@JimSterling My daughter playing this now, I'm sitting here and just heard you mentioned, told her to go back so I could read it and said 'oh I went to school with her' x
@Ozaryk@Fallout@slenderchris228 I feel your pain. I've been boosting score the last couple days thinking I had another week or two and would definitely get there... very annoying, short notice is not good, short season even worse.
@KabraxFX @Wallstreet_Wolv @patrickegan3@AutisticHODL @weslippman Diversification is definitely needed too, going all-in on one or two assets, be it property, crypto, gold, stocks/shares etc is not a wise-move realistically.
@KabraxFX @Wallstreet_Wolv @patrickegan3@AutisticHODL @weslippman Different take, say you used BTC to get a loan when BTC was at $1m and you borrowed $200k, and then while you slept the markets literally died and BTC went to $20k... you would have "sold yours" at $200k... you might have $200k (that you borrowed) and could buy more BTC
@Wallstreet_Wolv @patrickegan3@AutisticHODL @weslippman The risks are also somewhat outweighed by the reward, if you are only using 10 ETH to start with maybe not worth it, if you're using 100 or 1000 then maybe it is (though there are also other / better options outside of AAVE too)
@Wallstreet_Wolv @patrickegan3@AutisticHODL @weslippman liquidation risk is reduced to near zero. The only things you REALYL have to pay attention to is the supply and borrow rates, since they are variable, you could find the supply rate drops and borrow rate increases, thereby making it a nett loss not profit.
It was an honour to be invited to the House of Lords for the Digital Global Asset Exchanges Summit last week
I got to meet some fantastic people there and had some great conversations with other attendees
Having been in the space since 2013 it's great to see things progressing!
@Wallstreet_Wolv @patrickegan3@AutisticHODL @weslippman but that is only on the amount you borrowed (so in this case it would be 0.28% paid on the 12 borrowed (0.0336 interest paid)... Nett would be 0.3734 ETH
(this is based on current rates on AAVE, and as this is mainnet, you'd pay more in gas costs probably)
@Wallstreet_Wolv @patrickegan3@AutisticHODL @weslippman Usually ~4 (3-5 depending on the network, costs of swaps, size etc).
You go from having an initial 10 ETH earning 1.85% to having say 22 ETH earning 1.85%
10 = 0.185 interest
22 = 0.407 interest
Of course you also need to take into account the increased borrow rate