HY

DavidNexus7

I don’t think people here quite understand how markets work in general. Crypto is essentially an amplified stock market. Its movements are more similar to the likes of the options markets. +/-10% in a day is common, it is not in broader markets like stocks, fx, etc. it represents the most risky and volatile investments you can make. There is alot of psychology in how markets move. When Macro issues arise and scare people they pull their risk and move it to safer assets. This means a drop in crypto, a drop in risky stock sectors, a drop in HY bond prices, etc. This does not mean crypto is a bad investment it’s the just the most risky, it has the most potential for gains, but it’s losses multiply faster as well. You need to understand this if you invest in crypto. You have to understand the broader economies and macro level issues will drag down all prices in all markets, it doesn’t make a difference, but the riskiest assets decline first.

DavidNexus7

I started moving money into a USDC T+1 Defi Farm, it’s offering ~18% APY versus 1% from a HY Savings Account. Whats the point of an emergency fund if It’s shrinking constantly due to rampant inflation.

Beriberi_Cheerios

Hybrix, $HY. Cross ledger asset, eliminating the need to have wallets and native asset on each chain. Weekly development releases and the development team continues to work under the radar, avoiding strong marketing until the product matures further. Swap, allocation, and wallet are all functional, though still low liquidity during trials. Been in for 9 months now and excited to see what’s to come. All time High is ~8x above current price, which came with a marketing event gone wrong. But it shows it could easily move 10x in a heartbeat, and 100x isn’t out of the question.

PleasantFlow1597

Top 5 cryptocurrency: https://youtu.be/ocGHTUHy6HY

blueberrytassels

https://giphy.com/gifs/wu-tang-HY9NjB5u0CSOY

ArchiMode25

When you first set up the hardware wallet you should first send some funds to the wallet, something small like $1, then wipe the device and test your seed phrase by restoring it. That will give you some peace of mind knowing you set everything up correctly. When you correctly input the seed it will be done with the hardware wallet. This looks a little different for each Trezor One, Model T or Ledger Nano. With the Trezor One, you will use a combo of the Device and your PC the device is connected to. Like when you input your PIN to open your Trezor wallet. It shows the numbers on the device and you correspond the numbers to the blank 9 box that pops up on your PC. You won't be typing words on your PC if you have a 24 word seed I believe. You might with a 12 word seed. 24 word is better. On a Model T you will use the touch screen on the device to input the seed phrase. [Here is a little info from Trezor](https://blog.trezor.io/learn-about-trezor-recovery-seed-offline-backup-fe235873c69f) [Here is a vid with Trezor T](https://youtu.be/x7HY1CQ9K8A) [Vid for Trezor One](https://youtu.be/lyi7-rl6wfI)

Beriberi_Cheerios

I’ve shilled it before and I’ll shill it again. Hybrix (HY) has built a functional multi-ledger asset that allows you to move across blockchains under one single unified token. Want to take ETH and make it BCH without going through expensive gyrations - then try HY. It’s still in beta testing and there are new releases and bug fixes every single Friday. I’m bullish on this - it was over $12 at its peak in the spring and that was before the web wallet and allocations were online. Holding high hopes for this one.

Beriberi_Cheerios

Hybrix (HY). It’s still under the radar but is a multi-ledger token that allows you to easily move across 30+ blockchains. It is my long shot but I have been holding for longer than any other token.

Beriberi_Cheerios

I’ve been accumulating HY for a while now and I’ve been amazed by the weekly development releases, access to the dev team, and the concept in general. A multi-ledger asset that can allow you to easily move across chains. No more high gas fees for conversions, no more swaps getting lost with the wrong contract type. Looking forward to the future of HY and the multitude of chains it supports now and in the future.

90DayF


branqr

Update: I don’t have enough Karma to post, can someone help! I keep seeing people post about Evergrande making interest payments on time and that the world is good again. I used to work on a bulge bracket Asia HY bond desk and this is not the case. Twitter and the Media is missing the full picture and no one has pointed it out yet. 👇 We aren’t fully out of the woods. There is a difference between onshore (denominated in CNY) and offshore bonds (USD). Evergrande has offshore coupon denominated in USD due Sep 23 and have yet to make an announcement on those. Given a choice, they would pay onshore first. Should they decide not to pay USD, this will hurt global investors regardless. That said, there is still a 30-day grace period so it’s not end of the world, even if they don’t. The CCP won’t directly step in but they will save the house buyers in the case of a default (so they don’t see any protesting etc). SOE banks will be the first to get screwed and majority of loans/commercial papers are to them. The scary part is that we’re not too sure how many of these guys re-levered this debt into other instruments so there may be ticking bombs all around. Ultimately, the nearest USD coupon that is due is on Sept 23rd (Thursday), roughly equating to US$100m in interest. Sure, you may meet that interest but the company still has $300bn of principal coupon worth to pay. Personally, I see a few routes moving forward but one needs to look at the debt structure (1). horizontally (time-based) and (2). vertically (who and what type of debt do they hold) to see a better picture. Horizontally: - Sept 23, $83mio in interest due - Sept 29, $45mio in interest due - Oct 11, $~160mio in interest due - Nov 6, $80mio in interest due - Dec 28, $250mio in interest due Vertically: - 54% of its $300bn are in secured borrowings - 2% are convertible bonds (lower pecking order) - 21% are senior notes (this is mostly held by UHNW individuals and big funds/banks) - 6% PRC bonds (local onshore denominated debt) - 17% Unsecured direct bank borrowings (mostly to SOE banks) That said, my gutfeel is that the CCP will go in indirectly via the SOE banks taking the brunt of the hurt; they’ll likely working their butts off now with some meeting of sort with all EVERRE’s biggest debt/equity backers. The key players in this game are: [In order of importance to the CCP]. 1. People who bought homes (they will be taken care off first) 2. Suppliers and construction companies contracted (perhaps this may be next) 3. Public debt holders (UHNW/Funds/Banks) – the key people here are the funds/banks 4. SOE banks who provided direct loans (govt backed anyways) 5. Equity holders. My guess at the end: some SOE banks come in with some package to save certain pieces of the above pie. Perhaps the CEO/management team gets reprimanded strongly? Either ways, this is the largest elephant in the room now and the Crypto market is worried of the repercussions and quakes that we could feel from this fallout. That said... enough about Evergrande, Crypto is dealing with its own troubles. Messari's Mainnet event got hijacked by a SEC subpoena, Mr Gensler called stablecoins 'poker chips' (we get it), and Binance derivatives service got clamped down in Australia. On-chain data wise: During the dip, BTC's LTH-SOPR (1.26) vs STH-SOPR (0.97) indicated short-term holders (speculators, swing-traders, etc.) sold into losses, while long-term holders took profit. Regardless, the stablecoin supply ratio fell, and the exchange reserves of BTC is nearing a six-month low. This suggest traders are flushed with cash, but whether they are willing to step in (presumably on long leverage positions) is another question. For the second day, BTC Long liquidation also indicated a sharp up spike relative to the past 12 days while the estimated leverage ratio hovered at the mid-point (relative to the past two weeks), suggesting a very risk-off environment. In derivatives: BTC and ETH option contract open interest held constant while traders adopted a wait-and-see approach to prices. Options skew indicators reflect a different story: 25% delta skew (Volatility premium for puts to calls), a significant jump, reflecting a high belief among option traders that further downward movement is imminent. Coin days destroyed also show that the move was mostly driven by short-term traders. Personally, I like to fade such event-driven markets (but only post FOMC). Just note that conditions are primed such that if we get very positive news, people are flushed with cash for a jolt back to risk. A gentle nudge to also remember just how short-term market participant thinks, and that one only needs to look just over the ridge to stay ahead. IMO, the Evergrande fiasco is starting to look more like a very controlled detonation by the CCP - even if their offshore entity defaults (after the 30-day grace period), it won’t trigger a cross-default to its onshore entity. Finally… I actually took Gary Gensler Washington Post interview early this morning to be bullish for Crypto long term. We certainly need certain aspects of the market to be reined in to progress further. Have a good one! - @mytwogweis, see my latest thoughts on the Telegram channel “Treehouse Finance Insights”

branqr

Update: I don’t have enough Karma to post, can someone help! I keep seeing people post about Evergrande making interest payments on time and that the world is good again. I used to work on a bulge bracket Asia HY bond desk and this is not the case. Twitter and the Media is missing the full picture and no one has pointed it out yet. 👇 We aren’t fully out of the woods. There is a difference between onshore (denominated in CNY) and offshore bonds (USD). Evergrande has offshore coupon denominated in USD due Sep 23 and have yet to make an announcement on those. Given a choice, they would pay onshore first. Should they decide not to pay USD, this will hurt global investors regardless. That said, there is still a 30-day grace period so it’s not end of the world, even if they don’t. The CCP won’t directly step in but they will save the house buyers in the case of a default (so they don’t see any protesting etc). SOE banks will be the first to get screwed and majority of loans/commercial papers are to them. The scary part is that we’re not too sure how many of these guys re-levered this debt into other instruments so there may be ticking bombs all around. Ultimately, the nearest USD coupon that is due is on Sept 23rd (Thursday), roughly equating to US$100m in interest. Sure, you may meet that interest but the company still has $300bn of principal coupon worth to pay. Personally, I see a few routes moving forward but one needs to look at the debt structure (1). horizontally (time-based) and (2). vertically (who and what type of debt do they hold) to see a better picture. Horizontally: - Sept 23, $83mio in interest due - Sept 29, $45mio in interest due - Oct 11, $~160mio in interest due - Nov 6, $80mio in interest due - Dec 28, $250mio in interest due Vertically: - 54% of its $300bn are in secured borrowings - 2% are convertible bonds (lower pecking order) - 21% are senior notes (this is mostly held by UHNW individuals and big funds/banks) - 6% PRC bonds (local onshore denominated debt) - 17% Unsecured direct bank borrowings (mostly to SOE banks) That said, my gutfeel is that the CCP will go in indirectly via the SOE banks taking the brunt of the hurt; they’ll likely working their butts off now with some meeting of sort with all EVERRE’s biggest debt/equity backers. The key players in this game are: [In order of importance to the CCP]. 1. People who bought homes (they will be taken care off first) 2. Suppliers and construction companies contracted (perhaps this may be next) 3. Public debt holders (UHNW/Funds/Banks) – the key people here are the funds/banks 4. SOE banks who provided direct loans (govt backed anyways) 5. Equity holders. My guess at the end: some SOE banks come in with some package to save certain pieces of the above pie. Perhaps the CEO/management team gets reprimanded strongly? Either ways, this is the largest elephant in the room now and the Crypto market is worried of the repercussions and quakes that we could feel from this fallout. That said... enough about Evergrande, Crypto is dealing with its own troubles. Messari's Mainnet event got hijacked by a SEC subpoena, Mr Gensler called stablecoins 'poker chips' (we get it), and Binance derivatives service got clamped down in Australia. On-chain data wise: During the dip, BTC's LTH-SOPR (1.26) vs STH-SOPR (0.97) indicated short-term holders (speculators, swing-traders, etc.) sold into losses, while long-term holders took profit. Regardless, the stablecoin supply ratio fell, and the exchange reserves of BTC is nearing a six-month low. This suggest traders are flushed with cash, but whether they are willing to step in (presumably on long leverage positions) is another question. For the second day, BTC Long liquidation also indicated a sharp up spike relative to the past 12 days while the estimated leverage ratio hovered at the mid-point (relative to the past two weeks), suggesting a very risk-off environment. In derivatives: BTC and ETH option contract open interest held constant while traders adopted a wait-and-see approach to prices. Options skew indicators reflect a different story: 25% delta skew (Volatility premium for puts to calls), a significant jump, reflecting a high belief among option traders that further downward movement is imminent. Coin days destroyed also show that the move was mostly driven by short-term traders. Personally, I like to fade such event-driven markets (but only post FOMC). Just note that conditions are primed such that if we get very positive news, people are flushed with cash for a jolt back to risk. A gentle nudge to also remember just how short-term market participant thinks, and that one only needs to look just over the ridge to stay ahead. IMO, the Evergrande fiasco is starting to look more like a very controlled detonation by the CCP - even if their offshore entity defaults (after the 30-day grace period), it won’t trigger a cross-default to its onshore entity. Finally… I actually took Gary Gensler Washington Post interview early this morning to be bullish for Crypto long term. We certainly need certain aspects of the market to be reined in to progress further. Have a good one! - @mytwogweis, see my latest thoughts on the Telegram channel “Treehouse Finance Insights”

branqr

Update: I don’t have enough Karma to post, can someone help! I keep seeing people post about Evergrande making interest payments on time and that the world is good again. I used to work on a bulge bracket Asia HY bond desk and this is not the case. Twitter and the Media is missing the full picture and no one has pointed it out yet. 👇 We aren’t fully out of the woods. There is a difference between onshore (denominated in CNY) and offshore bonds (USD). Evergrande has offshore coupon denominated in USD due Sep 23 and have yet to make an announcement on those. Given a choice, they would pay onshore first. Should they decide not to pay USD, this will hurt global investors regardless. That said, there is still a 30-day grace period so it’s not end of the world, even if they don’t. The CCP won’t directly step in but they will save the house buyers in the case of a default (so they don’t see any protesting etc). SOE banks will be the first to get screwed and majority of loans/commercial papers are to them. The scary part is that we’re not too sure how many of these guys re-levered this debt into other instruments so there may be ticking bombs all around. Ultimately, the nearest USD coupon that is due is on Sept 23rd (Thursday), roughly equating to US$100m in interest. Sure, you may meet that interest but the company still has $300bn of principal coupon worth to pay. Personally, I see a few routes moving forward but one needs to look at the debt structure (1). horizontally (time-based) and (2). vertically (who and what type of debt do they hold) to see a better picture. Horizontally: - Sept 23, $83mio in interest due - Sept 29, $45mio in interest due - Oct 11, $~160mio in interest due - Nov 6, $80mio in interest due - Dec 28, $250mio in interest due Vertically: - 54% of its $300bn are in secured borrowings - 2% are convertible bonds (lower pecking order) - 21% are senior notes (this is mostly held by UHNW individuals and big funds/banks) - 6% PRC bonds (local onshore denominated debt) - 17% Unsecured direct bank borrowings (mostly to SOE banks) That said, my gutfeel is that the CCP will go in indirectly via the SOE banks taking the brunt of the hurt; they’ll likely working their butts off now with some meeting of sort with all EVERRE’s biggest debt/equity backers. The key players in this game are: [In order of importance to the CCP]. 1. People who bought homes (they will be taken care off first) 2. Suppliers and construction companies contracted (perhaps this may be next) 3. Public debt holders (UHNW/Funds/Banks) – the key people here are the funds/banks 4. SOE banks who provided direct loans (govt backed anyways) 5. Equity holders. My guess at the end: some SOE banks come in with some package to save certain pieces of the above pie. Perhaps the CEO/management team gets reprimanded strongly? Either ways, this is the largest elephant in the room now and the Crypto market is worried of the repercussions and quakes that we could feel from this fallout. That said... enough about Evergrande, Crypto is dealing with its own troubles. Messari's Mainnet event got hijacked by a SEC subpoena, Mr Gensler called stablecoins 'poker chips' (we get it), and Binance derivatives service got clamped down in Australia. On-chain data wise: During the dip, BTC's LTH-SOPR (1.26) vs STH-SOPR (0.97) indicated short-term holders (speculators, swing-traders, etc.) sold into losses, while long-term holders took profit. Regardless, the stablecoin supply ratio fell, and the exchange reserves of BTC is nearing a six-month low. This suggest traders are flushed with cash, but whether they are willing to step in (presumably on long leverage positions) is another question. For the second day, BTC Long liquidation also indicated a sharp up spike relative to the past 12 days while the estimated leverage ratio hovered at the mid-point (relative to the past two weeks), suggesting a very risk-off environment. In derivatives: BTC and ETH option contract open interest held constant while traders adopted a wait-and-see approach to prices. Options skew indicators reflect a different story: 25% delta skew (Volatility premium for puts to calls), a significant jump, reflecting a high belief among option traders that further downward movement is imminent. Coin days destroyed also show that the move was mostly driven by short-term traders. Personally, I like to fade such event-driven markets (but only post FOMC). Just note that conditions are primed such that if we get very positive news, people are flushed with cash for a jolt back to risk. A gentle nudge to also remember just how short-term market participant thinks, and that one only needs to look just over the ridge to stay ahead. IMO, the Evergrande fiasco is starting to look more like a very controlled detonation by the CCP - even if their offshore entity defaults (after the 30-day grace period), it won’t trigger a cross-default to its onshore entity. Finally… I actually took Gary Gensler Washington Post interview early this morning to be bullish for Crypto long term. We certainly need certain aspects of the market to be reined in to progress further. Have a good one! - @mytwogweis, see my latest thoughts on the Telegram channel “Treehouse Finance Insights”

branqr

Update: My post keeps getting taken down as I don’t have enough Karma lol, someone help! I keep seeing people post about Evergrande making interest payments on time and that the world is good again. I used to work on a bulge bracket Asia HY bond desk and this is not the case. Twitter and the Media is missing the full picture and no one has pointed it out yet. 👇 We aren’t fully out of the woods. There is a difference between onshore (denominated in CNY) and offshore bonds (USD). Evergrande has offshore coupon denominated in USD due Sep 23 and have yet to make an announcement on those. Given a choice, they would pay onshore first. Should they decide not to pay USD, this will hurt global investors regardless. That said, there is still a 30-day grace period so it’s not end of the world, even if they don’t. The CCP won’t directly step in but they will save the house buyers in the case of a default (so they don’t see any protesting etc). SOE banks will be the first to get screwed and majority of loans/commercial papers are to them. The scary part is that we’re not too sure how many of these guys re-levered this debt into other instruments so there may be ticking bombs all around. Ultimately, the nearest USD coupon that is due is on Sept 23rd (Thursday), roughly equating to US$100m in interest. Sure, you may meet that interest but the company still has $300bn of principal coupon worth to pay. Personally, I see a few routes moving forward but one needs to look at the debt structure (1). horizontally (time-based) and (2). vertically (who and what type of debt do they hold) to see a better picture. Horizontally: - Sept 23, $83mio in interest due - Sept 29, $45mio in interest due - Oct 11, $~160mio in interest due - Nov 6, $80mio in interest due - Dec 28, $250mio in interest due Vertically: - 54% of its $300bn are in secured borrowings - 2% are convertible bonds (lower pecking order) - 21% are senior notes (this is mostly held by UHNW individuals and big funds/banks) - 6% PRC bonds (local onshore denominated debt) - 17% Unsecured direct bank borrowings (mostly to SOE banks) That said, my gutfeel is that the CCP will go in indirectly via the SOE banks taking the brunt of the hurt; they’ll likely working their butts off now with some meeting of sort with all EVERRE’s biggest debt/equity backers. The key players in this game are: [In order of importance to the CCP]. 1. People who bought homes (they will be taken care off first) 2. Suppliers and construction companies contracted (perhaps this may be next) 3. Public debt holders (UHNW/Funds/Banks) – the key people here are the funds/banks 4. SOE banks who provided direct loans (govt backed anyways) 5. Equity holders. My guess at the end: some SOE banks come in with some package to save certain pieces of the above pie. Perhaps the CEO/management team gets reprimanded strongly? Either ways, this is the largest elephant in the room now and the Crypto market is worried of the repercussions and quakes that we could feel from this fallout. That said... enough about Evergrande, Crypto is dealing with its own troubles. Messari's Mainnet event got hijacked by a SEC subpoena, Mr Gensler called stablecoins 'poker chips' (we get it), and Binance derivatives service got clamped down in Australia. On-chain data wise: During the dip, BTC's LTH-SOPR (1.26) vs STH-SOPR (0.97) indicated short-term holders (speculators, swing-traders, etc.) sold into losses, while long-term holders took profit. Regardless, the stablecoin supply ratio fell, and the exchange reserves of BTC is nearing a six-month low. This suggest traders are flushed with cash, but whether they are willing to step in (presumably on long leverage positions) is another question. For the second day, BTC Long liquidation also indicated a sharp up spike relative to the past 12 days while the estimated leverage ratio hovered at the mid-point (relative to the past two weeks), suggesting a very risk-off environment. In derivatives: BTC and ETH option contract open interest held constant while traders adopted a wait-and-see approach to prices. Options skew indicators reflect a different story: 25% delta skew (Volatility premium for puts to calls), a significant jump, reflecting a high belief among option traders that further downward movement is imminent. Coin days destroyed also show that the move was mostly driven by short-term traders. Personally, I like to fade such event-driven markets (but only post FOMC). Just note that conditions are primed such that if we get very positive news, people are flushed with cash for a jolt back to risk. A gentle nudge to also remember just how short-term market participant thinks, and that one only needs to look just over the ridge to stay ahead. IMO, the Evergrande fiasco is starting to look more like a very controlled detonation by the CCP - even if their offshore entity defaults (after the 30-day grace period), it won’t trigger a cross-default to its onshore entity. Finally… I actually took Gary Gensler Washington Post interview early this morning to be bullish for Crypto long term. We certainly need certain aspects of the market to be reined in to progress further. Have a good one! - @mytwogweis, see my latest thoughts on the Telegram channel “Treehouse Finance Insights”

branqr

Update: My post keeps getting taken down, can someone help share? I keep seeing people post about Evergrande making interest payments on time and that the world is good again. I used to work on a bulge bracket Asia HY bond desk and this is not the case. Twitter and the Media is missing the full picture and no one has pointed it out yet. 👇 We aren’t fully out of the woods. There is a difference between onshore (denominated in CNY) and offshore bonds (USD). Evergrande has offshore coupon denominated in USD due Sep 23 and have yet to make an announcement on those. Given a choice, they would pay onshore first. Should they decide not to pay USD, this will hurt global investors regardless. That said, there is still a 30-day grace period so it’s not end of the world, even if they don’t. The CCP won’t directly step in but they will save the house buyers in the case of a default (so they don’t see any protesting etc). SOE banks will be the first to get screwed and majority of loans/commercial papers are to them. The scary part is that we’re not too sure how many of these guys re-levered this debt into other instruments so there may be ticking bombs all around. Ultimately, the nearest USD coupon that is due is on Sept 23rd (Thursday), roughly equating to US$100m in interest. Sure, you may meet that interest but the company still has $300bn of principal coupon worth to pay. Personally, I see a few routes moving forward but one needs to look at the debt structure (1). horizontally (time-based) and (2). vertically (who and what type of debt do they hold) to see a better picture. Horizontally: - Sept 23, $83mio in interest due - Sept 29, $45mio in interest due - Oct 11, $~160mio in interest due - Nov 6, $80mio in interest due - Dec 28, $250mio in interest due Vertically: - 54% of its $300bn are in secured borrowings - 2% are convertible bonds (lower pecking order) - 21% are senior notes (this is mostly held by UHNW individuals and big funds/banks) - 6% PRC bonds (local onshore denominated debt) - 17% Unsecured direct bank borrowings (mostly to SOE banks) That said, my gutfeel is that the CCP will go in indirectly via the SOE banks taking the brunt of the hurt; they’ll likely working their butts off now with some meeting of sort with all EVERRE’s biggest debt/equity backers. The key players in this game are: [In order of importance to the CCP]. 1. People who bought homes (they will be taken care off first) 2. Suppliers and construction companies contracted (perhaps this may be next) 3. Public debt holders (UHNW/Funds/Banks) – the key people here are the funds/banks 4. SOE banks who provided direct loans (govt backed anyways) 5. Equity holders. My guess at the end: some SOE banks come in with some package to save certain pieces of the above pie. Perhaps the CEO/management team gets reprimanded strongly? Either ways, this is the largest elephant in the room now and the Crypto market is worried of the repercussions and quakes that we could feel from this fallout. That said... enough about Evergrande, Crypto is dealing with its own troubles. Messari's Mainnet event got hijacked by a SEC subpoena, Mr Gensler called stablecoins 'poker chips' (we get it), and Binance derivatives service got clamped down in Australia. On-chain data wise: During the dip, BTC's LTH-SOPR (1.26) vs STH-SOPR (0.97) indicated short-term holders (speculators, swing-traders, etc.) sold into losses, while long-term holders took profit. Regardless, the stablecoin supply ratio fell, and the exchange reserves of BTC is nearing a six-month low. This suggest traders are flushed with cash, but whether they are willing to step in (presumably on long leverage positions) is another question. For the second day, BTC Long liquidation also indicated a sharp up spike relative to the past 12 days while the estimated leverage ratio hovered at the mid-point (relative to the past two weeks), suggesting a very risk-off environment. In derivatives: BTC and ETH option contract open interest held constant while traders adopted a wait-and-see approach to prices. Options skew indicators reflect a different story: 25% delta skew (Volatility premium for puts to calls), a significant jump, reflecting a high belief among option traders that further downward movement is imminent. Coin days destroyed also show that the move was mostly driven by short-term traders. Personally, I like to fade such event-driven markets (but only post FOMC). Just note that conditions are primed such that if we get very positive news, people are flushed with cash for a jolt back to risk. A gentle nudge to also remember just how short-term market participant thinks, and that one only needs to look just over the ridge to stay ahead. IMO, the Evergrande fiasco is starting to look more like a very controlled detonation by the CCP - even if their offshore entity defaults (after the 30-day grace period), it won’t trigger a cross-default to its onshore entity. Finally… I actually took Gary Gensler Washington Post interview early this morning to be bullish for Crypto long term. We certainly need certain aspects of the market to be reined in to progress further. Have a good one! - @mytwogweis, see my latest thoughts on the Telegram channel “Treehouse Finance Insights”

branqr

I keep seeing people post about Evergrande making interest payments on time and that the world is good again. I used to work on a bulge bracket Asia HY bond desk and this is not the case. Twitter and the Media is missing the full picture and no one has pointed it out yet. 👇 We aren’t fully out of the woods. There is a different between onshore (denominated in CNY) and offshore bonds (USD). Evergrande has offshore coupon denominated in USD due Sep 23 and have yet to make an announcement on those. Given a choice, they would pay onshore first. Should they decide not to pay USD, this will hurt global investors regardless. That said, there is still a 30-day grace period so it’s not end of the world, even if they don’t. The CCP won’t directly step in but they will save the house buyers in the case of a default (so they don’t see any protesting etc). SOE banks will be the first to get screwed and majority of loans/commercial papers are to them. The scary part is that we’re not too sure how many of these guys re-levered this debt into other instruments so there may be ticking bombs all around. Ultimately, the nearest USD coupon that is due is on Sept 23rd (Thursday), roughly equating to US$100m in interest. Sure, you may meet that interest but the company still has $300bn of principal coupon worth to pay. Personally, I see a few routes moving forward but one needs to look at the debt structure (1). horizontally (time-based) and (2). vertically (who and what type of debt do they hold) to see a better picture. Horizontally: - Sept 23, $83mio in interest due - Sept 29, $45mio in interest due - Oct 11, $~160mio in interest due - Nov 6, $80mio in interest due - Dec 28, $250mio in interest due Vertically: - 54% of its $300bn are in secured borrowings - 2% are convertible bonds (lower pecking order) - 21% are senior notes (this is mostly held by UHNW individuals and big funds/banks) - 6% PRC bonds (local onshore denominated debt) - 17% Unsecured direct bank borrowings (mostly to SOE banks) That said, my gutfeel is that the CCP will go in indirectly via the SOE banks taking the brunt of the hurt; they’ll likely working their butts off now with some meeting of sort with all EVERRE’s biggest debt/equity backers. The key players in this game are: [In order of importance to the CCP]. 1. People who bought homes (they will be taken care off first) 2. Suppliers and construction companies contracted (perhaps this may be next) 3. Public debt holders (UHNW/Funds/Banks) – the key people here are the funds/banks 4. SOE banks who provided direct loans (govt backed anyways) 5. Equity holders. My guess at the end: some SOE banks come in with some package to save certain pieces of the above pie. Perhaps the CEO/management team gets reprimanded strongly? Either ways, this is the largest elephant in the room now and the Crypto market is worried of the repercussions and quakes that we could feel from this fallout. That said... enough about Evergrande, Crypto is dealing with its own troubles. Messari's Mainnet event got hijacked by a SEC subpoena, Mr Gensler called stablecoins 'poker chips' (we get it), and Binance derivatives service got clamped down in Australia. On-chain data wise: During the dip, BTC's LTH-SOPR (1.26) vs STH-SOPR (0.97) indicated short-term holders (speculators, swing-traders, etc.) sold into losses, while long-term holders took profit. Regardless, the stablecoin supply ratio fell, and the exchange reserves of BTC is nearing a six-month low. This suggest traders are flushed with cash, but whether they are willing to step in (presumably on long leverage positions) is another question. For the second day, BTC Long liquidation also indicated a sharp up spike relative to the past 12 days while the estimated leverage ratio hovered at the mid-point (relative to the past two weeks), suggesting a very risk-off environment. In derivatives: BTC and ETH option contract open interest held constant while traders adopted a wait-and-see approach to prices. Options skew indicators reflect a different story: 25% delta skew (Volatility premium for puts to calls), a significant jump, reflecting a high belief among option traders that further downward movement is imminent. Coin days destroyed also show that the move was mostly driven by short-term traders. Personally, I like to fade such event-driven markets (but only post FOMC). Just note that conditions are primed such that if we get very positive news, people are flushed with cash for a jolt back to risk. A gentle nudge to also remember just how short-term market participant thinks, and that one only needs to look just over the ridge to stay ahead. IMO, the Evergrande fiasco is starting to look more like a very controlled detonation by the CCP - even if their offshore entity defaults (after the 30-day grace period), it won’t trigger a cross-default to its onshore entity. Finally… I actually took Gary Gensler Washington Post interview early this morning to be bullish for Crypto long term. We certainly need certain aspects of the market to be reined in to progress further. Have a good one! - @mytwogweis, see my latest thoughts on the Telegram channel “Treehouse Finance Insights”

branqr

I keep seeing people post about Evergrande making interest payments on time and that the world is good again. I used to work on a bulge bracket Asia HY bond desk and this is not the case. Twitter and the Media is missing the full picture and no one has pointed it out yet. 👇 We aren’t fully out of the woods. There is a different between onshore (denominated in CNY) and offshore bonds (USD). Evergrande has offshore coupon denominated in USD due Sep 23 and have yet to make an announcement on those. Given a choice, they would pay onshore first. Should they decide not to pay USD, this will hurt global investors regardless. That said, there is still a 30-day grace period so it’s not end of the world, even if they don’t. The CCP won’t directly step in but they will save the house buyers in the case of a default (so they don’t see any protesting etc). SOE banks will be the first to get screwed and majority of loans/commercial papers are to them. The scary part is that we’re not too sure how many of these guys re-levered this debt into other instruments so there may be ticking bombs all around. Ultimately, the nearest USD coupon that is due is on Sept 23rd (Thursday), roughly equating to US$100m in interest. Sure, you may meet that interest but the company still has $300bn of principal coupon worth to pay. Personally, I see a few routes moving forward but one needs to look at the debt structure (1). horizontally (time-based) and (2). vertically (who and what type of debt do they hold) to see a better picture. Horizontally: - Sept 23, $83mio in interest due - Sept 29, $45mio in interest due - Oct 11, $~160mio in interest due - Nov 6, $80mio in interest due - Dec 28, $250mio in interest due Vertically: - 54% of its $300bn are in secured borrowings - 2% are convertible bonds (lower pecking order) - 21% are senior notes (this is mostly held by UHNW individuals and big funds/banks) - 6% PRC bonds (local onshore denominated debt) - 17% Unsecured direct bank borrowings (mostly to SOE banks) That said, my gutfeel is that the CCP will go in indirectly via the SOE banks taking the brunt of the hurt; they’ll likely working their butts off now with some meeting of sort with all EVERRE’s biggest debt/equity backers. The key players in this game are: [In order of importance to the CCP]. 1. People who bought homes (they will be taken care off first) 2. Suppliers and construction companies contracted (perhaps this may be next) 3. Public debt holders (UHNW/Funds/Banks) – the key people here are the funds/banks 4. SOE banks who provided direct loans (govt backed anyways) 5. Equity holders. My guess at the end: some SOE banks come in with some package to save certain pieces of the above pie. Perhaps the CEO/management team gets reprimanded strongly? Either ways, this is the largest elephant in the room now and the Crypto market is worried of the repercussions and quakes that we could feel from this fallout. That said... enough about Evergrande, Crypto is dealing with its own troubles. Messari's Mainnet event got hijacked by a SEC subpoena, Mr Gensler called stablecoins 'poker chips' (we get it), and Binance derivatives service got clamped down in Australia. On-chain data wise: During the dip, BTC's LTH-SOPR (1.26) vs STH-SOPR (0.97) indicated short-term holders (speculators, swing-traders, etc.) sold into losses, while long-term holders took profit. Regardless, the stablecoin supply ratio fell, and the exchange reserves of BTC is nearing a six-month low. This suggest traders are flushed with cash, but whether they are willing to step in (presumably on long leverage positions) is another question. For the second day, BTC Long liquidation also indicated a sharp up spike relative to the past 12 days while the estimated leverage ratio hovered at the mid-point (relative to the past two weeks), suggesting a very risk-off environment. In derivatives: BTC and ETH option contract open interest held constant while traders adopted a wait-and-see approach to prices. Options skew indicators reflect a different story: 25% delta skew (Volatility premium for puts to calls), a significant jump, reflecting a high belief among option traders that further downward movement is imminent. Coin days destroyed also show that the move was mostly driven by short-term traders. Personally, I like to fade such event-driven markets (but only post FOMC). Just note that conditions are primed such that if we get very positive news, people are flushed with cash for a jolt back to risk. A gentle nudge to also remember just how short-term market participant thinks, and that one only needs to look just over the ridge to stay ahead. IMO, the Evergrande fiasco is starting to look more like a very controlled detonation by the CCP - even if their offshore entity defaults (after the 30-day grace period), it won’t trigger a cross-default to its onshore entity. Finally… I actually took Gary Gensler Washington Post interview early this morning to be bullish for Crypto long term. We certainly need certain aspects of the market to be reined in to progress further. Have a good one! - @mytwogweis, see my latest thoughts on the Telegram channel “Treehouse Finance Insights”

Beriberi_Cheerios

Hybrix (HY). Cross ledger asset, allows you to work across chains easily and cheaply. Been following them for a while now and they are pumping out new updates every week. Already integrated across 30+ assets. They have been quiet on marketing until they feel they have it working just right. You can already use it and they have a non-custodial wallet and command line interface for trades and liquidity. I’m really hoping this one takes off, its a neat project with a great dev team.

Purple-Law-1081


keum5

[Here you have a few to choose](https://link.medium.com/u9HY1ocOXib)

qnSpectrum

Made an account...amazed to see such people who spread awareness about unique projects. NCBYOEVBNXVJDBG44TODDQKJAP7HY4IZTLJLHNJXUP4W5YJK6OUSEOMT3Q Assets added...

F0xxenz

https://www.youtube.com/watch?v=x7HY1CQ9K8A

Captainwelfare2

No this is 

MONGSTRADAMUS

emergency fund in a HY savings account I think is still important fdic insurance , at least in the US, is still a pretty big thing.

coinfeeds-bot

tldr; Greg Foss, a 3 decade veteran of fixed income securities specialising in HY (High Yield) joins me to talk about debt, bonds, government debt and why Bitcoin is the answer. Greg Foss: Could govt repudiate the debt? Could we outgrow it? *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

WikiSummarizerBot

**[Friedrich_Hayek](https://en.wikipedia.org/wiki/Friedrich_Hayek)** >Friedrich August von Hayek ( HY-ək, German: [ˈfʁiːdʁɪç ˈʔaʊɡʊst ˈhaɪɛk] (listen); 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian-British economist and philosopher who is best known for his defence of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his work on economics. His account of how changing prices communicate information that helps individuals coordinate their plans is widely regarded as an important achievement in economics, leading to his prize. **[Ludwig_von_Mises](https://en.wikipedia.org/wiki/Ludwig_von_Mises)** >Ludwig Heinrich Edler von Mises (German: [ˈluːtvɪç fɔn ˈmiːzəs]; 29 September 1881 – 10 October 1973) was an Austrian School economist, historian, logician, and sociologist. Mises wrote and lectured extensively on the societal contributions of classical liberalism. He is best known for his work on praxeology, a study of human choice and action. Mises emigrated from Austria to the United States in 1940. **[Milton_Friedman](https://en.wikipedia.org/wiki/Milton_Friedman)** >Milton Friedman ( (listen); July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/CryptoCurrency/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | v1.5)

KevinTh89

But, but, I only just got Premium ! 

Beriberi_Cheerios

Hybrix - HY. Cross-ledger unified token. Has hybrids sitting on most networks, still in Beta testing. It's my guilty altcoin pleasure (and my only one still sitting around my buy-in price today).

PartOfTheTribe

I’m generally interested in this discussion - I’m yet to see a comparison that breaks down USDC, DAI and Tether w/o any bias. People here talk about audit and it’s a 13x person company. I know hedge funds that have about the same at scale. You don’t need 50+ people w a counting machine in the back to manage 60bn. Why do we think it will implode if it didn’t 6mths to 1yr? What will an audit of a crypto company do for you? These are questions I’m deeply interested in learning. I have no problem repositioning my Tether positions into something else if there’s a real argument to be made. Disclaimer - I hold Dai, DC and Tether for HY Farming and LP pairs…

Ndivided132

 Hopefully the dumb bears can’t find us here 🤐🤫

coinfeeds-bot

tldr; Hybrix is open-source, non-profit and inclusive by design. The Hybrix hydra token ($HY) is a unified asset. It has token representations on several chains that are connected and unified into one asset. The HY token smart contract on Binance Smart Chain is designed to redistribute 3% of its value on every transaction.{} *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Gridjump

Hybrix -HY It's a token that exists on multiple chains with a wallet system that allows you for example to swap BSC Hybrix tokens to ERC Hybrix Tokens. It's one of the few ways to transfer value between different chains without going through an exchange. Swaps became functional very recently. 8M Market cap.....

Gridjump

Hybrix - HY It's a token that exists on multiple networks with the ability to swap between them. I cant understand why this isn't bigger than it currently is, its not even in the top 1000 but as of right now I can transfer value directly between multiple different chains like BSC and ETH without going through an exchange.

AlexaPlayBot

Now playing: [Eminem - Without Me (Official Music Video)](https://youtube.com/watch?v=YVkUvmDQ3HY). ^^[ stop messaging me](https://reddit.com/message/compose/?to=AlexaPlayBot&subject=Blacklist+me&message=!blacklist) | [programmer](https://reddit.com/message/compose/?to=bspammer) | [source](https://gist.github.com/bspammer/97f1dc8c676ca93af9289a77a0d4e93a) | [banlist](https://reddit.com/r/AlexaPlayBot/comments/92euyo/subs_the_bot_has_been_banned_from/)

willswheeler

Prolly this https://youtu.be/AJiVjvvD1HY

Gitanochild

HY-LARIOUS r/ WritingPrompts

coinfeeds-bot

tldr; Hybrix is a cross-ledger cross-blockchain platform that allows crypto owners to hold, store, swap, send, and receive tokens hassle-free. The platform supports the trading, sending, swapping, and holding of over 407 tokens [ERC-20 tokens included], way more than most exchanges do. With its native token, the HY token, Hybrix seeks to completely revolutionize the crypto wallet industry by offering coin swap on multiple ledgers. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

trojancourse

HY

Giveme2tango

Hello HY Mayor, it's great to see you here :D

trojancourse

HY

trojancourse

HY

trojancourse

HY

i_have_chosen_a_name

Don't forget to check out hybrix as well. They have invented unified assets. So you could take a 1000 USDT and move it to whatever chain you want, without Tether their permission. Right now Tether on Ethereum and Tron is 100% centralised because of admin keys and the way the smart contract is written. You can potentially take tether from out under tether their control. What if you want to trade a token on chain A but it's high fee? Use hybrix their unified asset technology and move the token to a different chain, without permission needed from the original creators. Check it out --> Their technology can do things that even uniswap can not do and at a current marketcap of just 13 million dollars they are criminally undervalued. This agen725 guy is a vitalik type nerd who once bought 1000 euro worth of ETH in 2015 and then sold it for a million DAI in 2017. He started devving on hybrixin 2016 I believe, and then in 2017 he used his million DAI to pay for more programmers. usually peeps first do an ICO and then start crunching it. But this guy started crunching it with his entire team from 2017 till they ran out his million DAI. Then they launched a ICO. But if you start running a hybrix node, you will see arbitrage traders move volume over your node and you get paid in HY for that. Which means that for traders that want to save on Etheruem fees they will have to buy some HY so they can use your node and that will be a big demand for HY. Already with their webwallet today, you can send somebody a ERC20 token to a Ethereum address and pay fees natively in the token you are sending, without needed gas!!!!!! It's insanely cool shizzle for any small trader that today is already sick of paying for these goddamn uniswap fees. Play with it --> https://beta.hybrix.io/ It's completely decentralised and non custodial and the quality of their beta is insanely high. What company does do zero marketing till they have a product and even then does not do much marketing because they know their product will sell itself. Not to many. Anyways, I got like 1000 HY now, and I have no doubt in the next 5 to 7 year I will do 1000x on them.

trojancourse

HY

trojancourse

HY

trojancourse

HY is a bit lower but a really solid project

YoungFeddy


Beriberi_Cheerios

Hybrix (HY). This has been flying under the radar as it wraps up its testing, but i think it is just a few weeks away from main launch. One coin operating across multiple chains. Beta testing in progress right now for anyone to try. Obviously higher risk, but I find the use case and solution very intriguing.

trojancourse

HY

trojancourse

HY

felinebaby_

What the hell is HY?

trojancourse

HY if you want to x10 from there

Datsagoodusername

Yeah. By bags went from 20% up from close of last month to 10% up from close of last month, but my buy orders are filled before my usual end-of-month purchase. So far this year I'm still happy at earning a thousand times on crypto investment than my "HY"SA. Totally don't get the doom and gloom.

trojancourse

HY hybrix hydra. strongly recommend looking it up

trojancourse

HY hybrix hydra thank me later

trojancourse

HY has been going parabolic I only expect more from it

trojancourse

HY hybrid hydra. If people had listened to me yesterday they’d be up 100% plenty of room to go

trojancourse

HY hybrix hydra

trojancourse

hybrix hydra HY

larrythecableguy76

who ever guesses that right might make a fortune from it . But looking at what e.g. ETH has in the making for 2nd HY I’d rather say end 21 than mid ... but that’s an as good guess as yours

larrythecableguy76

Where do you have your coins ? One way is if you have them on Binance they have very low fees as long as you convert coins on their network or even if you transfer them between two wallets on the Binance network. Other than that, ETH 2.0 is supposed to improve the situation with performance and gas fees so unless you urgently need or want to get rid of those coins, just keep them and wait for 2nd HY.

larrythecableguy76

Don’t think so and the planned changes sound promising but simply announcing an improvement doesn’t yet mean much in times where even bots can write white papers lol give it some time and let’s see what 2nd HY 2021 will look like when v3 actually is getting launched. Not yet 100% sure how or if their time plan is taking ETH 2.0 launch into account though which is scheduled around the same time and we know ETH changes used to be slightly delayed in the past. Time will tell I guess

mrdonnyjohnson

ETH at 2k ... https://youtu.be/YVkUvmDQ3HY

SirKrypto

Available on TOMO Dex? Smh I’m buying $HY and more $tomo both a steal rn

HankMoody71

Bullish as fuck or foolish as Buck? 

wavyloops

Loved this so much I did some sound for it! Feel free to use it. [Link here](https://drive.google.com/file/d/1HY_Fb9WF35BG_3QQZO-tXmh73TlvAxke/view?usp=sharing)

Vedgod69

Shits bleeding, most gains from yesterday wiped out fml