/biz/ - Business & Finance

[Anonymous No.22279909]

BITMEX LISTING CHAINLINK
What do y’all think this will do to the price?

[Anonymous No.22279955]

>>22279909
Very exciting

[Anonymous No.22279973]

Literally who

[Anonymous No.22279987]

>>22279909
>2020
>new exchange is news for link

[Anonymous No.22279996]

>>22279909

Shit, have a bad feeling about this.

[Anonymous No.22280003]

I dont know why the only way crypto normies understand Link is through calling it a DeFi product or linked coin.
It is not at all. It can just be used for DeFi. Just goes to show how fucking behind the curve these faggots still are on Link and how little they actually understand about it and its potential still..

fucking blows my mind how dumb most people in crypto are. Its literally a top 5 coin now and going to be listed as a USD prepetual contract even on bitmex and they still dont fucking understand it.

[Anonymous No.22280010]

>>22279909
So now faggot bears can 100x short that too? Oh thats just fantastic.

[Anonymous No.22280031]

>>22279909
This is going to pump the fuck out of the price
After that, it’s going to tank the price
Holy shit bros, we’re actually going to make it
Shitmex moves the market

[Anonymous No.22280069]

>>22280010

They've been able to do this on Binance for over a year.
This doesnt really mean much. Just Bitmex wanting a slice of the volume. Its going to be BTC settled so they wont even own any Link if they long it.

fuck that.

[Anonymous No.22280100]

exshtremely bearish sirs

[Anonymous No.22280112]

>>22280069
What does this mean for link price?

[Anonymous No.22280117]

It is USDT futures contracts, no one is gonna follow or arb this shit, they don't even buy or sell Link.

[Anonymous No.22280130]

>>22279987
kek this

[Anonymous No.22280152]

>>22280031
this. it's going to be an insane move up and an insane move down.

[Anonymous No.22280197]

>>22280003
I have honestly come to hate normies with a passion.

[Anonymous No.22280266]

>>22279909
This was announced a few weeks ago near the top, this is just a new article about it
>>22279987
Bitmex is bear central, the ultimate nuker of dreams. They caused the march crash to be as bad as it was and shut down in panic when they saw they were going to unironically take bitcoin to 0 (it then recovered)
https://twitter.com/SBF_Alameda/status/1238306306043162625

[Anonymous No.22280304]

>>22280266
BitMEX added bitcoin at the end of 2015, which was the start of the run to 20k.

[Anonymous No.22280309]

>>22280266
Fuck

[Anonymous No.22280331]

>>22280304

[Anonymous No.22280371]

>>22280304
Based

[Anonymous No.22280515]

Bought at the dip!

[Anonymous No.22280528]

>>22280304
What other coins/tokens does bitmex have?

[Anonymous No.22280539]

>>22279973
>Literally who
Ironically or unironically?
Bitmex means doom, prepare for crab forever now

[Anonymous No.22280670]

>>22280112

not much its a byproduct of links price.

It means that people who speculate on Link on mex wont even own it if they go long on it. cant think of anything more cucked than that lol

[Anonymous No.22280688]

What is a bit mexican

[Anonymous No.22280727]

Arthur is going to tell everyone to short it to death like he did with ETH.
ChainSTINK is about to get niggered.

[Anonymous No.22280734]

>>22279909
That ominous nigger is listing it on September 11.

[Anonymous No.22280757]

>>22279909
>can't even use bitmex if your an american
what the fuck

[Anonymous No.22280792]

Why cardano too? Yikes

[Anonymous No.22280825]

>>22280304
Bitmex was a very different entity in 2015. But I hope you're right.
>>22280539
I wouldn't call it perpetual crab, but Bitmex futures means the organic price action you normally see in shitcoins is over for Chainlink. It will have a similar "pressure up crabbing for a while while futures overleverage more and more and then instantly pop/bart" style as BTC/ETH. If it bottles up shorts it will pop momentum upwards (sort of like the zeus short liquidation from aave) and if it bottles up longs it will pop momentum downwards (like the btc march liquidation cascade)
>>22280112
There will be a whole new, liquid market of spot whales looking to short and then sell for a quick profit being counterpartied by whales who want exposure without moving the price, all while gamblers and trading bots try to squeeze every small movement. There will be a huge market of leveraged positions which will make price action feel a lot different than it does today.

[Anonymous No.22280861]

>i will tame chainlink

[Anonymous No.22280882]

>>22280727
cope

DECIMAL SHITCOIN

[Anonymous No.22280928]

>>22280825

This does worry me to be honest. Its possible that this can completely neuter price movement for Link. we wont see 5x in prices anymore from previous ATHs because of this.

Unless of course network demand is so high that Bitmex liquidty simply cannot keep up with it and it just acts as a thinly traded rape machine for people shorting it

[Anonymous No.22281000]

>>22280861
oh my god man why the fuck is that photo so hi-res haha

[Anonymous No.22281054]

>>22281000
checked. buy Tezos too ya dummies

[Anonymous No.22281064]

>>22280825
So manipulation forever.

[Anonymous No.22281080]

>>22279909

Now LINK will get those fat long/short squeezes from cascading margin liquidations to make those pretty bart formations. Unironically.

[Anonymous No.22281095]

>>22281000

[Anonymous No.22281181]

>>22279909
wait so does this mean i can gamble 100x with my stack now?

[Anonymous No.22281212]

>>22281181

no its BTC settled.
You will have to sell all your Link for BTC, send it to binance, then take out a long/short with the BTC on the Link/USDT contract.

[Anonymous No.22281216]

>>22280010
Faggot bulls can long it too. All it does it massively increase the liquidity in LINK which from a technical perspective is an unironically bullish thing. Normal traders dealing in amounts smaller than what margin traders are using will now be able to buy or sell with very little slippage. Margin inadvertently offers similar benefits as market makers in creating liquidity and volume so traders can enter and exit positions more easily, smaller swings are therefor more profitable, and the spread is smaller. As I mentioned in >>22281080, LINK will also experience a lot more volatility and bart-like formations with huge margin positions liquidating in a cascading manner, which isn't a good or bad thing.

[Anonymous No.22281236]

>>22281212
Send to Bitmex i mean

[Anonymous No.22281286]

>>22281216

you are missing the point its not Link settled. Its BTC notional.

No Link has to change hands for it to happen. There is no buying pressure on Link. It effectively dilutes the circulating supply and liquidity.
I dont know exactly how that works market wide on something like Link, but assuming Link is thinly traded in real volume and thats why it goes up so violently, if people just long it on mex instead because they dont care about owning link or understand it, they can go long without buying Link, which means no buying pressure for Link tokens.

See what i mean?

[Anonymous No.22281323]

>>22281286

Oh, I see. I assumed it was all in LINK. Shit that sucks.

[Anonymous No.22281337]

i had chest pain/tightness and it was hard to breathe, then i smoked a cigarette ( im non smoker ) and it magically disappeared, i feel fresh again, wtf

[Anonymous No.22281394]

>>22280003
Idk what it is, but many people are either incapable of or just choose to never think in future terms. They understand what things are, but never what they could be. This goes far beyond crypto too, and infects their thoughts with everything.

[Anonymous No.22281403]

>>22281286
I remember my first day
Listen bud, you don’t seem to understand
None of that shit matters
All of this is animal spirits and fairy dust
Bitmex leads the market

[Anonymous No.22281416]

when FTX started trading link futures it dumped :(

[Anonymous No.22281427]

>>22281337
okay>?

[Anonymous No.22281439]

>>22281286
I remember my first day
Listen bud, you don’t seem to understand
None of that shit matters
All of this is animal spirits and fairy dust
Bitmex leads the market

[Anonymous No.22281555]

On one hand, I feel more products that let you short LINK is a good thing, as every short order is a commitment to buy when it closes... On the other Mex is btc settled, so I don't know what this could mean really.

Degenerate gamblers will attempt to short LINK on every advance it makes, and a lot of high volumne traders are dogmatic about their cynical view that all coins except btc are shitcoins and exist just to be shorted.

Someone who is more knowledgeable about how markets work could probably comment better on if having more liquidity will help the price grow, or not. Ive always thought that with less liquidity, the price is forced up easier. I have no idea what this means for LINK but clearly LINK didn't need this scamming exchange to advance before. Unironically wish Mex would get shut down.

[Anonymous No.22281602]

>>22281555

Mex are forcing KYC on every person no matter what country now. They may he trying to clean up their act

[Anonymous No.22281645]

>>22280197
I understand why millions of them are killed in wars, sometimes even in wars against themselves

[Anonymous No.22281671]

>>22281602
They absolutely are, right after a period of unethical or downright illegal fleecing of their customers, now they're trying to legitimize themselves.

[Anonymous No.22281716]

>>22281602
Oh shit
Forgot about this
This isn’t as big of a deal then
Well fuck

>>22281671
Yeah but we all know no one wants to do that shit. BitMex has historically led the market because of lack of kyc. Everyone could go and gamble there with insane leverage.

[Anonymous No.22281743]

>>22281716
>>22281602
So... LINK goes up or down?

[Anonymous No.22281787]

>>22281095
would
already moist

[Anonymous No.22281843]

>>22280266
They stopped processing liquidations in order to save bitmex, which could have been a black swan event like mtGox. They later processed those liqs the following day, which is why if you were watching, btc long liquidations were triggering while the price was rising. Insane that they were able to offload them all.

[Anonymous No.22282060]

>>22281555
It's the other way around. Spot alone causes drastic price moves, futures move the incentives to move spot in the opposite direction. Think this way, you stand to benefit if your buy order liquidates a bunch of people and initiates a bart pump. This is why we generally use funding rate/premiums as an inverse indicator for price action.
Bitmex shorting it would mean someone buying LINK would have an extra incentive to buy, since liquidating shorts will pump their bags. Conversely, if everyone is longing LINK, it means there are counterparties that create an incentive for a whale to create a short and then dump, liquidate everyone, leave in profits and maybe even buy back. This is what you see with all the whales fully wearing the bitmex brand being shorters (see - j0e000)
The dynamic here is typically that big institutional buyers will want to buy futures to speculate on crypto so that they don't move the price, and they often intend to hold them indefinitely. Shorters on the other hand are typically whales who have capital to wait for a crash, make profit and then close, while having enough capital in the underlying asset to wait underwater in losses for that crash to happen or make it happen if it refuses to. Basically LINK getting listed on Bitmex will give LINK whales a chance to profit from a crash from boomer institutional investors and their algos, and institutional investors like Nexo would be able to buy without having to go through elaborate schemes with Zeus capital and Aave to avoid moving the price.

[Anonymous No.22282093]

>>22279909
Bitmex is a piece of shit which only allows 100x for Bitcoin. But then only allows 50x for ETH and barely 15x and 5x for the other coins.

Binance allows 125x for every coin and has infinitely more liquidity and less manipulation.

[Anonymous No.22282103]

>>22279909
Goddamned decentralization. I wish they would stop fucking with link

[Anonymous No.22282128]

>>22280928
But if it's just a derivative and people never any actual link exposure because it's settled in btc, will it?

[Anonymous No.22282150]

>>22279909
nice, i can't wait to short it to zero

[Anonymous No.22282157]

>>22280112
Just like literally everything that has ever happened in the world, this is good for link

[Anonymous No.22282177]

>>22282060

So in short will this neuter links price action or will it in the long term make no difference to 1000$ EOY?

[Anonymous No.22282187]

>>22279909
lmao this is just trying to make up for the lost capitalization from mandating KYC last month

[Anonymous No.22282202]

>>22282187
lol this

[Anonymous No.22282210]

How will this impact the price of STA?

[Anonymous No.22282232]

https://www.youtube.com/watch?v=XYDMmZqv9wI

[Anonymous No.22282246]

>>22282177
It will neuter speculation. Chainlink can still pump from network demand though. See - Ethereum got dumped into the ground, then DeFi happened.

[Anonymous No.22282272]

>>22282246
Was Ethereum on bitmex for the moon mission to 1400?

[Anonymous No.22282356]

>>22281000
So you can look directly into his eyea while he gets your money.

[Anonymous No.22282382]

>>22282272
Someone correct me but I believe it was? But sometime in 2018 bitmex became a dominant platform with almost highest volume from fat leveraged positions
>>22282232
Newfag

[Anonymous No.22282394]

>>22282103
This will make us moon harder and faster.

[Anonymous No.22282577]

>>22282246

I dont really believing you are correct. You are essentially saying Bitmex singlehandedly makes a bubble on an asset it trades impossible. It neuters speculation meaning any momentum is quickly abused for a profit the other direction.

Essentially you are syaing BTC has topped forever and will not go into a notier bubble again thanks to mex. same for eth.

I find that incredibly hard to believe we will never see a bubble on any of these assets due to mex.

[Anonymous No.22282789]

>>22282577
>BTC has topped forever
BTC has been crabbing for a very long time, same with ETH...

[Anonymous No.22282823]

>>22282577
Not saying that's the result it inevitably leads to - markets are always uncertain. That's just the incentive system it creates and nudges the market towards, but other things can come into play.

[Anonymous No.22282935]

>>22281337
Fuuuck I'm gonna go buy a pack and start smoking daily!