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Schir
Jan 23, 2012


PIZZA.BAT posted:

yeah wake me up when it falls under .98

wake up

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Luigi Thirty
Apr 30, 2006

Emergency confection port.

yes… YES

e-dt
Sep 16, 2019

Tether is untethered, Luna has done the exact opposite of go "to the moon"... but in good news for crypto investors, LoseMoneyCoin is continuing to work as designed.

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN
are my apes still worth it? PLEASE TELL ME MY APES ARE STILL WORTH IT

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN
oh god my virtual land in a still theoretical game is rapidly becoming worthless!! my wife is gonna kill me when the car we're living in is repo'd, can we move on the land. asking for a friend

gschmidl
Sep 3, 2011

watch with knife hands

https://twitter.com/CryptoA40672341/status/1524374691804323842

Jonny 290
May 5, 2005



[ASK] me about OS/2 Warp
butts are like 26200 rn and its not gonna stop lmfao

Zamujasa
Oct 27, 2010



Bread Liar


:honked:

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN
hahaha lmao BTC is now under $26k

Zamujasa
Oct 27, 2010



Bread Liar



someone post the roller coaster gif

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN
ETH is $20 above its 52-week low

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

Deep Dish Fuckfest posted:

i think i see a duck?

i believe that's the aforementioned laughing lion

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish
let me just dust this old thing off

gschmidl
Sep 3, 2011

watch with knife hands

Boxturret posted:

let me just dust this old thing off


:yeshaha:

Pigbuster
Sep 12, 2010

Fun Shoe

Boxturret posted:

let me just dust this old thing off


BITCOIN is a really good value!

lih
May 15, 2013

Just a friendly reminder of what it looks like.

We'll do punctuation later.
boo tether's recovering

Zamujasa
Oct 27, 2010



Bread Liar
the real question is if the sudden infusion of buying will manage to right the ship, or if this is just a temporary lurch before it resumes going down

one can only hope

chestnut santabag
Jul 3, 2006

You know it's a proper crash when the exchanges go offline
https://twitter.com/BinanceUS/status/1524613930290749440?t=alKymTCFwzABGWGttLJtbw

busalover
Sep 12, 2020
Idk it's going up again. Guess you missed the dip :smug:

Bulgakov
Mar 8, 2009


рукописи не горят

things are OK

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN

i'm sure this is just totally normal scheduled maintenance and is in no way related to the crash or binance's super obvious manipulation of their users

echinopsis
Apr 13, 2004

by Fluffdaddy
is it a good idea to buy some bitcoins

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN

echinopsis posted:

is it a good idea to buy some bitcoins

only if you do it on margin

echinopsis
Apr 13, 2004

by Fluffdaddy
idk what that means but I think reading between the lines you’re telling me yes I should

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN

echinopsis posted:

idk what that means but I think reading between the lines you’re telling me yes I should

it means buying it on credit with a high interest rate. to be super clear: absolutely do not do this

Bulgakov
Mar 8, 2009


рукописи не горят

give me the cash and i promise to send back at least one thousandth of it*

*returns not guaranteed

RPATDO_LAMD
Mar 22, 2013

🐘🪠🍆
yeah you should buy derivatives on margin instead
imagine how rich you would be if you put your life savings into 100x leverage put options a week ago

e: bitcoin put options of course, why bother trading regular stocks

RPATDO_LAMD fucked around with this message at 09:18 on May 12, 2022

Beeftweeter
Jun 28, 2005

OFFICIAL #1 GNOME FAN

RPATDO_LAMD posted:

yeah you should buy derivatives on margin instead
imagine how rich you would be if you put your life savings into 100x leverage put options a week ago

idk before the last like two weeks poo poo was crazy volatile instead of just straight down, so buying on margin would've been dumb there too. instead i'm one of the weirdos that lends shares to derivatives traders and take a cut regardless

RPATDO_LAMD
Mar 22, 2013

🐘🪠🍆
yeah the crypto market is so volatile that i'm pretty sure it's impossible to go 100x leverage on any position in any direction without immediately bankrupting yourself

EricBauman
Nov 30, 2005

DOLF IS RECHTVAARDIG

njsykora posted:

sure would be embarassing if a sports team was to sign a new crypto sponsorship deal right now
https://twitter.com/SkyNews/status/1524449804444708864

i don't think they can get anyone reputable to give them money, what with the fact that they may not exist anymore next year because of sanctions issues

Crusader
Apr 11, 2002

Boxturret posted:

let me just dust this old thing off

Bulgakov
Mar 8, 2009


рукописи не горят

Boxturret posted:

let me just dust this old thing off


haha forever classic

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
in the last 10 hours bitcoin varied between $25,749 and $29,951. pretty normal currency imo

OzyMandrill
Aug 12, 2013

Look upon my words
and despair

Zamujasa posted:




someone post the roller coaster gif

genuwiine dollars!
get your lovely fresh dollars, just 95 cents each!
just like the real thing they are!

Asymmetric POSTer
Aug 17, 2005

OzyMandrill posted:

genuwiine dollars!
get your lovely fresh dollars, just 95 cents each!
just like the real thing they are!

its gonna be like the resale market for gift cards for a store that announced it’s going into bankruptcy

Chalks
Sep 30, 2009

drat, the butts dropped as low as 25k an hour ago

Zamujasa
Oct 27, 2010



Bread Liar
tethers got back up to 0.990 for a bit but they've been slowly deflating since, down to 0.981

wonder how long this slower slide will go on

SubG
Aug 19, 2004

It's a hard world for little things.
stable-ish coin

Chalks
Sep 30, 2009

Matt Levine has been ragging on Terra for a while and has a good article explaining its inevitable death spiral and what the creators are trying to do to prevent it:

https://www.bloomberg.com/opinion/articles/2022-05-11/terra-flops

quote:

There are three basic possible solutions. One is: Have a death spiral! That is not a solution, exactly, but it is … look, if you put your money in the algorithmic stablecoin, it’s because you believed the algorithm would work, and a death spiral is what happens when you follow the algorithm all the way to its natural conclusion. This morning Kwon tweeted a thread announcing his plan to fix things. One element of the plan is to issue a lot more Luna, so that one Terra can reliably be exchanged for $1 worth of Luna, even if that means bazillions of Luna. Kwon:

quote:

Allow more efficient UST burning and LUNA minting, will in the short term put pressure to LUNA price, but will be an effective way to bring UST back to peg, which will eventually stabilize LUNA price.

Yes, billion of UST will be burned, and LUNA will be diluted significantly. Nevertheless, there are no limit in LUNA supply, this market mechanism will actually work to bring stable UST and stable LUNA price (although likely at lower price point for LUNA).

If efficient Burn/Mint is not available for an extended period, this can leave UST to be out of peg for a long period, which will significantly undermine the confidence in the market, and continue to encourage speculators to push down the peg and can potentially crash entire Terra Ecosystem.

That just says “do a death spiral”! You issue infinity bazillion Luna so that anyone who wants out of UST can get $1 worth of Luna immediately. “There are no limit in LUNA supply,” it says, like that’s a good thing.

Chalks fucked around with this message at 11:07 on May 12, 2022

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Eeyo
Aug 29, 2004

i like the conveniently scheduled maintenance.

i wonder how many hours it will take them to update their stylesheet.

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