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Episode · Oct 16, 2024 ·

ATC: Memecoin Gains & Taking Profit 101 - Sponsored by @bitperp

On the mic

Summary

0:06:17

Show Setup and BitPerp Launch

Aiden from BitPerp described the perp DEX for Bitcoin assets and meme coins on Bitcoin L2s, with a 100k BTP testnet prize pool and no financial risk.

0:06:17Why taking profit matters, and two back-to-back BitPerp trading competitions

0:09:58With a testnet competition using paper money

0:12:24

Radiant Exploit and Security Lessons

Kool reported the Radiant Capital exploit exceeding 50 million on Arbitrum and BNB, and urged everyone to revoke approvals via revoke.cast. The group debated whether most incidents are true hacks or insider access to keys and multisigs. NatNat shared her MetaMask compromise, and now spreads assets across wallets, while a speaker stressed vetting people with access to socials and Discord.

0:27:43Market check, Bitcoin near 68, the 60k floor, and positions versus portfolios

0:31:55Profit-taking strategies, leaving runners, selling in 20% steps, and watching the jobless claims report

0:35:54Trading in volatile markets and the problem with copying low-leverage whales on crypto Twitter

0:44:51

Leverage Choices and BitPerp Details

A speaker warned against interacting with unknown airdropped NFTs or connecting wallets to unaudited sites. Aiden detailed BitPerp's L2 partners, synthetic oracle model, no KYC, supported wallets and USDT, USDC collateral.

0:44:51Landy on choosing leverage by asset, fundamentals, liquidity, and timeframe

1:06:43

Stacks Upgrade and Competition Tips

Landy covered the Stacks Nakamoto upgrade bringing five-to-ten-second blocks and sBTC for seamless bridging between layers.

1:06:43Followed by Dave's Welsh story

1:18:10Laddering leveraged buy orders, managing liquidation levels, and taking profits during the competition

Key quotes

“one thing that I say, see green, sell green.”

NatNat0:34:29Share on X

“Most of the most most of the issue we have in crypto is insiders, man.”

Kool0:18:49Share on X

“If you try to if you try to pick bottoms, you'll end up with stinky fingers. If you try to pick tops, you'll get socked in your chops.”

Landy1:24:44Share on X

“Stop trying to time the market. Spend time in the market.”

Dave1:26:30Share on X

“pay yourself or you're gonna end up paying somebody else.”

Landy1:28:25Share on X

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Show discussion, not financial advice.