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/biz/ - Business & Finance

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14524661 No.14524661 [Reply] [Original]

So we are basically guaranteed to have a massive dump to new lows. Why would Binance do this to us?

>> No.14524724

>>14524661
>Why would Binance do this to us?
Because they are meanies.

>> No.14524729

because they exist to make money, not make you feel good

>> No.14524738

>>14524661
can someone translate this bullshit to a functioning retard

>> No.14524749

>>14524738
It's Pomp making unicorns out of stale shit again.

>> No.14524794

>>14524661
Why would Binance, a holder of mass amounts of BTC, want the price to drop, as well as the value on fees as the price drops.

>> No.14524844

>>14524738
Future = contract to buy/sell x amount of an asset (usually ten) at some point in the future (usually a year) at a price agreed at the point of purchase, e.g. buying a futures contract to sell, one year from now, 10 bitcoins at 10k per bitcoin. price of this contract (called a derivative) goes up if the price of bitcoin goes down, as people can buy the underlying asset below 10k and then use the futures contract to make a profit (hypothetically)

Leverage trading = taking out a very short-term loan with your asset as collateral, can be a loan in fiat when expecting the price of the asset to go up (this is a long), or in the asset if you expect the price to go down (this is a short)
in a long, you 'loan' fiat, buy the asset, sell it later on after it goes up in price, and pay back the initial. the difference is your profit.
with a short, you 'loan' 100 btc (or, in this case, 100 btc futures contracts), sell them immediately, wait for the price to fall and then buy them again and return them. you make the FIAT difference as profit.

the multiplier of the leverage contract refers to how much you are initially borrowing on top of your collateral - for 20x, you can borrow 20 bitcoin with one bitcoin collateral, which means that if you take out a long at 20x and the price doubles, your one bitcoin turns into 40 bitcoins.
however, since the company giving you the loan doesn't want to lose money and expect you to pay them back, if the total amount of your loaned assets AND collateral fall below the amount you need to pay back, then you are immediately liquidated and lose all of your collateral
example: take out 20x leverage long on one bitcoin at 10k, you need to pay back those 20 bitcoins / 200k. if those 20 bitcoins fall in value to 190k (9.5k per bitcoin), then your initial bitcoin will be liquidated and your contract closed, so that the lender can retrieve their 200k back

>> No.14524868

>>14524794
Binance will make money on futures whether it goes down or up. Everyone knows that people who play the future game purely short everything. Binance knows they will destroy crypto with this. That makes you wonder what Binance actually knows about the true fundamentals of bitcoin. Things are not looking good.

>> No.14524895

>>14524868
>they will purely short everything
Did you just sleep through the slrecent short squeeze from 4k to 8k?

>> No.14524921

>>14524895
I was completely awake for the pure whale manipulation.

>> No.14524935

>>14524661
I started listening to this guy when he had Sergey on his show but I’ve been noticing lately that he’s actually a blue pilled btc cuck. Very disappointed

>> No.14524960

>>14524921
It can happen anytime. Bitcoin goes up and down. A lot. Both sidea of the order book get annihilated regularly

>> No.14524973
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14524973

>> No.14525671

>>14524960
Yes, whale manipulation can happen any time. That is why we are collapsing to 3k with the help of futures.

>> No.14525758

>>14525671
short x100 then cant go wrong

>> No.14525777

>>14524844
Doesn’t the lender get 190k + 9.5k back so 199.5k?

>> No.14525906

>>14525758
You fucking idiot. I am a smart trader. Its going down to 3k guaranteed. but that doesn't mean it won't hiccup back up to reck shorts along the way. Stay stupid money anon.

>> No.14526865

>>14524935
This

>> No.14527307
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14527307

>>14524844
Quality post have a SEA cutie

>> No.14527357

>>14525777
i couldn't be bothered to do the math to bring it to 200k
the lender liquidates you when [Value of loaned assets] + [value of collateral] = initial loan

>> No.14527384

>>14524844
outstanding autism award of the day, anon. Godspeed

>> No.14527394

>>14524868
So they make their money liquidating shorts as per usual bobo.

>> No.14527413

>>14524661
are you retarded? bitmex exists already, it wont make the situation worse to have a competitior

>> No.14527465

Why none of the big exchanges offer options?

>> No.14527521

>binance futures use chainlink
>starts allowing staking link
>binance has the biggest link nodes
>literally controlling the whole market

>> No.14527524

>>14524661
You can already short Bitcoin on 100x leverage on numerous exchanges...why would a shitcoin exchange adding 20x make any difference?

>> No.14527598

>>14527524
It won't. Don't understimate the number of anons panicking that they missed the dip below $4k and want a second chance. But they won't buy then either. They'll wait for $1,800 like they did last time.
We're going sideways for a few months. Between $9k and $12k. We'll pick us steam in early autumn, and roll through to May 2020 before another correction.
Heard it here first, folks.

>> No.14527654

>>14527598
> Between $9k and $12k. We'll pick us steam in early autumn, and roll through to May 2020 before another correction.

I agree this seems the most likely scenario.

>> No.14527796

>>14524661
>more liquidity

are these people stupid?

>> No.14527896

>>14527598
I can guarantee you we will be bull running in july.
Screencap this post and reflect upon your IQ. 9k is unbreakable resistance.

>> No.14527995

>>14527896
Agreed, these bears need to look back at BTC's last parabolic run. There were several 40% dips so this 30% dip doesn't convince me the bull run is over. If we break down below 8k that would be alarming but I'm guessing we won't break below 9k.

>> No.14528051

>>14527896
> 9k unbreakable resistance
> price is currently > 9k

He said between $9k and $12k you retard. What are reading comprehension skills?

>> No.14528090

>>14527995
They're bobos, in 2017 they were calling the top every $1,000 and despite -protestations otherwise most actually missed the bottom a month ago calling for $1k or less.

I'm not 100% convinced yet this is THE bull run but it is absolutely a rally in the market with a new bottom and anyone waiting for 6k price again is literally dreaming.

>> No.14528108

>>14524661
this guy is such a faggot

>> No.14528111

>>14528051
My contention was with his statement it would crab for months, not anything about 9k. Though i think we might touch it and then move form there.