Crypto-trading thread

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XpressAg09
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In reply to Brian Earl Spilner • 2:12p, 6/12/22
AG
Ha. I'll survive.
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Adverse Event
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In reply to XpressAg09 • 2:51p, 6/12/22
Maybe you and will25 could stop funding exit liquidity for obvious scams....

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will25u
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4:06p, 6/12/22
I got back $60. So while I shouldn't have put my money there, I got some of it back.
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XpressAg09
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In reply to Adverse Event • 4:29p, 6/12/22
AG
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LMCane
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7:17p, 6/12/22
another ****coin collapsing

BTC just hit 52 week lows

from 69K to 26k in half a year.

need to rob a bank to get more cash to buy bitcoin tomorrow
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Deluxe
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In reply to LMCane • 7:30p, 6/12/22
AG
LMCane said:
BTC now 61% lower than it's 52 week ATH

finally breaking below 29K after alk these weeks!

Needed to happen. Let's flush it down to $22 or so and boomerang it
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MRB10
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8:22p, 6/12/22
AG
The lower the better!
“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
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TexasRebel
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In reply to MRB10 • 8:44p, 6/12/22
AG
I'll buy 21,000,000 at $0.00
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Ags2013
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In reply to MRB10 • 8:44p, 6/12/22
AG
NTXAg10 said:
The lower the better!


Tell that to Luna
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TxAG#2011
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9:21p, 6/12/22


Oh wow. Not good

A LOT of people stake on celsius
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Adverse Event
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In reply to TexasRebel • 2:08a, 6/13/22
TexasRebel said:
I'll buy 21,000,000 at $0.00


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BAP Enthusiast
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6:43a, 6/13/22


Definitely not an exit scam.
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Madagascar
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6:59a, 6/13/22
AG
Bitcoin on sale! 23k!
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BAP Enthusiast
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In reply to Madagascar • 7:07a, 6/13/22
Madagascar said:
Bitcoin on sale! 23k!


It's going under $10k, so no it's not.
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Madagascar
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In reply to BAP Enthusiast • 7:48a, 6/13/22
AG
Why do you think that?
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Ags2013
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In reply to Madagascar • 8:05a, 6/13/22
AG
Madagascar said:
Why do you think that?
It is falling insanely fast. I don't know if it hits $10k but it's not out of the realm of possibility,
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TxAG#2011
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8:24a, 6/13/22
Agreeing with Arthur and we bottom in the $19-20k range. It's the peak of the last bullrun. Makes a lot of sense.

Also near the liquidation price for Celsius.
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will25u
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8:28a, 6/13/22
I just shorted some of my crypto. Lets see if I can make some $ on the way down.
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LMCane
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In reply to Ags2013 • 8:40a, 6/13/22
Ags2013 said:
Madagascar said:
Why do you think that?
It is falling insanely fast. I don't know if it hits $10k but it's not out of the realm of possibility,
next level of resistance is supposedly $18,000
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LMCane
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8:41a, 6/13/22
is there a way to see how many people were leveraging and buying BTC on margin over the last 2 years?

someone on CNBC claimed margin calls are forcing BTC price down now- how would that work?
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tysker
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In reply to Adverse Event • 8:43a, 6/13/22
AG
Adverse Event said:
TexasRebel said:
I'll buy 21,000,000 at $0.00


97 percent or more of actively publishing climate scientists agree that climate-warming trends over the past century are extremely likely due to human activities.
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Ags2013
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In reply to LMCane • 8:46a, 6/13/22
AG
LMCane said:
is there a way to see how many people were leveraging and buying BTC on margin over the last 2 years?

someone on CNBC claimed margin calls are forcing BTC price down now- how would that work?
I don't know how people buy crypto on margin. Way too risky for me.
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tysker
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In reply to LMCane • 8:54a, 6/13/22
AG
LMCane said:
is there a way to see how many people were leveraging and buying BTC on margin over the last 2 years?

someone on CNBC claimed margin calls are forcing BTC price down now- how would that work?
One of the problems with crypto is the inconsistency for which you receive leverage across platforms, brokers, etc. There is no circuit breaker or limit down so all of the leverage and risk can be taken out of the system in one move. Covering margin calls is easy because its completely automated and happens across the world across all venues all at once.

Couple of posts above notes a person shorting his crypto, which makes even less sense because that requires a lending/borrowing system. What is protection for the poster if he is loaning out his crypto to someone that never intends to pay it back?
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BAP Enthusiast
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In reply to Madagascar • 9:02a, 6/13/22
Madagascar said:
Why do you think that?


There is zero good news globally. Crypto is in the tech world and there are huge issues in tech right now. Tons of problems with stablecoins and such.



There is no reason at all to think it's going to slow down, at all.
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tysker
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In reply to BAP Enthusiast • 9:11a, 6/13/22
AG
BAP Enthusiast said:

There is no reason at all to think it's going to slow down, at all.
At a certain price there is verification activity is a net-loss to miners.
And how many transactions over the last 48 hours related to the exchange of goods and services versus those thta are financial transactions of crypto speculators/investors? Why would miners continue to verify the unwinding of speculative investments which is causing the price to go down which makes the miners lose money?
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TxAG#2011
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In reply to tysker • 9:13a, 6/13/22
tysker said:
LMCane said:
is there a way to see how many people were leveraging and buying BTC on margin over the last 2 years?

someone on CNBC claimed margin calls are forcing BTC price down now- how would that work?
One of the problems with crypto is the inconsistency for which you receive leverage across platforms, brokers, etc. There is no circuit breaker or limit down so all of the leverage and risk can be taken out of the system in one move. Covering margin calls is easy because its completely automated and happens across the world across all venues all at once.

Couple of posts above notes a person shorting his crypto, which makes even less sense because that requires a lending/borrowing system. What is protection for the poster if he is loaning out his crypto to someone that never intends to pay it back?
There is a lending/borrowing system on a lot of exchanges that allow you to buy on leverage. It's also automated and will liquidate when the price gets to a certain point.

But yes there is no circuit breaker and there's huge risk. In the COVID crash it was a liquidation cascade and the Bitmex guys had to basically turn off the machine so Btc wouldn't go to $0.
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Adverse Event
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In reply to BAP Enthusiast • 9:14a, 6/13/22
BAP Enthusiast said:
Madagascar said:
Why do you think that?


There is zero good news globally. Crypto is in the tech world and there are huge issues in tech right now. Tons of problems with stablecoins and such.



There is no reason at all to think it's going to slow down, at all.

****coin casinos gonna be incentivized to ****coin.

https://techstory.in/binance-and-coinbase-arent-implementing-the-lightning-network/

Quote:
The more famous platforms like Binance, FTX, and Coinbase haven't added it. And if you want to transact using BTC on these exchanges, it will be on the primary chain, which involves higher fees and slower speeds.
...
So, why is this happening?
Many Reddit users pointed out logical reasons why it is not in the exchange's favor to implement the BTC lightning network. For Binance, it could mean more withdrawals to cold storage because of the cheaper fees. The barrier to using a private wallet or cold storage for many investors has been the transfer fees. So, for them, it will be against the business plans.

For other exchanges like FTX and Coinbase, the lack of intent to add the lightning network might be due to the priority of adding more altcoins first. NFTs are also something a lot of these exchanges are prioritizing over the integration of the lightning network


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tysker
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In reply to TxAG#2011 • 9:19a, 6/13/22
AG
TxAG#2011 said:
tysker said:
LMCane said:
is there a way to see how many people were leveraging and buying BTC on margin over the last 2 years?

someone on CNBC claimed margin calls are forcing BTC price down now- how would that work?
One of the problems with crypto is the inconsistency for which you receive leverage across platforms, brokers, etc. There is no circuit breaker or limit down so all of the leverage and risk can be taken out of the system in one move. Covering margin calls is easy because its completely automated and happens across the world across all venues all at once.

Couple of posts above notes a person shorting his crypto, which makes even less sense because that requires a lending/borrowing system. What is protection for the poster if he is loaning out his crypto to someone that never intends to pay it back?
There is a lending/borrowing system on a lot of exchanges that allow you to buy on leverage. It's also automated and will liquidate when the price gets to a certain point.

But yes there is no circuit breaker and there's huge risk. In the COVID crash it was a liquidation cascade and the Bitmex guys had to basically turn off the machine so Btc wouldn't go to $0.
That lending/borrowing system is a pool of the in house assets, I'm sure much of it offsetting. But like in house risk pool and Guam, when two many people get on one side, the whole thing flips over.

In modern securities, there are other houses from which firms/exchanges can borrow, at a cost of course, to move some risk, stabilize your books, and supplement your capitalization needs. Those structures arent as well developed in the crypto space.
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Deluxe
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In reply to Adverse Event • 9:33a, 6/13/22
AG
Yep. I think Gensler is coming for virtually all the not-Bitcoin stuff in crypto. Not sure how coincidental it is that Terra and Celsius debacles happened within a few weeks. Either way, his ammo is accumulating and he's getting ready for court.
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LMCane
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11:55a, 6/13/22
amazing how many literal ponzi schemes have been created in the altcoins
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tysker
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In reply to Adverse Event • 12:31p, 6/13/22
AG
Quote:
Neither is a problem w/ [url=https://twitter.com/hashtag/Bitcoin?src=hashtag_click]#Bitcoin[/url] network, it's a problem w/ @binance
Bitcoin is fine; its the humans that **** everything up
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Adverse Event
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In reply to tysker • 12:39p, 6/13/22
The code is open, "businesses" built outside of that code are not. iirc, these businesses would post "proof of reserves" to gain trust but I can't remember the last time I saw anyone doing that.

Pretty simple, bitcoin is trustless. Everything else is sus.
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Pendragon12
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1:46p, 6/13/22
AG
The Binance news got me to finally set up my cold wallet today. I don't have much left at current prices $-wise, but I definitely don't want to be unable to use it if the exchange shuts things down.
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tysker
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In reply to Adverse Event • 2:10p, 6/13/22
AG
Quote:
Pretty simple, bitcoin is trustless. Everything else is sus.
Which may be the tragic flaw of the entire project
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Ags2013
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9:02p, 6/13/22
AG
Absolute blood bath
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