The best part is that yields on STX DeFi are high and we have at least 3 airdrops to look forward to in the near future between Zest, Bitflow and StackingDAO. Not to mention the Stacks ordinals and the ability to manage ordinals through the same wallet interface with ease. No doubt the BTC whales of this cycle that have interest in DeFi will be here this cycle. It's set to moon.
Bull, 26 y/o. Lost 320k these last 6 months. It’s been a challenge mentally to pull myself out of the head space of shoulda coulda woulda and beating myself up. I know I have lots of potential. Have 2 business that have great upside. Feeling like I am still young and can make it back 10 fold but also feel like I blew up my chances for significant wealth in my 30’s. Any advice on best ways to pull out of that mindset and move forward? I’m sure you guys have had losses / faced some set backs. Love you guys.
That's a significant amount to lose at 26, but..., you're 26 not 46 or even 36. If it bothers you every day mentally, then maybe go on an electronics free vacation somewhere quiet for 2-3 weeks and stay sober at least 80% of the nights. Those always tend to get my mind right anyway.
At least you're not forced into some Donetsk trench hiding from exploding drones right?
If you want to use your BTC in DeFi natively, this is the only place where you can do that since STX transactions are written directly to the BTC chain.
This will be the first time holders of BTC can natively deploy their bitcoin into DeFi, gain yield, lend and borrow it, etc.
Doing it on ETH is impossible without a centralized entity holding your BTC for you and issuing you a wrapped version of BTC. This is inferior for a number of security reasons. Native deployment is a game changer and unlocks a significant amount of liquidity to be used in DeFi. Income potential for the chain is gigantic.
No. After the upgrade you will simply send your BTC to a wallet address that is controlled by all of the stacks nodes. These nodes are decentralized and secured by the entirety of the btc mining network.
If you trust the btc network's security not to issue false transactions, then you can similarly trust the sBTC wallet not to be taken over by a malicious actor.
There is no centralized actor or contract involved since the STX network can directly read/write to the BTC network in any given block.
What will be the tech/equipment requirements to stack STX once the Nakamoto upgrade happens? Do you actually need to run a node? Or are the current stacking pools (like Xverse, FastPool and others) already agreeing to continue their pooling services after Nakamoto happens?
Also, what's going to happen to tokens built on STX (like CityCoins, MIA, NYC) that have mining/issuance synched with the current 10min STX blocks?
I'm a STX holder, but this is some of the stuff that isn't clear yet.
1) 1 ETH = 1 spin per week. If you can't put min 1 ETH, it's not worth it as you can't spin.
2) As BTB says, Blast is the easiest airdrop to be a part of, bc you just spin and your ETH automatically accumulates 4% yield.
3) I've been following the Blast discord group. They are still on track for allowing withdrawals in Feb and the final airdrop in May it seems. So we just got to put ETH in and spin daily. #wagmi
The best part is that yields on STX DeFi are high and we have at least 3 airdrops to look forward to in the near future between Zest, Bitflow and StackingDAO. Not to mention the Stacks ordinals and the ability to manage ordinals through the same wallet interface with ease. No doubt the BTC whales of this cycle that have interest in DeFi will be here this cycle. It's set to moon.
Seems silly not to be in STX in the current cycle
What is the requirement for airdrop? Holding stx and stacking or chain activity with zest, bitflow, stackingdao?
Chain activity on the dApps themselves.
StackingDAO is open to the public.
Bitflow is on mainnet but only open to a beta group of testers (supposed to open to the public any day now).
Zest just finished their testnet and will be going live before the Nakamoto upgrade (March-April).
You will only get the airdrops if you use the dApps on mainnet.
Pissed I sold STX at $0.70, at least still early
Does Trezor support STX? What are the options for wallet beside Ledger & hot browser wallets?
Xverse or leather mobile wallets are good ones
Bull, 26 y/o. Lost 320k these last 6 months. It’s been a challenge mentally to pull myself out of the head space of shoulda coulda woulda and beating myself up. I know I have lots of potential. Have 2 business that have great upside. Feeling like I am still young and can make it back 10 fold but also feel like I blew up my chances for significant wealth in my 30’s. Any advice on best ways to pull out of that mindset and move forward? I’m sure you guys have had losses / faced some set backs. Love you guys.
That's a significant amount to lose at 26, but..., you're 26 not 46 or even 36. If it bothers you every day mentally, then maybe go on an electronics free vacation somewhere quiet for 2-3 weeks and stay sober at least 80% of the nights. Those always tend to get my mind right anyway.
At least you're not forced into some Donetsk trench hiding from exploding drones right?
Aren't we doing Ethereum again on BTC? What is the advantage of doing this on BTC instead of Ethereum?
The advantage is the native liquidity.
If you want to use your BTC in DeFi natively, this is the only place where you can do that since STX transactions are written directly to the BTC chain.
This will be the first time holders of BTC can natively deploy their bitcoin into DeFi, gain yield, lend and borrow it, etc.
Doing it on ETH is impossible without a centralized entity holding your BTC for you and issuing you a wrapped version of BTC. This is inferior for a number of security reasons. Native deployment is a game changer and unlocks a significant amount of liquidity to be used in DeFi. Income potential for the chain is gigantic.
Dont you have to lock your BTC on a centralised contract to go up to L2 as well?
No. After the upgrade you will simply send your BTC to a wallet address that is controlled by all of the stacks nodes. These nodes are decentralized and secured by the entirety of the btc mining network.
If you trust the btc network's security not to issue false transactions, then you can similarly trust the sBTC wallet not to be taken over by a malicious actor.
There is no centralized actor or contract involved since the STX network can directly read/write to the BTC network in any given block.
BTB comment on STX vs ETH L2s as a risk play? (Know you are free rolling STX)
We haven't look at anything in 3 years we're just free rolling from years ago
Nice to still have a decent chunk of this stuff in the moonbag after that God Call a couple years ago.
What will be the tech/equipment requirements to stack STX once the Nakamoto upgrade happens? Do you actually need to run a node? Or are the current stacking pools (like Xverse, FastPool and others) already agreeing to continue their pooling services after Nakamoto happens?
Also, what's going to happen to tokens built on STX (like CityCoins, MIA, NYC) that have mining/issuance synched with the current 10min STX blocks?
I'm a STX holder, but this is some of the stuff that isn't clear yet.
Didn't the city coins collapse due to no use case?
yes, would argue a bunch of whales seeded the project and then pulled after rewards dropped significantly
Hey guys, if you guys need a BLAST Invite, here you go:
blast.io/UUZ0J
Some pointers
1) 1 ETH = 1 spin per week. If you can't put min 1 ETH, it's not worth it as you can't spin.
2) As BTB says, Blast is the easiest airdrop to be a part of, bc you just spin and your ETH automatically accumulates 4% yield.
3) I've been following the Blast discord group. They are still on track for allowing withdrawals in Feb and the final airdrop in May it seems. So we just got to put ETH in and spin daily. #wagmi
How decentralized is STX in practice? Or is the hope that the Nakamoto upgrade will improve that?