Hello everyone, your friend G. is in the house! We had some interesting 48 hours. What are our news?
- Good news for Celsius users, there is a new promo code ( TREAT ) and you can get up to 100 dollars just for borrowing money, using crypto as collateral. They will give you $50 if you borrow less than $3000, and $100 if you borrow $3000 or more. The bonus will be given before 15th of November, but you will get it for real if you still have the loan in your account at 1st of February. So, whatever you do, you need to not pay the loan in full until 01.02.2021. I have runned some numbers for the smallest loan that you can get, $500, using the maximum collateral ($2000 in crypto, 0.70% interest to be paid), and for the 2000 dollars of BTC, you will get paid around $36 in interest until 1st of February. If you take the loan for the 25% loan, with payments in Celsius token, asking for a stablecoin, you will get the $50 and an additional $14 in interest for the loaned stablecoins. So, i do the math, 50+14-36=28 extra dollars. The total interest for the 6 months will be around $3, so the total profit is 25 dollars. The more you loan, the bigger the profit, but only if you use 25% loan to value, and if you pay in Celsius. Also, i am on the Platinum level, so i made the calculations for my account. So, using optimal values, you can make a small profit.
- I do not expect much from Filecoin, given the fact that they took more than couple of years to launch their Mainnet (on 15th of October), and another controversial piece of news is bringing them on the first page of the internet. As apparently they require an outstanding number of tokens to start to mine, they where deemed unworthy, and many of the miners, including their top 5, refused to run last weekend. We are still waiting for their feedback, which was almost inexistent Monday.
- After 7 years (their words, not mine), Circles was launched, as an universal basic income app, on the blockchain, wanted to give free crypto to everyone is fast enough to register before the website crash (this really happened right after their launch). They are using Ethereum xDai sidechain, with own native token called Circle, and you may receive 100 of them if you register, increasing in value by 7% every year, but only if you recommend another 3 future members. I know, this looks very much like a Ponzi, but they are giving, not receiving, so what this would be, a reverse-Ponzi scheme, meant to make everyone reach except the project team? I was trying to register, but the server is still down as per Monday evening. Circles - Universal income experiment, if you want to try, check the link, they said they will airdrop some crypto weekly. This is my Circles profile! https://circles.garden/profile/0xFcF40564AD3C8B7f6c233E128217789d631541be .
- Check on Binance Launchpad if you have some BNB to spare, Injective Protocol is here (Find more about this here => link to myInjective protocol post).
- Coin Telegraph is telling us that the Berlin-based Room 77 bar, the first real life bussiness to use Bitcoin as payment in 2011, is closing its gates. Blame COVID19 for this? We are not so sure!
- And to end into some optimistic note, more that a million and a half of digital Chinese money were airdropped in Shenzhen, Mainland China, and as it was expected (remember UNI airdrop?) people spent most of the money in a mad shopping spree (according to the Chinese authorities around 90% was spent already. This will pave the way to the adoption of the national digital money for many other countries, if it is proven succesfull. Also, they are very centralized, and easier to track, making the countries generating the money much easier to transform in a police-state. No hard feeling.
That is all for today, G.
...try DogeWars game and get Dogecoin fighting bosses and other players.
Disclaimer: This text also can be re-published on my personal blogs, such as this one.