That's why around 2005, you had so many forex trading websites popping up. They would offer up to 500x leverage.
On the importance of leverage for the crypto ecosystem.
A long time ago, BNP Paribas bought a retail forex exchange, because they thought they'd get an insight into forex trading flows and positions. What they quickly discovered, is that the website was a muppet slaughterhouse.
That's why around 2005, you had so many forex trading websites popping up. They would offer up to 500x leverage.
This became such a huge trend that regulators stepped in, and introduced maximum leverage rules. Something like x30 for forex, if I remember correctly. All of a sudden, all the ads and Premier League sponsorships vanished.
It's hard to explain how one-sided leveraged crypto trading is. Traders don't stand a chance. With currencies, you could expect to extract SOME money from real world flows. In crypto, there are no real world flows. It's just traders against traders against insiders.
That's why offshore, unregulated exchanges sprung up so fast.
More from Crypto
🚨Altcoin Trading Indicator🚨
How to use it. A THREAD.
Please Share.
To use it to buy Altcoins and make a high probability entry, the following conditions needs to be fulfilled.
For a long.
1. A green candle Closes above the cross.
2. Heikin Ashi candle turns green.
3. Price should be above 0.236 Fib from the swing high.
How to add the Indicator.
1. Click on the link and Add it to favorites and apply.
https://t.co/Kn90qgDjMi
2. Or Search it in the tab and then apply it.
The indicator itself the most comprehensive Moving Average Indicator which provides 9 MAs and 13 Different times of MAs.
The base of the indicator was by @insiliconot.
To further enhance it, I have added a cross indicator on the cross which works the best historically on Alts.
Condition 1- The cross.
Entry is made when a Cross occurs on the EMA 13/21.
The indicator automatically indicators the Cross with P for a positive cross or N for a negative cross.
This is the first condition for an Entry.
How to use it. A THREAD.
Please Share.
To use it to buy Altcoins and make a high probability entry, the following conditions needs to be fulfilled.
For a long.
1. A green candle Closes above the cross.
2. Heikin Ashi candle turns green.
3. Price should be above 0.236 Fib from the swing high.
How to add the Indicator.
1. Click on the link and Add it to favorites and apply.
https://t.co/Kn90qgDjMi
2. Or Search it in the tab and then apply it.
The indicator itself the most comprehensive Moving Average Indicator which provides 9 MAs and 13 Different times of MAs.
The base of the indicator was by @insiliconot.
To further enhance it, I have added a cross indicator on the cross which works the best historically on Alts.
Condition 1- The cross.
Entry is made when a Cross occurs on the EMA 13/21.
The indicator automatically indicators the Cross with P for a positive cross or N for a negative cross.
This is the first condition for an Entry.
I'm sure someone else has explained this, but it is just so cool and I want to explain how this works.
So Curve is awesome for swaps between similar assets, right? The fact that they trade very close to each other is a key part about how Curve works, using it's custom swap invariant function.
That's step 1
Step 2 is that Synthetix is awesome for creating "synthetic assets" (aka synths) which are assets that trade like other assets, that are backed by another, entirely different asset. Basically, a plastic banana that I can buy and sell like a real banana.
Synthetix has a feature that lets you swap between any two synths with zero slippage and a flat fee. That's because it is simply converting the sythentic asset into another synthetic asset, the backing for the synth doesn't change it just uses a different price oracle now.
This is important. Absolutely no slippage, at any size
Swap $1m sUSD for $1m sBTC? flat 0.3% fee
Swap $10m sUSD for $10m sBTC? flat 0.3% fee
swap $100m sUSD for $100m sBTC? Well, there isn't that many synths in Curve, yet but you get the point. The only limit is the pool depth
— Andre Cronje (@AndreCronjeTech) January 15, 2021
So Curve is awesome for swaps between similar assets, right? The fact that they trade very close to each other is a key part about how Curve works, using it's custom swap invariant function.
That's step 1
Step 2 is that Synthetix is awesome for creating "synthetic assets" (aka synths) which are assets that trade like other assets, that are backed by another, entirely different asset. Basically, a plastic banana that I can buy and sell like a real banana.
Synthetix has a feature that lets you swap between any two synths with zero slippage and a flat fee. That's because it is simply converting the sythentic asset into another synthetic asset, the backing for the synth doesn't change it just uses a different price oracle now.
This is important. Absolutely no slippage, at any size
Swap $1m sUSD for $1m sBTC? flat 0.3% fee
Swap $10m sUSD for $10m sBTC? flat 0.3% fee
swap $100m sUSD for $100m sBTC? Well, there isn't that many synths in Curve, yet but you get the point. The only limit is the pool depth
Out of curiosity I dug into how NFT's actually reference the media you're "buying" and my eyebrows are now orbiting the moon
Short version:
The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.
Oh, and that URL is not the media. That URL is a JSON metadata file
Here's an example. This artwork is by Beeple and sold via Nifty:
https://t.co/TlJKH8kAew
The NFT token is for this JSON file hosted directly on Nifty's servers:
https://t.co/GQUaCnObvX
THAT file refers to the actual media you just "bought". Which in this case is hosted via a @cloudinary CDN, served by Nifty's servers again.
So if Nifty goes bust, your token is now worthless. It refers to nothing. This can't be changed.
"But you said some use IPFS!"
Let's look at the $65m Beeple, sold by Christies. Fancy.
https://t.co/1G9nCAdetk
That NFT token refers directly to an IPFS hash (https://t.co/QUdtdgtssH). We can take that IPFS hash and fetch the JSON metadata using a public gateway:
https://t.co/CoML7psBhF
Short version:
The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.
Oh, and that URL is not the media. That URL is a JSON metadata file
Here's an example. This artwork is by Beeple and sold via Nifty:
https://t.co/TlJKH8kAew
The NFT token is for this JSON file hosted directly on Nifty's servers:
https://t.co/GQUaCnObvX
THAT file refers to the actual media you just "bought". Which in this case is hosted via a @cloudinary CDN, served by Nifty's servers again.
So if Nifty goes bust, your token is now worthless. It refers to nothing. This can't be changed.
"But you said some use IPFS!"
Let's look at the $65m Beeple, sold by Christies. Fancy.
https://t.co/1G9nCAdetk
That NFT token refers directly to an IPFS hash (https://t.co/QUdtdgtssH). We can take that IPFS hash and fetch the JSON metadata using a public gateway:
https://t.co/CoML7psBhF
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Time for a stiff drink and some truth you probably dont want to hear.
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THREAD: 10 significant lies you're told about the world.
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On startups, writing, and your career:
