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54034604 No.54034604 [Reply] [Original]

talk me out of buying a shitload of USDC right now.
$3.3 billion of $40 billion total cap, Circle make $2 billion a year in interest, and the SVB assets (the $3.3B) are backed by treasuries anyway, so most of it will be recovered.
This is just free money in a bear panic, right? I can't see it any other way.

>> No.54034617

>>54034604
Do it pussy. No balls no babies. No risk of pain, no chance of gain.

>> No.54034630
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54034630

>>54034604
Do it

>> No.54034633

I am, do it. Circle will be made whole.

>> No.54034695
File: 49 KB, 480x459, screen-shot-2012-09-19-at-103822.jpg [View same] [iqdb] [saucenao] [google]
54034695

Before you make a trade, always remember:
Nothing ever happens

>> No.54034699

>>54034604
This sounds like a cope thread. Do you understand how hard it is for the algorithm to repeg? No? Shut the fuck up then.

>> No.54034743

>>54034699
Are you an algorithmic expert? Can you explain it to us in more detail?

>> No.54034760

>>54034604
its only 10% gains at best at worse its another luna.

>> No.54034786

>>54034604
Yep, already maxed out my credit to buy 130k usdc. Easy money

>> No.54034792

>>54034760
If you think USDC is even in the same ballpark as UST you need to leave this thread.

>> No.54034823

>>54034604
its a pretty good trade idea
>10% of Circle USDC reserves locked in SIVB short term, most likely as receivership certificates.
>a bail-in: debt for equity swap ( depositors funds recapitalize the bank in return for secured debt )
>USDC down 10% trading at .90
you're betting against further contagion risk in crypto. if theres a targeted rescue and depositors have access to all of their funds in the short term, everything will be fine

>> No.54034827

>>54034792
he's saying the downside outweighs the upside

>> No.54034832

>>54034792
Do it OP you'll make good money. Every sperg on here called me retarded when I bought the FTX crash but I had the last laugh. Its the same fucking story here. If this was remotely a real issue USDC would already be at 0.

>> No.54034842

>>54034699
>Do you understand how hard it is for the algorithm to repeg?
What algorithm? Are you retarded? It's backed 1:1, it's not LUNA shit.

>> No.54034871

>>54034604
The SEC thought Circle was too risky to go public.
The SEC bro.

It's well known information. Far Peak Acquisition Corp. De-Spac 2022 transaction

>> No.54034899

>>54034871
kek had another public de-SPAC crypto company in mind.
It's Concord Acquition Corp.

>> No.54034920

>>54034699
Tether has repegged like 7 times

>> No.54034921

>>54034832
USDC is almost certainly going back to $1 but the terra collapse took several days

>> No.54034934

>>54034604
yea but what if this ends up being bank run situation and it goes to 0 lol i was considering leverage longing as well but judging from stock market performance this week + the svb thing it seems like an extremely risky move

>> No.54034949

>>54034921
So take advantage of the weekend fear as retards think the worst isn't already over and buy up as much USDC as you can. By Monday it'll all be resolved.

>> No.54034954

I bought and it's already up a lot it's going fast. Will be repegged by tomorrow morning

>> No.54034997

>>54034604
I have no strong opinions one way or another.
I think you should do what you want, OP.

>> No.54035001

>>54034920
I can prove that 1 USDC = $1 USD is false.

Can you prove that this is false?
1 USDT = $1 USD

>> No.54035012

by monday either you made 20% gain or 100% loss at the mercy of some kikes
would you take that chance? be my guess

>> No.54035027

>>54035012
How the fuck would you make a 100% loss? Even if Circle couldn't recoup even a penny of the $3.3B (which makes no sense) then how would it go to zero?

>> No.54035056

>>54035027
you think if SVB dont get bailed out only 3.3B of circle is gone? the contagion will be unreal

>> No.54035066

>>54034604
Its free money, too many big fish are exposed to USDC to let it fail u got people like Goldman Sachs and Blackrock

>> No.54035091

>>54035027
Do you have any idea how a bank run mechanically works ? At a base level, what is happening that causes a bank run?

>> No.54035106

>>54035091
You're expecting a $40B run on Circle's $37B backed reserves?

>> No.54035132

>>54035027
Total exit like Luna you fucking retard.

>> No.54035139

>>54035091
>bank run
>contagion
Kek now retards are dropping the same buzzwords they did with FTX. Ultimate buy signal.

>> No.54035140

>>54034699
>Do you understand how hard it is for the algorithm to repeg?
>algorithm to repeg
>repeg
lol fucking retard usdc is not an algorithmic stablecoin. I'll repeg your ass if you know what I mean. I swear all these stupid ass fags pretending to know shit on the internet really rustles my jimmies. Do the world a favor and kill yourself bitch.

>> No.54035144

>>54035106
Nope. Check again how much is banked

>> No.54035156

People comparing USDC to UST is bearish euphoria.

>> No.54035166

>>54035132
>a stablecoin backed by US treasuries is the same as a stablecoin backed by a shitcoin printed by the company that runs the stablecoin
thanks for your input, bro, best of luck in your crypto journey

>> No.54035176

>>54034604
Do it OP. Everyone's going to FOMO in soon and depeg it past $1 to $1000 making you rich.

Act quick.