[Daily Discussion] – Tuesday, November 08, 2022

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[Daily Discussion] - Tuesday, November 08, 2022

19 thoughts on “[Daily Discussion] – Tuesday, November 08, 2022”

  1. My takeaway from all these things is that trading is never profitable no matter who is doing it. 3AC, Celsius, Do Kwon, Quadriga, Mt. Gox, Alameda you think they are making all this money and you look behind the curtain and it’s a bunch of vapor. “Assets” like billions in FTT and CEL tokens, leveraged uncollateralized loans, bets made with customer deposits, and squiggly line NFTs. Zhu Su said it best.

    >

    Zhu Su 🔺

    @zhusu
    ·
    Feb 4, 2019
    Replying to
    @zhusu
    >Bad TA is not just marginally bad–it can mean being net down trading an asset that has gone 1,500x and is still 250x from start date.

    Crypto gains are crazy enough there’s no need to throw gasoline on the fire and blow yourself up.

  2. Of course the first trade I enter in six months is right before a bunch of exchange drama. This fucking market…

  3. Anyone recall what the Bitcoin price action looked like in the few days / week after the Luna collapse? Did Bitcoin crash and reach the local bottom that night? Or did it take a few days to fully bleed down?

    Just wondering what we might expect tomorrow and through the end of the week if FTT goes to zero tonight. My DCA buy is usually Thursday / Friday but maybe this week it could be Tuesday morning …

    If anyone has a crystal ball that would be super great, thanks

  4. Is there anything known about any party involved having to liquidate btc holdings/collateral etc? In other words what is to expect? If nothing big in store in terms of btc, TA wise – and for what its worth – I expect a bounce around 19.4k and a big fat btc middle finger to the entire crypto ‘industry’

  5. If CZ is pissed its a wrap for this market and all of us plebs, luna all over again but we running it back turbo.

  6. Well there goes Cz’s NoNukeNovember streak. RIP FTX. Couldn’t have happened to a nicer guy.

  7. 140mm bid at 14 on FTT. They’re making a stand. Below there is I guess where it gets DEFCON 1 for Alameda. Apparently FTX withdrawals are inconsistent, particularly larger ones.

    Edit: I guess Alameda’s creditors are unwitting FTX users.

  8. This seemed apt for today.

    >Remember, you can earn more money, but when time is spent, it’s gone forever.
    -Zig Ziglar

  9. Just tried to use the position builder in deribit for the first time in a few months and it looks like they overhauled it.

    And it sucks.

    It was such a useful tool. Guess I’ll have to do all the math by hand now.

  10. When life gives you 🍋🍋🍋 you open a 40x short 😁: https://i.imgur.com/1gUA7Iy.png (recovered my loss from the earlier 40x long). GG.

  11. Morning lads. FTX rumours have heated up to something a little more serious I see.

    Altcoin cancer and all the new fuckers that entered the space since the 2017 ico days have really messed things up. It’ll get worked out, but wow, btc is god’s gift to humanity and we still manage to wipe shit all over the whole thing and lose the plot with our ignorant greed.

    BTC is still chugging along fine, but super lame it gets lumped in with all the drama

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