Official Bitcoin Thread

[stuntman mike]

Any way to bridge USDT from the harmony chain back to ethereum? Trying to move all the rewards I've earned on Defira out of harmony in case that chain dies before they reopen their bridge.

dude...i tried using a few like multichain router and li.fi but i think the problem is the coins on harmony are depegged so my $600 usdc on harmony will only get a tiny amount if i use those bridges. idk man. it didn't seem worth it to me. please, please lmk if you find a way to do it without losing a huge chunk. i am resigned to losing it all.


edit: yoooo READ THIS!
SEC classifies $AMP as a security?!

The Securities and Exchange Commission (SEC) has listed nine cryptocurrencies that it says are securities. This was contained within a complaint arresting and charging a former Coinbase employee and two others with wire fraud.

The assets were: AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM.

 

[noskey]

dude...i tried using a few like multichain router and li.fi but i think the problem is the coins on harmony are depegged so my $600 usdc on harmony will only get a tiny amount if i use those bridges. idk man. it didn't seem worth it to me. please, please lmk if you find a way to do it without losing a huge chunk. i am resigned to losing it all.


edit: yoooo READ THIS!
SEC classifies $AMP as a security?!

Ah damn were all the harmony stables depegged? I thought it was limited to their 1USDC coin. ****.

Glad I sold the majority of my amp bag.

 

[stuntman mike]

I thought it was limited to their 1USDC coin. ****.

**** dude. maybe you’re right. idk. i’m looking at the defira coin changer swap and my usdc is worth almost the same amount if i swap to usdt. i’m guessing the difference is swap fees. should i swap it? leave it? chalk the whole thing up as a loss? if they ever open that bridge back up, it’s gonna be a mass exodus lol.

 

[noskey]

**** dude. maybe you’re right. idk. i’m looking at the defira coin changer swap and my usdc is worth almost the same amount if i swap to usdt. i’m guessing the difference is swap fees. should i swap it? leave it? chalk the whole thing up as a loss? if they ever open that bridge back up, it’s gonna be a mass exodus lol.

Idk I haven't kept up. I just figured that since I have a bag of defira and tranq that aren't locked, I'd swap em. I also noticed the exchange rate was pretty equal for any stable so I just went with USDT, knowing USDC was compromised and DAI isn't as confidence inspiring as tether rn.

But yeah I hope they actually solve the problem and prevent a bank run.

 

[stuntman mike]

But yeah I hope they actually solve the problem and prevent a bank run.

isn’t there a CEX that bridges to harmony? either coinbase or binance? i wonder if that would work?

 

[D Double]

I never touch any bridges involving ETH because of gas fee PTSD.
I just exchange on an AMM and use a CEX to do the swap

 

[johnnyredstorm]

You could use Optimism’s low gas bridge to move ETH on an L2 and then use Hop to send it Polygon and Wormhole to get anywhere else

 

[noskey]

isn’t there a CEX that bridges to harmony? either coinbase or binance? i wonder if that would work?

Kucoin is how I moved all the ONE I've used in Harmony. So maybe converting and sending back to them?

 

[stuntman mike]

Kucoin is how I moved all the ONE I've used in Harmony. So maybe converting and sending back to them?

please check the conversion rate for ONE back to USDT before you move the coins and lmk how it looks. i swapped USDC for ONE, sent it over to polygon and tried to swap back to USDC and was only going to get a fraction of back. ended up sending it back to harmony and parking it.

edit: ONE is currently trading at .12 on harmony (viperswap, defira coin changer etc.) pricing on all other chains is .02
that basically ruins any movement of ONE off chain.

 

[kingsteez]

Man I read up on everything in here. Here I am just gambling with solana NFT’s and Y’all are the true degens.

Bless y’all’s hearts. I hope everyone nothing but success.

 

[tay1]

 

[D Double]

The words Ethereum and Soon shouldn't be used together.

Vitalik said ETH will only be 55% done after the merge and that 100K TPS figure is from using layer 2's.

Hoping for another pullback to the $1200 range to load up on some more.

 

[stuntman mike]

Hoping for another pullback to the $1200 range to load up on some more.

i’m guessing you’ll get your chance. tech stock earnings, interest rate raise, CPI coming up, monkey pox on the rise, to name just a few.

 

[D Double]

i’m guessing you’ll get your chance. tech stock earnings, interest rate raise, CPI coming up, monkey pox on the rise, to name just a few.

Yea, I've been waiting for the 27th for all that. Well, except monkeypox.
But we're dipping now so I'm wondering if something got leaked like last time.

 

[stuntman mike]

But we're dipping now so I'm wondering if something got leaked like last time.

it’ll be wild if we get 100 BPS.

 

[noskey]

it’ll be wild if we get 100 BPS.

Send ETH under 1k and I'm unloading the clip. Well, half the clip. Will load up on 3 or 4 ETH if we hit triple digits. Feel like by EOY we'll probably see lower lows but obvs can't predict when.

We need a 1 point raise tho - these half measure hikes the fed is doing is prolonging the pain. Would be nice to have the bandaid ripped off and kick start the inevitable recession. Get it over with by end of next year if they would play it right.

 

[D Double]

Anyone setting some limit orders for tomorrow?

Send ETH under 1k and I'm unloading the clip. Well, half the clip. Will load up on 3 or 4 ETH if we hit triple digits. Feel like by EOY we'll probably see lower lows but obvs can't predict when.

We need a 1 point raise tho - these half measure hikes the fed is doing is prolonging the pain. Would be nice to have the bandaid ripped off and kick start the inevitable recession. Get it over with by end of next year if they would play it right.

I won't be surpised if we get 100bps. Tackle inflation faster so that they can pivot quicker before midterms.
I'm thinking end of the year we will see better numbers for crypto because inflation should've peaked and the politicians will try and force the hand of the FED.

But there will be all these other macro factors like the war and energy crisis in Europe plus China's problems that could cause an effect too so who knows.

 

[ballinsam23]

It’s gonna play around in that 18-24k range for the rest of the year.

 

[calibeebee]

Fed raised interest rates again. Instant crypto and stock bump

 

[WASHED KING]

Fed raised interest rates again. Instant crypto and stock bump

Smells like a trap. I don't see anything to warrant this.

 

[D Double]

Smells like a trap. I don't see anything to warrant this.

Guess the rate hike was priced in. Once we knew it wasn't 100bps every thing pumped. Markets just hate uncertainty.

I'm still waiting to see what happens on Friday once they say we're in a recession. I know the White House been trying to change the definition and there's an emergency press conference after the GDP numbers get released.

I can't DCA into this pump but if it's all good news then we can go to 28K BTC from here but I'll wait for a pullback.
I really wanted that $1200 ETH

EDIT: The news was today not Friday

 

[ballinsam23]

I’m still a bear. Think we go back down to 18 and then rollercoaster there for a couple of months.

Need to see these unemployment numbers though. If that goes up and technically we’re in a recession, im gonna start buying less and saving cash more in the short term.

Pumping when there’s no good news is a trap if Ive ever seen one.

 

[TonyJetsun]

Does anyone know about parity ?! When will 1 usd = 1 Satoshi?

 

[WASHED KING]

Guess the rate hike was priced in. Once we knew it wasn't 100bps every thing pumped. Markets just hate uncertainty.

I'm still waiting to see what happens on Friday once they say we're in a recession. I know the White House been trying to change the definition and there's an emergency press conference after the GDP numbers get released.

I can't DCA into this pump but if it's all good news then we can go to 28K BTC from here but I'll wait for a pullback.
I really wanted that $1200 ETH

EDIT: The news was today not Friday

I agree with that.

But we’re definitely in a recession.

 

[50inchvert]

What I fail to understand in my whole 10+ years of stock and crypto "investing" is how are the prices controlled so precisely?

We always hear about resistance levels. There really has to be a collective effort or major influence to keep an asset from pushing past a certain amount and that effort has to be extremely calculated.

Is that really the case?

It's as if a highly influential group knows the perfect time to pull out to keep an asset from pushing past a certain point. If that's how it goes down then these guys are good!

P.S. Please excuse my ignorance on this matter.