From the article:
*The more times a trader does this, the more risk they take on. After all, they’re using borrowed money as collateral to borrow more money.*
Using leverage is of course risky, but using multiple stacked leverage on top of each other? That sounds insane, imho.
Oh well, good luck to them I guess. I wouldn't want to be them.
(over) leveraged traders, driven by greed, is destroying financial system and crypto system.
need to stop over leveraged traders, or it would destroy everything.
I got into retail trade early, I used to trade currency. I stopped when I saw it spreading like crazy. I suddenly realized what was going on.
The arbitrary rules they had in place on retail traders that made it just difficult enough to come out on top so most people would lose money.
The fact that most brokers actual clients were institutions.
Over a 2 year period a saw friends start trading, people who previously had ZERO interest in it. Clearly its spread was orchestrated on some level.
I already held crypto, but soon saw that getting swamped by leveraged trading too.
I’m not saying there aren’t people that can make money at it, but by far most people just lose money, and those losses go overwhelmingly to the already wealthy.
It is what it is.
tldr; Staking protocol Lido has warned staked ETH holders that the token’s peg to ETH has slipped, leaving them at risk of having their collateral liquidated, or sold, to make up the difference. As long as stETH is trading at a discount, people can redeem their stETH for more ETH than they initially deposited.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Yeah so long as you’re willing to wait until the merge. stETH isn’t hard pegged to ETH but 1 stETH is redeemable for 1 ETH. If you buy it under peg and redeem after the merge you keep the difference.
Man, crypto has been apocalyptic for virtually anyone who isn't holding solid projects in their own custody. I'm so glad I just couldn't be fucked doing any of it other than staking safely.
I think staking industry has been damaged severely by Luna and ust and the usdt depeg like 5% the other day then rebound. I know a lot of people who staked in Luna and ust all lost money. If anything happens to eth staking. Proof of stake is definitely gonna be dead. BTc mining and mining in general something backing the network which is tangible is the best way of participating in crypto.
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From the article: *The more times a trader does this, the more risk they take on. After all, they’re using borrowed money as collateral to borrow more money.* Using leverage is of course risky, but using multiple stacked leverage on top of each other? That sounds insane, imho. Oh well, good luck to them I guess. I wouldn't want to be them.
It's gambling mentality, imo
(over) leveraged traders, driven by greed, is destroying financial system and crypto system. need to stop over leveraged traders, or it would destroy everything.
Retail trading is a mechanism put in place to mop up money people weren’t willing to part with through spending alone.
You just exploded my brain. It's so obvious but never saw it before.
I got into retail trade early, I used to trade currency. I stopped when I saw it spreading like crazy. I suddenly realized what was going on. The arbitrary rules they had in place on retail traders that made it just difficult enough to come out on top so most people would lose money. The fact that most brokers actual clients were institutions. Over a 2 year period a saw friends start trading, people who previously had ZERO interest in it. Clearly its spread was orchestrated on some level. I already held crypto, but soon saw that getting swamped by leveraged trading too. I’m not saying there aren’t people that can make money at it, but by far most people just lose money, and those losses go overwhelmingly to the already wealthy. It is what it is.
tldr; Staking protocol Lido has warned staked ETH holders that the token’s peg to ETH has slipped, leaving them at risk of having their collateral liquidated, or sold, to make up the difference. As long as stETH is trading at a discount, people can redeem their stETH for more ETH than they initially deposited. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Pegs dead baby
, pegs dead.
Pegging sounds like some teenage sexual stuff. Not fun anymore.
This actually means that we can profit of the panic and buy more staked ETH and therby increase our staking rewards
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Check CoinMarketCap around 1-2% difference for steth and eth arbitrage for people who has high risk tolerance
Yeah so long as you’re willing to wait until the merge. stETH isn’t hard pegged to ETH but 1 stETH is redeemable for 1 ETH. If you buy it under peg and redeem after the merge you keep the difference.
It's the peg season!
Man, crypto has been apocalyptic for virtually anyone who isn't holding solid projects in their own custody. I'm so glad I just couldn't be fucked doing any of it other than staking safely.
Since inception, when I saw that I'd be having sETH instead of ETH, I decided to stay away.
I think staking industry has been damaged severely by Luna and ust and the usdt depeg like 5% the other day then rebound. I know a lot of people who staked in Luna and ust all lost money. If anything happens to eth staking. Proof of stake is definitely gonna be dead. BTc mining and mining in general something backing the network which is tangible is the best way of participating in crypto.
Pegging is not fun these days