Here's the official #threadcast for today's Chain Chatter podcast!
Using Crypto Cycles to Build a Runway for Expenses | Chain Chatter #3
Engage2Earn below frens, let's get after it ππ½ππ½ππ½
Here's the official #threadcast for today's Chain Chatter podcast!
Engage2Earn below frens, let's get after it ππ½ππ½ππ½
Still on the subject of wallets, I think it's interesting to use open source operating systems that focus on privacy, such as Tails, so that the whole process of transferring your cryptos is as secure as possible.
I had never thought about it. If our operating system is not reliable, there is no point in being careful with our keys. well thought...
This makes it more difficult for the average person as many barely know what an operating system is.
More than 90% of Internet viruses are Windows-based, while only 5% are made for Linux. This helps a lot to avoid any kind of attack.
Security has been a major concern in the crypto space, with regular hacks and scams rocking the industry every other month.
Cyber security is a point that few people pay attention to, and one that is not often talked about. This is extremely necessary, not only to avoid losing your cryptos, but also to prevent them from being stolen by some kind of malware.
You're right, it should be a more common theme than it is. Since good security and users feeling confident that their assets are safe or they would live in constant anguish about it is critical.
Yes, but unfortunately people only start to worry about this when something happens to them or someone very close to them. And this goes beyond digital security...
I agree with you, cyber security is of utmost importance for the crypto industry as it safeguards digital assets, prevents unauthorized access etc. when we prioritize robust cyber security measures, the crypto ecosystem can enhance its resilience against evolving threats and promote a secure environment for participants.
although it's important, it's really complex. some precautions are quite simple, but others, depending on your project, are very expensive. A small flaw in the code can be enough of a loophole for exploiters to steal or take advantage of the project, and it's not always easy to predict or fix. It really is necessary and complex
Sup guys
Remember if the threadcast freezes refresh only once and give it a few mins. Don't spam that refresh button as it only makes the problem worse
Indeed, security is an extremely important factor... I have seen some projects that were thriving and doing very well until their portfolios were emptied due to a security breach and this not only sank the project but also caused losses for many investors.
I wonder why so many cases like this happen on Web3. Security should be the main concern, after all, when broken, it ruins a company's reputation, no matter how promising it may be.
Definitely, this is something that project founder's need to work on, especially when to promoting crypto or implementing it importance among individual.
Also I think user's needs to be enlightened on how to keep their wallet safe to avoid being breached too.
Yeah, security should be the first thing that every web3 founder should consider to implement in the project he/she is coming up. Once your system is broken into by these hackers, your audience tend to lose interest in the project forever.
You're right! Security has been a major concern in the crypto space, with regular hacks and scams rocking the industry every other month.
It is always good to see founders from projects in #web3 that are not hive based so we can learn and get some good tips to implement in Hive
I admit that I don't know much, it's been cool to learn from this live. Hive has incredible potential, but sometimes I feel like things are a bit stuck in time. Fortunately, there are many good projects to come.
The point you raised here is perfect, we need to get out of the bubble sometimes, not because the hive doesn't have something to offer, but seeking outside knowledge is always a very positive thing. An exchange of information can help us a lot to understand things that we cannot understand only in our "world".
Thank you. Will join the chatter
Awesome and good to be here again, let talk about cryptocurrency importance again
An example that we can use in terms of cycles is exactly the hive, in which it was worth $1 for a long time, this period was perfect for selling and when the value plummeted and reached approximately $0.30, a lot of people got discouraged, but for me it was the perfect time to acquire more hive, whether buying with hbd or posting, because this way, I was able to acquire a lot more HP for my profile. In the future, when the value rises again, all this effort will be rewarded, after all, HP is a valuable influence tool within the ecosystem.
You did well in that regard. I was also buying HIVE when it was $1 and even when it was dropping. Well until now. It's good to keep growing the HP while we can.
Yes you're right it's still a better time to acquire more hive if one have HBD. And indeed HP will be a big influence tool for everyone and the blockchain. But still expecting Hive at $1 soon...
TIME UP!!!
lol Iβm spent. These are always at 2 am after I finish work, writing a post, practicing guitar and whatever other tasksβ¦but Iβll peek in and listen for a liiiiiitle bit. Canβt help myself
Oh my, sounds like you had a full day. Good morning. It's 1am over here and I just woke up π
Hello guys, itβs nice being here today, I guess this is what we call days of marathon space showsβ¦
Good day everyone, hope you're good.
The sound is working perfectly and my guys are here, let see what the co founders have to offer us in their prospective project. What I want to hear today is each project long-term sustainability and value.
I think I've witnessed one cycle so far and that aligns with when I entered into crypto. That was $BTC's all time high in 2021. I'll always look back at that is a good time I invested in crypto. Wow, just realized I'm now 3 years in crypto
We've got the same experience and joined at almost the same time, although on my path, I had little to nothing as asset when $BTC hit it's all time high, was thrilled by the vibe around me and it gives me assurance that I'm the right place
Is still worth to have a cold wallet after that Ledger leak that is possible to get your keys ?#Question
I haven't heard or read about that Ledger leak. Was it recently?
here you can find more
https://news.bitcoin.com/ledger-faces-backlash-for-controversial-backup-tool-as-crypto-community-expresses-discontent/
Thanks for that. It's the recovery tool. They do have that feature. I personally do not use it. To me, it poses some kind of security risk.
where did you go?
This is my first time hearing about the term crypto cycle, I would love some breakdowns on what crypto cycle is all about, and thanks to alysha for the tips but I will like to hear a more detailed explanation from the nerds on space.
Crypto market cycles are the patterns of price movements that cryptocurrencies undergo over time, and understanding them is crucial for investors and traders in the cryptocurrency space. On the other hand, misunderstanding them can pose significant risks.
Anyone has a link to X spaces?
Thank you!
https://twitter.com/i/spaces/1jMKgmWLLdXJL?s=20
Thanks! π
https://twitter.com/i/spaces/1jMKgmWLLdXJL
Thanks!
You're welcome.
using Crypto cycles to build Runway for expenses is to use the narrative to your advantage. In this case some people will win and some will loose, all you need do is research on the crypto, token or whatever to know the kind of investment you are getting into.
The importance of research is enormous and regardless of the type of market(offline/online), we should make our thorough analysis and research and that's what'll help us scale through, avoid loss and take advantage of the benefits therein.
Building a financial runway with crypto cycles involves a blend of risk management and market insights. Diversify your investments wisely, stay informed about market trends, and embrace a long-term perspective to thrive in the crypto space.
hence, the more you are prepared and knowledgeable on crypto assets, you would know what to do during a dip or bull. Also, security is a top prioty in this case, so as not to loose you lr hard-earned investment in been careless with your assets
I totally agree with you, people need to have a depth knowledge of how this cycles work, that will safe one from investing at the wrong time or trying to take profit or sell off assets too at the wrong time.
QUESTION
Iβm trying to understand the whole crypto cycle stuff, are there specific amount of cycles in the crypto market because earlier, someone said he had experienced just 2 crypto cycles so does the cycle differ by each person?
If Iβm right it is called the halving season. There are many names to this cycle where there is a ATH for all crypto and ATL. That is the cycle of crypto.
Itβs a time when the market is bearish and everyone has to watch out for the bullish
season. Thatβs how a cycle is being calculated
Question
I know to be an expert one has to have a lot of years of experience. As a newbie in crypto verse, the mentality of buying low and selling high not minding the amount of time it might take, is it a good one?
Yeah I guess it's good. But you have to be careful not to buy blind. You have to make research into the crypto project you are buying into because some are just shit coins people dump after sometime. Holding your asset for long can be good
Yeah
I can classify Shiba Inu as one because a lot of people buy into it and now they are in the lost
exactly, just because they fund your project they try to monopolize it and order you around, but s2lf funded project allows you to take decisions that is necessary to make the project function properly in accordance to set goals, standards and visons
Yeah, we all know and understand that once another individual or organization funds your projects, they will start to control you on what you should do and not do, that will bridge the decentralized nature of he web3 blockchain.
Funding is very important in the whole crypto blockchain. But what makes funding have a great value is if you have vision that drive whatever mission you have. So if you have vision, funding would be an addition.
When investors outside the team building decide what to do, we just end with copies of other projects with formulas that made money, forget about making something new and find your own people
We like that blockchain is trustless, "don't trust, verify", but the most sturdy projects will combine that with trust that is built (not trust that is blindly given). I'm guessing a lot of the investment comes from people who haven't built trust with these projects over time
Sometimes seeking funding for a project can be useful but when you as a founder wants complete control of your project, you have to be self funded. That way you can decide how to run it because people that fund you aim to make profit
The ultimate idea about having a vision is an important factor that every project founder should consider at first. Make sure you have a driven-force vision where you are more concentrated on achieving them before anything else.
Absolutely! Having a clear vision is crucial for the success of any project. It serves as a guiding light, providing direction and purpose to the endeavor. When founding a project, having a well-defined vision can significantly impact its trajectory and ultimate success.
The money invested initially must be returned with the money earned from the actual construction! It's just a starting point so that you can grow and create something really valuable to be able to finance the project and pay back the investors, preferably with an expected profit or more.
That's right. They come with responsibility which means you must deliver and give value to those who support your project. At the end of the day, you are expected to enable your financers to make profit.
Ideally a project will accept funding for a specific project that has a specific time frame in mind (with some leeway), from an investor that they have built trust with over time and who actually believes in the vision of the product. Not easy to find.
To navigate the wild world of cryptocurrencies, one must have a solid understanding of crypto market cycles. Investors can make better selections by looking at past trends, using technical analysis tools, and implementing long-term investment plans.
This is really true, there is a lot of uncertainties in the crypto market space and one must DYOR before investing into any of the cryptos to avoid losses in the future. Traders should know how to manage liquidity and market fluctuations.
The decentralized nature of web3 is one the unique features that is attracting a lot of project founders onto the blockchain. Ability to make a decision based on what your audience or community likes is the best way to a successful project
How will you even know a project is right
What if the builder do a very good work just to rip people of their money.
This things happen.
OPINION
Can you people share more opinion as regards that Stages of a Crypto Market Cycle just to help user's here understand it more .
long runway vital in the crypto space.
Moving from alts & btc to stables when the cycle begins to turn, stake stables during bear markets.
Question
How many years does a crypto circle take or it's just how many times the market changes from the bear to the bull market?
create a balance between what you invest and what you keep that way you don't feel insecure about what you hold
It is really important to self fund as a founder and I believe to receive the trust of an investor in your project, one has to be able to take account of how you have managed it well yourself.
QUESTION:
What are some of the ways or strategies that a crypto investor can follow in order to avoid or minimize losses in the uncertainties and crypto fluctuations in the crypto space?
wow, that is a great approach from Khal, I love your approach and opinion
Question
How can one store a token off the internet(cold wallet)
How will you move a token from a hot wallet to a cold wallet if itβs not connected to the internet
What really is hot and cold wallet
Thanks Khal and Eric for the good discussion. The threadcast is broken for me though.