FinTech

Cobie And Chris Burniske On How To Navigate A Crypto Bear Market

However three months is still considered early in the crypto world and it is also likely that SSW’s price may bounce back if it has a solid team and has delivered what they promised on their white papers. Therefore traders should be careful and should research thoroughly and see if SSW is backed by a solid development team and whether SSW’s technology has any potential to grow. If you are planning to stay in the crypto scene for a while, it is highly recommended that you get a hardware wallet.

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But the APEcoin version of staking was just nothing. We’ll pay you if you don’t sell your coins is basically the version of staking they were going for. And then, ETH was more in that 100x realm. ETH was only 60x from a bottom of 80 to about 5000.

I think they had 10 billion or so redemptions go through, and that happening I think is a very good thing because now that is also slightly derisked still. I personally don’t believe that it will, but you have to test these things otherwise you can just be building on the sand or whatever that old fable is. And then, you know, specific to Terra, I remember Alex Evans, myself, and Joel Monegro met with the Terra team and Luna was up a dollar, and I want to say it was at Defcon in Osaka, and I just had this one question. I didn’t understand the system in full, but my one question was does Luna either have to stay stable or go up for this system to work, and the answer was yes.

Again, BTC is a cycle progressed, right, so it’s not even going for the 100x that it got in ’17. If you look at ’21, BTC was roughly at 20x. https://xcritical.com/ Yes, it was 70K, so it was like 23x. Now, there’s a bunch of things that make the world as a whole unit very different from Japan, right.

If the exit is sufficiently large, then obviously that program to zero thing actually happens. Today’s topic is the crypto bear market. Here to discuss are Chris Burniske, partner at Placeholder Ventures, and Jordan Fish, aka Cobie, cofounder of Lido, cofounder of UpOnlyTv, and author of the Cobie Newsletter.

But it was mostly insider-owned, and then some was airdropped to people that owned and bought NFTs. And then, you know, the airdrop goes. It’s worth 10, 20 billion dollars. I don’t remember how much this coin is worth in total, and then one of the people on the APEcoin board….

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But I also think it’s bad that the term staking has just been changed to mean something different. Originally, it did actually mean something important to make a system viable, and staking, which is being paid for not selling your coins doesn’t really do anything within a system. I mean, it maybe influences the price in a positive way. So, the Ethereum Killers was…it was the same sort of trade as Ethereum was in 2017, where Ethereum sort of was like a little planet, and the planet was growing because more people were coming to live on the planet, and they were building stuff on the planet, right. So, the planet’s economy got better, and the planet’s base currency was worth more because more people were using it for stuff.

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They can prop it back up again. But if there is sufficient demand may be based on real-world demand like you can use this currency everywhere, perhaps that equilibrium is so large on both sides that it’s hard to break, or it’s hard for it to become one-sided or something. The SUN.io platform is TRON’s first one-stop platform that supports…

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That’s the exact right answer. It’ll be the US government that launches, you know, the effective algo stable. I don’t think it’s our last of this bear. I think we need at least one more, and I’ll pause there. This episode of Unchained is brought to you by Beefy Finance, the multi-chain yield optimizer. Beefy is the easiest way to earn more from your crypto.

  • Specific to ETH, ETH is going to continue to scale.
  • They can prop it back up again.
  • ETH in the last bear, which was really the only major bear it’s gone through, so this is 2018, 19, ETH fell 95 percent, so once you’re at 80 percent down, you actually have to fall 50 percent again to get 90 percent down, and once you’re at 90 percent down, you have to fall 50 percent again to get 95 percent down.
  • Both of you have been through multiple bull and bear markets.
  • You will be asked to add a payment method.

It’s like confidence that the system can hold up, and you’re happy to sit in those dollars as long as you believe, and if everyone believes and there isn’t enough people that want to exit, so the system has equilibrium of people wanting to enter and wanting to exit at the same time. I think that maybe an algo stable could work. I don’t want to be the person that says no, it will never work, and then five years from now, there’s a perfect algo stable, and everyone’s dunking on me.

Even people that would have been annoyed about talking about the bear market before now have sort of accepted it, and it’s sort of flipped the other way where if you have any sort of bullish or contrarian thoughts on price action, they get annoyed with you now for having a bullish idea so, yes, I think it’s pretty messy. KuCoin is a cryptocurrency exchange based in the Seychelles . Launched in September 2017, KuCoin claims to have 5 million users from over 200 countries and regions. Often known as the People’s Exchange, KuCoin now offers crypto-related services like crypto-to-crypto, fiat-to-crypto, futures trading, staking, lending and so forth.

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Hopefully, by that point we have the ETH merge kicking in, and there’ll start to be new green shoot narratives that are moving into place for crypto, and you also have a lot of builders building cool stuff in crypto right now. It doesn’t happen in a quarter or even half a year, but you can start to see some of that within a year or two. They’re selling bonds into the markets, which actually sucks liquidity out of the market. And you know, there are arguments to be made around how dependent asset prices are in liquidity, and so when you’re sucking liquidity out of the market, it’s almost like a boa constrictor just tightening around assets and compressing them. I think we’ve just reached the point where there’s wide consensus on bear market because it not only takes a while, right, for people to have the firm consensus together. When we’re actually in a bear market probably a little while ago you had really bad price action where you had a lot of…I think, seven to nine weeks after the top, you could sort of begin to have a lot of conviction that things were looking worse, there’s price action really changed, but I think over the last month it’s sort of become unanimous.

Bitcoin, Ethereum, Seesaw Protocol -Should You Buy the Crypto Crash? – BeInCrypto

Bitcoin, Ethereum, Seesaw Protocol -Should You Buy the Crypto Crash?.

Posted: Fri, 04 Feb 2022 08:00:00 GMT [source]

Utrust was designed to provide a solution to the problems… Click on Connect Wallet if you haven’t done so already. Otherwise you should be able to see your BNB balance here at the from field, enter the amount you would like to exchange for SSW and then on the to field, choose SSW from the dropdown, the corresponding amount of SSW should show up immediately. Verify and then proceed with “Swap”. In the next screen, confirm the transaction once more by clicking Confirm Swap. Now MetaMask should pop up and ask you if you want to allow PancakeSwap to spend your BNB, click Confirm.

That’s like a, for me, worst-case scenario, actually, because what I’d prefer is major flush, pandemonium, chaos, but then I kind of as a…in bear markets, I’m a…basically, a distressed asset buyer, like Placeholder buys in bear markets and sells in bull markets, and it’s quite easy if you really zoom out. It’s not that I enjoy max pain. I also get wrecked, but max pain is huge opportunity, especially if then it recovers to the outside pretty quickly. And so that’s where, for me, personally, as a high-growth investor, this kind of meandering low inflation environment would suck, and that could persist for a few years. That’s kind of my worst-case scenario.

Price

That’s surprising, which is a shock, so yes. But I mean, this price action was going to happen anyway. Roughly, global financial markets are in a bit of a collapse. Netflix is down, what, 90 percent or something. A lot of tech stocks are completely ruined, and Bitcoin’s previous bear markets have never really existed through that kind of a scenario before, so if you go to Chris’ question about how bad can the bear market be, I think people don’t really know yet because previous Bitcoin bear markets have still been in reasonably favorable conditions. It’s always been an equities bull market while Bitcoin’s had its bear market, so this will be the first time that that’s not true if the stock market also continues to struggle.

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And so, I think this is where the nuances of what is a bear market emerge. I toggle between log and linear scales. If I look on linear scales, the parabolas have clearly been broken. The bull market of last year is broken.

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Really, what was happening was people were raising money in Ethereum, so people had to buy Ethereum to buy these speculative investments through ICOs in 2017. If you look at the Fed, my view is basically the Fed is much more political than people want to admit. We’re going into midterms towards the end of this year. The Fed has to bring down inflation for midterms, so it’s getting very tough.

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I have completely no idea, and sort of throughout history I have never known until I’ve seen it. You know, if I try and post rationalize, I can go back in my head to 2013 and be like, yes, I totally saw the future of, and I saw, you know, Uniswap and all these things, but really, I didn’t. I just, you know, I wanted there to be a financial system that worked in the same way Bitcoin worked, and I didn’t really know what that looked like. I’m sure maybe that looks like some parts of decentralized finance, and you know, some parts of decentralized finance are not practically decentralized, so I think we’ve got a long way to go. He was very early and at-scale, you know because early crypto was very different from now. We don’t go through as many exchange values.

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I actually want to unpack the macro stuff a little bit more, but I want to just touch on the Stablecoins a little bit more before we do that. So, certainly, that was a precipitating event that made things very bad very quickly. I believe that if that hadn’t have happened there would have been some other kind of event that could have caused, you know, similar falls, but you know, our bottoms like that tend to be liquidation induced or leverage unwinds of some kind that then trigger all these auto sales, trigger all this panic, and then everyone just goes into sell. It’s so fascinating what you just said about Bitcoin, especially, about if it were to go down 80 percent total, it would have to be 50 percent from now, which would mean 15,000 dollars, which then would be below the high from the 2017, 2018 cycle. Welcome to a new world of crypto-friendly banking with Cross River Bank. Request your fiat on/off-ramp solution now at crossriver.com/crypto.

And for me, when I was like, when you are requiring a very volatile asset to either stay stable or go up permanently in the crypto market, that is eventually going to get severely tested. And so, it’s not like I had all these models and proofs of like, okay, UST’s probably going to fail. It was more like, UST had gotten severely tested before the, you know, some basics of the design were suspect, and there were, you know, other very smart people that were doing deep research to prove how this wasn’t going to hold. One, trying to operate an algorithmic Stablecoin is basically like trying to be a central bank before 1971 where you have limited reserves to defend your peg, and those reserves are actually…they tend to be even more transparent, so people know when you’re tapped out. Like, for example, I don’t think…I don’t anticipate we get a 1929-style great depression because the form of monetary and fiscal policy is now very different and evolved, so that’s one thing. SSW has been down 99.81 percent over the last three months, and with its small market capitalization, it is very likely that such price movement may continue.

It was more hostile to retail. LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer.

This is on growth equities like FANGs. They’re phenomenally cheap right now for what their future growth is, and to say that they’re not going to recover, you’re making a bet that the digital is not going to continue to take over in our lives. But I have these two competing ideas in my head, and I don’t know where I sit anymore. To be honest, I don’t think it matters. I’ll just wait for additional information because I don’t really understand how macroeconomic stuff works, and if I tried, I’d get it wrong.

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PancakeSwap is built on an automated market maker system which relies on user-funded liquidity pools and that is why it can work perfectly without a traditional order book from centralised exchanges. However, you said you wanted to end on a high note. I don’t want to end on a high note because this episode was about bear market, and I do want to draw a parallel between what I think might happen soon and what happened with Luna because you saw Luna. You know, it was worth 100 dollars, and it started crashing, and it just went in a straight line downwards, right. I don’t know if anyone’s ever seen something in crypto do that before, but it just kept going down.

First of all, it is just paying people for not selling, and you get paid in the currency that you’re also not selling, so it’s just diluting the overall supply. If everyone was staking, you own the same amount of…you own the same percentage of the network but more coins. But the coins are probably worth less. Then you’ve incurred tax obligations for nothing.