Over to you crypto fanboys

[GrandPapillon]

Crypto is a game, you can play it like our resident FX trader does, with no belief, just pure strategy

 

or you can believe in fairy tales and think it will replace all world currencies eventually ????

 

some people need an education in finance and economics, and not confused "fads" with economic reality

[mjnaus]

Ok, just purely for entertainment value: let's see what spin the braintrust on TV is going to give to this: "El Salvador makes Bitcoin legal tender" https://www.reuters.com/world/americas/el-salvador-approves-first-law-bitcoin-legal-tender-2021-06-09/

 

I put my money on:

1. "Chinese mafia and Ukrainian hackers ...." (fill in the dots with whatever you'd like)

2. "Mainstream media? You're seriously going to believe that nonsense?"

3. "El Salvador is run by idiots who do not understand that money simply can not be created by a CPU."

4. "El Salvador? That's not even a real country!"

 

Edited June 10, 2021 by mjnaus

[Heng]

I'd move for something like that too if I was El Salvador.   A move that has virtually no cost but significant potential upside.   If we don't profit by it, what did it cost us?   Just another day in congress (or whatever they have there) playing Candy Crush.      Malta did the same with crypto. Vanuatu, St. Kitts, Belize, Costa Rica, etc. did the same with legacy banking.

[GrandPapillon]

22 hours ago, fdsa said:

I've attached a PDF several posts above - FBI in fact got access to their online wallet, not to their server.

double post

Edited June 10, 2021 by GrandPapillon

[fdsa]

 

 

so true :D

[OishiRefill]

I tried waves.exchange and put some assets into their algorithmic trading bot (a system where the platform carries out buy and sell orders on behalf of the investor). It was very profitable over the past two months or so but just lately (the past week) there have been substantial losses.

 

Anyone here been involved in this stuff?

 

This is the exact web link to the system I talk about.

 

https://waves.exchange/investments/algorithmictrading/USDT

 

Advertises APY (annual gains) of just over 100% when depositing USDT (Tether US dollar stable coin).

 

Anyone know of alternative algorithmic trading bot service providers? Preferably a bot which can short as well as just long! This waves bot seems to only buy! Not ideal in a mid-term bear market.

[OishiRefill]

18 minutes ago, OishiRefill said:

I tried waves.exchange and put some assets into their algorithmic trading bot (a system where the platform carries out buy and sell orders on behalf of the investor). It was very profitable over the past two months or so but just lately (the past week) there have been substantial losses.

 

Anyone here been involved in this stuff?

 

This is the exact web link to the system I talk about.

 

https://waves.exchange/investments/algorithmictrading/USDT

 

Advertises APY (annual gains) of just over 100% when depositing USDT (Tether US dollar stable coin).

 

Anyone know of alternative algorithmic trading bot service providers? Preferably a bot which can short as well as just long! This waves bot seems to only buy! Not ideal in a mid-term bear market.

 

 

The performance (advertised/stated performance) of the bot for USDT investments is here in my screen capture.

 

The current "dip" does not look so significant I admit. But the fear comes from what has happened this week with their other bots. I will find the records of their other options and post here. The only bot to not lose too bad is this one.

Edited June 13, 2021 by OishiRefill

[OishiRefill]

8 minutes ago, OishiRefill said:

 

 

The performance (advertised/stated performance) of the bot for USDT investments is here in my screen capture.

 

The current "dip" does not look so significant I admit. But the fear comes from what has happened this week with their other bots. I will find the records of their other options and post here. The only bot to not lose too bad is this one.

 

Here. See what situation those who invested either BTC directly or ETH have had to deal with the past week or so. Presumably due to the fact that their bot can't short. Only long. 

 

 

 

The above is the ETH trading bot which is advertised as APY (annual gains) of 125%

 

 

and the above is their BTC trading bot. Advertising gains per year of 105%. Just look at those losses which investors are having to feel the pain on right now. And the double whammy is this; not only did those investors lose due to the drop in price of the asset itself (whether that be ETH or BTC) but the value (in ETH or BTC) has dropped for them in terms of the token which they received upon investing. 

 

Any takes on all of this????

Edited June 13, 2021 by OishiRefill

[OishiRefill]

Perhaps I should have started a fresh thread on the topic of crypto/Bitcoin investment opportunities but I saw this thread on crypto and thought it might fit.

[GrandPapillon]

if you like animations, here is one for ETH and BTC and how BLC moves around from trades

 

https://txstreet.com/v/eth-btc

[Heng]

$39,535 a coin right now feels nice.  ????   

[fdsa]

8 minutes ago, Heng said:

$39,535 a coin right now feels nice.  ????   

that's 35% fall from the recent $60'000! it is a dead cat bounce! next stop $20'000

still 650% rise from last year's $6'000 :)

 

[Heng]

19 minutes ago, fdsa said:

that's 35% fall from the recent $60'000! it is a dead cat bounce! next stop $20'000

still 650% rise from last year's $6'000 ????

 

 

Glad you added that note in the fine print.  Almost sold everything just now.  ????

[GrandPapillon]

and things get better and better for cryptos ????

 

The Meltdown of IRON

https://irony-97882.medium.com/the-melting-of-iron-89469b01e083

[fdsa]

11 hours ago, GrandPapillon said:

and things get better and better for cryptos ????

that feel when you didn't buy years ago. Not even 1 (one) year ago ????

[GrandPapillon]

was never interested in the first place, not even 10 years ago, and never bought a lotto ticket despite some poor guy winning 100m EUR every other week ????

 

I like to put money into better investment, in things I believe, and not taking bets with fraudulent scheme ????

[mjnaus]

16 hours ago, GrandPapillon said:

and things get better and better for cryptos ????

 

 

Ah yes; the fact that one <deleted> coin appears on the scene and gets rekt, surely must mean that the entire industry is a fraud and its demise is, of course, 100% certain (just as it was 10 years ago). You're so smart ????

[GrandPapillon]

6 hours ago, mjnaus said:

 

Ah yes; the fact that one <deleted> coin appears on the scene and gets rekt, surely must mean that the entire industry is a fraud and its demise is, of course, 100% certain (just as it was 10 years ago). You're so smart ????

Well I am not buying into fairy tales, just common sense, not being smart.

 

What does that say about those believing in fairy tales ????

 

bigger fool theory, look it up ????

[Susco]

On 6/14/2021 at 2:25 PM, Heng said:

$39,535 a coin right now feels nice.  ????   

 

Sorry, what you said the price was?

 

[Heng]

1 hour ago, Susco said:

 

Sorry, what you said the price was?

 

 

What me, worry?

[Pravda]

Have fun staying poor!

[nausea]

I keep reading bad things about Tether. Puts me off investing. It's really anybody's guess where this is going to go. Of course, the early investors are laughing. Blockchain technology has obviously changed the world, but who will win out is far from obvious. 

[Surelynot]

Just now, nausea said:

I keep reading bad things about Tether. Puts me off investing. It's really anybody's guess where this is going to go. Of course, the early investors are laughing. Blockchain technology has obviously changed the world, but who will win out is far from obvious. 

Regardless of all the expert analysis and commentary, at the end of the day this is a gamble.....a huge gamble for some.

 

I bought in over ten years ago........took out my original stake and I am now playing with house money.......today still hurt (a lot).

 

No one knows if and when this will turn around or when we will get another spike....it could be 5 years away.....or never.

[Pravda]

26 minutes ago, nausea said:

I keep reading bad things about Tether. Puts me off investing. It's really anybody's guess where this is going to go. Of course, the early investors are laughing. Blockchain technology has obviously changed the world, but who will win out is far from obvious. 

 

Tether is a massive scam.

 

 

[mjnaus]

40 minutes ago, nausea said:

I keep reading bad things about Tether. Puts me off investing. It's really anybody's guess where this is going to go. Of course, the early investors are laughing. Blockchain technology has obviously changed the world, but who will win out is far from obvious. 

Tether is a stablecoin; it is pegged to the USD. Hence, assuming a USD cost base, “investing” in Tether does not make much sense (regardless of whether or not it’s a scam). Tether is mainly used in Latin America as an alternative for actual USD as well as moving between different crypto assets.

 

The problem with Tether is that is supposed to be a fully collateralized stablecoin; as in every unit of Tether is, supposedly, backed by an actual dollar in a bank account. The problem with Tether is that they haven’t really been forthcoming with disclosure of the collateral they have to back outstanding Tether. Recent disclosures show only about 3% actual dollars; make of that what you will (the numbers can easily be found through Google).

 

If you’re on the market for stablecoins, there are much better alternatives such as USDC (fully collateralized and publicly audited by well respected accounting firms monthly) and DAI (on chain,

fully collateralized).

Edited June 22, 2021 by mjnaus

[fdsa]

the largest problem with Tether is that all cryptocurrencies' prices are pumped with printed out of thin air Tethers, not with the real USD transferred by investors to crypto exchanges' bank accounts.

[Heng]

I'm surprised the Tether 'issue' doesn't get much attention.    Just a handful of articles and Youtube clips.  Not much in terms of 'real news.'  

[fdsa]

because nobody wants to hear the "real news", you know :D

 

 

[nausea]

11 hours ago, Heng said:

I'm surprised the Tether 'issue' doesn't get much attention.    Just a handful of articles and Youtube clips.  Not much in terms of 'real news.'  

 

The elephant in the "crypto" room, maybe? 

[The Cipher]

This thread has gone on long enough that I kind of wonder if it would be fun to meet up for a beer coffee.

 

But given the recent price action, we'd better do it soon while I can still afford one.