/biz/ - Business & Finance

>>8636544

Shit, even at 100x that is a major loss.

>>8636544
Is that the chinese guy who wanted to suicide today on the news in china?

>>8636544
That was probably that guy whose baby died.

>>8636584
>>8636585
nah, he got rekt on futures and on another exchange

>>8636584
>>8636639

Wait what? Wtf are you talking about?

I don't think you're even allowed to do x100 with more than 6 btc. Meaning this guy probably lost around a million dollars at least.

>>8636662
big news in china , some guy wanted to suicide because of crypto.

>>8636544
mother of cockmongler

>>8636544
Does this make anyone else to feel horny :O

>>8636708
shooting ropes as i type

>>8636544
holy shit

Damn hes probably feeling numb right now.

>>8636544
Lel and it bounced right after. Fucking sucks, at least this proves even whales are getting burned.

Imagine losing a million dollars in fifteen minutes. Would you be able to resist killing yourself?

>>8636544
No one is safe

>>8636544
will one of you incels do a 30% opaque wojack on this? posting from phone and need to meme

>>8636777
he probably has way more money than that, I wouldn't care about losing a milion if I had another one

>>8636802
how do you fucking know? The guy might have been coked up out of his mind and owed money to the mob and thought this was the only way he could repay them. You people act like rich fags don't lose money.

wait so he went short at 6756?

What a fucking idiot

>>8636858
anon

>>8636858
No he longed and the price dropped to his liquidation. We dont know whefe he went long, though

>>8636858
yikes kid

>>8636896
Not in brains

>>8636684
links pls

>>8636544
This is why it's crashing hard. Too many normies with their stop losses. Hold or you just ain't gonna make it, poofta.

>>8637010
>>8636962
>>8636916
>>8636896
>>8636884

SO YOU ARE TELLING ME HE SHORTED RIGHT?

>>8637027
I don't gamble. No matter what direction the market goes, BitMex will find some way to jew you.

>>8636544
All house money likely, it's meant to be gambled away.

>>8637053
>I don't gamble
But who was Archie Karas?

>>8636916
well look at the way he words it, its retarded

>>8637053
Exactly this. You get wrecked either way by the price swings. Doesn't matter if you long or short, they always manage to liquidate you eventually

>>8636544

What does it mean to Liquidate a Long?

>>8637137
Means they take your fucking shekels

>>8637137
Dude thought the market was going to go up. It didn't. He lost the collateral he put up for the leverage.

how much principle did he lose?

>>8637137
He bet on the price going up and used leverage, if the price drops instead and he does not have enough money to cover his leverage he will be liquidated

>>8637060
You don't understand how leverage works do you

THIS HERO WILL BE REMEMBERED FOR ALL ETERNITY.

>>8637173
bare minimum 100k, but probably much more than that because no one with that much money would do a 100x long with this price action.

>>8637173
BitMex lets you leverage up to 100x, so at least 100,000 dollarydoos

>>8637193
You don't know the definition of house money do you

>>8637137
It means you just made another kikes day

holy shit he lost 10,000,000 btc thats crazy

>>8637290
anon

>this thread
Lol
Some of these people didn't graduate high school I swear

I seriously believe he killed himself afterwards. This is serious money.

>>8636544
how much leverage do you guys think he was using? 100x? Just imagine he was using 2x.

>>8637290

It had to be more than $100k. 100k would mean 100x leverage, and I don’t think anybody is that stupid. I’m guessing somewhere between 500k and 1mil

>>8637456
If he was using 2x than he can probably afford this loss. That would mean he had 5mil. Somebody betting that much money is pretty fucking rich. Unless they’re stupid.

>>8636696
*grinman

Have 764 BTC

Transfer 20 of them to Bitmex because of boredom of the market

Have a gamble

Lose 20 btc

Now have 744 btc left

Not a fuck was given.

>>8637290
WOW THAT'S 68,790,500,000 USD

>>8636544
Isn't that like 1400 bitcoins? I thought the risk limit was 100 BTC on bitmex? Or does risk limit only apply to your margin?

and im here worried about muh 3k

>>8637562
Then you're a fool. You could by a nice house for that here.

>>8637528
>>8637558

From all the options at what you could imagine was 'the bottom' 6756 is a pretty tight stop.

Id say he was at least x50, but with that much contracts open id say almost certainly was at x100.

>>8637595
Already have 3 nice houses

Different worlds.

This was probably the guys face after.

>>8636544
This guy was me.

AMA.

>>8637615
You could have 4 though, in different countries

>>8637666
how's it like being a no life larping sad fuck?

>>8636544
He was a big guy

>>8637484
>bald headed fuck

>>8637709
4
u

>>8636544
>selling
>ever
Stay poor 10mill poof

>>8637562
>400k
Not finding the most beautiful 18yo girl that you can and putting your child in her for the 20btc instead.
Have no lineage faggot.

>open 50x short on bitmex
>up 80% within minutes
>dont close position thinking it will go lower
>it fucking shoots back up and liquidates me 20 minutes later
>open new position, long this time and all in to make up my losses
>panic close at 50% loss, almost got instantly liquidated
>open another short
>it goes up immediately shoots back up and get liquidated within 10 minutes
IVE BEEN FUCKING CLEANED IN A SINGLE DAY WHAT THE FUCK IS THIS SHIT

>>8637870
REEEE WHY DID THE INTERWEB CASINO TAKE ALL MY MONEY! I THOUGHT BETTING ON BLACK WAS A SUREFIRE STRATEGY

Dead whales make me so happy. This made my night.

>>8637870
Ahahahajahaha you deserve this. Give whatever money you have left over to your mommy to manage for you, since you clearly have zero impulse control and will keep losing it on retarded shit.

>>8637099
Only if you're a high leverage moron. 10x gives you a nice little buffer. Bitmex is what it's all about. When every reddit fag is down 50% you just triipled your stack on obvious price moves. Didn't anyone not expect btc's price to drop today? fuck's sake man

>>8637870
>using 50x leverage
>IN CRYPTO

you literally would have been better off buying Powerball tickets

>>8638100
i almost always use 50x

>>8637562
Wow

Is bitmex better to use than whaleclub?

>>8638227
as a test i opened a demo on whaleclub and open and close minimum position. the fees (spreads?) ate the entire demo margin in a few positions. plus the minimum withdraw is high as fuck you if you transfer a little, forget about getting it back

>>8636708
r/buttcoin

Wait wait wait...nocoiner nipfag reporting. How can a single person transfer 68b in usd fiat from this? Doesn’t it go somewhere? That’s an insane transfer of wealth from a single person...someone please help me understand how this works. This would be major global news if 68b usd value transferred hands in this manner.

>>8637290
yea

>>8638295

Thanks for the info anon. I'll open an account on butmex then, unless you have any other suggestions for leveraged crypto trading

>>8636708
Post your ass

>>8638416
i wasn't recommending the mexican nigger either. open demos on as many exchanges as you want and read calmly their ToS. put most attention to withdraw conditions and always test with the minimums. also check their KYC policies.
if you are just starting, get the fuck away from margin trading

>>8638325
1 contract on bitmex = 1 usd

>>8636544
What does this even mean?