/biz/ - Business & Finance

[Anonymous No.18243468]

Will Link ever fall below $1?
I took out a loan on https://app.aave.com/ using my Linkies as collateral to get DAI and buy more Linkies. Under 1$ I get liquidated and lose my entire stack.

[Anonymous No.18243480]

>>18243468
Do you really want to risk your freedom for the chance of buying 3 mansions instead of 2?

[Anonymous No.18243483]

>>18243468
>I get liquidated and lose my entire stack.
read this slowly and think about it

[Anonymous No.18243488]

>>18243480
What's the point of Defi if you're not going to use these protocols?

[Anonymous No.18243494]

>>18243468
You can't be fucking serious mate

[Anonymous No.18243501]

>>18243488
Using defi is cool. Gambling this chance away is not. Good luck anon.

[Anonymous No.18243506]

>>18243468
>>18243494
Just to elaborate on why this is retarded, how can you not look at your own behavior and not think "I have a serious gambling problem"

[Anonymous No.18243507]

>>18243494
>>18243494
I think my liquidation is actually like 60 cents. This shit is confusing

[Anonymous No.18243509]

>>18243488
Are you literally retarded or only figuratively?

[Anonymous No.18243522]

>>18243509
>>18243509
Yes

[Anonymous No.18243537]

>>18243506
>>Just to elaborate on why this is retarded, how can you not look at your own behavior and not think "I have a serious gambling problem"

I have sufficient collateral for the loan. Do you really think that We can go down another 50% after going down 50%, not to mention daily integrations.

[Anonymous No.18243570]

>>18243537
Are you serious in a CORONA VIRUS GLOBAL PANDEMIC ECONOMY yes i think we can

[Anonymous No.18243581]

>>18243537
shit went to 0.01 cent

[Anonymous No.18243590]

>>18243537
Have you really spent any time at all in this market and thought "Yeah, everything is stable"
Even before corona lmao
And don't say "We", I'm not in this fucking retarded game anymore.

[Anonymous No.18243593]

>>18243570
>>18243570
We can but is it really likely? Just look at the partnerships we've been having despite that.


>>18243581
Aave uses Chainlink decentralized oracles from multiple exchanges. So the pricing information is legit.

[Anonymous No.18243611]

>>18243590
>And don't say We", I'm not in this fucking retarded game anymore.

I only borrowed 1/5 of what I put in tho. Do you think the people collateralize Eth on MKR are retards as well? You can make money in crypto without selling the underlying assets. Think of the opportunity cost of not taking such risks my friend.

[Anonymous No.18243617]

>>18243468
When it is crashing and you are trying to reduce your debt and they stall the system
>goodluck

[Anonymous No.18243627]

>>18243611
>do you think the people collateralized Eth on MKR are retards as well?
Yes

[Anonymous No.18243629]

>>18243617
You guys should try it it's literally free money. Just Over collateralize the fuck out of your loan and you will be ok.

[Anonymous No.18243637]

>>18243507
So you are putting 50k links in game? Can't you market sell them so I can buy them on the cheap?

[Anonymous No.18243649]

>>18243637
It in a smart contract. You deposit Link and get aLink which is redeemable 1 to 1 for Link. You also get whatever $$ you withdrew and get paid interest since you contribute to the pool. I trust this dapp specifically because they use Chainlink oracles (https://medium.com/aave/the-aave-oracle-network-powered-by-chainlink-is-now-live-45bb8a5a8c4e))

[Anonymous No.18243735]

>>18243570
>>18243590
thing is, I fear that this shit could crash below 1$ given the current global meltdown too - I mean, when you look at the big picture, it seems more likely than now that this will actually happen in the next 6-8 months. but the thought of selling my stack now and rebuying when it hits those lows is too much of a risk. are you still holding even though you think there's s good chance it's going to tank significantly further?

[Anonymous No.18243741]

>>18243735
Yes hodling all and just hoping to buy more with fiat

[Anonymous No.18243749]

>>18243507

[Anonymous No.18243751]

>>18243735
>>18243741

Be fearful when others are greedy, be greedy when others are fearful.

[Anonymous No.18243776]

>>18243468
You are just one flash crash away from being a no-Linker, retard. Even if it only goes below $1 for a couple of minutes.

[Anonymous No.18243798]

>>18243776 best me to it. You probably wont see link under 1 dollar but it might just flash crash there. I personally think you are safe but so did I after longing from 8900 at 5x leverage ayyy I got liquidated at 3800 I think despite not seeing a price under 4000

[Anonymous No.18243850]

>>18243741
yes same, only got a few thousand spare in fiat but I'll hold to 0.10c if it goes that low & just buy as much as I can with the little I have. there's no way now that it's not going to succeed and go past the ath at somepoint, even if it crashes in the short term

>>18243751
right but what do you mean, are people greedy or fearful right now? seems like it's a mix of both. personally I'm scared for the coming crash and depression, even though I've got just enough liquid cash to live off until end of 2021 if shit gets really bad. but then the thought of sub $1 link makes me greedy AF to the point of contemplating swinging my stack

[Anonymous No.18243929]

>>18243468
If you're all-in on this, you're a losing player in the long run and shoud quit asap.

[Anonymous No.18243939]

>>18243798
3800 what euro? pounds? dollars?

[Anonymous No.18244750]

>>18243850
>literally the biggest collection of shitcoins known to man

[Anonymous No.18244885]

>>18243488
wow what an argument

[Anonymous No.18244908]

>>18244750
right, but the operative word now is "BIGGEST" cause fuck me, that's alot of literal who's to the point that the number alone is impressive

[Anonymous No.18244910]

>>18243939
Dollars, idiot

[Anonymous No.18244969]

>>18243468
Why don’t you just go to the casino?

[Anonymous No.18244999]

>>18244969
They are closed :(

[Anonymous No.18245671]

>>18243507
im doing the same, except using around 15% borrowing power instead of 33%. i think a 50% drop at this point in link is very unlikely as we most like saw the capitulation on march 12-13, but still want to protect myself just in case. we're living in 2030, the rest of these anons are living in 2020

[Anonymous No.18245702]

>>18243488
if you think Defi is just for glorified gambling like this you are ngmi

[Anonymous No.18245877]

>>18245702
smoothbrain here
i have link depoisted on aave now with no loans taken out
whatelse can i do ?

[Anonymous No.18246325]

>>18245877
take out a loan on one of the stablecoins (usdc, usdt, dai, susd) and use it to buy some link or btc or whatever. if the price of link or btc goes up, you can sell to pay off your loan and then keep the net profits.

the interest for borrowing stablecoins right now is only like 4%, so if you think the price of link will go up more than 4% sometime in the next year from the point you bought it (and providing you don't get liquidated because your collateral doesn't drop too low), you'll make money

[Anonymous No.18246342]

>>18243468
No. If all the crashes couldn't bring it down nothing will.

[Anonymous No.18246390]

>>18245671
Based. I plan on derisking with profits as we recover.

[Anonymous No.18246657]

>>18243483
Dude please reconsider this. Honestly, I'm begging you as a friend. We are all in this together and if you get liquidated you are no longer part of "We". After the Binance fuckery down to less than a penny, and the week of Black Thursday we went from a high of 4.95 to a low of 1.36. I don't know how big your stack is but for the love of God dont risk all of it. Maybe 25% or even 33%, but not all of it. Its just not worth it brother. Godspeed in whatever you decide

[Anonymous No.18247754]

>>18243468
Yes put more money in chainlink this whore needs another Mercedes