Quote:
Originally Posted by DarkMemoria
I had a similar Cautionary Tale experience trying to purchase some AAVEGOTCHIs on launch using GHST. Basically got hit by a bunch of fees (gas) transferring out from Binance onto ETH main, then migrating/bridging to Matic network.
Going from just having some coins on Binance I was able to get my Metamask setup and sort of figure out how to get onto the MATIC network
It looked a bit like this:
- Withdraw GHST from Binance to ETH main (10 GHST fee)
- realize I need ETH on mainnet to bridge my GHST over
- send ETH from Binance to ETH Mainnet (pay Gas fee)
- Bridge GHST to Matic Network (pas Gay fee)
- realize I need more ETH to stake my AAVEGOTCHI if I get a portal so bridge from ETH Main to Matic network (pay Gas fee)
Also didn't end up being able to buy any AAVEGOTCHI portals despite being there at launch, just stuck approving while watching the initial 10k portals drop in count. Even though the Matic network runs on super low fees, it got clogged up with a huge abundance of transactions & I didn't realize I would have to increase my fees to confirm the transaction.
Of course I didn't do things in an optimal way by any means but by the time it launched I honestly would have just preferred just being in a queue and trying to pay with credit card like with a concert or sports event ticket sale. Now I'm stuck with some GHST and ETH on Matic, and I'll pay some fees to Bridge back and send back to an exchange / withdraw if I wanted to do that.
Yeah aavegotchi is tough to get into. It looks like Matic L2 and BSC (binance smart chain) will probably be the winners for this cycle in terms of usage. Metamask has a barrier to entry and is an odd thing to get used to, let alone swapping into matic given the gas fees. As Matic itself grows it will probably be on more exchanges and eth fees can be bypassed completely.
The launch was wild and I'm sorry you didn't get a portal. I suppose this is really just luck of the draw when it comes to being involved in launches - the project looks promising however so it might be worth it to hang onto the GHST, either staking or buying something in the marketplace (at a premium compared to launch, granted), which is very active and works well.
Quote:
Originally Posted by coordi
The guy just wanted to buy an album and you have 2 paragraphs full of words no one has heard to explain why he paid over 2x what he was expecting
Not a new argument at all, but its pretty hard to see the layman ever adopting crypto in its current state. And we aren't in the infancy here, we are a decade in.
It feels like internet boom all over again. The layers coming now are kinda like AOL back in the day, and will have mass adoption as they get streamlined. I don't agree that it's necessary to learn/understand the tech (gonna get flamed for this) as long as you have some "street smarts" and can reasonably vibe when something's sketchy, which is not the easiest thing in such a new industry. If not, sure do more due diligence. Truth is, the only "code" most internet users know now is how to format a URL in their browser, and even this is used less and less. I expect crypto to move the same way (even addresses will get replaced with .eth or .crypto ones (unstoppabledomains.com, etc)).
Quote:
Originally Posted by rickroll
i think this is why topshots is succeeding, they accept credit card payments and it's simple for us apes to figure out
Niftygateway does the same - you can deposit with ETH or card. I think this is really the way to go for now, especially with NFT's which have attracted non-crypto-coin buyers.
To the point of us still being early in NFT's, in a larger sense I do get it. I was around apeing into NFT's in like early 2017 because the concept made perfect sense to me, as well as fractional ownership, but just too early at the time. For now, IMHO it's good to be pretty cautious with things like buying tweets or picking up whatever shows up in a daily drop, as some of these markets are pretty streamlined. I feel like the logic is "art goes up eventually, I'll just squat" is pretty alluring and driving much of the action from the dumb money.
However, there's certainly going to be more upside in parts of the space in coming months, and plenty of people will make parabolic gains. Just be careful, and honest about what you don't know.
https://cointelegraph.com/news/opens...rbitrary-value