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+--- Thread: Cryptocurrency (/showthread.php?tid=3161)
RE: Cryptocurrency - Michigan Swamp Buck - 12-14-2025
(12-14-2025, 12:20 AM)Ninurta Wrote: Does that mean the government has to pay you royalties if they seize your digital assets? I ask because I can't imagine any government or corporation paying any attention at all to any such law.
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Interesting question that I hadn't thought about. That may go on without them noticing, esp. if it is pennies.
RE: Cryptocurrency - Ninurta - 12-14-2025
(12-14-2025, 10:46 AM)Michigan Swamp Buck Wrote:(12-14-2025, 12:20 AM)Ninurta Wrote: Does that mean the government has to pay you royalties if they seize your digital assets? I ask because I can't imagine any government or corporation paying any attention at all to any such law.
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Interesting question that I hadn't thought about. That may go on without them noticing, esp. if it is pennies.
It might be an interesting way for the CIA to launder funds for dark operations. They seize your assets, then pay the royalties, which of course go into the seized account without anyone noticing, and then quietly re-extract those royalties from the seized accounts to quietly funnel them back into pet projects, all the while appearing to obey the "letter of the law" while in reality laundering funds...
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RE: Cryptocurrency - Michigan Swamp Buck - 12-18-2025
Since I have my PayPal set up for my home business and linked that account to the exchanges, I bought some crypto from my PayPal account. I had to go through all the security with my ID and a pic of my face, etc., just like setting up any other crypto-account.
I wanted to buy some PayPal stablecoins known as PYUSD. I had some extra money that PayPal gave me for making transactions for the last couple years, so I bought $40 of PYUSD and sent half to my other crypto wallet. I can buy a lot of different coins in PayPal, so I am making my PayPal account the main one for my crypto dealings. Every transaction on PayPal means a little extra cash to add to my free money cryptocurrency racket through Parler.
RE: Cryptocurrency - Ninurta - 12-18-2025
Here is an hour-long video on the war of privacy, with a focus on the battle against a particular crypto wallet that enhanced the privacy of transactions.
This war is real. Governments think that you have no right to privacy, including the US government as exemplified by the draconian Federal courts for the Southern District of New York, which has bee guilty of abuses of power for quite some time now. It probably did not start with their corrupt and malicious prosecutions of Trump, and it will not end with this case. It's a war. New battle developments are ongoing, with no end in sight.
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RE: Cryptocurrency - Michigan Swamp Buck - 01-14-2026
Well, now, things are getting more interesting in my "Adventures With Crypto".
Some people in the cryptocurrency scene have told me, "Do Your Own Research", AKA "DYOR". No one wants to give you the link to a helpful webpage, usually. So things can take a while to sink in. I must admit, my older brother warned me about scams, but as I didn't invest out of pocket, I wasn't concerned with his warnings.
I planned to earn rewards on Parler and cash them out somehow. A simple goal, but all the twists and turns involved got me playing around with crypto. All that is posted here for the most part, like a diary.
I decided to hold the crypto as stable coins until I felt like cashing out and to use for making trades. I wanted to spread it out and keep assets of $100 in my Parler issued wallet (Kyvo) and another $100 split between two exchanges where I could trade the stablecoins for other tokens. I also paid for $40 of PayPal's stablecoins to play with.
I was able to send and receive the Parler token Optio and I was able to deposit other coins in the Parler wallet. So I deposited $120 worth of stablecoins, that wasn't a problem, but I can't send them out to the exchanges or PayPal now. It gets better. I did my own research on complaints and criticisms of Parler's Optio token, and what I found is making the whole deal sound like a scam. In fact, I believe it is a house of cards ready to blow over.
It comes down to this. I have around $120 of stablecoin assets in Parler's wallet, with $20 out of pocket. I can't get those coins out of the wallet. The Parler Optio tokens I'm still earning as rewards will deposit in the wallet and will send to the three exchanges that take it, except they won't deposit them now, and haven't for about a month. If I try to send the Optio out when they won't deposit it, it will send it out, but it vanishes into the ether. Only one of these exchanges are legal to use in the U.S., and the other two are not.
It appears that I did all kinds of work peddling their crappy crypto and trading it into stablecoins just to have them keep it. I have support working on it and I told them I want it out of that damn wallet. Here is a good link that shows how shady Optio tokens are.
LINK
I'm lucky to keep around $50 worth of stablecoins I traded for Optio by keeping it in the exchanges. No one told me to use their wallet for other coins besides Optio, but it can be used for that. So I don't think that it was a scam, more like a glitch. Those are my coins and I'll keep trying to get them out, but I think I won't be getting anymore speedy replies from Tech Support now that I explained the problem in detail.
RE: Cryptocurrency - Michigan Swamp Buck - 01-19-2026
I believe I have some idea of what is going on with my crypto wallet not withdrawing certain coins; it's called a "frozen wallet."
It can be a scam; on the other hand, it may be the wallet (or exchange) freezing assets due to security reasons or for suspicion of fraud. It can also be a glitch related to several factors down the line.
I want to eliminate this problem as a scam. Apparently, the usual frozen wallet scam requires you to pay to unfreeze the account that eventually disappears with your assets. This could be a variation on a theme where they allow you to use their tokens freely to lure you in and allow deposits of other tokens that can't be traded or withdrawn. Eventually, while tech support stalls, the whole thing collapses, and they keep it all.
I do have a feeling that the whole thing will crash soon. The Optio dropped down to around 2 tenths of a cent per token and is fluctuating around 3 tenths. It is staying afloat by selling blockchain nodes for $1,000 USD each that offer returns and perks. It is a multi-level marketing scheme, essentially, not a decentralized platform to benefit the Parler community.
They have, in effect, eliminated trade outside of their small crypto economy, which is only useful for buying things in their Cartix marketplace. You can tip members with their Optio tokens; however, I tried it, and the tip is sent but never received (yet). You can tip real money, too, but only $ 0.59 out of a dollar makes it through the fees.
IMO, the whole Parler crypto thing is going to implode, and it may take Parler out with it. That $120 I have frozen in my Kyvo wallet sucks, but I technically had $190 worth of Opti when I got started, meaning I still had $70 out of the deal. Actually, more like $40 after all the fees and mistakes I made; however, I learned a shit load in the process. I feel confident enough to continue with my plans using $200 of my own cash outside of anything related to Parler, Optio, and the Kyvo wallet.
I will try the steps suggested by the fraud alert websites to get my wallet unfrozen, and as I learn more, I will put pressure on Parler to give up my assets. Just another lesson that will make it worth my crypto if I never get it back.
RE: Cryptocurrency - Michigan Swamp Buck - 01-22-2026
Good news. Tech support has figured out the problem, and it is very basic. It is user error, of course.
So, a wallet held by the exchanges is a custodial wallet, and the Kyvo one is non-custodial. What this means is that when I send crypto, it requires a processing fee and a "gas" fee. The gas fee is to pay the crypto platform you use to send your coins, in this case, Ethereum (ETH). This fee is paid for in the crypto you are sending from a custodial wallet. They convert your currency into enough ETH to pay the gas fee.
However, with a non-custodial wallet, you're responsible for paying the gas fee in ETH, a currency I didn't have in my wallet. The wallet won't convert other coins to ETH during a transaction; you have to provide ETH yourself. So, no ETH in your non-custodial wallet, no sending anything.
This is unnecessary when sending and receiving Optio, the Parler token. So that explains everything that happened, not big conspiracy, just me eff'ing up so I can learn it all the hard way. I did discover the frozen wallet scam and other info I'd never have looked for, so another couple of lessons learned.
RE: Cryptocurrency - Michigan Swamp Buck - 01-22-2026
I got to laugh. I felt it, a cautious doubt crossed my mind, but I chose to believe once again.
I transferred around $19 of Etherium into the Kyvo wallet, then lo and behold, I was able to send my PayPal coins out of the wallet. But there was still a problem. The balance in my wallet didn't change.
I went to PayPal to see if it made it there, and it hadn't made it. So I checked the deposit address at PayPal again, and it changed. So I tried the new number it gave me, and got the same results that it said it was sent, but nothing happened. So I tried to send it to the Kraken exchange, where they trade PayPal, and the same thing. Then I tried to send the Tether coin, USDT, and the same thing once again.
So, now I have an extra $19 of ETH in my Kyvo wallet and a new balance of $140 I can't get out! I am waiting on support once again, maybe, just maybe they know what the hell I'm doing wrong. No way am I putting anything more in that damn wallet!
RE: Cryptocurrency - Michigan Swamp Buck - 01-28-2026
I got my crypto out of that "Damned Wallet!", my new name for it.
I worked with Support until I got to this point and was waiting for a new response to my ticket. When I checked it today, the name changed from Kyvo to Parler Pay. Also, my support ticket is gone now.
So I went to Parler and saw that the wallet changed names on there too, and when I tried to send out my crypto again, it finally worked! I cleared out everything but the remaining $17.47 of Ethereum for future gas fees.
Now I feel I can get down to some trading finally. I know I will have more to learn and will keep updating this thread as I encounter new things. Thanks for following along.
ETA: Out of curiosity, I checked Parler's Optio token's market value, $ 0.002117, it is getting pretty low. Also, the Coinstore Exchange won't allow you to deposit or trade Optio, only withdraw. That is the only exchange in the States that you can use legally to trade Optio. MEXC, the Mexican Exchange you aren't supposed to use, will accept OPT deposits. However, they aren't worth anything right now and I need to build them up again anyway.
RE: Cryptocurrency - Michigan Swamp Buck - 01-30-2026
I've noticed that when a new cryptocurrency hits the market, the Initial Public Offering price (IPO) is as high as it is going to be as it roars out of the gate. But unless the coin takes off from there, I think of this as jumping off a cliff.
When it lands, it finds its level and stays near there for a long time. It may climb some peaks and drop into some valleys, but unless something big happens, the coin will keep dropping until it is virtually worthless and stops trading.
I was checking out an article on Coin Gecko that may help explain what I was noticing when I was researching the trading history of various coins and tokens.
Quote:Dead Coins: Over 50% of Cryptocurrencies Have Failed. How Many Crypto Coins Have Died?
53.2% of all cryptocurrencies on GeckoTerminal have failed, with the majority occurring in 2025 itself. In 2025 alone, 11.6 million tokens failed, representing a large majority of token failures, or 86.3%.
https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed
I suspect a high number of coin launches occurred in 2025 that had fewer tokens with a real use or utility. There seem to be pre-buys that occur before an IPO and I bet those are lower than the opening price.
What I'm going to look at is what kept coins alive and even gaining while the economic environment drove so many others to extinction. Of course, what kills a coin is important, but I want to know what qualities and characteristics allow cryptocurrencies to not just survive but to make gains. That is the idea, to buy tokens that gain value over time to be traded at a profit.
I don't think that Parler's reward tokens will do very well so I'm looking at other ones. Also, I'm looking into "Yield Farming" and "Staking" as passive forms of generating more tokens. Also, there are a number of crypto generating programs available (outside of Parler) that can add to your crypto assets, like "Learn to Earn" or "Purchase Rewards" apps. In fact, I just earned 20 more Coin Gecko candy point rewards when I was researching this post.
The plan going forward: I'll do some trading with some assets and grow the rest with these programs. As long as I can see growth, it will be small tweaks and reworks to increase gains. If my trades fall short, I'll place the balance into these programs until I rework the plan.
RE: Cryptocurrency - Michigan Swamp Buck - 01-30-2026
From what I found in my research on staking tokens for passive income, two tokens are best: Ethereum and Solana. I staked $50 of each coin, splitting it between the two exchanges, so I have $25 of each coin in both, making it close to $100 total that is earning from 1.86 to 5.23 APY on each $25 staked. That leaves $50 in each exchange for trading.
I have a total of $100 in PYUSD coins and $100 dollars earning rewards in PayPal, along with this other $100 that is staked, and an additional $100 stablecoins to trade with.
RE: Cryptocurrency - Michigan Swamp Buck - 02-01-2026
This is from an earlier post . . .
Quote:I've noticed that when a new cryptocurrency hits the market, the Initial Public Offering price (IPO) is as high as it is going to be as it roars out of the gate. But unless the coin takes off from there, I think of this as jumping off a cliff.
When it lands, it finds its level and stays near there for a long time. It may climb some peaks and drop into some valleys, but unless something big happens, the coin will keep dropping until it is virtually worthless and stops trading.
I was just talking to the stepson yesterday, and he told me they call this "pulling the rug". These coin creators hype their crypto on all the social media and everywhere else they can before they put it up for trade. Then when it begins selling, they sell out their pre-owned coins and disappear while the coin crashes on the market.
I suspect that if I researched Parler's coin, Optio, that it's creators and early sellers have disappeared since it hit the market. It had an all time high of 3.5 cents and now it is around 0.002, two tenths of a cent. There are some with far less value where the zeros are expressed in powers, like 0.0 to the 4th power, then some value below that. Like doing the Limbo, how low can you go?
RE: Cryptocurrency - Michigan Swamp Buck - 02-03-2026
I should look at the data and see if there are connections. Buying makes value go up, so this may be a good angle to pursue.
Quote:Cryptocurrency platforms facilitated Iran's evasion of sanctions, US suspects. US authorities are examining whether crypto platforms helped Iranian officials evade sanctions, as digital currency use in Iran surged to billions of dollars last year.
. . . The US Treasury is now looking at whether crypto platforms have enabled state-linked players to evade sanctions when seeking to move money abroad, access hard currency, or procure goods, said Ari Redbord, global head of policy at US-based blockchain analysis company TRM Labs, who said he had direct knowledge of the Treasury's concerns.
A Treasury spokesperson referred Reuters to a September statement announcing measures the department was taking against "shadow banking" networks supporting Iran, including those it said used crypto to skirt sanctions.
Redbord did not identify any cryptocurrency platforms being probed or where they were based.
https://www.jpost.com/middle-east/iran-news/article-885486
RE: Cryptocurrency - Michigan Swamp Buck - 02-04-2026
Parler is still acting buggy. I have been posting everyday for a 281 day streak and I haven't received any rewards since Jan. 11th, that is three and a half weeks now or around 500 tokens based on my average lately.
Thank goodness I finally got that wallet cleared out when it became Parler Pay again. Maybe they will catch up my rewards soon, but at .002 per token, I'm not concerned, esp. now that I'm finally trading some tokens that should have some good gains by the end of the month. I'm working other rewards programs now too, so no big deal really.
RE: Cryptocurrency - Michigan Swamp Buck - 02-05-2026
It took me awhile, stumbling through the underbrush of an unknown crypto jungle, but I have discovered some more basic information on cryptocurrency.
Presales of tokens are built into these token launches. In many cases, average folks can get in on the presales before the launch and buy tokens for pennies before it leaves the starting gate. So anyone could potentially get in on a token before it hits the market then cash in as they "pull the rug" and it crashes.
Here is the webpage of a new token getting ready for launch called Bitcoin Hyper, a faster version of Bitcoin. It actually looks like a good one, but I'm not even looking at what they want for a presale investment, it is probably over the top for me.
https://bitcoinhyper.com/?clickId=fx_b186886_1729907f7e9381207557601e83dd4f10_1
RE: Cryptocurrency - Michigan Swamp Buck - 02-06-2026
I got my plans tweaked, rolling, and officially launched my crypto venture yesterday by purchasing $100 of Ethereum and Solana coins and placing them in staking programs that range in return rates from 1.86% to 5.23% APR. A have $100 of PYUSD stablecoins that are earning 4% in PayPal's wallet. Then I decided on a token to speculate with called Polygon POL and put $50 on it.
The Ethereum and Solana, both strong and reliable coins, have been losing since I bought them, but the Polygon had strong gains from the moment I got it. That is until it started to drop in value too. Now I'm down by around $40 out of my $300 investment.
You know what they say, "A fool and his crypto are soon parted."
RE: Cryptocurrency - Bally002 - 02-06-2026
(Yesterday, 03:11 AM)Michigan Swamp Buck Wrote: I got my plans tweaked, rolling, and officially launched my crypto venture yesterday by purchasing $100 of Ethereum and Solana coins and placing them in staking programs that range in return rates from 1.86% to 5.23% APR. A have $100 of PYUSD stablecoins that are earning 4% in PayPal's wallet. Then I decided on a token to speculate with called Polygon POL and put $50 on it.
The Ethereum and Solana, both strong and reliable coins, have been losing since I bought them, but the Polygon had strong gains from the moment I got it. That is until it started to drop in value too. Now I'm down by around $40 out of my $300 investment.
You know what they say, "A fool and his crypto are soon parted."
Hi MSB. I follow this thread and at this point I'm unsure as to the value of Crypto after reading this. Do you make a profit, even perhaps in the long term.
My kind regards,
Bally)
RE: Cryptocurrency - Michigan Swamp Buck - 02-06-2026
@Bally
Value is tough, because how do you value a digital asset? It seems that the hype and presale purchases add value for the most part. I have been looking at the utility of tokens and coins to determine potential value. If the coin does work of some kind, it has a value in my eyes. It should have staying power while it is being used at least.
It is easy to understand the value of a digital asset if it is software of some kind, like Windows operating system. Its utility as a tool or application is its value. However, I can't see any value in a "meme" coin based on basically nothing but a joke (maybe). I'm not sure if those coin designs are even copyrighted.
That is the cryptocurrency, known as fungible tokens, where they all carry the same value. There is the non-fungible tokens (NFTs) with individual value that are essentially digital collector art. I don't believe that anyone makes NFTs from 3-D printer instructions so you can actually have a physical art work from it, although that sounds like a good way to add actual value to a digital art asset. Even an archival scan of artwork would carry reproduction value for an NFT, but that idea isn't even considered. As far as I know, that is my idea, one I'm actually working on for my own fine artwork from college. Scan it, tokenize it, and destroy the original artwork to insure the scarcity of the digitized version and create value.
Maybe you're confusion will lead you to other conclusions on why and how these tokens carry any monetary value. Most of those in the crypto market have a similar check list of attributes and characteristics that supposedly add value to tokens. They have their own ideas as well I'm sure, but outside of any real life value, they just want to buy low and sell high. They could be selling empty plastic bags full of air, as long as it is selling and people buy it, it has value.
The Pet Rock craze of the 70s comes to mind. Because anyone can pick up a rock off the ground, give it a name and make it a pet, it has little value as such. What people were actually buying was a certificate from the guy who came up with the idea. Then you have bragging rights when someone else has a rock from their backyard. This is kind of the idea it seems.
Expanding on the pet rock analogy. Let's say you purchased an official "Pet Rock" that is certified, and you have the original box it came in. It cost you $10. Now you post cute pictures and videos of your rock, and it gets its 20 minutes of fame on social media. Then, when it gets really popular with all kinds of followers, you auction it off and make $2,000. All for a rock you could have found in your yard or on the street.
Taking that idea a step too far would have you putting ribbons on dog turds and selling them online. That might sell in California. I don't know what people can be convinced into buying as trendy, but dog turds could become a craze, I suppose. I'm certain an authentic, certified dog turd from Lassie or Rin Tin Tin would fetch a high price at auction.
RE: Cryptocurrency - Michigan Swamp Buck - 02-06-2026
A couple more things . . .
Any gains or losses in the value of a coin or token on the market are called "unrealized returns" and aren't a gain or loss until you cash out. They only have potential value that fluctuates until they are sold — a strange state of being IMO.
Also, the losses that the big coins like Bitcoin, Ethereum, Solana, etc., are experiencing are due in large part to the "Whales" that are selling off their sizable holdings and causing a chain reaction in the markets. The whales use their huge share of the total available coins to affect the market. I highly suspect that they will go back up once the waves created by the whales calm down.
Where is Captain Ahab when you need him?
RE: Cryptocurrency - Ninurta - 02-07-2026
(Yesterday, 12:23 PM)Michigan Swamp Buck Wrote: ...
The Pet Rock craze of the 70s comes to mind. Because anyone can pick up a rock off the ground, give it a name and make it a pet, it has little value as such. What people were actually buying was a certificate from the guy who came up with the idea. Then you have bragging rights when someone else has a rock from their backyard. This is kind of the idea it seems.
...
My Pet Rock was definitely one of a kind, a rarity. I caught it and tamed it myself, out of the wild. I couldn't see giving someone actual money for something I could get for free, on my own, using a suitable trap to catch it, of course.
Although one-of-a-kind, I don't know if it ever had any actual value or not. Before I could investigate that matter, I accidentally left it's cage door open, and it escaped back into the wild.
Some times, especially on cold nights, I can still hear it tapping against the side of the house, wanting back in... but I'm done with it, I tell ya! I gave it the easy life, and it still ran off, so it can damned well stay out there in the wild!
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