/biz/ - Business & Finance

>Toxic asset is a popular term for certain financial assets whose value has fallen significantly and for which there is no longer a functioning market, so that such assets cannot be sold at a price satisfactory to the holder.

https://en.wikipedia.org/wiki/Toxic_asset

Is crypto a toxic asset? I'd say, by the number of bagholders across all coins, yes it is.

Short BTC on Bitmex with 100x leverage at 6700

>if it goes up, you lose your stack on liquidation
>if it barts down, you make 4x your stack

It's probably 50% for each outcome, the reward/risk ratio is too high to not take a chance at shorting.

It's no secret that BitMEX is full of dumb money right now, but how are we going to sustain it on the long run? We need a strategy to attract more normies or else our future gains could be at stake.

Just talked with BitMEX consumer service. If your short got liquidated, you will be deducted on your total balance the difference between your liquidation position and the price at which you bought the BTC to pay back.

Say for example, your short liquidation was set at 6500, and when BitMEX goes online your order automatically buys BTC at 6800 to cover the short, the 300 price difference is going to be deducted from your outstanding balance proportional to your order, which may turn some user balances into negative, specially if they used high leverage.

>make more money on margin trading than on my real job

At what point should I just quit my job?