ASX and general share trading advice thread

7 East Genetics
Indy

Indy

Misfit
User ID
57
Yep, tip what you can back into your mortgage wherever possible. Saved 40k on the loan, and paid it off 10 years earlier. Sounds like fuck all, but the initial loan was only 125k.

Should've hung onto that joint. It recently sold for 800k, 26 years later.
 

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Red Eye Hero

Red Eye Hero

Baked
User ID
642
My Crypto portfolio has gone from 15,000 to 8000 😬 it’s okay though it’s done this before I had 10,000 turn into 6000 and in a matter of months it was back up
 
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Indy

Indy

Misfit
User ID
57
It's certainly been a crazy ride since bitcoin's inception. It sat there for years doing nothing, then started to see some movement, before it blew out to what it was recently.

I'm no investment guru, but it's just too volatile for me to dabble in. Chicken shit, you could say..

Hope those into it heavily don't come out too bad. 🤞
 
F

frankreynolds

Curing
User ID
40
It's been 13 years since bitcoin came around give or take. What has it brought to the world beside speculative trading?

This whole stablecoin thing leading to this recent drop in bitcoin prices is pretty funny, trying to make money out of thin air.

Just hopefully no one here is left holding the hot potato after all things are said and done.
 
Unknown User

Unknown User

Curing
User ID
1118
I found an article online that explains the LUNA/UST linkage, and what happens when it decouples from that linkage which is in place to provide price stability and equilibrium…. As Below….

UST is an algorithmic stablecoin and is operated via computer codes that help maintain its price equilibrium. The process involves burning or minting LUNA/UST to maintain the price of these tokens.

When a UST is minted, $1 of Luna is burned, while this also happens the other way around for Luna minting and UST burning. As UST threatens to go below its peg, holders will sell their UST (or burn it) for $1 of Luna, making a slight profit. This is until UST rises above $1, when the opposite encouragement happens.

After a large amount of UST was dumped, the stablecoin started to depeg. More UST was sold in a mass panic, minting more Luna and increasing its circulating supply. This had the knock-on effect of then crashing the price of Luna.

According to Wu Blockchain, some 46 million Luna was issued on May 10, with 1.2 billion UST burned. This number seems to have increased further on May 11 and May 12 as the prices drop further.

in a nutshell, once this cycle commenced and continued, the crypto currency literally ate itself, due to its design. There are steps in place to try and recover, but whether they can or not is a guess.
 
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