It's happening again

Probably shorted the bottom on 25x leverage or something, we have moved from 8967 to a high of 9325, only on 25x+ leverage could you have been liquidated on such a price movement.

Assuming he did use 25x leverage this particular person lost ~6,75 BTC

>tfw yesterday longed at 9100

Literally catched the bottom

Feels so fucking good m8s

>people unironically use 50 and 100x

I read this article a while back, that said that Microsoft employs more millionaire secretary's that any other company in the world.

They took stock options over Christmas bonuses. It was a good move.

I remember there was this picture, of one of the groundskeepers next to his Ferrari. Blew my mind.

You see shit like that, and it just plants seeds, makes you think its possible, even easy!

And then you turn on the TV, and there's just more of it.

The $87 Million lottery winner, that kid actor that just made 20 million on his last movie, that internet stock that shot through the roof!...

You could have made millions if you had just gotten in early, and that's exactly what I wanted to do: get in.

I didn't want to be an innovator, i just wanted to make the quick and easy buck, i just wanted in.

The Notorious BIG said it best: "Either you're slingin' crack-rock, or you've got a wicked jump-shot."

Nobody wants to work for it anymore.

There's no honor in taking that after school job at Mickey Dee's, honor's in the dollar, kid.

So I went the white boy way of slinging crack-rock: I became a crypto trader.

nice story fag

you could atleast explain it then you faggot

Some people do it becuase they're whales with 5000BTC and like to take a gamble with like 5 BTC on 100x at an important resistance/support level, and then there are scalpers who use these profesionally. And ofcourse you have the emotional gambler who thinks its an easy way to become a millionaire.

>story
It's from a movie, friendo.

Stop whining, brainlet.

Short selling = Selling BTC at a ''high price'' and buying it back on a lower price, you make money on the difference in price.

Long buying= buying Bitcoin at a low price and re-selling it at a higher price, making you money on the price difference.

He got liquidated because he thought BTC would go down, he used high leverage and his liquidation price was set at 9325, meaning that at that price he didn't have the equity to keep his position alive anymore and had to be liquidated, or in other words the exchange seized his funds and sold it off to the winners.

Nah i feel good. Im gonna win

thanks for the breakdown, much appreciated, fuck trying to time this shambles of a market though.

Yeah its definitely not for everyone, I'd say it comes down to your personal preferences of how to make money in a market (i.e. investing(holding) or trading (or even both)).

It can make a lot of money however, but not everyone does it to for the trade, some people also companies, for example a company that gets paid in BTC can use futures to hedge their earnings if BTC price goes down.

Miners get paid in Bitcoin and might want to hedge their earnings so they still get paid the same amount in USD regardless of BTC's price. usually you'd use 2x leverage max for such things though.

He was thinking btc wasn’t going up to $9325.

He had to pay an unknown percentage of that, 4%, maybe less.

Bill Gates found Bitmex, I see.

No one ever loses a million dollars really on this thing. That was probably .50 cents at 99999x leverage

This is what biz tells me anyway

I'm not sure I understand this leverage stuff.
Say I shorted bitcoin at 10k, 10x leverage, it will be liquidated if bitcoin goes up to 11k?
And if I buy at 10k, 10x leverage, if it goes down to 9k I'm dead?

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It was more a joke about Gates saying recently that he'd short Bitcoin "if he could".

Gates went bankrupt in 1942 I think

>shorting the bottom
oh nononononononono

boiler room? kino

Based margin lenders.

the main thing about shorting is you just don't be a fucking pussy. You put in numbers and max out the leverage then you walk away and bench 300 lbs for 5 reps then fight a grizzly bear

No he didn't. He made a lot of money in the 90s and after with his computer program firm called "Microsoft", and until recently was one of the richest people on earth.

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bill gates just got fucked

Believing the media lies user.

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>margin level

there's your hint, go read up on it

should have short at 10k but you'll never set it at that level because bots make it climb or fall hundreds within seconds sometimes. Peoples biggest mistake is setting up their margin way too let, after its already dropped a grand or raised a grand in either direction.

>all that reddit spacing

I had s long set for 8950 at 100x and I just missed it

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