/biz/ - Business & Finance

LMAO

fuck you

>>49696990
>getting liquidated by a stablecoin
this has to be the most embarrassing thing in crypto

>>49697478
Imagine the gains I could've had at $1.001 though

>>49697478
Tether is so desperate, they started distributing futures contracts to meat grind their way back to parity.

>>49697478
>UST

dont understand trying to margin a stable but I never really paid attention to the movement but still

>>49696990
You can long stablecoin?

>>49696990
The middle one is mine :'(

>>49697662
why did you do it

>>49696990
fucking hell

>>49696990
i don't understand what this means

>>49698249
tards lost 49.9k, 30.7k, 58.8k USD on crypto dollars.

>>49698367
you didn't explain anything

>>49698249
>>49698451
people shorted (made a bet that price would go down) USDT and inevitably lost their money
the reason why people do this is because they believe in conspiracy theories that USDT is not backed by actual dollars

>>49698249
GO BACK FUCKING RETARD3

>>49697478
uncharted levels of degen have been reached.

>>49698513
thst sounds like a huge gamble even if you do believe that

>>49698513
ok, so really it's a bet that the fraud will be discovered during the period of the short. got it.

>>49696990
can some non-faggot explain to me what all this gay shit is? I do regular options in the market and I've never fucked around with crypto

The lowest it's ever gone on there is .995. Are people actually opening 200x shorts at that point?
How the fuck does this happen.

>>49698582
There is no gamble if you follow up close the shit behind every coin, they probably listened to a retarded youtuber claiming it would have the same fate as luna without actually doing a little research

>>49698513
>t. increasingly anxious tether shill
it's ok, you can get a job "fighting vaccine disinformation" when tether blows up

>>49698635
I didn't zoom out far enough, it went to .9480 last month. Still a retarded trade by all means.

>>49698634
The shitcoin is called USD Tether and has stood strong at $1 for many years.

>>49698634
people shorting tether because they think there will be a bank run that makes it depeg and go to 0. theyre retarded because $1 is as high as the price can go so they should have made sure their liquidation price is over that

>>49698249
>>49698513
>>49698582
go here and check rekt
https://bitcoindashy.com/

>>49698759
i mean, wouldn't every stablecoin be pretty stable right up until it collapses? as soon as it proves to be unstable, it's useless, and sees a huge drop, quite possibly to zero.

>>49698832
you can trade 1 tether for $1 on tether's website so it would only collapse it they ran out of reserves to buy it back. thats prob why they are so secretive about whats backing it, because if they were open about it and its fractional reserve or bonds or commercial paper that takes time to cash out then quant firms like alameda know exactly how much they need to do a bank run and depeg it and they become a target

>>49698708
What other stablecoin would you recommend?

>>49699260
BUSD
Dai