Are you sure they are going to be destroyed? If it was Nvidia or AMD doing this promo then I can see them being destroyed to keep a tigger supply and they would get more sales since gamers might buy new instead of used.

However this is only ASUS doing this. If they destroy the GPUs there is some benefit for them by reducing supply but they would also be helping out the rest of the GPU manufacturers at the same time and I don’t think they care whether their competition gets sales or not.

For example if you trade in your phone at your cell phone provider, they will most likely send it to auction since they only make money off the service.

If you trade in your phone at Apple store then they might destroy it or use it as a refurbished models for warranty purposes to keep supply tight.

I don’t think any regular technical analysis indicator will help you. You need market sentiment to trade. You need something to filter out bad signals.

Basically at any time there are indicators that say to go long and also to go short. Doesn’t matter what you are trading. You need a filter. I think with crypto the best filter would be a liquidation chart. Usually when there is massive liquidations there is a good chance of a reversal. That along with volume and you would filter out a lot of bad trades.

Well if you read what the fed wants is they want lower inflation basically at 2%. And they also want a good economy. Pretty much a soft landing. However there is a feedback loop.

If there is a tight labor market then inflation will always be at risk. Because to find workers employers need to pay them more which comes at a cost to the customer. So inflation increases.

So if the fed wants to fight inflation then they need higher unemployment , how do you do that without causing a recession ? It’s very difficult.

It’s depends on the macro. And honestly nobody knows where we will go. We got the estimate for next weeks CPI at 0.5% which is high however the YoY is lower. Will this be bearish?

Now we will most likely get hawkish fed hints of another hike in March. Even after he said they will pause hikes. However he said he will pause before the high employments numbers and most likely high inflation. The next FOMC will most likely be a risk off event.

Well recessions are generally by surprise. Nobody expects a recession when it happens.

Right now, everybody and I mean everybody is talking about a recession. So this leads me to think it won't happen and this "soft landing" by the fed might be actually possible. What is preventing a recession right now is the tight job market. Even though inflation is high, people are still working and looking for higher paying jobs and that's why everything is still functional. If the job market doesn't crash then we might get a soft landing.

However the way it looks right now, with next week CPI, it might indicate that the fed needs to raise interest rates even higher. And doing so will create even more problems for the job market. So its impossible to say whether or not we will get a recession.

In my country, most people live pay check to pay check. They got savings but these are considered retirement and they are locked in or if you want to withdraw there is a big penalty.

Most people living in North America have a net worth which is negative. If you have a net worth of $0, you are considered lucky because you don't owe any debt. Mortgages, cars, cell phone plans, credit cards, line of credit, etc. These people are slaves to their debt and will be paying it for the rest of their lives. Hence why many are suffering now due to growing inflation.

I am not surprised. They have been doing this for years.

In the past a buddy of mine bought some R9 290 GPU on alibaba because it was "super cheap". It arrived and looked legit. Had a box labelled r9 290 and everything. However upon installation it was something like an R9 270. He complained and got a refund.

They do this because they know that most experienced gamers won't be buying any china brand GPUs. They do this because they hope that some newbie buys this and doesn't notice its a generation lower than displaced and since it still works in games, they don't complain.

Only way how there will be some coins or token which will be very profitable is if the US government declares all tokens as securities. Then no project will go the ICO route due to the regulations and will go to POW.

Right now. There is little reason for a new token to go POW. They would much rather do ICO and make tons of money holding the majority of the tokens then do a POW without instamine and then have to buy their own tokens on the exchange.

I think it is smart. Because many people don't want to go thru the hassle of selling their old GPUs on eBay or on Facebook market place and dealing with the headache. Generally what they will most likely do is take the GPU and they will be auctioned off and some resellers will be bidding on those.

They do this with smartphones. Its a good way to upsell people a new phone. Obviously you sell for less than selling it privately but many people don't want to sell electronics second hand because its a pain dealing with certain buyers. You know how it is. You want $100 for a phone and they offer you $20, because "its got 1 scratch I gotta replace screen for $80", etc.

And this is also proof that GPU sales must be suffering.

Yes it would impact cryptos because we are risk on like stocks. However the question is whether this cross will actually work out. In the past whenever we got these MA crosses it sometimes worked and sometimes was a nice trap. So pretty much works 50% of the time. And at that point you pretty much can just use another indicator.

I don’t know if you are new to trading or not but one thing I will tell you is that you can’t trade on technical analysis alone. It barely works 50% of the time. Remember. If it was just as simple as looking at a pattern, wouldn’t everybody do it ?

It doesn’t work that way. You need to use more indicators and sentiment. When we are very bullish then there is a good chance a bullish pattern will work. If we are bearish then most likely a bullish pattern won’t work and vice versa. You need to get a general sense of what the market is doing and then use TA to enter a trade.

Back in the late 90s and early 2000s I’ve met and heard about tons and tons of people who became very rich because they were early investors in Microsoft. These days you don’t really hear about it. Part of the reason is maybe because when the bubble dust it took over a decade for Microsoft to break its ATH.

But it was pretty much the equivalent of buying Bitcoin early. Just like buying Tesla when it went public. One thing you need to keep in mind is that most would of sold with a 100% or 300% gain. Many never held it this long since IPO. Same with Bitcoin or the Ethereum IPO.

Well so far it does seem like a soft landing. The inflation numbers are down. Everything was going good. Crypto and stocks had a great January however then we got the horrible employment numbers. The labor market is still very tight. And the fed doesn’t like this.

Tomorrow there is going to be a conference and we will see what he says.
Most likely he will say we need to wait until CPI in the middle of feb. After that we should get a good gauge what the following fed rate will be. Bonds are always dumping as a result of this news.

Well most people I know they basically went back to offline ordering. Many just go to a store now instead of ordering online. The Amazon driver when I asked how busy they were, they said it’s much slower now compared to last year.

However it’s still the largest marketplace. They just had a big boost due to Covid and had to hire many people and had to purchase large warehouses. Now that Covid is over they need to scale back. Plus with the recession looming many are saving money instead of buying items they might not need.

Yeah I was trading during the NY session when all of a sudden we got a big dump. However after a few minutes it’s stabilized and traded sideways for most of the session. So I am guessing since we didn’t have a -20% day then it’s not that important.

It affects 0.5% of people. So it’s not major but you do wonder why it’s happening. Could be a bad sign if other exchanges start to do this also. FTX really messed up our industry with all their shenanigans.

When it comes to crypto. None of those methods will actually make money long term.

The best method is just by looking at volume + liquidation charts. Usually when there is massive liquidations in same area, there is a great probability ill reverse in that area. Its the age old "Price always hits my stop and reverses". The trick is to get in with the smaller stop loss possible and hold as long as possible.  This works better during the non-NY sessions because that session is usually just correlated with stocks. If stocks pump so will crypto and same for vice versa.

Usually works best during Asia and London session and sometimes after NY lunch.

I think its the other way around with ASICs. If there is a profitable algo, some company like Bitmain will spend millions developing the ASIC chip to make an ASIC possible. They did this with dual mineable coins like DCR and SIA because the profitability was there.

However they will not create a coin out of scratch just to make an ASIC for it. It takes millions to fabricate these chips these days. Its only worth doing on algos which have decent profitability. I think newer technology for ETH Dagger algo will be halted. Most likely all the chips which were fabricated to the day it went ETH POS will be put into production. But in the near future I don't think anymore money will go into the developement of more efficient ETH ASICs because the profitability just isn't there.

Neither.

The old trader who is experienced and profitable, why would he teach you ? What does he gain exactly unless you are a close friend or family member. He can just take a few trades himself and go golfing for the rest of the day. Why waste your time to teach new people to trade? Obviously they do it because they want money from their coaching. However why teach trading, when you can just trade and make more money that way?  Hence why many of these trading signals from "gurus" are nothing but scams to lure new traders.

And a new trader will never make you profitable long term. They usually make good money in a bull market and when the markets peak they end up losing all their money. Its very easy making money in a bull market, anyone can do it. The trick is to survive the bear markets which most people can't.

We in Canada don't have an egg shortage according to "Big Egg Canada" but I can see it becoming a problem because whenever I go to the  grocery store people are stocking up on eggs and it'll create these artificial shortages.

This is more or less what happened with toilet paper back in 2020. People read about it on the news and they panicked and bought everything within the same week and thats how the shortages happened. An imbalance of logistics and anything can become scarse. So this is why even me, which barely eats many eggs, I try to stay stocked for the next month or so. However they expire so you can't buy too much of it.

Another Tether fraud thread?

You guys dont realise but in the past few months stablecoin companies have been making a killer by basically doing nothing. There is over $100B in stablecoins. And most of these are held in short term government bonds.

So if interest rate stay the same, these issuers are making over $5B a year in interest alone. This is a huge cash cow for them. And even if they were a little insolvent, they are most likely solvent by now with the amount they made in interest payments alone.