CoinPoker Username: adaseb
Forum Username: adaseb
BTC Segwit address: bc1qp7adtga20nvqadur88nkzazw59cgrzxhsd7sr3
Total Merits earned (excluding airdropped merits):  1718


I was part of the campaign and want to continue

It’s 7% because they only sent a dollar. If they sent $10,000 I am pretty sure the fees wouldn’t of been $700. It was some transaction fee or transfer fee that they deducted from the USDC.

With stablecoins some chains have slightly different prices but they are never off by 7%. Try and find some other transaction which has a larger value being bridged than $100 and see if the fee will still be 7%?

August is not that far away. And as much as I would love this to be true, it most likely won’t be. Robert makes predictions like this all the time. For years he has been saying there will be a stock market crash and he was correct once during Covid and wrong every other year.

I don’t take his analysis seriously when I know he doesn’t have much experience in financial markets and he is just guessing about all these predictions. Or he is doing it just to generate buzz and exposure on the internet.

It is indeed a sad story but you need to understand many people gamble, lose money, and they enjoy it because they get entertainment out of it. Instead of going to the movies, or smoking or doing drugs. They get pleasure by gambling because they find it fun like a video game.

The difference is that they set a limit and stick to it. Like your friend should of had a $100 limit and after he lost that , he should of walked away from the casino and went home. He is an addict and they need to stay away from gambling.

Most people in Vegas are not gambling addicts. They lose a little and go home.

Today the bank of Canada finally lowered interest rates by 0.25%. It’s scary what will happen next. Will it be a repeat of the 1970s where they cut rate too early and we ended up with inflation higher than the previous pivot?

The cpi is still not at the target rate of 2% but it’s trending down. So maybe they made the correct move but if still spurs massive amount of people buying real estate and causes rents to go up higher then I cannot see this ending well.

Wonder if the USA will cut rates sometime this year. Their CPI is also far from their 2% target.

Inflation at 2% doesn’t cause people to stimulate the economy and help it grow. In certain countries like Swiss or Japan they had negative interest rates in the past where you are being charged interest to hold it in the bank. That is a way to get people to spend it, not low inflation numbers.

We cannot deal life without inflation. Governments need to issue bonds to pay for the country to run and as a result that money comes from money being printed out of thin air. It’s impossible for a country like the US to function without raising money from selling bonds, they hold too much debt.

Before I made the transaction I did my research and it’s a valid service. Even found on Arbitrium website when you try and bridge and they recommend it as one of their 6 third party bridges.

On twitter they have an old account and good reputation and I’ve heard the name before. So I knew it was safe.

The funds came in like 2 minutes and it was the correct contract and amount. So it definitely wasn’t a scam.

I could not get any concrete answer on the time line. Some posters are saying end of June or early July but I can’t find a quote from the bankruptcy counsel to verify it.

If it’s really going to be June then it’s crazy how it took MtGox so long to pay out their claims.

Also keep in mind this is money which was tied to crypto prices in nov 11 2022. So if you had BTC or ETH you are getting only $16K for each bitcoin instead of the $70K. So the 18% extra isn’t really going to cut it. Best for those which held mostly stablecoins.

I apologise if there is already an active thread on this but I couldn't find one.

According to the bankrupcy company. They are planning on paying the claimants back 118%. This is confirmed by their twitter account. FTX Official


There are also companies that are buying claims at 99% according to some Reddit users.

The 18% extra is an interest that they are adding.

So in the end everything worked out... customers were actually made "whole" like SBF promised.

I forgot the name of this service but there was a website which would estimate liquidation levels. The way it worked I think it kept track of volume at certain prices and then assumed people with a certain leverage would have their liquidations on a certain level.

Did this method work? Actually no. It was never consistent. Sometimes it detected the pivot at the right level but many times price just went straight thru these levels and if you checked the liquidation statistics, there would be barely any liquidation volume there.

I think the method works better when looking to LONG instead of SHORT. There are more LONGs in a bull market than shorts, hence you should look at those levels instead.

New account? And he also posted in bad English ? Also he didn't censor the casino address so people reading this can try and exploit the casino.

Yeah I am calling BS on this one. Casinos are very strict with these bonuses, they know they would lose tons of money so they make sure the bonus is only credited after a certain scenario is made. What you described seems like they would of discovered this long ago and patched it.

For everyones security, don't visit that casino.

Very rare these days for a CEX to get hacked. Most have good security when it comes to cold storage. Even if an exchange gets hacked it’s usually the hot wallet and not much is compromised.

Now the bigger issue is the dex smart contracts. Usually every few weeks there is some exploit on some dex and. 9 figures worth of funds are stolen. This is why I don’t do any liquidity pools because the interest rate paid is not worth the risk of loosing 100% of your funds.

Liquidity has to do with how much buyers and sellers there are for a type of assets like a crypto currency. Bitcoin and Ethereum has lots of liquidity so you can sell in the millions and not affect price.

But if you own some small cap project which has a market cap of $200K and you want to sell $20K worth, then with poor liquidity you will cause the price to crash because there isn’t enough liquidity to support your market sell.

What you described just sounds like Profit or Loss of $10. And trading is zero sum so the trader on the other end got the $10 instead.

If there was an option to vote for 0% Change - Sideways action I would vote for it.

There is very little movement for bitcoin lately. It’s trading is similar to how Bitcoin trades in August, however it’s still June and it’s not the heavy vacation months such as July and August. It’s becoming boring to trade basically.

Same with other currencies like ETH and SOL. Besides that ETF pump, not much happened right after. Just trading everyday like it was a weekend.

So for the first time I had to use a bridge from ARB to ETH. I waited until the ETH fees were low enough and last weekend we got some 3 Gwei fees and I figured it would be the perfect time to bridge from Arbitrium to Ethereum.

Found a bridge called Synapse. I put in my details about which chain to use and to what destination chain. It was only $2.5 cost. I was like wow, amazing. I assumed it would be $2.5 plus some other gas fees.

So I nervously made the transfer and to my surprise the quotes were correct. Only $2.50 went towards fees, plus a 1 penny transaction gas fee on Arbitrum.

Then out of curosity I checked the ETH transaction and it turns out the Bridge had to pay almost $4 in gas just to make the bridge. So its a loss to them. Why would they do this? I verified the sent token and its not a fake scam token, everything seems legit. So why is the bridge operating at a loss?

I remember years ago when I was in school, it might of been high school, basically a year or two right before we would become legal drinking and gambling age, there was a seminar about the dangers of gambling, drinking, drugs, etc.

Anyway what I remember very clearly when they talked about gambling was that. If someone goes to a casino and loses a bunch of money, they will go away and most likely won't come back. The scenario where people become addicted are those that go to a casino for the first time and they win, they basically realise its easy money and they will become addicted to it.

I guess you call this beginners luck, they realise its easy making money in a casino and they will keep doing it. Eventually they lose their wins, plus any other money new money they put towards winning it back. So its the opposite of what the OP described.

Yeah yesterday Velocore, basically a dex on zksync was hacked. Around $10M was stolen from their liquidity pool. Basically the same way as a bridge getting hacked and their users who provided liquidity in the pool are all drained.

Velocore was actually suppose to be very secure because they passed security audit. But now we have proof that those audits are useless.

Pretty much every smart contract out there is prone to getting exploited. Never keep large amounts on any smart contract.

Since he used Bitpay, I am pretty sure he didn’t get actually paid in bitcoin but someone sent Bitcoin to Bitpay, it automatically converted it to fiat and he was paid in fiat.

This is similar to coinbase merchant payment processor. Many sites can accept Bitcoin but it’s basically sold immediately on the open market and converted to fiat and sent to the merchant. They don’t hold any bitcoins due to its volatility.

Yeah it’s definitely crazy here in Canada. We had records number of immigration last year and it’s still going up. But the issue isn’t only the immigrants which are coming, it’s the international student who will end up getting a permanent resident status because they finished school and started to work. If you add up the international student the numbers are way above the quota.

It’s so bad here people are moving across the country for cheaper housing. We got like 10 people sharing a 2 bedroom apartment or like 15-20 people living in a single family home. It’s ridiculous how crazy it has gotten but people need a roof over their head obviously.

The issue this year compared to 2008 is that there is a shortage of inventory now compared to 2008 when there was a surplus.

We got lots of new immigrants and they all need a place to live. We got Very high interest rates so nobody wants to upgrade their current house because they would need to pay the higher rate. So they don’t list it for sale and there is less inventory.

So I don’t think we will see a housing crash like in 2008.