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12151822 No.12151822 [Reply] [Original]

Daily reminder that you should use MakerDao to LONG ETH instead of Bitmex.

>LONG ETH with ETH
>Use ETH to create stable coin DAI
>Buy more ETH with the new DAI
>No more using shitty mexican exchange for leveraging
>https://cdp.makerdao.com
>https://www.youtube.com/watch?v=sLRDWTtNC04

>> No.12151829

How does this work? I've been considering buying some for weeks now but am too retarded to do the research it seems complicated.

Why isn't it listed on Binance though and why is the volume always so fucking low for such a high market cap coin?

>> No.12151837

>>12151829
Watch the youtube video

>> No.12151869
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12151869

>>12151822
Daily Reminder longing ETH in a bear market is retarded

>> No.12151897

>>12151829
You lock some ETH and borrow Dai. 1 Dai = 1 USD. Then you convert your Dai into more ETH, and lock it again, and get more Dai, and so on.

>> No.12151913
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12151913

>>12151822
yeah totally man, oh shit what a good investment.

>> No.12151919

>>12151897
So it is for locking the price of your ETH?

I don't need that I already have a ledger and locked my ETH in at 1.2k. I'm thinking about buying some cheap ETH now.

>> No.12151938

Why would I do this when I can short ETH and be paid in BTC on Bitmex? Why would I want to have more ETH?

>> No.12151939

>>12151897
Explain the part about liquidation’s, I’m sure people need to know that

>> No.12151949

>>12151919
lmao
ok

>> No.12151958

>>12151939
If you are retarded, you'll let your loan get liquidated.

>> No.12151969

>>12151897
>>12151822
Ok I watched the video very interesting it's like a version of ETHLend that isn't complete shit.

What are the tokenomics of owning Makercoin though?

>> No.12151976

>>12151958
Explain it for the noobs, might as well considering your shilling this. It will also lead into the people who provide liquidity for the system by buying cheap eth

>> No.12152084
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12152084

>Ethereum would have to go all the way to $83 before this position would get closed and liquidated