Cryptocurrency Daily Discussion - August 14, 2021 (GMT+0) |
- Daily Discussion - August 14, 2021 (GMT+0)
- My daughter is dating a douche-bag
- I just sold an NFT for $100,000
- My girlfriend’s dad is a banking exec, I told him I’m all in on crypto
- Any one else in the same boat.
- For just $15 worth of gas, someone sent $472M ETH from wallet to wallet instantly. If banks saw that much money leaving their reserve unexpectedly, they'd see it suspicious and they could monitor or stop the transaction. This is the power of crypto.
- I'm using this bull run to get rid of all the shitcoins I bought.
- 5 things to expect from a bull run and practical ways to prepare yourself
- Crypto platform Poly Network rewards hacker with $500,000 'bug bounty'
- WeNano AMA
- Boomer perspective
- The global crypto market cap is up 6.7% and Safemoon is down 10%. Here are some comments from their daily thread.
- Your dollar just lost 5.2% of its value in buying consumer goods, in 1 year.
- [Warning Long] The importance of Tokenomics, DYOR, and networking when investing in a project with my personal example.
- I’d just like to take the time to say thank you to you all
- Reminder: Check your PC for hidden miners
- Seriously guys, you guys making money from crypto makes me happy, no matter what coin it is
- Summation of what happen today in crypto...
- “Investments are for rich” is what I thought before I found crypto
- Cardano Is Headed Beyond...
- Who else doesn't trust this subreddit for real information anymore?
- What if satoshi is dead?
- Longs vs Shorts, leverage, margin and liquidations explained for beginners
- It's been over 6 months since Robinhood announced wallets and trading for their crypto while other exchanges have been innovating and expanding. Get your coins off of Robinhood.
- Crypto vs. Stocks: Who won if you bought at the very bottom of the covid crash in March 2020? There were some mind-blowing gains over just 1.5 years!
- So who else is just Holding…?
| Daily Discussion - August 14, 2021 (GMT+0) Posted: 13 Aug 2021 05:00 PM PDT Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:
Useful Links:
[link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| My daughter is dating a douche-bag Posted: 13 Aug 2021 01:27 PM PDT I don't know where I messed up, I thought I taught her well on what to look for in a man. The guy just showed up at my house and starting rambling on about how DCAing 30 dollars in 4 months into Safemoon helped him understand finance and geopolitics. I told him he was completely oblivious about being in a ponzi, this only unchained a what I believed to be a cocaine induced speech saying that Safemoon was going to be the next Bitcoin and he was going to moon while buying "lambos" for his friends because he was no "Bitch-ass paperhands". I'm a bank executive, so you can only imagine what a nightmare this is for me. Don't know what the point of this post is, is not like my daughter is going to stop dating that idiot anyways. I'm scared about my daughter's future. Sorry, I needed to vent. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| I just sold an NFT for $100,000 Posted: 13 Aug 2021 08:20 PM PDT I just minted 10 NFTs of a random .jpg and sold one for $100,000. I was also the buyer. I sold the rest for $1. I just successfully laundered $100,000 and can even evade taxes by selling the rest at net loss. Don't get fooled by volume, sales and valuations in the NFT art market. It's highly inflated and used for cleaning money. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| My girlfriend’s dad is a banking exec, I told him I’m all in on crypto Posted: 13 Aug 2021 10:49 AM PDT He and I met yesterday. He is a kind and mild mannered guy who comes off as deeply intelligent. I asked him how he felt about decentralized finance and he said it was a risky venture (no surprise from his banking point of view) and anyone putting money into it is a fool. He seemed disappointed that his daughter's boyfriend wanted to talk about crypto. For me, crypto has fundamentally changed my life - it has taught me about finance, geopolitics, and that I have the agency to live a life I wasn't sure was possible. So, when he seemed disappointed, what did I do? I doubled down. I gave an impassioned speech about why cryptocurrency is changing the world and democratizing resources that traditionally only the wealthy had access to. It is giving poor communities a fighting chance and that it is revolutionary and something that is a big part of my investment strategy. I don't know what the point of this post is, but I just, idk, he made me feel like a fool of an investor because he either just doesn't get it or is scared of it and I feel like his view of me has become less favorable in terms of dating his daughter, but I'm going to stand up for what I believe in. Ramble over. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Any one else in the same boat. Posted: 13 Aug 2021 11:26 PM PDT My partner is constantly getting annoyed with me going on about crypto and me watching crypto news, I've doubled my salary trading crypto in the last few months but she doesn't even care.... should I stop sharing my enthusiasm and excitement? Like I'm literally putting a roof over our head with crypto... we will have a down payment for a house in no time but all I get is, I don't care about your stocks and stuff.... sigh 😕 EDIT holy fuck y'all blew up me! Some great advice, some not... but I think I'll save the crypto talk for my fellow crypto nerds. Thanks all [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Aug 2021 11:54 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| I'm using this bull run to get rid of all the shitcoins I bought. Posted: 13 Aug 2021 05:27 PM PDT I recently got into crypto and yes, got a little stupid and bought bags of bullshit rubbish coins. Some on BSC. I haven't bought anymore since May/June. And now with the market picking up, this seems like the best time to recoup some funds. No, i won't be getting back all the money i put in, but I'm willing to take the hit. I have learnt my lesson and will only be putting money in proper projects from now on. P.S. I'm getting rid of coins like BTT & CHZ (tho im still mulling it over) as well, they were bought on hype, and i don't believe in them. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5 things to expect from a bull run and practical ways to prepare yourself Posted: 13 Aug 2021 11:51 PM PDT Now before you say "I jinxed it" or, for you bears out there: "tHiS isN't eVeN a bULL rUn" yada yada yada; I'm not saying this is the long awaited bull run. Heck, it could very well be a fake out spurred by a series of publicity-boosting events such as Amazon's rumored adoption, Ethereum's upgrades, and the crypto regulation events in the US. But since it's better to be proactive rather than reactive, here's a list of things to expect during bull runs and what to do with the information:
BONUS: [credits: u/UndesirableWaffle] 'Crypto 'experts' and 'gurus' will make wild claims like BTC to $1million this year! ADA to $10 soon! And so on and so on. Tip: Learn to discern the good one's from the bad ones; the good one's are the one's who don't actually know shit and don't claim to know either. This list is a great start. That's pretty much it for this short list. Let me know if I missed anything and, maybe, I can add it. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Crypto platform Poly Network rewards hacker with $500,000 'bug bounty' Posted: 13 Aug 2021 05:16 AM PDT
 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 14 Aug 2021 01:06 AM PDT Hello everyone. We are WeNano. We are excited to be able to engage one of the largest (if not the largest) cryptocurrency communities on the internet. Our main goal today is to hopefully give people a better idea of what WeNano is, what it isn't, and what we hope to grow into. A very top level view of our platform breaks down to us being an independent currency distribution platform which enables anyone in the world to be able to give to any person, community or cause in the world with the least amount of friction as possible.The main method of navigation on our platform is via the world map which displays all the different Spots that real world users have set up to help distribute what we and our users believe to be one of the easiest decentralized currencies to transact with: Nano. This has enabled so many individual users to distribute Nano to anywhere in the world without worrying about fees, delays, or technical difficulties. We have also caught the attention of globally focused charities that are looking to harness the power of decentralized digital currency to better meet the needs of their respective clients. We have so many plans for this platform and are incredibly happy and proud of the great support we have received so far from both the Nano Community and the crypto community as a whole. To help get into the details of what we have going on we have a few of our core team members here to help answer some questions. u/Tipanano - Anders - Founder u/Sbhuson - Scott - Lead Backend Developer u/Benlo_0 - Ben - Brand / Communications Manager You can download the app for Android or iOS by following visiting our site here: wenano.net We'll be on at 4:00 pm EST/ 1:00 pm PST to start answering questions. So without further ado, Ask us Anything! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Aug 2021 09:02 PM PDT Having sat through my share of stock market dips and dives, I find hodling easy. I can't tell you the number of times I've told my wife to relax, it's not like we need the money tomorrow, the market will bounce back. And it always does, and it always grows. A few decades of that. Now we're in good shape, and I plan on working awhile yet because I enjoy what I do. I wanted to mention that some of us really do understand the tech, we're open to new things, we're old as fuck but still vital, and we're in it with you. We're no more pleased with the old guard than you are. We're not all on our knees blowing Trump or re-electing dinosaurs just because they're old, too (there aren't many options out there to begin with). So please, try to qualify the boomer bashing with "most" boomers don't get it. I'd agree with that. Most of my friends my age think I've lost it going in on crypto. Fuck 'em. But I've had plenty of younger folks who can't even make change for a dollar if the cash register doesn't tell them how. It's not all about age. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Aug 2021 06:06 PM PDT I can't tell whether the following comments in their subreddit are hilarious or sad. Either way I hope they all come out of this with a valuable lesson. "$3000 has turned into $600. Its unbelievable. One of the worst decisions I have ever made" "I don't get why we're dropping when crypto as a whole is way up." "$4000 left of my $12k. Selling now. Goodbye sweet whales, you won't be taking the rest of your lucre from me…" "You are exactly what a bad investor is. Fomoed in on the hype and now fomoing out again. I guess you dont even understand the fundamentals of this token. But its your money and your decision man, goodbye 👋" "Imagine starting with $300k, it going to $4.5M and back down to $450k. Saying this for a friend…. Volume has dried up. Crypto is in a full blown bull run and my largest holding is blood red every GD day." "How can we still be going down in this market?" Only invest what you can afford to lose guys. And ffs don't waste your money on shitcoins [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Your dollar just lost 5.2% of its value in buying consumer goods, in 1 year. Posted: 13 Aug 2021 11:05 PM PDT Consumer Price Index (CPI) inflated 5.4% in 1 year from June 2020 to June 2021. The Fed plans to print 65.9% more US dollar bills in 2021 from 2020 - Which is $430B. And this is only just paper currency. The national debt increased $2T in the span of a year. M2 U.S. money supply has has increased 26% since February 2020 to 2021. Bitcoin up 300% since last year. https://www.federalreserve.gov/paymentsystems/coin_currency_orders.htm [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Aug 2021 06:07 PM PDT Hello all! We hear a lot of times the importance of Tokenomics and doing your own research but what do those things actually look like? Well I will tell you about how I 'missed the bull run' by investing in a project I believed in and how I am currently reaping the rewards. This starts of course… with a biz post. Now now now biz has a lot of problems but I found Antshares in 2017 on there (NEO) in the single digits, I also found NANO on there below 0.01 which I threw $100 in and was valued at like 10,000 at its height and of course we all know they are home to the link marines. This story however begins in early February when I saw a post about a project called DxSale. I put all this info together myself unless specified to not just tell you about the project but to show the level of detail needed to gain conviction in my investment. What is DxSale? DxSale ($SALE) is a blockchain agnostic decentralized platform where anyone can launch their new project and the developers have little to no control over launches. DxSale's goal is unlike other launchpads in that they are not a curated launchpad (no vetting of tokens being launched) and do not require the developers launching the project, or buyers of potential projects to hold $SALE to participate. On it's face this appears as a negative as it doesn't incentivize holding the token. However it aligns with their goal, to be a decentralized launchpad where anyone can participate and prospective investors are responsible for doing their own research. In addition to their launchpad they currently also have DxLocker which is a product used to lock tokens either for set period of time or according to a vesting schedule which gives investors the assurances and visibility of when developers can sell their tokens or deplete the liquidity pool. In addition, they have plans for additional products with DxSwap, DxNFT, and DxFarm to come in Q4. The DxDev's said two new Dapps should be available with V3 by end of September. Not much is detailed about their plans for these items but in conversations with the developer he mentioned NFT tools not seen before in the industry. In short, DxSale's goal of being a truly decentralized platform for any blockchain in accordance with the principles of DeFi and cryptocurrency as a whole. Currently they have the following networks available on their platform available for IDOs and available to utilize DxLocker.
Launches There are two parts of the launchpad standard token launch or DeFi launches. Standard token launches are pre-defined contracts where DxSale retains ownership of the contract and compared to the DeFi launchpad are relatively safe. The majority of token launches however are taking place on the DeFi launchpad. This is where anyone can launch their DeFi project and where we have seen projects like SafeM00n etc. launch. Yes reddits favorite coin was the 8th project to launch on DxSale. When Binance smart chain launched. The developers implemented BSC onto their platform in a little over 2 weeks. This platform has exploded they have had over 15,000 projects attempted launch with about 1,000 meeting minimum funds raised needed to finalize. This is where things get interesting from a revenue prospective. DxSale's cut:
Revenue Streams:
"Why the hell do I give a crap about how much revenue they're generating"
"What all these shitcoins I've been hearing about are coming from here?! How have I not heard of this? And they have a token?"
Who are these devs?
This is where the fun begins Tokenomics and revenue.
Now lets take a look at revenue (these graphs were put together by members of the community from analysis tool)
Total amount of projects that have attempted launch (1 BNB Fee each)
Amount of money left for buy and burn from fees $1,297,006 Amount of project tokens remaining to be sold for buy and burn $2,048,006 (Actual dollar amounts higher, taken snapshot before this past days price rise) In conclusion As I and the community have observed the platform just keeps increasing in popularity even through the mini bear market we just had. I have been seeing these numbers all along and that's why I decided instead of trying to swing trade other projects to just hold SALE for now. Before buy and burn SALE was trading at NEGATIVE 4x earnings annualized… which is ridiculous. With the amount of revenue for buy and burn sitting in the current wallets spending it all now would push $SALE over $5. Now consider that weekly revenue has been outpacing weekly buy and burns. Therefore I am very comfy holding my SALE based on analyzing the Tokenomics, tracking the projects progress, chatting with the devs, and building relationships in the community of whom I consider friends. Am I saying you should buy $SALE? NO, I'm saying I really don't give a shit if you buy SALE hell no one else has to buy SALE the revenue will keep the token price increases and the community of SALErs and I cruise to the moon. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| I’d just like to take the time to say thank you to you all Posted: 14 Aug 2021 02:19 AM PDT First time post here but I just want to thank you all for being such a great community. Today is the first day that my crypto has gone into the green and it feels so special. It's been a rough few months checking it and wondering when/if I'll ever see that beautiful green but the positivity and enthusiasm of this sub has really inspired me to hodl! I may be on a small profit now but I'm going to keep a hold of it, thanks to you guys and girls I have real faith in the future of crypto, so thank you all again! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reminder: Check your PC for hidden miners Posted: 13 Aug 2021 02:50 PM PDT Hello all, Let me start by saying that I am a regular guy with average knowledge of PCs. I can not code but I can manage my way with computers. However my PC got infected with stupid hidden miner that was almost impossible to delete. I could not believe that it happened to me. And I still don't know how I got infected. I spoke with a close friend of mine who told me there are several types of these hidden miners. What makes them nasty are few things. First of all, the hackers can set up the virus to use just a small percentage of the CPU/GPU so that the fans don't make the usual "brrrrrrrrrrr" when the CPU is at 100%. Secondly when you open the task manager the virus stops so you can't actually detect it. And finally even after quarantine and removal it still manages to pop up and infect the PC. As far as I know (it's basically what my friend told me) it only works on Windows and not on Mac. Well I still can't figure out how I got it (maybe via "friend" just like covid "ha-ha") but anyway. Check your temps and fans speed and open Task manager. If you notice a significant drop after you open Task manager - congrats you are positive for hidden miner [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Seriously guys, you guys making money from crypto makes me happy, no matter what coin it is Posted: 14 Aug 2021 12:23 AM PDT All of you guys either say ADA good or ADA bad, and express your love or qualms for BTC and ETH, and even love or hate the Safemoon or Doge investors, and the Moon boys, and I start to see some tribalism, which I dislike. As long as you make money I'm happy, you guys are holding crypto and that's what matters and you guys are adopting the soon to be huge financial breakthrough of the world, I'm not gonna be shitting on your investments. Reach your moon :) [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summation of what happen today in crypto... Posted: 13 Aug 2021 01:41 PM PDT Taken from Kraken's Daily Hash email: Poly Network Hacker Returns Nearly All of the $611M in Stolen Funds
Polygon Acquires Hermez in $250M Deal That Includes First-Ever Token 'Merger'
Argentina Open to Adopting Bitcoin, Says President Alberto Fernandez
Crypto Bits & BytesBitcoin
Ethereum
Mining
Non-Fungible Tokens (NFTs)
Decentralized Finance (DeFi)
Regulation and Policy
Central Bank Digital Currency (CBDC)
Data Analytics
[link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| “Investments are for rich” is what I thought before I found crypto Posted: 14 Aug 2021 01:05 AM PDT Let me introduce myself, Im a broke ass millennial with 2 kids and a shitty day job as garbage disposal guy. I also do opportunity jobs here and there for some extra bucks. From when I was little I was under the impression that investing is not for people like us who barely make it through the month. My friends back when I was younger were rich and they were always mocking me why I dont wear nicer clothes, cooler shoes, have better bike or whatever bull. When you are little it hurts. Its not pleasant at all. Now I dont give a single fuck about vanity and having designer bullshit clothes or whatever but back then it was a shitty place to be. Anyway investing in stocks, bonds and such was always somehow out of my reach. Crypto really changed that. My first investment was $10 in ADA and that grew nicely over last year. Since then Ive been slowly investing 10-20$ a month depending on how much I can afford to save. Now I have a nice small portfolio of crypto that O believe in. I treat crypto as a fund for my kiddos to be able to live a better life and so that they wont need to work at a degrading job like I do. Truly, if you saw how people treat you as a garbage disposal guy, youd cringe. And this is why in my opinion is the winning point in crypto. Anyone, even poor people like myself, can invest whenever and wherever they want. 5$ or $50000, it can be done with a single little click. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Aug 2021 05:18 PM PDT THE STARS! ⭐⭐⭐⭐⭐ Forget the moon...To all of you who are hating on ADA, the new Cardano Alonzo update is set for September 12. Will the Smart Contracts Make a difference in price? You better believe it. ADA has been working on smart contracts and new use cases for many months. The Cardano team has taken their time and doing the job right. Those of you that have doubted ADA might want to take another peek. What price do you see coming End of Year? Edit: Those of you who hate Cardano can downvote all you want. I'm enjoying the ride! Bullish! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Who else doesn't trust this subreddit for real information anymore? Posted: 14 Aug 2021 03:08 AM PDT I mean, it's still my favorite board and moons have really made it even more interesting, but in the back of my mind I always think about moon bias when reading something. Like when some big news hit (ada for example) so many posts came up, that it's hard to tell real information from moon farming. Not necessarily bad, just a random shower thought 💠[link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 14 Aug 2021 03:13 AM PDT I know thousands of posts have been made about him but i havent seen anyone say this, might probably be wrong so take it easy one me. Lets say his seed phrase is lost and those million bitcoins will be there once and for all. No one will ever learn his true identity and his legend will live forever.. Or maybe he wants to be considered dead i dont know this probably seems a good way to remain unknown... [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Longs vs Shorts, leverage, margin and liquidations explained for beginners Posted: 13 Aug 2021 12:11 PM PDT In this post I'll be touching on what exactly long and short positions are, how they impact the market, margin trading and what happens when liquidations occur. Hopefully this post will help newer investors who may be unsure surrounding these terminologies. If anyone is interested in previous past posts please see:
BACKGROUND At times you may hear people say whether they're long or short on the market. This is basically just terminology to say whether the trader believes the market will go up or down. LONGS Long positions aim to make money as the market rises and means the trader has a bullish sentiment. Long positions are essentially just buying the asset and only requires you have the amount to actually buy the asset. This means your profit loss can be a maximum of 100% as the asset can only go as low as 0 but the profit range can be unlimited SHORTS Shorting the market aims to make money as the market declines and means the trader has a bearish sentiment. The criteria is a bit more complicated than a long trade as the account needs to be a margin account (same applies to leveraged longs). In essence, when you place a short trade you are borrowing the assets from the broker and aim to sell and then to buy back into the market at a lower price so they can pay back the borrowed amount and also make a profit. Short positions are more riskier due to the fact the losses can be technically unlimited and the profits only 100% as the lowest an asset can go is 0. To use an example, I believe the price of an asset will decline from its current price of $10, so I put in a short position and borrow 1 unit of that asset from the broker, I'm correct an the price falls $5. I believe the market has bottomed out so I close the short position which means I buy back into the market and give back the borrowed asset to the broker. In this case the price at the time of opening the position was $10 and price at closing $5 meaning I made a $5 profit. However, using the same example, I was wrong and the price increases from $10 to $15 and I close my position, I buy back into the market at a more expensive price meaning I will be at a $5 loss. HOW CAN I VIEW LONGS VS SHORTS DATA Here's a resource to give you an overview of longs vs shorts on different exchanges and give you an indication of the sentiment amongst traders in the market: https://www.bybt.com/LongShortRatio WHAT IS LEVERAGE Leverage is essentially the ability to use a small amount of capital to borrow a larger amount of capital. In terms of everyday use this could be from putting down a deposit for a house and receiving a larger mortgage or in terms for the financial markets it's to allow more exposure to an asset. This means you have the ability to gain more profits with less capitals but the risk is that your losses can be more than your initial amount you put in. An example would be you've leveraged $10,000 with only $500 (20x leverage multiplier) and the price goes up 20%, you've made $2,000 and the risk would be if the market drops 20% and that $10k turns into $8k, you've just lost $2,000. The multiplier here is essentially how much leverage you use. MARGIN TRADING Now that leverage has been explained, margin trading can now be discussed. As I mentioned within the longs and shorts that margin accounts will be needed for this case because you need to have money in your account in case the position turns against you. An example here would be if you wanted to open a $10k position and the margin requirement was 5%, you would need $500 in the account. Depending on the asset you may need a higher margin requirement due to the volatility, and you get this margin back once you close the position plus any profits or losses. DIFFERENCE BETWEEN LEVERAGE AND MARGIN Basically the margin is the amount of capital required to open a position and leverage is is the multiple of exposure to that asset. An example would be a margin requirement for $1,000 worth of an asset is $100, therefore, you would have a 1:10/10% margin (and 10x leverage). WHAT IS A MARGIN CALL A margin call is basically when you are not allowed to take on any more risk, and your account is at risk of being forcibly closed (liquidated). The point you are on margin call is when your asset (balance + unrealised profit & loss) is equal to your margin requirement. LIQUIDATIONS A forced liquidation happens when a trader can no longer meet the margin requirements of their leveraged position. An example to put all this together can be i want to go long on BTC/USDC and open a $200 position and use 20x leverage giving a $4,000 position. If the market drops by 5%, your initial $200 initial margin to open the position has been exhausted already. If you cannot meet the margin call to cover further losses and to keep the trade open then your position will be at risk of liquidation, and if the margin ratio reaches the liquidation limit, the position will be liquidated. Traders tend to try and prevent liquidation from happening, by monitoring margin, adding more margin to their trade, using stop losses or using lower leverage. However, at uncertain times such as a flash crash, these can happen very quickly and even more so if a trader is using higher leverage and can create a daisy chain effect of mass liquidations. Here is a resource to view current liquidations across exchanges: https://www.bybt.com/LiquidationData RISKS It's important to realise leverage and other derivative products are complex financial instruments and although are a high risk high reward method, more traders lose their positions than they do profit from them. Just for statistical examples although not crypto related: 67% of traders lose money with CFDs on eToro and 76% of retail CFD accounts lose money on trading212. FLASH CRASHES AND SHORT SQUEEZES The final section will just briefly mention that flash crashes tend to happen due to unprecedented liquidations of long positions which causes the market to tank as it requires those positions to close and sell. Short squeezes are the opposite where the price goes parabolic as short positions are liquidated and are forced to buy back into the market causing the market to rise. As always any topics you want covered just let me know. The following are topics I have on my list:
[link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 14 Aug 2021 12:46 AM PDT There has been no progress made in terms of their crypto options, wallets, trading , and coins for Robinhood. They announced back during the GME and doge craze that they were going to be allowing wallets but nothing has come out of it. Coinbase has been adding dozens of coins, expanding DeFi options, and allowing staking on multiple coins. By keeping your crypto on Robinhood it is being held prisoner to an exchange more concerned with their status surrounding their IPO and not competing with other crypto exchanges. Kraken, Crypto.com, and Binance also all have much more support for wallets and getting the most out of your investment. Also, there are hidden fees with Robinhood involving buying and selling crypto as they set their prices higher/lower than market and still claim they are feeless. Do the right thing and get your crypto on an actual wallet by moving your funds out of Robinhood. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 14 Aug 2021 02:30 AM PDT Some of you may remember the dark days of the covid March 2020 crash where stocks crashed 65% and crypto crashed 40% (remember, crypto was already in a crypto winter at this time). If you were good enough to buy at the very bottom here's how you would have fared across numerous stocks and crypto assets if you bought $1,000 worth. I've listed the winner for each section and in total. I've listed the low in March 2020, current price, total gain and how much your $1,000 would have become today. Note, I've excluded anything that didn't exist in March 2020 and stablecoins. Stocks are selected from top market cap list. If you'd like to see any other crypto coins or stocks in a future post drop your request in the comments. tl;dr: Crypto has destroyed Stocks across every single category including overall market by 5x. The best performers across all assets were crypto. Tesla was the only stock that achieved crypto-level gains. Overall Indicies/Markets:
The Behemoths and Mega Caps:
The Top 10 and Large Caps:
[link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 14 Aug 2021 02:17 AM PDT I can't lie I am sucker for hoddling no matter what happens. I am fully aware of the notion of "take profits" but I want to hold long term, so I choose to leave things as they are. This argument has been exhausted especially in the Stock Market and the result is that there is not much difference over the long term between the two strategies. So with all this green I see, my motto is monkey hold banana monkey no let go. [link] [comments]  |
| You are subscribed to email updates from Cryptocurrency News & Discussion. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment