Bitcoins - digital currency
That’s actually a pretty bold move for a UK-listed company.
Curious to see how the market reacts long-term—definitely one to watch.
It's doing absolute numbers on the Aquis exchange, yesterday it was miles clear for biggest volume and was 6x the 2nd place
Most places where you can trade the stock appear to be allowing phone dealing only on it also. It is a tiny stock with only £7m market cap before the open today
Also Tyler Evans is a director, other people appear to like that but I dont really know who he is if I am completely honest
https://investors.smarterwebcompany.co.u...
UK crying out for something like this imo and I am rooting for them. They are trying to get more brokers to offer the stock at the moment. Not financial advice do your own research before buying anything of course.
this is more shitcoin territory than bitcoin, but unless these copycat vaporwares can raise capital at a greater mNAV than MSTR — what is the purpose of buying them other than pure speculation?
this is the equivalent of BCH/BSV/LTC zealots getting rekt betting on the “better bitcoin” which is a dead on arrival investment thesis.
this is more shitcoin territory than bitcoin, but unless these copycat vaporwares can raise capital at a greater mNAV than MSTR — what is the purpose of buying them other than pure speculation?
this is the equivalent of BCH/BSV/LTC zealots getting rekt betting on the “better bitcoin” which is a dead on arrival investment thesis.
It's just speculation.
Can't argue against Strategy being the better vehicle at raising capital to buy btc. This is microcap stuff, they made a buy on the 30th which took their total holdings to 5.44 bitcoin.
Not really. We have an E.O., a few posts on Truth Social, and a "crypto summit" scheduled to take place at the White House on Friday. Just a lot of talk at this stage.Link to the E.O.:
Article about the summit:
Curious to see where this all leads.
Right now it’s mostly buzz with not much clarity. Let’s see what actually comes out of the summit.
It's doing absolute numbers on the Aquis exchange, yesterday it was miles clear for biggest volume and was 6x the 2nd placeMost places where you can trade the stock appear to be allowing phone dealing only on it also. It is a tiny stock with only £7m market cap before the open today
Also Tyler Evans is a director, other people appear to like tImpressive numbers for SWC—being 6x ahead of the next highest volume on Aquis is no joke.
Curious to see if the momentum holds in the coming days.
Really interesting to see a UK tech company taking such a bold approach with Bitcoin.
The 10-year plan sounds ambitious—curious to see how it plays out and whether it sets a precedent for others.
That’s actually a pretty bold move for a UK-listed company.
Curious to see how the market reacts long-term—definitely one to watch.
Curious to see where this all leads.
Right now it’s mostly buzz with not much clarity. Let’s see what actually comes out of the summit.
Impressive numbers for SWC—being 6x ahead of the next highest volume on Aquis is no joke.
Curious to see if the momentum holds in the coming days.
You are a curious person, aren't you?
Curious to see how he responds to that.
“Curiouser and Curiouser!”
I'm curious to find the need to question his curiosity.
Curious to see where this all leads.
Right now it’s mostly buzz with not much clarity. Let’s see what actually comes out of the summit.
Buddy, you quoted a three-paragraph post I wrote 2 months ago, then you added/included a paragraph that was not part of my post but formatted it as if it were.
Not cool. Please don't that.
we back baby
to be brutally honest, for those in the game for a while, we've never been -EV for years.
Looked up the last time BTC was ~100k for the first time, seems to be December 17th or so of last year.
ETH was 4k, SOL was 222, DOGE was .40. Crazy how BTC gets back to 100k and everything else is way cheaper than it was just 6 months ago.
I expected a bit more activity in this thread after BTC reached six figures again on Thursday. Oh well, I suppose y'all are still humbly stacking sats.
Out of curiosity, I searched this thread for the names of companies that pay out interest on crypto, or did so in the past.
- BlockFi (now bankrupt): last mentioned on 08-22-2023
- Celsius (now bankrupt): last mentioned on 01-21-2024
- Ledn: last mentioned on 02-09-2022
- Nexo: last mentioned on 12-31-2022
No doubt there are more, but these are the ones I remember being discussed back in the day. Is anyone around here still using these or similar sites (not the bankrupt ones, obviously)? I am still using Nexo myself.
I expected a bit more activity in this thread after BTC reached six figures again on Thursday. Oh well, I suppose y'all are still humbly stacking sats.Out of curiosity, I searched this thread for the names of companies that pay out interest on crypto, or did so in the past.No doubt there are more, but these are the ones I remember being discussed back in the day. Is anyone arou
You're missing the best one, FTX! 10%(i think) annual interest paid out hourly. I remember getting $0.09 every hour. Crypto transactions are the worst for taxes.
I used FTX, Blockfi, and Celsius last cycle. I don't use anything for interest anymore, as I learned my lesson from last cycle. Even though I didn't lose anything by exiting in time, the risk is still too high imo. Picking up dimes in front of a bulldozer...
I use the Gemini Credit Card to stack additional sats now.
Not your keys, not your coins
No doubt there are more, but these are the ones I remember being discussed back in the day. Is anyone around here still using these or similar sites (not the bankrupt ones, obviously)? I am still using Nexo myself.
Does Nexo TOS transfer title to Nexo?
Hard to trust any of them after the cluster**** that was 2022 and the shady practice of title transferring to the companies even if you were only taking out an overcollateralized loan.
Just saw Nexo is paying 4% in-kind on BTC if holding >2 BTC there but I'm way less risk averse giving up control of BTC these days after seeing 2022 play out.
Fortunately, I was able to get my money off of Blockfi. They sent an email basically saying everything was fine and that I shouldn't be worried. That email had the opposite affect on me and I withdrew my money pretty quickly. Dodged a huge bullet!
I still get BlockFi settlement crypto scam emails sent to my inbox every now and then. I'm guessing that a list of everyone who had money on BlockFi is on a list and that list got out to a bunch of scammers. They must be desperate for anyone that will bite. Anyone else getting these? They are pretty annoying. I think I finally wised up and instead of just deleting them I've started blocking them and reporting them as spam.
You're missing the best one, FTX! 10%(i think) annual interest paid out hourly. I remember getting $0.09 every hour. Crypto transactions are the worst for taxes.
Hourly payments, wow.
True.
Does Nexo TOS transfer title to Nexo? Hard to trust any of them after the cluster**** that was 2022 and the shady practice of title transferring to the companies even if you were only taking out an overcollateralized loan. Just saw Nexo is paying 4% in-kind on BTC if holding >2 BTC there but I'm way less risk averse giving up control of BTC these days after seeing 2022 play out
I'm afraid I don't understand the question. Does this perhaps apply to borrowing only? I've never tried that.
Fortunately, I was able to get my money off of Blockfi. They sent an email basically saying everything was fine and that I shouldn't be worried. That email had the opposite affect on me and I withdrew my money pretty quickly. Dodged a huge bullet!
👍
I'm afraid I don't understand the question. Does this perhaps apply to borrowing only? I've never tried that.
It means in order to earn interest rewards on your Bitcoin you are transferring the title of the coins to Nexo (or Celsius or Voyager or BlockFi).
In the event of bankruptcy, your claim against the entity becomes a dollarized value at the petition date of bankruptcy. In the case of Celsius, their bankruptcy date occurred when Bitcoin was trading at $20,000 - so if you had 10 BTC with them worth $200,000 at the time then your legal claim was satisfied when BTC crossed $100k and you receive ~2 BTC back.
Most of the people caught up in those bankruptcies lost 85-95% of their absolute coin holdings. People that withdrew assets within 90 days of the bankruptcy filings were also sued for preferential transfers due to legal title of the coins transferring to the companies.
The whole thing is more or less legal theft using bankruptcy law. The fact that Nexo is paying 10% on USDT is concerning as there is no conceivable way they can pay that in a non-ponzi manner (or burning investor capital on rewards).
It means in order to earn interest rewards on your Bitcoin you are transferring the title of the coins to Nexo (or Celsius or Voyager or BlockFi). In the event of bankruptcy, your claim against the entity becomes a dollarized value at the petition date of bankruptcy. In the case of Celsius, their bankruptcy date occurred when Bitcoin was trading at $20,000 - so if you had 10 BT
Thanks for taking the time to explain that. The word "bankruptcy" is mentioned only once in Nexo's Terms of Service:
3.1.3.4. You understand, consent to, and agree that all risks, not exhaustively listed herein, including but not limited to third-party risks, such as bankruptcy, cybersecurity, regulatory risks, etc., associated with Nexo’s strategies may directly affect the integrity of your Digital Assets. This includes, but is not limited to, the restriction on your ability to withdraw your Digital Assets at your convenience and/or your ability to receive the same Digital Asset or the desired fiat equivalent of the latter.
A bit vague, to say the least...
Just a sidenote: In order to get the full 10% interest on stablecoins, one has to hold quite a lot of NEXO, the native shitcoin (at least 10% of one's holdings). But I suppose 8% - the minimum - is still a high percentage.
Where FTX, BlockFi and Celsius collapsed, Nexo managed to survive the most recent bear market. That counts for something, but it doesn't mean I should trust them blindly. So I appreciate y'all's replies and will be transferring some assets.
A little thing that may help. Take 72 and divide that by your annual interest return that you are getting on crypto. If you have reason to believe that your money will be safe there for that many years untouched then it is a good investment if you are correct. If you have doubts, reconsider.
If you really want to be nerdy about it. Take the log(2)/log(1 + i), where i = annual interest to be more precise.
This may not be the best approach, but it does treat your money as if it is a 1:1 ratio bet which can make it easier to conceptualize the risk in your mind.
Sometimes a more sketchy place with a higher interest yield can be a better investment than a "safer" place with a lower interest yield. However, if there is a high interest rate, there may be nefarious reasons why it is so high as johnnyBuz has said in his post.
If you take a "safe" place with only 1% yield think on whether you are comfortable letting that money sit there for 70 years untouched. I'd rather keep my money in a sketchy place with 36% yield and pray it doesn't collapse in that time, but that is just me. Either one could be bad investments though. I did do margin lending on KuCoin back in the day when all the tether scare was going around on social media. They were offering 36% yield at the time and I figured KuCoin was likely to be around in two years without running off with my money so I took up the opportunity. As that rate started to drop, the risk wasn't worth it in my view and I moved my money elsewhere. Maybe this isn't the most sophisticated approach, but it definitely is a better framework than just winging it and hoping for the best which I'd imagine that a lot of people in crypto are actually doing.
I would ask yourself if you feel safe having your money untouched on Nexo for 7 years and with the added variable that Nexo coin doesn't go to garbage during that time. Then make a decision based on your trust level with that company.
