Baron's Crypto Trading Journal

[Baron]

The point of a wash sale is to capture losses for tax purposes and then repurchase that same amount again for future gain. So any short-term downside by a big seller would be eventually offset by the short-term upward price movement caused by the repurchase, so it balances back out. Therefore, the wash sale impact is not really something that's a major factor in my decisions, especially considering that the biggest crypto holders are not in a position of loss so they would have no incentive to do a wash sale in the first place.

 

[Frederick Foresight]

The point of a wash sale is to capture losses for tax purposes and then repurchase that same amount again for future gain. So any short-term downside by a big seller would be eventually offset by the short-term upward price movement caused by the repurchase, so it balances back out. Therefore, the wash sale impact is not really something that's a major factor in my decisions.

More Than Half Of All Bitcoin Trades Are Fake

https://www.forbes.com/sites/javier...-all-bitcoin-trades-are-fake/?sh=646845076681

 

[Baron]

More Than Half Of All Bitcoin Trades Are Fake

https://www.forbes.com/sites/javier...-all-bitcoin-trades-are-fake/?sh=646845076681

There's nothing in that article that makes an argument against owning Bitcoin. All legit BTC transactions are recorded on the blockchain and that recording mechanism has been impeccable and accurate so far.

 

[Frederick Foresight]

There's nothing in that article that makes an argument against owning Bitcoin. All legit BTC transactions are recorded on the blockchain and that recording mechanism has been impeccable and accurate so far.

Then why all the fakery? As for blockchain, users are pseudonymous. I would imagine that someone can have more than one pseudonym and one account.

More: Wash Trading Is Rampant on Decentralized Crypto Exchanges

• Liquidity providers have manipulated prices of 20,000 tokens

https://www.bloomberg.com/news/arti...-is-rampant-on-decentralized-crypto-exchanges

 

[Baron]

Then why all the fakery? As for blockchain, users are pseudonymous. I would imagine that someone can have more than one pseudonym.

More: Wash Trading Is Rampant on Decentralized Crypto Exchanges

• Liquidity providers have manipulated prices of 20,000 tokens

https://www.bloomberg.com/news/arti...-is-rampant-on-decentralized-crypto-exchanges

Then why all the fakery?

The volume that some of the offshore trading exchanges claim they are doing doesn't match up with the actual volume of recorded and traceable trades. I don't trade on any of those offshore exchanges anyway so I don't care what they claim or don't claim, and like I said, the only metrics that matter to me are the on-chain metrics, not random numbers that offshore exchanges claim. And the Bloomberg article is referring to wash sales of all crypto tokens on DECENTRALIZED exchanges. I don't trade crypto tokens using a DEX so none of that applies to me.

 

[Frederick Foresight]

And the Bloomberg article is referring to wash sales of all crypto tokens on DECENTRALIZED exchanges. I don't trade crypto tokens using a DEX so none of that applies to me.

Are the prices different on the decentralized exchanges?

like I said, the only metrics that matter to me are the on-chain metrics

But what prevents a single user or entity from using multiple pseudonyms and accounts on the blockchain for the express purpose of manipulating prices via wash sales?

 

[Baron]

Are the prices different on the decentralized exchanges?

They are each slightly different at any given moment, but I'm sure the automated arb traders have that inefficiency pretty much in check.

But what prevents a single user or entity from using multiple pseudonyms and accounts on the blockchain for the express purpose of manipulating prices via wash sales?

In the case of BTC, it's the depth of the market. It's just too deep for a single user to manipulate much of anything.

 

[The_Krakenite]

It's just too deep for a single user to manipulate much of anything.

I may have to re-watch some of the cliff notes on the SBF court trial... but IIRC one big shocker moment was when Caroline admitted that SBF was at one point manipulating the floor-price of BTC using customer's funds. Granted, he had billions to play with...

 

[semperfrosty]

They are each slightly different at any given moment, but I'm sure the automated arb traders have that inefficiency pretty much in check.



In the case of BTC, it's the depth of the market. It's just too deep for a single user to manipulate much of anything.

Thought I saw a 34,000 touch just now...but I prob imagined it...it was pumping hard...



LFG lads! @johnarb @Baron @NoahA @jbusse @Buy1Sell2 @The_Krakenite @Tokenz @long @GlobalMacro90

 

[semperfrosty]

For the number guys,BTC:AUD:

Cracked the 50,000.

Also note the market cap.Nice to see that big fat T at the end!