Bitcoin is still early

[jacoavlu]

It had dropped to 1:0.88 at one point. Not looking stable at all. If it can’t stay pegged to the dollar at really close to 1:1 it practically is worthless.

yep, folks paying 100 USDC to receive 90 tether. Tells you something

[xraygoggles]

If you wanna see real time sentiment on chain you can see Curve 3pool where normally it's 1/3 DAI/Usdc/Tether. Currently it's 45/45/10. Everyone dumping their dai and usdc for tether.

Truly we live in 🤡 World when Tether is considered the stablest of stablecoins.

[jacoavlu]

If you wanna see real time sentiment on chain you can see Curve 3pool where normally it's 1/3 DAI/Usdc/Tether. Currently it's 45/45/10. Everyone dumping their dai and usdc for tether.

Truly we live in 🤡 World when Tether is considered the stablest of stablecoins.

did you see the guy that accidentally accepted $0.05 tether when panic dumping $2M USDC?

https://twitter.com/nebraskangooner/status/1634691720460791810?s=46&t=06M7iHiSGs-ncspnXTt5zQ

[xraygoggles]

did you see the guy that accidentally accepted $0.05 tether when panic dumping $2M USDC?

https://twitter.com/nebraskangooner/status/1634691720460791810?s=46&t=06M7iHiSGs-ncspnXTt5zQ

Literally ngmi

[jacoavlu]

Another bank run (this time in US not overseas) yet Bitcoin sputtering round 20k.

If this isn't a use case for it, what is?

👀

[MMJB LLC]

👀

A vehicle for excess liquidity in the financial system to reduce inflation in real world assets.

[MMJB LLC]

Another bank run (this time in US not overseas) yet Bitcoin sputtering round 20k.

If this isn't a use case for it, what is?

A vehicle for excess liquidity in the financial system to reduce inflation in real world assets.

[xraygoggles]

👀

bitcoin mooning on news that the US central bank bailed out the financial system - just like Satoshi intended!

Strange indeed.

[jacoavlu]

bitcoin mooning on news that the US central bank bailed out the financial system - just like Satoshi intended!

Strange indeed.

Satoshi: “The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”

[NapoleanDynamite]

Another bank run (this time in US not overseas) yet Bitcoin sputtering round 20k.

If this isn't a use case for it, what is?

This didn't hold up well.

[xraygoggles]

This didn't hold up well.

Wait, you think the pump this morning is because people are fleeing to crypto for safety? Lol. IT's an epic short squeeze, that's all. CZ also transferred 1 billion of BUSD into BTC and ETH over the past 24 hours. Will deflate shortly

Bro, the 3 largest banks in the US which onramp fiat onto crypto for companies literally went boobs up. That is the least bullish thing possible. Not to mention equities market shaky af, and we all know how correlated SPY is to crypto.

[Nash22]

Wait, you think the pump this morning is because people are fleeing to crypto for safety? Lol. IT's an epic short squeeze, that's all. Will deflate shortly

Bro, the 3 largest banks in the US which onramp fiat onto crypto for companies literally went boobs up. That is the least bullish thing possible. Not to mention equities market shaky af, and we all know how correlated SPY is to crypto.

This was my point on the other thread with asinine financial media headlines like "Gold, crypto rise after investors flee to safety" while simultaneously "Gold, crypto rise as investors bet on fed stopping rate hikes due to SVB collapse"

[Nash22]

Presumably you would play this by loading up on BITI today as it is down 25%

[xraygoggles]

Presumably you would play this by loading up on BITI today as it is down 25%

Lol, I avoid leverage when making crypto plays - it's already volatile enough!

BTC miners are on their deathbeds, something to look into if ur into shorting. NFA

[Nash22]

Lol, I avoid leverage when making crypto plays - it's already volatile enough!

BTC miners are on their deathbeds, something to look into if ur into shorting. NFA

Not many other options to short crypto unless you want to directly trade futures or short crypto-related tickers like MSTR. VIX too high to be playing around with long puts.