Posted on 06/19/2021 10:01:58 AM PDT by lowbridge
Lol.
Just stop. You stated in how many posts that you cannot buy it? I showed you it could be bought. In fact, before I bought it I showed you how to buy it and you still insisted you couldn't. You're not an "expert". You're a guy with a coinbase account. Do you even buy and sell on pro?
What I meant by Uniswap not being an exchange, was that it is not what most people think of in a traditional exchange because it isn't.
It is a DECENTRALIZED Exchange with high gas fees.
Once again, you're showing your ignorance of this. Uniswap does not have high gas fees, their own fees are quite modest. When you buy it on Uniswap, you're buying it on the Eth blockchain. Ethereum (does/did) has had some really high gas fees recently and when you buy DEFI, you're paying Eth gas fees to the blockchain because you're buying it on the Eth block chain via Uniswap. Uniswap does have liquidity pools though, but just to make trades available. You're not paying the Uniswap transaction gas fees to Uniswap, you're paying transaction gas fees to the miners to confirm the transaction. You do pay a small fee to Uniswap in Eth, which is why I said you need to have Eth in your wallet. You seemed to think I somehow got the symbol wrong for Rocket bunny when I mentioned needing Eth in your wallet, lol.
All the non Defi exchanges pay exactly the same Eth fee when they interact with the Eth blockchain. The difference is a centralized exchange holds their own liquidity pools and do not reach out to the Eth blockchain for liquidity unless the trade is greater than their liquidity pool. Once they have a bunch of trades that need confirmed, They bundle a whole bunch of transactions together and submit them to the blockchain and pay a pittance of the gas fee. This is why it can take longer on exchanges to get all the confirmations. During the peak hours when gwei(go google that one now) reached all time highs, you did pay more for Eth trades. The exchanges probably ate a little of the gas fee though.
Finally, what is happening in this story is that coinbase's wallet looks up how much each coin, or token is worth, calculates that value and shows it to you in the wallet app. Do you even know the difference between a coin and a token? Run out to google and learn that one now so the next time you present yourself as a crypto expert, you won't look as foolish.
As to your point about exchanging the value back to Eth, clearly he didn't. A Trillion dollar swap would show up everywhere. He probably tried to swap it back or to send it off the coinbase wallet to a different wallet that supports ERC20 and didn't have enough eth to allow the transaction to happen. It would have wound up in a different wallet, worth about the same as it was in his coinbase wallet; $20ish and it would have cost him about $6 to move it. All this was was a bug in coinbase showing the wrong value for a shittoken.
You do not even know what is an Exchange until I educated you on it. For the record, Coin Market Cap does not show Rocket Bunny trading anywhere. So you better let CZ know.
As for Uniswap I do not use it, and do not think it is safe to have your coins online in a hot wallet. I use a cold wallet. You are insane for trading on it. Ever hear of Mt Gox?
I told you earlier I have the highest level you can get on Coinbase. Yes I have been on Coinbase Pro brah... Plus other Exchanges. I know their are no fees to send to Coinbase Pro vs. regular Coinbase.
I had the highest level on Binance too until it was decided that Americans can no longer use it. I closed that account, and I do have a Binance U.S. account, but don’t really care for it nor use it. I do have accounts on other Exchanges.
By the way, a $6 fee for $21 of Bunny Rocket is VERY expensive! That’s over 1/3rd of the price! Do you know how much an XRP transaction cost? It is less than a penny. A 1/3rd cost of a transaction is NOT a good deal. Haha! S.M.H.
Nevertheless, the Newsweek story is full of crap to anyone that has been in the space for a while. The fact you believe it tells me you know just enough to be dangerous. You did not even know Uniswap is an Exchange until I educate you. Good grief!
I can tell you still do not know what you are talking about by what you are saying. Coinbase does not have Rocket Bunny brah.... In order for this guy to cash out on Coinbase he would have first had to swap Rocket Bunny back into Ethereum first, everyone would have saw it, and then he could move it to Coinbase. Oh and if the Ethereum gas fees was like your purchase.... Then his gas fees would probably be over 300 million.
The Newsweek story is fake as a $3 bill.
Trust me you are really talking to someone that knows this very well. I’ve been in it for years and know it very well.
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