Reddit Posts
Basilisk a go to Dex and NFT marketplace on Kusama.
Helping the above average John guy understand the Defi space : Yield Farming, Liquidity Mining, Airdrops, Initial DEX Offerings(IDO), Initial Bonding Curve Offering (IBCO), Liquidity Bootstrapping Pool (LBP), Initial Farm Offering (IFO) and the associated risks
BTC as a good store of value. In what all currencies has BTC hit its ATH value this year so far (2023)?
People who think banks should still be an option didn't live in a country where banks went in crisis.
Inflation in Lebanon is over 200%. How the crypto adoption is here.
Travelling shortly and wished Bitcoin was more accepted globally.
WOOF Trades Positively as Bulls Targets 1 Cent Next
Towards a self-sovereign monetary future with crypto (my article on how crypto is the final step when it comes to money)
Snek Shipooor (Update on LBP + NFT marketplace + liquidity mining)
Klex's Token LBP is now live! Klex is Klaytn's #1 Portfolio Rebalancer and AMM.
Mentions
Yeah I just feel like w/ an LBP starting at 99% Token 1% Stable due to supply demand the curve will floor after maybe 60 hours. After this LBP participants can dump on public sale, also giving another entry opp. Those who buy at top of an LBP are usually noobs or don’t get supply demand curves
I was tempted to not reply since you can't even type the name correctly but let's give it a try. Mistcoin is the oldest token on ethereum, you can't deny that and anybody will. It was rediscovered in 2021 like other NFTs (call it Mooncats or Etheria) but even that being considered, Mistcoin is the only smart contract aside of the ETH Multisig with a TX every year since 2015. Fabian is one of the whales, it's covered in the FAQ that you didn't read, but if you think that an ETH OG dead need money... c'mon. On top of that, Fabian donated 50k to seed the LBP pool on Fjord, that's the first spike in the chart. Again, you are looking to a twitter account which was created back in the past by a community member, all the people supporting the project are volunteers, so no expect something "official". About the price action, after 4 years of DeFi, it still amazes me that I have to explain how liquidity affect the price. From late 2022 to March 2024 there was barely ETH in the pool, I remember looking once like 2 months ago and seeing 3E in the pool. After the LBP, the LP increased heavily, but it's still not super liquid, so that explains a lot of the price action. Anyway, it's funny that for a 8y old collectible you are looking to the 1w price chart, and calling pnd to some spikes produced by degens and omitting that it's trading x10 higher than its lows. Study collectibles, study history, study timestamps
Before I explain anything, I need you to spend 30 minutes watching an animation. ​ [https://www.youtube.com/watch?v=mII9NZ8MMVM](https://www.youtube.com/watch?v=mII9NZ8MMVM) ​ Bitcoin is not controlled by any federal reserve. Does not change it's inflation rate. And when speculators have all run out of money, will become a viable currency. ​ After you watch that video, I want you to google about the currency policies in Zimbabwe, Venezuela, Lebanon and Argentina. Nations where the local currency has collapsed more than 90% at times. Holding bitcoin during a crash is probably preferable than holding Lebanese pounds after their devaluation. The LBP went from 1 USD to 1500 LBP to 1 USD to 15000 LBP official rate but 1 USD to 89000 LBP real street rate. https://www.reuters.com/world/middle-east/economy-worsens-lebanese-juggle-dizzying-rates-devalued-pound-2023-03-19/ Bitcoin also solves the need for banks. You store your own currency. And no nation in this planet can seize it. You cannot be sanctioned. No hostile government can ever take your hard earned money. ​ But at the same time, you money can move to any nation on this planet. There is no need to declare bitcoin on the airplane when you carry large amounts. You travel and move your crypto to a local exchange for local currency. You could hire remote workers in the other corner of the planet and pay them in bitcoin. Of course, notice how none of the points I have presented have anything to do with the value of 1 BTC. BTC may reach adoption at 1 BTC = 150k USD or 1 BTC = 0.50 USD. Nobody knows what the true value of bitcoin will be when it reaches equilibrium. The value of BTC in USD is irrelevant to BTC Adoption. Just like the value of Argentinian peso doesn't care for the value of 1 USD to ARS because people in Argentina use ARS. ​ I hope that helps. Dont ask me weird questions because I dont know lol.
1: BTC (3x) 2: DOT (5x) 3: LBP (25x) - I feel this coin really does deserve more limelight in the next bull. Especially if it starts launching new tokens weekly.
Rose is great its on my “list” Havent heard of LBP
Ok two coins I want opinions on. Rose - Oasis network. I’ve only recently heard about this but looking into it and using it boggles my mind why nobody talks about it. Why? Anyways, I’ve bought a bunch. LBP - Launchblock. Got involved a few months ago, tier 4 member and staker. Launches since I’ve joined have all been successful, the members involved seem to love it, just not very well known. I think this is an easy gainer with its low market cap and actual usecase potential. Thoughts?
I’m telling you. Launchblock $LBP is going to be big this bull run.
Well… At least my LBP Launchblock is pumping 😂
Holy hell, I’ve 5xd my money I put into LBP in a little over a month. Best bet I’ve ever made. At first I thought it was a gimmick but I enjoyed my first token sale/ airdrop yesterday, was quite exciting. Let’s just see what my airdrop looks like haha
Anyone looked into Launchblock LBP lately? Seems like it’s doing well and ‘could’ be a fruitful project
3 years ago, one dollar was equivalent to 1 thousand and 500 hundred lebanese lira ( LBP ). Now, one dollar is equivalent to 100k lebanese lira
But that means it as to be a very solid project yea, before you participate in their LBP
Word or advice,don't look at google rates they are incorrect especially for countries with hyperinflation and financial crisis. Lebanese Pound (LBP) 1 Bitcoin = 3,904,338,057 LBP March 21 2023
We get 2 hours of government electricity per day, everyone has private generators that cost much more.... 3 years ago 1USD was 1500 lbp. Today 1 USD is 98000 LBP.
When I flush the toilet it never comes back up. LBP is the shit in this scenario.
This shit is fake. 1$ is like 100k LBP, not 15k. The government does something to not make it look as bad for the outsiders.
Lebanon current exchage rate (black market): 93,300LBP/1$
As a fellow Lebanese, a lot of the crisis was a Ponzi scheme run by the commercial banks that went on for around 30 years. Banks were offering interest rates om LBP and USD deposits as high as 25% at one point (which is insane by any investing metric) along with a pegged exchange rate of $1 = 1,500 LBP (you can think of 1,500 LBP as 1.5, the zeros are a bit redundant). And after the major investors pulled out, the Ponzi scheme began collapsing around late 2019
Lebanon's LBP currency ( 2019 )
I just got back from Lebanon. Their inflation went from 120 - 260% in the last 2ish months. The official exchange is 15,000 LBP to 1 USD but the black market is around 100,000 LBP to 1 USD. Everything's paid in cash so everyone is walking around the streets counting envelopes of cash. Pretty sad.
tldr; HydraDX is looking forward to Q2 2023 and beyond on how to deploy the remainder of the POL funds sourced from the LBP. Referendum #43 has now been passed following an active community discussion. The key list of actions for the diversification and deployment of the remaining liquidity are as follows: Buy 1,000,000 DAI worth of HDX. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Where can you exchange btc to LBP?
Oh let me tell you , people actually did that! I know people that were so happy having more LBP at the very beginning,oh look i just doubled by LBP "yey" .
Lebanese here, our currency went from being 1 USD = 1500 LBP to 1 USD = 100,000 LBP :')
You’re wrong. The current LBPUSD rate (on TradingView, which has accurate rates) is 0.000063, making the cost of bitcoin ~428.5 million LBP, which is what this chart represents. It’s best to assume that *you* made the error rather than the software and try to determine where you went wrong in the calculation.
This chart is not accurate Google calculates its BTC to LBP exchange rate by going from BTC to USD to LBP Google had a wildly incorrect LBP exchange rate for almost the whole chart, still the official rate from pre-crisis, and still has an incorrect LBP exchange rate because they use the "new" official rate which is about 15,000 - the actual rate is about 100,000 You need to make the chart yourself, but it would not look like this
Oh no. I’m not from Lebanon. Lebanon has devalued its currency by around 4,000% last I heard. Their exchange rate went from 1500 LBP/USD to around 60,000-80,000 LBP/USD. Though that’s obv the black market rate. Lebanese banks are still operating at 15,000 LBP/USD, despite all goods and services being priced at 60k-80k.
tldr; HydraDX is asking the community to repurpose a portion of the LBP funds to help us finance development of the HydraDX protocol during the upcoming two years. The funds would cover the costs for research, development, infrastructure or marketing (if needed). Some of the funds would also be used to pay for audits - a very necessary expenditure. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
Check the BTC/LBP price chart if you're not sure what OP is trying to say.
Yes, this has happened for all currencies against LBP, not sure what it has to do with BTC as the graph is the same for any fiat currency due to the 90% devaluation of LBP
Did the price of regular things remain unaffected? Like rent, electricity, food etc? Did your rent go from like 50k LBP to 500K LBP?
This is the official rate which was at LBP 1500 :1 USD. Meanwhile, black market rate is trading at LBP 60k : USD 1. The official rate getting devalued means higher cost of goods considering import taxes will now be paid at a much higher price.
Central bank decides how much of people's forex deposits they are allowed to withdraw. If you had $1000 in a bank previously, the central bank can tell you "oops, if you want to withdraw, well allow it, but it's only worth only $100", based on the exchange rate between $ and Lebanese Pounds (LBP).
> NB: As of February 1, 2022 > Sayrafa rate will be used for all Fresh and all international cards payments including POS, E-Commerce and ATM withdrawals. Bit old news. > Banque du Liban Sayrafa rate for January 25, 2023 > Sayrafa rate : 38,000 LBP/USD
Its true but its also not true. Back in the days good ICO projects had also investors (For example Binance that had investors and also did ICO launch), its what now some projects call as LBP that let you buy tokens at early stage and they are unlock fast vs investors. Those projects mentioned will have Airdrop that is giving free $$ to thousands of people, probably 99% will sell those tokens, meaning they dont care to be investors and bring value to projects but rather do some quick $$ If you have money and you work around for some time you can be investor in any project, just that everyone in here are plebs and dont know how to.
2 hours after my main comment about lebanon the rate of the $ has went up again and 1$ is now equal to 61 000 LBP and yet no one is saying anything or doing anything 3 years ago people took to the streets over a story about adding 2$ tax to whatsapp.
Been in Lebanon very recently and can confirm bank runs constantly all over Beirut.. as little as it may be worth, it's still yours and you will get it. I even kept a million LBP just in case they make Lebanon "great again"
tldr; HydraDX is planning to launch the Omnipool with a TVL of $100,000 spread among a basket of 3 assets: HDX, DAI, DOT, and LBP. The plan is to start with a few reliable assets and limited liquidity, both of which will be later expanded. The LBP event from March 2021 helped us raise 22,473,287 DAI of protocol owned liquidity (POL). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Well, not really. When you turn the moons into Fiat, you can go to certain Western Unio locations that exchange crypto with dollars. Then you use the dollars and either keep them with you or exchange them for LBP according to the daily exchange rate. Basically Lebanon, holding dollars, and the LBP is like futures on Binance. Risky!
Personally I use my moons to help pay some of my tuition or just use it as some sort of allowance. I can’t pressure my dad that much especially the fact that his work is done in LBP. But hey man, cheers. We’re surviving!
Lebanese person here. Long story short, we use crypto to pay off the struggle. Personally moons and this subreddit help me immensely. A 1$ which is 10 moons is equivalent to 40,000 LBP as of this moment. To put things into perspective, a $ used to 1,500 LBP.
We can only hope when this government falls, and I think it's a case of when not if, the next incumbents look to commodities as, at least, a partial backer of whatever replaces LBP. Alas, I feel, and fear, it'll be straight up USD. At least in crypto we make some sort of attempt to reinforce the doctrine/mantra of 'not your keys not your crypto'. Literally nobody tells you that you succeed ownership of any value that you deposit in a bank though.
our currency LBP was pegged the USA and it did a full terra luna, people lost so so so so much in an already devastated country, an ak and some threats will still get you some of your money back though, they wont even give you the full amount even when theyre under threat thats how greedy they are lmao
Alright! Basilisk just wont a new lease on the Kusama relay chain, and thus, is a parachain for one more year. Next up : improvement of the AMM, development of the LBP launchpad feature, then NFTs. awesssssome
tldr; Basilisk is set to launch the first two Snek Swap pools on Wednesday. The first two pools will be bootstrapped with 500M BSX (0.5% of the supply provided from the allocation for the LBP), and $11,111 worth of aUSD/KSM (provided by the team). The remaining 4B BSX will be minted to the Basilisk Treasury. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; HydraDX has completed the migration to a Polkadot parachain. All HDX balances have been migrated to the parachain storage. The distribution of HDX bonus to Basilisk crowdloaners has also been completed. Hydra heads who had participated in the HydraDX LBP event, or who had earned HDX by supporting the protocol in other ways, now own an equal share of the Basilisk chain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I don't know if the market is super tiny. At the end of what was called the LBP there was a valuation for tokens, I suggest you read the other articles of the blog (0.002 USD / token) but they were not tradable yet. The project got delayed for several reasons but now that we reached this step, transfers will be enabled soon, so people will probably start trading OTC. The ultimate goal of HydraDX is to launch as a AMM Dex. so it'll be traded there. It'll be relatively low market cap I guess.
HydraDX finally migrated its Snakenet chain to its Polkadot parachain. Crowdloan rewards have been distributed, and LBP amounts have been tripled. Feel free to check!
tldr; Basilisk is planning to launch BSX with an LBP event for the launch of Basilisk v1, and to unlock BSX transfers right after that. However, against the background of the general macroeconomic situation, we no longer believe that this strategy is in the best interest of our stakeholders. Instead, we suggest to unfreeze transfers and perform the launch by initializing 2 BSX XYK pools. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
ICO’s are 2rd gen and subject to securities scrutiny; airdrops and LBP’s are the future. But as to the edit it wasn’t anything malicious just an accident early publish you didn’t think I’d go from essay’s to one liners lol 😂 I’m trying to explain that the distribution of token ownership **and** the inability for retail to exact ownership over that token (no governance module) there’s a big gap of incentives for the dev’s who own approximately 15% within their own wallets. The point I was trying to make to clear the air and get back on track is that Chainlink is dropping the ball by failing to iterate fast enough. They’re going to lose market share without necessarily losing token value it doesn’t mean the same thing. What I think will be the best thing for Chainlink is when they solve the lite client problem that comes with being written primarily in solidity. The golang repertoire that is built for LINK is primed for to intermingle with cosmwasm and its just a short while before LINK regains market share *after* becoming IBC native. I’m bullish LINK long term but think they’re going to keep losing market share and own other oracles as a consequence (IBC native ones like BAND and FET specifically) LINK will continue to fumble the ball on tokenomics because they’re built on 2nd gen tech and need DAO’s and governance modules to iterate rapid enough to stay leading technology
If a stablecoin is for example, tied to the USD, is the price not changing in comparison to other currencies? Does the value of USD not lower and rise compared to other currencies around the world? Isn't holding any FIAT currency essentially an investment (although a very poor one?) Putting money into a stable coin based on USD is the same thing as betting the USD will have more value than the Euro or Won next week. I know people in Lebanon who spent LBP into a stablecoin as an investment, and they were right to do so. Within a year LBP inflated 90%.
Most of my portfolio is ETH as well. The game with low caps and mid caps is quite tricky. However, I've been making very good returns with Spool lately in its staking program. It makes much more sense with voSpool I'm accruing. To be honest, I didn't expect to make such big impressions in DeFi when I was buying it during its LBP last year. Another one is the Freshcut IDO going live at Polkastarter in the next couple of days. I've got an allocation to buy and I'm pretty much bullish on it
You should do a dive into Spool. I've been interested in it since its LBP that took place last year. My interest in it soared recently after its product launch was announced last week. Talking about making DeFi experience in yield farming easy, it's the answer for it and I'm sure the product it brings will change a lot of things about the way decentralized finance is perceived.
I'd rather buy lower caps. I've made more buying low caps and midcaps than buying the top 10. Most especially when I get to buy in presales. A good example is Spool which I got during its LBP sometimes last year. Now, its product launch is happening and while everyone is struggling with the inconsistent market, I'm getting a big pay off. Another example is the auctions at Polkadot. ASTR and ACA were among the biggest movers this past week and only those who staked DOT got the big benefits.
Sold Spool a few days after its LBP last year. Now checking my portfolio last week, I realized it would have been among the few altcoins with a green. Probably would have made up for all the shitcoins I had accumulated
The official one is 1500LBP/1 USD while you can exchange it on exchanges for about 24000 LBP/1usd, taking in consideration the banks give on 3900LBp/ 1usd ( I think they updated to 8000Lbp/ 1usd but with limitation on how much you can withdraw mostly couple hundred dollars on that rate)
I think the best plan is to just stake them to avoid panic selling. Staking kind of forces your hands away even when flimsy reasons to sell crowds your head or after a small pump. I'm still regretting in a big way for selling my SPOOL DAO after participating in its LBP last year. Now, the token stakers are enjoying the moment of their lives after the project released its product this past week. If I had staked then, I probably will be up by about 100x. Instead, I made the dumb step to sell after a 15% rise.
HydraDX officially became a parachain on Polkadot and started producing blocks from today! Basilisk, their sister project on Kusama is finally launching a testnet of their main feature, a LBP (liquidity bootstrap protocol), next week. 50 lucky people have been drafted for the task. Another round of rewarded testing will be open for everyone right after, so keep posted.