Shorting the Crypto market

[Trader Curt]

I don't know, but that's a separate issue.

If tether is indeed being printed out of thin air it goes without saying that this could artificially inflate the market. But I don't know enough about this issue to say anything meaningful about it.

I'm actually listening through a podcast where this exact issue was brought up as a potential risk by a guy who is pro-crypto.



You do seem a bit uncritical.

I'm planning to invest in cryptocurrencies shortly. Better late than never. But that doesn't mean I need to accept everything about this market at face value, nor ignore the potential risks in this system.

I'd consider myself a realist. I act upon the good and the bad in the crypto space as a swing trader. And I highly encourage you to do as much research as you can to form your own opinions so you can take your own actions.

I'm not telling you to be a crypto head, nor am I trying to fill your head with my beliefs. Nor am I saying that Duke is wrong about tethers, because he's not. (I do however, think he's wrong about Bitcoin going to zero) This is a very manipulated market and that's part of the risk involved with making such high rewards. If you want a safe investment then go buy gold or Amazon.

 

[johnarb]

I'm planning to invest in cryptocurrencies shortly. Better late than never. But that doesn't mean I need to accept everything about this market at face value, nor ignore the potential risks in this system.

I think you'll do well, 100 hours of research seems to be the magic number

US Regulators are gonna go hard on stablecoins crackdown as has been reported in the news lately

Maybe in the future Tether fud will be gone

The bitcoin mining fud as being controlled by Chinese that we had to deal with for many years disappeared in a matter of weeks

You can see many, many threads here, by the usual suspects and all of a sudden, quiet, no acknowledgement of the fact that Chinese bitcoin miners now account for less than 1%, lmao


I recommend the following books: The Bitcoin Standard, Digital Gold, and the Bitcoin Billionaires for fun reading

 

[Laissez Faire]

I'd consider myself a realist. I act upon the good and the bad in the crypto space as a swing trader. And I highly encourage you to do as much research as you can to form your own opinions so you can take your own actions.

I'm not telling you to be a crypto head, nor am I trying to fill your head with my beliefs. Nor am I saying that Duke is wrong about tethers, because he's not. (I do however, think he's wrong about Bitcoin going to zero) This is a very manipulated market and that's part of the risk involved with making such high rewards. If you want a safe investment then go buy gold or Amazon.

Good comment. Working on the research part - slowly making progress.

RedDuke may want to clarify his own stance on the subject. I had a different impression than the one you put forth.

Even if the market (as a whole or just part of it) would collapse at some point does not mean the end of crypto. Wild swings seems to be part of the game here.

I think you'll do well, 100 hours of research seems to be the magic number

US Regulators are gonna go hard on stablecoins crackdown as has been reported in the news lately

Maybe in the future Tether fud will be gone

The bitcoin mining fud as being controlled by Chinese that we had to deal with for many years disappeared in a matter of weeks

You can see many, many threads here, by the usual suspects and all of a sudden, quiet, no acknowledgement of the fact that Chinese bitcoin miners now account for less than 1%, lmao

I recommend the following books: The Bitcoin Standard, Digital Gold, and the Bitcoin Billionaires for fun reading

Thank you. I'll look into those books.

 

[piezoe]

There is a ring of familiarity to all this. I think it is fine to trade and invest here so long as you realize you are really at the dog track or the ponies, but less regulated. It ill be lots of fun while it lasts. Try not to be the last one standing when he music stops!

 

[RedDuke]

Eh, RedDuke may be right a little bit. But is RedDuke an expert? Or is he repeating someone else's news? Yeah, tethers may be printed out of thin air, but is that the only way to buy or sell Bitcoin? There are 5 other stable coins including the US dollar that make up the market, but he seems to think tether can bring down the whole crypto market.

We just had a flash crash and Bitcoin went to 8000, how come that didn't crash the market?

RedDuke also has crypto holdings, why isn't he following his own beliefs?

See when people tell you these things, just know that nobody knows what is going on in the crypto markets. All we know is the news, and our gut instincts that tell us there is a better way to manage our money besides control from higher powers.

You do your own research and if you don't agree with Blockchain technology, then just stay out of it

Absolutely, what I write is what I believe and know. How it will all play out only time will tell.

I am only holding few ethers for now, no biggies if it falls.

 

[RedDuke]

.... Nor am I saying that Duke is wrong about tethers, because he's not. (I do however, think he's wrong about Bitcoin going to zero) T....

I only said it once or twice that it might, but that is like earth might get hit with meteor. I do believe that its value will be significantly reduced, if tethers are exposed, but 0 would be very far fetched indeed.

 

[RedDuke]

....
Even if the market (as a whole or just part of it) would collapse at some point does not mean the end of crypto. Wild swings seems to be part of the game here.....

I am a big believer in Blockchain, and that is why learning how to build one from scratch now. Collapse would be great for people like us to give us opportunity to invest significant funds, but it will also be not catastrophic for people like John, as he will hold indefinitely and will just buy more at depressed prices I assume

My issue right is where to focus. Just read few article on Solidity (base of ether smart contracts), but need to learn gas optimization and security. Also need to brush up on React and Node.js, and this is not even a block chain but just a contract on Ether

So far in research mode on where to focus.

 

[RedDuke]

Thanks for clarifying @RedDuke.

We only accept deposits in cryptocurrencies, and they are primarily held in cold storage, with a small % held online to process client withdrawals quickly. Client funds are not mixed with company own funds.

Although we are not supervised by a regulatory body, we still operate using the same guidelines and maintain the same capital adequacy that we would be required to if we were. This ensures that if we pursue regulation, the company is well established to do so.

How do you short one then if fiat is not part of equation? If I short gold, and it falls in price, I see my unrealized gains in fiat for example.

 

[johnarb]

If btc can maintain to stay above $66K throughout the whole trading day tomorrow, I expect MSTR to close above $850 and possibly to hit $900 intraday

Bitcoin hit a new all time high above $67K after stock market close

If btc can stay higher than $67K during tomorrow's stock market trading session, we can expect MSTR to go above $900 per share

MSTR closed at $860 today

 

[Overnight]

#gobulls