Bitcoins/Litecoins/Virtual Currencies

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Arden

Arden

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Got some geopolitical stuff on the horizon making people more risk averse too. Otoh, crypto tends to moon when we get rate cuts, which look pretty certain for Sept at this point. So might be a good time to buy.

I'm holding off bc I'm actually more concerned about Iran/Isreal than anything else atm.

Edit: Ha btc falling off a cliff as we speak. I wouldn't even know when to enter at this point. Thank God I've been through a couple of these already.
 
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Haus

Haus

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Yeah, I'm getting a real foreboding feeling about the markets tomorrow... I think this is the canary not only falling over, but also catching on fire. heh
 
Flobee

Flobee

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Oblio said:
Wut?
Click to expand...
Zerohedge article I posted a few posts back has some more context. Somebody got caught offsides on the Japanese Yen carry trade and got liquidated. Seeing cascading liquidations from that right now. Allegedly
 
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Haus

Haus

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Flobee said:
Zerohedge article I posted a few posts back has some more context. Somebody got caught offsides on the Japanese Yen carry trade and got liquidated. Seeing cascading liquidations from that right now. Allegedly
Click to expand...

Leaves me to wonder who exactly is a big enough fish to have their being "caught offsides" cause an over 5% drop in markets across the globe and cratering the entire crypto segment.
 
Edaw

Edaw

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There are conflicting reports it was Jump Trading that caused the crypto sell-off. I haven't read anything definitive.



Screenshot 2024-08-05 at 08-14-42 shaquille o'atmeal on X So... Apparently a miner sold everyt...png
 
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Flobee

Flobee

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We'll see when the dust settles but worth remembering that Bitcoin/crypto trades 24/7 so its often the first thing sold to cover unwinding positions in the traditional market.
 
Sanrith Descartes

Sanrith Descartes

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Just want to point out that if leverage was removed from the markets and you could only buy/sell what you had cash to cover, markets would work amazingly well. Its the leverage that's the debil. Always has been.
 
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Mario Speedwagon

Mario Speedwagon

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Sanrith Descartes said:
Just want to point out that if leverage was removed from the markets and you could only buy/sell what you had cash to cover, markets would work amazingly well. Its the leverage that's the debil. Always has been.
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Imagine how awful the world would be if the only purpose of the stock market was to encourage investment into companies with good products and services and the only transactions available were buying and selling whole shares with cash on hand, and leverage, derivatives, options, and other “financial instruments” did not exist. I’m getting chills just thinking about it.
 
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Flobee

Flobee

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Mario Speedwagon said:
Imagine how awful the world would be if the only purpose of the stock market was to encourage investment into companies with good products and services and the only transactions available were buying and selling whole shares with cash on hand, and leverage, derivatives, options, and other “financial instruments” did not exist. I’m getting chills just thinking about it.
Click to expand...
Ugh, and what if you took physical custody of the stock certificates? Disgusting
 
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Seananigans

Seananigans

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Holy shit a system intended for ownership in companies toward the goal of returns from said companies in the form of dividends? But not as a speculative market or store of value proxy because your money is inflatable garbage?

What the fuck dystopia are guys discussing in here?
 
Arden

Arden

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1 - Copy.png


Homeboy is going from extreme crypto skeptic to bull really fast. We'll see what he says if he's elected...
 
Mist

Mist

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Mario Speedwagon said:
Imagine how awful the world would be if the only purpose of the stock market was to encourage investment into companies with good products and services and the only transactions available were buying and selling whole shares with cash on hand, and leverage, derivatives, options, and other “financial instruments” did not exist. I’m getting chills just thinking about it.
Click to expand...
It's a fantasy. We've all played enough games to know that any system that allows players to get ahead by making better decisions than other players will devolve into a degenerate state without constant rules changes. And as long as there exists players who are better at leveraging the rules than the people making the rules, the rule changes will be very ineffectively at limiting their ability to continue getting ahead in the game.

In the history of MTG, the competitive game with the most complicated rules (over 200 pages of legalese, even AI sucks at it) there exists three kinds of players:

People who play to have fun.
People who play to prove they're smarter than their opponent.
People who play to prove they're smarter than the people making the game.

(Okay there's a 4th secret kind of player, Commander players, who play to prove they're morally superior to other people at the table while being smug as fuck, but let's not talk about those people. Actually, those people are kinda like crypto nerds, so maybe we should.)
 
Tmac

Tmac

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Mist said:
People who play to have fun.
People who play to prove they're smarter than their opponent.
People who play to prove they're smarter than the people making the game.

(Okay there's a 4th secret kind of player, Commander players, who play to prove they're morally superior to other people at the table while being smug as fuck, but let's not talk about those people. Actually, those people are kinda like crypto nerds, so maybe we should.)
Click to expand...

Most games come down to “who” you’re playing against. You could shift perspective and recategorize the players:
1. People who play against the environment. They’re just happy to be here.
2. People who compete against other players. It’s fun to outdo their neighbor.
3. People who play against the devs. They find it fun to “sploit” the game and have fun min/maxxing. Similar to #1 but definitely more try hard and a completely different group.
 
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