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29203851 No.29203851 [Reply] [Original]

I shorted btc at 51k with a 10x leverage. I believed I would make it for all of 2 hours, then reality set in. Can I just delete the app? I have zero intention of paying back the money I owe

>> No.29203909

>>29203851
lmfao what

>> No.29203942

assuming not a larp, flee the country. your life is over

>> No.29203990

>>29203942
Looks like it's Mexico then. Guess I'll join the Mormons for safety

>> No.29204510

>>29203851
Trying to read the crypto market is insanely difficult. I got burned, too.

>> No.29204829

>>29203851
Just long 100x leverage

>> No.29204870

>>29204829
kek

>> No.29204985
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29204985

>>29204829
They won't let me borrow more money. I could owe 7 digits by the time this is over

>> No.29205039
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29205039

>>29203851
https://www.youtube.com/watch?v=oD2gXY4piF4
AHHH GEEEEZE DUDDE? HOW MANY THOUSANDS? I JUST HIT MY CARR BRO AHHH DUDE AND I HURT MY LEG DUDE I WAS IN THE HOSPITAL FOR DAYYYS WITH MY LEG AND IM ON THESE PILLS

>> No.29205121

>>29203851
Dude u r fucked why would you 10x when you are not absolutely sure?

>> No.29205143

>>29205039
I CAN DOOO UHH MAYBE, 12 DOLLARS?

>> No.29205186

>>29203851
how much do you currently owe?

>> No.29205203
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29205203

>>29205143
>I CAN DOOO UHH MAYBE, 12 DOLLARS?
BRO, YOU ACCEPT DOGECOIN STOCKS RIGHT?

>> No.29205459

>>29203851
I've never leverage traded before. Can someone explain to me like I'm retarded how fucked OP is? How much money is he going to have to pay 10x shorting BTC at 51k?

>> No.29205577

>>29205039
>OH I JUST REMEMBERED I OWE PEOPLE A LOT OF MONEY
>LET ME GO (((SPRINT))) TO GO PAY THAT
https://www.youtube.com/watch?v=tk5VmlSts1A

>> No.29205647

>>29205459
he's larping abandoning the app. his position wouldn't be open unless he had margin to cover it. that being said, with 10x leverage, he's probably burned through everything lol. leverage is buying extra commodity on the dime of the exchange in either a
short
>selling thinking the price will go down or
long position
>buying thinking the price will go up
you can leverage where the exchange will multiply your investment. I.e. you put in 500 bucks, with 10x leverage you can get up to $5000 of the commodity. it's pure speculation but if you're lucky, you can hit it big. plenty of fags shorted at 20k last time around and made a killing. i've done it from time to time, it's more of a rush than anything else lol

>> No.29205696

>>29205647
oh and with regards to margin, when you take these positions you have collateral available to cover your position if things go opposite of how you bet. so if you short but price goes up, the exchange will start taking money out of your collateral. this is expedited with the higher leverage you go

>> No.29205785

>>29205459
It's like borrowing money to buy more shares.
At 1:10, you "buy" it for 1/10 of the price, but bear the same profits and losses of the full buy (10x the money you actually spent)

>> No.29205807

>>29203851
I don't understand why you'd want to short unless it was 100% sure thing in boomer stocks. Why on earth would you want the potential for infinite losses on something as volatile as crypto. You're playing Russian roulette.

>> No.29205822
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29205822

I always wonder if threads like these are actually real or not

>> No.29206068

>>29203851
>paying back money
What, don't they just liquidize your position? Or did you make a special short with loan?