GameSTONKS Thread - Power to the meme's

[Dantrag]

@40k a pop god I fucking love this game

How much did you make? I don't understand that at all lmao.

[BerenTebogo]

How much did you make? I don't understand that at all lmao.

I didn't make anything. It's just a few hundred million worth of BTC contracts market sold by (likely) one entity + stop triggers totaling a few billion within a few minutes. Hilarious.

[Dantrag]

I didn't make anything. It's just a few billion worth of BTC contracts market sold by (likely) one entity within a few minutes. Hilarious.

So is each contract 1 full bitcoin?

[BerenTebogo]

So is each contract 1 full bitcoin?

If bought without any leverage, yes. It is likely that in this case somebody with a few hundred million turned on 100x leverage and market shorted. Can't be liquidated when you're literally the one moving the market. This then triggered liquidations in over-leveraged longs.

[Zetanio]

lol

[Boyiee]

BTC going to space with tesla.

[BerenTebogo]

BTC going to space with tesla.

thank u elon, mi familie

[Dantrag]

Well, since losing my 10k, I've since pretty much made it back...

Sold 300 shares this morning to cover the initial investment

[BerenTebogo]

Feels good to be balls deep in crypto rn tbh. Excited for the next few months.

[archibaldcrane]

Does this make any sense to anyone here?

(if you don't know what you are talking about feel free to not chime in)

[Yabby]

I think they are just saying that when they start accepting bitcoin, they will have the means to exchange with their customers for whatever needs they may come across. Like if they need to refund something, etc. They are prepping their register.

[BerenTebogo]

https://twitter.com/gMAKcrypto/statu...796061699?s=20

For Jefe. I threw $500 at $ID this morning. 3 days presale on Kyber before trading open. I think it's worth a punt.

[archibaldcrane]

Does bring up an interesting question, if you exchange 1 BTC for a Model 3, but return it within 3 days, but BTC has dropped 25% in that timeframe, are you refunded 1 BTC or 1.33333 BTC?

[Moridam]

bitcoin as payment for cars, lol. the scam economy is compounding at an alarming rate!

the bitcoin inclusion in the 10K release does seem to be working wonders to draw attention away from fresh news of their regulatory woes in china and massive delays in their EU plant construction. it's obvious they're not serious about accepting bitcoin for cars, but it gives them a convenient headline and a new avenue for lots of creative accounting, likely in preparation for their regulatory credit bonanza going away in the not so distant future.

[BerenTebogo]

Does this make any sense to anyone here?

(if you don't know what you are talking about feel free to not chime in)

My interpretation of this is that they are locking in a store of BTC at the current value as a vaulted liquidity pool.

Let's say Tesla gets an order for $10 million worth of Teslas to ship to the UAE or something and they want to pay in BTC (not as far-fetched as you might think). If they want to liquidate this BTC to USD instead of holding the profit in BTC they need to sell this BTC OTC and will have to pay a transaction fee. The transaction fee, paid in BTC, can be balanced on the books as having been paid from the vaulted BTC that they are using as liquidity for OTC sales, fees for sending, fees for exchanging between currencies, whatever.

That means that the 0.05 BTC or whatever the fee for the OTC sale is can go on the books as being 0.05*38,000, allowing the accounting to show that Tesla HQ have been paid in full by the purchaser of the 10m in Teslas. The fee for selling OTC is a fee that needs to be paid by Tesla as part of the reality of accepting BTC as payment. It can't be passed on to the customer without having a corresponding tax in USD or else it would be a deterrent to pay in BTC. If BTC goes up to 60k or 100k or whatever price as it continues to increase in value, the accounting will always show that the fee paid is 0.0N% * 38,000 (or whatever they really bought BTC at. Probably lower)

That's my interpretation at least.

Edit to Archi's second question: The refund would likely be paid out of the vaulted liquidity. This prevents Tesla from having any obligation to retain BTC used as payment, say if they want to sell it OTC immediately.

[Yabby]

Does bring up an interesting question, if you exchange 1 BTC for a Model 3, but return it within 3 days, but BTC has dropped 25% in that timeframe, are you refunded 1 BTC or 1.33333 BTC?

I would figure you would be exchanged the same amount of bitcoins as you paid because that is the currency you are dealing with. Just because another currency exchange rate changes, it doesn't change what you used. Kinda like if you paid 60k USD for a car and returned it, and the exchange rate for USD to Canadian dollars raised 10%, they need to refund you 66k now. They would laugh at you.

[kisada]

sath a couple questions:

are you still 3k into hxro?

also, you said defi bubble has a ways to go, what are your projections?

[BerenTebogo]

sath a couple questions:

are you still 3k into hxro?

also, you said defi bubble has a ways to go, what are your projections?

I'm not going to make projections because it'd just be talking out my ass. But I think some of the main projects can still do 2-3x or more if the bull run continues and there are plenty of projects that still have 10x-100x in them. I'm up 7x on a $500 investment from Friday in $XCUR.

And yes, for my DEX only shitcoins (based on current prices) I'm 3.3k into HXRO, 1.2k into HEGIC, 300 into zLOT, 3.5k into XCUR, 300 into STBZ, $500 into CTASK, and $500 into $ID.

My holdings in CEX are much larger and actively traded so idk wtf I have. Lots of SUSHI, AAVE, UMA, SNX, and LINK if nothing else.

[Zetanio]

TSLA disclosing it's BTC stake is absolutely hilarious. All of these "potential use cases" are basically just letting them sell BTC for a profit while also having their vault grow in value alongside. I wouldn't buy anything with a bitcoin, definitely not a fuckin car.

[kisada]

I'm not going to make projections because it'd just be talking out my ass. But I think some of the main projects can still do 2-3x or more if the bull run continues and there are plenty of projects that still have 10x-100x in them. I'm up 7x on a $500 investment from Friday in $XCUR.

And yes, for my DEX only shitcoins (based on current prices) I'm 3.3k into HXRO, 1.2k into HEGIC, 300 into zLOT, 3.5k into XCUR, 300 into STBZ, $500 into CTASK, and $500 into $ID.

My holdings in CEX are much larger and actively traded so idk wtf I have. Lots of SUSHI, AAVE, UMA, SNX, and LINK if nothing else.

ah i see, thanks for the reply. what are you using for your wallet? been looking into trezor/ledger hardware wallets but seeing some security issues with ledger.