re: Gemini Earn, I greatly appreciate the points you folk have raised by looking into the terms and fine print.
Have decided to opt out of the program because something doesn't pass the sniff test for me.
Redeeming the coins I have locked into the Earn program, will not be available to use in my trading account until February 9th. That got a raised eyebrow out of me.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6192. (Read 26710725 times)
February 02, 2021, 03:12:37 AM
February 02, 2021, 03:02:11 AM
Those considering that gemini 'earn' thingie better read this:
https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers
Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:
https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule
Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split
What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.
https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers
Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:
https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule
Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split
What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.
Wow whole 3% APY and they don't even guarantee your money, where do i sign up (not).
If everyone began to send their coins to these institutions wouldn’t that enable the market manipulators to open larger short positions since there would be more BTC available to borrow?
This in turn would mean that “they” would be able to push the market down harder and faster.
If everyone just kept a hold of their BTC until the moment they wanted to sell then there would literally be no BTC available to borrow to open shorts.
Or am I being too naive here?
February 02, 2021, 02:38:27 AM
4 year shift
16x price shift
July 2017 looks the most similar to our current situation...
16x price shift
July 2017 looks the most similar to our current situation...
February 02, 2021, 02:06:46 AM
Those considering that gemini 'earn' thingie better read this:
https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers
Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:
https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule
Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split
What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.
https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers
Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:
https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule
Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split
What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.
Wow whole 3% APY and they don't even guarantee your money, where do i sign up (not).
February 02, 2021, 01:38:08 AM
I thought of you philipma1957 when I dumped my bags, still got heavy bag tho.
To me I hodled it as a Joke.
1,000,000 was the peak I had at 0.0025 about $2500.00
fucker kept going up. If my 440,000 coins left get unstuck and I sell 290,000 at 4 cents.
I will have turned 2500 usd worth into 24,600 In under six months.
F U Indian government. F U. 
https://finance.yahoo.com/news/india-proposed-law-bans-private-cryptocurrencies-181519169.html
This is going on for last 3-4 years so its business as usual. Blanket Ban is virtually impossible in India.https://finance.yahoo.com/news/india-proposed-law-bans-private-cryptocurrencies-181519169.html
F U Indian government. F U.
https://finance.yahoo.com/news/india-proposed-law-bans-private-cryptocurrencies-181519169.html
https://finance.yahoo.com/news/india-proposed-law-bans-private-cryptocurrencies-181519169.html
Well, I'l grab some more popcorn then. I need to see india divide in a bunch of smaller states and watch how their armies clash between each other while China will try a land grab at the border.
February 02, 2021, 01:18:18 AM
February 02, 2021, 12:57:47 AM
February 02, 2021, 12:22:55 AM
Sofia, the Bulgarian capital, sells bus tickets for BTC and even gives a discount to users of the cryptocurrency.
February 01, 2021, 11:52:00 PM
Biodom / Bawb / all,
Hey. Lurker since ..... whenever this account was created back in the day. Not OG, but close enough.
I've actually logged in to my account intermittently to post / ask about this very issue several times since then.
Bawb - if you end up going this route, please post up your experiences.
I look forward to the day I can cash out without having to cash out. That's the dream.
Still hung up on the not your keys, not your coins - but a brother would REALLY like some interest.
Thanks.
Hey. Lurker since ..... whenever this account was created back in the day. Not OG, but close enough.
I've actually logged in to my account intermittently to post / ask about this very issue several times since then.
Bawb - if you end up going this route, please post up your experiences.
I look forward to the day I can cash out without having to cash out. That's the dream.
Still hung up on the not your keys, not your coins - but a brother would REALLY like some interest.
Thanks.
February 01, 2021, 11:44:59 PM
Those considering that gemini 'earn' thingie better read this:
https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers
Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:
https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule
Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split
What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.
https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers
Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:
https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule
Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split
What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.
February 01, 2021, 10:48:09 PM
I get a strange feeling that some folks here, who are already (or will be shortly) rich off-of bitcoin, are engaging in self-defeating trades in all that ws or s-coin crap (be it GME, amc, silver, doggie, whatever). Why?
Because you have a bit of extra money?
In jest?
To show 'tha man'?
Decrease your profit % so you can engage in conversations with those who made "just" 30% last year?
What is the most popular vibe?
Because you have a bit of extra money?
In jest?
To show 'tha man'?
Decrease your profit % so you can engage in conversations with those who made "just" 30% last year?
What is the most popular vibe?
Each stupid idea sounds exciting at some point. So.... what is life without a bit of stupidity and excitement. And its not like people who engage in such sort of things don't expect to lose their money.
edit(*): Also, I think you will be the laughing stock of crypto investing if u can't tell the grandchildren that you are a Dodge meme millionaire. Having "a million dodge" has a ring to it. It almost sounds like you can be full retarded.
February 01, 2021, 10:09:22 PM
Sounds candy. Any risks to take, along the usual ones?
Usual risks. You have to agree to lend out your coin, but Gemini being Gemini, I don't see it being much of a problem with their reserves.
Going to go through the fine print a bit later, but thought it was a noteworthy enough development to write about. Did not see anything about this before. Just sorta popped out of nowhere.
EDIT: Ahh, I see. the APY is based on which coin you choose. BTC is 3.05% APY whereas Filecoin goes as high as 7.40% APY.
https://www.gemini.com/earn
Yeah, I got the same offer from Gemini. Just thinking about it now.
They also will be coming out with a (debit?) card soon I read.
No way will I buy any schnittcoins even if I could get 7.40%. No thank you.
EDIT: I am happy with Gemini, Mr. Lawblaw. The fact that they offer no other Alts that are the least bit interesting is actually a plus for me.
February 01, 2021, 09:18:17 PM
In terms of adoption, Bitcoin has roughly the same users as the Internet had in 1997.
But Bitcoin's growing faster. Next 4 years on current path will bring Bitcoin users to 1b people, that's the equivalent of 2005 for the Internet.
But Bitcoin's growing faster. Next 4 years on current path will bring Bitcoin users to 1b people, that's the equivalent of 2005 for the Internet.
February 01, 2021, 09:11:08 PM
Huh. Just got an email inviting me to join the "Gemini Earn" program. Can receive up to 7.4% APY on my BTC balance.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
i didnt get one but then again i only have a small amount there and ive only been with gemini for a few months. sounds interesting though might be worth parking a bit of coin there (that ones willing to lose of course).
sucks to be a bitcoin plankton like me lol we miss out on the cool stuff.
edit
cool
February 01, 2021, 08:40:52 PM
Sounds candy. Any risks to take, along the usual ones?
Usual risks. You have to agree to lend out your coin, but Gemini being Gemini, I don't see it being much of a problem with their reserves.
Going to go through the fine print a bit later, but thought it was a noteworthy enough development to write about. Did not see anything about this before. Just sorta popped out of nowhere.
EDIT: Ahh, I see. the APY is based on which coin you choose. BTC is 3.05% APY whereas Filecoin goes as high as 7.40% APY.
https://www.gemini.com/earn
February 01, 2021, 08:32:54 PM
Huh. Just got an email inviting me to join the "Gemini Earn" program. Can receive up to 7.4% APY on my BTC balance.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
I used to make some good interest on Bitfinex in the early days with my BTC. Wondered what the downside was. Until they got hacked.
Fortunately they reimbursed everyone after the hack but it taught me that there is certainly risk.
There are ways to decentralize your BTC via wBTC and get interest but that requires going down the DeFi rabbit hole and that is also certainly not without risk.
February 01, 2021, 08:26:10 PM
https://www.cnbc.com/2021/02/01/how-bitcoin-could-be-the-new-gamestop.html
Coincidence?
I don't like the highlighted part, as we (or some of us) have seen how the hedgefockers work..
Quote from: CNBC
Data from crypto news and analysis company The Block shows that hedge funds are short bitcoin by more than $1 billion.
That term “shorting” means that traders and hedge funds are betting that the price of bitcoin will go down. Those short positions ramped up starting in October 2020, just as bitcoin’s latest rally began to take hold.
Meanwhile, individual investors are still buying into bitcoin, among other cryptocurrencies, as they bet that the price will go up.
Sound familiar?
That term “shorting” means that traders and hedge funds are betting that the price of bitcoin will go down. Those short positions ramped up starting in October 2020, just as bitcoin’s latest rally began to take hold.
Meanwhile, individual investors are still buying into bitcoin, among other cryptocurrencies, as they bet that the price will go up.
Sound familiar?
Coincidence?
I don't like the highlighted part, as we (or some of us) have seen how the hedgefockers work..
Let them short the shit out of BTC, there is no government body to print more BTC and no company to issue more BTC. I would love to see us go to $500k+ on the backs of $1billion or $1trillion in wrecked hedge fund shorts.
Pure supply and demand baby and the GME diamond hands have nothing on BTC hodlers. We eat 90% drops for breakfast around here.
February 01, 2021, 08:22:59 PM
Huh. Just got an email inviting me to join the "Gemini Earn" program. Can receive up to 7.4% APY on my BTC balance.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
Sounds candy. Any risks to take, along the usual ones?
a long day. #hodlsleep
February 01, 2021, 08:19:18 PM
Huh. Just got an email inviting me to join the "Gemini Earn" program. Can receive up to 7.4% APY on my BTC balance.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
Currently earning 3.05% on my BTC balance. Guessing the rate goes up as the balance does.
Likely to move some BTC over to Gemini custody for a bit, and see how that works out with larger amounts than the sats I've been stacking, with my degenerate buying activities.
This is sorta kinda a big deal.
February 01, 2021, 08:15:36 PM
https://www.cnbc.com/2021/02/01/how-bitcoin-could-be-the-new-gamestop.html
Coincidence?
I don't like the highlighted part, as we (or some of us) have seen how the hedgefockers work..
Quote from: CNBC
Data from crypto news and analysis company The Block shows that hedge funds are short bitcoin by more than $1 billion.
That term “shorting” means that traders and hedge funds are betting that the price of bitcoin will go down. Those short positions ramped up starting in October 2020, just as bitcoin’s latest rally began to take hold.
Meanwhile, individual investors are still buying into bitcoin, among other cryptocurrencies, as they bet that the price will go up.
Sound familiar?
That term “shorting” means that traders and hedge funds are betting that the price of bitcoin will go down. Those short positions ramped up starting in October 2020, just as bitcoin’s latest rally began to take hold.
Meanwhile, individual investors are still buying into bitcoin, among other cryptocurrencies, as they bet that the price will go up.
Sound familiar?
Coincidence?
I don't like the highlighted part, as we (or some of us) have seen how the hedgefockers work..
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