Altcoins, DeFi thread

[xraygoggles]

weren't you in on the coinbase DPO or was that one of the other crypto people?

I made a small investment (relative to my portfolio size) in Coinbase last year on Equity Zen at a valuation much lower than today's closing price, which is the good news.

Bad news is there's a lockup period by EZ, despite the direct listing by the company itself, grrrrr. Guess I will see how much my shares are worth in 6 months...


PS: mods (Peds, Tim et al) - a face-slap emoji is sorely needed...

[Panscan]

I made a small investment (relative to my portfolio size) in Coinbase last year on Equity Zen at a valuation much lower than today's closing price, which is the good news.

Bad news is there's a lockup period by EZ, despite the direct listing by the company itself, grrrrr. Guess I will see how much my shares are worth in 6 months...


PS: mods (Peds, Tim et al) - a face-slap emoji is sorely needed...

Interesting I didn't know about equity zen, so you essentially are buying equity from employees?

[xraygoggles]

Interesting I didn't know about equity zen, so you essentially are buying equity from employees?

Yep - EZ takes a 5% cut of your initial investment as an expense ratio of sorts. However, you are not investing in these late-stage, pre-IPO companies for a 30% gain or something - you are take a good amount of risk, so you expect multi-baggers only. Looking at it that way, it's totally worth the commission for an opportunity to moonshot.

I have been incredibly fortunate with: Airbnb, Chargepoint, Robinhood, Coinbase, Impossible Foods, Gingko Bioworks. All have or will go public soon at ridiculous valuations. Of course the market is bubbly right now, so I likely had impeccable timing, but I'm not complaining either way.

----

Back to alts:

Uniswap is a good long-term play. I have held it since December. It is essentially an automated market maker, an open-source decentralized exchange (DEX) on the blockchain, where you can stake various pairs of coins to provide liquidity and get yield in the process, while keeping the exchange running smoothly. It does as much volume as Coinbase and currently only has a 19 billion market cap. If you believe crypto is here to stay, it will be much more valuable. You can do the math yourself however.

[Jarpee]

Yep - EZ takes a 5% cut of your initial investment as an expense ratio of sorts. However, you are not investing in these late-stage, pre-IPO companies for a 30% gain or something - you are take a good amount of risk, so you expect multi-baggers only. Looking at it that way, it's totally worth the commission for an opportunity to moonshot.

I have been incredibly fortunate with: Airbnb, Chargepoint, Robinhood, Coinbase, Impossible Foods, Gingko Bioworks. All have or will go public soon at ridiculous valuations. Of course the market is bubbly right now, so I likely had impeccable timing, but I'm not complaining either way.

----

Back to alts:

Uniswap is a good long-term play. I have held it since December. It is essentially an automated market maker, an open-source decentralized exchange (DEX) on the blockchain, where you can stake various pairs of coins to provide liquidity and get yield in the process, while keeping the exchange running smoothly. It does as much volume as Coinbase and currently only has a 19 billion market cap. If you believe crypto is here to stay, it will be much more valuable. You can do the math yourself however.

Just signed up for EZ. Good find.

[formerly_cn]

I signed up for EZ last month. I see nothing exciting yet.

[Panscan]

BTC dominance has been tanking. I recently moved to a pseudo-indexing like approach, basically buying equal amounts (by dollar) of each of the top X coins I have access to. It's not market cap weighted though like an index would be. My rationale for this was basically the extreme amount of correlation I have observed in all the higher market cap coins, say anything over 5B. I feel like most days I can pretty much look at the total crypto market cap and then make a very reasonable inference as to the price of one of those specific coins in that subcategory.

[billy]

I predict this will not end well for this guy: https://www.cnbc.com/2021/04/22/redd...elon-musk.html Took all his lifesavings, including using margin to buy dogecoin, became a dogecoin millionaire, then lost some, but still not cashing anything out until it "hits 10 million". Friends telling him to get out, not listening. Grew up poor, will end up poor.

[chocolatebear11]

dogecoin and other memecoins. another lottery type system. Tax on the poor.

[Panscan]

I predict this will not end well for this guy: https://www.cnbc.com/2021/04/22/redd...elon-musk.html Took all his lifesavings, including using margin to buy dogecoin, became a dogecoin millionaire, then lost some, but still not cashing anything out until it "hits 10 million". Friends telling him to get out, not listening. Grew up poor, will end up poor.

Sure and I hate doge personally and tell everyone to stay the heck away but tons of people do this with stocks too, it's essentially same thing

[ebrow81]

Safemoon... to the MOON

[billy]

Sure and I hate doge personally and tell everyone to stay the heck away but tons of people do this with stocks too, it's essentially same thing

I would say the same for any stock with no real value to back up the price- its classic pump and dump as would be with penny stocks, etc. Its why I'm an indexer for life here But same as blackjack or craps, take your winnings off the table and let the rest ride. It's also why its not a good thing to strike it rich with your first gamble, individual stock, alt currency, etc. He could have a great story of I made a million but chances are it will go down with the dumps and he will hold on the whole way down.

[xraygoggles]

I predict this will not end well for this guy: https://www.cnbc.com/2021/04/22/redd...elon-musk.html Took all his lifesavings, including using margin to buy dogecoin, became a dogecoin millionaire, then lost some, but still not cashing anything out until it "hits 10 million". Friends telling him to get out, not listening. Grew up poor, will end up poor.

Yeah, the fact that he said hits 10 million means he has no idea how to evaluate market cap. It will end badly, but hopefully he will take some out once it starts to crater.

[xraygoggles]

I would say the same for any stock with no real value to back up the price- its classic pump and dump as would be with penny stocks, etc. Its why I'm an indexer for life here But same as blackjack or craps, take your winnings off the table and let the rest ride. It's also why its not a good thing to strike it rich with your first gamble, individual stock, alt currency, etc. He could have a great story of I made a million but chances are it will go down with the dumps and he will hold on the whole way down.

Yeah, the fact that he said hits 10 million means he has no idea how to evaluate market cap. It will end badly, but hopefully he will take some out once it starts to crater.

With the way Doge is mooning, this dude may have the last laugh after all...

[CordMcNally]

With the way Doge is mooning, this dude may have the last laugh after all...

It all depends on when/if he sells.

[Zaphod]

Well, he's a third of the way to his goal, we'll see if he sells any lol.