Replies (44)
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.
Probably way more than half. The ones that admit it are the honest ones.
Any fiat financial outfit having the chance to do it but not doing it would surprise me 🤷♂️
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.
The answer was known 5 years ago, when Monero Bros figured that fractional reserves have been weaponised to price suppress.
Bitcoiners were to proud of fiat NGU at that time to read between the lines and prepare a proper defense against this attack.
But realistically it all started in 2017 with CME and CBOE "adoption" to "tame the prices"
Jane Street Merde!
You monero bros are almost worse then the fiat retards
It’s amazing that you can’t just abstain from trying to promote your privacy shitcoin anytime someone posts something about bitcoin
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.
Agreed. Extreme volatility ahead.
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
Some people don't know how this game works. You seem to have a grasp.
Idiots in 2021: "The institutions are coming!!! Moooon!".
Just more news fuel. Written to attract views. Move on 👀
I totally see your point but I think bitcoin is in a better situation than it was 2 years ago.
This is just the way of things. People will try and covet wealth/power and will do nefarious shit to gain it.
There’s a really good book called Flash Crash, same author as Big Short that goes into the details but its basically pretty easy to do, and our regulators or for sale so no repercussions unless you get sued apparently.
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.
but he's also right.
rather than cheering institutional adoption and ETF layering, concentrating on building decentralized exchange infrastructure solves the problem.
Shitcoining again?
Omg stop bro please please bro think of the kids
How many kids you kill on behalf of Israel?
“So then, the (21M) cap is irrelevant when Jane Street can fabricate unlimited synthetic supply through undisclosed derivatives stacked on top of its own ETF inventory.”
Now we know the answer to the price mystery. And color me not surprised.
Paper bitcoin…
X (formerly Twitter)
Justin Bechler #BIP-110 (@1914ad) on X
The 10am Drop: How Jane Street Broke Bitcoin's Price
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.
Zero but glad I am still living rent free in your head
Cope harder retard
Don't lie Stein
Such an Israeli response 🤣👋
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
People don't want to learn self custody. This will always be true. There will always be paper bitcoin.
What surprises me about this is that people are surprised by this.
Rent free!
How many children did you sacrifice today?
Maxis were buying the dip off of “that slop” for years
Cheap Sats for the plebs. Load up boys
