Crypto Black Friday Sale 2021

Just a funny coincidence that most of the crypto markets fell up to or around 10% today and my first thought was it’s on sale. I have noticed that Bitcoin is cheaper today than it was last in early October. If this is a buy the dip opportunity, or not, I cannot say but it certainly feels like a Black Friday sale disguised by fears of new contagious pathogens and potential government imposed lockdown fear.

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How I’ve Been Using the Crypto.com App for High(er) Returns

Note that most of the following assumes you have existing crypto assets and/or CRO, plus some free cash to move around.

I have been using the platform for a few weeks and staked some of my existing crypto as well as converted some extra cash to TCAD earning way better interest rates than any bank with theoretically less risk than the stock market (there is risk of the platform going out of business).

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What I Mine(d)

BTC Beginnings

Working in the Information Technology industry has it’s ups and downs, but in 2011 a co-worker told me about Bitcoin and I was able to use our lab computers to start mining. Having prevoiusly been involved with [email protected] and other distributed computing projects, this was right up my alley. This turned into a hobby and I used my magic internet money to buy a new computer and graphics cards to mine on, until…

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How to have diamond hands

Every dollar you spend is spent. If you decide to “invest” in something whether is be crypto, the stock market, or an alternative investment, you must consider that money invested as if you bought an experience (i.e. something that is a sunk cost like a vacation). There is always risk even in the safest investments that it could go to zero. A bank account earning 0.01% interest certainly has less risk than say cryptocurrency, but theres always going to be that chance of an extinction level event.

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PSA: Don’t Chase High APY LP Yields (Cronos Edition)

So far I have not had nearly the advertized APY “rewards” from any of the following Liquidity Pools:

https://app.cronaswap.org/farms

These numbers were even higher yesterday and their token lost 50% of value overnight

https://vvs.finance/farms

This was over 3000% earlier in the day

I think Cronos is too new and people who got in on day zero doubled (or more) their money overnight and as early as I am, I am still a few days late to the party. These first-movers are taking profit already and driving the price of the tokens in the pool down. This exacerbates impermanent loss, so I suppose I will stay all-in and ride it out. However, unless you are first in line, it is much less risky to not chase these high yields.

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