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[Finance] The cryptocurrency (Bitcoin etc) thread







beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
36,015
Tell you what, if I had a magic money machine that generated 2% gains per week, I'd tend to put my own money in and quietly reap the dividends. I certainly wouldn't divulge my 'secret' to random marks on the internet. Unless of course I needed to, surprise, surprise, "bet with other people's money". Which means of course that someone higher up the food chain is betting with your money. Like I say, how do you think this ends for most of the marks lured into the Ponzi?
i've looked at what the bot is doing. its not risk free, it's arbitrage between spot price and perp price offsetting funding rates (the betting with other peoples money part). place a long and short on same token and assume they'll be delta neutral, with positive funding making the profit. the main risk with this is being caught out by a sudden move that your position doesnt correct for. large players may avoid the strategy because they might not get their position closed without moving their other position against themself.

obviously you'd leave this well alone, there are people out there making a living off this stuff. personaly i avoid this sort of thing as i cant be arsed tracking the mini transactions for tax.
 




Tyrone Biggums

Well-known member
Jun 25, 2006
13,498
Geelong, Australia
It only makes a 20% return if you win EVERY TIME, and you don't. Nobody does.

But you don't need to win every time to make a 2% gain on your money do you.

Given that there's people here who think making between 2-5% return is something mind blowingly unrealistic it's a wonder they believe Bloom could have made large parts of his fortunes from betting.

Or do you think it's not possible to make a 2% weekly return on your money?
 








Tom Hark Preston Park

Will Post For Cash
Jul 6, 2003
72,327


Knocky's Nose

Mon nez est retiré.
May 7, 2017
4,190
Eastbourne
Big surprise there then. What could possibly go wrong with paying stupid amounts of money for an URL that points to a JPEG of a computer-generated image of a cartoon monkey? :facepalm:
They'll become collectible in the future due to this, conversely. If I could pick Bored Apes up for a couple of hundred quid each I'd actually buy a few!

There will come a time when the next generation of art lovers will have an OLED screen in their house with these on, complete with some kind of 'Original NFT' graphic in the bottom corner to say they're the genuine and original owner - and it'll impress their friends...
 




chickens

Have you considered masterly inactivity?
NSC Patron
Oct 12, 2022
2,693
They'll become collectible in the future due to this, conversely. If I could pick Bored Apes up for a couple of hundred quid each I'd actually buy a few!

There will come a time when the next generation of art lovers will have an OLED screen in their house with these on, complete with some kind of 'Original NFT' graphic in the bottom corner to say they're the genuine and original owner - and it'll impress their friends...

Alternatively their friends will point out that their telly’s got really bad burn-in, and the picture didn’t change even when they switched it off and switched it on again.
 


Ⓩ-Ⓐ-Ⓜ-Ⓞ-Ⓡ-Ⓐ

Hove / Παρος
Apr 7, 2006
6,769
Hove / Παρος
They'll become collectible in the future due to this, conversely. If I could pick Bored Apes up for a couple of hundred quid each I'd actually buy a few!

There will come a time when the next generation of art lovers will have an OLED screen in their house with these on, complete with some kind of 'Original NFT' graphic in the bottom corner to say they're the genuine and original owner - and it'll impress their friends...

This absolutely will not happen
 






chickens

Have you considered masterly inactivity?
NSC Patron
Oct 12, 2022
2,693
We'll just have to wait and see....

People said the internet would die off, and it was a fad. Never doubt technology - it's coming for us.

Wot? I’ve never heard anyone argue that the internet would die off, even among the most technophobic of people.

I don’t doubt that if I searched the internet (oh, the irony) I could find a record of some foil hatted nutter’s prediction, but as “People said…” statements go, it’s a stretch. I suspect the internet is only just limbering up prior to showing us what it’s really capable of.

Sadly, what it’s really capable of is making all information mutable and therefore easily censored or altered, not to mention drowning us in so much irrelevant/misleading information that locating accurate information becomes searching for a needle in the proverbial haystack. Not to mention its potential misuse by governments and bad actors to manipulate entire populations. Ah well.

 




CheeseRolls

Well-known member
NSC Patron
Jan 27, 2009
6,230
Shoreham Beach
Wot? I’ve never heard anyone argue that the internet would die off, even among the most technophobic of people.

I don’t doubt that if I searched the internet (oh, the irony) I could find a record of some foil hatted nutter’s prediction, but as “People said…” statements go, it’s a stretch. I suspect the internet is only just limbering up prior to showing us what it’s really capable of.

Sadly, what it’s really capable of is making all information mutable and therefore easily censored or altered, not to mention drowning us in so much irrelevant/misleading information that locating accurate information becomes searching for a needle in the proverbial haystack. Not to mention its potential misuse by governments and bad actors to manipulate entire populations. Ah well.


Not going to go to the bother of finding it for you, but there is a Daily Mail article, which famously argued just that.
 




chickens

Have you considered masterly inactivity?
NSC Patron
Oct 12, 2022
2,693
Not going to go to the bother of finding it for you, but there is a Daily Mail article, which famously argued just that.

I’m sorry, but Daily Mail is the very definition of foil-hatted loon as far as I’m concerned.
 




Springal

Well-known member
Feb 12, 2005
24,785
GOSBTS
 


moggy

Well-known member
Oct 15, 2003
5,061
southwick
Is anyone sitting on any Luna classics?
What’s your thoughts on where this crypto might go?
All time high was £92 a coin.
Love it at some point to get to £1 a coin
 






beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
36,015
Is anyone sitting on any Luna classics?
What’s your thoughts on where this crypto might go?
All time high was £92 a coin.
Love it at some point to get to £1 a coin
Luna is beyond dead. only way you'll see £1 would be through token swap doing 10000:1. the circulation exploded in the collapse for reasons i forget, that would have to be reversed. and why would anyone buy a dead coin for failed project? even as a meme coin it's gimmick is failed coin history.

Luna represents a problem for crypto. not what happened but the reponse and fact anyone would still hold it or think it might recover. this is people's money and effort tied up in something dead, that could be in something more productive. too much fragmentation and sky high valuations where the best prospect is catching a market wide bid to exit. we'd see better recovery if they died and capital consolidated elsewhere. too many projects chasing the same bid.

anyway, in the mean time i'm off to short LUNC.
 


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