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Topics - Joseph Lee

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Now, before you suggest that I should Google it, I want to let you know that I have already done my online research and read some formal writings about Proof of Reserve (PoR) and its significance in the ecosystem of a crypto company. However, what I still haven't fully grasped is whether it has any impact on the price of coins (which, let's be honest, is what we all really care about).

To provide some context, my interest in this topic was piqued when I noticed bitget trending on Twitter today because their PoR has reportedly increased by around 176%, and many people there seem to be thrilled about it. I simply want to understand the underlying reason behind all this excitement. Does it have any influence on the tokens listed on the cryptocurrency exchange or the BGB token itself?

2
The dip this week made me realise that I've been too narrow-minded in my dealings in this industry. For the past coupled weeks, I had been so fixated on trading and trying to find the next good pump that I overexposed myself and take heavy hits whenever dips happen. This week'sdip hit harder than others, and lessons have been learned. Now it's time for me to try my hands and luck in other areas while I wait for a correction. For the first time in a while, I'm in search of random events, contests and campaigns hosted by any reputable companies. I'd be happy if you could share some here.

3
Cryptocurrency discussions / Again, Don't Ignore Security
« on: April 30, 2024, 03:22:15 PM »
In 2023, scammers managed to steal a staggering $4 billion in crypto. Now let's do our best to ensure that when they tally up the numbers for 2024, you won't be a part of that statistic.

Based on my firsthand experience, there is a tendency to disregard basic security practices when the market is generating profits and FOMO sets in. It's astonishing how our minds can become consumed during these times, leading us to jump from one protocol or website to another in search of the next major opportinity. This post serves as a friendly reminder that while pursuing such, we must not forget to:

- Never reuse passwords
- Stop downloading sketchy content from the internet
- Consider using hardware wallets for enhanced security
- Safely store away seed phrases
- Avoid visiting suspicious websites
- Verify contracts in the explorer

These measures may seem elementary, yet it is astounding how easily they can be disregarded when one is fixated on chasing the "next 100x" gain.

4
Just last week, I came across a prominent influencer who emphasized the significance of taking risks in the realm of crypto and seizing any "opportunity" before it becomes widely known. Interestingly enough, he specifically highlighted contract-based trading, also known as pre-market trading, as a viable approach for entering the market of pre-launched or anticipated tokens, allowing traders to engage with them before they go live or become listed on exchanges.

Three days ago, I stumbled upon Meson Network ($MSN) announcing the availability of their token in the pre-market phase. This presents me with a chance to get in early on a project that I have followed and believed in for quite some time. But I'm new to this so still a bit sceptical.

Open to hearing your thoughts on this trading strategy and any cautionary advice you may have based on your own experiences with it.

5
Just as we have seen happen within different ecosystems in past bullish cycles, I believe we are finally witnessing the emergence of the next phase of development within the memecoin industry. Like it happened with GameFi starting to introduce NFTs, and DeFi doing something similar, many meme projects are now introducing innovative adjustments and enhancements that enable them to offer services across various industries, transcending their initial role as mere amusement-themed tokens.

As of late, we have observed a surge in meme projects embracing new initiatives that grant them a certain degree of utility. For instance, CatGPT ($catgpt) has incorporated AI technology, enabling them to create a functional AI chatbot, while Calcium ($CAL) seamlessly integrates both meme culture and DeFi technology.

Personally, I find this progression highly favorable, as it signifies the gateway to a new era where virtually every crypto project strives to provide some form of utility, no matter how modest it may be.

6
Meme Coins / Avoiding Fake Memecoins Is Becoming More Difficult
« on: April 18, 2024, 06:12:11 PM »
Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

Lately I've been starting wonder if trading memecoins on these unregulated dexs is actually worth the risk. Yes I agree there are upsides to dex trading, but the potential negatives are also quite high. I tried a different strategy in the days building up to this latest dip and traded only cex-listed memecoins. I did this on different cex platforms and all seemed to go smoothly. Even the fees didn't give as much problem as I thought they would. I'm now wondering if this is the way to go frm here.
What do you think?

7
Incentivised Posting / Shill / Maybe Launchpads Aren't Worth It Yet
« on: March 28, 2024, 03:33:48 PM »
The bull market is here and I'm wondering why investors are ignoring IDO launchpads. Maybe at the moment, they're not exactly the most bullish, but it's easy to see the potential they carry in the long run.  Aside the bigger launchpads from top projects like Binance, Polkastarter, GameFi and Bitget, there are a lot of smaller sized ones like Decubate still doing pretty well in this bull market.

So far, only institutional investors seem to show that much interest in these launchpads and invest in them. Otherwise they're pretty much ignored by retailers. Personally, I believe the sector isn't getting enough attention simply because of the craze for massive gains in memecoins and the rest. Hopefully  this changes soon and we get to see more financial inflow some of these sectors that have some actual utility.

8
Solana Forum / How long will the current Solana craze continue?
« on: March 20, 2024, 08:45:37 AM »
 
The hype is currently centered around Sol chain. Not only are we witnessing a significant increase in the number of developers utilizing the chain, but we are also observing a substantial surge in activity levels. Almost everyone is looking to be part of this trend. It's no wonder that major platforms like Binance, KuCoin, and Bybit are hosting various Solana-themed events. I recently stumbled upon one organized by Bitget highlighting 5 major tokens on the chain - $Bome, $Jto, $Jup, $Ponk, and of course $Sol itself.

It's uncertain how long this heightened activity will last, but one thing is certain - the resulting momentum is just what the crypto community currently needs. Just make sure to stay sharp and ensure security always folks.

May the force be with you.

9
General Discussion / What makes a narrative gain wider adoption?
« on: March 18, 2024, 04:46:21 PM »
What makes a narrative become more adopted? Is it just marketing or usecase? Over the years I've seen some absurd narratives take center stage and other useful ones remain largely unknown to most of the crypto space. Take for instance liquid staking. It has gained more popularity over the past year or so. But I'm still yet to see it as mainstream as it should be, considering it's many pros. So far, it is only been widely used by top centralised exchanges with only a handful of smaller projects like EtherFi having the feature on their platforms.

I wouldn't want to go into other narratives that get attention when, based on what usecases they actually provide, really shouldn't. This is because I dont want to be creating any kind of FUD. But I'm curious about what you would say actually makes a narrative get more mainstream attention.

10
First and foremost, I believe that this bull market will likely be the final massive one in the crypto. At this point, I think you will agree with me that regulation is almost unavoidable.

Crypto will endure, but returns are expected to decline significantly as we encounter future bull markets.

The sad reality is, despite this hyper-growth we're about to experiemce this term, many will still struggle to profit. Do your best to not be one of such people and may the force be with you.

11
Made some nice gains trading SOL this past week and have rotated everything out. I am now positioned in some of the hottest memecoins right now. At this point in time, I'm sure we all know that memecoins are pumping really hard, hence my intention to place more focus on them. But more than just trading the dog or cat themed tokens, I intend to join any contests that could make this new phase of trading more exciting and profitable for me.

At the moment, the only one I have found that suits my interest is a "meme mania" event hosted by bitget that basically involves trading top memecoins on their platform for a chance to win some cash prices. However, I'd still like to know if there's more out there.

I know many would tag this as my selfishness being at play, but I'd rather be a bit selfish in efforts this period than let another bull market slip by without making something good off it. So folks, pls feel free to recommend a few events for me to try my hands on pls.

12
Crypto gaming (GameFi) / Crypto Gaming on The Rise Again
« on: February 06, 2024, 03:04:32 PM »
If you were to ask five random crypto enthusiasts today which narratives they are bullish on for the next bull market, at least one of them would mention GameFi. This is based on my personal experiences last week when I heard up to three mentions of the gaming sector as a promising one.

Out of curiosity, I conducted some research and discovered several interesting facts about GameFi. One notable finding was the recent improvement in the actual gameplay of crypto gaming projects. One project was being talked about a lot when it came to this and that was Dynasty Wars (DWARS), a GameFi and NFT project built on the Solana chain. Essentially, it offers gaming avatars as NFTs that can be used in battle conquests.

I have started acquiring NFTs in view of testing the game myself, but I wanted to share this information first. I would love to hear your thoughts on GameFi as a whole and if you have encountered DWARS, I am interested in knowing your opinion of the project."

13
Just saw the new Bitget partnership aimed at encouraging more institutional investment in crypto. Basically, they're collaborating with COBO to provide a technology that facilitates off-exchange storage while also allowing for regular trading on the CEX. In other words, users can trade without keeping their crypto on Bitget's platform. Quite convenient I would say, especially at a time like this when security is of utmost concern whenever dealing with CEXs.

Any thoughts on this? How much of a change do you think it could make?

14
Cryptocurrency discussions / Thoughts on Solving Layer 1 and 2 problems?
« on: September 08, 2023, 02:50:41 PM »
Lots of talk about Layer 1 and 2 networks lately, especially regarding improvements on scalability and stability. I've noticed a few try to solve the problem in the past, but atm Nvir is the most fascinating in my opinion. Of course there may be others I don't know and I'll like suggestions for my weekend research. Also would like to hear thoughts on Nvir and their ecosystem. Is it entirely beneficial to us regular users or are there more downsides to it than upsides?

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