gecko89 Posted November 22, 2021 Report Share Posted November 22, 2021 Guys, anyone heard of or used trailingcrypto.com? Was looking for a way to trail stop limit/loss order on Binance as Binance doesn't support this for spot trades. Quote Link to comment Share on other sites More sharing options...
rushab oswal Posted November 23, 2021 Report Share Posted November 23, 2021 Quote Link to comment Share on other sites More sharing options...
Bird Bird Bird Posted November 23, 2021 Report Share Posted November 23, 2021 44 minutes ago, rushaboswal said: Not much will change. Quote Link to comment Share on other sites More sharing options...
gecko89 Posted November 23, 2021 Report Share Posted November 23, 2021 On 11/22/2021 at 3:28 PM, gecko89 said: Guys, anyone heard of or used trailingcrypto.com? Was looking for a way to trail stop limit/loss order on Binance as Binance doesn't support this for spot trades. Or any alternate method to place trailing stop loss orders also welcome. Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted November 23, 2021 Report Share Posted November 23, 2021 Crypto taking a nosedive across Indian exchanges. Quote Link to comment Share on other sites More sharing options...
ZooZoo Posted November 23, 2021 Report Share Posted November 23, 2021 BC mera Shibu Coin ka investment saare aaj tak ke profit kha gaya. Its a worthless coin now. No point getting out now. I will hold it indefinitely. Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 Government doesn't want to lose its authority over currency. Quote Link to comment Share on other sites More sharing options...
KnackChap Posted November 24, 2021 Report Share Posted November 24, 2021 I would rather wait for the bill to tabled and passed to read the official rules than believe guys like him. Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 https://prsindia.org/billtrack/draft-banning-of-cryptocurrency-regulation-of-official-digital-currency-bill-2019?s=09 I think the govt wants to bring in an RBI backed digital rupee (or indian crypto). Quote Link to comment Share on other sites More sharing options...
Bird Bird Bird Posted November 24, 2021 Report Share Posted November 24, 2021 I get all the decentralised love for crypto, but genuinely, for a typical middle class salaried person who would pay their taxes on time (there's no other option), what benefit does crypto provide except speculative trading ? Blockchain is not crypto. So let's not talk about the underlying tech. What are the legitimate uses in day to day life ? With so many new fangled coins been promoted on twitter etc, it is extremely easy to manipulate and earn millions out of other's pockets. I'm not saying the stock market is a saint, but you do have a fundamental background to study. Whether you do it or not is entirely different. But what about most cryptos ? The overnight sensations just use a bunch of buzzwords and celebs to promote, cash out and run. What value is Shiba coin providing except gambling after Musk's endorsement ? How many people really understand how cryptos work ? Strictly my opinion, but it is gambling. Not blaming the technology, but what are the real legitimate uses of cryptocoins ? 4 Quote Link to comment Share on other sites More sharing options...
Anshul Posted November 24, 2021 Report Share Posted November 24, 2021 15 minutes ago, Bird Bird Bird said: I get all the decentralised love for crypto, but genuinely, for a typical middle class salaried person who would pay their taxes on time (there's no other option), what benefit does crypto provide except speculative trading ? Blockchain is not crypto. So let's not talk about the underlying tech. What are the legitimate uses in day to day life ? With so many new fangled coins been promoted on twitter etc, it is extremely easy to manipulate and earn millions out of other's pockets. I'm not saying the stock market is a saint, but you do have a fundamental background to study. Whether you do it or not is entirely different. But what about most cryptos ? The overnight sensations just use a bunch of buzzwords and celebs to promote, cash out and run. What value is Shiba coin providing except gambling after Musk's endorsement ? How many people really understand how cryptos work ? Strictly my opinion, but it is gambling. Not blaming the technology, but what are the real legitimate uses of cryptocoins ? Agreed with everything here. And everyone seems to be missing the real point with cryptocurrencies. It's fundamentally down to bitcoin vs the rbi backed currency. So bitcoin backers, whats the advantage of bitcoin over an official coin ? hmmm... Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 Crypto currency basically was meant to serve as an alternative to government backed fiat currencies and the idea got steam specially during the sub prime crisis. Basically to be used as a buffer during economic crises. Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 9 minutes ago, Anshul said: Agreed with everything here. And everyone seems to be missing the real point with cryptocurrencies. It's fundamentally down to bitcoin vs the rbi backed currency. So bitcoin backers, whats the advantage of bitcoin over an official coin ? hmmm... Rbi coin would be pegged to the INR, so it would never be competitive. Quote Link to comment Share on other sites More sharing options...
Bird Bird Bird Posted November 24, 2021 Report Share Posted November 24, 2021 6 minutes ago, radicaldude said: Crypto currency basically was meant to serve as an alternative to government backed fiat currencies and the idea got steam specially during the sub prime crisis. Basically to be used as a buffer during economic crises. I get the intent. What's the actual use ? Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 Just now, Bird Bird Bird said: I get the intent. What's the actual use ? Alternative to the govt backed currency. Giving people, the power back wrt greater economic independence. Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 Crypto enthusiasts believe recessions occur when govts fail to act timely. Hence alternative mediums of currency/trade/barter should exist thus taking the power away from governments to control the economy. Quote Link to comment Share on other sites More sharing options...
KunjanPSD Posted November 24, 2021 Report Share Posted November 24, 2021 2 minutes ago, radicaldude said: Crypto enthusiasts believe recessions occur when govts fail to act timely. Hence alternative mediums of currency/trade/barter should exist thus taking the power away from governments to control the economy. Alternative forms of currency can't act as the sole medium till the time their value is derived via comparison with the fiat. I understand people needing an asset which can hold its value, be inflation proof and can't be printed overnight but the dependence on another currency which is susceptible to all of the above, hardly even qualifies as a proxy play. As at the end of the day, value of BTC/Ether etc are expressed in terms of fiat. People holding and selling these cryptos evaluate their wealth in fiat. Transactions take place based upon the fiat value of goods. There is no concrete concept of something being evaluated in terms of a crypto. Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 1 minute ago, KunjanPSD said: Alternative forms of currency can't act as the sole medium till the time their value is derived via comparison with the fiat. I understand people needing an asset which can hold its value, be inflation proof and can't be printed overnight but the dependence on another currency which is susceptible to all of the above, hardly even qualifies as a proxy play. As at the end of the day, value of BTC/Ether etc are expressed in terms of fiat. People holding and selling these cryptos evaluate their wealth in fiat. Transactions take place based upon the fiat value of goods. There is no concrete concept of something being evaluated in terms of a crypto. Right now, it's being used as a speculative mode of growing wealth only. Unless exchanges which specialize in crypto get established (and get backing from the govt) it would remain this way. However, if such exchanges get legalised, that would erode govts power as well. Basically crypto is a form of a protest. Hence many govts are going after it. Quote Link to comment Share on other sites More sharing options...
Bird Bird Bird Posted November 24, 2021 Report Share Posted November 24, 2021 9 minutes ago, radicaldude said: Crypto enthusiasts believe recessions occur when govts fail to act timely. Hence alternative mediums of currency/trade/barter should exist thus taking the power away from governments to control the economy. I get the intent, again. However, most of the speculative trading happens in fiat. The value is, for all practical purpose, derived from fiat. Would half the world trade if trading was only allowed between crypto pairs ? For controlling the economy, it has to be accepted everywhere. Venezuela is a recent example where hyper inflation drove the citizens to use cryptos for exchange of goods - but did it sustain ? No. US sanctions lead Paxful to leave Venezuela, and P2P exchanges came to a halt. Unless there's a grassroots level of buy in, it is extremely difficult for day to day use. Add to the fact that the inherent value is inconsistent. A BTC this moment is 40L, it can be 30L or 50L tomorrow. How can you save when you don't know what your savings are worth tomorrow ? It's the same challenge when exchanging. You want to buy and pay in X BTC today, a few hours later, it's worth 1.5X or 0.5x. It doesn't provide day to day stability needed for smooth functioning of economies. And the moment government "regulates" crypto, is it any different than fiat ? 1 Quote Link to comment Share on other sites More sharing options...
radicaldude Posted November 24, 2021 Report Share Posted November 24, 2021 3 minutes ago, Bird Bird Bird said: For controlling the economy, it has to be accepted everywhere. Yes I agree. Govt won't let that happen so presently it is being used extensively on the dark web to transact contraband. I think volatility is purely due to the speculative nature of the currency. Just a tweet can make or break a billionaire. It's like investinf a significant wealth on some abstract NFT, based on speculation that the wealth may go up in the future. Personally I feel the world is not ready yet for cryptos Quote Link to comment Share on other sites More sharing options...
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