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Consolidated Crypto Traders/Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., Dec 15, 2017.

  1. dirkmirk

    dirkmirk Member

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    Ah centralized exchanges and imaginary dollar backed tokens, can't live with them can't live without them(to pump crypto markets).
     
    Last edited: Sep 8, 2021
  2. cvidler

    cvidler Member

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    I hope we get to a phase where defi takes away the trading component, and they'll only be useful for on/off boarding.
     
  3. whatdoesthisdo

    whatdoesthisdo Member

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    That's a long list mate, it's probably easier to list the things that is right with it. :lol:

    CZ has said publicly that he believes DeFi will make Binance obsolete.
     
  4. cdtoaster

    cdtoaster Member

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    yeah I thought most of the exchanges stopped accepting highly leveraged trades
     
  5. douver

    douver Member

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    They still go up to 20x leverage, so a 5% move will start the liquidations. That's is still high leverage for crypto. To be honest the companies are just supplying what customers want.

    Also, DeFi projects already allow leverage trading, so they won't 'fix' anything, if people want high leverage, the market will supply it.

    Also, I think people are too used to what are essentially rigged stock markets where central banks etc essentially provide buy support so they practically always go up. Down moves after a market has gone up a long way is really just normal market behaviour.
     
  6. whatdoesthisdo

    whatdoesthisdo Member

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    IIRC most of them removed the 100% leverage but still have up to 25%. However there is one called bybit or something and they still have 100% and had the greatest share of liquidations by far.
     
  7. Slug69

    Slug69 Member

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    Yay, I took a calculated punt and bought on the dip for my first time. I purchased $200 of XTZ yesterday and sold it after it went up 20%. It's still going up from my original position but very happy. I don't gamble but I know it isn't a shitcoin and it was well below the two month average it had been at. Also bought $200 of DOT and will pull out half when I make 15%.
     
    whatdoesthisdo likes this.
  8. BuD

    BuD Member

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    How much did you lose in fees vs the 20% increase? Which would be $240 mins xxxx
     
  9. Slug69

    Slug69 Member

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    It was less than a dollar. For instance if I wanted to sell my remaing 9 XTZ it would be about AUD$0.50. (SWYFTX exchange)
     
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  10. BuD

    BuD Member

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    Ah yes that's not anything at all. I use swtftx to
    I've just been hodling
     
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  11. whatdoesthisdo

    whatdoesthisdo Member

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    Well done. However there's nothing wrong Day/swing trading shit coins, I am doing it constantly.

    It only becomes a problem when you start shilling them as the next revolutionary coin to "change the world"™ :lol:
     
  12. Slug69

    Slug69 Member

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    You mean like Chia?
     
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  13. whatdoesthisdo

    whatdoesthisdo Member

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    Is chia a shit coin? Personally, I haven't even given a seconds worth of consideration so can't really comment.
     
  14. cvidler

    cvidler Member

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    there's over 11,000 coins* on coinmarketcap right now. you could rightly say there's over 11,000 shitcoins


    *including all tokens and whatever else someone makes up to call their 'latest hotness'.
     
  15. BuD

    BuD Member

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    Ufc have a shit coin/token coming kol
     
  16. Slug69

    Slug69 Member

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    A lot of FUD about Chia. I like the coin though and shill it regularly.

    I am convinced now that Bram Cohen invented Bitcoin too. He regularly harps on about the Nakamoto consensus. His initials are BC. He also invented Bit Torrent.

    Too much of a coincidence. He is the one.

    EDIT: HOLY SHIT I SHOULD HAVE STAYED LONGER ON XTZ. Looks like they have become very popular with NFT's and their successful update they did in August halving blocktimes.

    I pulled out at 20% but should have stayed as it has gone to the moon. I will wait for the next dip. Definitely not a shitter.
     
    Last edited: Sep 14, 2021
  17. whatdoesthisdo

    whatdoesthisdo Member

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    Speaking of the next revolutionary coin to change the world, Solana ~ The Ethereum killer, has literally shat the bed. It's been down for over 17 hours :lol::lol::lol::lol::lol:

    I don't like richard but I had to laugh at this...
    upload_2021-9-15_16-32-44.png
     
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  18. douver

    douver Member

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    Despite how bad that is, it's kind of great advertising, Solana crashes when trying to do 400,000TPS. Meanwhile Ethereum and pretty much every Ethereum competitor is limited to less than 100TPS. Solana is magnitudes faster than most of the competition.

    That said it has for sure shown the relative safety of tried and tested platforms like BTC and ETH.
     
  19. cvidler

    cvidler Member

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  20. whatdoesthisdo

    whatdoesthisdo Member

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    I am sure it will be marketed that way but I am not sold on that for 2 reasons mate.
    1. Solana was taken down from bots spamming the network. If it's that easy then there is a serious problem.
    2. More importantly, it confirms the old adage (old in the crypto world) that there is security, speed, and decentralisation. You can pick two.
    Ethereum and bitcoin (and a lot of other crypto's) can do a zillion TPS but then they would be compromising on either security or decentralisation to achieve that.

    For me this is just justification why layer one TPS should be the least important out of the three.
     

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