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24742971 No.24742971 [Reply] [Original]

LMAO AT SHORTING BEAR FAGGOTS, YOU WILL OWE FLARE

I HELD 10,000 LONG AND HAD TONS OF EQUITY TO BACK MYSELF UP SO I WOULDN'T MARGIN CALL

I'M GOING TO LONG THE PUMP AND GAIN A SHIT TON OF FLARE
https://blog.kraken.com/post/7138/xrp-investors-and-traders-kraken-is-supporting-the-spark-flr-airdrop-heres-what-you-need-to-know/

"Leveraged XRP margin short spot positions held across the balance snapshot may result in an FLR debit
If you hold a leveraged XRP margin short spot position across the airdrop, it will carry over and can be closed at any time in the usual way. However, please note that you may also receive an FLR debit at a later time. The debit could result in a negative FLR balance in your account that must be corrected by either buying or depositing FLR.

Why the debit? An amount of XRP was provided to you to support a spot transaction (e.g. the sale of XRP in exchange for USD). To close the position, you must return the same amount of XRP, but you are also responsible for returning any proceeds resulting from a network fork or airdrop that occurred during the time the XRP was provided to you.

Important note for clients with leveraged XRP margin short spot positions: Given the unusually large gap of time between the balance snapshot and the time when FLR tokens will exist on the Flare network and have price discovery in open markets, this may create a difficulty in debiting FLR or giving clients a negative FLR balance.

We highly recommend that clients with XRP short positions close them ahead of the balance snapshot. For clients that maintain their XRP shorts across the balance snapshot, Kraken will make an effort to help rectify the FLR debits in a way that does not result in an unreasonable burden. Clients with XRP shorts should not assume, however, that they will have no obligation whatsoever to rectify the negative FLR balance. "

>> No.24743413

>>24742971
Margin call means nothing

>> No.24743557

>>24743413
Meant liquidate.

Kraken can technically liquidate you under 80%(the margin call), I wasn't going to risk that.

I had enough money on hand for equity after doing the calculations knowing it wouldn't dump more than I did. I'll put it in better crypto opportunities or stock or something.

The XRP I had I already bought at 35 cents to see where it would go, knowing not to do too much in case of dumps. Taken some profits and stuff from swings here and there. Not too much invested too I make way more off stock market than crypto. I had the idea for the margin thing when I looked up how Kraken was handling anything on Margin.

All flare has to do is go to 50 cents and I just made a ton of money, any higher then it'll be fucking wild. And I'm about to make a couple hundred of this long and hold this XRP for a while.