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Friday, May 28, 2021
Quick video guide on how to convert BTC to THETA on Swapzone!
Exchange your Bitcoins to THETA Coin easily and save your money by choosing the best exchange rate on Swapzone, an instant crypto exchange aggregator.
https://www.youtube.com/watch?v=DX5Ij61oI7s
Visit https://swapzone.io/ to get the best exchange rates 🚀
Agenda meet Kevin for Stephen (I hope we can focus on green / speed / cost effective)
I wanted to bring up the importance of this event, I think with the wide audience Stephen can reach he should address topics that are relevant.
Topics I would like to see covered:
- Green blockchain
The one token and all assets migrated to the harmony chain will benefit of the POS energy efficiency. The impact on energy consumption should be explained and compared to BTC, ETH and other relevant competitors like cardano. Today contracts on Etherium can already be made green by moving them to the harmony chain! Harmony will soon will have the same for Bitcoin with the BTC bridge. This has serious value and is now the reason why bitcoin is being challenged by people like Elon Musk. Making Bitcoin green as a statement could attract even more interest in the project. Stephen really needs to embrace this current market sentiment and maximize it so the project can benefit of it.
- Transaction speed
This should be explained with real data and numbers (not just say we are faster) and compared against eth, BTC and others like cardano because Harmony outperforms them all. This enables harmony to show the value of transaction speed (without compromising security). Explain how harmony does it and why harmony does it better than ETH, BTC and others like cardano in 101 level explanation so everyone can understand it.
- Transaction cost
Explain how harmony is able to keep the transaction cost low and compare with real live examples towards BTC, ETH and others like cardano (harmony has the lowest transaction fees). It needless to say that comparing us will enlighten people to migrate their assets to harmony and/or invest in the project.
To conclude I personally think that comparing and showing why the project exist will make a serious difference and will give the project the attention it deserves. Harmony has talked alot about technology but now the time has come to really sell the value and compare us to other projects that simply dont have the tech Harmony has. Harmony brings unseen power efficiency with lightning speed and low cost for transactions without compromising security. I hope the right people read this post and bring it to the attention of Stephen so he can prepare and makes the most of it.
More and more are becoming a believer. Like it or not, this is the future.
Tom Brady touts cryptocurrency investments, says he's a 'big believer'
Tampa Bay Buccaneers superstar Tom Brady revealed Thursday that he is a "big believer" in the long-term prospects of cryptocurrencies.
The seven-time Super Bowl champion told a panel that he has "definitely" made investments in crypto over the last year amid a surge in value for Bitcoin and other tokens. Brady admitted that he is "not an expert" on the marketplace but has tried to learn more about it.
"It’s funny, in our quarterback room, one of my coaches has been on it for eight, nine months, so we talk about it basically every day," Brady said during a keynote event at CoinDesk’s Consensus 2021 forum. "The prices of the different tokens, how the space is doing. It’s definitely something that’s on all of our minds."
The price of a single bitcoin has increased nearly 300% to $37,867 over the last 12 months as digital currencies gained more mainstream acceptance. The overall bitcoin marketplace alone is has a market capitalization of $708 billion.
The surge in value prompted a spike in interest among NFL players and other athletes. Last year, NFL veteran Russell Okung received half of his $13 million salary in bitcoin through a partnership with cryptocurrency startup Zap. Prior to his release, former Kansas City Chiefs tight end Sean Culkin said he planned to convert his entire salary into bitcoin.
NFL teams aren’t yet permitted to pay out contracts in bitcoin, but Brady argued crypto could catch on as an investment vehicle for athletes.
"At the end of the day, technically that can’t happen. What they pay is in dollars," Brady said. "But I mean, how you invest your money? Absolutely. So I definitely think there’ll be more solutions as this is more widely adopted in all areas of our lives."
Brady entered the crypto investment space earlier this year with the launch of Autograph, a platform for blockchain-based non-fungible tokens, or NFTs. The digital assets have been likened to virtual trading cards.
"When I was a kid, I was a big baseball card collector," Brady said. "Understanding that the kids now in the digital age are going to want so many things at their disposal on their devices, it’s a great opportunity to be involved in that for unique collectibles."
Cryptocurrencies plunged considerably from recent highs amid concerns about the environmental impact of "mining" and regulatory action in China.
Brady said he doesn’t see the volatility as a major concern.
"I don’t think it’s going anywhere," Brady said. "Absolutely, there’s going to be volatility, but at the same time, knowing that when there’s a lot of change and there’s disruption in markets, there’s a lot of people that are going to fight those systems."
Article source : https://www.foxbusiness.com/sports/tom-brady-cryptocurrency-investments-big-believer
History doesn't repeat itself but it often rhymes
Exactly 372 days after the last halving in 2017. The market went into a huge black swan event that crashed bitcoin 42%. Everyone panic sold and were calling BTC and the whole bull market dead.
What happened next is history....
Crypto often takes two steps forward and one step back.
HODL, diamond hands over here
Pre emptive post about drop in price - IT'S THE HEDGES, STOOPID
It's currently about 7am
Today Bitcoin and crypto are DOWN. Hedge funds are pulling out liquidity to deal with a number of things such as margin call requirements, but mainly to fight AMC and GME.
They'll risk it for the biscuit today and drop the price 20%+
How that relates to SHIB is that the price is going to dip. It's not because people are selling. It's entirely related to this event.
Examining Crypto Savings Accounts
TLDR: While called a savings account, crypto savings accounts are an investment vehicle with none of the protections associated with a traditional savings account. Do not put your emergency fund or other money you cannot afford to lose in one.
Cryptocurrency has already shown the potential for unimaginable returns over the past few years, but the rise of crypto savings accounts offers the opportunity to earn up to 10% interest on the crypto you already have; And even for those that aren’t invested in crypto, some accounts allow you to deposit dollars and get paid interest in dollars without ever having to buy and sell crypto yourself. But how do crypto savings accounts work, what are the risks, and should you put your money in them?
First let’s talk about what a crypto savings account is not. The name is a bit of misnomer because it isn’t actually a savings account and shouldn’t be treated like one. They lack the regulatory protection associated with regular banks, specifically none of them are FDIC insured. Aside from the lack of FDIC protection, what are some of the other negatives associated with a Crypto Savings account?
- Unlike traditional savings accounts, you will have to pay a fee every time you withdraw funds from you account along with a cap on the maximum amount of fund you can withdraw in a given period. While the caps are high enough that it would not affect most people, if you are placing a majority of your portfolio in crypto and need to use it for a large purchase, this could present a problem for you.
- With the more popular coins, you interest rate will actually decrease with the more coins you have. The dollar equivalent where this threshold starts is typically around the six-figure mark which won’t affect many newer investors. But for those who are invested heavily in the crypto space this can be a substantial negative
- For most of the crypto savings accounts, your interest will be paid back to you in the same coin that you deposited. So there if the coin you are invested in sees a significant loss in value, this could wipe out all of the interest you have earned
- Another potential issue with crypto savings is that it requires you to transfer your private keys over to the business so they can lend out your currency. While many of the new crypto banks tout the high security, they use to protect your keys, you are still giving up control of your currency to someone else.
- Many of the crypto banks advertise the amount of insurance they have to protect your money, but if you go into the fine print you’ll see that the insurance only covers your money in the event of commercial theft or embezzlement. While top companies advertise the extensive fail-safes they have instituted to protect your funds through maintaining a baseline of crypto so you can withdraw at any given time along with the collateral they require to guarantee their loans, they have not yet experienced any massive string of defaults. Ideally, their systems would be able to handle such a situation, but it is still untested.
Now for the positives that crypto savings offer, and they are definitely appealing:
- The returns offered easily beat out anything offered by traditional banks, and you would expect them based on the increased risk you take on.
- For the majority of platforms, the interest offered will be the highest on stable coins, with relatively lower interest on the largest cryptos like Bitcoin and Ethereum. If you like to have a sizeable reserve of stable coins so you can buy into other cryptos when their value drops, this could be a great way to earn interest on your reserves in the meantime.
- Some crypto savings accounts allow you to deposit US dollars without ever having to deal with buying and selling cryptos yourself. This is a great way for investors who want to diversify and reap some of the higher yields from crypto without having to buy and sell different cryptos on their own
- Now is probably the highest interest rates we will see from crypto savings accounts. As crypto becomes more generally accepted and less volatile, interest rates on crypto will go down.
So when does putting your money in a crypto savings account make sense?
- As with anything related to crypto, because of the inherit volatility, you shouldn’t invest your entire portfolio or any money that you cannot afford to lose.
- If you are new to crypto and want to dip your toe in the water without buying crypto yourself, the companies that allow you to only deal in US dollars are a great way to start reaping the higher yields immediately.
- If you are a buy and hold investor of crypto, then putting your coins into a savings account is another way to maximize the overall return, but this still involves taking on another level of risk on top of the existing risk by being invested in crypto.
Here is a video I produced which goes into a little more detail on some of the points listed above
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