Is anyone else starting to become a bit excited?

Bob24

While not technically DeFi, I think overall Crypto.com is the best of terms of rates. Especially if you stake some of their own token (MCO) and go for 3 months deposits.

The question is: are they really making the money to pay those rates or are they subsided to attract users? (I have seen the CEO of Celsius Network accusing them of having unsustainable rates a few times)

And on slightly different note, stablecoin lending could also become an attractive use case and a bridge to crypto. Many crypto-lending services seem to be able to offer circa 8% yield to people depositing stablecoins, which could attract people who don’t trust/know bitcoin or ether, but might be paying attention when told they can get 8% return on a financial asset backed by a fiat currency they know and trust (and then they might look into real cryptos).

maninasia

Bob24 wrote: »

While not technically DeFi, I think overall Crypto.com is the best of terms of rates. Especially if you stake some of their own token (MCO) and go for 3 months deposits.

The question is: are they really making the money to pay those rates or are they subsided to attract users? (I have seen the CEO of Celsius Network accusing them of having unsustainable rates a few times)

And on slightly different note, stablecoin lending could also become an attractive use case and a bridge to crypto. Many crypto-lending services seem to be able to offer circa 8% yield to people depositing stablecoins, which could attract people who don’t trust/know bitcoin or ether, but might be paying attention when told they can get 8% return on a financial asset backed by a fiat currency they know and trust (and then they might look into real cryptos).

I think there's a lot of demand for dai right now because many are using it crypto speculation in a rising market . You can get your loan in dai , use it to purchase BTC and ETH or whatever and you hope your assets rise against it. There's no end date for the loans


You can see the rates here for borrowing. They would not be high without the demand.

https://loanscan.io/borrow

I assume this is why the interest rate is high.There is plenty of speculation so folks like myself are willing to pay depositors a nice interest rate for their stable coin 'caah'. I already invested enough real cash in crypto now I will just take part of my crypto holdings as backing for leverage . Something like ten per cent of total portfolio is fine with me.

Of course there could be lots of other reasons too.
Some of us live in places that's it hard to get loans , temporary loans backed by crypto collateral can be handy.

Bob24

maninasia wrote: »

I assume this is why the interest rate is high.There is plenty of speculation so folks like myself are willing to pay depositors a nice interest rate for their stable coin 'caah'. I already invested enough real cash in crypto now I will just take part of my crypto holdings as backing for leverage . Something like ten per cent of total portfolio is fine with me.

Yes I think this makes sense currently.

However while margin trading is already standard practise and widely available on many exchanges (which are using crypto lending platforms as a source for liquidity), I might be wrong but I think the proportion of users who are aware of and/or are using crypto lending platforms for deposits is still very small. Once everyone with funds on an exchange or with a custodian realises they can get some yield for it without taking much more risk (combined to some people possibly moving part of their holdings out of cold storage to get some yield in exchange for the risk), there could be a massive increase in supply without demand increasing as fast.

Again, this is just me thinking and I could be underestimating the potential for increased demand - but as it stands I don’t see it being as strong as supply.

stockshares

This is considered the main resource for Defi info.
https://defipulse.com/

Check the Defi List on top of the websites home page which lists all the main options for Defi currently.

If you need to compare Interest Rates click on Earn Income.

Compound is probably the best option for Decentralised Finance using Crypto as Collateral.

An option for Centralised Finance using Crypto as Collatersl is Nexo.

It might be a good idea to start a new thread about Defi only. It's the one area that should thrive if Crypto becomes mainstream.

maninasia

stockshares wrote: »

This is considered the main resource for Defi info.
https://defipulse.com/

Check the Defi List on top of the websites home page which lists all the main options for Defi currently.

If you need to compare Interest Rates click on Earn Income.

Compound is probably the best option for Decentralised Finance using Crypto as Collateral.

An option for Centralised Finance using Crypto as Collatersl is Nexo.

It might be a good idea to start a new thread about Defi only. It's the one area that should thrive if Crypto becomes mainstream.

They don't have some decentralised dapps listed such as Aave. Good list and info overall though , I have used that site.

Grumpypants

No crash today. Green all over.

stockshares

maninasia wrote: »

They don't have some decentralised dapps listed such as Aave. Good list and info overall though , I have used that site.

Hadn't heard of Aave. Looked at their site and it seems very similar to Compound.

Many of the Defi sites need people to connect to their site using Metamask. Does anyone know if there are risks with Metamask?

q85dw7osi4lebg

There’s life left in her yet

Grumpypants

Consistent progress. Nothing that would trigger the media frenzy which is good. I'd much prefer a slow and steady approach. .......but i wouldn't say no to another 2000% jump in three months :

Bob24

Grumpypants wrote: »

Consistent progress. Nothing that would trigger the media frenzy which is good. I'd much prefer a slow and steady approach. .......but i wouldn't say no to another 2000% jump in three months :

Agree, although I would add that with BTC up 30% in the past 30 days, *if* that pace is sustained for another while IMO it will trigger that media frenzy. Maybe a bit of consolidation would be a good thing at this stage ...

maninasia

stockshares wrote: »

Hadn't heard of Aave. Looked at their site and it seems very similar to Compound.

Many of the Defi sites need people to connect to their site using Metamask. Does anyone know if there are risks with Metamask?

Aave have a great team, original brand was Ethlend, LEND token, followed them for two years.
It's a good point about metamask, I think it's run by Consensys who are one of the top Ethereum developers, overall pretty trustworthy I would say.

stockshares

maninasia wrote: »

Aave have a great team, original brand was Ethlend, LEND token, followed them for two years.
It's a good point about metamask, I think it's run by Consensys who are one of the top Ethereum developers, overall pretty trustworthy I would say.

I've downloaded Brave Browser on my phone but I can't see an option to add the Metamask extension.

Is it suitable for the phone browser?.

If not is there a trustworthy alternative to Metamask for the phone browser?

Grumpypants

Tickling €9k now. Went from tipping around 8m to 9k pretty quickly.

Bob24

Grumpypants wrote: »

Tickling €9k now. Went from tipping around 8m to 9k pretty quickly.

Also getting close to the psychological limit of 10000 USD ... if it is crossed we’ll see a few articles in the media.

maninasia

stockshares wrote: »

I've downloaded Brave Browser on my phone but I can't see an option to add the Metamask extension.

Is it suitable for the phone browser?.

If not is there a trustworthy alternative to Metamask for the phone browser?

I tend to use chrome on the computer. I've not used metamask on phone browsers.

Dohnjoe

Anyone with an alt portfolio should be up around 50% over the last 30 days

makeorbrake

stockshares wrote: »

I've downloaded Brave Browser on my phone but I can't see an option to add the Metamask extension.

Is it suitable for the phone browser?.

If not is there a trustworthy alternative to Metamask for the phone browser?

Extensions by and large don't run on mobile (for the moment). There are a couple of workarounds but officially, they're not supported. Run it on desktop.

Lex Luthor

Bob24 wrote: »

Also getting close to the psychological limit of 10000 USD ... if it is crossed we’ll see a few articles in the media.

definitely

Ichimoku has just flipped GREEN....!!!!!!!!

Lex Luthor

too much bullish sentiment and greed out there at the moment, this might op out at $10,1k and then drop off
Its BITCOIN!!!

stockshares

SEC Commissioner proposes 3yr safe harbor for Crypto Start ups before they must adhere to regulations.

https://www.coindesk.com/sec-commissioner-hester-peirce-proposes-3-year-safe-harbor-period-for-crypto-token-sales?amp=1&__twitter_impression=true

JJJJNR

Massive news for decentralised projects like the kin + stellar foundations if it's accepted.

Frozen Veg

Chain link 14%

banie01

Now lads, if the moon comes this week!
Ye have me to thank for it

I've sold out of everything, back to fiat but on the exchange ready to go.

I'm expecting a 10-12% drop back over the next week but knowing my luck...
Here we go to 20k :P

Grumpypants

I for one, appreciate you falling on your sword for us 😊

banie01

Grumpypants wrote: »

I for one, appreciate you falling on your sword for us 😊

Well if someone wants to do an OTC with me at 7k a coin I'll jump on it :P

JJJJNR

KIN up 52.5% on the back of the SEC announcement. :cool:

JJJJNR

Up 80% now major buy, have sold a few bags and re bought on the dip, huge potential on the upside.

makeorbrake

banie01 wrote: »

Well if someone wants to do an OTC with me at 7k a coin I'll jump on it :P

I prefer UTC trades

banie01

makeorbrake wrote: »

I prefer UTC trades

I'm sitting on my cash pile and the fecking numbers are just consolidating rather than dropping!

I can't remember if I'm to blame, Tether, Chinese New Year, Whale manipulation or I suppose we can add Corona virus to the mix this year :pac:

Dammit!

FFVII

9000 yoyos

Lex Luthor

LTC starting to rise again, is it starting to front run Another pump from bitcoin?

makeorbrake

banie01 wrote: »

I can't remember if I'm to blame, Tether, Chinese New Year, Whale manipulation or I suppose we can add Corona virus to the mix this year :pac:

Definitely Coronavirus

Lex Luthor

Ethereum is looking good right now

rapul

Chainlink better

SteelyDanJalapeno

JohnnyFlash wrote: »

I’m going to make a price prediction. Bitcoin is going to dump hard this week. Massive amount of open longs on Bitmex, Binance, and even a few on Bitfinex (!). Time for Arthur and the lads to clear them out.

How's this going

Thargor

FFVII wrote: »

9000 yoyos

Nobody cares about the Euro price, you might as well give it to us in Rubles. Its the various dollar levels that influence the action.

cnocbui

Thargor wrote: »

Nobody cares about the Euro price, you might as well give it to us in Rubles. Its the various dollar levels that influence the action.

Speak for yourself. I use Euros to buy and sell, not USD.

FFVII

Thargor wrote: »

Nobody cares about the Euro price, you might as well give it to us in Rubles. Its the various dollar levels that influence the action.

It's not.

Dohnjoe

JohnnyFlash wrote: »

I’m going to make a price prediction. Bitcoin is going to dump hard this week. Massive amount of open longs on Bitmex, Binance, and even a few on Bitfinex (!). Time for Arthur and the lads to clear them out.

Lucky you didn't short it. Come to think of it, you've been predicting that BTC would die in 2018, then 2019, will it finally die this year?

maninasia

banie01 wrote: »

I'm sitting on my cash pile and the fecking numbers are just consolidating rather than dropping!

I can't remember if I'm to blame, Tether, Chinese New Year, Whale manipulation or I suppose we can add Corona virus to the mix this year :pac:

Dammit!

I never sit in cash and it's been good times. Swings and roundabouts . I'm holding till parabolic and even then just sell a portion.😀

q85dw7osi4lebg

$9970



8 months of bargain accumulation coming to an end

maninasia

rapul wrote: »

Chainlink better

Having both is good . But Ethereum is the most solid pick of all coins probably. Risk profile magnitude less than Chainlink. With Ethereum you are getting on the success of blockchain. With chain link you are betting on their success of being an Oracle coin. I own LINK and I don't understand why you need a coin for an Oracle on the first place . But hey...Good times. First mover advantage and a big fan base go a long way.

q85dw7osi4lebg

I don't know how people have the time or energy to trade sh1tcoins like ethereum

makeorbrake

Addison Fancy Macrame wrote: »

$9970



8 months of bargain accumulation coming to an end

$10,020 as I post this :cool:

Bob24

Thargor wrote: »

Nobody cares about the Euro price, you might as well give it to us in Rubles. Its the various dollar levels that influence the action.

USD prices marginally influence the action when they reach psychological thresholds (10000).

But overall this isn’t what’s driving the action.

I don’t see a problem with people measuring the value of bitcoin in any currency they like - and the euro seems appropriate on an Irish forum (I am sure they use rubbles on Russian ones).

grindle

Addison Fancy Macrame wrote: »

I don't know how people have the time or energy to trade sh1tcoins like ethereum

:rolleyes:

Don't trade it.

q85dw7osi4lebg

What a few weeks. Happy to go sideways from here for a while for some final small accumulation before the halving.

banie01

banie01 wrote: »

Now lads, if the moon comes this week!
Ye have me to thank for it

Ye are welcome Lads!

Not quite a moon, but I'm taking credit for all this BTC and ETH consolidation.

Dammit :pac:

Lex Luthor

Addison Fancy Macrame wrote: »

I don't know how people have the time or energy to trade sh1tcoins like ethereum

not something I've ever considered

q85dw7osi4lebg

That was some overnight wick down to $9735!

Exchanges raiding stops I'd say. Nasty!


One of the reasons why I don't trade and only HODL.