Number 9! Ninth altcoin thread. Back to the moon Baby!

[adaseb]

I have some idea that is a bad sign.  Seems too good.

There is some risk involved. One of the main reasons is you need to keep your coins on the exchange as collateral. Basically you don't need to keep the entire amount since there is 100x leverage however you need to keep your leverage low enough not to get liquidated. So if you hedge $50,000 of BTC, you can keep 1 BTC on the exchange and never get liquidated or keep 0.5BTC on the exchange and your liquidation price will be at $100,000. So when it comes close to $100,000 you will need to send more BTC into the exchange. Max you would need to send would be the 1 BTC. Since when price rises and you use BTC as collateral so does your account value.

Where can we sell on the futures? Sorry not informed on that.
Being a long time hodler, getting 10% seems nice.

Yes but keep in mind you can only get 10% on your crypto USD or USDT or USDC. You can't do it with BTC. There is no high funding fees for BTC only USD. You can use any futures exchange like Binance, Bitmex, Bybit, Kraken, Bitfinex, etc.

[generalt]

I have some idea that is a bad sign.  Seems too good.

There is some risk involved. One of the main reasons is you need to keep your coins on the exchange as collateral. Basically you don't need to keep the entire amount since there is 100x leverage however you need to keep your leverage low enough not to get liquidated. So if you hedge $50,000 of BTC, you can keep 1 BTC on the exchange and never get liquidated or keep 0.5BTC on the exchange and your liquidation price will be at $100,000. So when it comes close to $100,000 you will need to send more BTC into the exchange. Max you would need to send would be the 1 BTC. Since when price rises and you use BTC as collateral so does your account value.

Where can we sell on the futures? Sorry not informed on that.
Being a long time hodler, getting 10% seems nice.

Yes but keep in mind you can only get 10% on your crypto USD or USDT or USDC. You can't do it with BTC. There is no high funding fees for BTC only USD. You can use any futures exchange like Binance, Bitmex, Bybit, Kraken, Bitfinex, etc.

So where does the risk part come in? I'm a little ignorant with it comes to futures.  Let's say I had 1 eth and I put it up in the futures market in Jun to sell for an additional 10% price I would make 10% profit in June.  I guess the risk is if you're buying on margin and don't actually have the shares of eth.  Is that where the risk comes in?

[adaseb]

I have some idea that is a bad sign.  Seems too good.

There is some risk involved. One of the main reasons is you need to keep your coins on the exchange as collateral. Basically you don't need to keep the entire amount since there is 100x leverage however you need to keep your leverage low enough not to get liquidated. So if you hedge $50,000 of BTC, you can keep 1 BTC on the exchange and never get liquidated or keep 0.5BTC on the exchange and your liquidation price will be at $100,000. So when it comes close to $100,000 you will need to send more BTC into the exchange. Max you would need to send would be the 1 BTC. Since when price rises and you use BTC as collateral so does your account value.

Where can we sell on the futures? Sorry not informed on that.
Being a long time hodler, getting 10% seems nice.

Yes but keep in mind you can only get 10% on your crypto USD or USDT or USDC. You can't do it with BTC. There is no high funding fees for BTC only USD. You can use any futures exchange like Binance, Bitmex, Bybit, Kraken, Bitfinex, etc.

So where does the risk part come in? I'm a little ignorant with it comes to futures.  Let's say I had 1 eth and I put it up in the futures market in Jun to sell for an additional 10% price I would make 10% profit in June.  I guess the risk is if you're buying on margin and don't actually have the shares of eth.  Is that where the risk comes in?

The only risk is if the exchange gets hacked or your account gets hacked. Basically counterparty risk since your coins are no longer in cold storage.

If you own ETH then it won’t really work unless you want to sell it completely where you would get paid 10% above market value. The way you profit off the premium is you need fiat or tether in your account. Say you got $1000 USDT. You would send to an exchange and buy $1000 worth of ETH. Which suppose is around 0.55ETH then at the same time you would open a June futures ETH short with a value of 0.55ETH which would be exactly $1100 contracts. When the last Friday of June comes around there will be no more premium. So you buy back your short ETH position where you get back $1100 and at the same time you sell the 0.55ETH and get your $1000 back. And $100 is your profit.

[arielbit]

I have some idea that is a bad sign.  Seems too good.

There is some risk involved. One of the main reasons is you need to keep your coins on the exchange as collateral. Basically you don't need to keep the entire amount since there is 100x leverage however you need to keep your leverage low enough not to get liquidated. So if you hedge $50,000 of BTC, you can keep 1 BTC on the exchange and never get liquidated or keep 0.5BTC on the exchange and your liquidation price will be at $100,000. So when it comes close to $100,000 you will need to send more BTC into the exchange. Max you would need to send would be the 1 BTC. Since when price rises and you use BTC as collateral so does your account value.

Where can we sell on the futures? Sorry not informed on that.
Being a long time hodler, getting 10% seems nice.

Yes but keep in mind you can only get 10% on your crypto USD or USDT or USDC. You can't do it with BTC. There is no high funding fees for BTC only USD. You can use any futures exchange like Binance, Bitmex, Bybit, Kraken, Bitfinex, etc.

So where does the risk part come in? I'm a little ignorant with it comes to futures.  Let's say I had 1 eth and I put it up in the futures market in Jun to sell for an additional 10% price I would make 10% profit in June.  I guess the risk is if you're buying on margin and don't actually have the shares of eth.  Is that where the risk comes in?

The risk is your own greed, leverage trading is a casino..

50-100x and then your money.....poof! in a blink of an eye. Or poof! you make lots of money hehe

then there are wicks that will finish you when you least expect it hehe

Learn to let go of oppurtunities instead of fomoing into liquidation.

A balance of patience fear/greed management helps.

Learn from mistakes, i mean learn thoroughly-watch the chart even after you lose money.


Anyway mining will keep you in touch with reality about how much/hard it is to earn 1 ETH.

For me..as we go past ATH i will be careful with leverage because wicks can get deeper and higher

[generalt]

Yes I don't think futures are for me.  I've never had any luck/skill with any of those things.  I will stick to mining but I do like to educate myself on other aspects.

[philipma1957]

Yes I don't think futures are for me.  I've never had any luck/skill with any of those things.  I will stick to mining but I do like to educate myself on other aspects.

well my best trading was the doge.

Most of it was mine and hodl or buy and hodl till I got to 1 million doge.

hodl it for three months and sell it at 2 to 8 cents.

I made over 40k cap gains which is nice.

[arielbit]

Yes I don't think futures are for me.  I've never had any luck/skill with any of those things.  I will stick to mining but I do like to educate myself on other aspects.

leverage small like x3 or x5..we are closer to top than bottom.

practice, learn and prepare.

imagine shorting the top? your bear market will be happy one hehehehe    who hates money?

[adaseb]

Yes but what I'm talking about here is more like arbitrage rather than speculative trading. Basically you are neutral on the position and don't care if the price of ETH goes up, down, or sideways you just want to milk the premium.

Leverage trading, especially on futures is highly difficult for most people to profit off. Sure we see people posting their gains daily here on this forum or on Crypto twitter however we all know what happens to 95% of all traders out there. They end up losing their profits, then their balance. And some even take out loans to trade and basically end up in debt.

Hence this is why its not good to see a futures premium this high, means that the markets are levelled to one side (buy side) and eventually when the rug is pulled they all will be rushing to the exits. The question however is... when. Will BTC breaks $50K and head to $100K or was $49.7K the top? Nobody knows exactly.

[arielbit]

Yes but what I'm talking about here is more like arbitrage rather than speculative trading. Basically you are neutral on the position and don't care if the price of ETH goes up, down, or sideways you just want to milk the premium.

Leverage trading, especially on futures is highly difficult for most people to profit off. Sure we see people posting their gains daily here on this forum or on Crypto twitter however we all know what happens to 95% of all traders out there. They end up losing their profits, then their balance. And some even take out loans to trade and basically end up in debt.

Hence this is why its not good to see a futures premium this high, means that the markets are levelled to one side (buy side) and eventually when the rug is pulled they all will be rushing to the exits. The question however is... when. Will BTC breaks $50K and head to $100K or was $49.7K the top? Nobody knows exactly.

arbitrage trading or speculative trading or (insert your style) trading here. you already are in very thin borderline crossing between all of them hehe

we have this gambling gene in all of us that's why casinos are business empire all around the world.

i remember when I went to casinos in 2018, the feeling inside is somewhat the same with trading.

[jasta more]

This might be a little off topic but any of you guys taking advantage of the premium on the future derivative markets? Basically the June futures for ETH and BTC there is a 10% premium.

So if you got any type of fiat whether it’s USD, tether, USDC, etc you can buy on spot and at the same time sell on the futures and wait 4.5 months and get 10% for doing nothing pretty much.

Never seen the premium so high before, usually it’s 1% a month but you got Feb futures which expire in 10 days with a. 3% premium or far off futures like the Sept/Dec at 15/20% respectively. Seems that there is so much demand that the market makers are running out of funds to arb these markets. Open interest is thru the roof at 17B currently.

margin for profits is small and getting smaller there,people are already borrowing on one exchange and lend those funds on another that gives higher % on funds.Most of it is done by bots anyway and by whales

[philipma1957]

This might be a little off topic but any of you guys taking advantage of the premium on the future derivative markets? Basically the June futures for ETH and BTC there is a 10% premium.

So if you got any type of fiat whether it’s USD, tether, USDC, etc you can buy on spot and at the same time sell on the futures and wait 4.5 months and get 10% for doing nothing pretty much.

Never seen the premium so high before, usually it’s 1% a month but you got Feb futures which expire in 10 days with a. 3% premium or far off futures like the Sept/Dec at 15/20% respectively. Seems that there is so much demand that the market makers are running out of funds to arb these markets. Open interest is thru the roof at 17B currently.

margin for profits is small and getting smaller there,people are already borrowing on one exchange and lend those funds on another that gives higher % on funds.Most of it is done by bots anyway and by whales

and that means a crash is on the way.

[fr4nkthetank]

when that happens, people will rush out of liquidity pools on defi, etc to sell their coin.  there is 40 billion locked in defi apparently.  So how high can ETH fees get in the stampede >
but who knows when honestly.  stick to the mining plan all will be well whatever happens.

[menoiazei]

This might be a little off topic but any of you guys taking advantage of the premium on the future derivative markets? Basically the June futures for ETH and BTC there is a 10% premium.

So if you got any type of fiat whether it’s USD, tether, USDC, etc you can buy on spot and at the same time sell on the futures and wait 4.5 months and get 10% for doing nothing pretty much.

Never seen the premium so high before, usually it’s 1% a month but you got Feb futures which expire in 10 days with a. 3% premium or far off futures like the Sept/Dec at 15/20% respectively. Seems that there is so much demand that the market makers are running out of funds to arb these markets. Open interest is thru the roof at 17B currently.

margin for profits is small and getting smaller there,people are already borrowing on one exchange and lend those funds on another that gives higher % on funds.Most of it is done by bots anyway and by whales

and that means a crash is on the way.

the way I understand it serious fiat currency crash is on the way due to inflation usd and euro in circulation also worldwide COVID situation
that's why this crypto frenzy bull run never seen before, very curious to see how all this will play..

[philipma1957]

when that happens, people will rush out of liquidity pools on defi, etc to sell their coin.  there is 40 billion locked in defi apparently.  So how high can ETH fees get in the stampede >
but who knows when honestly.  stick to the mining plan all will be well whatever happens.

Yeah just add cards slow but sure.

I have

 1x 3090 coming
 1x 3070 coming

5 omen rigs with 1x 3070 in each these are not all for me.

and hoping for a Newegg Shuffle to hit today.

[generalt]

when that happens, people will rush out of liquidity pools on defi, etc to sell their coin.  there is 40 billion locked in defi apparently.  So how high can ETH fees get in the stampede >
but who knows when honestly.  stick to the mining plan all will be well whatever happens.

Yeah just add cards slow but sure.

I have

 1x 3090 coming
 1x 3070 coming

5 omen rigs with 1x 3070 in each these are not all for me.

and hoping for a Newegg Shuffle to hit today.

I was wondering if they were going to have a shuffle today on a US holiday. 

[philipma1957]

when that happens, people will rush out of liquidity pools on defi, etc to sell their coin.  there is 40 billion locked in defi apparently.  So how high can ETH fees get in the stampede >
but who knows when honestly.  stick to the mining plan all will be well whatever happens.

Yeah just add cards slow but sure.

I have

 1x 3090 coming
 1x 3070 coming

5 omen rigs with 1x 3070 in each these are not all for me.

and hoping for a Newegg Shuffle to hit today.

I was wondering if they were going to have a shuffle today on a US holiday.  

No sign of the shuffle as of right now.

I am kind of cash flush with the doge score. I am debating if I should buy 1 more omen rig.
I grabbed it.


OMEN 30L Desktop GT13-0255st
HP OMEN 30L DESKTOP PC
MISC HEVC MEDIA EXTENSION HP
WARR 1/1/0 US
20C1 Cycle AV
NVIDIA® GeForce RTX™ 3070 (8 GB GDDR6 dedicated)
WD Black 512 GB PCIe® NVMe™ M.2 SSD
BU RCTO OMN DoradoOC Z490
No Secondary storage
No Third storage
No Fourth Storage
HP black wired keyboard with volume control and wired optical mouse kit
McAfee Livesafe (30 day)
HyperX® 8 GB DDR4-3200 XMP SDRAM (1 x 8 GB)
Front Bezel Shadow Black Glass, Dark Chrome Logo+ Side Cover Glass with Cooler Master 750 W Platinum efficiency power supply
Realtek Wi-Fi 5 (2x2) and Bluetooth® 5 combo, MU-MIMO supported
Office Trial
Windows 10 Home CORE
OSLOC US
No Optane
Intel® Core™ i5-10600K W/RGB Liquid cooling (4.1 GHz up to 4.8 GHz, 12 MB L3 cache, 6 cores)
CKIT HP CTO OMEN 1C20 US
No RAID


the upgrades are bolded
 
the 10% off coupon is 10Gamer2021

https://store.hp.com/us/en/pdp/omen-30l-desktop-gt13-0255st-1a226av-1?


I get more discounts so I pay

 1400 - 56 = 1344  after taxes are added


For most buyers
this would come to 1376.99 + tax

but it is better than the Alienware deal that sold out fast on the 11th or 12th.

the cpu here is the 10600k water cooled that was better than the Alienware
the ssd is a wd black nvme.2 512 gb that was better than the Alienware

[generalt]

If I wasn't too lazy to try to sell the machine I would jump on that HP Omen deal as well.  But I'm also close to my capacity with my rigs.  I'd either have to build a new rig or start selling off some of the older AMD 480 cards.  If I could easily get 4 or 5 RTX 3000 series cards I would do it but the whole one card a week struggle makes it a challenge.

[philipma1957]

No shuffle today.

Tomorrow I get a 3070 from newegg.

Next week I get a 3090 from. minefarmbuy.com

The 3rd of march I get the omens.


eth is still over 12 cent an mh at viabtc.



ltc is whaling at viabtc.  5 bucks for 2 l3+ and  the doge money

I have 7.5gh l3+. it earns a ltc in  in 6 days and 2000 doge in the same time.  so. 220 + 120 = 340 usd in 6 days or 1700 in a month.  stupid good money.

 it burns 8100 kwatts or 405 in power net is 1300 a money on gear that was underwater losing 200 a month.




My order for the omen rig was declined they told me the limit is 2 per account. This was the third one on the account.

[Toughit]

Went to amazon this afternoon looking for a 3080, and ended up with a 3060 for $389.  Sold by amazon, in stock on 2/25. tried to add another, but it would not, so probably 1 per customer.

So...  My current most up to date card was purchased in December 2017. (1080ti or Vega 64)

This should be interesting...

About 45mH is the consensus?

[philipma1957]

maybe 52

you have a link for it?