Yes, I used the loan to buy ETH. The monthly interest payment is negligible, and I've nearly doubled the value of the amount I borrowed. I have considered taking out a further loan, but I don't want more exposure to Celsius.

Regarding the other platforms- as you say BlockFi's rate is worthless now and it's not worth using them unless you have less than 0.1BTC. ledn offer 6.1% on up to 2BTC so I've just opened an account there.

I wrapped a small amount BTC on AAVE a while back, just for the experience. It was only a very small amount so I could get familiar with the process. Gas fees are high but I may look back into that now.

If you're looking to put up a decent amount as collateral, and/or if you're looking to earn interest on your BTC, then I think it's advisable to use multiple platforms. In addition, a lower LTV is safer of course. I'd stick to 25%, although if we think that BTC volatility has/will reduce then could increase LTV to 50%.

Those looking for returns on BTC - I'm using sovryn to provide liquidity to a usdt-rbtc pool, it's a single sided pool (no impermanent loss since I you provide only rbtc) It uses a sidechain called RSK. I don't really have technicals knowledge I just took some money and explored.

So far it's been around a week, I just barely started making more than my deposit with all the transfer and fees. APY varies from 50% to 5% daily.

I've also been LP'ing for a while (around a month I'd guess) the sov-rbtc pool, high apy but sov is a sht coin so big risk of impermanent loss on your bitcoin.

The value is that you keep your keys and do not have counterparty risk like celcius.

Liquidity in a pool who's blockchain is based on Proof of work?
what

Malaka... n: Wanker, Morally Weak

For cefi Ledn is good, they deal only with Genesis. FTX will give you 8% on the first 10k in your account(including fiat) and 5% on everything over that. I’d say Gemini earn is very safe but you get the lowest apy there.

Lots of good options if you wanna wrap btc on Ethereum.

Idk, the pool APY is the fees the protocol makes, so if someone is using rbtc/usdt on the sovryn protocol, I get a part of the fees.

If you have good technical knowledge and can figure out it doesnt work/it's scammy I'd be happy reading about it!

Good thing you got out of crypto years ago and figured out it wasn't a good way to get rich.

enjoy grinding 25/50 lol

Got out in July, missing the ADA top for about a month but it is what it is. Cashing out > paper gains.

Crypto - unregulated negative sum game where I don’t have an edge.
25/50 - regulated negative sum have where I know what my edge is, and I was never told by a casino they have “technical issues” when I try to cash out.

https://www.reddit.com/r/CryptoCurre...tm_name=iossmf

First one that comes to mind. Binance is even worse. Coinbase with their own funny bux USDC.

Bittfinex owning Tether would be illegal in literally any regulated industry, but crypto bros have this magic acronym FUD they use any time they want to ignore reality.

FUD - Facts U Dislike hehe

tom brady just did a crypto ad on tv, the top is in boys

I love me some Bitcoin, but I think Rand Paul is re-tarded.

The top is coming in December or January for this cycle. I think it goes to $100K+.

anyone use coinbase to borrow USD against their BTC? interest rate is at 8%, so not sure about arbing against Ledn for that 1%

https://www.coinbase.com/borrow

It’s hilarious seeing this and “we are still early, mass adoption in x years”. At this point diagram of people having access to internet/tv and having heard of crypto is already a circle.

I've been reading this in lots of places, additionally that "when FOMO sets in" you know you're at the top. I can't figure out why Joe Schmo (me, basically. Though I completely believe in it long term, no intent to trade) trying to buy in means its on the way down. Isn't that the goal, to have everyone buying? I'm sure this is standard economics well beyond the scope of crypto, but I don't understand it.

I also read this a lot. Of course none of this is guaranteed, but for a long term holder, is there any reason to continue purchasing on the way up, when its almost certain (so I've read) to dip back to below 60 and perhaps further within the next year or so? Rather than holding the dollars elsewhere until buying a large lump during the next plummet.

Buy and hold. There's your edge and it's a huge one.

Not holding = you are the fish at the table.

Some prominent people think it's going to run up to 400-500k then 'crash' back to 100k. If that scenario plays out you'll regret not buying in now. We may never see these prices again.

Seems like an extremely inefficient use of funds.

Eg. Put up $100k BTC, borrow $25k USD and earn 1% ($250.) Effectively, you're earning 0.25% interest on your BTC (paid in USD.)

It makes you wonder why companies run thousands of commercials, year-on-year, for their various products. Someone should tell GEICO that at this point diagram of people having access to internet/tv and having heard of their product is already a circle.

Bitcoin is nowhere near its potential. Just compare its market cap with various metrics (Gold, retirement funds, etc.). It's not even close to mass adoption. And no one in Crypto is predicting BTC will be below its current price in a year or two. Don't overthink things, don't try to time anything, if you want to invest then just buy and hold.

it you keep waiting to buy a computer because there is a nest faster cheaper version, you will never own one... Mix in 5-10% of your networth on BTC if you are scared and extremely conservative.

This is such a stupid analogy I don’t even know where to begin with. No, it does not make me wonder why a business in highly competitive industry has to spend money on marketing to attract new customers. My response was to “we are still early” parroting when 99% of developed world already knows about Bitcoin. Stop saying we are early.

Bitcoin investors collectively lose 900 btc x market price every single day to miners. There is no chance, by design, they will ever see any of that money back.
That is only miners, not including all the other fees associated with Bitcoin, i.e. buying it on cashapp on spread.
But let’s assume somehow buying in a negative sum game gives me an edge, where do you suggest I buy? Name one single crypto exchange with no history of royally ***** their customers? Coinbase?

https://www.google.com/amp/s/cointel...s-volatile/amp

https://www.bloomberg.com/news/artic...at-wasn-t-true

“Our pokemon money is backed 1:1 USD, not like Tether!” Yeah right

This is just scratching the surface, and this is the most reputable and regulated exchange. Cascade liquidations, Bart Simpson charts, wash trading and straight up refusing withdrawals, is that what I’m missing out?

Dozens of dog coins, Safemoons, cumrockets - where do I sign up?

NFTs GTO strategy is minting some nonsense, selling it to yourself for $100k then selling it to a sucker for $30k who thinks he’s buying at a discount. This is a publicly discussed strategy. You’re literally scamming each other in a hot potato game.

DeFi with 1000% APY

Etheruum with $400 fees

The irony in “crypto is so amazing, just do your own research” always cracks me up. So when you guys DYOR you never come across all the stuff I listed above or just ignore it because numbers go up?

Once you purchase digital assets on an exchange you just immediately move it to a hardware wallet so they can’t royally **** you.

You can also buy in twoplustwo trading threads to avoid fees.

Come back RedOak. All is forgiven.

Yeah about that
https://www.coindesk.com/tech/2021/0...en-for-months/

And what do I do after I buy 1 btc for $60k, it goes up to $5mm. Meet someone in the alley to sell it?

https://www.google.com/amp/s/www.nyt...aints.amp.html

Also forgot when your money just disappears and they say you got hacked. SFYL

Please there’s no way you’d hold it to $5million. Sorry bitcoin hasn’t clicked for you.

At least your 25/50 game should keep going since Bitcoin isn’t going anywhere.

Best of luck

It’s actually been 25/50/100/200 thanks to bitcoin. Dude last night legit shipped 30k pre with QQQ8 saying I got so much bitcoin I Dgaf.

Thanks! Good luck to you too, hope it hits $500k soon.