Mon Apr 20 17:52:33 2020
<9e126bf3> $BTC just shit the bed. whats going on
<8f79fcda> cheaper to make btc when oil is super low
<8f79fcda> kneecapping chinese btc production
<773ab1f1>
<773ab1f1>
<9e126bf3> I almost miss peak oil lol. Now we are drowning in oil
<9e126bf3> lol
<9e126bf3> <https://www.forbes.com/sites/jimcollins/2020/04/20/the-us-oil-etf-uso-is-the-culprit-behind-oils-massive-plunge/#16a2c62924e8>
— The U.S. Oil ETF, USO, Is The Culprit Behind Oil’s Massive Plunge
— According to Bloomberg, USO owned 25% of the outstanding volume of May WTI oil futures contracts as of last week.
<773ab1f1> wtf do you even do if you got may futures, they expire and you can’t take physical deliver. You have to sell. What if the price is negative? You have to PAY to offload ur contracts?
<58f4c611> WHEN DO WE BUY
<58f4c611> Gov subsidiaries and forced use of oil inbound
<58f4c611> Gotta be right?
<8f79fcda> PLASTICS
<58f4c611> It’s negative!
<8f79fcda> what
<8f79fcda> show me
<58f4c611>
<773ab1f1> fuck me
<9e126bf3> lol over 100% loss eh?
<9e126bf3> does the universe collapse any moment now?
<58f4c611>
<58f4c611> Lol I just went to open a Schwabb account. Gonna take 3 business days
<58f4c611> U guys with traditional accounts always get all the fun
<8f79fcda> The real news is that this news is not in the mainstream news
<8f79fcda> sweeping out the speculators that create the need for overseas oil wars
<8f79fcda> opec is destroyed
<8f79fcda> so does that mean i can get paid to accept a barrel of oil on delivery?
<9e126bf3> rent a tanker
<8f79fcda> yeah
<9e126bf3> “The Corona Swan” :ship:
<773ab1f1>
<8f79fcda> i have this book “turning oil in to salt”
<8f79fcda> i think it’s time to read it
<8f79fcda> making oil so prevalent that it’s as accessible and plentiful as salt
<773ab1f1>
<9e126bf3> omg
<9e126bf3> it’s falling into a singularity
<9e126bf3> someone is going to owe the house a trillion dollars before they shut it off lmaooo
<58f4c611> -39.55
<58f4c611> -299%
<58f4c611> damn commodities be dangerous lol
<9e126bf3>
<9e126bf3> this is worse than a typical shitcoin
<58f4c611> Here is where the money is made
<58f4c611> Back to -28
<58f4c611> -25
<58f4c611> If I had an account I would probably buy now
<58f4c611> Sell near zero
<58f4c611> But alas
<58f4c611> I do not
<58f4c611> Wait do I even need a balance to buy a negative commodity
<773ab1f1> lol
<8f79fcda>
<773ab1f1> there is probably a margin requirement to make sure you can cover it in the event that it goes more negative.
<58f4c611> Lol I don’t even know how to trade commodities. Apparently my Schwann account that I just ‘opened’ is for stocks/etfs, mutual funds, bonds, cds
<58f4c611> Schwab lol
<58f4c611> Oh I see
<58f4c611> This is for storage contracts
<58f4c611> Which is why is plunged negative
<8f79fcda> “we’ll pay you to store oil
<8f79fcda> or use it – i want to run my car arbitrarily
<773ab1f1>
<58f4c611> I think I understand future contacts now
<58f4c611> Hooray for me