Crypto currency

[GreenMachineX]

Make sure you stake it to get free coins at 11%+ and hold on. This is the biggest thing going. Based in Silicon Valley, huge VC backing, meeting self imposed deadlines, senior leadership team, the only project truly working on the bridge for DeFI, not to mention- the tweets and support of other projects. I mean, it is literally check, check, check of success and it is the very beginning.

*no advice here or crystal ball like prediction, and far from a moon boy, but I would say that it is worth a portion of any crypto investment if you are getting in. DYOR.

What does staking mean? I'm still new to this game.

 

[kisaj]

Okay, so you have bought into ONE. ONE works through validation of data by ePoS- their version of Proof of Staking. I'll let you read up on your own about why theirs is innovative and the details. Essentially to make this work, you need delegators and validators to keep everything secure. In this case, you "lock" your coins with a validator by delegating your coins to them- it makes the network work, secures it, and provides the "gas" (poor terminology but trying to make it easy) to keep everything on the chain valid. In return for lending your coins (you always own the key so they are always yours, not theirs) they pay you interest. So for example, I have 500k ONE and in return, they pay me about 400-500 coins a week simply to allow them to use them to validate transactions. They are mine, I can pull them anytime, but in the meantime, I am getting free money/coins. I would be holding them anyway, but now I get interest. Plus, it stabilizes the price because people aren't pulling out and selling on a whim, it takes 2-3 days to unstake. It is win/win.

I suggest you join the r/harmony_one group at Reddit for all the deets.

 

[GreenMachineX]

Okay, so you have bought into ONE. ONE works through validation of data by ePoS- their version of Proof of Staking. I'll let you read up on your own about why theirs is innovative and the details. Essentially to make this work, you need delegators and validators to keep everything secure. In this case, you "lock" your coins with a validator by delegating your coins to them- it makes the network work, secures it, and provides the "gas" (poor terminology but trying to make it easy) to keep everything on the chain valid. In return for lending your coins (you always own the key so they are always yours, not theirs) they pay you interest. So for example, I have 500k ONE and in return, they pay me about 400-500 coins a week simply to allow them to use them to validate transactions. They are mine, I can pull them anytime, but in the meantime, I am getting free money/coins. I would be holding them anyway, but now I get interest. Plus, it stabilizes the price because people aren't pulling out and selling on a whim, it takes 2-3 days to unstake. It is win/win.

I suggest you join the r/harmony_one group at Reddit for all the deets.

Gotcha. Shouldn't we be staking in the other like btc then as well, particularly the long term holds?

Looks like one dropped back off overnight. >_<

Otherwise, I'm looking at BNT too. It's gone from $2 to $7 this month. If it drops down to $2-4 again, I might buy into it and see if it comes back up.

And thanks for all the help with this.

 

[jameschoi]

Yesterday was the best one day buy the dip opp to buy anything since 2011. TSLA dipped down to 540. GBTC dipped to 38.

 

[GreenMachineX]

@kisaj Apparently binance.us stakes automatically from what I'm reading. So I'm good to go with one, but I don't meet the minimums for anything else at this time.

 

[BamBam54]

How many ONE are needed to submit for proof of stake purposes? What duration do they stay staked?

 

[kisaj]

@kisaj Apparently binance.us stakes automatically from what I'm reading. So I'm good to go with one, but I don't meet the minimums for anything else at this time.

They do, but I believe it is only 2-3%. Better than nothing if you don't feel like figuring it out, but if you do want to, it will be 10-13% right now. If you have a smaller amount, you'd be fine leaving it where it is.

 

[kisaj]

How many ONE are needed to submit for proof of stake purposes? What duration do they stay staked?

To delegate to a validator, only 1000. They stay staked for 9 Epochs if you choose to undelegate, which is a few days. If you don't want to unstake, they stay as long as you want.

Something about the ONE method of staking to be aware of because it is HUGE compared to any other staking protocol. They are using ePoS, so the validators will all have a voting input on updates, improvements, and other decisions. If your validator isn't active in this or making decisions you don't like, you can move to one that is to support that and influence the changes.

Now, don't go turning this convo into the other thread we are all in on. LOL

 

[GreenMachineX]

They do, but I believe it is only 2-3%. Better than nothing if you don't feel like figuring it out, but if you do want to, it will be 10-13% right now. If you have a smaller amount, you'd be fine leaving it where it is.

Oh, maybe I can't stake that high through binance your saying and need another way to invest in one?

 

[GreenMachineX]

Now, don't go turning this convo into the other thread we are all in on. LOL

Lol I like how we can disagree on issues in that other thread and over here is like that thread doesn't even exist.

 

[kisaj]

Oh, maybe I can't stake that high through binance your saying and need another way to invest in one?

No, you are fine. If you bought it, you are invested. I am only saying that your staking returns won't be as high. But if you are holding a lower amount, it probably isn't worth the time to move it because the rewards will be negligible. I don't know what you have or how much effort you want to put in, so just pointing out the difference in return.

 

[GreenMachineX]

No, you are fine. If you bought it, you are invested. I am only saying that your staking returns won't be as high. But if you are holding a lower amount, it probably isn't worth the time to move it because the rewards will be negligible. I don't know what you have or how much effort you want to put in, so just pointing out the difference in return.

No, you're right on point. If I'm understanding correctly, I could replace my weekly paycheck with staking in ONE. This is blowing my mind. Just downloaded the harmony one wallet extension. Trying to figure this out...

 

[GreenMachineX]

@kisaj
I'm also wondering though, why wouldn't I put more into one than everything else being that the staking return is so high and it has so much potential?

 

[kisaj]

No, you're right on point. If I'm understanding correctly, I could replace my weekly paycheck with staking in ONE. This is blowing my mind. Just downloaded the harmony one wallet extension. Trying to figure this out...

The enthusiasm is awesome, but this is still crypto and the staking rewards are not going to replace a paycheck at this point. Remember, this is literally the very beginning of this and anything can happen. All signs point to it being very successful, but always need to be cautious.

 

[kisaj]

@kisaj
I'm also wondering though, why wouldn't I put more into one than everything else being that the staking return is so high and it has so much potential?

Well, that is up to your risk/reward limit. One and Matic/Polygon are where I have most my money invested outside of the BTC I am holding.

 

[tyga tyga]

@kisaj I did. Exciting times lol I have a buy order open again if it drops to .034 the sell wall is MASSIVE (all around 0.044

 

[GreenMachineX]

@kisaj I did. Exciting times lol I have a buy order open again if it drops to .034 the sell wall is MASSIVE (all around 0.044

I'm still learning this language. Can your restate this differently please? LOL

 

[THOR 70]

I'm still learning this language. Can your restate this differently please? LOL

His platform will automatically buy a set dollar amount if it hits that low level again

 

[tyga tyga]

Edit*

 

[GreenMachineX]

No, you are fine. If you bought it, you are invested. I am only saying that your staking returns won't be as high. But if you are holding a lower amount, it probably isn't worth the time to move it because the rewards will be negligible. I don't know what you have or how much effort you want to put in, so just pointing out the difference in return.

Last question, until the next one, LOL, but is that 10-11% return through staking per year?

 

[tyga tyga]

Last question, until the next one, LOL, but is that 10-11% return through staking per year?

Yes.

 

[GreenMachineX]

Everything is going back up! Still have a ways to go to get that grand i lost, but I'm going to stake quite a bit in one today now that I figured it out.

 

[tyga tyga]

Everything is going back up! Still have a ways to go to get that grand i lost, but I'm going to stake quite a bit in one today now that I figured it out.

Passive income with staking can earn that grand back gradually (when price increase happens).

If you use Guarda wallet, their staking is 11% - if you chose not to use chrome extension on harmonys site.

 

[GreenMachineX]

Passive income with staking can earn that grand back gradually (when price increase happens).

If you use Guarda wallet, their staking is 11% - if you chose not to use chrome extension on harmonys site.

I'll be using the chrome extension for now since I already got so far with it. Thanks for the recommendation though. I'll take all the help I can get. I'm loving this. Lol

 

[GreenMachineX]

On that reddit harmony ONE thread, has anyone seen the recommendation to hold 300k coins to earn $1M?

 

[kisaj]

That is based on speculation that market cap could see 30b, which is entirely possible as more money comes in and adoption increases. Which would make each coin ~$3, translating into approx $1m.

For any newcomers, I would say to steer clear of the Viper DEX liquidity play. The returns are insane, but it is a little complicated to get set up with Meta Mask and your Harmony wallet, so you can accidentally lose coins and if you do get synced with them, there is always a risk of loss right now because they are trying to build up. Granted it is not a large risk, it is still there and you effectively give up access to 95% of your investment until Dec 2022. A lot can happen in that time.

 

[kisaj]

Hopefully some of you listened to me when I mentioned Matic/Polygon. They just announced they will be listed on Coinbase Pro on Thursday. Obviously saw a spike, but with recent partnerships, Jack Dorsey supporting them, and an actual working product, as soon as the public starts hearing about it and the exposure on CB, it will be taking off.

 

[GreenMachineX]

Hopefully some of you listened to me when I mentioned Matic/Polygon. They just announced they will be listed on Coinbase Pro on Thursday. Obviously saw a spike, but with recent partnerships, Jack Dorsey supporting them, and an actual working product, as soon as the public starts hearing about it and the exposure on CB, it will be taking off.

Missed that mention. Guess I need to look into that one as well!

 

[GreenMachineX]

Well, that is up to your risk/reward limit. One and Matic/Polygon are where I have most my money invested outside of the BTC I am holding.

Did you get rid of enjin?

 

[kisaj]

No, I just sold a chunk of of. That one will keep rising so I don't want to give up my position.

 

[jameschoi]

Off topic here, would you buy RBLX for the long term?

 

[GreenMachineX]

@kisaj
Question on staking on harmony, I choose delegators that have a >99% uptime, return >10%, low fees (1-3%) but up to max change fees up to 10%. Latest return also said >10% for all, but I'm noticing in the past week of this there's no way the amount of rewards will add up to 10% of my total amount staked if I multiply my rewards this week by 52 (for 52 weeks in the year). Does it take a while to gain some traction or maybe I choose delegators who change the fees rapidly up to 10% too often, or perhaps something else I'm missing?

 

[kisaj]

I would recommend going over to the "Getting Started" header on r/harmony_one as they have how the staking works all explained in detail. It has something to do with fees and rewards being paid per-block and the rate that occurs can change the payouts. Not really sure, it's not an area I have deep dived, I just know that it is the only way to get most staking rewards- compared to keeping it on an exchange.

 

[BamBam54]

Off topic here, would you buy RBLX for the long term?

I know my kids loved the Roblox game, and Cathie Woods just bought in with her Ark fund, and she is my go to gal.

 

[kisaj]

My youngest plays it all the time with her friends, but I am not sure how well it translates into a good investment. I'll need to look into it more. I was unaware of it being offered, so thanks for posting it up.

My gut says don't buy now because everything is opening up again, at least in the US, and kids will start moving away from being on their devices- at least mine will dammit. Lol

 

[tyga tyga]

Skale and Polys white papers seem VERY similar. Skale mooned once it hit coinbase and Poly has stayed within 0.05-.07 after listing (IThat’s a good thing)- won’t have massive sell offs that’ll tank the price IMO.

 

[kisaj]

It would be difficult to explain the difference in the projects because it is true, they are similar. Though Polygon is a bit more ambitious with scalable sidechains and the bridging is apparently far more user friendly, making developers choose it over the competition. Oh, there is also the little fact that CB has invested in it as well and has stated that they plan to continue pumping money into the further development.

So yeah they are close and the differences seem negligible, but my money, literally, is on Polygon.

 

[GreenMachineX]

just my way of looking at it but

btc is unlikely to go 10x currently value anytime soon - just because of the sheer value that would place on it.

alt coins at a few cents have much better chance to go 10/20/30 x value etc

clearly much riskier but in terms of big life changing gains that’s where the opportunity lies. Btc is like any other investment now in many ways as you are looking at 10, 20 or 30% gains which could also be achieved through normal stocks and shares for example.

that’s me saying it’s a bad investment, just that it’s now on a par with some of the riskier stocks and shares options out there

whereas the low value alt coins carry massive risk but massive reward

so what do you want, possible life changing money or smaller more typical investment type gains?

I've been thinking more about this last question. As I already have slow growing investments in different things, I'm going to pull my bitcoin and put it in one, matic and enjin. I'm looking for a real game changer here. Sure, I might lose it. But my wife and I agreed on a starting point that we would be okay with losing if it all went completely sideways. Even at that, I really believe in this stuff taking off.

Is there anyone else doing something similar without any bitcoin?

 

[tyga tyga]

It would be difficult to explain the difference in the projects because it is true, they are similar. Though Polygon is a bit more ambitious with scalable sidechains and the bridging is apparently far more user friendly, making developers choose it over the competition. Oh, there is also the little fact that CB has invested in it as well and has stated that they plan to continue pumping money into the further development.

So yeah they are close and the differences seem negligible, but my money, literally, is on Polygon.

I put a decent amount into matic as well. When ONE jumped to 0.06 and broke that resistance, I imagine come next Monday 0.06 will be the new flatline.

 

[jameschoi]

DEGO up 90%

 

[GreenMachineX]

Is the typical pattern that these coins rise throughout the week, then drop off during the weekend, then rise a little higher the following week? I know not all of them, but that's what I think I'm noticing with some of these I'm following.

 

[sinewave3]

Woo boo bitcoin over 60k!

 

[tyga tyga]

Some alt coins were doing a decent pump, VET and ONE.

I don’t care for mana, omi or loom but they moved quite a bit.

 

[GreenMachineX]

I just started another all things stocks thread to expand our discussions of anyone is interested...

 

[tyga tyga]

How often do you guys invest? Do you have a reoccurring buy on specific projects or do you allot “x” amount a week/month.

For smaller investments (VET/ONE - I’m using a DCA and investing twice a month).

MATIC- I buy when I see a (decent) dip or if there is a lot of sell orders open and place a low buy order.

ETH- eh, whenever I can lol

 

[kisaj]

Is the typical pattern that these coins rise throughout the week, then drop off during the weekend, then rise a little higher the following week? I know not all of them, but that's what I think I'm noticing with some of these I'm following.

Yep, very common. Crypto never sleeps so the weekends tend to do resets and then rise come beginning of week. I’ve held off on purchasing later in the week and pick up on Mondays. Except for ONE, which I broke my pattern and added a ton on Friday which worked out.

 

[kisaj]

How often do you guys invest? Do you have a reoccurring buy on specific projects or do you allot “x” amount a week/month.

For smaller investments (VET/ONE - I’m using a DCA and investing twice a month).

MATIC- I buy when I see a (decent) dip or if there is a lot of sell orders open and place a low buy order.

ETH- eh, whenever I can lol

About the same here. Unless I see a big dip and then I move it up.

 

[kisaj]

Some alt coins were doing a decent pump, VET and ONE.

I don’t care for mana, omi or loom but they moved quite a bit.

Mana is riding up on the Atari news and the NFTs. I just don’t like the project at all. I was going to jump in a couple years ago and it seemed gimmicky. I could be wrong, just my thoughts.

 

[tyga tyga]

Mana is riding up on the Atari news and the NFTs. I just don’t like the project at all. I was going to jump in a couple years ago and it seemed gimmicky. I could be wrong, just my thoughts.

VERY gimmicky, although due to VR (like oculus) - I can see where this specific project is appealing. But, I’ll pass lol

ONE, VET and Matic have my attention for the time being.

 

[kisaj]

Hello ONE!

This is a pump no doubt, but it will settle higher. I never give any crypto financial advice, but I would break that rule and tell anyone with some extra money that wouldn't mess with their lives to put some in this. My gut has never felt like this with any project in the last 4-5 years.

I may be wrong, I have no guidance from anything other than experience and research, so don't come at me if things don't go as I think they will. Lol