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Sydney Bottocks posted:I know if my neighbor demanded a family member's personal info for any reason--not just for crypto butt scams--my first thought would certainly be "ah jeez, I guess I don't want to upset them though" My wife is better at confrontation than I am, I'll admit that I have a tendency to try and spare people's feelings or perceptions about me and it leaves me vulnerable. But if a neighbor wanted to basically steal a family member's identity so he could arrange transaction of a "gift" and got upset that I said no, I feel like it would override my natural allow-yourself-to-get-walked-all-over response and I'd have to just tell them to get bent. If they continued by sending me messages evangelizing the grift they tried to sell me, that's an immediate block - this person has nothing of value to say.
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Jun 28, 2022 17:55
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Ghost Leviathan posted:Reading these things does remind me of Trump and how stupid people seem to have their own language of a sort, where the more unfounded bragging and ridiculous assertions you make the more confidence it inspires. Having things like 'realistic expectations', 'actual understanding of the topic', and 'proper spelling and grammar' are seen as untrustworthy and pretentious. Hol' up... you mean this fella might not have actually made $500k buying two jpegs? https://twitter.com/hgwgn/status/1541253925222944768 Scratch Monkey posted:I think it’s also saying that the guy used his Mint Mobile phone to do it. Mint Mobile (mm) is a discount phone network mainly used by people who don’t have the kind of money to blow on monkey jpgs that get them into monkey themed parties PITY BONER fucked around with this message at 18:00 on Jun 28, 2022 |
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Jun 28, 2022 17:57
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The Pirate Captain posted:I thought you could liquidate a short at any point before the call. So if I have $10mil in the bank and want to short $5mil tether it wouldn’t matter if the price goes up to $1.02 at some point because I have more than enough collateral for that. And hey, if they do manage to get it up that high somehow, I could put another few mill into it at that price and make an easy 2% when it drops back to $1. Or if I’m being even more clever, put in 1 mil originally, wait for the whales to spike the price up to $1.01 to try to spite me, then put in 8 mil at that price. I’ve kept $1mil in reserve to cover any margins. Then you've posted two million dollars with a sketchy-rear end exchange to make $10k. Also note that if the value never fluctuates far enough below what you need for a real profit you lost whatever you spent to borrow the tethers.
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Jun 28, 2022 17:57
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PITY BONER posted:Hol' up... you mean this fella might not have actually made $500k buying two jpegs? I think he just grifted his friend. Because, and correct me if I’m wrong, according to NFT “rules”, only the official BAYC creator can mint new BAYC apes, right? The friend just has fake apes now. Also is it a coworker or friend? That whole post is bullshit so I don’t know why I even tried to apply logic to it.
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Jun 28, 2022 18:08
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Rotten Red Rod posted:Reminds me of when a guy shorted Axie Inifity's currency because he knew it had been drained of 600m, but lost his money because people kept it afloat for quite a while despite the theft being public knowledge. Oh, its dumber: the person with the short was the thief, trying to double down on his gains. And it blew up not because people knew and kept the bag afloat, but because nobody noticed the hack that drained $600M for like a week.
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Jun 28, 2022 18:10
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A bunch of y’all keep confusing “shorts” and “puts”. Buying a put is a contract to buy an “equity” at a certain price, that has an expiry date. This is taking a short position, but is different than “shorting”, which is lending out the actual equity being discussed. Don’t do either on a crypto exchange, but especially don’t do it, if you don’t fully understand the mechanics of “shorting” or taking short positions.
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Jun 28, 2022 18:11
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The best way to “short” crypto, in theory, is to find a non crypto site taking bets on crypto prices. I don’t even know if these exist, but imagine if predictit started including crypto prices in their betting lines.
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Jun 28, 2022 18:15
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nachos posted:The best way to “short” crypto, in theory, is to find a non crypto site taking bets on crypto prices. I don’t even know if these exist, but imagine if predictit started including crypto prices in their betting lines. buddy I got some apes in the back of my van to show you.
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Jun 28, 2022 18:22
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nachos posted:The best way to “short” crypto, in theory, is to find a non crypto site taking bets on crypto prices. I don’t even know if these exist, but imagine if predictit started including crypto prices in their betting lines. I would argue the best way would be to buy long-expiry puts on COIN via your brokerage. I’m not suggesting anyone do this.
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Jun 28, 2022 18:29
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best way to short crypto is to send me dollars and i'll send you back some cents
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Jun 28, 2022 18:38
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Piggy Smalls posted:Well goons it all came to a head today. Nugen Coin talk here. My neighbor called to let me know she absolutely had to talk to me today. Nugen is about to go live June 30th and I have to do kyc forms so that the coins under my kids aren’t lost. I get what you're trying to do but this is way too much effort with arguments that are too much on your neighbor's terms. It is a scam. You know that they're profiting from selling to you. Any money that can be made on these useless and nonproductive coins is at the expense of other people. The only arguments you should be putting forth are the ones that describe the above - that it's a predatory scam and that you're not sharing your info with anyone. "Excuse me, but I don't engage with scams and you shouldn't be, either."
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Jun 28, 2022 18:46
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tell them you'll buy ten thousand NugeCoins or whatever if they buy twice as much in your own new crypto coin
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Jun 28, 2022 18:49
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Best way to short crypto is to have a hearty lol as number goes down
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Jun 28, 2022 19:02
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for fucks sake posted:Best way to short crypto is to have a hearty lol as number goes down Number has not been going down anywhere near as much as I'd like.
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Jun 28, 2022 19:04
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Flowers for QAnon posted:A bunch of y’all keep confusing “shorts” and “puts”. Buying a put is a contract to buy an “equity” at a certain price, that has an expiry date. This is taking a short position, but is different than “shorting”, which is lending out the actual equity being discussed. Don’t do either on a crypto exchange, but especially don’t do it, if you don’t fully understand the mechanics of “shorting” or taking short positions. It's designed to specifically be confusing and when intersected with cryptocurrency just lol at having any idea whats happening with your money.
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Jun 28, 2022 19:13
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it puts the buttcoin in its shorts or else it gets the pump again
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Jun 28, 2022 19:19
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Flowers for QAnon posted:A bunch of y’all keep confusing “shorts” and “puts”. Put holders can use multiple shorts on a single put so if you have 1 astro put and 3 short juices you can create 3 new puts. This is taking a short position, but is different than “shorting”, which is lending out the actual equity being discussed.
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Jun 28, 2022 19:20
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There's actually an ETF for shorting bitcoin. But "the market can stay irrational for longer than you can stay solvent," so don't.
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Jun 28, 2022 19:30
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let's play NFT or Option Strategy Long Strangle Christmas Tree Butterfly Iron Condor Shitbeast
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Jun 28, 2022 19:39
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I think the bottom line on "can you make money on shorting crypto" is "in theory, yes, but even if you don't get screwed by the flagrant crooks running a rigged system cooking the books specifically to rob you, the returns are minuscule."
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Jun 28, 2022 19:41
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well the markets dumping today and bitcoin usually follows so I went ahead and bought some cheap puts on BITO because the thread told me to
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Jun 28, 2022 19:44
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shame on an IGA posted:let's play NFT or Option Strategy quote:Christmas Tree Butterfly quote:Iron Condor quote:Shitbeast
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Jun 28, 2022 19:53
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Bitcorn
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Jun 28, 2022 20:29
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Update on my tech bro relative that fell hard for crypto: he blew the $70k down payment on the house he put an offer on to buy the Bitcoin dip before the recent massive price drop. I think he thought he was going to be able to quickly chuck the money on BTC before it shot back to ATH and then sell it all to buy the house with cash. My whole family is livid, especially his side of the family, but I'm over here shouting "called it!" every chance I get.
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Jun 28, 2022 20:30
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lazy old sun posted:https://twitter.com/Bitfinexed/status/1530645363790585862 This is a slightly better answer than shrugging and saying “hey anything is possible”, but only just barely
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Jun 28, 2022 20:43
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more falafel please posted:Number has not been going down anywhere near as much as I'd like. Number ain't going up either. Do you think BTC will ever see $30k again?
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Jun 28, 2022 20:46
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PITY BONER posted:Update on my tech bro relative that fell hard for crypto: he blew the $70k down payment on the house he put an offer on to buy the Bitcoin dip before the recent massive price drop. I think he thought he was going to be able to quickly chuck the money on BTC before it shot back to ATH and then sell it all to buy the house with cash. He put an offer in on the house then blew it on crypto and then lost the bid on the house, I assume? Oof
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Jun 28, 2022 20:47
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Beefed Owl posted:Number ain't going up either. No, but I didn't think we were ever gonna see $17k again after 2017 so what the hell do I know.
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Jun 28, 2022 20:48
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Looks like a good day for another sub-20k dip
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Jun 28, 2022 20:50
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Matt Ranger wrote a great blog post about specific ways exchanges target their own user's margin loans and manipulate the price to wipe them out https://www.singlelunch.com/2022/01/09/an-anatomy-of-bitcoin-price-manipulation/ Don't touch the poop
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Jun 28, 2022 20:54
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HappyHippo posted:There's actually an ETF for shorting bitcoin. When it's crypto, it's called "sharting".
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Jun 28, 2022 21:06
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edging near 20k for a while now
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Jun 28, 2022 21:19
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Blast from the past, I remember this guy had a kooky Bitcoin billboard in silicon valley back in like... 2012? https://twitter.com/TheStalwart/status/1541834075685765125
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Jun 28, 2022 21:37
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Planet X posted:He put an offer in on the house then blew it on crypto and then lost the bid on the house, I assume? I mean, if he had the offer accepted he did more than lose the bid. At the very least he would be out his earnest money deposit, and if the seller is feeling vindictive they could sue. More recently that hasn't really been the way things go because that holds up re-listing the house, but if they decide to be spiteful with the market cooling then lol.
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Jun 28, 2022 21:38
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lol that coinflex names the debt recovery coin they invent "RV" coin when the debt belongs to Roger Ver.
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Jun 28, 2022 21:48
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Planet X posted:He put an offer in on the house then blew it on crypto and then lost the bid on the house, I assume?
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Jun 28, 2022 21:54
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Oh no who would've thought that known tax evader Rodger Ver might do something skeezy to get out of an obligation.
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Jun 28, 2022 22:25
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A citizen of the EU?
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Jun 28, 2022 22:48
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I somehow missed the detail of the buttcoin neighbor asking for the goon's kid's PII. Dude you need to get way more harsh and firm. Your kids hypothetical credit score and stuff could be damaged before their 18/adults. loving scream you will break their kneecaps. Also when you can, you should get them a secure/student card and then tell them to treat it like a debit card and try to sow the seeds of smart personal fin/banking and hopefully reap a great credit score.
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Jun 28, 2022 22:52
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WithoutTheFezOn posted:A citizen of the EU? Bitcoin Jesus is a citizen of the world and no man may sieze His assets
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Jun 28, 2022 22:54
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