/biz/ - Business & Finance

Biggest loser in crypto

So he's been around since 2008, "trades" and is not a billionaire. Didn't mine or help develop anything?

>>8083514
Only on this board could a man making 250 million be considered a "loser."

>>8083280
what trade

if he held btc and sold at 20k he would have 260,000,000

honestly why would you continue after your first couple millions? I'd GTFO for good as soon as I make a few mil

Wonder what he's doing these days. Imagine having all that money with no purpose in life. You don't ever have to leave your house ever again.

>>8083514
from 13k to 250M and calls the guy loser? LMAO. He is the early adopter. He has done more to crypto then you will ever do in this entire life.

>>8083587
he wasn't leaving his house long before he was a millionaire.

>>8083564
Proving conclusively that trading is for cucks. Chad holder wins again

>>8083550

>>8083592
>>8083564
>>8083514


HE ISNT TRADING CRYPTO YOU FUCKING ILLITERATE RETARDS

>the absolute state

>>8083514
embarrassing

>>8083609
btc would have to go past 200mil to get those gains now

>>8083280

Can't believe this guy made this money trading crypto
actually yes I can, no way he could in a stock market

>>8083680
Derivates. Leverage.

>>8083280
This is the thread that made me start browsing /biz/. A week later Ethereum rose from $2 to $8 and the board was flooded with posts about it.

>>8083592
Mining was the move to make in 2008. Even with $13k you "could" buy over 100k btc which is over a billion today. In the pizza story it cost 10k btc.

Some russian teen made a $100B platform and a chink made the #1 exchange in less than a year, that's impressive. Your story will only impress wannabe traders.

>>8083514

>>8083653
Of course you don't hold the same thing you moron

>>8083732

Anon did you even read the article?

Damn the sheer retardation of biz is on full display ITT

how come when i read about these people i can never find any ACTUAL strategical or technical info about what they do to make money.

i want to be a trader but the thing is i dont care about making fat stacks of cash. i just want to work alone and make a comfy 50k a year maybe, if that.

how does he determine when to get in? how does he determine when to get out? do traders strictly use indicators? do they just follow the news?

>>8083874

he thinks long and hard guy

>>8083874
https://www.japantimes.co.jp/news/2014/09/26/business/famed-bedroom-trader-reveals-his-wealth-secrets-as-he-guns-for-1-billion/

Best you're gonna get.

>>8083514
>>8083564
>>8083592
>>8083609
>>8083653
>>8083680
>>8083760
>>8083820

Jesus fucking christ. Is it because it's Friday night or something? I'm outta here.

>>8083874
cis trades stock order books and bnf order books and technicals but ofcourse they wont tell you about the strategy. at best days tokyo retailers rumored to account 20% of daily volume of NIKKEI exchange. also was rumor these were made up to lure in retail investors cause nikkei was having bad 20 years

https://twitter.com/cissan_9984?lang=fi

>>8083280
>The year is 2016. /biz/ doesn't give a fuck about crypto yet
Newfags get out

>>8083775
>be jap in 2009
>want to buy loli for 70k btc
>max out mum's credit card to buy 130k btc for a penny each
>want to buy more loli but can't afford
>"daytrade" down to 25k btc

These traders usually use what /biz/ refers to as "meme lines" to make money

>>8083587

pink salons & soap lands all day erry day

>>8083601
kek

>>8083760
Just because you value other achievements above others does not mean what this guy achieved is not very impressive. You can talk in hindsight about why people didn't get heavily involved in back in 08, but no one could've known the future, and there have been many crashes over the years which many people called it quits on.

Those who have become rich of off crypto are those who were deeply against centralization, those involved in the Silk Road/Deep Web, and those who simply bought and forgot.

This guy has been actively trading through all of cryptos ups and downs, and is still around to tell the tale.

i turned 5000 into 1000 in one year. some people just get the good ant shit

>>8083514
>pssshh quarter billion, that's nothing

>>8083280
>it's in the comment section: "On December 8, 2005 an order from Mizuho Securities meant to sell 1 share of J-Com Co for 610,000 yen was mistakenly entered as a sale of 610,000 shares at 1 yen, resulting in an estimate loss of $347 million. Following the incident, though a considerable number of firms who had profitted from the order misplacement agreed to hand back their earnings (41.38%), a good number of individual traders refused to do so, as they were not obliged under Japanese law. Such was the case of B.N.F, who managed to amass, in a period of just ten minutes, a figure of 2 billion yen (apr. US$20 million)."

That's interesting because situations like this can actually happen with crypto.
If anyone remembers occasionally "liquidation cascades" happen which keeps lowering the price of a coin until no orders are left. If you have an order at a very low prices, you can end up buying a shitload from people who're forced to liquidate.

>>8085745
GDAX Ethereum flash crash. It was co-ordinated bullshit, rather than a honest mistake made by a large seller. GDAX reimbursed those who lost their eth.

>>8085745
people need to read this more
he just got lucky because some company fucked up

the longer you do this, the higher chance you have to get lucky, which is all that happened to him

>>8085832
Trading is about pushing opportunities that are given to us by the market, adding to big winners, and cutting losers quickly, with judgements being made through some systematic filter/process.

and it's just like Jesse Livermore said: "Failure to take advantage of a serendipitous act of good luck in the stock market is often a mistake."

>>8083609
I'm willing to bet his account has been way less volatile than btc itself.

>complete with livermore qoute
(You)

>>8083874
http://sannji.com/bnf-technique/

step 1 learn japanese like a good 4channer.
step 2 learn knife catching.
step 3 ???
step 4 profit

>>8083630
Maybe he should, the filthy nocoiner

>>8085887
>Trading is about pushing opportunities that are given to us by the market, adding to big winners, and cutting losers quickly, with judgements being made through some systematic filter/process.

This is actually good advice for me in trading DOW futures. Thanks

>>8085832
neo dropped to $3 on bitfinex during the crash

>>8083874
because these people only ever reveal their strategies after they have stopped working and they get their bio ghost-written

>>8083846
I know right...

Wow reading /biz/ back in 2016, the discussion was actually intelligent.

Now all we get is meme images, people calling each other brainlets and posting brainlet pictures, brap and thot pics, and passive-agresssive green text insulting each other.

>>8086670
people had to shill their shitcoins on /pol/ (link)

>>8086670
absolute state of biz. I think with the cryptoboom came with decline of median anon age.

8 YEARS!? Bitcoin was $0.003 in 2010. Even if he just held bitcoin since $1, that's still $250M if he sold at bitcoin's ATH.

This guy isn't some genius trader, he just got in really early.

>>8086746
> he trades stocks.
> he has no hand in cryptos
> he outplayed the bear market

>>8084802
just realized this guy wasn't trading crypto >>8083630

my mistake, I assumed he was because of that comment, but after reading through all of that old thread he seems to have been solely a stock trader?

https://www.youtube.com/watch?v=91iEkDFI1oA

vid gives a rundown of that massive trade he made, seems he used a combination of futures and options

>>8087122
>that massive trade he made
That should say "a massive trade he made", he built a massive position shorting the Nikkei using futures. He seems to base a lot of his decision making off of the order book.

i wish there was more discussion on actual trading here and not just gambling. Trading provides a lifestyle i think appeals to the type of people who come to this site so im surprised we dont see a lot of more discussion.

I personally have been spending a lot of time learning renko charts and how to consistently make money with them. they are a lot more simple and seemingly profitable than regular charts

>>8087505
>>renko charts

Well, consider me interested. Which books or courses or youtube vids did you find most helpful for learning renko?

>>8087245
yeah i always put my orders based on the order book and it never failed me

>>8087670
do you trade solely off of it without using charts, and do you trade futures/stocks?

>>8086670

>>8083280
what did people even talk about here before the bitcoin meme? Not even a newfig, but i've been broswing biz since the BTC fad.

Cryptocurrencies can't die soon enough.

>>8083586
I don't know? More gains?

>>8088143
/biz/ was a containment board made to get bitcoin threads off /g/. Crypto was only a small paart of the board for a while though.

>>8088143
CV rating threads

Why is everyone surprised? That $13K probably just evolved to greater numbers and after 8 years, turned into $250m.

>>8088143

drop shipping scams and real estate

If you didn't already know who this guy is and what his backstory was you're a giant fucking newfaggot and need to get the fuck out