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To add to thisā¦
These videos are 18 months old but still very relevant.
Projects have fallen in and out of favor but these do a good job of going over the basics of DeFi. Diagrams are pretty helpful if youāre new. The channel also has some videos on NFTs.
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Wouldnāt that be a good buy & hold investment?
Not in my opinion. Most of them are going to fail.
I mean, I have some like Gala and Mines of Dalarnia where I think they might be long-term successful and I donāt have an immediate exit planned. But Iām still keeping a close eye on them in case I need to jump ship. Things move and change fast.
Also, those high yields donāt last. The reason theyāre that high is to provide incentive for people to stake risky projects in the early stages. They tend to drop over time.
Thereās no way the squares are worse at NFTs than these Texans are at PLO at these semi legal card rooms. Jesus Christ
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This is like moneymaker boom days
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Or finding a high apr staking situation on a chain with super low gas fees.
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Iāll briefly add my experiences here, though Iād say a lot more if I had the time.
I started with a roll of about $7500 about 6 weeks ago and when ETH was about 25% higher. My literal first two NFT-actions were getting scammed for ~$350 and then buying into another collection that tanked by 80% almost immediately. And Iāve had <EV luck on most of the mints Iāve had so-far, generally ending up in the bottom 1/3 of collection rarity (though with a small sample size).
But despite the inauspicious start, Iāve more than doubled my initial roll. More valuable than that, though, has been the collective experience of sharing in this with everyone else on the discord. The best UP-related comparison I can make is in the November 2019 thread live-blogging Trumpās election loss, when the forum was united in excitement and mutual appreciation. This feels similar, but with the addition of incredible generosity and shared knowledge/encouragement from everyone. Those who have struck rich are eager to share the experience with others, and those on the way up are excited to participate in something new. When someone strikes it big with a five-figure score (which happens almost nightly), the groupās culture is one of shared exuberance and celebration rather than bitterness or jealousy.
The whole experience is wild, and there are many aspects of the whole NFT phenomenon that are absolutely in a bubble. But Iām grateful that @Goofyballer posted about the Wolf Game madness because it inspired me to participate in something that - while it may not make me rich - Iāll remember forever. And Iām posting here as well, in case it inspires anyone else to join the party.
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Lot of people asking about long term holds and safe plays and Iām not sure if there any good answers in the NFT space. I think there are definitely drops that the discord would grade higher than others in terms of likelihood of being profitable at some point but we donāt really have any such formal grading system (although maybe we should?). For example, pakās merge (a white dot on a black background) was the closest thing to a free money must-buy Iāve seen in a while. Would have graded it an A/A+ and it was a great buy for new people due to ease and the fact that it was an ~$800 to $900 auto-profit for flippers. Those drops arenāt too frequent, but seems like maybe about the level of involvement some people here have expressed who are interested but canāt stay plugged in 24/7.
Follow up poll for the crypto/NFT winners:
How much of your winnings have you taken off the table into hard currency?
- All-in baby and adding more whenever I can
- All-in but not adding more
- Skimmed off 1-25%
- Taken 26-50% out
- Taken 51-75% out
- Taken 76-90% out
- Still piddling with 1-10% in the game
- All-out baby - riding off into the sunset
0 voters
How bad do you feel about investing in the literal nut low of human civilization, cruise stonks, while the world is burning?
- Give zero shits, 4% a year is heaven
- At least it isnāt jpegs!
- I can retire by 64 instead of 65!
- Cruises are the peak of human civilization
0 voters
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I sportsbet for a living. Itās not easy and if you think you can just eyeball teams and bet and win, you canāt. Best thing for small roll is exotics like player props that donāt scale well and therefore arenāt gamed out by the big boys, but youāre still going to have to do some number crunching.
Dammit I edited the poll title and lost some votes. :(
āHardā currency, like the kind that loses value year over year for the last several decades
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To be fair, I think everyone here agrees holding US Dollars isnāt a great long-term investment.
Sure. Hard currency sucks. Itās just a question. Iām legitimately impressed with money people here have made in crypto, and curious where everyone stands on taking gains out of the ecosystem. Not trying to needle anyone.
Itās like anything tbh. You take some gains out and leave some in. A diversified strategy. The extent people do is quite varied.
Hence the poll (that got you all salty 
)
I think we had 2 all out babies and two other that I canāt remember before I changed the title and accidentally deleted the votes.
Iām not really salty but the point you seem to miss is no one continuously shows up to punch you in the dick for investing in cruise stonks even though it is enormously low hanging fruit. Meanwhile you think telling a decent chunk of people here that you think they have tulip mania for months on end(really years) is totally fine. Itās kind of weird.
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