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/biz/ - Business & Finance

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11048936 No.11048936 [Reply] [Original]

when you're trading XBTUSD on bitmex where do the USD come from? is every trade you make against the house or something? I want to deposit dollars but I can't, so that must be what's going on. what a scam

>> No.11048980

>>11048936
You fucking retard.
You are actually a total moron.

Buy btc with the cash yuh want to use. Deposit btc. Voila.

You fucking idiot oh my god I can't believe people like you exist.

>> No.11048993
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11048993

hooolyyy shit...I cant believe someone is that dumb my goosh

>> No.11049055

If you seriously couldn't understand that concept you are not smart enough to be trading.

>> No.11049122

Please come to bitmex OP. feed me your money

>> No.11049140
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11049140

where do the dollars come from though

>> No.11049168

ITT: people pretending to be smart when in reality they dont know the answer either

>> No.11049178

>>11049140
I'll tell you for .05 btc

>> No.11049710

You mean leveraged trading? You borrow fundsu and your own balance is collateral. They liquidate when you get rekt.

t. nontrader

>> No.11049738

>>11049710
but it's xbt/usd and you can only deposit xbt. where does the usd come from. it it like gemini dollars but bitmex dollars? up 600% over the past week btw to anyone calling me stupid

>> No.11049762

>>11049710
This.
you deposit your bitcoins, they are set aside.

Now you use money given by bitmex to trade. when your losses equal your BTC deposit USD value- you get liquidated.

>> No.11049767

>>11049738
stupid on too many levels

>> No.11049788

>>11049710
this makes no sense. that means that there is a chance that bitmex could easily go bankrupt if there is not enough volume to fill liquidations.

>> No.11049825

>>11049788
they only accept BTC though. how is any money even made or lost. it's just literally a big pile of btc sitting there. where are the bitmex dollars? is this a joke I can't fucking believe this how I can't get a straight answer

>> No.11050043

>>11049825
there are no dollars, its just numbers

>> No.11050260
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11050260

>>11050043

>> No.11050297
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11050297

>>11048936
fucking hell how do people this braindead even exist? kill yourself you fucking spacker

>> No.11050685

>>11049825
only BTC is made and lost. Also, it should be obvious how easy it is for Bitmex to game this system. And with no regulation of crypto markets it's also legal

>> No.11050827

>>11049825
Jesus fucking Christ man.

They don't need actual dollars on hand to trade you dumb shit.

Basically what happenes if you depo btc, they exchange that for usdt and you just trade with that.. what's so complicated? They don't need cash to liquidate people.. liquidation means they won and you lost.. wtf. How can you be so stupid?

They pay out in btc as well, what's so complicated 600% genius?

>> No.11050838

>>11050827
what exchange does bitmex use to trade the btc you deposit into usdt?

>> No.11050843

>>11049825
Honestly they can't give you a straight answer because they have a low IQ and prefer to turn their brain off when it comes to their pixel money. If you trade for $$$, it's nothing but a promise by the exchange to give you that credit on a crypto. You have to buy back in to get those funds out.

>> No.11050870

>>11050838
hahaha fucking what are you saying. ahahahaha.
please trade more, free profit for everyone else

>> No.11050883

>>11049788
if their liquidation engine would fuck up and their >10k BTC insurance fund wasn't there, yes.

>> No.11050923

>>11050838
I like Gemeni. Your USD is FDIC insured when it's liquidated. From there you can transfer your BTC to an exchange that allows margin trading bitmex, binance, ect...