Social 📈 Crypto

[Warriorsfan92]

Isn’t it supposed to be a store of wealth?

fundamentally it’s a bet against inflation. If you look at its introduction, it’s extremely hard to fight against this narrative..

 

[wizard of Tauranga]

fundamentally it’s a bet against inflation. If you look at its introduction, it’s extremely hard to fight against this narrative..

- First it was a currency - but nobody used it.
- Then it was a store of wealth like gold but it keeps dropping when the stock market does.
- Now it’s a hedge against inflation that crashed from 2022 to 2024 with high worldwide inflation?

 

[Warriorsfan92]

- First it was a currency - but nobody used it.
- Then it was a store of wealth like gold but it keeps dropping when the stock market does.
- Now it’s a hedge against inflation that crashed from 2022 to 2024 with high worldwide inflation?

I guess so bro yeah, it’s certainly complex. It feels like a tech ipo that’s in a bubble, much like the .com bubble. Fundamentally it was created as a hedge against inflation, with limited supply & therefore supply/demand. It’s morphed over time, but I still think its main feature is hedge against inflation thus a storage of wealth. You can argue it has no use, however you can buy items with bitcoin, and it’s getting more and more widespread. My local pharmacy takes bitcoin payments. Again, it’s one of those high risk high reward plays, that you have 1-5% portfolio exposure so you don’t miss the ride but also it doesn’t destroy you if it goes down. Classic methods of DCA. It’s now past The point of it’s going to zero, that’s not happening. It’s got some big crashes in it still too. With such widespread adoption, even countries buying it up in bulk, I can’t see the 80% crashes. And ultimately, it’s a bit of fun. If you’re not enjoying it, you’re too heavily invested - emotion should’ve be involved in your financial investments. Not saying you personally, but in general.

 

[Dannevegas]

Anything other than BTC and ETH are risky asf

Pre much.
I’ve been putting 100$ a week into Bitcoin for a year now. If you really want to make bank tho got to take the risks, I’ve always stayed away from meme coins. because they are risky af but I got in early on ski mask dog at 2cents.

 

[Inruin]

Early Investor Turns $1M to $104M as Donald Trump Officially Launches Memecoin

Donald Trump’s newly launched TRUMP meme coin instantly gains traction, massively rewarding traders who bought the Solana-based token early.

thecryptobasic.com

 

[Bay39er]

I thought there was a crypto thread but couldn’t find it - sorry if this is a duplicate.

I’m a crypto virgin hence my question.

I’m trying to stitch together a deal where my client is insisting on paying me in crypto to a platform/wallet of his choosing.

This immediately raises red flags but I’m not at the stage of kicking it to touch yet as the deal is not insignificant with the proposed payment being 500,000 TRC20.

Questions
Is there any wallet which if suggested would be a deal breaker?
How easy is it to convert TRC20 to USD?
What would a realistic fee for a conversion be?
Do you pay the fee in USD or TRC20?

Any other advice would be appreciated

 

[Noitall]

I thought there was a crypto thread but couldn’t find it - sorry if this is a duplicate.

I’m a crypto virgin hence my question.

I’m trying to stitch together a deal where my client is insisting on paying me in crypto to a platform/wallet of his choosing.

This immediately raises red flags but I’m not at the stage of kicking it to touch yet as the deal is not insignificant with the proposed payment being 500,000 TRC20.

Questions
Is there any wallet which if suggested would be a deal breaker?
How easy is it to convert TRC20 to USD?
What would a realistic fee for a conversion be?
Do you pay the fee in USD or TRC20?

Any other advice would be appreciated

Not meme coins is it?

 

[Bay39er]

Not meme coins is it?

Sorry but don’t know what meme coins are.

 

[Noitall]

Sorry but don’t know what meme coins are.

Just a latest trump grift, sorry got no knowledge of crypto though

 

[tajhay]

Questions
Is there any wallet which if suggested would be a deal breaker?
How easy is it to convert TRC20 to USD?
What would a realistic fee for a conversion be?
Do you pay the fee in USD or TRC20?

which TOKEN on TRC20? TRC20 is just the protocol for smart contracts on Tron network? What does your agreement actually say? It wont say 500k TRC20 tokens for sure. Is it USDT?

1. Work the other way. Which wallet have they suggested?
2. Easy.
3. Pretty much 1:1 USD if USDT/stable coin.
4. The fee is so minute it doesnt even matter

Please DO NOT GIVE THE SEED PHRASE of whichever wallet you create to ANYONE.

 

[Bay39er]

which TOKEN on TRC20? TRC20 is just the protocol for smart contracts on Tron network? What does your agreement actually say? It wont say 500k TRC20 tokens for sure. Is it USDT?

1. Work the other way. Which wallet have they suggested?
2. Easy.
3. Pretty much 1:1 USD if USDT/stable coin.
4. The fee is so minute it doesnt even matter

Please DO NOT GIVE THE SEED PHRASE of whichever wallet you create to ANYONE.

The suggested wallet is virexstack

Yes USDT

 

[tajhay]

The suggested wallet is virexstack

And you have done basic google checks on that wallet? A quick search would have shown you :

Virexstack is rated "Poor" with 2.7 / 5 on Trustpilot

Do you agree with Virexstack's TrustScore? Voice your opinion today and hear what 6 customers have already said.

au.trustpilot.com

Forget about the amount, conversion rates, conversion process. Focus on wallet/security.

Abort if they cant pay you in USDT in your binance account. Im sure you already know the answer to this by now.

 

[Inruin]

@tajhay what wallet would you recommend? I have just been using my binance account as I only put in a few hundred dollars but the amount it has risen to is now just over $7k so probably worth considering security of it.

 

[marv.]

i always thought i was young till i didn’t understand crypto. all the people that pedal it are super douchey creeps too which doesn’t help.

i also always thought nothing beats hard work but there seems to be plenty of people at the very least pretending to be killing it.

are they?
can you actually just draw your shit out like now?
how long till it’s cash in you hand?
how long till that particular coin just disappears into the ether along with all your money?



i remember when you could have a song on your myspace page.
AND your favourite eight friends!
life used to be so simple.

 

[tajhay]

@tajhay what wallet would you recommend? I have just been using my binance account as I only put in a few hundred dollars but the amount it has risen to is now just over $7k so probably worth considering security of it.

Does binance allow nzers to stake? If you are more into holding i would recommend you stake and earn a lil bit (think of it as interest without any risk). They dont allow aus anymore.

Binance itself is safe. Its the other platforms which i dont trust esp the new ones that pop out of nowhere. You could also go towards a hard wallet ie ledger...but so many stories of ppl losing that etc.

If 7k just stick to binance.

 

[Inruin]

i always thought i was young till i didn’t understand crypto. all the people that pedal it are super douchey creeps too which doesn’t help.

i also always thought nothing beats hard work but there seems to be plenty of people at the very least pretending to be killing it.

are they?
can you actually just draw your shit out like now?
how long till it’s cash in you hand?
how long till that particular coin just disappears into the ether along with all your money?



i remember when you could have a song on your myspace page.
AND your favourite eight friends!
life used to be so simple.

Yeah man, I don't understand it. I think I've gotten lucky with the crypto I started with. I really don't feel any confidence to put any real money in to it. I'm using the initial few hundred dollars that have gone up over the last few years to where they are now. I wish I had a better idea and could back it because it does look like there could be life changing money to be made

 

[Inruin]

Does binance allow nzers to stake? If you are more into holding i would recommend you stake and earn a lil bit (think of it as interest without any risk). They dont allow aus anymore.

Binance itself is safe. Its the other platforms which i dont trust esp the new ones that pop out of nowhere. You could also go towards a hard wallet ie ledger...but so many stories of ppl losing that etc.

If 7k just stick to binance.

No, you can't stake which is a bummer. Im really not interested in trying to guess the swings of ups and downs as everytime I think I should trade I end up glad I didn't as it would have been the wrong decision.

 

[tajhay]

I wish I had a better idea and could back it because it does look like there could be life changing money to be made

I remember posting bout it in 2017. Dont check what prices main coins were back then to now. I remember when btc jumped from $90 to around $450 in a short space of time. I was researching it back then but didnt get in then. Dont have regrets.

 

[WA Warrior]

i always thought i was young till i didn’t understand crypto. all the people that pedal it are super douchey creeps too which doesn’t help.

i also always thought nothing beats hard work but there seems to be plenty of people at the very least pretending to be killing it.

are they?
can you actually just draw your shit out like now?
how long till it’s cash in you hand?
how long till that particular coin just disappears into the ether along with all your money?



i remember when you could have a song on your myspace page.
AND your favourite eight friends!
life used to be so simple.

I think it was 2017, about half a dozen people I worked with in the mines made a few million dollars on Crypto.
On Tron TRX I think it was so it’s definitely doable.
One of the guys quit and got greedy and tried to make it a business instead of buying property etc he was back at our work 2 years later.
He made about 2 million and blew it all.

 

[Inruin]

I remember posting bout it in 2017. Dont check what prices main coins were back then to now. I remember when btc jumped from $90 to around $450 in a short space of time. I was researching it back then but didnt get in then. Dont have regrets.

From memory you put up maybe 6 to 8 options a few years ago you were looking at and I picked 4 of them. Put $50 in to each.