@SonicBlastMan thank you for sharing.
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Great analysis here so far, I will change the title of this post to account for changing conditions as people seem to be finding this useful.
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All Firo pairs have 3x isolated margin. You can borrow Firo and sell it (well not now as there are too many borrowers at the moment) and thus short Firo. I think I am right on the account that withdrawals were temporarily shut down due to borrowed Firo. Right before opening withdrawals we saw a small pump around 9 am UTC. I am aware that it is conjecture but it has happened to other coins as well, that during a big dump withdrawals close and you are unable to borrow as everything has been lend out.
@Mohammad and @Gozar
Binance hasn’t updated their data for the past couple of days. So going through the market trades of these past couple of days is not possible unfortunately unless you use the api like Icicleman.
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You’re absolutely correct. I’m so used to shorting through futures instruments that I completely overlooked this option.
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I was just thinking the same thing. This seems like great way to short.
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Someone want to short FIRO here ?
Who ?
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No one here wants to short firo ( I assume). But if you wanted to short a shitcoin without the options to do so on binance it seems like a good way to do it.
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~600 masternode gone. Where is it?
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Most probably people sold them in profit.
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The network is still fully operational.
As Nrsimha pointed out, they most likely sold to take a profit, and we’ll probably see them slowly repopulate. Also as Gozar points out, the network and security from the masternodes is still operational. This was completely expected.
As discussed in the main channel on Telegram/Discord, masternodes and miners’ interests are rather inverse - which is good given the hybrid nature. When the market value falls, miners are more likely to leave a coin for profitability reasons - that’s to be expected. Masternodes, on the other hand, are less likely to do so. When the market value increases we will naturally see an influx of miners onboarding because of the increase in value and profitability, while we’re likely to see masternodes drop off as some individuals will sell at profit to either exit or buy back in. The incentives for masternodes to stay online are actually very similar to that of mining - as masternodes drop off, there are fewer masternodes to share the reward with and thus increasing the ROI on the remaining masternodes.
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I sold almost all my FIRO in the 5.x range, in hindsight too soon, but not complaining.
Huge spike in price without news, then I usually cash out and slowly get back in afterwards as things usually calm down in the next few days/weeks.
Exactly what I’m doing now, easing back into FIRO (mainly wainting for end of July (FED), I’m on the sideline for now) … unless it shoots back up soon I’ll end up with 3x the amount of masternodes I had before the spike.
Another upside of FIRO, you keep full access over your “staked” coins at all times … unlike others where there’s an unstaking period
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this is why i am against a wicked pump. Very fishy.
i would take price goes up slowly every single day rather than 1 day pump.
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Binance provided the following info:
Our team has tracked FIRO activities over a 4 hour period (during the alleged Pump) and also for a 2 day period.
However, the team didn’t observe any abnormalities.They also look into the Top 10 Transactors during this period. There were winners and losers in this group so no anomalies.
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I can’t help but wonder what exactly their definition of “abnormalities” is…?
There was more volume in the first 6 hours of the pump than the previous 2 months combined.
I would call that highly abnormal, but I guess our opinions differ.
Trading is always a zero-sum game, meaning one man’s gain is always another man’s loss.
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I think what they meant is among the top accounts transacting. That meant like losses were sustained by the big accounts too rather than a group of whales dumping on smaller peeps.
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Any chance for FIRO when eth merge?
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May help alittle bit, ETC will take most of the hashrate thoe - bitmain announced a big move over there. We will remain free of asic/fgpa
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If the price is good mining will be profitable.