It's not lost on me that the concept of lending crypto for profit runs contrary to the initial vision set forth by the pioneers of the blockchain. Having the ability to be the ultimate custodian of my own money is something that I value tremendously. As big of a believer as I am in this new space, I must admit that I am still reluctant to go 'all in' (for lack of a better phrase) on the cryptos that I have chosen to invest in by dumping all my money into them. The notion of exiting the mainstream banking system entirely (or as close to entirely as is realistically possible while still being able to conduct the basic transactions that I need to) is appealing to me. However, being reared in a culture that has taught me to deposit my money in the bank blindly has ingrained in me an almost robotic impulse to do so without questioning whether or not it is the most productive way to store my rainy day funds (ie what's left over after basic expenses and investments).

Having said that, I was toying with the idea of checking out Celsius or some other equivalent platform in order to break the mold and try something new; something that didn't involve a gigantic financial institution that offers an insultingly low APY on my savings, while lending out those same savings for a much higher yield that will go into their own pockets. Initially, getting involved in DeFi seemed like a relatively safe and efficient way to utilize these extra savings.

You are 100% correct Lucius and JeromeTash, the risks ultimately outweigh the rewards, I see this now and will adjust my plans accordingly by allocating more funds to purchase BTC. Thanks for taking the time to share the wisdom it's appreciated   

Don't despair OP there's still plenty of upside for Bitcoin, just formulate a strategy and stick to it and the gains will follow. I too regret not getting involved earlier (as I'm sure many here do) and also regret not investing more aggressively when I did eventually discover this Godsend to humanity. Even many early advocates liquidated their holdings long before BTC reached it's highest highs; hat off to those fortunate few who have been hodling since the beginning, truly they must have balls of steel.

Anyway now that you realize how special this gift is please continue to support it in whichever way you can; it is incumbent upon all of us to do our part to spread the word and strengthen the network. The potential benefits of doing so for society are truly profound and you'll more than likely profit personally in the process as well

Carry on OP, best of luck

Greetings,

For some time now I have been considering the benefits of using a crypto lending platform to earn superior interest rates on fiat money that would otherwise be collecting dust in some abhorrent financial institution. I'm certainly not interested in depositing my BTC to such an account, but rather am simply interested in converting some of my fiat to USDC for the aforementioned purpose of obtaining a dignified return on my hard earned money. A few factors are leading to my current reluctance to initiate the process, which brings me here for some sound advice.

Amongst my concerns are 1) lack of insurance 2) the security of these networks 3) which network to choose and 4) how any regulation of stablecoins might affect this process, generally. For proponents of these platforms, which stablecoin would you recommend I utilize for my stated purpose? I'm leaning toward USDC as it seems, relatively speaking, that they are legitimate and transparent about the holdings underpinning the value of the asset.  Any insight into this process would be greatly appreciated. Is it worth it at all? Should I steer clear? Feel free to share any thoughts and thanks in advance for doing so

Greetings,

I just finished reading the Bitcoin Standard and am seriously considering restructuring my crypto portfolio as a result (not solely as a result of the text, but due in large part to it--I have other reasons which revolve around a fear of the effects of gov't regulation on the market). Since late 2017 I have been faithfully DCAing into BTC and 5 other projects that I have been able to research and understand as best I can. I've always been somewhat troubled by the centralized nature of some of these ALTs (ETH, ADA, LINK, DOT, ATOM) relative to BTC, but I invested anyway believing that these particular projects will have a strong role to play in the spheres of smart contracts, DeFi and overall blockchain tech adoption in the economy, generally.

So my thinking is to dump my altcoin holdings for BTC and continue DCAing into BTC only; (also feeling a srong desire to become a node operator in order to do my small part to protect and nurture the network as an aside). Bitcoin was my first love in the world of cryptocurrencies back in 2017 when my brother told me about a somewhat obscure digital form of money trading for a price in the low 4-figures; I dove in immediately based off of his brief description of it to me and a few articles that I had read. Immediately I was drawn in because in my mind it represented an alternative (and a giant FU) to the only real game in town, namely the almighty US dollar which has been in a state of decay for decades as a result of mismanagement. Over the years I have researched further which has only served to reinforce my belief in BTC and what the network stands for. Truly, we are all privileged to be living in a time where such a revolutionary concept has been gifted to humanity.

As for the plethora of altcoins out there, and, in particular, the few that I own, I worry about the long-term future of their viability. At the time of this writing, it seems as if the sky is the limit and these projects are not only growing, but here to stay. However, things aren't always as they seem and I'm starting to wonder if it may be more prudent to dump and invest solely in BTC which I feel provides the most benefit to society and potentially has the most durability.

 Anyways, any feedback is appreciated. Call me a crazy bitcoin maximalist, tell me I'm making the best decision possible or anything in between

Really appreciate the insight. How close do you think we are to approval for crypto ETFs? Some of the brass at SEC seem loath to the idea at the moment.  Why are they dragging their feet? Do you view it as a forgone conclusion that these ETFs will be approved?

Greetings,

Any thoughts on the potential impact of incoming government regulations on the crypto market? I'm curious to see how others envision the SEC defining which projects are sufficiently centralized enough to be considered securities. What metrics could be used in this 'test' that Gary Gensler recently alluded to to make such a determination?  How devastating a blow could these regulations potentially have on the marketplace? Given the highly decentralized nature of Bitcoin relative to other cryptocurrencies, should I even be concerned about BTC being affected at all? Does anyone see danger for other well established projects like Cardano or Ethereum?

Thanks in advance for any opinions/insights