Bitcoin....who's gotten into it?

[bennymac]

^thanks for posting that

[dunfree]

I participated in the dotcom bubble on both the long/short side. IMO crypto is very similar.

When you say "half of crypto/buttcoin bullshit is people looking at the suck of us banking and not seeing the problem is institutional not technical, the other half is libertarian brainworms"; I feel you're conservative. I feel that most of the cryptotwitter BS is sunk-cost fallacy and sales/marketing yoga-babble gabfest.

However, the small percentage of blockchain tech that succeeds will have outside returns.

That Proshares short fund will be for short term trading; the time decay on their positions will be outrageous.

whatever tech solution that solves the problem will make $$$. I’ve no idea if that is blockchain. None of the dialogue (including mine) is of much predictive value for the future. Most of its bullshit, lots of it is not even wrong because it’s so far removed.

[summit]

Having dumped NVDA and COIN at the right time, I can now throw small change at BITI, BTC Short ETF

https://www.coindesk.com/business/20...-list-on-nyse/

[My Pet Powder Goat]

Having dumped NVDA and COIN at the right time, I can now throw small change at BITI, BTC Short ETF

https://www.coindesk.com/business/20...-list-on-nyse/

I guess you're allowed to have an opinion than

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[stalefish3169]

Having dumped NVDA and COIN at the right time, I can now throw small change at BITI, BTC Short ETF

https://www.coindesk.com/business/20...-list-on-nyse/

Welcome, to another edition of Thunderdome!

[shera]

byates, what's your opinion on the CEL short squeeze?

[byates1]

^ unaware. From what little I've seen sounds like Celsius is done? Just a matter or time.

[shera]

^ unaware. From what little I've seen sounds like Celsius is done? Just a matter or time.

Hopefully Celsius is not done! I have funds there. They are paying down loans every day, reducing exposure to liquidation. Anyway, there are a lot of shorts on FTX and low liquidity due to low number of tokens, so the squeeze is on, mob trying to buy spot and remove to cold storage. GME shenanigans (naked shorting) shouldn't be possible, but I dunno. I'm not involved with it, just watching.

[frorider]

From what I’ve seen on twitter #CELshortsqueeze, the celians are optimistic they can fight off the shorts but there’s an undercurrent of ‘let’s pull together and get cel solvent enough at least temporarily so that we can withdraw our money & GTFO’.

[shera]

yes

[4matic]

What’s the difference between an attack (sell) and an engineered short squeeze (buy)? Both seem nefarious but that’s what makes a market .

[shera]

Well the shorts started it, and I despise shorts. So I call the squeeze fighting fire with fire.

[4matic]

Well the shorts started it, and I despise shorts. So I call the squeeze fighting fire with fire.

The shorts added to it. If it wasn’t vulnerable it wouldn’t have gone down

[shera]

Celsius became vulnerable through a concerted scheme to generate fud by competing parties. I saw it with my own eyes on twitter. Created a bank run. You can't have liquidity and yield simultaneously, they are contradictory. That's the vulnerability.

Don't you think so?

Well maybe you are just talking about the shorted token...not the whole drama.

[stalefish3169]

Update on this.


https://www.youtube.com/watch?v=p-X-mIuDYFw



https://twitter.com/Schuldensuehner/...IlWdPQhmQ&s=19

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[JimmyCarter]

Celsius became vulnerable through a concerted scheme to generate fud by competing parties. I saw it with my own eyes on twitter. Created a bank run. You can't have liquidity and yield simultaneously, they are contradictory. That's the vulnerability.

Don't you think so?

Well maybe you are just talking about the shorted token...not the whole drama.

The vulnerability was their entire business model. That’s not on the shorts, that’s on the company.

[dunfree]

It was a feature before it was a bug though


meanwhile..,,,,

[schuss]

The vulnerability was their entire business model. That’s not on the shorts, that’s on the company.

Yep, being foundationally over leveraged and unstable is a failure of basic fiduciary duty.
Question: if this is nefarious, doesn't that make the similar attacks on that hedge fund with GME nefarious?
Or is it only nefarious when it doesn't fit the narrative?

This is how cutthroat financial trading works, especially in momentum models.

[4matic]

Because it’s wreckable

[stalefish3169]

All this exchange hypothecation and degenerate trading firm leverage is making a great case for BTC's long-term value proposition. It's the ultimate digital bearer instrument. No trust required.

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[dunfree]

All this exchange hypothecation and degenerate trading firm leverage is making a great case for BTC's long-term value proposition. It's the ultimate digital bearer instrument. No trust required.

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lol

[Tri-Ungulate]

All this exchange hypothecation and degenerate trading firm leverage is making a great case for BTC's long-term value proposition. It's the ultimate digital bearer instrument. No trust required.

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i'm a financial illiterate and don't understand big terms like "exchange hypothecation" and "degenerate trading firm leverage" but it sounds cool, so I'm all in on what you're saying. "No trust required."

You recommended Luna, how much should I invest?

[up an down]

All this exchange hypothecation and degenerate trading firm leverage is making a great case for BTC's long-term value proposition. It's the ultimate digital bearer instrument. No trust required.

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So crazy it's beyond parody.

[MakersTeleMark]

i'm a financial illiterate and don't understand big terms like "exchange hypothecation" and "degenerate trading firm leverage" but it sounds cool, so I'm all in on what you're saying. "No trust required."

You recommended Luna, how much should I invest?

#moonstop ftwz

[4matic]

Now that the word is out that bankman-fried is white knighting it becomes a target to see how deep he’ll dig.