BC CRYPTO
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NFT Crypto Guide 101 📚

🔹What are Non-Fungible-Tokens?
🔹What are NFTs used for?
🔹What do I expect for the NFT space in 2021?
🔹What NFTs do i hold?
🔹Where do I buy NFTs?

I will go through all of these questions.

Thread below 👇

 🔹What are Non-Fungible-Tokens (NFTs)?

NFTs are crypto tokens that represent something unique. They are not mutually interchangeable.

This means that one NFT is not the same as the other.

Unlike for example Bitcoin, where each satoshi is exactly the same as the other.
These NFTs exist on the Ethereum Blockchain. Instead of ERC-20 tokens, we call these NFTs: ERC-721 or ERC-1155 tokens.
Each of these NFTs have an unique ID that seperates them.

For example, The Hashmask with ID #6718 is completely different than the Hashmask with ID #9939.

Different visually as well as the ID on the blockchain.
🔹What are NFTs used for?

NFTs are used to create verifiable digital scarcity and digital ownership.

The main applications we see today are:

🔹Digital Art
🔹Collectibles
🔹Games
So aren't NFTs just digital pictures of something?

Well, yes and no. Sure, if you got a NFT art piece you may not be able to physically hang it on the wall, but one thing you do know: You're the owner and there isn't anything like your piece of art.
Forgeries would be very easily identified and everyone in the world can see your piece and see you're the owner. All verified by the blockchain.

Just the fact of having a one-of-a-kind piece of something is very valuable to a lot of people, even if it's digital.
You could even say your digital piece is easier to display to the world than a physical painting that's just hanging in your home. Now, millions of people can see it.

Besides that, some of these art pieces are made by professional well-known artists which adds even more value.
Games are also a very good use of NFTs. In this case, a NFT could be for example, a special weapon or character that has certain stats that may be better or worse than another NFT. Now we're already talking actual ingame advantages on these NFTs.
We all know how big the gaming industry has become by now, and how quick it is still growing to this day.

Trust me, there is PLENTY of people that would love to spend a fortune on something that gives them an unique extra ingame. Whether it's something powerful or just cosmetic.
🔹What do I expect for the NFT space in 2021?

I will start of by saying I am very bullish on the entire NFT scene for 2021 and onwards.

We are only just seeing the tip of the iceberg. NFT projects are getting progressively more attention these last few months.
Meanwhile, more and more companies are developing amazing initiatives and projects all around NFTs.

We are even seeing some coverages of big purchases by big media sites like Coindesk.

https://t.co/cTa9PN2B1p
Just recently, we've seen the sale of 9 rare land plots within the @AxieInfinity universe for a stunning $1.5 million dollars. And this is likely only the beginning.

As more and more attention flows towards NFTs i don't expect anything less than a big NFT boom this year.
The current combined market cap of tokens listed within the NFT category on @coingecko is just $2B.

I would not be surprised to see this go towards $10B+ this year.
🔹What NFTs do i hold?

Only mentioning this because i know i will get asked this.

No financial advice, obviously. 🙂

My Current NFT token (ERC20) holds are:
$PGT, $GHST, $NFTX, $MEGA, $PAINT & $B20.

I hold NFTs in:
@AxieInfinity, @ApeInFinance & @MegaCryptoPolis
🔹Where do I buy NFTs?

NFTs are generally bought on websites like @opensea and @rariblecom. These websites enable you to buy and sell your NFTs but also to list your personally created NFTs.

The ERC-20 tokens are usually available on CEX's, @Uniswap or @SushiSwap.
🔹Summary:

NFTs are one of the newest hypes within the crypto space but still relatively small compared to the rest of the market. The space is getting more attention by the day.

I think a lot of NFTs and projects working within the NFT space have a bright 2021 ahead of them.

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1. Last week, @robbietilton sold this art piece for about 17305$ on @withFND.
I saw a lot of people asking questions on CryptoArt and NFTs (Non-fungible token) to understand how it works. I'll try to explain the basic concepts on this thread ↓


2. First, you don't directly buy the art piece, you buy a token. This token is what holds the asset that you're buying, it is a unique id that is used to represent what you bought. It can hold information like the name of the asset, an URL, a description, and so on.


3. On most marketplaces, you won't have a classic signup or login form when you'll want to create an NFT or buy one. Instead, it will be asked to connect your crypto wallet.

4. Now, why bother with a crypto wallet? Couldn't we just do an app that works with dollars? This is where things get interesting: when you buy an NFT, the data is not stored on the marketplace servers.

5. When you post a picture on Instagram, it is stored on their servers. If the app is shut down, your data might be deleted. But also, Instagram could delete your content if they want to, NFTs works differently.
CRYPTO
Dr. Liyana Mohtar
Dr. Liyana Mohtar
@LiyanaMohtar
Here's my 2021 Crypto Strategy:

Note: Not a financial advice. It is just my opinion after doing my own research (#DYOR). I'm a complete newbie btw.

1. Dollar-Cost-Averaging (DCA) for these 6 coins (HODL)
- Bitcoin (BTC)
- Ethereum (ETH)
- Polka Dot (DOT)
- Cardano (ADA)
- Binance (BNB)
- Litecoin (LTC)

I choose these 6 bcs they are all TOP 10 Coins, they have the biggest market cap which means less risky than other coins.


DCA means I'm going to topup for all of these coins everytime ada duit lebih/dapat gaji.

But I will only buy when price dip / during correction

How to know when price dipped?

I use TradingView (free version) - guna RMI and Stoch indicator, if it touches the lower line it means it have been oversold - under 4h timeframe (because I'm a long term investor). This is to avoid buying at the top.

For example:

This is Bitcoin on TradingView. Under 4h Timeframe, indicator RMI & Stoch. I'll buy when RMI and Stoch touches the lower line. Boleh nampak lepas buy at dip, the price terus naik.
CRYPTO
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Larry Cermak
Larry Cermak
@lawmaster
1/ ETH reached 18-month low today and there is this narrative that the price of is dropping because ICOs are liquidating their treasuries. Well, it’s completely wrong. Let’s look at the data!

https://t.co/yG0vecC7VT


2/ The sum of ETH holdings of ICO treasuries is now a little over 3.57M ETH (3.5% of supply). In April, the treasuries held 4.65 million ETH (4.5% of supply) indicating that they likely liquidated (or moved) about 23% since then.

3/ Despite the decline in ETH price, the selloff hasn’t been as drastic as many analysts anticipated. In the past two months, treasuries of projects that held ICOs liquidated (or moved) 172,00 ETH, or ~4.6% of total holdings.

4/ The most aggressive sellers were Status, district0x and Tierion (in order), which sold (or moved) nearly 55,000 ETH combined since September 9. Out of the 57 companies I tracked, 50% didn’t touch any of the ETH in their treasuries.


5/ At least 11 ICOs currently have a smaller “market capitalization” than the amount that they hold in their ETH treasuries alone (see table below).
CRYPTO
David Fauchier
David Fauchier
@dfauchier
Some thoughts on this super inaccurate piece.

tl;dr: this is not a defence of Tether/ iFinex, who I would like nothing more than to see disappear into irrelevance. However, most of the conclusions here show zero understanding of crypto market

1. First up: it’s completely inexcusable that Tether refuse to have a 3rd party audit. I can’t find a single good faith reason for this.

Bitfinex GC recently did a superb job of sidestepping that question on WBD:

2. For better or worse, USDT (tether) started as a way for people to move fiat between exchanges (a major problem) in the absence of the ability to onboard banking partners, none of whom wanted to touch crypto. USDT is now the dominant stablecoin by mkt cap & liquidity.

3. As a result of the difficulty of having a fiat on/off rail, many exchanges, like Binance, chose to be ‘crypto only’, using stablecoins in lieu of fiat. This is why the majority of inflows into BTC (article says 70%) is via USDT

4. Unbanked exchanges are in aggregate larger than banked ones. This is true, but it’s not because of a giant conspiracy to steal your BTC. Being unbanked = real regulatory arbitrages (lower cost + ability to innovate fast), and lower barriers to entry means there’s more of them.
CRYPTO
Nick Chong
Nick Chong
@n2ckchong
If you've been following DeFi or Ethereum over the past few months, you've likely heard the term "flash loan" mentioned again and again.

This new DeFi primitive has been at the core of a number of economic exploits and arbitrages.

A thread on the basics of flash loans - 👇


Most DeFi loans take place across days, weeks, or even months.

You can deposit Ethereum into Aave, then withdraw stablecoins for yield farming in Yearn, for instance.

On-chain loans have garnered much traction, with total debt outstanding moving toward $2.5 billion.

While popular, DeFi loans are not capital efficient: to account for custodial risk and volatility risk, you need to put up 130-150% of the value of your loan in collateral.

If your collateral slips below the threshold, you're liquidated, resulting in a fee anywhere from 5-13%.

Flash loans are much different than longer-term DeFi loans.

Flash loans are non-custodial, take place over the course of one block, and require no collateralization.

That's to say, the coins you borrow never appear in your wallet.

When taking a flash loan, you can direct the coins to any protocol and function, as long as you pay back the loan + interest fee within the same transaction.

So what the hell? What are flash loans used for?

More often than not, arbitrage.
CRYPTO

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