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31 sats \ 13 replies \ @Zepasta 23 Nov 2023 \ on: 10101 - Public Beta bitcoin
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You ahould definitelly read the desc again. Selling futures is not gambling. It is hundreds years old contract helping to catter for future volatility. You can gamble on it sure but it is your own choice.
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Exactly. BTC is already a form of gambling due to its volatility. As much as I want it to increase in value (generally speaking), I still think it's a good way to preserve the value. There's nothing wrong with that, @Onions. But, then again, this is just my opinion.
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Just catching up
Bitcoin volatility can be frightening to some users that already have to escape hyperinflation with their own currency.
USDP allow them to dodge volatility for their daily expenses and that's just one of the arguments.
Futures trading using DLC allow users to have lore control on their funds while getting rid of the counterparty risk and the need to trust someone with your funds..
If this is shitcoining to some, fair enough, keep stacking sats in self-custody and leave the rest of the world do what they want with their bitcoins, as long as they own their keys
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Man, you really are Darthcoin Jr. But you're actually a little more classy in a way. Nonetheless, why do you have to be so mean to people all the time? Have you even actually ever researched what futures/derivatives are? Do you know how it works? Because it seems like you never have and you just see it as something that goes against the narrative you believe in so you just insult and shun. Maybe you should at least educate yourself and learn and eventually, if necessary, adapt to become a smarter and better individual. You're literally coming off like a toddler who doesn't want to hear what the other person is saying because you're convinced they're wrong and you're right. Maybe you'll finally get it that Bitcoin isn't king when it crashes and becomes virtually worthless. I wonder if all you bitcoin maxi's will still be screaming "1 sat = 1 sat" when 1000000 sats = $0 USD
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I'm not mean to all people, just to shitcoiners like you. There's a big difference.
You see, in my first comment, I simply said, "" I'm not interested "", and gave my list of reasons. But then you shitcoiners decided to try and act smart with me, and that's when things go downhill. Why should I listen to someone who holds DOGECOIN/ETH? Fuck off.
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Maybe because people have made literally hundreds of thousands to millions of dollars holding/selling what you consider 'shitcoins.' Maybe it's because people have also made tons of money with futures and derivatives. Maybe instead of thinking that listening to what those you disagree with the way you think is pointless because you disagree, You could see it as a way to learn and gain knowledge and maybe find something useful to you in the process. But we all know the odds of that are virtually zero because as I said before you're literally like a toddler holding their hands over their ears saying "la la la i can't hear you." Anything that challenges the way you think is scary to you, isn't it? You were sheltered as a child weren't you?
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While your words evoke good intentions, having made millions of dollars trading shitcoins do not indicate any kind of intelligent activity in the brain of the subject. Try to separate making money gambling from intelligence.
All shitcoins follow Bitcoin price action due to it being the only real digital scarce money in the world, which inevitably brings volatility to it.
All the other shitcoins simply follow it's path when Bitcoin enters an epoch where demand exceeds supply (halvings do have a profound effect on that), and astute scammers convince people to buy other coins controlled just by a few.
Classical game play we've seen over years.
If you're enough degen to get yourself into this obvious ponzis, but do so before everyone else, you'll be making money. Making money is actually easy, the hard thing is keeping it, and the only thing that allows you to keep your money over time is bitcoin.
Be careful with what you believe is intelligence. Look for honesty, and even if rude (there's no problem in that, people can act however they feel it's your decision to allow it to bother you or not), this man who you are all trying to convert into a more sympathetic individual, is honest.
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Just want to clarify one thing. When i correct you (like i did) it is not to educate you personally. I mean it would be great but it is more about other readers. So, nothing personal. Stay dumb, whenever you decide to get out of your shithole we are here to help ❤️
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I understand you have no need for this app, but please do not belittle the activities of merchants and entrepreneurs who need such instruments to run their businesses.
There are and will be companies that work at the friction point between fiat and Bitcoin. They need to plan cash flows in both currencies in advance and using derivatives is one way to eliminate market risk from your operations (and has been for centuries).
There isn't even a shitcoin token associated with it. To "stabilise" part of your balance (say, set aside a USD sum for a future payment) you simply short one against the other with a p2p contract. https://10101.finance/blog/synthetic-stable/
A market maker can take the other side of a trade and earn a profit by providing a valuable service, if they nerd out the numbers (e.g. a "cash and carry" trade).
With options (which are also derivatives, granted, not yet available in 10101), you can even hedge out volatility itself.
In fact, it is a remarkable feat to make the contracts be resolvable self-custodially. Traditionally, a centralised exchange was needed to settle a trade. But from my understanding, 10101 is just a place for traders to meet with offers while the settlement happens out of band. https://10101.finance/blog/trade-settlement
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