That is true that most people know Bitcoin only for it's sky rocketing price
Because most people that we have in crypto now are new guys (because crypto community grows expotentially), lambo guys who came here to find another doge that will make them rich fast. Thats normal during bubble. No matter which tech this bubble is made from (The Dotcom Bubble, Railway Mania, housing bubble) After the bubble all of them are broken and leave crypto market. Crypto market is made from fundamential investors that day. No one is investing is shiba (x1000 in last month) only because its named after the breed of the dog from DOGE crypto. Decentralization, safety, diversification of well balanced portfolio where you put few% into bitcoin. Thats what's most people do outside of/after mania. |
|
|
|
|
No one use ETC. This project is dead and the fact that even a dead projects are growing is the proof that we are closer and closer to the end of alt seazon. How would you call a transaction in which you buy a dead project only because its price is pumping and maybe it will pump more? Investment? Speculation? No ... Its gambling based on hot potato game. Other call it greater fool theory.
|
|
|
|
So this is my point / doubt: those mechanisms underlying BLVT price definition may even be complex and various but, as long as all this elements are expressed and reflected into one single element (which is price), you can always define your risk clearly and trade this asset as any other ordinary trading asset; and, most importantly: you can always define your risk by observing only one single element, which in this case is price action.
Not margin, not liquidation, not fees: you will observe and base upon price action and price action only.
Is this right?
Yep. Everything is calculated into price. Token is backed by real asset. Binance is constantly rebalancing amount of tokens. You only need to know that you need to subscribe/redeem your funds (max20k per user). Every fees (except trading fees), funding too is transfered into asset price. "iv. Management fees: A daily management fee of 0.01% will be charged at 00:00 UTC and reflected directly in the net asset value of the leveraged tokens; v. Funding fees: Funding fees are paid (or paid to) the underlying fund based on the funding rate and reflected directly in the net asset value of the Leveraged tokens. Binance takes no fees for funding rate transfers; these are directly between traders." https://www.binance.com/en/leveraged-tokens/tokens/allTokensThe only fee that is not reflected into price are Subscription and Redemption fees. "ii. Subscription fees: Subscription fees are charged when users choose to subscribe tokens, which is currently set at 0.1% per subscription. iii. Redemption fees: Redemption fees are charged when users choose to redeem tokens, which is currently set at 0.1% per redemption." It is technically possible for price to go 0. |
|
|
|
Is the loss guaranteed if we hold it for a long period of time??
I still don't understand why
Thats why: It is clear that the risk & reward ratio between them is very high.
If we bet btcup, we only can win 20times, but if we bet btcdown we will lose 300times.
When trend will reverse and BTC will start to dump couple % daily being BTCdown will not gives your 300x. It will give you 30x while Btcup will be under x300 risk. It is explained in the link you already provided: https://www.binance.com/en/blog/421499824684901079/Why-you-shouldnt-hold-leveraged-tokens-longterm-"Leveraged tokens are built to multiply the underlying asset's daily return-the main component to remember here is DAILY. The leverage factor of a token will be reset every day. As a result, the performance of a token and its underlying asset can differ over the long term." If BTC will dump 30% in one day you will lose 90% (100$ left from 1000$ investment). Next day BTC will do +50% (back where it was), you portfolio will do +150% from 100$ (250$). BTC recovered the dump but you are still 75% under water. In long run it sum up to be the worse long term product. |
|
|
|
The only thing that can be risky is that Binance would be hacked and you could lose everything. But Binance being such a big exchange it is hard to imagine that that can happen.
Kucoin was hacked and lost $300 milion of users assets. Collaborated with tether to lock usdt, collaborated with majority of altcoin to fork and lock stolen funds, collaborated with majority of crypto exchange so that they will not accept stolen funds and help in finding hacker (login logs). The rest of funds was covered from insurance. I think that Binance is prepared even better. They have "safu" fund that collect 10% of trading fees to be ready for hacks and users losses due to exchange fault. 10% of trading fees ... Thats ~10-20 milion $ that was moved there just from yesterdays trading. They burned 500 million $ of BNB during last quarterly burn. Thats 20% of profit. Means they have ~4 bilion $ of profit annually. it means they can cover 1 billion $ hack with just 1 quarterly profit. I'm not saying that holding crypto on exchanges is a good choice. I'm only saying that we have like 2-3 exchanges that are safe enough to call holding funds there safer than holding funds on your own wallet if you are not educated enough to know how to take care of it professionally. |
|
|
|
|
Username: Tytanowy Janusz
Post Count: 2808
BTC Address (must be SegWit): bc1qjug9ky34njan84e4mdt2am3krds9czk37vhfsw
|
|
|
|
I don't know, man. I haven't even known much about Dogecoin until Elon Musk started tweeting about it very much. And the price started to increase so much that made me think like it can't do without this manipulation. We will see what will happen if he stops supporting it. If it doesn't go back to its old days, then I'll grant you right.
I didn't said that it wont go back to its old days. Every asset is overestimated now. We will experience 70-90% dump of everything (the only question is ... when it will start. Now or after doing 10x from now. No one knows). I only said that Doge is better than 90% of other crypto assets. If doge pumps only because of Musk tweets. Why ETC, bitcoin gold, bitcoin sv, litecoin, XLM, EOS, neo, lisk and other dead projects are pumping too? I don't know, man. I haven't even known much about Dogecoin until Elon Musk started tweeting about it very much.
Small sample error. The fact that single person (you named only yourself as example) didn't know about doge before musk tweets does not mean no one knows about it. Doge has 8 years... From the chart that I posted (and you quoted) we can see that it was not dead untill musk tweet. It was stable at 20 sat with multiple pumps to 50-100 sat. It was the most popular faucet coin, gamling coin. "3- Doge is one of 3 most used coins on crypto casinos and similar sites 4- Doge is one of 5 most often available coins if you want to use crypto as payment" |
|
|
|
|
1-For sure move it out of hotbit as soon as you will be able to. They are online like 90% of time because of unexpected maintenance couple times a week. Its system is so weak that it crashes all the time (whats other reason for unexpected maintenance? ). They either have to do this because of system crash or they dont care about their users funds (not letting you know before - exposing you to currency risk for longer than you want based on your trading/investing strategy). It was a matter of them when they will be hacked with such poor software. It is a matter of time they will be hacked once again. This time successfully (stealing funds).
2-As semobo said ... you are exposed to currency risk and eth price fluctuations. But if you are long term hodler it may be better to stake it rather than not doing it. But i would choose better exchange (like binance). I know that "not your keys not yor coins" but in 2021 exchanges like binance are too big to die. Its not 2014 anymore. Kucoin was hacked, lost almost $300 milion of funds, recovered 80% (altcoin forks, usdt locks etc), covered rest money from insurance and continue to operate. What will kill binance that is couple times bigger? I guess that their security is better than most banks. And if you are not an expert holding funds on binance account might be safer than on your wallet with priv key saved on the desktop as a text file - most common mistake, or not saved at all - second most common mistake or as screen shot on phone - third most common miste, or send via facebook,whatsapp.
|
|
|
|
"For standard redemptions, the full amount will be returned on the second day after redeeming at 00:00 AM (UTC). This also includes your earned interest. Any delay in funds credited may be due to the interest calculation process, as the day of redemption is included in the interest calculation period. For fast redemptions, you will receive the full amount of your digital assets back on the day of redemption without interest." https://www.binance.com/ph/support/faq/360034998492I use it and my funds never get stuck. When I'm not trading I always put my funds to lauchpools (or savings if there are no lauchpools) to earn additional money. Its instant in and out. I did not understand what you mean, but binance earning is really disgusting. They are trying to accumulate liquidity and give a very low return as they manipulate the market and achieve huge returns from that liquidity.
locked staking give you little bit more earning but most of them less than 10% per year
It is good if you do not want to trade and trust Binance to hold your coin but it is very risky and has little return.
1- exchange does not need your funds to manipulate market. At least your "permission". They can use your funds to buy/sell anything they want without you locking your funds in savings by using fractional reserve system - https://bitcointalk.org/index.php?topic=5094088.msg49096584#msg490965842- 10% per year is a fair amount if your revenue does not comes from inflating your asset. You have 0-2% in bank. Current crypto market spoiled investors. Especially stacking where you have 50% APY while supply grows 45% to pay for stacking (people seams to forget that their true APY is reward - inflation. 3- what is very risky? |
|
|
|
I'm just wondering whether BTC has hit it's peak for this cycle. It's been trading sidesways 55k-60k for the last 2 months
while altcoins have rallied. From historical perspective, for those were in it in 2017, did bitcoin ever regain it's dominance after
altcoin season began. I guess what i'm asking is whether I should liquidate my bitcoin position and chase altcoins or whether
there is more room for BTC to go this year.
In DEC 2017 BTC crashed hard (-70% in 2 months) when alt season started and every shitcoin was going up like crazy. Last week of alt season coins were doing 100-200% daily candles. Now BTC holds strong for 2 months. While alts are going to moon but not as fast (%) as it was in the end of alt season 2017. My guess is that its not the best idea to estimate future based on patters that repeated 0 times (huge BTC bubble together with massive amount of new coins from ICO happened 1 so far so n=0 - the number of repetitions). My guess is that this bubble is different than previous one. Fundamentals of this pump is different, global economic situation, reason to invest in BTC is different than it was in 2017 bubble (a different paradigm). I'm happy that I sow this thread because it confirms my assumptions. And my assumptions are that this is middle cycle consolidation for BTC while we see alt season just to make people dump their BTC to chase massive ALT gains. Why is selling now? Those who chase ALTS, those whose plan was to reduce position at 50k range, those who are bored of long consolidation, those who doubt in cycle continuation. Who buys? For sure not lambo guys (those guys are chasing altcoins), for sure not tik-tkers and all crypo newbies (those are chasing dogecoin). Whats left? Institutions, big players. I'm slowly reducing my alt bags filling BTC bag. When btc will break 60-70k it will jump to 90k instantly sucking all money from market. Alts will dump hard (at least compared to BTC) |
|
|
|
Everything you need to know is in those articles. I don't know what you want to know more that you already know. What "doubts and questions" you have?
Despite all the warnings about the product (given in some cases by binance itself) the trade executed with no surprises,
There are always no suprises when your trade was short term and amin asset price was not volatile too much. The most imporant thing with Leveraged Tokens - do not hold them. Its guarantee of loss. |
|
|
|
I agree with you with "even a complete shitcoin is pumping now" and is pumping harder than good coins (that already pumped in first wave). Now everyone cashed out profits from "good coins" and is now looking for something that did not pump yet. ETC that no one is using pumped 4x in last 5 days. Copy of etherum without user base... But thats how it works. Its allocation of gains from first wave tokens. But I will not agree with you in terms of doge. Its overpriced now for sure ... but its not as garbage as most think. People underestimate doge. Price is too high currently. I agree but its not eveluated that high only because of Musk tweets. Doge: 1 - was very stable against BTC for years.  6 years ... ~25 sat on average with many pumps as soon as price dumped. If I was banned from having bitcoin (for unknown reason) ... i would swap to DOGE as soon as price would dump to 20-25 sat. 2- DOGE has huge community and no centralized identity since first devs abandoned project (just like bitcoin was abandoned by satoshi) 3- Doge is one of 3 most used coins on crypto casinos and similar sites 4- Doge is one of 5 most often available coins if you want to use crypto as payment I have few more. Because of all of above I think I'm one of first people that dare to call DOGE a digital silver (if we consider bitcoin to be a digital gold). Not litecoin, not etherum. |
|
|
|
Then there will be a point where IDNA's income is less than the capital that the miner has to spend. That way, this ecosystem will stagnate and there will be no more growth. Unless the IDNA coin price increases to balance the miner's income with their initial capital to rent a VPS.
From economic point of view there is no difference. 1-flat rewards per whole network = annual inflation decrease year by year = this build value in long term based on stock to flow ratio 2-More miners -> chain has bigger value -> tokens price should fallow network value in long term 3-More miners -> Better chain use cases (advertise, oracle) -> tokens price should fallow network value in long term If you would go with flat rewards per each miner you take care about miners, but you resign from p1 making inflation of coin depending on the number of nodes which makes this coin uninvestable ( I would not invest in a coin not knowing how big inflation is) |
|
|
|
A little question that confused me. Does each IDENA account have different mining income depending on the validation score?
I made a comparison between two newbie accounts that just did one validation
Validation score does not affect mining rewards. Each node no matter how old it is or how high score it get mine with the same speed. Sometimes 1 node mine faster than second but its temporary and will catch up in longer term. |
|
|
|
Tether seems to have a transfer fee of $20-$100,
This apply only to ERC-20 USDT. Majority of exchanges (including kucoin that is being used by OP) support multi-chain withdrawals and deposits in USDT. Means that you can use TRC-20 USDT to move founds from exchange to exchange paing only 0-1$ fee. @OP I would transfer funds to binance and use their P2P service for USDT/USD trade and than USD withdrawal (you will need KYC), or trade USDT to BUSD and withdraw USD using BUSD (Binance support USD withdrawals using BUSD balance) |
|
|
|
This thread made by crypmike might be useful for you: https://bitcointalk.org/index.php?topic=4846473.0This should be enough since its not about quantity. Its about quality, training and ability of execution: "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times." Bruce Lee |
|
|
|
Phew, big balls and big buys. Japanese companies don't play around with what they do so this means approval from the very top. Blue chip on Japanese stock exchange and yes, it's "only" 2% but that's already more than some companies even put in gold.
That kind of belief will only spread to others. Wonder when in my country now:)
Yep. Its first Japan company that I know that put BTC in their balance sheet. It means that they had to have approval from Japanese counterpart of SEC or even Bank of Japan (bank of japan is the biggest stock owner in Japan ( Bank of Japan becomes nation’s biggest stock owner) and significantly affects stock market prices giving liquidity and close to free money for all stock market companies). This might be bigger news that I thought from the begging. |
|
|
|
Just wanted to say hello to NEXON Co. that just announced purchase $100 Million Worth of Bitcoin at average price of approximately $58,226. "Thispurchase represents less than 2% of Nexon’s total cash and cash equivalents on hand." “Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” said Owen Mahoney, President and CEO of Nexon. “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.” https://pdf.irpocket.com/C3659/bxTh/SDDC/wbxu.pdfNexon is listed in Japan so we need to wait to tomorrow to see how it will impact shares price. |
|
|
|
|
Show Posts
