When will you sell your Bitcoin?

Discussion in 'Digital Currencies' started by hawkeye1, Feb 18, 2021.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I said you don’t understand the value of DLT coz you’re not into it.

    It’s the biggest thing to happen in the history of the financial space.
     
    Last edited: Feb 20, 2021
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  2. Jason1

    Jason1 Well-Known Member

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    Oh ok, so because you say i dont, that must be true.

    Like I said another misrepresentation via pathetic assumptions.

    You seriously want to sit here all night having arguments about the fundamentals of ledger tech and blockchain?
    To try and impress a douche drinker like you?
    fuck that, ill leave you to discuss that with your self on your imaginary debates you do.
     
    Last edited: Feb 20, 2021
  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    We could if you wanted too.

    But seriously, if you really understood it then you’d be super excited about what it represents and you’d be scrambling to get involved in it.
     
  4. hawkeye1

    hawkeye1 Member

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    Cryptocurrency is pretty much the only proven use case for blockchain at this point in time.

    The whole narrative of "blockchain but not Bitcoin" hasn't turned out well for those advocating it.
     
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  5. Jason1

    Jason1 Well-Known Member

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    be interesting to see in the future, there are some very interesting projects going on that are adapting blockchain out side of the cryptocurrency world. cryptography and record keeping of sensitive information is likely very useful, in the financial world and security of many types.
     
    Last edited: Feb 20, 2021
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  6. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Smart contracts take DLT adoption beyond crypto currencies.
     
  7. hawkeye1

    hawkeye1 Member

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    We'll see , I'm not seeing much right now and IBM have pretty much ditched their entire blockchain team.
     
  8. heartastack

    heartastack Well-Known Member Silver Stacker

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    Don’t forget Pepe the frog was probably the first use of blockchain after coins
     
  9. neonuke

    neonuke Active Member Silver Stacker

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    @Brendio hope you don't mind me asking, this is the part I don't fully understand. If you have crypto assets sitting in Nexo, and you withdrew the loan funds into your bank account, does the collateral crypto still sit there earning interest? What's the interest rate on the loan funds vs the interest you're earning off the crypto asset?
     
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  10. Jason1

    Jason1 Well-Known Member

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    was it IBM that was trying to utilize Miota a few years back? , If I remember correctly it was one of the reasons IOTA had much success in that big pump at the end of 2017-early 2018
     
    Last edited: Feb 20, 2021
  11. leo25

    leo25 Well-Known Member Silver Stacker

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    Nope, it was just some BS story crypto people wanted to believe in order to pump it.

    IOTA was a massive flop, not a surprise since the creator David Sønstebø was a scamming idiot. It's been a while since I've had an IOTA rant. :)
     
    Last edited: Feb 21, 2021
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  12. Jason1

    Jason1 Well-Known Member

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    fair enough, there was lots of bullshit rumors Circulating on coins and partnerships with the real world companies, that helped with the pumps in those days, so doesn't surprise me that was one of them, but God damn that was one hell of a pump iota had. It was clear it wasnt going to last though.
     
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  13. Brendio

    Brendio Active Member

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    I think things changed since I first got the loan. Initially they only paid interest on stablecoins. They since brought in interest on cryptos. It looks like the interest is paid on "excess" collateral. Since the BTC price increased, my LVR decreased from initially around 50% (you need twice the value of the loan in collateral) to now 6.5 %. I could withdraw most of my collateral, but I am leaving it for now. I would not risk my whole stash on Nexo because of the whole, "Not my keys ..." business. So, I think about 13% of my crypto is counted as collateral and I'm getting interest on the other 87 %. If bitcoin tanks, then more of it will be counted as collateral again.

    The interest rate levels are dependent of whether you hold NEXO tokens and how many as a percentage of your total portfolio on Nexo. I tried linking where the rates are, but it is on my personal profile page and it is not visible without logging in. The rates in their FAQ seem to be outdated (like I said, things have changed). I am on the silver level and I pay 10.9% on the loan and get 5.25% on crypto and 8.25% on stablecoins. If choosing to be paid in NEXO tokens, you get a bonus 2%, so I'm getting 7.25% on my crypto, paid in NEXO tokens. If I bought more NEXO tokens to have 10% of my portfolio in them, I would reach the pltinum level and my loan interest would drop to 5.9% and my crypto savings interest would increase to 8%.

    The value of Nexo tokens has tripled lately. I am wondering whether to use some of them to pay a bit off the loan. I'm trying to work out whether the tokenomics will keep driving a price increase in them, but it is a risk if I get paid high interest rates denominated in a token that then crashes in value.
     
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  14. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    ^hang on to the Nexo tokens @Brendio, its gone up since they opened their own exchange a few weeks ago and of course there is the dividend payment later in the year. Number of tokens and length of hold determines how much your dividend is
     
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  15. hawkeye1

    hawkeye1 Member

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    As my LVR went down, I borrowed a bit more to buy more BTC. Still being very conservative though. The price could drop 70% before I get margin called, so my risk is still pretty small at this point. And I've got funds elsewhere that could be pumped in to be used as collateral if necessary. Sometimes I think I should have taken on more risk but I'm reasonably happy with my current amount of BTC.
     
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  16. hawkeye1

    hawkeye1 Member

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    Yeah, I reckon they are worth holding on to. I like Nexo so far. They seem fairly solid. If they stick around they should be able to grow quite substantially as being one of the first in this space. Either that or they will get bought out.
     
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  17. hawkeye1

    hawkeye1 Member

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    The other thing I like about Nexo is the interest repayments you make are denominated in USD whereas interest payments to you are denominated in Crypto. The latter goes up as prices go up, while the former stays mostly constant. It's reasons like this why I think crypto just has to win at this point. It makes too much financial sense. It also makes sense not to sell your crypto, which, as time goes on, will lead to greater demand for it. Gresham's Law at work.
     
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  18. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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  19. dozerz

    dozerz Well-Known Member Silver Stacker

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    which captain swapped his ship for a tulip?
     
  20. Jason1

    Jason1 Well-Known Member

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    every Aussie knows the answer to that question.
    captain cook who had this amazing ship, he swapped it for a hand full of rare tulips, but sadly the price went down on tulips and due to paper hands he sold his tulips, As a result could only afford a coal ship which he renamed to the endeavour in memory of his fine ship he swapped for tulips.
    his crappy investment caused him so many problems that his cheap coal ship broke down off the coast of australia.

    Disclaimer, story may or may not have actually happened as told above lol
     
    Last edited: Feb 22, 2021

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