Bitcoin Thread

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HavocXphere said:

/biz/ - Hey guys, insider here. For those of you that are - Business & Finance - 4chan

Hey guys, insider here. For those of you that are not busy mumu/bobo larping, and paying attention, ... - "/biz/ - Business & Finance" is 4chan's imageboard for the discussion of business and finance, and cryptocurrencies such as Bitcoin and Dogecoin.
boards.4channel.org boards.4channel.org
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This ties in with the China FUD theory. They were all panic selling while America was asleep. America saved crypto today, Elon included.

This story, if true, tells a very harrowing story of China's ability to manipulate crypto markets. Until we grow, this will be a considerable risk going forward. Any theories and models will likely be useless from today.
 
My 2c. Long term I'm super bullish but I don't see an immediate recovery for this bull run from BTC. Bounce to $47k max to test the neckline of the head and shoulders pattern that broke down and then down to test $30K again. Alts are going to bleed dry. The US stock markets are on the verge of collapse, which crypto can not hide from. I thought we could hit our bull run peak before the stock markets tumbled but that went to sh#t today.

If the markets crash then there is no crypto bull market and it's time to get ready to buy. Look at this chart of the S&P500. It's screwed. Even if you aren't a trader you can see its getting right near the end of the bearish rising wedge pattern which is the very latest that we should see decisive price action, and it won't continue going up... Rising wedges generally dump hard and it looks like it must break by around end of June. It JUST closed inside today. Thoughts?

s&p500.png
 
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And here I was thinking I bought the dip

I've been converting some of my coins to USDT.. Does anyone have a preference for one stablecoin over another? I read something about DAI being the most decentralized which sounds like a good thing?
 
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humbledryer said:
And here I was thinking I bought the dip

I've been converting some of my coins to USDT.. Does anyone have a preference for one stablecoin over another? I read something about DAI being the most decentralized which sounds like a good thing?
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personally not a fan of any algorithmic stable coin, literally just digitizing and automating central bank style manipulation by growing / shrinking supply to maintain price stability

what remains is basically those stable coins linked to actual reserves, mostly USD reserves, and of those only one is regularly audited and transparent about their reserves and therefor is my preference: USDC
 
NarrowBandFtw said:
personally not a fan of any algorithmic stable coin, literally just digitizing and automating central bank style manipulation by growing / shrinking supply to maintain price stability

what remains is basically those stable coins linked to actual reserves, mostly USD reserves, and of those only one is regularly audited and transparent about their reserves and therefor is my preference: USDC
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They all seem to have their quirks. I'm still torn between USDC because of what you said and DAI because it can't be blocked or frozen. USDT is possibly a scam? Just what I've found in 10 mins of reading so I stand to be corrected.
 
NarrowBandFtw said:
personally not a fan of any algorithmic stable coin, literally just digitizing and automating central bank style manipulation by growing / shrinking supply to maintain price stability

what remains is basically those stable coins linked to actual reserves, mostly USD reserves, and of those only one is regularly audited and transparent about their reserves and therefor is my preference: USDC
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My pref https://blog.trusttoken.com/trustto...collaboration-with-chainlink-and-584b3674b89f

bitcoinexchangeguide.com

BitcoinExchangeGuide

bitcoinexchangeguide.com bitcoinexchangeguide.com
 
DAI requires arbitrage traders to step in and keep it stable in times of high volatility. That might work out fine for a long time, until one day it doesn't, and things start to fall apart. Think it might have even happened once before if memory serves. When blood is flowing down the streets, and traders frantically moving their holdings around like yesterday, i feel like there will come a day when everyone kinda just forgets. Purely speculative theory though.


S&P500: rising wedge at ATHs, with RSI bouncing around on the low end. Doesn't seem great. Biden painted them into a corner with ridiculous QE. Now they can't even afford to put their own interest rates up because of their own debt levels.

I can't even imagine how many dollars of people's stimulus checks went straight into crypto, further devaluing the dollar. These are also the types of people who would've been panic selling yesterday, realising 60-70% losses, further devaluing the dollar. In fact one could speculate that this crypto crash could be the catalyst for a bad day on the stock markets today, as salty Americans wake up to lick their wounds and liquidate some assets to cover their tax bills. Let's see.

This will be an interesting year, that's for sure.
 
Barbarian Conan said:
What's the best coin to use for inter-exchange transfers? XRP?
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I use XRP, its quick and fees are low. Yesterday it cost me R1.54c to move 5k worth of xrp from Luno to Binance. Took about 10 min usually its quicker but I think the exchanges where getting pounded with all the chaos yesterday
 
Barbarian Conan said:
What's the best coin to use for inter-exchange transfers? XRP?
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It depends.

If you moving small amounts xrp is typically fine. Small being less than 5k zar.

The moment you get into serious money 50k upwards exchange volumes seriously matter.

Xrp from luno to binance fine binance has mega volume. Otherway round is a potential issue. But also buying up the xrp you are paying a serious premium sa side due to lack of liquidity

The order book might not be enough to give you top price for 50k plus so you immediately lose out when you want to cash that out.

So be careful....
 
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