This is my life savings. Maybe I'm an idiot, but I just don't see this going below 0.00112 BTC...

This is my life savings. Maybe I'm an idiot, but I just don't see this going below 0.00112 BTC. If BTC continues crashing to 4k like some people say, that would put EOS at 4.48 USD, I don't think Block.One will let that happen (they have 4 billion USD) but yes it's gonna be a stressful week for sure. My sell target is 0.00185

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You should sell.

>Gambling your life savings.

If I do that, and it goes up, I'll feel worse than if I follow my guy and lose anyway.

Don't gamble more than you're willing to lose. I'm willing to lose my life savings, I'm only 21, I can make it back again.

Ur deluded. Eos is crashing back down. Just cause they have a 4b warchest doesnt mean they will pump it lmao. It means they dont have to depend on the projects success short-mid term cause they have enough funding to keep it running with no problems.

>mfw doesnt understand basic company economics

life savings are not worth much if he is under 50 tbqh

>I don't think Block.One will let that happen (they have 4 billion USD)
retard, this is exactly what they will let happen to scoop up the outstanding supply.

I don't know if I'm deluded, it's a fairly calculated position, since my long is in sats ratio, it would need to dump 20% MORE than BTC is dumping, on top of the fact it already dumped 15%. For a 'blue chip' that's fairly unusual. As in most top 10 coins don't dump that hard.

Out of curiousity what is your biggest bag? Or if youre in fiat right now, what do you plan and putting the most money when the market bottoms? Trying to figure out what people who think EOS is bad consider good.

you shouldn't have done that. if you had bought it cash then fine, just weather the storm, but you can get liquidated. this downtrend will push people further than they think. we have literally only just broken a major support, we can drop another 50% or more, it's a real possibility. you were too greedy and emotional on this.

eos, bch, ether, and xrp have been the strongest in this downtrend, so they will be my buys when i think i see a bottom on btc. but you jumped the gun and didn't take a properly risk adjusted position. you are fucked.

dude dont be so fucking stupid and think about what you're willing to risk. put a stop loss at the very least

Close that shit, EOS is gonna follow BCH's pattern

why would BLockone not let that happen? They would just accumulate more.. like they give a shit.
Did you see Vitalik pump Ether when it crashed?

Stop loss makes no sense in this case because if I set a stop loss it might touch that stop loss (say 0.00125, it hits 0.00123 then goes up) before the rebound. My bet revolves around two things I feel (perhaps stupidly) very confident about: EOS will not trade below 0.0011197, EOS will at SOME point trade above 0.0016. Its a crazy bet but I am just really confident since 0.0016 is quite low in the grand scheme, even factoring in a mainnet dump, there will be announcements and hype.

BCH eventually went back up though, the key here is to make sure my liquidation is below EOS's sat bottom. I might add more BTC to the position to drive the liquidation point to 0.0009, I don't know yet.

Just a gut instinct, EOS is a hype coin, they tend to crash hard but also pump hard. Vs product coins which can bleed out for a long time.

don't be so stubborn nibba

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Exhibit A. Sunk cost fallacy.

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This is gonna sound crazy, but lets say EOS drops to 0.0012, at that point, because my contract is worth 3300 EOS, isn't it literally worth it to borrow 1 BTC (I could borrow the money from my brother for six months) and add it to my margin extending my liquidation to 0.0006? It's not fucking NANO, it can't crash forever. Like honestly you guys might say its crazy but, idk whats the worst case scenario? I lose 20-25k, I wasted more than that on my student loan and I've got a really good job lined up that starts in September.

>it cant crash forever

>going long on a top 5 coin which is overvalued as fuck and still close to ATH, during a btc dump with probably more crash coming
its like you hate money user

look buddy, you think you know what you're doing, but you dont. Dont fuck with Bitmex

Unironically this though, it's a new project, it's basically just launching now, it has zero dapps yet. And one of the reasons I invested in it is because I actually believe in it long term.

I've been in crypto a while, I was a poorfag though and sold a lot of my bitcoins when they first hit 1k on MtGox, used the money to pay for law school, especially since my parents aren't around and I have a disabled nephew (sister is a single mother) I help take care of so I couldn't afford to hold them. I got back in a year ago and traded my way up to 3 btc, cashed out to pay off more student loans (from my undergrad), I have a job at a law firm lined up in September so I should be ok going forward.

Anyways I believe in EOS because even back when ETH came out, I genuinely thought what a good idea it was but also believed that a compromise would be better, something that isn't fully decentralised, with more focus on normie appeal etc. Idk EOS just perfectly describes what I always thought would be good for the space, a gateway drug so to speak. A way for normies to use blockchain without realising it.

Anyways sorry for the blog post frens, just trying to distract myself. I have no work for the next month so plenty of time to obsessively watch the charts and drink away my sorrows if I lose all the money. But I am still confident! You have to have faith, cynicism is more toxic to your career than any other quality. Cheers frens.

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I'm all for laughing at biztards, but this is one dumb fucking thing to do

You are literally willingly throwing money away, money you have probably worked hard to save, STOP

take a good look at its current marketcap. 9.2 fucking billion dollars. What do you think is more likely: a dump to around 5b, or pump to 20b? use your brain dude..

stop this OP
take your loss and stop
seriously
calm down
have a 3 months trip in Pattaya
you will come back and have better prices

if hes throwing away money then short it.

thanks for your stellar advice, I have been BTC short since $11k

EOS is totally worth 10 billion market cap
Working product, check
History, check
etc

How long have you been in crypto? I don't have a lot but I have watched it every day for several years, I could prove it if you don't believe me, but the point is more that the one thing I have learned, is to not pay a lot of attention to market cap. I remember when people said XRP couldn't reach 1 USD. Yeah it was during a bull market cap, but the point is the market cap EOS has already achieved isn't really relevant. At least I don't think so, I could be wrong. Slightly worried about my red ID. Hopefully I get dubs.

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> EOS
> Blue Chip

holy kek

ripple isn't at 1usd

This. OP is clearly retarded. Its already in the top 5, the room for growth simply doesn't exist at this point. The best you can possibly hope for is 2x the current price and overtaking XRP by market cap. Why would you risk it all on a margin long when IN A BEST CASE VERY UNLIKELY SCENARIO you 2x? Thats downright retarded OP. If you're just looking to gamble, long BTC on margin, you have a better chance of actually getting paid off. If you think EOS is going to go somewhere JUST FUCKING BUY EOS instead of longing it on margin where you risk it tanking and you LOSE EVERYTHING.

You're being a fucking retard OP, close the position.

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It's a top 5 coin, with a developer who has delivered a working product twice in the past.

Now those are facts, the stuff about him pumping and dumping and moving on are just ad hominems because ultimately the charts for Steem and BitShares are similar to MOST coins. But the point is that he delivered working products. How is this any more risky than 95% of ICOs that are entirely in development? Plus EOS is a blue chip in the sense that it is discussed pretty regularly outside of biz etc, it certainly has more brand awareness than something like Qtum or Ontology. I mean what metric do you use for blue chips in a market that has so little history? Traditionally blue chip meant consistent, reliable, proven performance. This is not possible in a financial market that has existed technically for a decade, but for all intents and purposes only 3 of those years has shown lots of movement across coins besides BTC.

Im with you fren. Not margin trading but for the first time of my life I went all in. Took all my cryptogains of years and a small loan and just put it in EOS. Lets go.

Holy shit, and I thought people doing this were a meme, did you at least think this through? The probability highest probability right now is to drop...

XRP has also been around for almost as long as fucking BTC and is currently being adopted by companies and banks... You're betting on a new asset that doesn't even have the blockchain started yet based on total speculation

My position is EOS/BTC, so that means even if BTC crashes I don't necessarily get liquidated, I just need EOS to *not* crash by more than 20% relative to BTC. This is, in my mind, slightly safer than just going long on BTC, especially since in the past EOS has held up pretty well when BTC dumps, and my entry price was 20% below the average trading price these last 3 days. The fact that it can only go up 2x, is exactly why I'm using 5x leverage. If EOS goes up by 2x, I will have 10x'd my assets in BTC, then BTC might go up and I'll have made even more. Why would I use leverage on a small cap coin which is already extremely volatile. This way I'm betting on a relatively big coin, going up a little, instead of a tiny coin going up a lot.

I know it will probably drop, but how much? I don't think it will drop 20% relative to BTC, or at least I hope not.

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so im right. whats your point stupid smug nigger

I think no one can really tell you, but this was pure gambling and reckless in my honest opinion

close it and open a short instead before it gets too ugly

>Was

You know the position is still open? I could close it right now and I'd only be down 18%.

>so that means even if BTC crashes I don't necessarily get liquidated, I just need EOS to *not* crash by more than 20% relative to BTC.

... Jesus, you can't fix stupid....

You realize the price EOS/BTC price affects the market cap right?

You're going to get burned hard OP. Don't say we didn't warn you.

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marketcap obviously doesnt mean its worth that much, but still you're buying it for $10 a piece, and there's 900M of them.
lot of risk for so little possible gains.. say it explodes and goes to 50b, that eth current marketcap, you made 5x wow. But if such thing were to happen it probably means a bull market like last one, and many other projects would've made you 50-100x without heavy risk (diversify). I mean if you're already gonna play high risk, dont do it leveraging a fucking top 5, especially during current market. Its asking for trouble. Good luck and hope you learn the lesson once you get liquidated

Why are you talking about market cap, I understand the market cap is affected by the BTC price dumping. What I am saying is even if BTC dumps to 4k right now, I won't have been liquidated unless EOS dumps by 20% MORE, which means that the market cap of EOS should be viewed only in relation to the market cap of BTC. 9 billion for EOS is not that huge when you factor in that NEO has a market cap of 3 billion, and crypto in general has a marketcap of 300 billion.

I'm at 5x leverage, if it goes to 50B I will have done a 25x. Thats the whole point of using leverage. If it goes up by 100% I make 500% gains, if it goes down 20% I get liquidated. Since it already dumped when I opened my position I feel pretty safe.

It basically boils down to this, which will happen first, will EOS hit 6 USD, or will it hit 14 USD. Assuming BTC stays the same, the contract is pegged to the sat price so if BTC crashes just adjust those figures.

>tfw OP unironically making me money

Thanks for countertrading me fucktard.

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>since it already dumped
lol you call that a dump? see how much this shit grew? its still close to ath and you're going long. There's higher chance alts will keep shitting the bed than a sudden 2x pump. 20% lol.. you'll see in a few days

nice inspect element idiot

It's 60% away from ATH, and I bought immediately after a 30% dump from 14 to 10 USD.

jelly

No problem fren, would rather see the money go to a fellow bizraeli. If I get liquidated buy yourself a hot cocoa on me

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why do people laugh at normies for buying btc at +15k when it took more than a year to reach that price from 1k, yet are ok buying shit like EOS at $10 which was 50c just months before, or NANO which went from 10c to 30 fucking dollars in one month, and biz kept buying all the way down while laughing at those normies. Fucking retarded like OP

>Implying EOS isn't one of the most hated coins on Jow Forums
>Implying EOS isn't being bought almost exclusively by normies

Even in this thread only ONE person has agreed that EOS is a good buy, very few other coins have so few followers on biz. Literally ONE person in this entire thread. If you think EOS is a Jow Forums coin you're delusional, it's especially ironic since you yourself are on Jow Forums shitting on EOS.

>inb4 you say that's because EOS is shit
I'm not trying to convince you it isn't shit, I'm saying that you're main point that 'biz' is buying EOS is misleading and inaccurate. EOS is not a Jow Forums coin, Nano was pretty 50/50, but it was more of a reddit coin than a biz coin. Meanwhile even Redditors hate EOS, pretty sure only like the 'twitter community' is buying EOS.

>Why are you talking about market cap
Because you need to compare the total market cap of comparable assets to get a general idea of what is a reasonable expectation of how much room there is for growth in EOS.

EOS is currently 5th by market cap with 9 billion.
ETH is in 2nd with 50 billion.
XRP is in 3rd with 22 billion.

No matter how optimistic you are EOS is NOT going to outperform ETH or XRP at this stage, it does not have the track record or level of adoption either of them have.

Therefore EOS going 2x in EOS/BTC at this point is simply put: NOT REALISTIC. If you think otherwise you are delusional.

>I won't have been liquidated unless EOS dumps by 20% MORE

EOS dumping 20% is more realistic than EOS gaining 100%. A 20% drop at this point DOES NOT EVEN TAKE IT OUT OF 5TH PLACE BY MARKET CAP.

You are essentially betting that EOS is going to stay a top 5 coin. THIS IS NOT REALISTIC!!!

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My target exit point is if EOS hits a 12 billion market cap, I'm leverage trading here, 100% gains is more than enough. This is what I keep trying to explain to you.

Also as I explained further, it would need to dump 20% in sats, I don't see this as very realistic. The way it usually goes is:

>Btc dumps 5%
>Shitcoin X dumps 5% in sats, thus 10% in fiat

If EOS dumps 20% IN SATS that would mean BTC is also dumping about 10%, that would put the fiat cost of EOS at 5 USD roughly, I honestly think a bounce is likelier at this stage than a further dump to 5 USD from 14 USD. Im basically counting on a bull trap to sell.

You do realize one guy somewhere in the world could just fuck your shit up because he fat fingered by accident right?

Bitmex uses mark pricing, that means the price on the exchange doesn't affect liquidation, you can only be liquidated if there is a sustained drop averaged across multiple exchanges, by sustained I mean for several seconds. There are also break switches to prevent this shit. This is why BARTing suggests these exchanges are working together, which is also why you're always safer betting against the crowd when it comes to leverage.