How do people make wires for millions like it's peanuts?

[lacomaco]

if the volatility of USD to BTC bothers you then it's probably a wrong use case

Yes, I agree, moving millions without taking into consideration the price risk of cryptos is stupid

 

[JackAlabama]

Yes, I agree, moving millions without taking into consideration the price risk of cryptos is stupid

That depends on the parties invloved and if they freak out by some eventual price drop and bear market trauma, like you obviously are.
For the fiat minded, you can also use usdt which is usd and do not have to deal with short term price fluctuations.

 

[lacomaco]

This is called vola. It also works the other way around. Its mental model and some adjustments you need to deal with this.

Have you moved some into Bitcoin in Mid-Nov, Dec and early January, you are up almost 100%.

I know that crypto is a religion, and it is pretty useless to argue with religious people about btheir religion, do you say that when moving millions this price risk (and some counterparty risk also) should not be also considered? Irrespective of your or my ideology an asset which is very volatile is probably not the best for safe transactions IMO

That depends on the parties invloved and if they freak out by some eventual price drop and bear market trauma, like you obviously are.
For the fiat minded, you can also use usdt which is usd and do not have to deal with short term price fluctuations.

I am sorry but I did not and do not freak out and suffered no trauma, just trying to approach something from the risk perspective instead of psychology.

I know that crypto is a religion, and it is pretty useless to argue with religious people about btheir religion, do you say that when moving millions this price risk (and some counterparty risk also) should not be also considered? Irrespective of your or my ideology an asset which is very volatile is probably not the best for safe transactions IMO


I am sorry but I did not and do not freak out and suffered no trauma, just trying to approach something from the risk perspective instead of psychology.

On the note of USDT, did you consider that the crooks operating USDT might have suffered the same price decrease in their US government bond purchases as nearly all US financial institutions? I heard about US$600b loss (albeit paper loss) bank suffered?

I know that crypto is a religion, and it is pretty useless to argue with religious people about btheir religion, do you say that when moving millions this price risk (and some counterparty risk also) should not be also considered? Irrespective of your or my ideology an asset which is very volatile is probably not the best for safe transactions IMO


I am sorry but I did not and do not freak out and suffered no trauma, just trying to approach something from the risk perspective instead of psychology.

On the note of USDT, did you consider that the crooks operating USDT might have suffered the same price decrease in their US government bond purchases as nearly all US financial institutions? I heard about US$600b loss (albeit paper loss) bank suffered?

 

[JohnnyDoe]

I know that crypto is a religion,

it is not a religion, it is another type of currency. Btc just happens to be much better than any other fiat currency. If you prefer to use USD, Yugoslavian Dinars or sea shells, it’s completely up to you and your trading partners. Just be aware that the value of all fiat currency tends to zero. In fact, the present value of any fiat currency issued a hundred years ago is lower than the value of a conch.
Summing up: btc>conch>fiat

 

[JackAlabama]

I know that crypto is a religion, and it is pretty useless to argue with religious people about btheir religion, do you say that when moving millions this price risk (and some counterparty risk also) should not be also considered? Irrespective of your or my ideology an asset which is very volatile is probably not the best for safe transactions IMO


I am sorry but I did not and do not freak out and suffered no trauma, just trying to approach something from the risk perspective instead of psychology.


On the note of USDT, did you consider that the crooks operating USDT might have suffered the same price decrease in their US government bond purchases as nearly all US financial institutions? I heard about US$600b loss (albeit paper loss) bank suffered?


On the note of USDT, did you consider that the crooks operating USDT might have suffered the same price decrease in their US government bond purchases as nearly all US financial institutions? I heard about US$600b loss (albeit paper loss) bank suffered?

Again, this is called vola which is not implying risk nor vice versa. You can also hedge your price etc. etc.

There is also absolutely no need to come forward with the "religion" stuff written right out of your moms basement. You can bring up arguments like an educated adult and leave these hits be. This applies also to accusations.

Maybe they hold only durations 3m. Do you have a source of their investment portfolio?

 

[lacomaco]

Again, this is called vola which is not implying risk nor vice versa. You can also hedge your price etc. etc.

There is also absolutely no need to come forward with the "religion" stuff written right out of your moms basement. You can bring up arguments like an educated adult and leave these hits be. This applies also to accusations.

Maybe they hold only durations 3m. Do you have a source of their investment portfolio?

For the fiat minded, you can also use usdt which is usd and do not have to deal with short term price fluctuations.

Dear JackAlabama, as I had and have around USD10,000 in crypto, your presumption that I freaked out and had trauma is clearly wrong. I can consider your second remark about "writing out of my moms basement" either a joke or a personal insult, like maybe your first remark. I was taught by a very intelligent person that when people, instead of answering real questions normally (like price risk, settlement risk (with FTX, Binance and others), counterparty risk (such as USDT) resort to personal insults then it is pretty useless to continue any conversation. Prove me wrong please in my interpretation of your words as personal insults. Thanks!

 

[PinkCat]

Guys don't turn this thread into a crypto debate. Stick to the topic please
I like crypto a lot, but we still need fiat on and off ramps so....

 

[JackAlabama]

Guys don't turn this thread into a crypto debate. Stick to the topic please
I like crypto a lot, but we still need fiat on and off ramps so....

There are so many of these. Especially OTC/P2P. They also increased massively over the years.