Cryptocurrency Daily Discussion - December 12, 2020 (GMT+0)

Daily Discussion - December 12, 2020 (GMT+0)
Those whales...
Definitely feels like it most of the time
Every single time.
Only crypto traders will understand
Suck it, SEC
Me waiting for mass crypto adoption
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to 'Front Run Wave of Institutional Capital'
Pretty much sums up my crypto thesis
Sweden’s government is considering the option of becoming a completely cashless society by adopting a digital currency, the e-krona
Who can relate?
10 days after I found a monotonous minimum-wage job...
It doesn't feels like 2017
Defi staking stats - Sushiswap and pooling / farming. My returns over four days.
Imagine having the opportunity to buy BTC at 550.
Trend Analysts (Credit to RoxyComics)
Hmmmmm
Couldn’t decide between a Tesla, or more Shitcoins.....
Oh Billy
Hungarian language is so bullish!
Never click on any link
Bank That Called Bitcoin a Ponzi Scheme in 2017 Launches Crypto Exchange
The sad story of an angry old man called Nouriel Roubini and his war against bitcoin - illustrated in one handy graph
Director of Amazon-Owned Top Streaming Platform 'Twitch' Puts 25% Of His Wealth In Bitcoin - Site Gives 10% Discounts To Users Who Pay In Crypto...
Who’s gonna be the next one?

Daily Discussion - December 12, 2020 (GMT+0)

Posted: 11 Dec 2020 04:10 PM PST

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submitted by /u/AutoModerator
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Those whales...

Posted: 11 Dec 2020 04:24 PM PST

submitted by /u/Magelis86
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Definitely feels like it most of the time

Posted: 11 Dec 2020 04:47 PM PST

submitted by /u/Fritz1818
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Every single time.

Posted: 11 Dec 2020 04:12 PM PST

submitted by /u/DestroRe13
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Only crypto traders will understand

Posted: 11 Dec 2020 11:01 PM PST

submitted by /u/HansLanghans
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Suck it, SEC

Posted: 11 Dec 2020 04:55 PM PST

submitted by /u/myhaxdontwork
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Me waiting for mass crypto adoption

Posted: 12 Dec 2020 12:03 AM PST

submitted by /u/RealSecretRecipe
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Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to 'Front Run Wave of Institutional Capital'

Posted: 11 Dec 2020 05:41 AM PST

submitted by /u/cyger
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Pretty much sums up my crypto thesis

Posted: 11 Dec 2020 05:03 PM PST

submitted by /u/mqrasi
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Sweden’s government is considering the option of becoming a completely cashless society by adopting a digital currency, the e-krona

Posted: 11 Dec 2020 07:16 AM PST

submitted by /u/dannydorrito
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Who can relate?

Posted: 11 Dec 2020 11:20 PM PST

submitted by /u/crypto_grandma
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10 days after I found a monotonous minimum-wage job...

Posted: 12 Dec 2020 02:38 AM PST

submitted by /u/Roy1984
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It doesn't feels like 2017

Posted: 11 Dec 2020 04:07 PM PST

submitted by /u/salil19
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Defi staking stats - Sushiswap and pooling / farming. My returns over four days.

Posted: 11 Dec 2020 07:30 PM PST

I don't often see comments on how much yield people are actually getting from Defi, so here is a post with my recent experiences.

For those interesting in defi / liquidity pools and staking, here are some stats of mine, from Sushi swap. I'm going to count four days worth of liquidity pooling as that is the last time I "harvested" my tokens.So I am using two pools:

WBTC / ETH (my main pool)
Sushi / ETH (a smaller pool).

We have three rewards from each:

Pool fees (potentially impacted by impermanent loss)
Sushi swap tokens (granted immediately)
Locked rewards (available in 6 months)

So for the first pool my return is:

0.0153%
0.0578%
0.116%

A total return of 0.1891% or 17.255% if annualized.

So for my second pool my return is:

0.2% (13 times the reward of the other pool!!!)
0.415%
0.83%

A total return of 1.445% or 132% per year!I should add that (2) and (3) fluctuate based on the SUSHI price - BUT you can always harvest and sell when the price is good.I actually plan to harvest Sushi from time to time, and re-invest the Sushi back into the second pool given its rewards are so great.

I should also add that at no point did I have any impermanent loss (or at least, my pool fees are always greater than any such loss)

Naturally, this changes over time, especially given Sushi-Swap changes its menu and adjusts which pools get bonus rewards (currently both these pools are).

There is also a second option - stake your SUSHI into Sushi-X to earn a share of revenue from the platform, currently at around 8% yield.

As pointed out by somebody, (3) above is deferred by 6 months. That is a hell of a long lock-up and who knows what the sushi price will be then. Well even with (1) and (2) alone that still gives me annual returns of about 6% and 45%. Not too shabby.

The final point is that the annualized return would be much much greater if we are harvesting coins and re-farming, as then we have a compounding effect.

It almost makes me wonder who would liquidity pool on uniswap when the rewards here are so great.

EDIT: Possibly my second pool is showing returns since Sunday, as I think that is when I harvested that pool. In that case, it is SIX days of returns. So the returns are 50% more than they should be. In that case, the returns for that pool would be 0.96% and 88% respectively.

submitted by /u/Cryptodragonnz
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Imagine having the opportunity to buy BTC at 550.

Posted: 12 Dec 2020 01:41 AM PST