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/biz/ - Business & Finance

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18535319 No.18535319 [Reply] [Original]

It's over. They're taking all our money.

>> No.18535396

This is a good thing right?

>> No.18535422

anon.. no

>> No.18535464

It's fud. The futures market already caused the 2018 crash

>> No.18535467
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>> No.18535477


Good for bitcoin, bad for diy algo traders

>> No.18535506

this is good. everything will change.

>> No.18536099

>bitcoin outlawed, price crashes to zero, miners go bankrupt, 51% attacks on the blockchain
>this is good for bitcoin!

>> No.18536121

more time to accumulate, right?

>> No.18536838

Lol the biggest news in crypto, 8 replies. Smdh.

>> No.18536856

No, that means that bitcoin as an asset will be tamed. No more moon-missions

>> No.18536867 [DELETED] 

futures are gay

>> No.18536882

I wish they’d open up their funds to people with six figures of cash to deploy

>> No.18536919

why tho

>> No.18537008

There is more money to be made on the short side of futures + selling the real asset to crash the BTC market.

>> No.18537044

But you can't create bitcoin out of nothing so that game doesn't work without making the long term holders rich

>> No.18537085

You can with future contracts. You never have to actually buy bitcoin.

>> No.18537302


>> No.18537346


>> No.18537371

You guys are missing the point... this is literally the institutional money meme. The world's leading hedge fund is saying: bitcoin is an asset worth investing in (or shorting). The government gave them permission too.
This means the gate is open for other institutional money to follow their lead.

>> No.18537372

isn't that the most elite algo trader or some shit? we might be fucked bros

>> No.18537598

99% of the board has no idea who Simons even is. Not surprising considering that the average age here is 15

>> No.18537793

he'll pump btc to 100k

>> No.18537828

I thought they were super secretive about everything why would they disclose this to the public?

>> No.18537868

there is not enough liquidity in the bitcoin futures market for a big firm like Renaissance to do something serious with it

simple as

>> No.18537884


>> No.18537887

They obviously bought in already, check the nr of entities with 1000 or more btc graph, now they get msm to lure the normies in.

>> No.18537895

... and we'll see derivatives manipulate (i.e suppress) the price same as you see with silver prices right now.

>> No.18537907


>biggest news in crypto
Renaissance doesn't make money on "holding", they take a position for literal microseconds. This just means everyone will get scalped to death, it's the end of retail trading on Bitcorn.

>> No.18537925

If you knew who he is you would understand it's no bullish at all.

>> No.18538075

Hurr durr no one makes money on the stock market because simons' scalping strategies!

>> No.18538172
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did someone say...derivates?

>> No.18538186

>This just means everyone will get scalped to death
Nah, this market is corner-able and mostly cornered already.

>> No.18538217
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>> No.18538335

Very interesting news. I mean I certainly think Bitcoin will crash very hard during this depression--but if Renaissance was entering the Bitcoin futures market solely to profit off of shorting why wouldn't they have started doing so at the top in December 2017? Sure, they will short Bitcoin until it finds it ultimate bottom in this bear market cycle, but why wouldn't their team of physicists and math geniuses start longing the shit out of it at that point? Assuming the algorithms tell them the bear market is over?

>> No.18538352


This is such a retarded argument. Selling a futures contract obligates you to deliver the underlying at the expiration. Its no different than just short selling. If this was true everything would be $0.

And no, more money can not be made on the short side. In fact, gain on a short is capped when the asset goes to zero, while risk is infinite. And gain on the long side is unlimited and with limited risk. So actually its a fact here is more money to be made on the long side.

>> No.18538470

Yall sound like lifelong rapevictims going into preemptive self defense not to get your hopes of something good happening up. Ngmi. The world's highest regarded hedge fund just gave the nod to btc as a serious asset...

>> No.18538480

I think it's because they're maxed out on equities and have only decided to recently move into other products. They do sth like 80% returns on their portfolio...

>> No.18538534

This is correct. I hodled Bitcoin since 2014, then dabbled and pissed away most my money in altcoins since 2018. My trading psychology is now akin to that of a rape victim. I have been humbled and humiliated by my hubris, but I still haven't given up and won't until Bitcoin goes to 0.

>> No.18538552

My friend works at Renaissance. Has a physics phd and did research into pattern recognition applications in the market.

I just called him and obv he does not disclose anything.

Funny thing is I know his eth and btc wallet adresses and he did not buy BTC (maybe also not allowed). But he DID buy a shit load of LINK over thr past few weeks.

Take my word for what it is, but I expect they will mainly arb the markets and trade the derivatives as well (hence LINK). A year ago he did say he see BTC above 100k one day.

>> No.18538579

They're just gonna short the shit out of it. Fucking kikes FUCK FUTURES REEEEEEEEEEEEEE

>> No.18538589

Hey bud, why don't you keep your insults to yourself?

>> No.18538615

Only humans should be allowed to buy and sell assets

>> No.18538620

Did he say anything about LINK and what he thought of it?

>> No.18538625


same, my dad / uncle works for Renaissance. PhD in Math and makes 400mil/year. He said he couldn't tell me but heavily hinted to load up on LINK.

>> No.18538651

a shit load of link being how much exactly?

>> No.18538784

The number of link he has is higher than the dollar amount of link I have.
The number of Link I have is higher than the smallest primenumber above the smallest number that can be written as sum of 3 distinct cubed squares (a with a=x ^6 for some x)

>> No.18538808

With x>0

>> No.18538817

He will extract every single cent from your pocket

>> No.18539071

10 WHOLE links, he's a whale now.

>> No.18539114

Ok this is really interesting, fucking RenTec joined. RenTec...

>> No.18539118


>> No.18539150

Rentec made all their money through clever tax evasion and insider trading. My bet is they would seek to use crypto for these purposes.

>> No.18539193

My dad works at Nintendo and he says your friend is gay

>> No.18539263

CME futures are cash settled, that means they can take a short position with EQUIVALENT CASH VALUE, THEY DON'T NEED THE UNDERLYING, THERE IS NO DELIVERY OF THE UNDERLYING, and because fiat is infinite they can take short positions forever, it's truly evil and should be illegal

>> No.18539278

They probably dont think about investing but hf spot/fut arbitrage thats it

>> No.18539452

Think I found his wallet. Problem is the wallets address history conflicts with your words.


>> No.18539505

It’s exactly the opposite you're a fucking brainlet

>> No.18539760


That is really only a technicality, whether you have to acquire bitcoin to sell or settle for the cash value. Think about if someone tried to dump futures without touching spot, the futures price would drop below spot. To take advantage of the arbitrage you have to sell bitcoin. Only way to do that without actually having bitcoin is to short spot, which will require buying bitcoin to close. So if someone tried to manipulate the spot price by dumping futures, arbitragers would sell / short sport and that does require buying real bitcoin back to close.

>> No.18539901

but its Rentech so they must be doing something differently, right!

>> No.18540055

How do I get into a hedge fund?

>> No.18540078

phd in math, compsci, physics or related field

>> No.18540110

I meant how do I get to be an investor in a hedge fund

>> No.18540356

step 1.acquire more than 100 bucks for investment

>> No.18540409

biz thinks this is bad because they are margin trading retards
for smart long term speculators you lend to funds like this so you make 3.2-6.2% APR on a bitcoin savings account.

>> No.18540438

the AVD said you could open accounts as small as $1000 for some of their products

>> No.18540478

So they'll fuck retail traders. Who cares? I just hodl, so I'll get rich.

>> No.18540479

No, but he did suck off a guy named Link once...

>> No.18541566
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Go on...