USDC

[Anonymous No.54035567]

Higher lows
Lower highs
fuck lads...what to do?

[Anonymous No.54035588]

Sit back, relax and enjoy the show

We all know that sooner or later some centralized shit companies fail to deliver

> t. all in bitcoin since 2012

[Anonymous No.54035591]

[Anonymous No.54035596]

>>54035567
>TA on a stablecoin

[Anonymous No.54035602]

>>54035588
I've got $25k in USDC right now =/

[Anonymous No.54035608]

>>54035596
Not stable anymore anon

[Anonymous No.54035616]

>>54035602
>I've got $25k in USDC right now =/

$22500 you mean

[Anonymous No.54035617]

>>54035567
I just jumped out into ETH,
good luck HODL's.

[Anonymous No.54035624]

>>54035567
buy

[Anonymous No.54035626]

>>54035602

So you care about some minor wealth short term. Let me remind you that generation wealth is build long term.

I hope this will be a (hard) lesson for you

[Anonymous No.54035627]

>>54035596
USDC will moon soon, low market cap, etc... we pooomp!

[Anonymous No.54035633]

This is the final shakeout.

[Anonymous No.54035636]

>>54035567
>OP desperately shills his bags in order to save them for the nth time today
Nigger, this is playing out the same way UST did. No, your technical analysis won't convince enough retards to save the algorithm. Take the haircut or get an entire shave.

[Anonymous No.54035637]

>>54035616
fugg

[Anonymous No.54035638]

>>54035591
hahahahahaahahah NOW WE HAVE MEME LINES ON A STABLE COIN hahahahhahahaa The coping HAHAHAHAHAHAHAHAAH omg , its going to 1.5 if it brokes the resistance line HAHAHAHAHAHAHAAHHAHAHAAH

[Anonymous No.54035693]

>>54035596
in trial they will be able to show that they tried to push the elephant up the stairs 3 times and that will reduce their sentence.

[Anonymous No.54035713]

>>54035617
I would do that, but I think all the coins will crash after people stop dumping from USDC into them.
Probably Tethering up is the safest bet.

>>54035624
Uhh fuck no. Not risking that for a measly 10% gain.

>>54035626
Wtf do you even mean by that?
That USDC was set aside for buying BTC at the bottom. I am trying to play the long game.

>>54035633
Not yet.

>>54035636
>OP desperately shills his bags in order to save them for the nth time today
Doesn't make sense. And I only just figured out about this 20min ago.
>Nigger, this is playing out the same way UST did. No, your technical analysis won't convince enough retards to save the algorithm. Take the haircut or get an entire shave.
Take the haircut meaning what?
The best bet seems to either wait, or tether up. Other coins are gonna crash soon after this....which I was already expecting...but I wasn't expecting USDC to depeg. It seemed like a safer stable than USDT considering the institutions that are invested in it.

[Anonymous No.54035741]

>>54035638
That's exactly what I'm suggesting.
Smart anon.

[Anonymous No.54035748]

>>54035591
I can't stop laughing at this fuckin image. HAHAH oh man. HAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAH

[Anonymous No.54035800]

>>54035713
>but I wasn't expecting USDC to depeg.

it has to depeg. the real dollar assets are no longer there to fully back it.

[Anonymous No.54035803]

>>54035596
that's how you know we're fucked

[Anonymous No.54035808]

I swapped to USDT at 96c
I lost $2k, but at least I'll be able to sleep.

>>54035748
Well let's see how it plays out? It's clearly forming a descending triangle. What happens when it breaks one of those lines?
I mean...do you think it's going back to $1, or it's crashing to nothing?

[Anonymous No.54035819]

>>54035713
>It seemed like a safer stable than USDT considering the institutions that are invested in it.

it doesnt sound like you know what you're doing. its about dollars backing the coin and they are now insufficient.

[Anonymous No.54035831]

>>54035808
If they haven't touched the peg by now its over.
On Monday everybody will sell.

[Anonymous No.54035833]

>>54035800
>no longer
Explain pls.
Is there anything safely pegged to USD at this point?

>>54035803
Bro...I'm just trying to come up with something. I'm sure I just made a kneejerk reaction that I'm going to regret...but fuck it.
It's only $2k and not $25k

[Anonymous No.54035863]

>>54035819
How did you come to find that out tho?
I thought banks and blackrock and shit were backing the stability of USDC?

>>54035831
I hope that's not the case. One of my buddies has 100s of k USDC

[Anonymous No.54035873]

>>54035833
>Explain pls.
>Is there anything safely pegged to USD at this point?

There are now too many USDC coins for the amount of real dollars that exist to back it due to losses sustained by the parent company Circle.

[Anonymous No.54035888]

>>54035863
>How did you come to find that out tho?
>I thought banks and blackrock and shit were backing the stability of USDC?

the coin is backed by dollars owned by Circle and billions of those dollars are now gone

[Anonymous No.54035919]

>>54035873
>>54035888
What happened to Circle?
Sorry. I'm out of the loop.
Can they recover?
>>54035888
Also, nice trips

[Anonymous No.54035925]

>>54035567
Lower highs are normal here
Considering this is a backed stable coin its only normal the value would recenter around 96 the new backing value for the time being

I also love all the retards comparing this to luna and mentioning the algorithm
Do some basic reading on the things you comment about for your own sake

[Anonymous No.54035950]

>>54035919
>What happened to Circle?
>Sorry. I'm out of the loop.
>Can they recover?

they had dollars in accounts with failed banks Silvergate and Silicon Valley Bank.

The banks failed because their assets became worth much less due to interest rate rises.

Its unlikely Circle will get back the full amount of its deposits because there will not be enough assets to sell for that.

[Anonymous No.54035956]

>>54035831
Circle literally can't get the money because banks are closed over the weekend.

[Anonymous No.54035965]

>>54035925
>Considering this is a backed stable coin

not any more

[Anonymous No.54035976]

>>54035956
>Circle literally can't get the money because banks are closed over the weekend.

the banks are bankrupt and in receivership. their assets wont cover Circle's full deposits.

[Anonymous No.54036001]

>>54035950
Oh shit. I had been somewhat following the SVB and Silvergate shit...I didn't realize the ties to Circle. Thanks for the info, anon.
Is USDT safe right now?

[Anonymous No.54036028]

>>54035976
Only SVB is there yet, but Circle holds its USDC reserves in multiple banks. The $3.3B is less than 10% of USDC's total backing, and much of that is ultimately going to be available. I'd expect more volatility over the weekend until a repeg on Monday once more is known about Circle's dollar liquidity.

[Anonymous No.54036037]

>>54036001
>Is USDT safe right now?

i think all of crypto will collapse but it might be safeish for the moment.

if the stablecoins go thats the end of all crypto isnt it.

[Anonymous No.54036047]

>>54036028
>Only SVB is there yet, but Circle holds its USDC reserves in multiple banks

yes, like Silvergate.

[Anonymous No.54036061]

>>54036037
Time to pull a schizo short move?
But those platforms probably won't be safe either.
I use PrimeXBT

[Anonymous No.54036144]

Literally ogre.

[Anonymous No.54036187]

>>54036001
It's something like 3 or 4 billion out of their 40 billion in holdings they had in there.

[Anonymous No.54036195]

>>54036187
So how is it affecting things this badly?
That seems like a drop in the bucket.

[Anonymous No.54036211]

>>54036195
I dunno, guess it's a break in confidence. People are selling because they know people are selling and don't want to be the ones left holding the bag.
No idea if it's just a stupid short term panic of if things a properly fucked.

[Anonymous No.54036214]

>>54035567
Stablecoins are a mistake

[Anonymous No.54036397]

>>54035617
Congrats. My take is basically for you to send it to a safe wallet.
Metamask, ZenGo, sylo wallet, atomic are a few good ones you can use. remember the old saying, not your keys.........
>>54036214
Hmmmm.... but not in all cases

[Anonymous No.54037156]

>>54035602
literally why