I am very much interested into being able to short crypto (not at the moment of course ). How can I be confident, I will be able to collect with you if I happen to be right???? For example, if I buy a put at Interactive Brokers, I know that close to 100% I will collect.
Very interesting. And you know all this for a fact, i.e., tether being 70% of daily crypto volume? And not just bidding the market higher, but supporting it? With the latter I mean - would crypto collapse without this support like you suggest? Or would it simply become less manipulated (higher)? I need to study up on this. Thanks for those links. PS: What do the pro-crypto guys have to say about this?
Hi @RedDuke, We have a 100% order execution track record for market and pending orders. We say to allow 24 hours for a withdrawal, but we are actually much quicker than this, usually 1-2 hours. There are no expiry dates on positions, they can be left open for as long as you like. We hope this answers your question...
Yep, daily volume can be looked up, and USDT (tethers) are the bulk of it. They say it is a FUD. My assumptions, if tethers are exposed and banned and other stable coins are properly audited, this will collapse the market. Just look at yield farming, you getting interest that beats Jim Simon's RenTech performance by just staking your crypto in liquidity pool Life is amazing in crypto land.
Do you publish where you hold customer funds, and how they are segregated? My issue when shit hits the fan, will those who shorted be able to collect.
Thanks for clarifying @RedDuke. We only accept deposits in cryptocurrencies, and they are primarily held in cold storage, with a small % held online to process client withdrawals quickly. Client funds are not mixed with company own funds. Although we are not supervised by a regulatory body, we still operate using the same guidelines and maintain the same capital adequacy that we would be required to if we were. This ensures that if we pursue regulation, the company is well established to do so.
The 5 options are worth almost $100K if I sell now Fuck it, I'm going back to sleep. Let it ride! I wanna sell when the 5 options are worth a lot more [Pride goeth before the fall - It's a bull market, I'm no genius]
Eh, RedDuke may be right a little bit. But is RedDuke an expert? Or is he repeating someone else's news? Yeah, tethers may be printed out of thin air, but is that the only way to buy or sell Bitcoin? There are 5 other stable coins including the US dollar that make up the market, but he seems to think tether can bring down the whole crypto market. We just had a flash crash and Bitcoin went to 8000, how come that didn't crash the market? RedDuke also has crypto holdings, why isn't he following his own beliefs? See when people tell you these things, just know that nobody knows what is going on in the crypto markets. All we know is the news, and our gut instincts that tell us there is a better way to manage our money besides control from higher powers. You do your own research and if you don't agree with Blockchain technology, then just stay out of it
I don't know, but that's a separate issue. If tether is indeed being printed out of thin air it goes without saying that this could artificially inflate the market. But I don't know enough about this issue to say anything meaningful about it. I'm actually listening through a podcast where this exact issue was brought up as a potential risk by a guy who is pro-crypto. You do seem a bit uncritical. I'm planning to invest in cryptocurrencies shortly. Better late than never. But that doesn't mean I need to accept everything about this market at face value, nor ignore the potential risks in this system.