How to Make Ethereum Moon to $10k+
So for context I was recently reading this post and read this response and it gave me this wonderful idea to achieve the flippening almost instantly and make ETH moon 10x in a matter of months (or less).
Let me outline my method as follows; Warning though you're going to need a lot of friends to coordinate this and you're gonna need a lot of balls + some decent risk appetite + the need to stomach a big loss if I'm wrong:
Step 1: Buy some ETH
Step 2: Goto the MakerDAO and learn to use it to generate DAI from ETH.
Step 3: Serve up that ETH as collateral to issue DAI stablecoins.
- 1DAI = 1USD
- $1500 of ETH can be used to generate up to 500 Dai ($500)
- You are effectively borrowing $500 but locking up $1500 in a contract to do so; if the USD value of ETH no longer greater than 1.5x the USD value of DAI issued then part of the ETH you've locked up will automatically be sold off until the balance = 1.5x the value of DAI borrowed.
- To clarify if you locked 1 ETH at $1000/ETH into a maker DAO contract to generate and borrow 666 DAI ($666) and the price of ETH fell to $900 then you would automatically lose 0.0733 ETH = ((1000 / 1.5) – (900 / 1.5) / 900)
- You could totally wuss out though and lock 1 ETH at $1000/ETH into the maker DAO contract to generate only 250 DAI ($250) and then you would only start losing your ETH if it's price falls to $833/ETH (1200 / 1.5).
Step 4: Use that newly minted Dai to buy more ETH.
Step 5 (optional if you have guts – no risk, no reward! 🙂): Use that ETH bought with Dai to open the biggest most leveraged margin long you can!!! I'm talking 100x ETH long on Bitmex if possible; you're buying as much ETH as your exchange will let you.
Step 6: Persuade as many people as you can to do the exact same thing you just did in steps 1 to 5!
Lets say you're now 100x long on ETH via Bitmex, using the full 666 DAI purchased with $1000 worth of ETH: Thats a $66,000 ETH purchase fueled by just $1000. Talk about moving the market!
Get 1000 people to do the same thing at the same time; $66 million buy order on ETH! Using the 14-02-2018 24h daily trading volume of $2665 milion that could trigger a 2.5% a sudden increase in daily trading volume!
Best of all because you're using fully transparent credit! That DAI stablecoin is fully publicly auditable and transparent unlike that pesky tether token! No more guilt about illegal market manipulation or lack of audits now baby; we're fully legal and compliant with all the regulations! After all that DAI's still legal right and as soon as the sprice of ETH goes up (fueled by arbitrage and fomo catalysed by you and your buddies) you can reclaim the principle + fees to recover your collateral, burn the DAI, close your longs and lose all personal risk knowing you just catalyzed a mass FOMO event with eerie resonances akin to the one Bitcoin had 3 months ago…
Remember you can do it!!! Lets just come together people!
Congratulations!!! You're just like the guys at Bitfinex but you didn't need to run an exchange, be a whale or print your own token to do this; like true millenials all the hard work was done; even this stupid article telling you what to do! Now just get a few (thousand) mates together and get started the modern day LAN party of FOMO fueler lambo whale/minnow catalytic converter trading party to Konami code your way to instant wealth and fuel that never ending bitchin bubble that's crypto!!! LETS GET RICH PEOPLE
Disclaimer: This post is strictly parody. The suggested method will probably fail spectacularly and leave you with substantial debts, financial losses and misery. Any references to Bitfinex MakerDAO or any other company referenced in this article including all other content are purely for the purposes of parody; no factual claims have been made, no opinions, assertions or statements made in this article should be taken seriously or as meaningful trading/investing advice. I am not a qualified financial analyst or consultant; you make your own trading and investing decisions at your own risk and take full responsibility. Any strategy outlined in this article should be taken as foolhardy and risky. Do your own research. I am long Ethereum (ETH), Particl (PART), OmiseGo (OMG), Augur (REP), Iconomi (ICN), WeTrust (TRST) and Factom (FCT).