/biz/ - Business & Finance

>>8870768
How much did he lose? Please explain?

Kek. Bears absolutely BTFO

>>8870768
holy shit, who the fuck shorts the bottom?

>>8870768

Man, I love it when mafginfags get BTFO.

That's why the crypto market is so rewarding. In the same day, you can see both longs and shorts absolutely fucking trashed.

>>8870794
Depends on the leverage but at least $90k

>>8870830

>>8870830

>>8870856
>>8870864
To clarify, if he shorted near the bottom with a 100x leverage, close to $100k. With 50x leverage, $200k. Don't even want to think about other options

>you can make money when market is going downwards

I hope people realize most people don't "make" any money. Yes you can get lucky a few times, but rarely do people systematically over time profit. After a few lucky streaks shit like this happens. Also blows all TA out of the water

>>8870903

Nah because if he shorted at the bottom with 100x leverage he’d be liquidated after a 1% increase. Since he mist have shorted at 7k or below that means his margin was 10% aka 10x leverage. This bitch lost at LEAST 900k. KEK.

>>8870993
Not necessarily, with $100k on margin you can afford a $1k rally (a bit less because 20% margin call)

>>8871171
t brainlet

>trying to time the most volitle market in the history of man.

Only the long will survive. None of them have heard of the tortoise vs hare

>>8870768
https://www.youtube.com/watch?v=avZDnKz4V98

>>8871249
LOOK AT THE TOP OF HIS HEAD

>>8870939
This. Day trading is pure gambling. Hodling is the only way to make it in crypto.

>>8871171

Think about what youre saying retard. If I’ve shorted 10mm worth of BTC and BTC goes up 5% the exchange that lent you the btc will have lost 500k, your total margin is always the fraction of your collateral. If youre collateral is 100k the exchange needs to stay profitable so youll get margin called when btc goes up 1% since 1% of 10 million = 100k.

He lost 900k conservative estimates. Go ahead and run the numbers yourself.

>>8871311
>holding an asset that doesn't produce anything

>>8870768
he wanted to buy a second island ? wtf was he doing that for

>>8871504
I'm sure all those people who held bitcoin from 2011 are very disappointed because they held an asset that doesn't produce anything.

(retard)

>>8871504
>what is speculation

>>8870768
One less moron on the market. RIP

>>8870768
ITT: Neckbeard neets who wonder why they never got laid becuz they have an innate disdain for humanity and revel in others failures

>>8871621
> they have an innate disdain for humanity and revel in others failures
No. These faggots who got rekt today were here every day celebrating "the death of cryptocurrency", posting their meme bubble charts and linking to /r/buttcoin. They spent weeks shitting on us, so it's only fair to rejoice when they go broke.

>>8871621
its called shadenfraude or something and its a very common phenomenon quit being so buttblasted you idiot

>Liquidated short on XBTUSD: Buy 28 @ 7705

Shit, this guy is ruined.

>>8870768
so can anybody explain to me why people short instead of just selling/tethering up?

I've profited greatly from this bear market and sure I've made some wrong calls but I've made about 2.5x since the crash, I'd be happy to see a bullmarket returning desu

>>8871822
>can anyone explain to me why people want to multiply their gains by 10x, 50x or 100x

Hmmm

>>8871504
>why would anyone be holding the only asset that works outside the (((banking system)))

>>8871842
degenerate greedy gamblers

>>8871842
wait what

these are actual 10x 50x 100x, how the fuck is this not gambling

fuck me I sound like a brainlet now

>>8870939
in traditional securities short selling a bear market is no different than going long in a bull market but crypto is full of insider trading and market manipulation + there is no reliable way to do FA on coins so regardless which side you're basically gambling

>>8871859
It is gambling, unless you are highly disciplined and practice good money management, which 99% of leverage traders do not.

Look at the size of this fucking thing. This was massive compared to that big dump

>>8870799
>Kek. Bears absolutely BTFO
so, i don't exactly get this anti-bear sentiment
the only reason for hating buying cheap is that your are bagholding since $19k
otherwise why wouldn't you want $4k btc?

>>8871953
i never bought a bitcoin above $8000 and the btc sum i bought above $2000 is >10% of all btc i have, and i still think bears are dangerously homosexual
volatility is gay, just never sell your bitcoins so one bitcoin can be worth 1M

>>8871621

see >>8871621 you fucking dumb nigger

>>8871621
I only enjoy when shorters get rekt. I want everyone else to make it and to be happy.

>>8871171
i'm pretty sure that -
if he's on 50x his entry was $7538 and he lost 36 BTC
if 100x his entry was 7614.5 and he lost 22 BTC

>>8871822
if you actually wanted to have a position equivalent to being tethered up, you would be 1x short
it is literally impossible to be liquidated on 1x leverage on bitmex.
so if you wanted to tether up, you can do it without moving your coins.
another thing people do is short on leverage as a way to lower the risk of keep your coins on an exchange.
if you have 10btc and want to tether it, you can use 1 btc at 10x leverage to do it and only risk 10% rather than all of it.

*eats your shorts*

>>8870768
His friends...

>>8872560
Some person locked in a short at 7500 couple days ago on here. Literally 200 dollars over his position told him not sure if it was a good idea.

>>8870768

>>8871953
I'm a bear but I think other bears have been getting way too cocky lately
They needed to be taught a lesson

>>8872658
I hope he took profit or moved his stoploss to breakeven
If I'm shorting defensively, I actually HOPE I get stopped out

>>8872820
>I'm shorting

Here is your problem gambling is an addiction anon get treatment

>>8871822
reasons

>>8872847
you only short to hedge (or scalp) when we're this fucking low
I haven't made a trade in days

>>8871504
COPE
O
P
E

Is LBCC getting delisted?

>>8871504
>holding an asset that doesn't produce anything

Some assets have a revenue stream. Such as REQ and thus are actually producing something, dumb frog poster.

>>8872870
Well, the problem is you have a gambling addiction don't respond to me anymore I don't associate with addicts

Wow didn't he know about link?

>>8871621
butthurt

>>8872962
Its not an addiction if he can refrain from doing it brainlet.