Crypto Guides
Our next guide is the...
- Avalanche guide
- Introduction to Avalanche crypto (AVAX) - Dane
- How does Avalanche crypto work?
- What is Avalanche crypto (AVAX) used for?
- What is Avalanche's Pangolin DEX? - Dane
- Avalanche (AVAX) vs Ethereum (ETH)
- Avalanche crypto (AVAX) pros and cons
- Should I buy Avalanche crypto (AVAX) in 2021?
Avalanche (AVAX) is always trending on CoinGecko so let's just knock it out of the way.
I just need the following so I can pay out the contributors:
- How does Polkadot work? - @finguru
- Monero (XMR) pros and cons - @tfranzini
Posted Using LeoFinance Beta
I'd love to take
If anyone has not claimed it :)
They're all yours :)
Posted Using LeoFinance Beta
I'll cover:
How does Avalanche crypto work?
and
Avalanche Crypto (AVAX) Pros and Cons.
That is unless someone else really wants them badly.
Posted Using LeoFinance Beta
Cheers Kevin.
Posted Using LeoFinance Beta
Coming tomorrow, Dane. It's complex. Still getting my head around a few things.
Posted Using LeoFinance Beta
I had Dot for a while then I sold it but I think it has a lot of potential we will see the next few times.
I still have DOT. Not sure why but it is way up from where I invested so HODLing.
Posted Using LeoFinance Beta
I think you're doing well I'm in other investments now but I think Dot is a great coin and a good investment.
Hopefully. They need to step up a little in my humble opinion because I don't know many DApps building on it.
Posted Using LeoFinance Beta
Yes, at the time I sell to bet on m or it's new, still with low values but with a good project.
Yes. Even though it's a bit risky but you can take that chance with DOT.
Posted Using LeoFinance Beta
All good Fing. Just checking in ;)
Posted Using LeoFinance Beta
Don't worry. I got this. 😎
Posted Using LeoFinance Beta
Maybe next go-around we may want to take a look at PulseChain. Seems to be some buzz about it going on. Closely tied to the founder of $HEX, Richard Heart. I have been doing some research at @dagger212's urging.
I do have a very small amount of ETH and ERC-20 shit-coins so; taking a look at this new project .
Posted Using LeoFinance Beta
Not sure what that is but I've been hearing stuff about it so it could be a good move indeed
Posted Using LeoFinance Beta
HEX folksYes. It does seem that @dagger212 is very bullish on this project. are really big on their coin and it looks like it is paying off from the looks of the @coingecko chart I shared.
Posted Using LeoFinance Beta
The ETH won't matter much but the ERC20s may get duplicated if they're in wallets for which you hold the keys, i.e. metamask.
HEX is basically CDs on the blockchain. Buy HEX, stake it for 1-5555 days, earn interest over that timeframe, and then when it comes due, end the stake and mint the HEX plus interest back into your account. The longer you stake, the higher the interest you are paid. 5555 (@15 yrs) pays around 40%. So if you staked 10,000 HEX, in 15 years you'd get roughly another 60,000 HEX when you ended your stake plus your principle. So 10k could turn into 70k. Meanwhile, the price of HEX could appreciate (and has) while you're locked up so by the time you come out, it could be worth substantially more than when you put in.
People who end their stakes early get penalized for going back on their word and much of the interest they've earned gets paid to the stakers who haven't gone back on their word. The idea is to build a ladder of different stake lengths so that you can always be cashing them out along the way. The interest you are paid for shorter stakes is obviously much less, but it's still waaay better than you can get at a bank. Like one year stakes can pay around 15%. And again, that doesn't include price appreciation which has been crazy to say the least and just keeps going.
The reason PulseChain is happening is because you have to pay gas fees to begin and end your stakes since HEX is an ERC20 token. Richard Heart got tired of watching people staking small amounts of HEX having to basically pay large percentages of their gains in gas fees, so he decided to do something about it.
He's forking the entire Ethereum chain, ERC20's and all, and creating pERC20's (Pulse ERC20s) on the new chain. He did a sacrifice phase where people sent literally millions of dollars of coins/tokens that they will never have access to again, including $27M+ to a charity doing research to cure aging. In doing this, those people will receive 10,000 PULSE for every dollar sacrificed. PULSE will be the gas on the PulseChain. There will literally be over 1 trillion of these tokens valued at zero when they are distributed. Price discovery will happen after that but, it's a POS network rather than POW so fees will literally be in pennies or even less.
Once it starts running, the ERC20s will be duplicated (including any HEX and/or HEX stakes you have) onto the new chain and then price discovery will happen from there. It's going to be very interesting since transacting on PULSE will be almost free compared to transacting on ETH. It will also be cheaper to build on the chain and there will be a built in fanatical base of users right out of the gate.
In my opinion, it was worth gambling on and still is. I just added three more stakes yesterday and plan on adding a few more over the coming weeks. At some point there will be a snapshot taken of the ETH chain and most of the ERC20's people have NOT ON CENTRALIZED EXCHANGES will be copied onto the PulseChain when it goes live. Some shit-coins will not be copied but most will. The big thing though is that your stakes will be copied. So, for instance, if you put $1000 into HEX and staked it for 5 years, when the new Pulsechain comes out, you'll have a $1000 5 year stake on pHEX as well. If Pulse ends up failing, which it could (although I don't think it will), you've lost nothing. But if it works....you just doubled your money PLUS the price appreciation. The numbers get pretty nuts.
I'd recommend listening to a few of Richard Heart's YouTube videos. The guy is a little arrogant but...he's been nothing but right for a long time.
Add another 1 comment onto my LMT total, please. lol
Posted Using LeoFinance Beta
Hell, this comment would be a post! Copy and post and @hivewatchers be damned. 😂
Posted Using LeoFinance Beta
Something is definitely going on with this $HEX. Is it tied to the PulseChain project? Hype? Only speculators know for sure!
Clicking the image above will take you to @coingecko's site
Posted Using LeoFinance Beta
It's both. There will be a snapshot coming before the Pulsechain goes live and any HEX you own or have staked at the time will be duplicated on the new chain.
Posted Using LeoFinance Beta
Interesting and it's worth a look for sure
Posted Using LeoFinance Beta
I can cover: Avalanche crypto (AVAX) pros and cons
but that would be tomorrow. Is that okay?
Posted Using LeoFinance Beta
That would be great.
Looking forward to seeing your post :)
Posted Using LeoFinance Beta
A little behind schedule, sorry! I'll try to get it done over the weekend!
Posted Using LeoFinance Beta
All good man, just checking in :)
Posted Using LeoFinance Beta
And I have no freaking idea about Avalanche. Now I will. 😂
Posted Using LeoFinance Beta