/lit/ - Literature

proof of larp

I don't want to be left bagholding

Crypto sucks. I had a good reading routine and all, next thing I know a friend put me onto crypto and now I'm checking charts and browsing that shithole called /biz/ every evening instead of reading. Yes, I made $400 out of $100, but at what cost, honestly. I've decided to pour all my winnings into one stable shitcoin and leave it for a month or so, and I suggest you do the same, for sanity's sake.

>>17810944
accelerate

>>17810949
I guess I'm not made for that high-octane life. If I ever woke up with that number on my account, I'd either slam it into an index fund immediately or buy a nice cabin with some land around it somewhere.

>>17810944
Exact same here. I've turned $250 into $15,000 and back to $11,000 in the past three months, but at the cost of constantly thinking about it. I can now loose sums of money I could only ever dream of loosing, and I feel nothing. But I have my money in safe bets now (ETH leveraged longs obviously), so I can return to reading with only occasional chart checking

Crypto oldfag here.

I just trade BTC contracts on BitMex with leverage, and I check on my charts every several days. Made 6 figures, never trading shitcoins.

But not /lit/ and off-topic threads are not allowed.

>>17810944
Exactly the same. I stopped reading because of it. honestly, I'm thinking of just taking all my money out. It's such a base thing to spend your time obsessing over.

>>17810969
What leverage do you typically use and what indicators, if I may ask? I've had some suspicions about 200 MA being a good indicator for daily trades, but haven't been able to properly test it yet

Money is fake and gay

>>17810944
I just put all my money in Link and look every few months

>>17811158
3-5x leverage, no indicators, spot/derivative volume, high time frame, resistance/support lines, occasionally candlestick patterns. Mostly experience and having looked at the BTC chart for many years.

>>17811161
That's why we should make our own

>>17811240
Thanks anon, wish you the best in your path to 7 figure heaven

>>17811331
>>17810934
>psued coin: enabling collaborative literature creation on the block chain
>mint NFT sentences and receive royalties when they're used in an NFT book
>mine pseud coin by typing the answers to mathematically based word comprehension problems and translating the works of dead white men
>dispute a books place in the classics with PseudCourt arbitration

>>17811377
based

>>17810937
kek

>>17810944
>>17810993
>>17811226
Id recommend buying a stable coin like usdc or dai and putting it on aave to collect interest. Peace of mind, and very slow and boring but easy gains.
>>17811377
I actually have an idea for a blockchain related to books. I think nfts can help with swapping books digitally as the main barrier at the moment is copyright. If someone owns an nft, then a publisher cant stop someone from sharing or lending a book.

>>17810934
Someone always gets rewarded for solving some sort of terry a davis god generated haiku first based on some sort of consensus, there's no supply cap or anything and it just keeps going printing free money

>>17810959
>ETH leveraged longs
I can smell the faint aroma of fear

>>17810949
How?

>>17811488
>Id recommend buying a stable coin like usdc or dai and putting it on aave to collect interest. Peace of mind, and very slow and boring but easy gains.
In the long run all crypto scams will go to zero one way or another, if your money isn't insured by the government you shouldn't ever have peace of mind

>I think nfts can help with swapping books digitally as the main barrier at the moment is copyright. If someone owns an nft, then a publisher cant stop someone from sharing or lending a book.
NFT is totally paralegal and doesn't really have anything to do with the content in itself but a non legal idea of monetizing authenticity... also It doesn't matter how you encode copyrighted material and transmit it because if you do that you're going to run into real legal issues

>>17810949
>not even 2x since november
yikes

>>17811488
Yeah but if I was going to put it in a stable coin I might as well just put it in stonks

>>17811668
you can easily make 50% APY with stables during bullrun, wont see those returns in stocks. Although you could make even more holding any semi-decent shitcoin

>>17811331

>>17811543
>insured by the government
>peace of mind

>>17810934
Literally just make Mogul but for the publishing industry
DYOR, there is insane potential but none of you faggots have the connections/capital necessary to make it real

>>17810949
>missing the chance in february
ngmi

>>17811746
If your money is in a bank in America you'll get it back if it's ever stolen/bank disappears. If your money is a digital meme key you can lose it/forget it/have it stolen and never get the funds back because that's not possible by design

>>17811543
the only thing government insures it that it will steal a part of your money trough inflation each year. Imagine being in cash in 2021 lol

>>17811873
Yes price volatility is much more predictable and that's a good thing and why crypto failed as money, all prices are still in $'s today and will continue to be

>>17811856
Coinbase, Kraken, and Gemini are all FDIC insured banks in the US. If you hold fiat in your account, you’re covered up to $250k the same as Chase or Citi.
Jesus, I thought this board was supposed to be smart.

>>17811566
>>17811843
>implying he keeps everything in one wallet

>>17811908
>If you hold fiat

>>17811918
>bro he just removed it slowly little by little every day
sure

>>17811891
>he still thinks crypto is planning to replace fiat
>he doesnt know all currently relevant projects arent actually trying to be digital money
>he will miss out not only on 1, but 2 golden bullruns and likely future ones as well

>>17811964
Many people actually do seriously think crypto is "competing" with fiat currencies and can/will replace them. I know things have branched into much more general sketchy territory claiming to be or do many different things besides just being a replacement for cash but the monetary aspect is still at the root of it all.

>>17810944
>had a good reading routine and all, next thing I know a
I haven't read a single book since bitcoin started pumping end of 2020. Sitting here checking /biz/ and charts every day. I'll get back to reading when the bullrun is over. This time for sure.

>>17810934
I dunno I just threw a few hundred into LINK and LCX and have 10,000$ + now, which is pretty cool.

Honestly I am just treating it like gambling (never put in more than I am willing to lose) since I already have a wagecuck job, and just am going to HODL and see if it blows up in 5-10 years.

>>17811543
>into real legal issues
What are they gonna do? Sue millions of metamask wallets with no ID or ssn attached to it?

>>17811331
What features would you add that aren't already existent on some other coins? Or do you just want to make a shit food/animal meme coin to con people out of their money?

>>17812039
>dude you can't just like attach an ID to an IP, that's like impossible

>>17812060
>You cant just change your IP.
Hows internet piracy going? Its all ended now then right? Lawyers shut down peer to peer file sharing? No they havent.

>>17812069
I don't know how young you are

https://en.wikipedia.org/wiki/Trade_group_efforts_against_file_sharing#Litigation

>>17812085
Yeah and its still all going on. People bypass paywalls all the time and illegally download songs/videos for free. Just because a lawyer sued doesnt mean it can enforce anything on crypto networks.

So what's /lit/s moonshot crypto? Shills are welcome.

>literally went all in on $tgm

>>17812085
And furthermore, even if they were able to pursue legal action. The copyrighted material cant be taken down. Its there forever and only entrenched with every new Eth block.

>all you had to do to never work again is hold bitcoin for a decade
Fucking hell lads it's not fair

>>17812102
Anything in bull time, you have to be dumb to not make money on practically a thing that isn't the absolute worst shitcoin. You just don't be greedy and sell before the inevitable rugpull

>>17812102
>RBC
>FTM
>BOND
>MATIC
>REEF
Bond and Reef are like under 5 cents each. Bond at 1 billion mcap, which is a consistent measurement for decent new projects, would put it at $2.6.

>>17812093
Most zoomers have no idea how to pirate and pay for everything... that's radically different to how things were 20 years ago. If piracy was viewed as a threat they can go extra hard on using legal methods.

>>17812103
Ownership can be criminalized, the question is just if the copyright holders want to be dicks and go after you because copyright law is very absurd and won't change anytime soon because it's what makes up most of corporate Americas revenue

>>17812010
probably redditors who will buy my bags on top. Closest to using crypto as fiat in everday life might be ability to use some stablecoins like USDC or xDAI on some sidechain, which is more like complementing fiat
>>17812131
post hands kumar
>>17812104
unironically still early, even to btc

>>17812102
Monero - atomic swaps this fall
&
Suterusu - can mask your transactions on binance smart chain

>>17812149
>Ownership can be criminalized
Its on the Eth blockchain. So essentially every Eth user is a criminal owner. They literally cant enforce it on a global network with pseudo anonymous IDs.

>>17810944
Based

Where to start for a complete beginner on this stuff?

>>17812187
Follow VC from Silicon Valley. Crypto is full of insiders and bag holders

>>17812187
/biz/ - Business & Finance

>>17811919
What, you think your securities are insured on your Schwab/Ameritrade account?
Are you literally holding fiat in savings at near-zero interest rates? Are you retarded?

>>17812187
>coinbase
>set up account
>buy stuff
>or, buy eth
>download metamask on browser
>send eth to metamask, guides online how to send crypto
>buy shitcoins on uniswap

crypto is a really interesting phenomenon, mostly every coin or token is purely based on hype and have no real connection to anything of value. i remember when i started to get into it in january 2018 just as the last bitcoin bubble was bursting, and i remember a token called omisego. the head guy at omisego was posing for a photo where he held up a skateboard with the omisego logo on it, and there was also one of those apple logo stickers that you get when you buy a macbook or whatever pasted onto the skateboard. this sticker created a rumor that apple was going to announce some sort of partnership with omisego, and that they were trying to hint at this by holding up the skateboard, and as a result omisego tokens got more expensive.
more recent examples is elon musks dogecoin tweets. when this bull run ends so will the more stupid things, so you have to appreciate it while they last, like nfts of tweets.
i'm not an academic and i can't really put it into the right words, so i'm just gonna meme it and say that crypto really says a lot about our society.
i will say though that some of the stuff is really interesting and i think has value, like how people in developing countries who don't have access to banks or suffer from inflation can use their phones and buy and sell stuff using stablecoins and protect their money better. also these defi protocols where they can earn yield and stuff is pretty cool and i hope it stays around.
my view is that crypto is more or less a joke, but i still have about $200k in it (mainly because i bought chainlink early). also buy chainlink, it's one of the very few tokens that has a future.

>>17810959
>I've turned $250 into $15,000 and back to $11,000 in the past three months
How? I'm not reading anyway so I might at least make money.

>tfw had 100,000 link and sold early
At least 560k is ok

>>17812351
>it's one of the very few tokens that has a future
what are the others

>>17812465
Definitively not OMG
but arguably most of the DeFi blue-chip ecosystem
>ETH
>LINK
>AAVE
>SNX
>GRT (maybe)
>BAL
>COMP
you will get your shit wrecked if you decide to start by playing anything sub-$250M mcap, those are for anons that know what rug smells like

all of you should know that we're in a bull market right now and that's why it seems so easy for people to make money, but this will end at some point. crypto has these cycles related to bitcoin mining rewards getting cut in half every few years, and if btc behaves like it has in the past it will go to at least 100k
https://www.lookintobitcoin.com/charts/stock-to-flow-model/

>>17810949
based department?

>>17812510
S2F is not the sort of thing you entice /lit/ with, sort of like how actual politics belong on /his/ and not /pol/

>>17812172
Yes, whatever form the data is stored on doesn't matter from a legal perspective. If you store a pirated mp3 in a SQL database or a cassette tape it's still legally theft.
And of course American/European/etc law can't be totally enforced globally but a blockchain only operating in North Korea is kinda worse off.

>>17812213
You're talking about totally different types of risk. Owning stock is taking on some real risk for some gain. Having money in a bank is the only way you can be totally nominally secure since the government will cover that. It's not retarded to not have everything tied up in high risk assets.

>>17812510
There's no rational price for bitcoin, it has an infinite amount of alternatives that can work the same and is unlikely designed to get more expensive and inefficient at what it's supposed to be designed to do. How long demand can stay inflated is pure psychology

>>17812541
>S2F is not the sort of thing you entice /lit/ with
worse than voodoo economics

>>17812551
>There's no rational price for bitcoin
agreed, but it still has a trend of going up related to halvenings, and no real sign of this trend stopping anytime soon.

>>17812603
You can dig into static noise and find trends. You can have self-fulfilling prophecies up to a point.
The only thing is price stability isn't possible with bitcoin, if its price ever started to stabilize it'd quickly become worthless soon after.

>>17812551
>Having money in a bank is the only way you can be totally nominally secure since the government will cover that.
Did you even witness the entirety of the past year or have you been in a coma the whole time?
Markets only go up, by law. The printer has turned brokerage accounts into the new savings account. Retards are losing their livelihoods because they can’t read the tea leaves and think it’s all about the (((bankers))), which it is, but not in the way they perceive it.

>>17812673
>Markets only go up, by law.
Go look at the financial hot takes during the late Clinton years and tech boom.

> The printer has turned brokerage accounts into the new savings account
That's not the reason you want secured access to some nominal sum of cash. You don't just want cash for gains but to be able to pay for things, having to cash something out when everyone else is with a floating price makes sure you might get into a real pickle

>>17812153
>suterusu
This actually looks half decent past the broken english FAQ (which is slightly less of an issue since the team clearly aren't pajeets, chinese it seems), thanks anon
>>17812407
Flipping low market cap shitcoins. First was Unilock for a near 10x, and from there I got into a literal ponzi scheme shitcoin as soon as it dropped and sold it for 15k after 20 minutes. It's really just a mix of luck and knowing what isn't a pajeet rug as >>17812496 points out

>>17812351
>no real connection to anything of value.
100% false. It has a value connection via a network that is decentralized, immutable, and accessible at any time by anyone. The network is immune to capital controls or capital seizures by governments. The value is what you can do with coins, which is eventually, anything.
>>17812551
>Yes, whatever form the data is stored on doesn't matter from a legal perspective.
There is CP links on a text file on Bitcoin and feds havent shut down anything about Bitcoin. They wont do anything when NFTs start popping out with revenge porn or copyrighted material. There were already copyrighted material coins. Like pokeball. Nintendo did nothing.