/biz/ - Business & Finance

All the VCs and CeFi lenders who did the copy+past eth 2.0 carry trade are now fucked.
The whole idea was that Eth 2.0 staking was going to net them about 4% APY. So they all did the following carry trade:

Borrow liquid token with low interest, sell, buy Eth/stEth which will give higher yield.
Except Chainlink announced 5% minimum APY on its own staking. This is CATASTROPHIC for a carry trade. Now add the fact that their stEth is illiquid. Now add the fact LINK is increasingly iliquid. Add the fact that their Cefi lenders are tightening due to this cascade of VC deleveraging.
This is why they have resorted to naked shorts on AAVE where they risk being seen. They are taking liquidity wherever it is.

They basically need LINK to plummet otherwise they are in trouble. However they seemed to have blown their load trying already. If LINK moons against eth even 40% more they’ll start getting liquidated in cascade.

Link escaped the bullmarket hype. VCs were never big on it. Retail was absent. It was only used as collateral in carry trades or for market wise shorts.
This means there is not nearly the same sell pressure and deleveraging for LINK as the bullrun favourites. They are seriously in trouble.

>>49778332
Whale here. Keep an eye on the charts tonight, we're just getting some others on board before we begin. We're all gonna make it.

All these shitty amateur projects are now going to have to sell their reserves for funding to stay alive or for profits while the market is crashing or down. Because they are incompetent. Thats additional sell pressure in a time little buy pressure exists. Its why ETH(a popular reserve token for many projects) is getting extra fucked.

Sergey on the otherhand sold through the bullrun. There will be no need to do so when the market is down and on lower buy pressures.

This is a further huge stress for these retards who fucked up. Now add the fact the free supply of LINK will shrink by almost 20% within months.

They have almost no time to escape this trade. Once some whales notice and hunt them its lift off

So is LINK going down more or what?

>>49778533
thanks for the hopium reddit spacing fag

>>49778573

Im phone posting u cuck.
>>49778571
If some whales hunt them its going to explode up. However if these fucks can find enough tokens to defend themselves by dumping against the strong inertia against them it can go down but the tide has definitely turned now at least till they get liquidated or give up

LINK is about to crash down to $4 along with the rest of the alt market, I don't see how these whales are "fucked"

Are linkies the new XRP schizos? Kek

>>49778573
>r*ddit spacing is older than r*ddit
I wonder who pushed this shit for years to create conflict for no reason. It's almost like newfags will fall for anything at this point. Snacks used to ban people like you for the lulz

>>49778714

Speaking of that shitcoin notice how its also been holding up well? Because the VCs all skipped it. It was not part of their over leveraged and ponzi copy paste trades

>>49778770
>notice how its also been holding up well?
Anon, I... What?

>>49778477
Checked

>>49778893
Look at XRP. Look at Litecoin. Look at fucking BSV. They are all pumping versus BTC and ETH because no one gave a shit about those coins during the bullrun so there is a lot less deleveraging going on now that we are in a bearmarket.

>>49778724
>You now remember W.T. snacks.
fuck, such nostalgia. I miss those days.

remember CLG faggot posting a chart with link targeting $222 in late 2021? also where is the 10x defi TVL?

chainlink team literally cashed out on peoples expenses while every other shitcoin was pulling a 10-50x

CLG you are the biggest loser alive, imagine shilling a project 24/7 just to rip off inexperienced investors. you didnt even hold link yourself over all this time, or atleast a measly stack of a few k link token. kys you little cunt imagine sucking the devils cock you will burn in hell nigger

>>49778332
>>49778341
>>49778431
>>49778533
based OP. Seems like we know there will be a decent amount of market buying of LINK on the 21st and 22nd. pump eeet

>>49779011
This the new pasta? >>49778799

>>49779001
>nostalgin for Snacks
>9001 GET
He's still here with us in spirit. I'll head to Baltimore immediately and hand out booze to bums. Bless us every one.

>>49778332
youre a loser. get your shit together

>>49778332
>trusting a fat Jew

>>49778999
BCH is up 11%

>>49778724
Shut the fuck up you stupid fucking kike. Go the fuck back.

>>49779150
HOLO, BAT, NEO, QNT, EGLD, THETA, XLM, ADA... All obscure and/or 2017 shitcoins faring relatively well.

>>49779054
This is the cherry on top.
3.6 MILLION linkies (so far) on withdrawal on Bancor. And they only get around 60% of LINK, the rest in BNT. Absolutely everyone will rush to market sell that BNT and market buy LINK to get close to their original stack.

So expect around 1-1.5 million LINK market buys next week all at once.

>>49778341
>>49778431
>>49778477
>>49778533
>>49778571
>>49778573
>>49779011
>>49779054

Thread he's talking about is here:
>>49727432
>>49727432
>>49727432

Context including wallet addresses, on-chain confirmation and liquidation prices are in there.

Short squeeze will likely happen soon, as this info was hotly discussed yesterday here and on twitter. There's blood in the water and someone's going to start chopping very soon.

For fuck sake, hold link ONLY in your wallet -- get it off any CEXs or DEXs as soon as possible. The CEXs likely don't actually have enough Link to honour everyone without market buying at a loss if the liquidations begin. You'll likely be fucked if you hold on a CEX when the party starts. Don't do this to yourself when we're so close, anon

>>49779347
nope, i withdrew link from bancor and got back 100% link

>>49779577
When did you withdraw?

>>49779125

Obviously under water VC im talking about. This is a completely atypical and irrational response in a LINK thread

>>49779577
from v2 not v3. this is all v3 and people are getting around 56% of their LINK and the rest in BNT. you can check on chain and verify yourself.
>https://etherscan.io/token/0x516c164a879892a156920a215855c3416616c46e?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a

>>49778676
it only needs to pump against ETH not the dollar
and it is pumping against ETH

>>49779618
fuck off johnny horsesucker

>>49779125
wow, an actual outsider seething

>>49779602
yesterday. just want to feel safe
>>49779618
correct, my link was still in v2

>>49779125

Seethe nigger

>>49779157
>>49779720
what is with the irrational seething posters in this thread?

>>49779618

Ftr i dont have an issue with how BNT handles IL. I think its always been communicated. However obviously it can be inconvenient if done at wrong times. Its better than alternatives for IL.

Alternatively remember that this could be said VCs withdrawing to try save themselves. Its hard to know at this point. Either way its a sign against them imo.

Please lets not turn this thread into a Bancor hate thread. Lets try keep on topic. The Bancor situation is definitely very relevant though

Sorry but I'm just gonna keep holding my 56 LINK tokens on binance get fucked retards no short squeeze for you

>>49779835
we got a whale over here

>>49779859
>we got a whale here
Will be unironic in 6 years

>>49779835

Binance are likey the least fucked up out of all of the parties imo. CZ has proven quite based. That said there is strong evidence he has fucked about with his platform to suppress LINK in the past but not lately. He seems to have accumulated pre 2020. He even seems to push adoption of LINK.

>>49779616
I've been in these threads for the last few days. The desperation coming off these people is hilarious. One or more of the entities about to get the rope has definitely been hiring these people all along to fud link on this board and others. And now that the music has almost ended, shit's probably hitting the fan. Imagine VCs not even knowing what to tell their paid fudders to say anymore now that this has been exposed on-chain for all to see...

You can't pay Indians and low-iq dropouts to defend your idiotic short positions forever...in what world was that ever a winning strategy?

VCs mistake was thinking that they were more powerful than the free market. In crypto, the free-est market of all time. They deserve to lose it all

>>49779915
Chainlink recently hosted a video on their channel about upcoming BSC interoperability. CZ is behind them now.
Another knee bent.

>>49779971
Yeah, binance has proven to be the most competent CEX, but it's still a CEX. Don't hold your shit on it.

>>49779971
I don't see it on their channel, can you post?

>>49779897
mental illness

>>49779618
>people are getting around 56% of their LINK and the rest in BNT
proof?

>>49779897
>Will be unironic in 6 years
2 years.

>>49778332
>got my 1000 LINK tokens off binance and straight into my ledger
I'm comfy

>>49779770
Newfags who bought link at 20 or higher lmao

So what price for link after the short squeeze?

>>49778332
It’s common knowledge that 90% of LINK OG’s came from /pol/, and are thus unironic Nazis and extremely racist. This is evident when you look at the chats whenever Chainlink presents at conferences such as consensus or smartcon. It’s always N word this, N word that.

I personally don’t want to put my money into a project like that and keep that sort of company. Moreover, I question the intelligence of people who shill LINK given their backwards and racist political views.

>>49778332

Sneed this to go viral on CT

>>49781122
$16

>>49781161
Nigger

>>49781317
Disappointing kinda lol

>>49781317
That puts me back to 6 figures again… hooray

>>49781161
Boring

>>49781161
200% NIGGER

LINK OG

>>49781161

And I came from biz you kike faggot

>>49778770
>>49778999
Checked
My main bags are link, XRP and BSV
I'm so comfy right now

>>49780382
its all on chain bro but i want to respect the OPs wishes >>49779796, so i will source you and then refer you to the bancor thread currently up.
>https://etherscan.io/tx/0xe716d80410aecf32fbcafa973e221cbf1fb7e49b5e82f2869190a3cdd08c62cc
this anon actually got back 55% of his LINK and rest in BNT. and this was on a stack size of 55 LINK total. its effecting big boys and little boys the same

>>49779223

Exactly and its even more evidence of what’s happening. Arthur Hayes has written some good pieces why these VCs have “no choice but to puke” their holdings of certain copy+paste trades

when should i buy link bros fr fr

what price

>>49783794
CBDCs have jack shit to do with link. Why would fedcoin be on a public ledger? That’s retarded. All these CBDCs will be on private blockchains and interoperability is not needed.

>>49784259

If only you knew kek

>>49779835
Nobody has that much link

>>49784259
>interoperability is not needed
You should do some reading
https://www.ie.foundation/content/4-publications/studie-establishing-a-digital-euro.pdf
https://www.ecb.europa.eu/pub/pdf/other/ecb.20210412_useofdltposttradeprocesses~958e3af1c8.en.pdf

>>49778341
>5% minimum
replace minimum with what it actually said, which is maximum. you're entire argument has just been derailed.

HODL THE LINE, MOASS INBOUND LINK MARINES. WWG1WGA, HEDGIES NAKED SHORTED, $1000 EOY CHECK THE FLOAT STINKERS, 2 MORE WEEKS AND WE SQUEEZE TO THE MOON!!

will I make it with 25k? too depressed and unhappy with my job to think about what I lost.

>>49781122
81k

>>49784259
Because their private blockchain will still have to interface with the real world for it to be of more use than a chocolate teapot. Guess what's needed to do that?

>>49783794
>>49783794
bump

>>49781161
NIGGA NIGGA NIGGA NIGGA NIGGA NIGGA NIGGA IM 200% NIGGA

>the squeeze will be squoze fellow linkmarines!!

Stinky link

>>49779408
Coinbase wallet ok? Or do I need to pull into cold storage. I’m a Linklet so I haven’t bothered setting up off-exchange wallets for it and I’m considering scalping this opportunity as it’s for sure going to be a limited time pump opportunity if it’s not fake and gay.

>>49785540
Some here saying the supply squeeze on Link could be so great that exchanges 'lose' your tokens and compensate you with a multiple of the fiat value, which will be in their interest. I'd get a ledger or trezor and get them off there if I were you

>>49785962
You deserve to lose everything you cuck

We’re pumping against Eth. It’s happening

>>49786329
Why do you say that? Are you one of these super-tech geeks who carries a laptop about instead?

>>49786387
so what does your thread mean?
so many terms.
is LINK going up or down.
dumb it down a little. what the fuck is carry?

>>49786735
Buy ETH, stake ETH, deposit staked ETH as collateral, link, dump it and repeat. Then what happens is staked ETH is no longer at 1:1 collateral with ETH because people are removing ETH from the pool, so it unpegs then some of those actors begin dumping their ETH which drags the price down which begins compromising their position. Before you know it, those initial shorters have to follow the waterfall and undo their entire trade process and buy back link which further dumps the price of ETH and keeps the price of link relatively stable. However, if link was to suddenly go up against these market conditions then those shorters would get liquidated.

>>49786930

>>49779915
wtf are you talking about
CZ is the biggest bandit in the game and suppressed countless tokens pumps when they were listed on Coinbase, arbitraging something like 50% differences. Most ruthless gook in existence.

>>49778676
I hope so, I need it go to 3 dollars for my final slurp

>>49778332
>89% down from ATH
yeah, let's wait for 93%

>>49784544
it's going to be 5%
if you check the announcement post and you calculate the "rewards fund" you will notice it is exactly enough to cover 5% of the 75million link that will be initially staked

so when they said "up to 5%" it didn't mean below 5%, it meant normal rewards + sergey's rewards = 5%. if normal rewards were somehow 0, sergey would pay the full 5%. if normal rewards were somehow 5%, sergey wouldn't pay anything

>>49779770
there was some shill campaign a year ago to connect LINK with bancor
>"hello fellow marines how do you do! you are on bancor are you not? do you have a 1:1 LINK/BNT stack?"
i guess some fags fell for it and now they are extremely hostile to anything remotely negative to bancor

>>49788329
I want to strangle the fags who pretend like bancor was always this link friendly protocol and not foreskin munching kikes who were already looked down on last cycle, along with anyone who pretends 42 is some fucking OG (although I think at this point its mostly people memeing like with clg)

>>49785540
Never used it, but if it's self custody (i.e. you have the keys) you should be good (for the short term). For gods sake get a hardware wallet, fren.

Summoning wallet autists, especially the one from the original thread.
Link twitter faggots need to push and spread this out harder too

>>49789389
CLG retweeted this at some point, but the faggot ended up deleting it
i guess he's balls deep into aave (12k link parked), so he has a personal interest

>>49789444
he only has 12k? I must be much richer than i realize

>>49789444
Checked and yeah I noticed that too. He had retweeted 2 of the main threads but then removed both.

>>49781061
They only have to wait the bear out. No one loses untill they sell. they could go partake in events for freebie tokens in refferel rewards in Biswap and airdrop campaigns in Equilibrium while they wait it out.

>>49790925
They torture themselves with the idea they've 'lost' whatever they were up and panic sell in case they 'lose' even more. You make that mistake early on and either leave forever or don't do it next time

>>49782607
How do you know they didn't withdraw both LINK and BNT?

Does Bancor V3 allow withdrawing all assets in a single transaction?