roughlyright

It seems like they get income from other tokens (both 5% yearly “maintenance”) and 0.5% withdrawal fees. This sounds like a frocking expensive checking account for users to me. Thank you for the explanation. So it seems more like participating in arbitrage than In a crypto checking account via this token. Then the question really is why do those opportunities exist and how likely they exist in the future, because if you put a PE ratio as a valuation mark, you do assume that there will be cash flows in the future. Actually that was the old model. There is vote that is going to turn this into a 2 and 20 fund. It is a community-run hedge fund. It is trustless. So their fees will grow dramatically from where they are.

That is an interesting take. what other tokens do you like now? YFI is planning to release their V2 contracts in short time. I am thinking that is a massive game changer

I have no association with them in any form. I just found that write up to be convincing.

I was buying https://www.coingecko.com/en/coins/yearn-finance when its price was $900 on July 18th. Today I have added lot more. It went as high as $42,000. But today I added lot more. One of the best value investments, as it has a price-to-earnings ratio of 3. If anyone wants to read the full analysis, it is posted here: https://www.mechanism.capital/yfi-frameworks-for-fundamental-valuation/ I can see YFI token price beat the price of Berkshire Hathaway A shares.

I was buying https://www.coingecko.com/en/coins/yearn-finance when its price was $900 on July 18th. Today I have added lot more. It went as high as $42,000. But today I added lot more. One of the best value investments, as it has a price-to-earnings ratio of 3.

Also positive today while GLD and 10-year treasury are down. Could it simply be that Bitcoin is simply in an uptrend and not have anything to do with Coronavirus or Iranian tensions? On this note, Bitcoin obviously didn't behave much like the other safe Haven's through 2018 either. I think it's a mistake to think of it as akin to holding gold or treasuries. With those you expect NEGATIVE correlation with equities in a downturn. Rather, I'd expect Bitcoin's correlation with equities AND safe haven assets to be fairly close to zero in both healthy and unhealthy economic environments. BTC and the rest are up for 3 reasons. First it is a safe haven asset now like Treasuries going up during uncertainty. Just look at the track record. Second, it is now possible that coronavirus will end globalization and migration will end even internal migration. Who will use bills if the virus survives on surfaces for 9 days. Who will go into public? Yes the sun will save us this year as it cuts virus survival dramatically. But will we have summer flu considering the outbreaks in tropical places? (Although many Chinese people avoid the sun). EU is already incredibly weak and now this? Sovereign default, bank failures and bail-ins cannot be ruled out. It does not matter if the coronavirus is a real scare. Jon Rappaport makes an interesting argument that it is another false narrative. Who knows? All I see is a madness of crowds. Animal spirits could drive crypto incredibly in this environment. Third, crypto is being accelerated by leverage and the opportunity to earn up to 10% interest yet borrow as low as 3.5%. Consider Tezos, ETH and now Litecoin. On Litecoin you can earn 10% interest. See Cred and Litecoin foundation. You can borrow with crypto security at less than 5% now. See Celsius Network. On Celsius 80% of interest paid back to lenders. Super efficient compared to banks where they pay 1% and charge you 25%. Banks cannot compete with their legacy overhead and debt loads. EU sovereign debt is double doomed now for this reason along with China's economy and migration now being frozen due to the coronavirus. Think how much EU depends on tourism. And what use is the belt and road initiative if you can hardly use it? Bail-ins will impoverish anyone who fails to get into crypto. US will boom due to capital concentration and sanity. This capital concentration in US and Canada is a glorious opportunity to borrow on real estate at low rates then invest in crypto. US and Canadian banks will do fine. So you can borrow Canadian dollars at 3% and buy Tezos, then stake and earn 6% with almost no risk as all you do is stake, for instance, on the Kraken exchange. What happens when Tezos is used to tokenize real estate and you get the liquidity of selling tokens? Mortgage risk and borrowing risk drop significantly as you could sell portions of your property in tokens. If this occurs Tezos tokens will escalate in value with demand as supply is limited and real estate becomes a liquid easily trade-able asset. Come on. Have you ever seen such an asymmetric opportunity? The implication is obvious why would you hold fiat? Dump fiat buy certain crypto, lend at up to 10% buy more. Repeat. Obviously Litecoin price will escalate as more abandon fiat and join in. With BTC you can earn almost 9% on Celsius and then use the interest tokens to pay for a loan which costs 3.5% interest (they keep the risk low by requiring security of double or four times the crypto as security with more security giving a lower rate). Say you buy Litecoin then earn 10%. Litecoin of course will go up dramatically. Finally watch ETH and DEFI. $1B loaned already. To borrow you post ETH as security. So the supply of trade-able ETH is now dropping every day and at an accelerating rate and they plan to reduce the inflation rate to zero. Consider how a whale attack will trigger the automatic sales under the smart contracts which will cause further ETH sales. So ETH price will be on an upward channel with lots of buying opportunities. This bubble is going to be way bigger than the 2017 bubble due to leverage and because it will be double propelled because of the weakening fiat. Fiat will weaken if the collapsing supply chains due to coronavirus caused cost-push inflation. What do you expect central banks to do when they are faced with banks whose interest rate derivatives too often are betting on continued low interest rates? How long before banks have to admit "mark to model" was always a phoney premise? CBs only have one tool. They will print to buy sovereign debt until Hayek's instability hypothesis comes true. Why else are all CBs now working feverishly on crypto? Perhaps when the banks collapse and the governments default they will issue sovereign crypto to restore stability. They have to allow the existing crypto system in the meantime because otherwise the collapse would be too harsh. The discrimination favouring CB crypto to take over the existing crypto infrastructure will take time so in the meantime we have an exceptional opportunity because of this black swan. Just don't forget to move your crypto profits into tangible assets before the "Empire Fights Back". Very thoughtful and cogent post! fiat world has no clue what kind of developments are happening in the crypto world. They seemed to assume that whatever happened in the last 50 years, will just continue for the next 50. Permissionless innovation can grow at an exponential pace, not a linear rate. People can build a decentralized bank, with code, while sitting anywhere in the world. how are these banks going to compete with their cost structures?

If you bought #Bitcoin 1 day ago: Up 14% 1 week ago: Up 41% 1 month ago: Up 61% 3 months ago: Up 222% 6 months ago: Up 240% 1 year ago: Up 108% 2 years ago: Up 400% 3 years ago: Up 1840% 4 years ago: Up 5300% 5 years ago: Up 2470% 6 years ago: Up 12800%

Is there a reason you are purposely ignoring the bitcoin = gold thesis? Yes, there is. I don’t like gold. I don't either. I do like gold at a 95% discount though. To be fair, the fact that I don’t like gold isn’t negating the thesis that crypto = gold. I am sure for some people it is and that may be good enough. I don’t know where the 95% discount is coming from - the market cap of gold vs crypto? No. Crypto != gold. Bitcoin = gold. There is a big difference. People keep wanting to confabulate "crypto" with "bitcoin" and vice versa. Even the name of this thread itself was changed from "BTC - Bitcoin" to "Cryptocurrencies". In that fundamental misunderstanding is where some will profit and others will be left behind. It's like changing every discussion about Amazon.com to "online shopping" and saying it's all the same. Exactly! you made a great point. I see this happening all the time.

I posted an idea in the investment board. I don't see it today. What happened?

They did not offer investments to any US investors. It explicitly forbade them from investing. Bitfinex did a lot of KYC to screen them out

Very good call! In pre-sale, I heard the minimum investment they accepted was $1 million. How did you manage to get in? I agree with all the risks you mentioned. But the reward is worth the risk and Bitfinex is registered in Hong Kong and not subject to US laws. What other tokens do you like?

Hello All, In this commentary, I sent to partners I talked about $LEO token. In the interest of full disclosure, I am long. I am trying to understand where I am going wrong in my thinking and get the feedback from the group here. In my view, this is a good value investment. Roughly right LEO_token_valuation.pdf

It is already 20% of my portfolio. What other tokens do you like? I don't like other tokens as their use case isn't so clearly necessary to me. If i had to choose a currency I'd say Ethereum. Off-chain computation with chainlink is absolutely the one. What about bitcoin? you don't hold any bitcoin ? I am sure you know that bitcoin halving is supposed to happen in May of 2020. That will make bitcoin harder than gold. First time in the course of human history that we have a synthetic commodity that is harder than gold.

It is already 20% of my portfolio. What other tokens do you like?

I already own lot of LINK. Very high quality project. What other tokens do you like?