It means they don't want to sell any more eth because they think eth is going to explode in price, so they're borrowing USD tokens with those eth as a collateral so they can keep working without having to sell more eth. The eth is locked until they repay the loan or the price of ETH goes too far down for it to cover the loans anymore.
They’re getting serious now
Wyatt Watson
Luke Evans
Note the period. 20 eth
Nathaniel Mitchell
How much money did you faggots give these faggots? They still have 20k ETH?
Connor Martinez
Imagine if some big whale crashes the ETH price to just below their liquidation price, then immediately pumps it back up, just to fuck with Req. Just to absolutely financially ruin Req.
Alexander Gomez
>eth is going to explode in price
AHAHAHAHAHAHAHAHAHAAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA. oh wait they're serious? AHAHAHAHAHAHAHAHAHAAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA WHAT RETARDS
Adrian Phillips
Not everyone is an amerimutt
It blows my mind that there are people on biz who still hold REQt
Andrew Hernandez
Not a REQ holder. Not that stupid. And again - you obviously have 0 understanding of what a CDP is. They aren't "buying" anything - do you understand that? They're staking their Eth in a long position, and issuing DAI from that. What's unclear about this?
Jason Stewart
Because then they lose the original asset. Holy fuck, where did all you newfags come from?
>Not understanding CDPs = not making it.
Nathan Sanchez
REQ team went leverage long on ETH. Just sold all my ETH. They have done everything wrong thus far, what makes this different? I will wait for them to get liquidated then buy in.
Nathaniel Carter
All that happens is they take a penalty & the position is liquidated. Ie, they get most back, less the difference. Worse off than selling, but worth the risk that we're close enough to the bottom. So no, not "ruined", no more than they are now. And you know, they can use that DAI to buy more Eth and pump the price themselves. Or, ya know, pay back part of the CDP before it hits. This thread is just a train wreck of brainlets really.