Cryptocurrencies - Your Key to Financial Freedom AMA

I've been tracking the crypto space since Bitcoin was invented and bought my first Bitcoin in 2013 and has been using every cent of my savings to buy cryptocurrencies ever since.

I can now comfortably retire. Which other investment allows you to do that in less than 10 years.

Ask me anything about the cryptocurrency space, there's no such thing as a "silly" question. I think this goes without being said, but I'm going to say it anyway. None of what I say here is financial advice, I do not hold an AFS license, you should seek advice from a licensed professional before making any investment decisions. If you are making investment decisions from some random guy on the internet without doing your own research and due diligence, you should stop immediately!

There's all these controversy about property prices "surging" or becoming unaffordable, not for me, if you invest in the right asset, property is actually getting cheaper and cheaper. Property prices in Bitcoin terms has been decreasing and will continue to as Bitcoin increases in price at a faster pace. So to me, property is progressively getting cheaper and cheaper.


For those who would like to find out more about cryptocurrencies and why I think Bitcoin is here to stay and will be more valuable in the future, head over to and watch some of the videos. This site was set up by the CEO of MicroStrategy, Michael Saylor who's company bought an aggregate of approximately 90,531 bitcoins, which were acquired at an aggregate purchase price of approximately $USD2.171 billion and an average purchase price of approximately $USD23,985 per bitcoin, inclusive of fees and expenses as of 24th Feb 2021.

To those who think that I "got lucky" and was "fortunate", that's very far from the truth. I saw this coming, I knew that with rampant money printing by central banks, fiat currency is going to zero and it has been doing so for centuries. All fiat currencies have gone to the zero, in history, there has not been any fiat currency that didn't go to zero. So Bitcoin's rise is inevitable to me, hence I bought it. I didn't go as far as that family who sold everything to buy Bitcoin, but I did use nearly all of my savings to buy cryptos.

Common criticisms of Bitcoin

  • Its just like Tulip mania
    Bitcoin is nothing like Tulips, Bitcoin is a decentalised and censorship resistant network which enables values to be transferred across the internet at very low cost. The value of Bitcoin is the strength of its network and the fact that it has never been breach or hacked, which means unless someone steals your private key, your coins are safe.
    Tulips has none of these qualities. The only thing which Bitcoin and Tulips have in common is the fact they both went up in value very quickly. Even then there are differences, Tulips went up and crashed all within 3 years. Bitcoin has gone through at least 3 cycles where it has smashed its previous all time highs and never dipped below the starting point of the cycle.
    Bitcoin has recorded a higher year on year low every single year since its existence except for 2015.

  • The Bitcoin network uses too much energy
    This is just market supply and demand. People mine Bitcoin because it is profitable to do so. The Bitcoin network do not require so many miners, in fact it started with just one miner. The network can continue with just one miner, it adjusts as more miners enter and leave, this is built into the network. The high energy used by Bitcoin is a sign that it is valuable and people are willing to make the effort in participating in the effort in securing the network and be rewarded for it.
    Due to the profit motive, the energy sources used by Bitcoin miner are increasingly from green energy sources reducing its impact on the environment.

  • It is used for criminal activity
    Fiat currencies are used on a much much larger scale by criminals. Banks launder money for criminal, there's been so many scandals, and those are just the ones which make it to the media, I'm sure a lot goes undetected.
    Bitcoin is actually very bad for criminal activity, this is why they quickly moved onto privacy coins like Monero and Zcash. The Bitcoin blockchain is public and all transactions remain there forever. If a drug deal is done with cash, unless there's a recording device there at the time of the transaction, that drug transaction is untraceable. If you do a drug transaction with Bitcoin, that transaction will always be on the blockchain, all it takes is for law enforcement to tie one address to a real person, and the entire web unravels, so its not very smart using Bitcoin for criminal activity.

My Crypto mistakes and other pitfalls

I want to go over some of the ways I lost money in crypto over the years so maybe you can learn from my mistake

  • Scam websites
    In 2014, there was a website called Bitcoin savings bank, which promises 9%pa interest if I transferred my Bitcoin there. Very similar to what, Blockfi etc offer today, except they are scammers. Unfortunately, I didn't do my research and I believed them. I transferred 2BTC to their "savings account". Never saw it again.
    Nowadays, these sites are very obvious, they promise hourly returns, like 10% every 2 hours. This is impossible to consistently do, they are all scams, don't fall for them.

  • Double your coins scam
    This is quite famous, there are many variants, but essential it just entails you sending your coins and double or some very good return percentage will return. Its a scam, you will get nothing. Fortunately, I have never fallen for these.

  • Pump and dump groups
    These are almost always scams, there are more losers than winners. Yes you may win one time, take it and walk away, but most likely you will lose. I lost more than 1BTC in this. I'm still part of the groups to monitor, but I never participate anymore. Neither should you. They also have these VIP or "inner circle" groups, where they promise you early notification of the coin to pump for a fee. Don't fall for this. They might also have an inner inner circle group or VIP+, where they promise to take your Bitcoin and buy the coins for you, to maximize your returns. These are definitely scams, they will take your Bitcoin and then block you on telegram.

  • Fake wallet apps
    These apps emulate popular wallet apps and asks you for your seed phrases and private keys so they can steal your crypto. Treat your seed phrases and private keys as private. NO ONE should know, not even staff members of the hardware wallet company. Its like your online banking password, no bank employee should ask for that. If any app do, delete it IMMEDIATELY.

  • Leveraged trading
    I lost around 1 BTC (worth around $5-6k USD at the time). I tried to pick the bottom during the 2018 bear market, the Bitcoin price was quite stable and stagnant around the $5500-$6000k mark, so around Nov 2018, I thought that was the bottom and went in with a leverage long. The market went off a cliff dropping down to $3500. I got liquidated, lost the 1 BTC I deposited. I never touched leverage trading again. Its very hard to pick tops and bottoms, so now I just dollar cost average and periodically buy and hold. You don't need to worry about being liquidated if you do this, it will help you sleep better at night haha.

Mod Note: The user is not associated with TechLead YouTube channel.



    • Buy the dip, it was a great opportunity. FTM is now over $3.20 USD again.

      • wish i got lots of funds. am waiting for my other alts to go green so i can reuse the funds but theyre too far., around 50 to 70 pct drop.

  • What do you think of IDEX?

    • Stick with the top 20.

    • +1

      And XRP? The case is taking ages to resolve

    • +1

      Never heard of it

      • And what’s your take on this Shiba meme coin..

        It’s hype confuses me

        • I'm amazed by the hype, the reason is quite understandable. Its similar to the Doge craze earlier in the year, but Tik Tok has banned crypto videos. Its pure hype and a lack of understanding of how cryptocurrencies work.

          Shib is purely powered by the retail investor, institutional investors even Elon aren't touching it. Which makes its rise even more astounding.

          I guess its just the herd mentality, you have a group of people who have no idea about crypto shilling Shib. I've seen these social media posts saying how much you can gain if Shib went to $1, the number is astronomical, but they have no idea about how market cap and circulating supply works. They have no idea that Shib at $1 is practically impossible, you are probably more likely to be hit by lightning than see a Shib at $1, the amount of money required to push it to that level would rival all of the entire value of the crypto market at the moment.

          Shib has a circulating supply of $500 trillion. Since half was sent to Vitalik who sold some and burnt most of it. The entire crypto market (all coins not just Bitcoin) is $2.7 trillion. So Shib at $1 means its market capitalization is more than 185 times the entire value of all crypto right now. This is never going to happen with retail money only.

          • @techlead: Exactly what I’d expect to hear. It’s almost making crypto look like a joke atm.

            I’ll have minimal sympathy for those who get caught when it plummets tbh.

            Cheers again for your amazing insights here.

            • @FredAstair: Thanks for your kind words.

              Of course, the market is proving me wrong right now. Kudos to those who are sitting on a small, big or huge fortune with Shib. Good luck cashing it out though, I don't think there will be much exit liquidity. When one or two of these Shib billionaires try to cash out, its going to crash the market.

              I will stick to my strategy of hodling and DCAing into quality coins.

              Its amazing to see though. Check out this wallet, Bought around $8000USD worth of Shib around 400 days ago, now its worth $4.7 billion USD. Ming boggling!

              • @techlead: Wow.. Although I don't quite understand the exit liquidity when cashing it out its still mind boggling to me too..

                Yes the DCAing sounds very fascinating approach,
                A bit like how that caged hamster that is doing better than many other in trading coins.

                I'm considering that approach when I learn more about how to do it,


              • +1

                @techlead: Saw this and thought about you and your DCA strategy:


      • Hey.. already love your words here, but keen to hear you weigh in on this advice on a reddit post:

  • Smart woman.

    “For the foreseeable future, I’m fine, because I did buy crypto at the right time,” Ms Haugen said in an interview with The New York Times, when asked how she’s supported herself since leaving Facebook.

    Her move to Puerto Rico in March was motivated by a desire to join her “crypto friends” on the island, as well as a health condition, the former Facebook exec added.

    What gives people financial freedom? Not being a slave to a MNC is number 2 on the list.

    • Good on her.

      Relocating is not for everyone though.

  • What are your thoughts on the impact of rising interest rates on crypto?

    • The cash rate won't go up. The feds will keep the cash rate low and keep printing fiat money.

      This is bad for nocoiners and people that keep their savings in fiat money but good for people that own hard assets.

  • +1

    It costs around US$900 to mine an ounce of gold worth $1800 (2x) but $US10K to mine a bitcoin but it is worth US$60K, why is there such as primium on "digital gold" vs. gold gold ? It seems that your best use of a marginal $ is to invest in bit coin mining rather than bitcoins.

    • Want to know why the 21st century belongs to Bitcoin and not gold?

      Undressing Bitcoin: A Revealing Guide to the World's Most Revolutionary Asset

    • Here are two books for people who want to go down the rabbit hole.

      The Fiat Standard: The Debt Slavery Alternative to Human Civilization

      The Bitcoin Standard: The Decentralized Alternative to Central Banking

      • Actually my question was less around the debate which has been done to death gold vs bitcoin. But the why wouldnt the best possible use of marginal $1 be investing in a bit coin mining companies (and keeping coins if you want or selling it and buying ever larger stakes in quality bitcoin miners)? For example if 5% of my "wealth" is held in gold miners why wouldnt I logically transistion this to 5% in bitcoin miners, as the miner is creating the value rather than the bitcoin itself which is the store of value.

    • At some point you simply can't produce enough hashrate to mine more bitcoin/crypto. It doesn't matter how far the price of bitcoin skyrockets, it's really not possible to produce exponentially more processors that can make up for the widening gap on that mining premium.

      I couldn't find a hashrate comparison doing a quick google. The closest comment I found, suggested that a single ASIC designed to run sha256 hashes, is equivalent to 10,000 consumer desktop processors. That gives you some idea of the complexity involved in scaling up bitcoin mining operations, with a ever higher spot bitcoin price.

      I don't know a whole lot about all the gold deposits around the world, and the economic costs involved in mining the more challenging deposits.

  • Does anyone reckon that BNB value will exceed ETH in near future (eg 2 - 5 years)? Just would like to hear opinions from the experts here.

    • +1

      BNB has a place on the ladder and that is not at number 2. Its purpose is to be interoperable with Ethereum and not replace it.

    • I doubt it. ADA has the most potential to flip ETH, but no project on it has caught on yet.

      • Do you have Shib coin? The value has gone up a lot lately and I am wondering if it's too late to the party.

        • +2

          I don't have any Shib and will not have any in the future, no matter now high it goes.

          I invest based on fundamentals, not on hype alone. Shib is just an ERC20 token which does nothing, its just getting hyped up. There is zero chance for it to get to $1, its mathematically impossible, if its $1, its entire market cap is multiples more than the entire market cap of all cryptocurrencies right now. It would struggle to get to $0.01.

          In hindsight, if you just look at the gains, then if I had a time machine to go back a year, I will put all my money on Shib. There's a wallet where this guy bought $8000 worth of Shib around 400 days ago, its now worth over $5 billion. So purely based on numbers alone, Shib has been a great investment and I admit I didn't see it and missed this boat, but I'm not losing any sleep over that.

          I'm not going to touch Shib, I'm just going to watch it on the sidelines with my popcorn. It has been a great show.

          • @techlead: Yeah I read that story as well. It's phenomenal. They now even have a Squid Game coin which has gone up 2000% already.

            • @arctan: I've never tried to catch these hyped up meme coins. Yes the profits are impressive, but for each one which are successful like Shib and Doge, there are hundreds which aren't.

          • @techlead: I was looking over that wallet pondering what happened. Looks like he was buying $1500 worth of ETH off coinbase at a time, and using a dex to swap the token last year.

            The last time the wallet was used was 190 days ago. Makes me wonder if he was using a phone app with built in dex access to obtain the tokens, and then later lost the phone lol. I just can`t see how anyone, from a risk management perspective, would leave "$5 billion" in funds sitting there, if you have access to it. Surely the keys are lost.

  • which overseas exchange is best for aussie based like us? only been using local ones so far.

    • +2


  • Could you please give a background on how you actually started and what led you to your journey to attaining wealth through crypto?
    I've been around when BTC was around 1000$ and was looking at buying then and am kicking myself for not jumping on it then. I don't want to buy into FOMO but at the same time i don't want to miss out on a opportunity that is still viable. Do you diversify your portfolio outside of BTC and ETH ? How did you build up your foundational knowledge on crypto and are there any resources you recommend to someone that wishes to learn about how to navigate the market? i see so much conflicting information out there nowadays its a bit of information overload.

  • Also what's your opinion on Eth NFT/Solana NFT? Are you investing on those as well?

    • I don't understand art, I haven't invested in any NFTs. Don't think I ever will.

      I'm not going to spend millions on a painting, I'm not spending millions on a jpeg.

  • bat or ftm?

    not sure if its worth getting more ftms atm.

    • Don't go chasing green candles.

  • I made $100k on Shib with $10 invested. I kid I kid. I made $10. On a side note, is the current property boom attributed with cashed up Aussies with secret Crypto mulah they are cashing out now? Aussies are known to have the highest number of Crypto buyers based on population.

    • +3

      I doubt it. The current property boom is all fueled by cheap debt and existing investors upping their leverage by taking out equity in their current properties to buy more properties.

      People who invest in crypto don't invest in property, because they know property returns are dismal even with this "boom". I personally who never invest in property, I will buy my own home to live, that's it, that's all the exposure I want to the property market.

  • +2

    Fiat money = Game over!!

    CBA to add crypto to its banking app
    James Eyers
    James EyersSenior Reporter
    Nov 3, 2021 – 5.00am

    Commonwealth Bank will allow its customers to hold and use bitcoin and other cryptocurrencies via its 6.5 million-user banking app in a bid to appeal to young customers and keep pace with rivals such as Square and PayPal, which already allow users to trade and spend bitcoin.

    • +1

      Its funny how 3 years changes everything. I still have the text the CBA sent me to say I can't use my card to buy crypto in 2018 haha.

  • -1

    If you own so many bitcoins and other crypto why dont you just go to a tax haven for a year and cash out this way you would not be classed as a resident for tax reasons

    • +1

      Selling the best-performing asset to go back into fiat money is financial suicide. People don't sell stonks or real estate to buy coffee. They use their income to pay for everyday expenses or take out loans to buy big-ticket goods.

      The same can be done with digital assets. Use a lending platform, lend the assets to earn yield, then borrow fiat money to support the lifestyle.

    • Why would I sell a winning asset that is growing by more than 200% per year for an asset that is losing value every single year?

      If I need cash, I will just borrow against my crypto. US banks are starting to allow this now. Don't sell a winning asset for a dud. Cash is trash, I'm not swapping my Bitcoin for trash.

      • Awesome read so far! How does borrowing against crypto work, is it only against Bitcoin so far?

        • You can now borrow against other coins, like ETH, but I will only borrow against Bitcoin because it is the most stable and keeps its value the best in the long run. Of course, during alt season, alts will gain more.

          • @techlead: What creates an 'alt season'? It's people and it's global. If there are "seasons", then they must be human constructions (ie market manipulation)?

            • @tunzafun001: Alt season is when 75% alt has a higher gain than BTC over the last 90D.

              • @rektrading: Cheers, so that defines it, but what creates it?

                I commonly see statements like
                'alt season is almost over' ..and 'all alts will go to almost zero for a while'.

                What causes that?

                • I just read your earlier comment re BTC reaching ATH, then people taking profits by trading into Alts creating an alts season. I unfortunately started my Crypto alts journey in May this year. So looks like an alt season last about 3 weeks, then basically strips all gains in about the same.

                I guess the question for season players is what stops an alt bear run? I guess it's something like when Bitcoin bounces 'x' % of its yearly low?

  • Did you buy Santa early or do you think you missed the boat? (I think it's not too late)

    • +1

      Definitely not too late. I reckon the entire crypto market will reach $6 trillion from here, which is a 2x overall.

  • Cutting costs to artificially pamp up profits.

    "Gradually, then suddenly." E.H.

  • Hey.. already love your words here, but keen to hear you weigh in on this advice on a reddit post:

    • TLDR?

      • +1

        No probs.
        Yes it was very wordy..

        Here’s the summary:

        The 2021 bullrun exit strategy

        - Deposit stable coin as collateral on a protocol such as anchor, earning interest

        - take stable coin loan against collateral, again earning to borrow (and even if you're no longer getting paid to borrow, the interest earned from lending will most likely outweigh the interest owed from borrowing, meaning on a net level, you're still making money)

        - Provide stable coin liquidity, e.g. USDC <> DAI pair, earning yield and compounding that yield into liquidity

  • Hi OP, can you rate my coin spread: Link, Ada, Eth, Matic, Atom, Rose.

    Thinking of picking up either VET or FTM.

  • ftm is a dud for me anyway, should of heard of lrc earlier.

    • +1

      Have some patience. My historical cost for FTM is below $2.30 USD, so I'm in the green, but I'm very sure FTM will be at least $5 in the coming months.

  • +3

    For those who doubt my story, that's fine, but if you do some research, you will find out that obtaining my current portfolio value over 8 years in crypto is actually quite bad and not that impressive.

    Ran, one of the hosts of Crypto Banter has a portfolio which went from $30k USD to over $36 million USD in 2-3 years. That's much more impressive to what I have done.

    Crypto is the future and has given financial freedom to a lot of people and will continue to do so as adoption increases.

    Once you realize why cash is trash and you unplug yourself from the traditional financial system, that's when you will start getting ahead. The traditional game is rigged against you, you will never win. Its like trying to catch Usain bolt, you can run as fast and as hard as you can, but you will never catch him. Those who play the traditional game, work hard, save diligently and store it in the bank for safe keeping, earning interest, are and will be the biggest losers.

    Have an open mind, do your own research.

    • +1

      To be fair, Ran Neu-Ner was already a multi-millionaire before getting into crypto.

      Diana Kekana, 24 January 2017
      Imagine starting and running a company so successful that you sell it for R1.4 billion rand. Ran Neu-Ner made history last year by selling his company in what has been deemed the largest transaction by a marketing company on African soil. All before his 40th birthday. His advice to could change the way you view entrepreneurship, and your likelihood of succeeding at it.

      • +1

        True, but I'm only using that one portfolio which went from $30k to $36 mil as an example, he has other portfolios too.

        Most people would have $30k to spare, eg if they didn't invest in property but bought crypto instead. I'm pretty sure not many people who invested in property made $36 mil in 2-3 years.

        • the hard part is choosing which coin to put your money in. i scattered mine since march and less than 5 are in green.

          • @Farrba: Tell me about it. I started in May.. and had 1/3rd in Bunny that got hacked, small stop loss calls on another 1/3rd in Solana at $28. My remaining 1/3rd was staked in ADA, Dot, Matic and Cake, so just let it run.

            I was pansted in July and didn't buy back into Sol or others as I felt I didn't know what I was doing after all. Gee, that worked out it is now 10x.

            Maybe experiencing a loss is a good thing, as if I simply started in July I wouldn't understand how quickly it can fall.

            But currently my portfolio is still well down, but still have a tax bill for the staking :(

            But…Might have to get back on the alt horse.

  • What are your thoughts on Bitcoin ATM's?

  • btw how did you go with defi, i lost some already, not a lot, but its a pump n dump.

  • +1

    Life-changing money doesn't come from working for minimum wage.

    "This data implies that crypto investments may have provided life-changing levels of income for some, while the wealthier owners of crypto use it more as another form of asset diversification rather than a source of income," the study said

    People that take risks even if they don't succeed learn from their endeavours.

    'Tis a lesson you should heed:
    Try, try, try again.
    If at first you don't succeed,
    Try, try, try again.'

  • What is the best bank for a Crypto Startup?

    • Don't use a legacy bank.

      Get paid in digital assets.

  • Quick question on crypto transfer between exchanges. Say I want to transfer an amount (1k) from Binance/Luno to Celsius to take advantage of the deposit bonus.
    Would it be cheaper to transfer in USDT instead of BTC or ETH? I know ETH requires gas and it can be expensive sometimes. BTC transfer fee is usually USD 20 so its not cheap either.

  • So what alts are considered / potentially good buys at the moment?

    Or are we already at the top of this alt season?

    Looking at 30 day pricing, the top 20 alts that have run the least are ADA, XLM, XRP, DOT and UNI. Maybe even Luna for good staking returns.

    HEX pops up on some at number 11 for some reason, but I have no idea what HEX even is. I'll put it in the Doge,Shib, SFM camp..pass.

  • Alt season just about to start, or over ?

  • +2

    Perth Heat becomes the first pro Baseball club to accept Bitcoin payments and send Bitcoin payouts to players and staff using the Lightning Network
    Nov. 16, 2021, 05:45 PM

  • +1

    Noob here. I have a serious question, I am constantly hearing about the importance of reading the whitepaper. The issue is I am too stupid to understand what I am reading. I feel like the majority would really not understand all the jargon in those things. Does this mean crypto is not for someone like me? I am not trying to bash crypto by any means, I am totally open to it.

    • +1

      The best and free way to learn is to go to the source.

      Use a TTS to make the text easier to understand.

      People that want a non-technical explanation of the network/eco system can listen/read the following works for a small fee.

      • Excellent, I'll take a look at those. Thanks!

        Another question. Crypto, in its current form relies on fiat as its measure of value. What is the alternative to this? Could we one day see crypto completely divorce itself from fiat? lets use bitcoin as an example, could we see it as the new standard by which all other coins/tokens are measured?

        I'm pretty sure I am asking a really silly question, so do not underestimate how stupid I really am.

        • +1

          Here is another vid by James from InvestAnswers w/ Greg Ross.

          It's a bit heavy on financial terms but worth watching for people that want an engineering/legacy banking PoV.

        • +1

          That's kind of what already happens.

          Most exchanges have market makers which tie a token pair to the price of BTC. If BTC goes up, it carries every other token with it, as rebalancing across exchanges occurs.

          For example, If BTC dips, DOGE/BTC stays the same, and then DOGE/USD drops. If one user purchases dogecoin, the DOGE/USD rate increases, and so does the DOGE/BTC rate.

          This is more rife across ETH, BNB and other chains, where native tokens are essentially only priced against the corresponding chain token - ETH, BNB etc. ETH dips and the paired token dips, regardless of the tokens fundamentals.

  • +1

    I was not a believer of crypto, until recently I discovered that I can convert many currencies to BUSD and then back, which mean I can transfer money overseas without incurring any fee and almost instantly (this is totally not money laundering, just legit transfer money), obviously this still require the approval of the local banking system and binance in order to get your hand on the cold cash, but yea crypto is definitely a game changer and here to stay, it is still a new technology and we are still figuring out how to apply it correctly, similar to e-commerce in the early days and fast forward to today.

    Another thing as well is, there are so much money in crypto right now, it has almost became "too big to fail", with blockchains are here to stay, the whales are just going to continue to run their "pump and dump" scheme, since there are no regulations, in a normal market a spot cannot be pumped without getting circuit break, but not with crypto, it is truly free for all, with companies like binance or FTX "sam", they yield an enormous amount of influence on the market and big power are not going to ignore it, so they will eventually get involved in one way or another, even HFT are looking to get into the space, because there are money to be made.

    Crypto exchanges these day remind me of chinese movies, where in ancient times there are these private banking houses, they provide a "credit note" so their customer doesn't have to carry around an enormous amount of silver, if the customers need silver, just bring the credit note to a local branch and cash it out into silver. There are absolutely no guaranty what so ever that these private banking houses will not implode the next minute, but we can trust them just like we trust the US dollars where they can just print an unlimited amount of cash and call it in whatever fancy technical term they can come up with to disguise the true nature of it "printing cash".

    Crypto has gone beyond bitcoin, some of the new blockchain can provide new products such as staking where coins can be staked to help with mining and thus provide a yield, or participating in a pool to provide liquidity (market making), I think these products are slowly showing how blockchain can be useful … and again I can transfer money across the globe without incurring a fee, that's revolutionary isn't it.

  • +2

    bitcoin vs permissioned blockchain explained in 2 min.

    @butter finger

  • Hi All,

    The information is here has been fantastic. One newb question, how do you find what are the newest/most recently added coins on or coinspot?


  • +2

    Posting this here, as this seems like quite the sophisticated hack

    Looks like the behemoth Celsius also got rugged in the process. Luckily $120million, or their portion of it, is small change for a company of their size.

    Trust no-one, really is sage advice in this space.

  • +1

    @techlead I haven't seen it mentioned in the 13 pages (apologies if so), but the way I see it, the effective interest rate on the amount you borrow with Celsius is not 1%, but rather somewhere around 9-13% (if you're on the top tax rate, more if not), as

    • you're losing the 4-6% earn interest on collateralised BTC of 4 times the loan amount = 16-24% of the borrowed amount,
    • you'd be paying half of that earn interest as income tax which you are no longer, so 16-24% becomes 8-12%,
    • add the 1% interest on the loan and it's 9-13%
Login or Join to leave a comment