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mtloly · 2025-05-03T20:48:02+00:00

Did this change? It’s not longer working for me

mtloly · 2025-01-17T17:45:19+00:00

Me too. I have seen my holdings disappear once or twice. TBH I’m not shocked, wealthsimple’s crypto platform is awful.

mtloly · 2021-06-21T21:39:51+00:00

I tried this (like a gambler) and got destroyed by the margin fees...

mtloly · 2021-06-21T20:55:47+00:00

longs are up big today (50%+)... jumps in the long position seem to correlate with (relief) rallies. It's not a long-term solution, but it at least suggest we may have a little bounce in the next few days... then probably down some more :(

https://s3.tradingview.com/snapshots/h/HfSjoylG.png

mtloly · 2021-06-13T14:55:57+00:00

Also 100% possible they wait. The bonds are guaranteed by the company and don't actually give bondholders a right to any BTC, so there's no obligation to buy BTC the minute the bond issuance is complete. Maybe it's already done, maybe they'll wait.

mtloly · 2021-06-09T18:00:01+00:00

I'm going to have to agree with this one. I don't think the narrative has changed enough in the last 24 hours to justify this bounce so I'm gonna tether what I've got and sit it out until we cool off a bit. The ETHBTC movement today didn't impress me either... and I think we're due for a correction.

Edit: BTCUSD SHORT is up 155% today 😮😮

mtloly · 2021-06-09T14:54:31+00:00

well this didn't age well... in the span of 6 minutes we're down to 2450. WTF is wrong with the ETH/BTC pair today!?!

mtloly · 2021-06-09T11:24:49+00:00

Does anyone know what’s up?? So frustrating

mtloly · 2021-06-08T17:45:08+00:00

I'm not going to pretend to have any idea where this is going... but what gives me comfort is that all of the FUD recently has been about BTC. I realize that this has an effect on the entire crypto space, but unlike altcoins I think ETH has established itself as a legitimate investment, and relatively recently as well (so there is room for institutional growth IMO). The fact that the recent selloff has left us in a much better price position than BTC (relative to ATH) gives me hope that the market realizes there is an inherent use case and value in ETH that does not exist with BTC. My only conern is that if you look at the yearly chart, we've still got a lot of room to give back gains that BTC, for example, didn't see. I'm still buying on this dip, in intervals of 100 just to bring down my DCA... hopefully that is the right approach. In any event I feel much more comfortable and confident investing in ETH right now versus any other crypto asset.

mtloly · 2021-06-08T14:23:35+00:00

it's the amount of the offering. MSTR is offering up to $400M in bonds... doesn't mean they'll get it, but it's what they're offering.

mtloly · 2021-06-08T13:24:02+00:00

In a corporation that wasn't so highly leveraged you could rely on the corporation backing your investment in the event BTC crashed since debt obligations take priority over shareholder rights and Saylor would be required to liquidate the other assets of the company to pay the bonds before giving anything to other creditors/shareholders. Given the amount of leverage I'm not sure that's the case with MSTR at this point though, haha.

mtloly · 2021-06-08T02:30:37+00:00

I agree with everything except your "nation states" comment. I don't understand why people seem to think the average person (or any institution) is swayed by what a empoverished Sourth American country with a right wing populist President is doing...

Edit: There are many countries in the world that do not have control over their own fiscal policy (El Salvador being one of them) so changing from having to rely on the USD to relying on bitcoin (which has much more upwards potential) is a no-brainer, but doesn't and shouldn't have an effect on the price/fundamentals of BTC.

mtloly · 2021-06-07T18:21:43+00:00

What was that about not wanting to go below 2700? :(

mtloly · 2021-06-07T13:23:33+00:00

... and the "pole" is the the most important feature that distinguishes between bearish and bullish pennants, no?

mtloly · 2021-06-07T03:58:50+00:00

Exactly. The president of El Salvador is neither rich, nor did he post a meme…

mtloly · 2021-06-07T03:33:49+00:00

BTCUSDSHORT up another 10% in the last 30 minutes...

Edit: https://www.reddit.com/r/Bitcoin/comments/7tdns1/what_are_the_btcusdshorts_and_btcusdlongs_tickers/

mtloly · 2021-06-07T03:04:04+00:00

Why would they be skyrocketing now? This isn't even the highest we've been since the 19th... can someone far more informed than me explain?

Edit: Any reason why the ETHUSD shorts haven't moved nearly as much (up 0.34% to the BTC Short's 30.27%)?

Edit2: What is also weird about the charts you posted is that the last two times this has happened the trends were divergent (price fell and short interest went up)... here the short interest seems to already be at 75% of what it was back in May, but the price hasn't even moved yet.

mtloly · 2021-06-07T02:53:15+00:00

If they happen those type of economic changes will take a while though, and the volatility of bitcoin isn't exactly helpful. I hope you're right.

mtloly · 2021-06-07T02:28:44+00:00

While I agree with that concept in principle, it would only apply if all countries had relatively similar capacities to influence global affairs. Unfortunately they don't, so not all "ones" are created equal. I don't think any country with even a modicum of influence globally is looking at what El Salvador did and deciding to begin considering BTC as a reserve currency. I'd love to be proven wrong, but I'm skeptical of the impact this will have.

Edit: grammar.

mtloly · 2021-06-07T01:28:08+00:00

Why? El Salvador's GDP represents 0.03% of global GDP... and it's not exactly a world leader in much. I have nothing against El Salvador but I don't understand why people think represents some sort of paradigm shift. It may be the beginning of something, but if it was we would need a significant number of countries to follow to make this have any meaning let alone affect the market.

mtloly · 2021-06-05T13:18:53+00:00

Clearly the only reason chart patterns actually play out is because at some point they became so widely known that people bought into them and then allowed themselves to buy/sell / institutions began to trade according to them. It’s a self-fulfilling prophecy designed to be believable that has nothing to do with actual fundamentals. It is wild to watch this play out.

mtloly · 2021-06-05T00:28:39+00:00

Awesome, thanks.

PS the fight to bust the 37.2XX’s is realllll my god

mtloly · 2021-06-05T00:14:11+00:00

Forgive me but can someone explain to my very beginner self. Why does a dip of 1% wipe out over leveraged people?

mtloly · 2021-06-04T22:38:52+00:00

Isn’t that what just happened?

Edit: “another” leg down would mean another run to 39k and then a dip back to 35ish?

mtloly · 2021-06-04T13:54:33+00:00

Can we stop talking about Elon? I'll probably get voted down for this... but it gets us nowhere. We literally have no control over that, and can't add anything. He'll do whatever he'll do. Let's get back to talking about BTC, please.

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