Utopia Talk / Politics / Crypto 4ever

Nimatzo iChihuaha	Tue Jul 20 10:37:17 Here we go, the tale of the tape. Nhill and Nimatzo ALHPHA divergence! Haterz gonna hate.
nhill Member	Tue Jul 20 11:20:56 Nim http://www...Ds8xN-Volume-Divergence-by-MM/ is good to make reading the volume simpler. It'll draw bear/bull labels when you have a divergence (such as up on decelerating volume, down on accelerating volume). Works quite well. For the most part, I scan the bars and get a feel that way. But every once in a while I'll load this to get a second opinion.
nhill Member	Tue Jul 20 11:22:52 Haters gonna hate. I feed off Duckhat's Seethe & laugh all the way the bank. Forgot the guy even existed until he so generously topped off my last thread: http://uto...hread=88360&time=1626794705376 Thanks bub ;)
nhill Member	Tue Jul 20 16:50:46 BTW Nim. Kucoin has the most volume so that's what I use when looking at volume.
OsamaIsDaWorstPresid Member	Tue Jul 20 17:41:00 rofl laughin 2 da bank az ure buyin crashin coins http://s3.tradingview.com/z/Z2H3HkQh_mid.png rrrrrrrrooooooooooooooooffffffffffffffffflllllllllll
nhill Member	Tue Jul 20 17:54:31 I'm shorting Bitcoin. I know this is complex, so come a little close. *whispers*: i make money when it goes down
OsamaIsDaWorstPresid Member	Tue Jul 20 18:21:57 ure stil buyin ethereum leik a tard rofl
nhill Member	Tue Jul 20 18:27:40 Apparently tard is someone that made a couple thousand USD off trading in the past 3 weeks messing around with play money while beating all major market indexes. Again, thank you for the compliment. ;)
OsamaIsDaWorstPresid Member	Tue Jul 20 19:10:35 http://s3.tradingview.com/z/Z2H3HkQh_mid.png "nowz da tiem to buy" - nhill roooooffffffffffffllllllll
nhill Member	Tue Jul 20 22:11:15 Now you're making up quotes. Can't quote me for real because I'm right too much lol.
Nimatzo iChihuaha	Wed Jul 21 06:14:42 Looks like a clear bounce from 1700 levels. Soon I will be able to close my ETH long position :) I bought more ETH at 1785.
nhill Member	Wed Jul 21 09:10:29 I was accumulating all through 1730-1790 in my PA, but didn't signal it here. I'll probably hold this one for a while, busy with other stuff lately. Not sure how much trading I'll do this next week. 'Course last time I said this, I ended up trading anyways. ;)
Nimatzo iChihuaha	Wed Jul 21 09:33:44 Everytime you try to leave, I pull you back in! I closed my patient ETH long position at 2020 for 1+%.
nhill Member	Wed Jul 21 14:17:35 lol Closing @ 1972
nhill Member	Wed Jul 21 14:18:35 Open @ $1818 Close @ 1972 Profit @ +8.4% >ure stil buyin ethereum leik a tard rofl Just made 8.4% on that tard move. Osama, what's up?
nhill Member	Wed Jul 21 14:23:19 Trading Performance June 29th-July 21nd: BTC: -11.1% nhill: +21.83% S&P 500: +1.53% My haters going to be dropping like flies. At least their net worth relative to mine, anyways. Not even a month into it an I've made +21.83% gainz in a bear market.
Nimatzo iChihuaha	Wed Jul 21 14:37:31 Of course I meant 1920, I wish I had been more patient and sold at 2020.. DOH!
Nimatzo iChihuaha	Wed Jul 21 14:40:11 +21.83% gainz May Satoshi bless you trades and the ledger confirm you.
Nimatzo iChihuaha	Wed Jul 21 17:05:32 http://www.youtube.com/watch?v=ljw9MeVccAU Elon Musk, Jack Dorsey, & Cathie Wood Discuss Bitcoin Elon says he, Tesla and SpaceX own Bitcoin. He sounds very positive. Pretty cool that Dorsey and Squarespace are working on their own DeFi project.
nhill Member	Wed Jul 21 17:31:08 Thank you ser. I'll be interested in seeing where things go from here. That was a wicked rally, I think from the "B is for Bitcoin" Elon Musk news. Looks like a classic buy the rumor, sell the news. I don't see much upside from here, but also not ready to short. It's almost a 50/50 call. In my personal portfolio I still have a long eth over short btc position. 1:1 ratio. That seems to be the safest play right now when you look at the $ETHBTC chart. Not going to signal that here, though.
nhill Member	Wed Jul 21 17:32:15 ^I wrote that up like two hours ago and forgot to press send.
Nimatzo iChihuaha	Thu Jul 22 07:03:41 Nhill have you listened anything to Michael Saylor?
nhill Member	Thu Jul 22 09:25:08 I'm aware of him and I've watched a few of his talks & interviews. Don't like him. I tend to avoid people who are over-leveraged into Bitcoin. Also, I avoid Bitcoin maximalists in general. He'll obviously say anything to get you to buy Bitcoin (at one point he was telling people to max their credit cards and take out a second mortgage to buy bitcoin), as his company and life pretty much depends on it. Seems like a smart guy, but he's way too biased for me to care about him.
Nimatzo iChihuaha	Thu Jul 22 10:25:01 Yes, he is biased, though his bias here is that he is very convinced about BTC. He is "selling" us The Bitcoin revolution, because he is convinced it is one. What to be said about the validity of his arguments, the macro arguments he makes? A smart guy you say, who has over-leveraged into Bitcoin. What I am getting at, is there any meat to it?
nhill Member	Thu Jul 22 11:24:46 I think his macro arguments are sound. His position in a nutshell is that Bitcoin is a scarce piece of "digital property". Like a form of real estate in the digital future. I see it pretty similar. To me, it's more like a scarce collectible than property, though. Property is guaranteed to have value in the future. If I own my rights to 10 acres of land, I'm guaranteed, at a fundamental level, that those 10 acres will be of comparable value in the future (and almost certainly an appreciated value, excluding any black swan type of events). Bitcoin doesn't have this attribute, IMO. It's more like a collectible. There'll probably be a superior version of Bitcoin in future. I'd argue that there already are a few, technically speaking, but none have attracted the hash power, so, practically speaking, Bitcoin is still the most secure store of value. But 30 years down the road? I'm doubtful. The advantage Bitcoin has, though, is that even if something superior attracts more security (not necessarily in the form of hash power, but I think that has to be a component)? Bitcoin is still the first cryptocurrency. It's an indelible meme. Even if Bitcoin loses 100% of its practical value, it still has *collectible* value. That's why I see Bitcoin as the safest crypto store of wealth. It's also why I don't buy Bitcoin, though. The safest store of wealth in the stock market has been the Dow Jones Industrial Index. That's where you put your money if you are risk-averse and want to guarantee modest gains. However, for the majority of the time since the Nasdaq 100 Index was released, it would have been the better asset to buy. That's why I buy Ethereum over Bitcoin. Is Ethereum more risky? Yes, for sure. It's susceptible to bubbles like we saw in the Nasdaq near the year 2000 (and arguably right now). But we are so early in the days of the Ethereum / Bitcoin divergence that investing in Bitcoin over Ethereum would be like investing in $DJI over $NQX in 1985 when $NQX was released. Curious how that panned out? http://i.imgur.com/X4rypZd.png ;)
nhill Member	Thu Jul 22 11:30:48 My point being, is there cannot be a *superior* version of property in the future. Property is property. Maybe 10 acres on Mars is better than 10 acres on Earth at some point. But it is still 10 acres of land, either way. Bitcoin doesn't have this guarantee. That's part of the reason why I think Saylor is using faulty narrative. But I also think he's smart enough to know he's using a faulty narrative and does it anyways because it's more compelling. Another reason why I dislike him.
nhill Member	Thu Jul 22 11:34:11 There also may be some macro arguments he makes of which I'm not aware. Did you have any in particular on which you'd like my opinion?
nhill Member	Thu Jul 22 11:38:01 If I was Michael Saylor and was going to over-leverage into any crypto, it would be Bitcoin. I'm not criticizing that decision. You need to adjust your risk-aversion in direct proportion to leverage. But, he's talking (sometimes shilling) to people that don't have access to 500 million dollars in junk bonds at the drop of a hat and these people are listening to him. Disingenuous. Like I said, I respect his intellect and his macroeconomic understanding, but I don't respect the way he distributes it. He's always talking from the point of view of someone that basically has infinite leverage. Unless you're in the top 99.99%, you don't.
nhill Member	Thu Jul 22 11:54:31 Short BTC @ 32336
nhill Member	Thu Jul 22 21:10:10 Taking a loss on this one @ 32691 May you wins always be bigger than your losses.
Nimatzo iChihuaha	Fri Jul 23 14:56:13 Just your general take is sufficient :)
nhill Member	Fri Jul 23 18:38:36 Well that rally blindsided me. Didn't check prices all day and it's up quite a bit. Darn. Misplayed this one.
nhill Member	Fri Jul 23 18:38:50 I take solace in having my short position closed ;)
nhill Member	Fri Jul 23 18:39:52 Buying ETH @ 2115
nhill Member	Fri Jul 23 18:41:24 Might be offsides on this one, but still plenty of room to get back to the upper levels of the range.
nhill Member	Fri Jul 23 18:43:06 Trimming to starter position (25%)
nhill Member	Fri Jul 23 18:44:50 Don't want to FOMO too hard. Really I oughta be setting more alerts or just sticking to what I said on Wednesday. I'm not going to have strong hands on the weekend, but could be a low volume pump that I can short heavily at the end of the weekend.
Nimatzo iChihuaha	Fri Jul 23 18:51:48 I closed an ETH long in 2032 out 2110 +3.8% Why go long now?
nhill Member	Fri Jul 23 18:55:34 Mainly because I slept on this rally, but I still see a bit of a scalp at the top here. Will close a 1% gain. But probably not the best play. Just frustrated for not checking it today.
nhill Member	Fri Jul 23 18:57:52 The way I see it, I can enter a starter position (25% of usual) and scalp the end of this rally. Or the rally can break down and I'll round out the other 75% with a dollar cost average. We broke above midrange, so there's still decent upside here.
nhill Member	Fri Jul 23 18:59:38 The daily open here in 2 minutes will tell me all I need to know. It might rally hard here, and then drop hard.
nhill Member	Fri Jul 23 19:01:22 Closing @ 2125, didn't really get anything.
Nimatzo iChihuaha	Fri Jul 23 19:03:29 Sometimes we gamble :)
nhill Member	Fri Jul 23 19:07:25 Yup. Rarely does it work. I'll buy a retrace here. Eyeing $2054-@2063 as a buy zone.
nhill Member	Fri Jul 23 19:07:58 Nice move getting in at 2032 :)
Nimatzo iChihuaha	Fri Jul 23 19:10:11 Indeed, I have also started to use fib voodoo lol was just looking at 2065 as a spot to buy back :D
Nimatzo iChihuaha	Fri Jul 23 19:14:52 All thanks to you Nhill! I was just a HODLER a couple of months ago.
nhill Member	Fri Jul 23 19:21:51 Welcome to the Dark Side. >:) I use fib tools and the volume profile to find levels. I'll run a fib on the overall range if we're rangebound like currently, and on the last big move. I'll combine that with spikes in the volume profile (they tend to be price magnets), and then key level, such as the quarterly open, yearly open, and monthly open. Look for clusters and those become my targets, level to level. But I've been slacking lately, been winging it more than I should be. Part of why I should code a trading bot if I really want to grow money. But only for fun & learning right now :)
Nimatzo iChihuaha	Fri Jul 23 19:25:41 I can alpha test you bot :P
nhill Member	Fri Jul 23 19:37:48 As Chris Jericho would say, "you just made the list!"
nhill Member	Fri Jul 23 21:55:14 Shorting BTC @ $33659
nhill Member	Fri Jul 23 22:21:12 Again not really following my playbook (usually avoid weekends), but this is looking very toppy.
Nimatzo iChihuaha	Sat Jul 24 05:24:52 Nhill When I do fib. ret. I do it from the lowest point of the range to the highest, or vice versa. If we reach a new high, like we did during my sleep, is it reasonable to change the range so the levels change slightly? My understanding of these tools are embryos, but it makes sense since the parameters have changed, right?
nhill Member	Sat Jul 24 11:33:53 Shorting again @ $34200, now at max position size
nhill Member	Sat Jul 24 11:37:18 Nim I'm not sure I'm following. We haven't reached a new high yet in the range. Could you elaborate more?
nhill Member	Sat Jul 24 11:46:39 Oh, you mean a new high in the current rally. Yeah I would not continue to use yesterday's top for a retracement. Looks like we still have more to go here.
Nimatzo iChihuaha	Sat Jul 24 13:29:20 lol indeed, we are gonna sniff 2400 maybe this weekend. I did a quick one in 2161 out 2185 +1%
Nimatzo iChihuaha	Sat Jul 24 13:32:21 I have to learn to trust myself and my intuitions, which seem to be good for this kind of voodoo. I got impatient when I bought at 2161. I consulted the fib retracement, the gann fan, sacrificed a goat and the Shaman told me 2149 is where the party is at. Lo and behold it indeed bottomed out at 2149.
nhill Member	Sat Jul 24 13:55:06 Getting a feel for it, that's great! I've had a few wrong calls in a row, but still turning a good profit over HODLing. Keeping the wins bigger than the losses is the name of the game. I still think there's more downside than upside in the market. A low volume weekend pump does nothing to convince me otherwise...in my PA I'll keep scaling to the short side. But here I'm short @ $33929 for BTC. Currently at -0.9% on the position. Willing to take a ~2% loss here before stopping myself out.
Nimatzo iChihuaha	Sat Jul 24 14:01:20 Yes I have abandoned my idea of more ETH is just as good as more USD. I cash out when I go to sleep and sometimes I put an order for buy in 50% of my cash at some lower level I think it may drop.
nhill Member	Sat Jul 24 14:30:14 This is the way. There will be times when HODLing outperforms, and you have to weather that. But the information people miss is that what we're doing is risk management. This is what allowed me to de-risk the bulk (50%) of my crypto near the top. And de-risk the rest (98%) as we were dropping. Course, along the way I had my Liquity trove liquidated before I could pay it off. DeFi makes it harder in a black swan event (as I mentioned, the gas prices were insane). But I had already been moving most of my crypto into stablecoins on Polygon AAVE and continue to keep it in a similar location (FYI I'm moving most to Polycat for a better yield). Along the way I've also been exploring DeFi on Solana, just to keep an eye on competitors. It's the Wild West out here, but the potential is so obvious that it pains me to see people miss out on it. Hence why I came here to share the light. But back to risk management: sometimes you miss out on big rallies. Case in point yesterday, for me. But there was a real risk of a drop, so I'm okay with being wrong in retrospect (even though I was frustrated at the time, mainly because I didn't check the charts yesterday). Basically, I paid for insurance that didn't pay out. But I still had the peace of mind. ;)
Nimatzo iChihuaha	Sat Jul 24 19:39:16 Ok, so probably not gonna sniff 2400, but I made another +1% :) 2160 -> 2182 A month almost on the day from where I started and I am +4% in Euros with my day trading, not bad for the first month. Some initial success copying you and then I ventured out on my on. Things went south and I was in the hole -12% at some point. I think that was probably good psychologically, that I fail early and crawl back up. This is very addicting :)
nhill Member	Sat Jul 24 22:47:55 It's good to get some losses under your belt and see how it plays out. I was -11% on a trade not too long ago, but I ended up breaking even on it, then going short on a bounce and turning a profit. Profits are made more based on how you handle being wrong, not how you handle being right. Being right is easy. Being wrong takes discipline.
Nimatzo iChihuaha	Sun Jul 25 06:21:10 "Profits are made more based on how you handle being wrong, not how you handle being right. Being right is easy. Being wrong takes discipline." Elaborate.
nhill Member	Sun Jul 25 14:27:32 Sure. You can either making a winning call or a losing call. For a winning call, it's not very hard, psychologically speaking, to take the win. It isn't as *simple* as it sounds, of course, as you still need to determine when to take profits. But for a losing call, it can be very difficult. Psychology gets in the way here from multiple angles: 1. You may think you're getting a better deal as it goes down, and continue to buy more and more, when most of the time it's better to cut the loss early. 2. You may think you were totally wrong and get exit the position right before a rally (in either direction), when really you should have averaged down. Like I said in #1, *most* of the time you are better off taking an early loss if things don't match up with your plan. But not always. Like last week when I entered an Ethereum trade around $1980 and then it went down almost 114% from there. I could smell a likely bottom (although I didn't plan on the full retest that happened), so I kept scaling in and averaged it out ~$1785. I was also holding on to enough cash for 1 more average in case we broke the bottom. And what happened? I turned an 8.4% profit, despite being very wrong for a while. Even more impressive was when I longed $2319 a few weeks ago and it proceeded to drop 13%. I ended up averaging it down to $2166, and then closing the position at $2150. Then I went short right after closing it and turning a 2.4% profit on the trade. That's an example of successfully managing a losing trade. I could have panic sold the bottom, but instead I averaged it out. Then when I broke even I could have hung my head and said fuck it. But no, I had the balls to short it right after I was so wrong. And it paid off. You can check my posts in the last thread and this one to see it in real time. It's been instructive for me and builds confidence in my process. But long story short, it's much more difficult to manage losing due to the psychological effects it has upon us. Managing winning, on the other hand, is relatively easy.
nhill Member	Sun Jul 25 14:29:40 > Like last week when I entered an Ethereum trade around $1980 and then it went down almost 114% from there. I could smell a likely bottom (although I didn't plan on the full retest that happened), so I kept scaling in and averaged it out ~$1785. I was also holding on to enough cash for 1 more average in case we broke the bottom. 14%, not 114%. But either one of those trades could have blown up my portfolio. Both of them were underwater as much as 13% at times. If I mismanaged those losses, I could have negated all of my gains. Thankfully, I was able to dance with them and turn both into profits (actually the bottom retest was my best one so far).
nhill Member	Sun Jul 25 14:47:54 Another live example, let's see how well I manage this loss. Right now I'm losing money on my BTC short position. It's down -1.8%. Very rarely do I let a short position go down more than 2%. It's not a very healthy habit to short a cult. But, this time? I still feel very confident in this drop, considering it's the weekend and it looks overextended on all my TA. So, what's the plan? Well, I'm already at my max position size of 2% on the signals here. But in my personal portfolio, I've entered an accumulation phase. I'm going to accumulate shorts in the 34.5-35K range, setting fill targets ever higher. If we break above 35K I will stop accumulating until we hit 36K. From 36K-36.7K I will start accumulating again (limit orders peppered through that range, the higher the better). If we hold above 36.8K then I will settle for taking a big loss (~8.5%) and being completely wrong. Why am I okay with this? Well I'm already up ~20% on Bitcoin since I started this. And I think this is the biggest short opportunity we've had since June. So I'm increasing my risk appetite, as I've been trading the tape and shorting the bounces successfully. I don't think we're out of this bear/crab market until people completely lose hope. Right now there's a bunch of optimism on a weekend. Feels like fish in a barrel to me. We'll see if I'm right. I will signal another dollar cost average if we get above 36K. That would put me at a very uncharacteristic 4% exposure on my portfolio. That's a lot of money. But the reasons stated are above. This is also why I never trade with all of my crypto. Usually only 1% of it.
nhill Member	Sun Jul 25 19:15:00 Okay we are out of the first zone. I accumulated through it. Now I'm -6% on my short signal, time to see how this plays out.
Nimatzo iChihuaha	Sun Jul 25 19:25:40 We got volumes again. I totally missed this rally, did some measly scalps, less than 1% total. Another day another dollar I guess it is as you say, you don't short a cult :,)
nhill Member	Sun Jul 25 19:40:22 Yup. Generally my policy. But I'm not closing my shorts at this point. We are almost at the point of no return, though. Perfectly fine, I'll take an 8% loss, but retain ~12% alpha and flip long on the next pullback. But I need to see 36K hold before I'm ready. Maybe we've finally broken free of the range? Party time, if so! You'll notice it gets much easier to trade in a bull market. Wait for an overextension, buy the pullback/dip and the alpha starts pouring. We ain't there yet, though.
nhill Member	Sun Jul 25 19:43:54 I don't short in a bull market, but will frequently take profits and buy pullbacks with my trading allocation (~1-2%). And that's if I trade. I usually don't, but this crabby market brought me into it for some fun. Worst case scenario I accumulated some alpha and grew my holdings. No complaints. If this is a breakout I'll just keep most of my crypto holdings in Ethereum, Matic, and Chainlink. Right now still in stablecoins.
nhill Member	Sun Jul 25 19:58:50 Shorting @ $36850 Last signal before I get stopped out :D
nhill Member	Sun Jul 25 20:01:58 Well that's closed. Lol. What a rally. Closed @ 39K
Nimatzo iChihuaha	Sun Jul 25 21:01:34 I missed most of it, managed to take some more so I landed on 1.1% for the 24 hours. We are back on the path for the moon ;)
nhill Member	Sun Jul 25 21:12:22 It hit 48K on the Binance futures for a second there. Imagine coding a 100x long at that level. Glorious. Let’s hope we stay above 36 now!
Nimatzo iChihuaha	Sun Jul 25 21:31:32 BTC has crushed the 50 day MA. RSI also broke the downward trend, plus good volumes. WE CAN'T FAIL, bet it all on black!
nhill Member	Mon Jul 26 00:13:53 Haha, a beautiful day indeed. Crickets from the haters. Osama, can you post that chart again?
nhill Member	Mon Jul 26 00:14:34 "OsamaIsDaWorstPresid Member Tue Jul 20 17:41:00 rofl laughin 2 da bank az ure buyin crashin coins http://s3.tradingview.com/z/Z2H3HkQh_mid.png rrrrrrrrooooooooooooooooffffffffffffffffflllllllllll" Nvm, I can just scroll up. How embarrassing is that lmao
nhill Member	Mon Jul 26 15:25:44 Shorting BTC @ 38300
Habebe Member	Wed Jul 28 00:50:59 "Its time to ban cryptocurrencies" http://the...e-to-ban-crypto-currencies?amp Skimmed around, kinda funny, I liked this line. "dollars, euros and yen are backed by nations' respective treasuries. If someone invents a cryptocurrency, any value is based solely on convincing others it has value."
nhill Member	Wed Jul 28 18:43:03 "any value is based solely on convincing others it has value." lol. too stupid for me to even respond, so just lol. Shorting BTC again @ 39900 My last chance to get rekt before we confirm a bullish trend. But we're still in the range, so I trade the level...
nhill Member	Thu Jul 29 13:37:15 Awesome AAVE released free swaps, 0 fees. Now I can day trade all I want.
Habebe Member	Thu Jul 29 14:04:00 I thought you would enjoy that logic. So with AAVE you can swap say ETH or BTC for AAVE, for free?
Habebe Member	Thu Jul 29 14:08:52 I thought you would enjoy that logic. So with AAVE you can swap say ETH or BTC for AAVE, for free?
nhill Member	Thu Jul 29 15:44:21 Yes, you can swap your ETH for BTC. BTC for ETH. AAVE for MATIC. MATIC for DAI. Etc. Basically you can trade for free. $DAI is a stablecoin so it's a good way to take profits and re-enter. This is going to change my game a lot...can do as many small trades as I want without having the 0.1% fee most services provide. Huge game changer...especially for risk management. Can have tighter stop losses and re-enter without penalty.
Nimatzo iChihuaha	Thu Jul 29 15:59:12 Hey that sounds great :) I rather leave Binance.
Habebe Member	Thu Jul 29 16:11:17 Nhill, Yeah, that really opens it up to smaller investors and trades, that is definitely a game changer.
nhill Member	Thu Jul 29 17:51:59 Nimatzo Just be sure to either take your assets off from the Polygon network (I think Binance supports this finally), or bridge them to the Polygon network. Then deposit the assets you want to trade in AAVE and you can swap for free after that. You always have to keep a little bit of each to remain eligible for free swaps. Habebe Yup, it's a big equalizer. People with billions of $ in trade volume almost get a free pass (Binance charges them like 0.02%). Now everyone gets a free pass, regardless of how much money they have. Yet another example of DeFi leveling the playing field for everyone. Beautiful!
nhill Member	Thu Jul 29 17:55:30 Soon they will have fee free shorting, also. I can't wait for that. It's already on AAVE v2 for Ethereum. Soon to be released for AAVE Polygon. Then I can go short and long at will, doesn't matter how many times I swap. Will be able to accumulate alpha if I want to trade the 5-15 minute charts for a while.
Habebe Member	Thu Jul 29 18:11:14 So basically, lets say you buy BTC at 34, it jumps to 39, then you convert it to AAVE and cash out for free?
nhill Member	Thu Jul 29 18:16:26 Yes. But you can convert it to $DAI to guarantee your gains locked in $USD terms. $DAI == Crypto USD
Habebe Member	Thu Jul 29 18:35:01 So instead of just cashing out your stalling it in a stable coin to withdraw at whatever pace suits you. Or lets say you want to convert BTC into ETH. You first convert the BTC to AAVE and then to ETH?
nhill Member	Thu Jul 29 19:27:10 > So instead of just cashing out your stalling it in a stable coin to withdraw at whatever pace suits you. Yes, to accumulate more as it goes up and down. > Or lets say you want to convert BTC into ETH. You first convert the BTC to AAVE and then to ETH? You can convert straight from BTC to ETH on the platform.
Habebe Member	Thu Jul 29 21:09:33 "You can convert straight from BTC to ETH on the platform" Cool, that's what I was unsure of. Sorry to ask so many questions, but Im guessing this isnt on coinbase, how would one go about being able to trade with nongas fees? Like I get its on thwndefi network, but how would I get into that?
nhill Member	Thu Jul 29 22:59:51 Habebe Coinbase doesn't support withdrawals directly to the polygon network. Here's what you'd do: 1. Create an Ethereum wallet (Metamask works fine). 2. Send your Ethereum to the wallet address (it'll take up to 20 minutes). 3. Add the Polygon Network to Metamask. Here's how you do that: http://doc...sk/config-polygon-on-metamask/
nhill Member	Thu Jul 29 23:00:30 4. Use the Polygon bridge to send your Ethereum to the Polygon network. (http://wallet.matic.network/bridge/)
nhill Member	Thu Jul 29 23:01:28 5. Go to AAVE (http://app.aave.com/dashboard) and select the Polygon network. From here, you can deposit your Ethereum into AAVE and start earning interest on it.
Habebe Member	Thu Jul 29 23:04:31 Awesome, thanks.
nhill Member	Thu Jul 29 23:04:44 If you want to have fee free swaps, you must have the assets deposited into AAVE. I use http://zapper.fi/dashboard exchange function to convert cryptocurrencies for that. AAVE (on Polygon) supports $DAI, $USDC, $USDT, $AAVE, $ETH, $BTC, and $MATIC. I would recommend breaking your crypto into $DAI, $ETH, $BTC, $AAVE, and $MATIC. But it depends on what you want to trade. I wouldn't recommend $USDT (Tether) because it has systemic risks and you can't use it as collateral (due to the systemic risk). You can deposit all the cryptos you want to trade and then swap from the AAVE dashboard.
nhill Member	Thu Jul 29 23:05:37 DeFi is not very user friendly right now, as you can tell. It's extremely early yet, a glimpse of the future. But let me know if you get stuck and I can proffer some guidance, as I've been doing this for over a year.
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