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Title: Should we be able to post about liquidity mining here? Post by: bittawm on July 25, 2021, 02:42:59 AM I wanted to educate this part of bitcointalk on liquidity mining because I have been making some really good profits.
Someone reported it and it got moved into the service discussions part of marketplace (which does not seem like the right place to me). What is your opinions? Should Liquidity mining be acceptable to post about here? Thread for reference: https://bitcointalk.org/index.php?topic=5349340.new#new Title: Re: Should we be able to post about liquidity mining here? Post by: adaseb on July 25, 2021, 03:53:03 AM I don't think this is the right category because you are referring to providing liquidity in a pool to generate interest correct? Maybe services discussion would be a more ontopic category. Either way, unless it gets moved we can discuss it here.
I looked into this before because I used to make great returns just by doing a cash and carry with the bitcoin/ethereum futures, basically at the beginning of the year, they were paying out something like 25% APY with the longer Sept/Dec 2021 futures expiries. Then when bitcoin started to correct, the funding turned negative and right now there is no way to earn money this way. So I looked into earning with DeFI pools. However I had 3 concerns. First one is to use Metamask you can't have proper cold storage (unless you got a hardware wallet). Second is the impermanent loss that you discussed before, basically the higher APY have a high chance of this happening and the lower APY doesn't provide much interest, like stablecoins. Third issue is that the APY calculators for the highest yield, aren't accurate. They say something like 5% a month but in reality you gain maybe 1%. Title: Re: Should we be able to post about liquidity mining here? Post by: bittawm on July 25, 2021, 04:02:28 AM I don't think this is the right category because you are referring to providing liquidity in a pool to generate interest correct? Maybe services discussion would be a more ontopic category. Either way, unless it gets moved we can discuss it here. I looked into this before because I used to make great returns just by doing a cash and carry with the bitcoin/ethereum futures, basically at the beginning of the year, they were paying out something like 25% APY with the longer Sept/Dec 2021 futures expiries. Then when bitcoin started to correct, the funding turned negative and right now there is no way to earn money this way. So I looked into earning with DeFI pools. However I had 3 concerns. First one is to use Metamask you can't have proper cold storage (unless you got a hardware wallet). Second is the impermanent loss that you discussed before, basically the higher APY have a high chance of this happening and the lower APY doesn't provide much interest, like stablecoins. Third issue is that the APY calculators for the highest yield, aren't accurate. They say something like 5% a month but in reality you gain maybe 1%. yes I am referring to providing liquidity. As you know I am an old time miner, but my defi returns are putting any mining returns to shame. It is the most lucrative opportunity I have ever experienced since the early stages of buying BTC. It is easy to mitigate IL if you pair mirroring assets such as stablecoins or btc/btcb for example. This section is the mining section and it is legitimately called liquidity mining. it is not your traditional form of mining but still called mining none the less Title: Re: Should we be able to post about liquidity mining here? Post by: anu1908 on July 25, 2021, 06:07:19 AM just because it has some "mining" on it doesn't necessarily means it's the same thing. i'd suggest you post about it on the altcoin discussion or service discussion if you're talking about a specific provider. the way it works are way to different from traditional mining, it's just called the same thing to make promotion easier imo.
Title: Re: Should we be able to post about liquidity mining here? Post by: bittawm on July 25, 2021, 07:59:19 AM just because it has some "mining" on it doesn't necessarily means it's the same thing. i'd suggest you post about it on the altcoin discussion or service discussion if you're talking about a specific provider. the way it works are way to different from traditional mining, it's just called the same thing to make promotion easier imo. the thing is, I am not talking about one specific provider. I want to educate the community so they can make some returns and experience what I have experienced. I have mined significantly more than the average miner and liquidity mining is putting hardware mining to shame. Just saying I want to help the community Title: Re: Should we be able to post about liquidity mining here? Post by: adaseb on July 25, 2021, 02:51:37 PM It is easy to mitigate IL if you pair mirroring assets such as stablecoins or btc/btcb for example. This section is the mining section and it is legitimately called liquidity mining. it is not your traditional form of mining but still called mining none the less How much do you earn with providing liquidity for stablecoins however? Generally the yearly APY for Tether is around 10% and it seems its the same with liquidity mining however the risk seems much higher. Plus these are smart contracts and who knows, Uniswap might have some bug which results in everybody losing their funds. Hasn't happened yet but look what happened with ThorChain and Rune the past month. Seems every couple weeks or so we hear of some smart contract getting exploited and people getting their money stolen. What website do you use to get quotes for the most accurate yields? Title: Re: Should we be able to post about liquidity mining here? Post by: stompix on July 26, 2021, 04:11:38 AM Quote Should we be able to post about liquidity mining here? This section is the mining section and it is legitimately called liquidity mining. This being in meta I assume you opened it in altcoins/mining and got moved here and the original question was why the previous topic was moved out of the mining section? In my opinion, it's not mining, and it does resemble more of a service you provide to somebody or it's offered to you Quote Liquidity mining = being a Liquidity Provider. This means holding tokens of projects you believe in and loaning it to various protocols to enable their function. In return, you earn some trading fees (Source 1) and borrow interest (Source 2). Your own description, you loan, you don't mine(!) and according to the rules page, it doesn't really fit there. Quote Mining (Altcoins) - Altcoin mining discussion. This includes discussion of PoW mining, PoS staking as well as other mining-like activity (e.g. dedicated devices, software, troubleshooting etc.). Title: Re: Should we be able to post about liquidity mining here? Post by: kxwhalexk on July 26, 2021, 06:42:18 AM I used to be very enthusiastic about liquid mining.
Before I joined LP farm, I thought it was a very simple thing. You just need to put the LP token in the pool and you will automatically get the income. You will encounter a series of problems. For example, large fund users obtain project tokens through stable currency LP pairs and sell them at any time. As a result, the currency price has been falling. Those who add the project token-stable currency LP pair suffer a lot of losses. If you post about liquid mining. I will continue to pay attention. I still lack this knowledge, thank you！ Title: Re: Should we be able to post about liquidity mining here? Post by: bittawm on July 27, 2021, 08:10:17 AM It is easy to mitigate IL if you pair mirroring assets such as stablecoins or btc/btcb for example. This section is the mining section and it is legitimately called liquidity mining. it is not your traditional form of mining but still called mining none the less How much do you earn with providing liquidity for stablecoins however? Generally the yearly APY for Tether is around 10% and it seems its the same with liquidity mining however the risk seems much higher. Plus these are smart contracts and who knows, Uniswap might have some bug which results in everybody losing their funds. Hasn't happened yet but look what happened with ThorChain and Rune the past month. Seems every couple weeks or so we hear of some smart contract getting exploited and people getting their money stolen. What website do you use to get quotes for the most accurate yields? Check out alpaca finance on BSC: https://app.alpacafinance.org/farm you can get anywhere from 15-40% using leveraged yield farming on alpaca finance. It has been pretty incredible for me Title: Re: Should we be able to post about liquidity mining here? Post by: OgNasty on July 28, 2021, 05:38:35 PM Obviously not appropriate here. I’m not against providing liquidity as I do it alongside staking coins and traditionally mining others. If people here want to search out these topics and learn about them that’s great. It isn’t appropriate to start posting off-topic threads in sections because you want to reach other people. That’s not how forums work.
Title: Re: Should we be able to post about liquidity mining here? Post by: The Sceptical Chymist on July 28, 2021, 10:20:56 PM just because it has some "mining" on it doesn't necessarily means it's the same thing. i'd suggest you post about it on the altcoin discussion or service discussion if you're talking about a specific provider. That's kind of what I was thinking--liquidity mining seems like it doesn't exactly fit any of the sections here, but one of the altcoin ones seems more appropriate than the bitcoin mining section. And why not Altcoin (mining) (https://bitcointalk.org/index.php?board=160.0)? The bitcoin mining section is pretty strict as far as what kind of stuff can be posted there, and I doubt any of the regulars there are going to tolerate a topic like liquidity mining.No, even reference mentioned by you emphasize there's no actual mining involved. It's more accurate to say you're investing on currency exchange/FX and lending service. That's true, and I guess I don't understand a lot about what OP is talking about (though I know it wouldn't be appropriate for the main mining section). Currency Exchange would be the wrong section, since it's basically a marketplace. How about Trading Discussion? I bet you that the moderators in that section wouldn't nuke anything related to liquidity mining, since it sounds like it's a trading strategy when you boil it down.Title: Re: Should we be able to post about liquidity mining here? Post by: bittawm on July 29, 2021, 04:57:22 AM It is just a damn shame, although I am not selling anything I really wanted to bring this amazing stuff to the mining community's attention.
I have literally made a fortune and I want others to enjoy what I have enjoyed! alpaca finance has some amazingly unique features: https://bitcointalk.org/index.php?topic=5350183.msg57555148#msg57555148 and ILV is out of this world amazing: https://bitcointalk.org/index.php?topic=5351507.new#new Title: Re: Should we be able to post about liquidity mining here? Post by: bitsnack on July 31, 2021, 04:38:46 PM I wanted to educate this part of bitcointalk on liquidity mining because I have been making some really good profits. Someone reported it and it got moved into the service discussions part of marketplace (which does not seem like the right place to me). What is your opinions? Should Liquidity mining be acceptable to post about here? Well no, because the mining section of the forum is about the discussion of mining cryptocurrency through proof of work, proof of stake etc. Liquidity mining has 'mining' in its name, but beyond that it has no relation to mining, as from what I am reading it looks to be about investing and receiving profit through loan interest and exchange fees. |