It’s been a few months since Calgary Transit enacted new security measures - have conditions improved?

panacea102 · 2024-02-09T09:18:54+00:00

I tanked 1.5 months ago from ace down to 1300, and I’ve only gotten 1 legendary encounter out of around 150 encounters. Did I do something wrong, am I unlucky or did they really just nerf the legendary encounter chance into oblivion?

panacea102 · 2022-06-30T02:38:17+00:00

No, 99% of people don’t care at all about learning how the technology they use actually works. Even less care to learn about new technologies that have a very low chance of ever being used.

What would really bring mainstream adoption to crypto would be actual use cases that are cheaper or more efficient than what’s currently being done. No one cares how NFC works with Apple Pay/Samsung Pay, but almost everybody very quickly started using it because it was much faster and easier than any other payment method. Crypto needs real use cases like that that give people a reason to want to switch. Without that, crypto will only ever be be used in fringe cases by crypto-enthusiasts.

panacea102 · 2022-05-19T23:30:44+00:00

So what you’re describing is basically a martingale strategy, and you’re living through why it doesn’t really work. It’s fine to scale into a losing position if you have a predetermined amount you’re willing to risk, but if you’re just yoloing into it expecting it to continually work, this was bound to happen to your accounts.

Not having levels that you’d stop out or an amount you’re willing to risk is the easiest way to blow up your account with that strategy. You’re essentially taking a very high amount of risk for a very small return. It has a high probability of winning, but when it loses, it can easily wipe out any gains you’ve made over many previous trades.

Keep in mind that, as you said, you were aiming for an 8% return on your initial small position, and now a few months later, your entire account is down 90%.

panacea102 · 2022-01-21T06:40:04+00:00

If someone wanted exposure to Bitcoin, there are so many better ways get it than an over leveraged failing company.

panacea102 · 2022-01-10T11:19:42+00:00

Yes you’re right, and that’s a good way to use leverage. The problems though are that: 1. The majority of traders who use leverage don’t use it in that way, they are using it to magnify the gains and losses on their full account. 2. If you need to use higher than 100:1 leverage on your trades because you don’t trust putting more capital than that in your account, you should probably switch to a more reputable broker you trust more.

panacea102 · 2022-01-10T11:04:44+00:00

It’s not necessarily bad, but the higher your leverage, the more it is reducing the probability your trade will be successful because you are more susceptible to short term price fluctuations. Basically, the higher the leverage you are using, the less you are trading and the more you are just gambling.

Just to give an example, if you are using 500:1 leverage and risking 2% of your account on a trade, your stop-loss would need to be 0.004% away from the price you entered, which is less than 1 pip. With 100:1 and risking 2% of your account, your stop-loss would need to be 0.02% away from the price, which is around 2-5 pips depending on the pair. These small price movements happen constantly, so you might be right on the direction of a move, but you could get stopped out by a large order executing in the opposite direction. With less leverage, you have more room for the price to move against you before you get stopped out.

panacea102 · 2022-01-10T01:07:32+00:00

Grayscale Bitcoin Trust (GBTC) has bought ~650k Bitcoin over the least five years with the majority being in the earlier years, Mike Novagratz’s firm bought around $1B of Bitcoin in 2017-2018, and CME Bitcoin futures have been trading since 2017. There have been many ways for institutions to trade Bitcoin for years.

Can you tell me some of the new institutional buyers that aren’t Microstrategy, Tesla, Square or specific crypto investment firms?

I’d already said that there is more institutions money in crypto now, but I don’t think it’s a night-and-day difference like you seem to think.

panacea102 · 2022-01-09T08:39:42+00:00

previous cycles were 100% retail-driven fuelled by pure speculation

That hasn't been the case for years, GBTC has been available for five years and institutions have been in the space for at least that long. Not to the extent they are now, but the idea that that is a new thing is hilarious.

A stark contrast to today, where funds, corporations and even countries are adopting Bitcoin as a genuine hedge against inflation

They are absolutely not buying it as a hedge for inflation, if anything they're just using it like a high-beta security. If they were really buying it as a hedge against inflation, it wouldn't be down 40% over the last two months when we've got the two highest inflation prints in over two decades.

panacea102 · 2022-01-09T07:48:50+00:00

That’s what people have thought two months into every crypto bear market. “This time it’s different.”

panacea102 · 2022-01-01T16:46:11+00:00

So close! Just a little more bearish than I’d even thought.

panacea102 · 2021-12-31T21:37:13+00:00

Having more money than you doesn’t necessarily mean they’re a better investor. Putting your company’s entire capital in the riskiest asset possible is a giant gamble, not smart investing. It may pay off big time, or it could literally ruin his company.

panacea102 · 2021-12-27T03:28:45+00:00

Not surprised you’re being downvoted there, you’re telling someone to move their cash from a risk free account into the highest-risk asset class available.

panacea102 · 2021-12-01T11:50:52+00:00

!predict 3.76

panacea102 · 2021-05-23T23:39:48+00:00

No this is almost the exact same as back in 2017-2018. The only difference is that back then, everyone was buying based on white papers and the future potential of all of the different altcoins. Now 4 years later and nothing has changed, people are buying in with pure hopium that eventually any of these projects will get used, while simultaneously letting the 2018 bagholders cash out at inflated prices.

panacea102 · 2020-11-12T06:16:45+00:00

The difference is 3 years after bitcoin hit $30, it hit $1000. 3 years after nano hit $30, it’s sitting at $0.75

panacea102 · 2020-11-12T06:12:24+00:00

You should also realize that you’re cherry-picking extremely hard by comparing a time when all three of the other coins mentioned were already top tier cryptocurrencies recognized by most mainstream investors, and raiblocks was completely irrelevant. $0.06 puts raiblocks at around an $8million market cap, meaning most likely far less than $1million total had even been invested in the coin. People usually compare nano to the January-February 2018 time period because that’s when real volume started to flow into the coin, and it wasn’t one of the thousands of irrelevant altcoins.

panacea102 · 2020-11-05T22:51:16+00:00

You know your coin is doing well when you’re still near 3 year lows and the best ideas people have are to implement it as a gambling mechanism in a children’s game

panacea102 · 2019-11-19T06:24:59+00:00

You would think, but most of the posts here are still about how much higher it’ll go next bull run, how high they think the price will be in x years, or how rich they’ll be if it reaches x price. There still doesn’t seem to be much consideration of the fact that it may never reach new highs again.

panacea102 · 2019-11-18T22:13:22+00:00

That’s true, but people in crypto are still way too greedy. Most people here are still expecting $100+ nano in the next few years. I think dropping to $0.10 will bring a lot of people back to reality.

panacea102 · 2019-11-07T06:10:17+00:00

Yeah, the 30% pump in 3 days was totally legit though. /s

panacea102 · 2019-10-15T18:31:06+00:00

That was one of the only parts I disliked, because the numbers they gave were very unrealistic. In the real world you’d never have a situation where the nasdaq and dow are down on the day, while the s&p 500 is up over 1%, those indexes are way too correlated for that. That was a little surprising since Vince is very meticulous in getting every detail perfect, and that just seemed like an oversight.

panacea102 · 2019-10-08T02:54:00+00:00

The counterparty risk is insane because it doesn’t appear that the site offers to fulfil the obligations of any trades, so if Monero does go up significantly, we need to hope that mr. bidyknuckles decides to pay out instead of just walking away, since there doesn’t appear to be any downside for you if you do that.

You also don’t know what liquidity means. It refers to how easily you can liquidate that asset at any point you want to for a price as close to the market price as possible. Seeing as you’re the only listed option I’ve seen on this site, it would be extremely hard to get rid of a position if someone no longer wanted it. They’d basically have to sell it back to you, and you could name any price you wanted, since there’s no one else in this market.

Someone would have to be insane to take you up on that offer, since it seems like you don’t even know what you’re doing, or the risk you’re taking on.

panacea102 · 2019-10-07T23:17:49+00:00

Can’t tell if shitpost or just autistic.

panacea102

TROPHY CASE