governance ended up with a CeFi setup in a DeFi space, now that veCRV distribution is visible. Unstaked my CRV and exited from the Curve pools until there’s better clarity and actual power for regular users to vote there. Until then, I expect CRV to keep depreciating.


Rod
Wow, so they took total control of Voting, ultimately a CeFi
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
deger wrote: ^^^ I hope that's not news about a hack or fraud
No, OSC rules, because Bitmex doesn’t have KYC.

We have until February 2021 to withdraw. I won’t do KYC there. And liquidity will dry even more. Currently Binance liquidity is higher than Bitmex. And they have more products and more options.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
yearn building an yETH vault.

It will create a CDP to mint dai, put into stablecoins (ydai or ycrv) and use proceeds to buy more eth. It will be awesome. TVL will skyrocket. So will received fees. Which should reward who has staked YFI on ygov. Which should push YFI prices higher, because it won’t be minted anymore. And it’s more scarce than BTC.

Higher interest on ETH will be great to allow one to harvest the stablecoins income, as the ETH paid for gas grows again in the vault.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Addict
User avatar
Nov 22, 2002
2903 posts
594 upvotes
rodbarc wrote: It depends what you want to accomplish, and the time that you have to dedicate to this.

I invest, trade and get high yield income. Some coins are long term holdings, as I’m aligned with their usage / purpose /‘project. Other coins are merely to trade, through a bot that I built. And I collect interest from different projects in DeFi.

My setup is to have half of my BTC earning interest, where half of that is on CeFis and half is on DeFi (by having wrapped BTC in the ETH network). The high interest that I earn on stablecoins are used to buy more BTC and ETH, reducing my native cost. Profits from trades are settled in BTC, so that increases that stack as well.

For ETH, you can also have it earning interest in CeFi. Or you can go up a notch and use your ETH as collateral to mint DAI (stablecoin), and lend that DAI to earn interest, so you keep the ETH exposure and earn interest on the coin minted with your collateral. You can do other sophisticated things with that as well.

The crypto space has evolved nicely in a way that we no longer need to keep those coins as a pet rock. With gains come risks, so understand the different setups so you can invest accordingly.

Please let me know if you have any questions.



Rod
Looking to grow my position into a longer term hold, but probably no more than 5% (currently less than 1%).
I believe crypto is the future, but I am unsure which coin or platform will be the ultimate winner in the end.
I used to do mining, but it's just too much work babysitting the hardware.

Mostly likely I will buy during upcoming dips. Again, should I add more ETH or open a position in BTC?
I'll definitely check out CeFi.

Thanks for your feedback, as always.
Newbie
Jan 1, 2008
99 posts
22 upvotes
@rodbarc Do you hold YFI and stake to ygov to earn?

I've been reading about how one man is developing for yearn and has a unorganized structure at this point. Scary risk.
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
Magoomba wrote: Looking to grow my position into a longer term hold, but probably no more than 5% (currently less than 1%).
I believe crypto is the future, but I am unsure which coin or platform will be the ultimate winner in the end.
I used to do mining, but it's just too much work babysitting the hardware.

Mostly likely I will buy during upcoming dips. Again, should I add more ETH or open a position in BTC?
I'll definitely check out CeFi.

Thanks for your feedback, as always.
It depends on what you want to achieve. You hold BTC for different reasons than ETH. You can hold both. Whatever the choice you make, understand why you are making it, so you can endure the different cycles. There arguments for both sides. They can easily co-exist.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
deger wrote: @rodbarc Do you hold YFI and stake to ygov to earn?

I've been reading about how one man is developing for yearn and has a unorganized structure at this point. Scary risk.
Yes, I do, but it doesn’t quite work this way. One man (Andre Cronje) is the developer and creator of the ecosystem that can be dubbed as smartcoin: an automation system that enables a stablecoin to Earn high interest dynamically, based on the provider that pays the highest rates to lend it. YFI is the governance token, it’s well structured and organized, and Andre has no control over it, the community decides what gets done and implemented. YFI primary role is to vote on propositions, anyone can propose anything, there’s a minimum quorum required to execute on the final vote result (for or against the proposal). More info here: https://gov.yearn.finance/t/yfi-minting-ownership/155


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Newbie
Jan 1, 2008
99 posts
22 upvotes
rodbarc wrote: Yes, I do, but it doesn’t quite work this way. One man (Andre Cronje) is the developer and creator of the ecosystem that can be dubbed as smartcoin: an automation system that enables a stablecoin to Earn high interest dynamically, based on the provider that pays the highest rates to lend it. YFI is the governance token, it’s well structured and organized, and Andre has no control over it, the community decides what gets done and implemented. YFI primary role is to vote on propositions, anyone can propose anything, there’s a minimum quorum required to execute on the final vote result (for or against the proposal). More info here: https://gov.yearn.finance/t/yfi-minting-ownership/155


Rod
I am wondering how important Andre is though and what he offering:
1. Developer skill set - Is it readily available enough?
2. Innovator - The most valuable asset for them. Can't be replaced easily.
3. The Andre Cronje brand name - He is an up and coming Steve Jobs? He seem revered at this point by the community. How will yearn be impact if he leaves? The value of the system already built will certainly still provide its value when he leaves.

This is what I've been reading: https://www.learnyearn.finance/start-here/bear-yfi
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
deger wrote: I am wondering how important Andre is though and what he offering:
1. Developer skill set - Is it readily available enough?
2. Innovator - The most valuable asset for them. Can't be replaced easily.
3. The Andre Cronje brand name - He is an up and coming Steve Jobs? He seem revered at this point by the community. How will yearn be impact if he leaves? The value of the system already built will certainly still provide its value when he leaves.

This is what I've been reading: https://www.learnyearn.finance/start-here/bear-yfi
That’s a good site. He’s a machine, and a genius. The space might continue to evolve is he leaves but obviously won’t be the same. Still, I think there’s a place for this ecosystem and I’m glad the community is involved in the governance. It’s new, not mature yet, too soon to answer some of these questions. Diversification is key in this space. My YFI exposure is small compared to what is invested on vaults and other projects.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Addict
Aug 1, 2006
1423 posts
1043 upvotes
Toronto
rodbarc wrote: That’s a good site. He’s a machine, and a genius. The space might continue to evolve is he leaves but obviously won’t be the same. Still, I think there’s a place for this ecosystem and I’m glad the community is involved in the governance. It’s new, not mature yet, too soon to answer some of these questions. Diversification is key in this space. My YFI exposure is small compared to what is invested on vaults and other projects.

Rod

Yeah, I wish I had got into YFI early, not interested at this point. Mashinsky, CEO of Celsius, is also supposed to be a genius, he was one of the inventors of VOIP. In contrast, Kris Marszalek, CEO of CDC has a shadier past.

CEO of Monaco, Kris Marszalek, and 2 of his other senior executives held similar positions in a the company Ensogo. This company was forced to shut it doors middle of last year (2016), and suspended by the Australian Securities Exchange (ASX). They are being investigated for fraud and there are many looking to collect.
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
Bull Dog wrote: Yeah, I wish I had got into YFI early, not interested at this point. Mashinsky, CEO of Celsius, is also supposed to be a genius, he was one of the inventors of VOIP. In contrast, Kris Marszalek, CEO of CDC has a shadier past.

CEO of Monaco, Kris Marszalek, and 2 of his other senior executives held similar positions in a the company Ensogo. This company was forced to shut it doors middle of last year (2016), and suspended by the Australian Securities Exchange (ASX). They are being investigated for fraud and there are many looking to collect.
Kris story is always incomplete. He become the CEO of ensogo after acquired by another company, and their business model was to be an Asian Groupon. Things strated to go south, then he left the company as there was no future. Other people (including the original founders of ensogo) continued, until it went bankrupt.

So I think we might see a bankrupt company before an exit scam company. Big difference. If they manage it properly, it should thrive. Crypto.com has a lot of top talents, from different industries, on both tech and finance. What I always monitor is that if they can deliver on big promises, if their roadmap is aligned with their core product, and that continues to thrive. Cro is my best investment so far. They have a working exchange (cheaper to transact than Binance), a working Visa card (in Europe and US, soon in Canada), a high interest savings account for crypto, and high cash back using the card or buying gift cards. Few competitors have such offerings.

In the end, any CeFi can be exposed to issues, hence my diversification amongst 4 of them, and the rest in DeFi.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Newbie
Jan 1, 2008
99 posts
22 upvotes
I find it interesting how the interest earned from swaps and loans is relatively low compared to staking for governance tokens and selling it. They governance tokens have value mostly because there is another person willing to speculate on future value of the token. Bar that some token will pay out some earnings from protocol. Sure it allows one to participate in and vote on the feature direction of the company, but I don't think people are paying for this privilege but rather for speculation. As a governance token farmer you can choose to hold and speculate or cash out.

The other value I see is if the protocol's cash flow grows and more earnings are paid out to the gov token holders which should increase the token value. But given the high APY yielded from selling some gov tokens like CRV using yearn (90%apy), I can see why one could cash out now rather then hold.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)