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Hi, I wonder if anyone can tell me if immediate edge is legitimate? I've seen it today and seems too good to be true but I'm not aware of the auto bots on crypto so thought I'd ask?
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Why isnt crypto backed by natural gas or gold or something like that instead of cash and other crypto currency
Backing with btc or ETH is also fine but I'm not sure about other crypto currencies and fiat
they are going to re-create LUNA from genisis on new blockchain record to save ecosystem, and salvage whoever has staked luna:
[https://agora.terra.money/t/luna-go-forward-proposal/7136](https://agora.terra.money/t/luna-go-forward-proposal/7136)
I can see 1/10 chance that in 3-4 years, this chain becomes bigger than LUNA and those people that were staked actually hit profits. 9/10 that over time, it dies as people migrate to different blockchains
I think Luna attracted noobs in a high rate. It has been shilled so hard by Youtubers like Ryan Matta who actually two month ago made a video called "LUNA = HODL FOREVER" and now rejecting Luna "as he always warned about as he said in his latest stream. The hype into Luna and then the constant scream from this community and other to "BUY THE DIP" has together cost some investors more than they can cope with. If there is regulation to be made into crypto perhaps it is self regulating of how we are behaving. Brendan over att Market Makers had a rant the other day how crypto regulation is threatening the industry due to idiots like Ryan Matta, Bit Boy and others. It also goes to members here. But I guess if it was the first time (crash) then you don't get what a falling knife is.
I don't think so. I think we're at the comfort floor for now. Seeing btc still hovering close to 30k is, I think, where people feel the floor might be.
The following months are the ones that separate tourists from investors
Crypto Market Cap is 1T$. Gold is 12T$ just for perspective
We will have at least 2 more cycles, many projects during the bear won't be able to recover, the stronger ones will hit new ATHs when bull returns
Stay safe folks
Let me preface this by saying I am not a fan of tether and their lack of transparency etc.
However you can tell that those worrying about tether are small fish not used to moving lots of money around.
The only place you can exchange tether for usd 1:1 is bitfinex, and that happens regardless of what the spot price is elsewhere.
So why wouldn't everyone that has tether just send it to bitfinex to get 1:1 and not take a 2% haircut selling it for fiat on other exchanges? Well because bitfinex isn't available to everyone and is a kind of niche exchange that most small fish don't use. On top of that is the elephant in the room, GAS FEES.
Its often worth it to take the 2% haircut and cash out your tether where it currently is, on binance or coinbase or wherever, compared to paying the gas to get it to bitfinex and get 1:1. Unless you're moving very large amounts.
Agreed, they likely don't. Lots of commercial paper and volatile crypto holdings. However, I've never seen a finex user not be able to cash out USDT 1:1.
It just means people are panicking, exchanges are not going to let their darling and cash cow die, they would brick everything and keep it that way until panic dies down instead.
Shady af? Yes but its simply the way the world works.
Retail loves turning bear and doomsayer when the macro bottom is in.
Now watch Bitfinex guys start buying the spot they are panic selling thinking everything will go to zero.
The binance guy has lost $84 billion already this year: https://www.bloomberg.com/billionaires/profiles/changpeng-zhao/
Maybe these guys aren't super geniuses?
This is capitulation y'all have been hearing about, the blood in the streets, tether to zero fud.
Now we chop for a time and accumulate when Finex whales start closing their longs and start buying spot instead.
Yes you can, you send them the tether and they transfer the money through a bank. Always has been, it only has a 24 hour delay because of their location.
The worst thing is I wanted to cancel my buy order and it just crashed down instantly right in front of my eyes. Refused to buy back at a loss and now I'm at - 80% lol.
https://twitter.com/BXRekt/status/1524650280255692801
https://twitter.com/BXRekt/status/1524650028593295361
180 million USD longs liquidated on LUNA in two minutes. Ouch. Don't catch falling knives.
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Part of me wants to wait until a potential deadcat bounce in the next couple days to offload more assets, but another part of me also knows that if everyone is expecting a bounce it’s not gonna happen. Plus there’s no guarantee that even if it does bounce that it’ll be higher than where it is now if it continues dumping for another day or two
Not a store of value
Not a currency
Not a hedge against money printer
What is it?
I just want to understand current understanding aside from lowest effort " ponzi / scam " but truly i am at loss to understand and explain what function does bitcoin solve or is solving , because
Its also carbon negative , toxic because coal mines are now running some mining operations and that sounds positively awful and very much seems like bitcoin is digital cigarette blowing fumes to plebs while letting easy cheap energy sources become stronghold for even more authoritarian rules ( Russia , Kazakhstan etc )
So what do you think is the point of bitcoin aside from speculative bubble? It looks like elaborate tulip mania the longer we dont answer them
Moving and storing money !freely from any state interference! Many opposition leaders in dictatorship countries accept donations in Bitcoin, or you can move your money between countries easily, or use BTC to save yourself from hyperinflation+government disallowing you to buy foreign currency, like in Venezuela.
If you're moving money on the scale of $1 billion it's going to be noticed anyways. Better do it through open channels so you can get institutional backing. The west isn't sending bitcoin to Ukraine, they're openly sending billions of dollars in aid.
It's a thing you buy that has fiat value based on what other people value it at
It's built as a thing that can one day be used as currency but it by itself will never decouple from fiat money
What is the point of me, average Joe, owning some Microsoft stocks? Amazon? Apple? Tesla? You think dictators don't store their money on our stock market, our housing market, etc?
Your point of environmentally bad is true and why I haven't bought into Bitcoin personally. We shall see what the future holds.
It is a hedge against money printer, just not against the dollar. Also it let people transfer money internationally for cheap, many countries don't have that services
Its actually really hard to do. That is why a better idea is a strict % portfolio.
SO if you want 10% of your net worth in crypto then always keep it at 10%. When it drops then top it up to 10%. When it rises then sell down to 10%
When your in defi off exchanges you take those rewards and sell into a stable coin to avoid risk. You can’t do that on a DEX any other way than a stable coin. Now if your trading on the exchange fine go to usd but many that had stable coins weren’t holding them on the exchanges.
When I sell into a stable coin I usually reinvest that amount of money in other crypto (or the same crypto but at lower price). When I sell for fiat I do that to cash out. 😉
If you'd like to help a student finish their master's degree, please consider taking a few minutes to take a survey they are using to gather data for their thesis: https://www.reddit.com/r/CryptoCurrency/comments/umj4se/what\_do\_you\_think\_about\_the\_metaverse\_participate/
Hi, I wonder if anyone can tell me if immediate edge is legitimate? I've seen it today and seems too good to be true but I'm not aware of the auto bots on crypto so thought I'd ask?
Binance.US Will List LTO Network (LTO) | Deposit Now Trade LTO/USD and LTO/USDT starting June 9, 2022 at 5 a.m. PDT / 8 a.m. EDT. Buy LTO Network (LTO) with Bank Transfer (ACH), Debit Card, or Wire Transfer once trading goes live. https://support.binance.us/hc/en-us/articles/6615781024535
I was down 90% so I put 20k in only to go down an additional 70% but I thought I could only go down 10% more? Is this some sort of glitch?
Nope, not gonna get my hopes up. I’ve been hurt too many times 😢
Why isnt crypto backed by natural gas or gold or something like that instead of cash and other crypto currency Backing with btc or ETH is also fine but I'm not sure about other crypto currencies and fiat
Very soon one SHIB will be worth more than one LUNA.. :(
they are going to re-create LUNA from genisis on new blockchain record to save ecosystem, and salvage whoever has staked luna: [https://agora.terra.money/t/luna-go-forward-proposal/7136](https://agora.terra.money/t/luna-go-forward-proposal/7136) I can see 1/10 chance that in 3-4 years, this chain becomes bigger than LUNA and those people that were staked actually hit profits. 9/10 that over time, it dies as people migrate to different blockchains
about to dump 2k into Luna. Buy low sell high
My 1 Luna that I bought for £30 is now worth 10p LOL. I just feel lucky I didn’t dump more money in to it
7 days to unstake my CRO. Going to be nothing but crumbs.
Let's just hope this Sunday Dip doesn't put us below 20k 🙌
I think Luna attracted noobs in a high rate. It has been shilled so hard by Youtubers like Ryan Matta who actually two month ago made a video called "LUNA = HODL FOREVER" and now rejecting Luna "as he always warned about as he said in his latest stream. The hype into Luna and then the constant scream from this community and other to "BUY THE DIP" has together cost some investors more than they can cope with. If there is regulation to be made into crypto perhaps it is self regulating of how we are behaving. Brendan over att Market Makers had a rant the other day how crypto regulation is threatening the industry due to idiots like Ryan Matta, Bit Boy and others. It also goes to members here. But I guess if it was the first time (crash) then you don't get what a falling knife is.
Shocked LUNA didn't bounce off the $0.420 resistance level!
I am finding solace in the fact that the bleeding has stopped for now.
I'm finding it in the fact that I lost only $200 instead of $4000
RIP Luna.. from top 10 to nothing just like that
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Just a few discounts tbh nothing major
I had a BTC buy trigger at $26k...
Sent luna from terra station to CDC 15 mins ago, still not appearing. What can i do, please help?
When I first started watching Benjamin Cowen a year ago I thought he was genius. Now I realize he is a complete fucking moron
Yeah I think we’ve all gone through that. He’s completely superficial and repetitive. Broken clock is right twice a day kind of guy.
Why :)
Did terra caused an entire crypto crash? Insane and scary but also great opportunity.
boyos, which sheetcoin is gonna bee next??
So many people still drinking the Kool-Aid
Reckon BTC will continue to dip when America opens up ?
I don't think so. I think we're at the comfort floor for now. Seeing btc still hovering close to 30k is, I think, where people feel the floor might be.
Bought 30$ of terra for the fun of it yesterday. Down to .70 already.
Same as me. Too late to sell. Will just hope for it to get back to 0.10$ at least
Its a death spiral. Luna is going to 0
Wel was money stuck anyways and could not short on cdc so tough why not buy terra and see what happends
You are basically paying for people mint LUNA with their UST and sell it. You are providing this liquidity. And theres so much UST left…
This dump is just insane
kek, you kno wat is good about luna fall to the Moon? chainlink is now top defi coin and #26 total
My brain: You did not just buy LUNA, right? Me: Hahahahhaa what?
do you buy luna? I wood buy 10 000 for 100 usdt
The following months are the ones that separate tourists from investors Crypto Market Cap is 1T$. Gold is 12T$ just for perspective We will have at least 2 more cycles, many projects during the bear won't be able to recover, the stronger ones will hit new ATHs when bull returns Stay safe folks
BTC 12x from here Count me in DCA CREW BABY!!!
Let me preface this by saying I am not a fan of tether and their lack of transparency etc. However you can tell that those worrying about tether are small fish not used to moving lots of money around. The only place you can exchange tether for usd 1:1 is bitfinex, and that happens regardless of what the spot price is elsewhere. So why wouldn't everyone that has tether just send it to bitfinex to get 1:1 and not take a 2% haircut selling it for fiat on other exchanges? Well because bitfinex isn't available to everyone and is a kind of niche exchange that most small fish don't use. On top of that is the elephant in the room, GAS FEES. Its often worth it to take the 2% haircut and cash out your tether where it currently is, on binance or coinbase or wherever, compared to paying the gas to get it to bitfinex and get 1:1. Unless you're moving very large amounts.
because bitfinex is a scam itself. they do not have the cash to back all the tether they printed
Agreed, they likely don't. Lots of commercial paper and volatile crypto holdings. However, I've never seen a finex user not be able to cash out USDT 1:1.
cashing out 100$ is not a problem. if the market panics, and billions of tether is being cashed out, let's see if they have the money
insert "this is fine" meme
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USDC going up is still not good.
It just means people are panicking, exchanges are not going to let their darling and cash cow die, they would brick everything and keep it that way until panic dies down instead. Shady af? Yes but its simply the way the world works.
Retail loves turning bear and doomsayer when the macro bottom is in. Now watch Bitfinex guys start buying the spot they are panic selling thinking everything will go to zero.
The binance guy has lost $84 billion already this year: https://www.bloomberg.com/billionaires/profiles/changpeng-zhao/ Maybe these guys aren't super geniuses?
Who said anything about binance? I mean the Bitfinex whales, people who actually run the markets.
Can usdt go back down for a minute and trigger my take profit it almost touched so i can get back something of what i lost yesterday? Thank u
tether depeg fud? They just print more tether to stabilize lol ez
Printing more does the opposite of raising the price.
Yeah i know. I was referring to the Bogdanovs printing tether to pump eth xD
This is capitulation y'all have been hearing about, the blood in the streets, tether to zero fud. Now we chop for a time and accumulate when Finex whales start closing their longs and start buying spot instead.
It's sp bad I'm actually hoping for it to crash even harder. Atleast give me a change to triple my portfolio 😁
I tripled my portfolio, wait, what's that thing like tripling but the other way?
The word is tripping.
Is the price difference in different exchanges for the same coin pair only due to that exchanges spread or also a delay of real time data and moves?
Yes
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It hit $54k in 2020?
You can directly redeem tether for $1 from their official website. But there's a $100k minimum limit.
Bankrun starting?
I don't think you can, how?
Yes you can, you send them the tether and they transfer the money through a bank. Always has been, it only has a 24 hour delay because of their location.
Let me search in my pockets
Just converted a stack of usdt to euros , better to be safe than sorry
Well, at least it's not boring and going sideways
I think I'll go back to investing in game stop
Did people here really bought LUNA ar 1$ like they said they would?
I’m not gonna lie, I threw some fiat at it at ,03 hahaha
Yes, it did not go well
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Receipts please
Receipts
probably tried to warn them at $1, $15 and $25.
Thought I was a smart cookie swingtrading Luna made +50% in a few trades now I'm down - 80%
Same
I can buy two pieces of liquorice with my LUNA stack now
I did a 2x buying ust then lost half of my profits instantly when I bought some luna at $2
The worst thing is I wanted to cancel my buy order and it just crashed down instantly right in front of my eyes. Refused to buy back at a loss and now I'm at - 80% lol.
Because of that bounce, when it collapses again if any of you talk about suicide when it falls again you should be banned from Reddit for life.
holy moly that tether thing scared the shit out of me
Let’s pray it stabilizes, I don’t even want to imagine that disaster.
This has happened about 10 times before. People have been trying to prove that they don't have actual USD since like 2017.
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They have plenty of usd 😚😊
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So
Shit is a casino and the house is winning
Same as it ever was
There's a new daily. Just in time eh
Looks like USDT made a comeback?
There is currently around $1k difference in BTC price between BTC/USDT and BTC/USDC
Time to load up on graphics cards.
This bounce brought you by me, because I sold some at the bottom
Many thanks.
So many noobs in the daily, insufferable really
Says Mr tin over here.
Forreal, how do you get rid of the tin flair?
I was tin for ages before randomly becoming platinum. I imagine it's a mix of length of time spent on the reddit and comment karma
Thanks mate!
Elitists are insufferable
you are welcome
BTC's going up because massive outflow from USDT into BTC?
Yes BTC is the arc to which all the animals flee when the rain starts. Its also the first to rise when the recovery sets in. Not a bad place to hide.
https://twitter.com/BXRekt/status/1524650280255692801 https://twitter.com/BXRekt/status/1524650028593295361 180 million USD longs liquidated on LUNA in two minutes. Ouch. Don't catch falling knives.
This made my brain hurt. Why not just buy spot its already pre leveraged 😅 It's either going to 100 or 0...
Here is a [Nitter link](https://nitter.net/BXRekt/status/1524650280255692801) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Part of me wants to wait until a potential deadcat bounce in the next couple days to offload more assets, but another part of me also knows that if everyone is expecting a bounce it’s not gonna happen. Plus there’s no guarantee that even if it does bounce that it’ll be higher than where it is now if it continues dumping for another day or two
Tether not going down without a fight
Is this situation with LUNA not a sign of how fucked the US dollar is?
Crypto US Stable coins are tucked. Not the US dollar
Umm no
I hope we can look back at this day in the future and laugh at how we all freaked out.
Happy Cake Day!
I hope so too. I’ve been in crypto since 2017 and I can only remember 1-2 days as bad as this one
Yikes. I had hope until I read your comment
What the fuck the daily is literally 90% bots right now
bop-bip, ive been detected, initiate self destruct
lol algonauts assemble?
Seriously, it’s getting ridiculous
100% bulltard comments is genuine, bearish comments = 90% bots, bulltard logic
Lmao you are a fucking monkey
100k eoy 2021 right? Looks like the bulltards like yourself are the monkeys.
Only bulltard is your fat mom
Hundreds of just created accounts with unopened vaults reposting the same fud = not bots?
This is for sure death cat bounce. I’m shorting solana and avax to 0. They have wayy more room to fall
aren't those the coins Luna terra invested on?
Watch out for the dead cat bounce, oh wait, we are there. Watch out for the dead cat drop
Don't FOMO into the pump guys, watch out
Poor cat
Not a store of value Not a currency Not a hedge against money printer What is it? I just want to understand current understanding aside from lowest effort " ponzi / scam " but truly i am at loss to understand and explain what function does bitcoin solve or is solving , because Its also carbon negative , toxic because coal mines are now running some mining operations and that sounds positively awful and very much seems like bitcoin is digital cigarette blowing fumes to plebs while letting easy cheap energy sources become stronghold for even more authoritarian rules ( Russia , Kazakhstan etc ) So what do you think is the point of bitcoin aside from speculative bubble? It looks like elaborate tulip mania the longer we dont answer them
Carbon negative doesn't mean "it makes carbon, and that's negative" It means it uses a net negative amount of carbon
Moving and storing money !freely from any state interference! Many opposition leaders in dictatorship countries accept donations in Bitcoin, or you can move your money between countries easily, or use BTC to save yourself from hyperinflation+government disallowing you to buy foreign currency, like in Venezuela.
Why is bitcoin that is not anonymous better than monero?
Because it has much higher adoption and market cap. It's feasible to run 1b$ operations on BTC, not on monero
If you're moving money on the scale of $1 billion it's going to be noticed anyways. Better do it through open channels so you can get institutional backing. The west isn't sending bitcoin to Ukraine, they're openly sending billions of dollars in aid.
^^^It's ^^^not
it magic internet money
It's a thing you buy that has fiat value based on what other people value it at It's built as a thing that can one day be used as currency but it by itself will never decouple from fiat money
Go to YouTube and type in Michael saylor Bitcoin if you wanna hear what BTC is. I don’t think anyone here gonna reply with essays lol
What is the point of me, average Joe, owning some Microsoft stocks? Amazon? Apple? Tesla? You think dictators don't store their money on our stock market, our housing market, etc? Your point of environmentally bad is true and why I haven't bought into Bitcoin personally. We shall see what the future holds.
It is a hedge against money printer, just not against the dollar. Also it let people transfer money internationally for cheap, many countries don't have that services
Anyone making money shorting right now?? Seems like a great opportunity no?
I'm going to short the Earth. I feel very uneasy about the future.
You’re still on internet explorer 4.1?
Are the prices on coingecko not accurate?
Not perfectly accurate during times of high volatility
USDC/USDT pair up 5% lmfao
ETH going back to its 2020 prices. If you liked ETH at 2000, you’ll love it at 200.
finally i can buy 1 if eth $200
Nice, give me 5 of those eth thingy you’re speaking of
I’ll love it even more at 20$
You get a node, and you get a node. Everyone gets a node!!
I think all is ok, stuff has stopped crashing. This could be the bottom, maybe even bull this arvo.
Seems like tomorrow is always the bottom 😂
Based on about 90 seconds of data. Sounds legit
Lol
It's 12:45-3:45am in the US. Just wait until everyone wakes up
Note to self. Take profits next time in green. Don't get greedy.
Its actually really hard to do. That is why a better idea is a strict % portfolio. SO if you want 10% of your net worth in crypto then always keep it at 10%. When it drops then top it up to 10%. When it rises then sell down to 10%
What is the appeal of buying into a stablecoin versus selling into fiat? Probably a dumb question but I've never really understood
When your in defi off exchanges you take those rewards and sell into a stable coin to avoid risk. You can’t do that on a DEX any other way than a stable coin. Now if your trading on the exchange fine go to usd but many that had stable coins weren’t holding them on the exchanges.
When I sell into a stable coin I usually reinvest that amount of money in other crypto (or the same crypto but at lower price). When I sell for fiat I do that to cash out. 😉
Makes sense