Are we excited yet?

SummerK

BTC and Alts are going down good %. Looks like BTC at $30k is round the corner.

FileNotFound

SummerK wrote: »

BTC and Alts are going down good %. Looks like BTC at $30k is round the corner.

Really only looked an hr ago and it was booming haha.

This is mad market stuff haha

Phoebas

SummerK wrote: »

BTC and Alts are going down good %. Looks like BTC at $30k is round the corner.

Anyone who bought in yesterday when it went to $30k could have gone for their dinner, brought the dog for a walk and watched Fair City and would have been 40% richer at the end of it.

BrandonBay86

SummerK wrote: »

BTC and Alts are going down good %. Looks like BTC at $30k is round the corner.

Sell everything you have

seannash

SummerK wrote: »

BTC and Alts are going down good %. Looks like BTC at $30k is round the corner.

Heres hoping, made maassive cock up, bought cake at 14:20 last night,which was practically bottom for it, but my mate convinced me another dip was coming so sold at 18. Happy justt to get back to 18 to get my original position back

cnocbui

mcriot29 wrote: »

What did you invest in
They will all go up
Again soon

Bitcoin.

weemcd

Definite dip on the cards here. Alerts set. Sold half my BTC to buy it back should this drop below 35...

SummerK

FileNotFound wrote: »

Really only looked an hr ago and it was booming haha.

This is mad market stuff haha

Indeed it is, hopefully it settles in the next week but you never know :P

BrandonBay86 wrote: »

Sell everything you have

Initially i thought to sell but decided to wait and buy more if there's further dip.

Donald Trump

Do any of these exchanges have official, or de-facto circuit breakers?

Or does that go against the philosophy anyway? Maybe it would be no good only having a portion of them doing it.


I'm just thinking in terms of algos. I'm sure there are plenty running them.

degzs

weemcd wrote: »

Definite dip on the cards here. Alerts set. Sold half my BTC to buy it back should this drop below 35...

Do you move it to USDT or cash out ?

Whats the best way to avoid fees ?

grindle

Donald Trump wrote: »

Do any of these exchanges have official, or de-facto circuit breakers?

Or does that go against the philosophy anyway? Maybe it would be no good only having a portion of them doing it.

Wouldn't work at all unless there was a central regulator that they all agreed to. As it is the arbitrage bots even things out between exchanges but a well-coordinated dump will make arbitrage with low volume exchanges look like a teensy corrective blip and probably even cause those bots to make unwise decisions if the liquidity is low.

775k leveraged accounts liquidated yesterday apparently, one guy posted on Reddit that his friend had killed himself over losing everything. Leverage is no joke.

SnuggyBear

Usdt is no4 on coin market cap. Says it all

seannash

degzs wrote: »

Do you move it to USDT or cash out ?

Whats the best way to avoid fees ?

Well what are you looking to buy in a dip scenario?
Find the pairing (usually usdt or busd)
And swap out your current coins to whichever you need and buy back in if/when it dips. No need to change to euros of you are going to buy back in

NANO my saviour.

weemcd

degzs wrote: »

Do you move it to USDT or cash out ?

Whats the best way to avoid fees ?

I withdraw to USDT but I almost always buy another coin straight away. I've never taken any money out to the bank account yet. The amounts I be trading I haven't worried about the fees yet. Binance users may benefit using BNB but I haven't looked into it much.

Donald Trump

grindle wrote: »

Wouldn't work at all unless there was a central regulator that they all agreed to. As it is the arbitrage bots even things out between exchanges but a well-coordinated dump will make arbitrage with low volume exchanges look like a teensy corrective blip and probably even cause those bots to make unwise decisions if the liquidity is low.

775k leveraged accounts liquidated yesterday apparently, one guy posted on Reddit that his friend had killed himself over losing everything. Leverage is no joke.

Leverage can do the same damage in any market. Whether that is borrowing on margin like a lot of retail investors or gearing up on derivatives. Anyone who thinks they are big enough for it not to happen to them personally should ask Sean Quinn


Algos have caused crashes in traditional exchanges (as I am sure people are aware). Algos were blamed for the flash crash in 2010 by a CFTC report. Although that was later changed to blaming the root cause on a fella who was sitting in his parents basement in London spoofing orders. That fella made tens of millions from that basement trading over time and was actually gullibly scammed out of most of it himself on a shady land deal in Central or South America. Most of the trades though during the crash were cancelled retroactively. But you can't do that in your BTC market from what I understand. Once it is transferred, then that's it.



The reason I ask is that I looked at the chart of BTCUSD and it reminded me of that incident. Well aside from the strong trend down beforehand anyway. That was the reason I was asking.

seannash

weemcd wrote: »

I withdraw to USDT but I almost always buy another coin straight away. I've never taken any money out to the bank account yet. The amounts I be trading I haven't worried about the fees yet. Binance users may benefit using BNB but I haven't looked into it much.

Just in case any newbies are reading, BNB isn't a stable coin. If bitcoin dumps it will too

wally1990

Donald Trump wrote: »

Leverage can do the same damage in any market. Whether that is borrowing on margin like a lot of retail investors or gearing up on derivatives. Anyone who thinks they are big enough for it not to happen to them personally should ask Sean Quinn


Algos have caused crashes in traditional exchanges (as I am sure people are aware). Algos were blamed for the flash crash in 2010 by a CFTC report. Although that was later changed to blaming the root cause on a fella who was sitting in his parents basement in London spoofing orders. That fella made tens of millions from that basement trading over time and was actually gullibly scammed out of most of it himself on a shady land deal in Central or South America. Most of the trades though during the crash were cancelled retroactively. But you can't do that in your BTC market from what I understand. Once it is transferred, then that's it.



The reason I ask is that I looked at the chart of BTCUSD and it reminded me of that incident. Well aside from the strong trend down beforehand anyway. That was the reason I was asking.

On a side note, That's an excellent book actually ,
the flash crash, the trader was navinder Sarao

If anyone is interested in books about the markets, that's a great well written story
Highly recommend it , easy reading too

grindle

Donald Trump wrote: »

Most of the trades though during the crash were cancelled retroactively. But you can't do that in your BTC market from what I understand. Once it is transferred, then that's it.

Trades have been rolled back before, depends on the exchange. There was an ETH flash crash a few years ago that Coinbase stumped up millions for but left the trades as-is.

One More Toy

wally1990 wrote: »

On a side note, That's an excellent book actually ,
the flash crash, the trader was navinder Sarao

If anyone is interested in books about the markets, that's a great well written story
Highly recommend it , easy reading too

That is such a coincidence... I ordered it today off book depository, 8 quid delivered looking forward to reading it. I've one book to finish before going onto When Genius Failed

Donald Trump

wally1990 wrote: »

On a side note, That's an excellent book actually ,
the flash crash, the trader was navinder Sarao

If anyone is interested in books about the markets, that's a great well written story
Highly recommend it , easy reading too

What book was that?


I read the 2010 report at the time. They weren't blaming spoofing at that time from what I remember of reading it. They were blaming some unnamed fund manager or something like that for a dodgy algo which triggered all the other algos. It was later on that Saro's story surfaced.

Donald Trump

grindle wrote: »

Trades have been rolled back before, depends on the exchange. There was an ETH flash crash a few years ago that Coinbase stumped up millions for but left the trades as-is.

Interesting. So they basically compensated the unlucky side and let the lucky side keep their "winnings".

I'm going to be buying another 10 NANO at 10pm lads, if any of you want to get in before the pump.

wally1990

Donald Trump wrote: »

What book was that?


I read the 2010 report at the time. They weren't blaming spoofing at that time from what I remember of reading it. They were blaming some unnamed fund manager or something like that for a dodgy algo which triggered all the other algos. It was later on that Saro's story surfaced.

Author
Liam Vaughan


Flash Crash: A Trading Savant, a Global Manhunt and the Most Mysterious Market Crash in History

One More Toy

wally1990 wrote: »

Author
Liam Vaughan


Flash Crash: A Trading Savant, a Global Manhunt and the Most Mysterious Market Crash in History

7.94 on book depository, go through the Avios E store to earn Avios if you're that way inclined

FileNotFound

Deleted User wrote: »

I'm going to be buying another 10 NANO at 10pm lads, if any of you want to get in before the pump.

Actually looked that up for the craic, in fairness its seeing some bump

Your the boards.ie Elon Musk

Whelo79

Has the American government just signalled that cryptocurrency is here to stay?

https://www.theblockcrypto.com/linked/105543/irs-biden-crypto-transactions-report-10000-tax-gap

FileNotFound

FileNotFound wrote: »

Actually looked that up for the craic, in fairness its seeing some bump

Your the boards.ie Elon Musk

You bastard :eek: :pac:

I've mentioned NANO a couple times lately because I've noticed a pattern with how it pumps in the last month. It can seem dormant on the charts for 10 days or so, and then bang it shoots off to a new local high.

I will be interested to see if today's gains hold into tomorrow. The current price is roughly the same as its price before the crash ($8-$9), it had a great day of recovery today. I'd be hoping that today's gains are part of recovery rather than part of that pump pattern where it will then go onto slowly bleed over the next few days. Of course, this is also largely dependent on how the overall market recovers in the next few days also.

*Wakes up tomorrow to see $6 NANO.*

grindle

Donald Trump wrote: »

Interesting. So they basically compensated the unlucky side and let the lucky side keep their "winnings".

Yup.

One seller dumping millions caused a cascade of bots trying to stop losses all the way from $317.81 down to $0.10. Buyers who had Hail Mary orders at the bottom got ETH for 1/3 the ICO price. Luckiest bastards alive.

27739x return in 1 minute

Idioteque

One More Toy wrote: »

7.94 on book depository, go through the Avios E store to earn Avios if you're that way inclined

Hold off buying lads - expecting the book price to drop soon by ~30%.

Buy the dip