Walrus' Bitcoin Thread

[walrus]

I find this very interesting. I have three coins that now pay interest. One is called DAI which is a stable coin, pays 2% apy. The other is ALGO, which I got for free in an airdrop, that pays 4%apy. Now ethereum, which is the second biggest coin by market cap can be staked at 6% apy. Now the interest is payed in the particular coin so you gotta take that into consideration and the value on these things, except DAI can be all over the place but the fact that some cryptos actually pay interest is quite fascinating. Doesn’t mean it can’t go to shit, doesn't mean it is a safe thing just interesting seeing what these things do. I did have to lock up some of my eth to get the 6% but since all I do is hold it to go along for the ride I really don’t care. I always half expect the shit to go belly up any minute so I’m not overly concerned at any given moment

Silvio Micali up there in Massachusettes came up with that...from what I know Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Its SUPPOSED to have the design so that there are very much lower transaction fees, as well as no mining I guess kind of similar to Bitcoin's energy-intensive process. The cool part is that it is based on a "permissionless pure proof-of-stake blockchain protocol." Silvio came up with a beauty on this one. And at a million transactions a day it is surely on fire. He's one of the best crypto kings in the world. Thats what they churn out up there at MIT.

Ha ha I see you right. I didn’t even know that. Got some free in November 2020 and I was surprised how well it has done. My uncle went to MIT. I wish I had picked up a little more back then but so many of these are “shitcoins” that crash and burn. There are a handful that are well established but even they are all over the place. Everyday though I’m getting more Algo, granted it’s only 2% apy but it’s been consistent and it didn’t cost me anything. Shit wait DAI pays 2% I think Algo is 4 I confused myself, not hard to do.

right, Algo is 4

No actually I looked it’s 6%. Here is the fucked up thing. I’ve had the shit for half a year. Like I said it was free. Because it was free I put it aside and forgot about it. Last month for some reason I was checking it out and noticed an Apy% alert. All I had to do was go into settings and push one button to activate it. All that time I had it sitting in a wallet could have been picking up some yield. It’s not the big a deal it’s a very small amount just a lesson you should look at things a little close when you get them. Interesting stuff.