Detournement Posted June 20, 2022 Share Posted June 20, 2022 13 hours ago, Zetterlund said: It's just guessing at this point. Apparently over $250m of shorts killed today with the price bounce. As as I said before as soon as it becomes profitable enough the big players can liquidate retail short sellers at will. 0 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted June 20, 2022 Share Posted June 20, 2022 (edited) 4 hours ago, Suspect Device said: Surely shorting an incredibly volatile thing is as much of a gamble as buying it? Nobody 'knows' what is going to happen to crypto. Aside from the philosophical quandaries over the nature of "knowledge" Even if you did know what is going to happen you'd also have to know when it's going to happen. Edited June 20, 2022 by topcat(The most tip top) 0 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted June 20, 2022 Share Posted June 20, 2022 1 hour ago, Detournement said: As as I said before as soon as it becomes profitable enough the big players can liquidate retail short sellers at will. Yup, and who knows what kind of funny business the exchanges themselves get up to. If traditional finance platforms like Robinhood are selling customer order data to institutions then you can be sure it goes on in crypto too. 0 Quote Link to comment Share on other sites More sharing options...
Satoshi Posted June 21, 2022 Share Posted June 21, 2022 22 hours ago, Suspect Device said: Surely shorting an incredibly volatile thing is as much of a gamble as buying it? Nobody 'knows' what is going to happen to crypto. Shorting it is even more of gamble than buying it. And you're right nobody knows, which is why bitcoins death has been reported 100s of times. Should put the predictions of some people on this thread into context. -2 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted June 21, 2022 Share Posted June 21, 2022 (edited) Bitcoin is up this morning. 3.1% to over 17 grand (sterling) Edited June 21, 2022 by Suspect Device 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted June 21, 2022 Share Posted June 21, 2022 3 hours ago, Suspect Device said: Bitcoin is up this morning. 3.1% to over 17 grand (sterling) It's almost turning into an equities tracker (in direction terms). Not sure how this happened with what is supposed to be decentralised finance. 0 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted June 21, 2022 Share Posted June 21, 2022 A cyprocurrency firm is looking to take over Sunderland. https://rokerreport.sbnation.com/2022/6/21/23175610/a-journey-into-cryptoland-where-a-sunderland-takeover-is-welcome-as-long-as-we-mind-our-manners 0 Quote Link to comment Share on other sites More sharing options...
Arch Stanton Posted June 21, 2022 Share Posted June 21, 2022 Interesting clicking on the xe.com link in the OP. You can slide your finger along the historical rate chart and see in 2013 1 bitcoin was little over $89 to its meteoric rise to $65k in October last year. 1 Quote Link to comment Share on other sites More sharing options...
beefybake Posted June 21, 2022 Share Posted June 21, 2022 (edited) On 20/06/2022 at 02:08, Satoshi said: It was more of a reflection of the certainty of people on this thread on the value of cryptocurrency continue to crash (to zero I guess eventually?) And if this is your viewpoint then fair enough, you could have made (and could still make) a fortune short selling it. And even short term market manipulation would be overcome in the long term. It's not a policy I would advocate, quite the opposite, for me the chances of cryptocurrency values rising again are incredibly high (far greater than 95%) so this is a period to wait out and periodically buy. Crypto has had worse crashes that this, and it will probably have worse again in future (with a shorter cycle). Plus ça change, plus c'est la même chose. Which does raise the question of how often does a dead cat bounce ? When it has lots of hot air in it, probably many times. Edited June 21, 2022 by beefybake 0 Quote Link to comment Share on other sites More sharing options...
carpetmonster Posted June 21, 2022 Share Posted June 21, 2022 I'm by no means an expert in all this, but I remember reading a few months back that the cost of mining a bitcoin was around $27k, and that was before energy bills started going into the stratosphere. If it's unviable to mine more of the currency just now - especially given it has a finite supply, whatever the ceiling limit is - does that create a 'scarcity' demand or is it just gonna flush it if the mining inviability keeps up for a long period? 0 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted June 21, 2022 Share Posted June 21, 2022 (edited) 6 hours ago, carpetmonster said: I'm by no means an expert in all this, but I remember reading a few months back that the cost of mining a bitcoin was around $27k, and that was before energy bills started going into the stratosphere. If it's unviable to mine more of the currency just now - especially given it has a finite supply, whatever the ceiling limit is - does that create a 'scarcity' demand or is it just gonna flush it if the mining inviability keeps up for a long period? The cost to mine bitcoin varies hugely around the world, obviously mainly depending on local energy costs, but cooling needs are another biggie. I read the other day that US mining company Marathon has a cost of $6,200 per coin (I'm not sure where they're located). When bitcoin crashed to $4k in March 2020 very few were mining profitably, although the system is designed to correct itself as the more costly miners go offline and the remaining ones get a larger share of the bitcoin produced. Edited June 21, 2022 by Zetterlund 1 Quote Link to comment Share on other sites More sharing options...
Detournement Posted June 21, 2022 Share Posted June 21, 2022 A good thread that breaks down the DeFI scam. 0 Quote Link to comment Share on other sites More sharing options...
Satoshi Posted June 22, 2022 Share Posted June 22, 2022 (edited) 13 hours ago, beefybake said: Which does raise the question of how often does a dead cat bounce ? When it has lots of hot air in it, probably many times. In Bitcoins case? It's a particularly valuable looking dead cat even now. And if history is anything to go by it will bounce much higher than it ever has before next cycle. Edited June 22, 2022 by Satoshi -1 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted June 22, 2022 Share Posted June 22, 2022 Something you always read when looking at investments is the get out clause/warning. Quote Past performance is not indicative of future results. And where are we in the cycle at the moment? 3 Quote Link to comment Share on other sites More sharing options...
Detournement Posted June 22, 2022 Share Posted June 22, 2022 (edited) James definitely walked off stage and said to Nancy "well it's still better than the last T In The Park". There's at least one guy looking at the stage here. Edited June 22, 2022 by Detournement 0 Quote Link to comment Share on other sites More sharing options...
carpetmonster Posted June 22, 2022 Share Posted June 22, 2022 2 minutes ago, Detournement said: James definitely walked off stage and said to Nancy well it's still better than T In The Park 2016. There's at least one guy looking at the stage here. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted June 22, 2022 Share Posted June 22, 2022 "Tell me how you like it, if I put it right there?" Eh, 2.5 Eth you say, can I pay you in a month? Actually no, forget it, you're alright... https://rarible.com/token/0xc9154424b823b10579895ccbe442d41b9abd96ed:47367540188351612495432463676995587563019383922592567404219863918806931865603?tab=details 0 Quote Link to comment Share on other sites More sharing options...
Theroadlesstravelled Posted June 22, 2022 Share Posted June 22, 2022 (edited) I want to laugh in the face of anyone would bought these. Edited June 29, 2022 by Theroadlesstravelled 1 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted June 30, 2022 Share Posted June 30, 2022 New Episode of the Economist’s “Money Talks” podcast: Crypto Winter is here https://play.acast.com/s/theeconomistmoneytalks/moneytalks-cryptowinterishere 0 Quote Link to comment Share on other sites More sharing options...
Arch Stanton Posted June 30, 2022 Share Posted June 30, 2022 https://www.theguardian.com/technology/2022/jun/29/crypto-crisis-digital-currencies-boom-collapse-bitcoin-terra 0 Quote Link to comment Share on other sites More sharing options...
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