The Crypto Thread

[Caliban]

ADA action on coinbase is mental, I just sold some at $1.73 while binance price is $1.35

[6ix]

@Caliban

ADA action on coinbase is mental, I just sold some at $1.73 while binance price is $1.35

[Caliban]

Funny timing…

[6ix]

@Caliban

Funny timing…

It still doesn’t make sense that that’s the reason for the huge arbitrage spread. That used to happen between binance and the small exchanges but… I don’t know, it was really weird.

Guess who bought that first dip.

[6ix]

@JohnnyTruant

@6ix.

I would love a primer for dummies on the info you are sharing, mostly so I can follow along. I am not going to go off half cocked and lose my nest egg based on anything you post, just want to rail.

What do you want to know?

[Caliban]

Did you get rid of it in time?

I wound up selling half my ADA stack at avg $1.63, which was great. Less great is a family member, who I told about the ADA listing, and subsequently warned about the chance of it dropping immediately, still went and bought at $1.54…

[6ix]

@JohnnyTruant

What are we looking at here? What do the different columns represent? Are you basically looking at the margins between different coins and trading them when one is high to low?

Oh shit, ok, the third column is nonsense; it’s the daily change, but in a market that is 24/7, having a price change for 24hr before the current time is useless and ridiculous. I just wasn’t really thinking about it when I screenshotted.

The first column is the market, and most of the cryptos there are paired with BTC, so the second column is the price in BTC. It goes to eight decimal places so the smallest denomination of BTC is 1/100,000,000, called a ‘satoshi’ or ‘sat’ for short.

[Caliban]

Oh right, this was not on a market but on an exchange like regular Coinbase. This exchange explicitly charges you 1% in buying and selling, but then the price you get is basically 2% off market price also. It’s criminal (and also not where you should try to trade, which was my main lesson).

[6ix]

@Caliban

Oh right, this was not on a market but on an exchange like regular Coinbase. This exchange explicitly charges you 1% in buying and selling, but then the price you get is basically 2% off market price also. It’s criminal (and also not where you should try to trade, which was my main lesson).

Ohhh…

Yeah, those are highway robbery.

[6ix]

@Caliban

Did you get rid of it in time?

I wound up selling half my ADA stack at avg $1.63, which was great. Less great is a family member, who I told about the ADA listing, and subsequently warned about the chance of it dropping immediately, still went and bought at $1.54…

Hell na and I’m holding you personally responsible lol.

Srsly though, I decided I’d buy a tiny bag if it dipped and play the coinbase bump, but the weird thing is that BTC shot up right before ADA crashed. The dip I bought seemed like it was the BTC ratio adjusting, but then it crashed after coinbase trading started like one minute after. The second weird thing was there not being a bump on binance.

But it’s fine, now I have some ADA again.

[6ix]

@JohnnyTruant

what’s this?

Lol more shit to ignore, those are the leverage multipliers they offer, though I’d highly recommend not trading with leverage.

[6ix]

[6ix]

@Caliban

I wound up selling half my ADA stack at avg $1.63, which was great.

Did you buy back yet or are you letting it drift a little more?

Part of me thinks there might be a smaller delayed coinbase bump so I wouldn’t wait too long but I think you can gain a few more points.

[Caliban]

Ah, what a coincidence, so you got in just before the listing? Fortunate it was only a tiny bag then. I saw a post by a redditor who made a nice gain on CB, but then on Kraken their stoploss got triggered because it dropped violently everywhere. Whoops.

I haven’t bought back yet, may just buy back half now and leave the rest for tomorrow.

[6ix]

@Caliban

Ah, what a coincidence, so you got in just before the listing?

Yeah, this post earlier showed my trade from I played the coinbase listing runup and then sold when I was leaning towards it already being priced in,

@6ix

I assumed that was already priced in. Another oof coming my way?

but you reminded me that there’d probably be another post listing bump before a slump. And I do think you were right, but something really weird happened. I mean, coinbase just listed a couple things a few days ago, we can go look at the graphs from the different exchanges and see that they didn’t diverge like that, and also pumped

But yeah, lol, bought at 2183 sats, sold at 2415, bought back at 2386, and now we’re at… 2196 lol. I’m more perplexed than anything else.

[Ikioi]

I’m just HODLing the big bag I picked up for a song a couple years ago praying it will become the next ETH.

[6ix]

The “problem” I’ve had with ADA is that imo the price has been baked in for awhile, we’re talking years, but it’s looking like I’m wrong. It’s what I was touching on earlier, like, if somebody asked me if they should invest in ADA at any point during this bull cycle I’d say no. Then they’d ask me if I thought it was a shitcoin and I’d say no as well, it’s a great project, but partly because it’s a great project means the smart money has been accumulating for years and a moon pump seems unlikely.

[Caliban]

This makes sense. I bought back 50% yesterday, but now have fiat left that I’d rather put into a moonshot on CBP or Binance. You are the expert here, any suggestions? No fin. advice and all that obviously.

[wirelessgrinder]

I’ve got a question, i have 30 dollars i want to transfer, my wallet says recommended fee is 8 dollars which seems absurd, if I put it as low as i can at like 2 dollars, whats the timeline?

[MysteryConman]

Conman-coin. It’s pre-ICO. It’s different than most crypto’s in that the business model is based on the expectation that more people will pay more to buy in later. Once I find 5 more people who want to invest $1k each, your return will be 500% on paper, at that ROI, you’ll want to HODL, because if those 5 people can find 5 more people each Conman-coin is going to the moon.