They are so confident , that the futures LONG margin is nearly 90% of the contract value
Its 200% for a short . !
Its 200% for a short . !
Bitcoin Price Thread
- Thread starter Magna
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This gobbledygook post saved the market for now
lol, if you understand this bullshit, you;re part of the problem
lol, if you understand this bullshit, you;re part of the problem
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Sounds like they are rearranging the deck chairs on the Titanic
In a way, UST was a mockery of USDT. This Do Kwan probly thought people will fall for any joke coin if it claims to be associated with the perceived stability of the Bretton Woods agreement, and/or the Petro-Dollar agreement. These opaque (versus the BTC white paper and open source code) "stable" coins are like rat poison squared in the coin community. I remember how Bitconnect, too, was in the top ten for a while. They had a pretty stable daily yield of about 1% for staked (locked up) coin, while the coin itself was rising, at a stable rate, in the open market...or so it seemed. They had an opaque algorithm (a "bot"), which arbitraged (or traded?) between BTC and the USD to gain them MORE than 1% each day, the excess of which would be their profit. Or so it was said. Thing is, USDT is not necessarily better, lacking any known algorithm at all. IF they've been holding TRON, it really exposes cracks in their matrix. It's as if their algorithm is to smoke cigars each day at 5 pm and see which way the wind is blowing. So now they will dump TRON for exactly what? Now, just as then, Me-Too coins popped up to cash in on Bitconnect's apparent success in attracting capital. Too many rug pulls to even count.
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Here's what i don't get. How hard is it to just bring your own USD to an exchange on deposit, if the plan is to go back and forth between "risk on" and "risk off" (eyes roll). Those exchanges that allow to deposit in just crypto, will usually also allow you to convert into USD, in theory, with the caveat that you cannot come in with crypto and leave with USD. If you come with crypto you leave with crypto, but in the meantime, you can usually "convert", temporarily, into something you consider to be "stable". So what, exactly, are these middle-man coins in the market for? Are they more trustworthy than the custodians of the actual exchanges? Or, is it considered less risky to be able to take stable coins off exchanges and hold them in wallets? How is that better?
A stablecoin which is genuinely backed by safe reserves (USD cash and Treasuries), and which is fully convertible, is a far safer place to store wealth than on an exchange. Even regulated brokerages under US jurisdiction sometimes fail; if and when an outfit like FTX fails, everyone holding cash (and crypto!) balances with them becomes an unsecured creditor, and has to try their luck in the Bahamian bankruptcy courts to get a slice of whatever assets can be recovered.
Sounds like they are rearranging the deck chairs on the Titanic
Hope they can swim .
Key words "genuinely backed" and fully convertible. But if someone is taking it off an exchange, is it not, by that time, just as easy to go back to one's national currency? I'm just having a hard time believing that the risks of holding a centralized coin are much different from the risks of leaving money on an exchange. Especially to hold for a long time off exchange. At least the risks of inflation are known. I don't see how holding a "backed" coin is risk free.
[edit] I guess what i'm saying is that as "backed" as they say a coin is, it's risk is not less than holding a currency that is being devalued by inflation. And as backed as they say it is, if the coin is in any way opaque, or centralized, it is only ever backed by the central committee, or worse, the one man that knows what the actual algorithm is that somehow connects the coin to convertibility.
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