Eluc on Nostr: I did the same long time ago with ETH and DAI. Put ETH in collateral to get DAI, ...
I did the same long time ago with ETH and DAI. Put ETH in collateral to get DAI, bought more ETH with DAI that I put back in the collateral. I was able to survive 50% price down. When it was 45% down, into panic, I send more ETH in the collateral, was able to withstand 60% down. Left a week on holiday, got liquidated at 62% price down which stay at this level for less than an hour then went back 20ish% up and never went back to this level ever again.
Learned the lesson, for long I would never talk about it again.
But now BTC is getting slightly less volatile (and much less than any shitcoin), might worth reconsider it, but not during a bullmarket, only after a deep bottom of a bear. The closer we are from ATH, the higher is the risk of a large correction, especially flash crash.
Published at
2024-12-20 21:31:04Event JSON
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"content": "I did the same long time ago with ETH and DAI. Put ETH in collateral to get DAI, bought more ETH with DAI that I put back in the collateral. I was able to survive 50% price down. When it was 45% down, into panic, I send more ETH in the collateral, was able to withstand 60% down. Left a week on holiday, got liquidated at 62% price down which stay at this level for less than an hour then went back 20ish% up and never went back to this level ever again.\nLearned the lesson, for long I would never talk about it again.\n\nBut now BTC is getting slightly less volatile (and much less than any shitcoin), might worth reconsider it, but not during a bullmarket, only after a deep bottom of a bear. The closer we are from ATH, the higher is the risk of a large correction, especially flash crash.",
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