/biz/ - Business & Finance

Alright tell me why nobody is 100x long xcm at 0.6?

>>49704348
nice. price floor is good because its not a scam because of price floor. price floor = not scam. sorry for bad english.

tldr price floor not scam because artificial price floor

basically what im getting at is price floor means price cannot go below floor price of 60c floor. that means price does not go below 60c. why? because price is floored at 60c! this is what real projects do not scam projects, as scam projects manipulate market with no price floor (at 60c or otherwise) so basically it cant be a scam because of price (floored at 60c)

>>49704362
We don't know at what new price floor Coinmetro will liquidate the longs, could be either the old price floor of 0.12 or perhaps somewhere around 0.2 Euro.

if the price didnt have a price floor at 60c that means people could sell at whatever price they wanted (if no price floor in place). this would be catastrophic for the price as it would not be locked in at 60c. so a price floor at 60c means its good and not a scam

>>49704362
Because its an obvious scam and will implode like LUNA and Celsius. No one wants to touch that shit.

>>49704348
that's a good idea, I wish satoshi would do the same for btc

Give it to me straight, are my money gone?

>>49704362
because they dont have futures and the token is ONLY on their exchange, not even a chain for it.

why not just impose a price floor of $1000 then

>>49704514
Are you kidding, it's a retarded idea and would actually make Coin Metro lose a lot of money

>>49704362
A lot of degenerates did and now they have to pay margin fees forever because they can't close. Buy yay risk free magic money. Retards.

>>49704348
so I'm stuck with my XCM bags because i staked for a year? Now I can't sell shit. Fuck you Kevin.

>>49705732
>>49705443
>>49704733
>>49704722
>>49704635
>>49704577
>>49704514
>>49704486
>>49704462
>>49704438
>>49704431
>>49704391
>>49704362
>>49704348
Don't look at prices, talk to friends and family buy some XCM.

>>49705804
why would i tell people i care about to fall for a scam exchange?

>>49706128
Why would you stake for a year on a project you don't believe in? Post staking plan.

>>49705732
There's like 80k XCM available to sell for eth pair. Obviously lower than 60c, but XCM was 20c a month ago and it's a lot higher than that (40c).
I don't like this either though. It seems sketch.

look at dxy computer

>>49706272
it was an interesting project a year ago, now it's clearly a dumpster fire

>>49705804
no i dont think i will you indian freak

>>49706583
So you allegedly staked for one year a year ago, didn't cancel your staking plan with no loss to your initial investment for any of that time and now choose to call it a scam when you can sell it above 40c on the ETH pair which is above the ATH in sats for most of the projects lifespan and higher than it was any time between June and October last year. You are a nigger.

>>49706636
You broke character anon.
>>49704391 >>49704431 >>49704462

>>49704348
Takes a pleb few seconds to figure how scammy this shit is.. its written all over.
why won't countries yeans for Defi regulations, prolly why Alliance block cooking TIDV( trustless dentity verifiication).
scams won't go off till we hae some sort of compliance to regulations

>>49707317
Known indian spam project.

I am max long xcm, how many months till 0.7 euros?

>doublejabbed
>got covid
vaxxsisters...

>>49711826
That means it's working.

>>49711897
You're lying.

where's my debit card kebin

>>49712077
I did tell you not to get the vaccine and you responded by telling me you were already infertile so there was no point worrying about getting it.

>>49712369
I'm not worried about th vaccine itself, the only "good" reason to get it was because I needed it to travel for surgery. I doubt it's going to make me die of a clot at 30, I'm just really disappointed it doesn't even work when I was forced to get it. I've at least argued against forced vaccines since I think that in itself is wrong, but to discover that the vaccine doesn't even work is just retarded. Imagine forcing people to do something that doesn't work. What a complete and utter waste of money.

>>49712546
They don't even claim it prevents infection. They claim it reduces your chance of complications / death from covid by about 90%.

>>49712609
Do they have any data to verify this at all?
For example data is collected improperly could be correlated, but caused by something else such as just generally avoiding crowds and getting a smaller infection in the first place.

>>49709538
How does 2024 sound

>>49712707
I don't follow the topic too closely. At the start of the whole shitshow I decided the vaccine is too new and experimental for me and just didn't take it. Then everything got so political I treat every piece of data I come across as malicious disinformation manufactured by cultist or zealots. It's all so tiresome.
Anyway, you'll be fine. Don't stress it.

kevin must be the most retarded man on this planet
> adds price floor
> can't provide liquidity for it
> claims it represents company valuation
> thinks we're not in a bear market
> still claims his price floor was a great idea
> sells keep piling up at a rhythm of 100k a day at least

inb4
> hey guys we upped the price floor to 1 million / XCM
> ahaha
> what you can't sell?
> i'm just protecting your bags bro
> look at all the money you made

>>49712969
I haven't followd th topic either, it became political and everyone was just raging and writing insane ramblings so I just tuned out both sides of "you'll instantly die its a zionist plot to kill off the goys" and "the vaccine is the cure for cancer and and if you dont take it you're hitler and literally killing babies".
Not worried, just annoyed.

>>49713390
It has me worried. If I had more BTC I'd put them on my own keys for good measure, but it's so little I can't bother.

>>49713528
pfizer/moderna vaccines didn't do shit to mortality
at best it's good for old people to not die from lab-made covid, and bad for young people

anyways, i trust coinmetro with my funds, but i'm expecting XCM to either take a long time to recover (i.e. get buy pressure) or completely die
because i'm not ruling out the possibility that this was it for bitcoin
if there ever was a mad cycle, this one was it
weirdest fucking year of my life
this was what the tech boom must have been like 2 decades back

What stops you from dumping sub 60c in uniswap?

>XCM staking limit increase in the coming weeks

>>49713893
The same thing that stops most people from dumping all the eth. Low liquidity. You can only dump so much, and thn you need a buyer again. XCM has had low liquidity on uniswap for at least the past year, not sure if it was higher in the past, but when I checked a 8-9 months ago it was really low.
Right now someone probably already has, because only 1000 XCM would dump the price 72% on Uniswap. It's not really tradeable there.
If you really want to sell, dump on xcm/eth pair on CM, there's about 90k XCM available to sell if you want it for 40c.

>>49713925
Uncanny timing...

>>49714148
>Uncanny timing...
Not really, I am literally always positive anon. I don't feel worthy of posting anime girls otherwise. Check the latest voice message by the way.

>>49713925
Colossal, if verified. Source?

>>49714407
>Source
Trust me bro

>>49714270
That didn't reassure me at all, in fact it made me terrified. He said they're taking a risk with allowing people to use XCM as collateral on margin because if there's no buy orders they'll need to pay for that liqudiation themselves. In theory this means I can buy a bunch of XCM from other users, go 5x long on bitcoin, get liquidated, and force CM to buy that XCM to cover it?
If everyone did this because they already cant sell any XCM anyways so may as well use it as 60c collateral for margin, so if everyone gets pissed and goes long on BTC because why not and BTC crashes and they get liquidated CoinMetro would get absolutely fucking rugged by all the fake 60c longs being used as collateral for way too much BTC. Am I wrong here?
Doesn't this sound absolutely insane to you?

>>49714542
You are assuming it is collateralised 1:1 when he said before it would be more like 5:1. The last bit was the good part. It is hard for me to take you seriously when you post a canonically stupid girl while effort posting. It is like you don't trust yourself.

>>49714647
>You are assuming it is collateralised 1:1 when he said before it would be more like 5:1.
I haven't paid attention to their margin platform.
So liquidations in that sense may as well be considered buying back for 12c then if that's correct. That is slightly less worrying since I would assume they would want to buy at that price anyways to have more tokens to dump if it goes to 1-10 euro. Basically, they want to buy cheap and they don't want us to buy cheap (grr). I am still worried, but less worried since I already know there is a limit on how much XCM can be used as collateral, if it's also forcibly overcollateralized it's a much smaller risk than first assumed.
>It is hard for me to take you seriously when you post a canonically stupid girl while effort posting
>It is like you don't trust yourself.
I don't have all the info and at least 50% of 25% of the time I say or do stupid things that make no sense. It is hard to trust oneself when one has experience that oneself cannot be trusted 100% of the time. Cirno thinks having an open mind is the key to avoid the embarassment of the dunning kruger trap.
Not trusting myself saved me this time from sounding like an overconfident baka.

>>49715039
I refuse to learn how the margin platform works because I am pretty sure I would be trading with my whole stack at max leverage within a week of my first profitable trade.

>>49715183
That sounds about right. Every time I've done it has been the same as every time I've been in an online casino. Start small, promise not to use a lot, just a little bit, and not long after that then start looking at the savings account and turn risk to maximum leverage/high roller.

>>49704362
because a dirty trick like this can only end in bankruptcy

>>49704348
>The floor has been imposed to protect investors and XCM cannot be sold below 0.60 Euro.
What's their collateral to protect the peg?

>>49715440
>What's their collateral to protect the peg?
>collateral
>peg

>>49715440
Simple, XCM. The XCM is all backed by XCM and since the XCM can't be sold under 60 cents this means that the peg will hold a minimum value of 60 cents. It reminds me of that fibonacci shitcoin that claimed it would increase the floor every time the price went up by x % causing the floor to rise just like XCM. I don't know if it was a honeypot or what though since it was just a bot spammed shitcoin with no low activity so I didn't look into it (https://archived.moe/biz/thread/47773259/#47782100, doesnt look good on dextools), but I imagine if it was real or it got bigger then eventually there would be no buyers and nobody could sell anymore due to zero liquidity. Probably some way for them to drain liquidity that has yet to be used.

>>49704348
HOLY COPIUM ITS HAPPENINNG. PRICE CONTROLS IN CRYPTO HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAAHAHAAHAHAHAAHAHAHAHAHAHAAHAHAHAHAAHAHAHAHAHAHAHAFUCKING LOSERS

>>49705443
>because they can't close
why is this?

>>49704348
also if their XCM is traded on other exchanges , you can still short it and Coinmetro has to dump shitloads of liquidity into it to keep the pricefloor peg. which means all the big bois smelled blood and will be rekking them. this is beautifull

>>49716673
Inside voice...

>>49716722
You can't close a long without selling and you can't sell without a buyer. That's how order books work. Longing is borrowing money to buy more assets than you can afford to buy, and to close the position you sell the assets to someone else in the orderbook.

>>49716742
It isn't. Would be cute if an exchange listed the exchange token though.

>>49716838
>You can't close a long without selling and you can't sell without a buyer.
Isn't XCM promising to sell everything offered for 0.6 or lower? Otherwise it's not a price floor, it's just a non functioning exchange.

>>49716928
See >>49716394

>>49716838
what will happen now ? Besides the few retards who can't close their positions and get rekt by margin trading

>>49716838
i mean no sane person would want to buy this pile of steaming shit after they announced a fucking price control topkek

>>49717153
It's not the first price floor, so it's not necessarily impossible for it to regain steam in the future. I'm not personally gonna bet my money on that right now though, I wanted 15c... If next bull the exchange is picking up users and growing market makers and overall getting better and more popular next cycle I could see the liquidity recovering. At that point if the token price is still low enough I might consider as long as I feel the exchange value has greatly outpaced the fear of holders desperate to exit and a pump might be imminent.
What has me confused is I assumed the floor meant they would automatically buy up any token under that price lol, I had no idea it was like this when the price floor was 12c as well.

>>49717432
I mean price controls generally speaking always end up bad. if a few variables don't go their way it's bound to break and then they are fucked

>>49717432
Trannies turning on xcm
Big sell signal