Posted on 10/21/2021 12:24:25 PM PDT by DUMBGRUNT
BTC/USD “crashes” 87% on Binance’s U.S. platform, drawing irritation from traders who criticized order book depth.
The scope of the Binance.US error, however, was in a league of its own and did not go unnoticed by market participants.
“Good thing Americans are forced on to these dogshit exchanges where they can get completely scammed on unreasonably thin books. This type of shit just shouldn’t be happening. It’s not fair that some get stopped out and some stay in, some get fills and some don’t.”
“Expect very high volatility in crypto over the next few months,” he tweeted on Oct. 21.
(Excerpt) Read more at cointelegraph.com ...
99% of the time this is caused by some newbie trader selling a big position at the market and they just crash through all the bids when liquidity is low. Trader with more money (bitcoins) than trading experience.
It’s worth a quarter million to me.
Never too late
Oops
Not true. Only down 5% on Dow.
That makes sense, because nothing makes sense anymore...
It is a way to move money internationally that can not be traced.
“Bitcoin crashed and burned 87% ?! Good riddance I say.”
I think it was 61,000 yesterday. My kid was telling me to sell my stock and buy it because it will hit 100,000 by end of year. I told him to lay off the pipe.
—”and they just crash through all the bids when liquidity is low. “
Guessing this market lacks any circuit breakers?
This must present some unprecedented buying opportunities?
I well remember 1987.
Buckle up tight and hang on for an interesting ride.
—”Oops”
Pretty much as I see it unless this market is completely rigged.
A lot of guys driving expensive cars will be rolling in junkers in a week.
You can catch these once in a while with very thinly traded penny stocks.
—”It is a way to move money internationally that can not be traced.”
You can believe that if you like, but not true.
The blockchain is a public ledger and can be traced.
Your crypto wallet address is visible, your connection to your wallet should not be.
Ask the Silk Road guy about it, he has nothing to do right now.
—”A lot of guys driving expensive cars will be rolling in junkers in a week.”
The sharp guys leased them.
—” catch these once in a while with very thinly traded penny stocks.”
Not even when I was young and crazy.
Now it is mostly ETFs, bonds, and some stock.
We keep a separate account just for “flyers”.
Just wait until Joe and Janet start going into your savings account and just taking that cash off your hands “for the good of the country, comrade.” Cypress 2013 all over again at 100x scale. Talk about a bank run. It’s coming.
Which is why I avoid it.
But your kid could be right. The value in crypto is not in the trade….the value is that it is an alternate currency. And when the USD 💩s the bed and Fed Gov starts shopping in your bank account for cash reserves, there will be a run for the exits that will make 1929 look like that little rollercoaster ride at the beach.
—”Joe and Janet start going into your savings account and just taking that cash off your hands”
Unfortunately, I think we are headed in that direction.
The problem is how to avoid even a small part of the BS.
My income was salary, dividends some real estate...
Every cent is long ago recorded.
We give the yearly max to our children and grandchildren, even son and daughter in law.
BTC is not the answer.
Your not referring to the U.S. dollar...are you?
:)
Not yet anyway...
U.S. Treasury amends proposal to track nearly all bank accounts
"Crypto" early on, started out generally as something people thought only criminals used. Now, with the direction the fed gov is moving...it may become something freedom loving patriots use.
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