Play stupid games, win stupid prizes.

So frustrating and all so tiresome Cannot wait until these fiat fuckheads to get blown up

Do you think this is the only company doing that? I'm pretty sure more than half of the Bitcoin companies are doing this.

Rack em!

How does derivative trading affect the price of the underlying asset?

It's not that you have not been warned. With Monero we figured that effective means of (naked) shorting have been applied to Monero through CEX. Monero was the only coin out of millions of literal shitcoins that heavily underperformed in the last cycle. The analysis showed that CEX were using fractional reserves and the community started to pressure exchanges (Monerorun) which resulted in weeks to years of halted withdrawals in almost all CEX. Now Bitcoiners instead of listening to our voices went full steam ahead embracing with open hearts the financalization of BTC through ETFs and other derivatives solely possible on custodial platforms aka not your keys not your coins trust me bro corporate slopshit. You reap what you sow. I wish Bitcoiners would have listened but fiat NGU muddied too many brains even proud of shitting on Monero's underperformance.

They can trade paper bitcoin all they want. 🙄 Bitcoin may be permissionless but it not for dumb people.

Jane Street Merde!

The 21M cap constrains protocol issuance — it doesn't constrain paper exposure layered on top. Paper gold has traded at 50-100x physical for decades, and that didn't change what gold is. The question is what happens when counterparties demand on-chain settlement: the derivative collapses to protocol truth, not the other way around. Jane Street's synthetic exposure is a claim on Bitcoin, not a substitute for it.

«there is no paper bitcoin morons» -some bitcoin guru Yeah, kiss my fucking ass. and you can bet your socks there are a ton more of this in all corners of the system.

This sucks for the O.G.’s but anyone who got in since 2022 should be counting their blessings 😂

Predictable. Anyway this is only on the short term imo. Price always corrects in the long term. But the way Bitcoin brokes this is by using Bitcoin as money.

I don’t get how any entity can move a 2T market without getting their asses ripped out by spreads and fees. If you’re trading in that much volume then as soon as the market moves you lose the margin that would have made the trade profitable. You lose on the way down and way back up

Idiots in 2021: "The institutions are coming!!! Moooon!".

Just more news fuel. Written to attract views. Move on 👀

Derivatives multiply claims but not the underlying. Self-custody remains the only way to hold actual scarcity. Everything else is someone's promise to pay.

Derivatives multiply claims but not the underlying. Self-custody remains the only way to hold actual scarcity. Everything else is someone's promise to pay.

Shitcoining again?

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It’s why self custody and privacy are the battle. Anyone standing in the way of privacy tech for Bitcoin is probably my a fed.

They said on the podcast everything is good for Bitcoin so this must be also.

All the on chain "influencers" all just said it was only long time coiners "taking profits". My ass. This financial system is so scummy. Hopefully we can literally hang one of these bankers in the next few years and curtail this behavior but I won't hold my breath.

I don’t believe any of that slop

What surprises me about this is that people are surprised by this.

Cheap Sats for the plebs. Load up boys

Omg stop bro please please bro think of the kids