The Cryptocurrency Thread

Inori said:
Yah im still researching how staking works before I consider if i'm gonna do it or not
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Staking is pretty much everyone buying up all of the product before it hits the streets to raise the value AND earn passive income. If you not staking, you fucking up BIG TIME.

Not staking is like owning 1000 shares of Apple and telling them you don’t want ANY stock splits or dividends. One click, set it and forget it. I stake ALL my shit. I will soon go from a staker to a validator for ADA, tho.

It’s a very technical task. I just don’t see the point of me earning 5% on all of my Cardano holdings, when I can clear 6 figures and let the protocol pay out 5% to all of my delegates. I’ll be verifying transactions and clearing blocks. I will be “Exodus”.

 
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M4nh4tt4n said:
Staking is pretty much everyone buying up all of the product before it hits the streets to raise the value AND earn passive income. If you not staking, you fucking up BIG TIME.

Not staking is like owning 1000 shares of Apple and telling them you don’t want ANY stock splits or dividends. One click, set it and forget it. I stake ALL my shit. I will soon go from a staker to a validator for ADA, tho.

It’s a very technical task. I just don’t see the point of me earning 5% on all of my Cardano holdings, when I can clear 6 figures and let the protocol pay out 5% to all of my delegates. I’ll be verifying transactions and clearing blocks. I will be “Exodus”.

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If you stake ADA and start off with "x" amount....then you deposit more ADA into that wallet address say a month or two down the line.. will the interest be applied to the initial staking amount or the total amount of ADA in that wallet? I think I read something about compounding interest
 
Throw everything you can at it whenever you can. The protocol takes care of the compounding. Gonna take a while to get rich, but ADA at 5% is still 500x more than a bank’s 0.01%. Or 50x more than the select few offering 0.1%.
 
M4nh4tt4n said:
Throw everything you can at it whenever you can. The protocol takes care of the compounding. Gonna take a while to get rich, but ADA at 5% is still 500x more than a bank’s 0.01%. Or 50x more than the select few offering 0.1%.
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I was looking at Solana(SOL) which is staking at like 10.5% on Exodus as the next move. Gonna do more research tho before i pull the trigger
 
ETH looking good today.

Im not in on it but i'll be interested to see what DOGE does later this evening with Elon crazy ass
 
Inori said:
ETH looking good today.

Im not in on it but i'll be interested to see what DOGE does later this evening with Elon crazy ass
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I got eth just because I’m trying to get enough to buy a ZED horse (crypto horse racing, crazy but very interesting imo) also I’m not expecting anything significant tonight with doge because usually not much happens on days that have been hyped up for doge. Usually things happen days leading upto and days after. Excited for the memes tonight tho
 
Breezy_Kilroy said:
It's so much shit to learn.

Where do I start? Is there a crypto 101 I can look into to learn the basics?

Anybody I reach out to is just like "you have to do you research" duh nigga research what
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Not tryna be funny or anything, but download or go to any of the recommended exchange sites. Sign up put a lil money, you’ll start finding research because you’ll be invested. Tons of Free game of getting started on YouTube that will break down the terminology and some basics. There’s a group on clubhouse app run by black people that host daily/weekly conversations just for beginners. In the crypto market it’s all risky nothing is for certain.
 
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Lmao
 
Yea I bought in like .59 cents cuz my fomo was acting up. Luckily didn't drop real money bc I was using Robinhood while waiting for one of the crypto apps to verify me.
 
is it good or bad to have a coin have a high burn rate?

and how does it help with inflation? or is it because its burned it makes the available coins lower and thus drives up the price?
 
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