/biz/ - Business & Finance

[Anonymous No.7301636]

I'm at my wits end, went from 1.3m to 301k. Making a final gamble, going long with 50x leverage, liquidation at 7840. Go big or go home.

[Anonymous No.7301654]

>>7301636
Prove it

[Anonymous No.7301659]

lol, you went past my benchmark

if you'd have pulled out at 1m you never woulda had to work a day in your life again

[Anonymous No.7301666]

>>7301636

you should probably cash out half before you lose everything. 150k is still alot, enough for a condo in most places .

[Anonymous No.7301673]

>>7301636
LMFAO GET PLAYED BOY I REALLY HOPE YOU DON'T KILL YOURSELF AFTER THIS

[Anonymous No.7301689]

>>7301636
Goodluck op

[Anonymous No.7301713]

>>7301659
1m isn't nearly enough to retire unless you're a thirdie or old as fuck

[Anonymous No.7301751]

If i make it big with crypto why should i continue living in the US, expecially considering i have no friends in this country, might as well move to some eastern European country with low cost of life.

who is with me?

US is sort of a shit hole any way

[Anonymous No.7301756]

>>7301713
1 million is enough to live a moderate life without working. You build a conservative portfolio of bonds and stocks and get 4-5% return. that is 40-50k/year without eating into your principal.

[Anonymous No.7301762]

nice you made a bit, close it and cash out or hold moron.

[Anonymous No.7301781]

>>7301756
>stocks crash
>you're fucked
lol

[Anonymous No.7301791]

>>7301636
closed?

[Anonymous No.7301794]

>>7301756

Assuming the mainstream financial system is going to be stable. And you have to pay a mortgage because you don't own a property.

$5 mil is more realistic. $10 mil to be comfy.

[Anonymous No.7301814]

>>7301636
post pic. dis gonna b gud. godspeed

[Anonymous No.7301841]

>>7301794
who the hell needs 5 or even 10 mill to live a comfy life

you are a fucking retard

[Anonymous No.7301867]

>>7301636
Phew this could have been me. 1.5 million down to 900k. Cashed out.

[Anonymous No.7301887]

>>7301636
dont

https://www.tradingview.com/chart/XBTUSD/2aT9xkJ8-Bitcoin-A-Prophecy-of-the-Future/

[Anonymous No.7301926]

>>7301794
>5mil is more realistic, 10 mil to be comfy

If you have a decent job (100k) and worked from 25 to 60 y-o, that's 3.5mil before taxes. You're delusional of you think you need 5-10mil

[Anonymous No.7301933]

>>7301636
Spastic. Cash out 80% and leave 20% to gamble with. Don't use ridiculous margins in a highly volatile market like crypto.

[Anonymous No.7301970]

>>7301636
Oh yeah, and don't forget to pay your taxes!

[Anonymous No.7302002]

>>7301659
Well $1m is more like 620k after taxes, assuming he's from the U.S.

[Anonymous No.7302053]

I've went from 20k, to 1.3m, down to 301k. Can I deduct losses to minimize taxes?

[Anonymous No.7302059]

>>7301713
SHUT THE FUCK UP FAGGOT people like you is why I didnt take profit

[Anonymous No.7302078]

>>7301926

>there are 10 months in a year

[Anonymous No.7302161]

>>7301636
pic pls

[Anonymous No.7302244]

>>7302161
>Making a final gamble, going long with 50x leverage, liquidation at 7840.
This can't be real. No one is this retarded.

[Anonymous No.7302360]

>>7301751
You forgot : Slavs are not White

[Anonymous No.7302406]

>>7301636
You deserve to lose it all being a degen gambler

[Anonymous No.7302435]

Just hold m8. We are in the infancy of this shit. We are going to win in the end.

[Anonymous No.7302438]

>>7301636
>7840

Bl kid, it will probably hit that then bounce back into bull territory.

[Anonymous No.7302440]

>>7301814
>>7302161
>>7301654

[Anonymous No.7302467]

>>7302440
oh shit

[Anonymous No.7302497]

>>7302440
holy....
dont hurt yourself op pls

[Anonymous No.7302501]

>>7301756
Well, you surely dont have to wagecuck in McDonalds
Assume 650k after taxes
- 150k main property
- 2x200k two rental properties to start the cashflow (or 1 rental + 200k into business)
- 50k reserve
- 50k high risk fund for the next crypto

Pretty comfy senpai

[Anonymous No.7302575]

For once I would like that some chap from biz accually beats the odda and get the magin win on 50-100x. That would be epic.

[Anonymous No.7302615]

>>7301636
Haha, don't worry sweetie those virtual coins weren't real monies anyway! Time for you to go job hunting :)

[Anonymous No.7302644]

>>7301636
at least save something for taxes

[Anonymous No.7302663]

>>7302053
I went from 12k to 40k back to 11k
Im down 1k from my initial savings.
If tax mans coming to collect my non existant profit im gonna punch him out.

[Anonymous No.7302674]

>>7301636
Dude, short it to at least 5k!! Don't go long!

[Anonymous No.7302719]

>>7302002
You have to be an especially microscopic brainlet to not understand how to use localmonero.com...

[Anonymous No.7302735]

You stupid fuck. Cash out $200K at least.

[Anonymous No.7302751]

>>7302440
you're completely fucking retarded

just make a few conservative moves and wait for market to recover

[Anonymous No.7302795]

Did it happen?
Am I about to see OP on bitmex rekt?

[Anonymous No.7302829]

>>7302795
https://www.bitmex.com/app/trade/XBTUSD
Watch here

[Anonymous No.7302864]

>>7301636
>throwing away 300k
Dude, I was in the same situation in early december (220k to 60k, recovered to 120k now), just take a day off and think about it and you will eventually recover.

[Anonymous No.7302884]

>>7302751
this, ironically. OP is retarded

[Anonymous No.7302916]

You could literally make back your million by investing in boring fucking Berkshire if you really wanted to over the next 15 years. Just please don't waste your last $300k in one stupid gamble.

[Anonymous No.7302918]

OP??

[Anonymous No.7302989]

If you keep your idiotic move then please sell once you have $500K or something and put it somewhere same. Never come back after that.

[Anonymous No.7303025]

>>7302440
dude the price is going back to 10k for sure but it might soar straight to 6-7k before that. Don't play margin on such a shitty crash (20% crash). If you are to, play it when its at 6-7k like I said because there's no way it can go lower before it bounces

[Anonymous No.7303045]

>>7302864
>>7302916

Price is currently ~7900, there isn't anything left to pull out.

OP should seriously consider sacrificing his firstborn to the bull god.

[Anonymous No.7303096]

>>7302440
this is some kaiji level bullshit holy fuck dude, do you have some debt owed to some yakuza landsharks that are going to bring you to an underground concentration camp?

why a final gamble when you could just wait 3 years

[Anonymous No.7303103]

cap this thread boys, we will be posting this six months from now in a best of /biz/

[Anonymous No.7303128]

>>7303103
this retard makes me furious. All my life problems would be gone with 300k.

[Anonymous No.7303149]

>>7303096
~zawa ~zawa

[Anonymous No.7303178]

Rip

[Anonymous No.7303179]

I'm crossing my fingers for you OP

[Anonymous No.7303180]

>>7303128
Bigger the risk, bigger the reward. I’m rooting for OP even if I think it is retarded

No one cares to hear the stories about how someone played it safe. Everyone wants to hear how they risked everything and somehow won.

[Anonymous No.7303181]

I was cheering for you bro...

[Anonymous No.7303187]

Last Price
$7,889.93

LMAOOOOOOOOOO OP IM SORRY YOU RETARD BUT YOUR FUCKED

[Anonymous No.7303193]

OP :o

[Anonymous No.7303197]

RIP OP

[Anonymous No.7303201]

3...2....1...

[Anonymous No.7303204]

>>7303179
It already hit his stop loss..

[Anonymous No.7303214]

>>7301636
>going long against all these greedy faggots just so we can see bullrun again
>OP sacrificing himself so fellow anon can make it
Fortune favors the bold anon.
we love you

[Anonymous No.7303216]

oh SHIT

RIP in peace OP

F

[Anonymous No.7303220]

It’s over.

RIP OP

F

[Anonymous No.7303225]

don't do a suicide please

[Anonymous No.7303226]

F

[Anonymous No.7303228]

Can't be real

[Anonymous No.7303239]

>>7303149
>HE HATES IT

[Anonymous No.7303242]

Sorry op

[Anonymous No.7303243]

>>7301636
Jesus

What a waste

[Anonymous No.7303246]

Idk why he decided to long when everyone is saying it's going to at least 5k...

[Anonymous No.7303254]

>>7302440
Nice. im not sure ure gonna make it but i seriously hope you do

[Anonymous No.7303263]

nice LARP, now post your liquidation.

[Anonymous No.7303267]

>>7301636
Apparently, this is the ending that you deserve.

[Anonymous No.7303271]

Not on Bitmex rekt

[Anonymous No.7303297]

Op :/

[Anonymous No.7303333]

>>7301636
>>7303220

Look at those time stamps, exactly one hour apart. OP lost 330k USD in exactly one hour.

Amazing.

F

[Anonymous No.7303336]

meh i had $650,000.. dont know what im down to now.. lemme calculate... £51k cash, 50 eth, 80,000 sphtx.. soooo $150,000... so im down $400,000 lol

[Anonymous No.7303346]

>>7301636

[Anonymous No.7303374]

>>7303333
Wasted quads

[Anonymous No.7303388]

>>7301636
>me
>smart and prudent
>broke as shit
>you
>fucking stupid and reckless
>on the verge of making it

fuck life

[Anonymous No.7303419]

>>7301636
>liquidation at 7840
>liquidation at 7840
>liquidation at 7840

RIP

[Anonymous No.7303421]

>>7303333

>lost 330k
>digits 303333

Press 3 to pay respects

[Anonymous No.7303427]

I'm sorry, OP

we are here if you need someone to talk to

[Anonymous No.7303440]

OP has committed suicide!

Press F to pay respects

[Anonymous No.7303468]

>>7301636

Then go home.

You won't follow this advice, because you're addicted to gambling, but you should cash out all of your coin into dollars (if the exchange will even let you do this).

In 6 months BTC is going to be under 1000, and any other coin that pegs itself to BTC will be worse

[Anonymous No.7303470]

>>7301636
you got the right attitude op, your going to fucking make it someday even if you got liquidated

[Anonymous No.7303472]

>>7303421
3

[Anonymous No.7303474]

>op

[Anonymous No.7303476]

>>7303419
>>7303271
what happened? did he chicken out?

[Anonymous No.7303478]

Can someone explain to a brainlet just what happened here?

[Anonymous No.7303483]

>>7302440

[Anonymous No.7303500]

BLOOD FOR THE BLOOD GOD
NEETS FOR THE NEET THRONE

[Anonymous No.7303517]

>>7303478
Anon is losing money so they're buying more meme coins.

[Anonymous No.7303520]

probably the first time im sorry about a /biz/bro

[Anonymous No.7303529]

>>7303267
is that you izaro

[Anonymous No.7303536]

>>7301636
You fucking retard why didn't you use my reference code? You actually could've avoided this with the 10% discount on fees and I would've made $1000 off your stupidity

[Anonymous No.7303541]

>>7303478
OP went long with 50x leverage on Bitcoin, got wiped out. His former crypto fortune is now worth zero.

[Anonymous No.7303562]

>>7303478
leverage means he received a temporary loan to bet on the market with

if he guesses right, he makes massive profit

if he guesses wrong, he eats massive shit

he ate massive shit and his portfolio is ~1k or less now

[Anonymous No.7303599]

Lol, but rentals. Retire to Vietnam. Have all Your Time Back ... U shouldnt piss that away

[Anonymous No.7303601]

>>7303478
Op just lost 330k when he could've made comfy 30k with a lower margin

[Anonymous No.7303613]

OP killed himself.

[Anonymous No.7303645]

>>7303220
what a fucking idiot. i hope he kills himself

[Anonymous No.7303649]

>>7302440
https://www.youtube.com/watch?v=hORG93gbs5I

[Anonymous No.7303731]

>>7303541
He's not on bitmexrekt https://twitter.com/BitmexRekt
So he must have sold.
let's do the math. If he made profit off 50x at 301k that's 15,050,000$
he entered at around 1:35am BST so at about $7970 per btc
it went up to $8100 so a 1.6% gain
1.6% of 15,050,000$ is $240,800 potential profit

[Anonymous No.7303775]

>>7302440
So are you going to be livestreaming the suicide?
Can I have your stuff?

[Anonymous No.7303787]

Some fucking idiot with a 210+ bitcoin sell order at 8040 on gdax. People really want to tank this intentionally now.

[Anonymous No.7303795]

mark price never reached liquidation
OP still alive
nomexers ITT

[Anonymous No.7303808]

[Anonymous No.7303830]

I think>>7303731
>let's do the math. If he made profit off 50x at 301k that's 15,050,000$

I really hope OP made it.

[Anonymous No.7303842]

>>7303787
I'll pull it after OP kills himself.

[Anonymous No.7303859]

>>7303731
Or maybe he was just larping

[Anonymous No.7303880]

>>7302440
>>7303731
But why does he only have 46 coins on margin? Shouldn't he have like 1,860?

[Anonymous No.7303891]

>>7303795
It went below his liquidation price.
>>7303419

[Anonymous No.7303925]

>>7301636
GOing down to 6.5 you’re gonna lose

[Anonymous No.7303947]

>>7303891
na the mark price didnt get below 7850

[Anonymous No.7303988]

>>7301636
I’m going to guess you’re larping but if not, I’ll see you in hell

[Anonymous No.7303996]

>>7303795
Yeah this. Retards. Mark price is different than bitmex price and it's what matters. I've been 200% underwater on a 100X trade but mark price didn't hit so it won't sell. I really don't understand how they don't lose money but oh well.

[MARGIN CALL BOT No.7304022]

>>7301636
What a retard

Margin called yet?

[Anonymous No.7304110]

>>7303996
How do I view a chart of the mark price? Looks like it pumped a bit now. If OP actually survived near liquidation that and rode this pump.....

[Anonymous No.7304158]

HOLY FUCK OP MADE IT! I PRAY TO GOD YOU DIDNT CLOSE. PLEASE OP I LOVE YOU.
3BMEXyS4SZ5SUXzbNK1tDR4v59u9xzLAox

[Anonymous No.7304162]

>>7301636
all you had to do to make it was literally nothing

[Anonymous No.7304178]

>>7304110
Im a brainlet, I'm not sure if Mark price is included in the chart even though it should be. Mex can be confusing as fuck. My first month trading there I didn't even know what the fuck the mark price meant and how it affected liquidations

[Anonymous No.7304250]

>>7303731

REKT
@BitmexRekt
·
1h
Liquidated long on XBTUSD: Sell 117,841 @ 7908.5 ~ BEYOND GODLIKE x16

What the fuck does this shit mean? Someone was forced by the exchange to sell $932 milllion worth of bitcoin?

How does he have access to the orderers positions?

[Anonymous No.7304274]

Do you think op is an hero?

[Anonymous No.7304297]

>>7303649
https://www.youtube.com/watch?v=OeLxUVACQF0

[Anonymous No.7304302]

>>7304250

No.

117841 = 117841 $1 contracts
Total loss is $117841, but could be less depending on how much leverage the trader used

[Anonymous No.7304304]

>>7304250
No, 117 thousand usd worth of BTC
This one is better:
Liquidated long on XBTH18: Sell 10,000,000 @ 8400

[Anonymous No.7304307]

>>7304250
Each contract is 1 dollar so that's only 117k.
Depending on what leverage the user had, he could lost 117k or only $117 dollar on x100 leverage.

[Anonymous No.7304374]

Press For to pay respects

[Anonymous No.7304375]

>>7304304
What happens to these people? Can the exchanges enforce anything legally about it? Since they aren’t regulated I suppose your account just gets shutdown if you don’t pay?

[Anonymous No.7304377]

>>7302053
>im only up 1400% now fuck it might as well bet all of it 50/50
I hope you die poor

[Anonymous No.7304380]

so americans can't do this? bitmex does not allow US. Any other margin shit?

[Anonymous No.7304428]

>>7304375
Your liquidation price is based on how much money is in your account. If I have $1000 and go 100x short on bitcoin, then if bitcoin goes up 1% I lose all my money.

[Anonymous No.7304430]

>>7302053
How? Was it all gambling or do you buy ICOs and stuff too?

[Anonymous No.7304456]

>>7304428
don't you mean how much leverage you are on? If you had 10k for 100x short you would also be liquidated at 1% right?

[Anonymous No.7304477]

>>7304456
Yeah sorry my example was irrespective of the actual amount of money in your account. Basically your liquidation is based on the % change in price.

[Anonymous No.7304496]

>>7304375
...? Lol

All the money in your account goes to the exchange immediately and automatically when you are liquidated. That's why it's called being LIQUIDATED.

[Anonymous No.7304507]

Op u are a dumb fuck... shoulda cashed out 1mm and let 300 ride. But what seems right is often over powered by greed.

[Anonymous No.7304514]

>>7304380
Use a VPN to sign up. That's all you need to do.
Bitfinex, okex let's you do future as well but not as extreme. Bitmex let you do 100x while bitfinex let you do 3.33 max(I think) Okex let you do x20 max

[Anonymous No.7304518]

>>7301636
RIP OP. You deserved it, you degenerate gambler.

[Anonymous No.7304540]

>>7304380
On paper they don't. Just use a proxy to sign up and then you can use a normal US IP to trade with, they don't give a fuck. If you decide to sign up use my referral though. Gives you a 10% discount on fees which is actually a lot of money in the long run.
https://www.bitmex.com/register/SVU1C1

[Anonymous No.7304557]

>>7304514
so what about US taxes then?

[Anonymous No.7304594]

>>7304557
You could trade on Poloniex. Fucking bot central over there though.

[Anonymous No.7304604]

>>7304557
>paying taxes

[Anonymous No.7304623]

>>7304557
You know taxes are up to the user right? You can just report it on your own.
Despite the popular meme around here pay your taxes or go to jail.
IRS doesn't have the manpower to go after everyone on crypto scene. so unless you are some big player with multi millions, you are probably fine. Just report the gain/sloss on your own

[Anonymous No.7304660]

>>7304557
move to an uncucked country

[Anonymous No.7304719]

>>7304514
just signed up for bitfinex, told me that US customers are no longer allowed?

[Anonymous No.7304756]

>>7302501
nah I prefer other guys way just put it all into an ETF or buy safe stocks like in banks (they'll always get bailed out anyway) that pay dividends.

property can be fine but if you don't have a huge cash reserve it can be risky to stretch yourself so thin. Imagine buying those 2x200k rental properties and then finding out you need to replace the roof on one ($15-20k) or there's a problem with the foundation or the pipes ($10-20k) or any other number of problems. Or you have bad/destructive tenants.

I'm all for becoming a slum lord if you have like $500k+ in reserve to deal with the dips and repairs but if not I'd stick to conventional stock investments.

[Anonymous No.7304758]

>>7301636
Include me in the screen cap

[Anonymous No.7304806]

>>7304719
Oh sorry. I forgot. Yeah US customer aren't allow same on okex. brain malfunction.
I don't think any online exchange let you trade bitcoin future as U.S. customer. There's traditional portals like ameritrade, CBOE for Americans. But you need to already have money like traditional trader to join those.

[Anonymous No.7304865]

>>7304496
But I meant the case of being liquidated while on a leverage and yet still owing money.

Suppose you got 10k in your account and you leverage 100x but bitcoin goes down... what happens next? Sure you lose your 10k, but is that it? Does the exchange enforce any debt collection action?

[Anonymous No.7304954]

>>7304865
No, you lose your 10k

[Anonymous No.7304973]

>>7304557
Open an account in a tax haven country. Withdraw your money to that account. Then wire it gradually to your US account, wire just the necessary and not all at once.

[Anonymous No.7304989]

>>7304865
no, it would liquidate right when they are about to lose money, so they would be clear, but you would lose all your money.

tl;dr no margin call

[Anonymous No.7305010]

>>7304973
heh ok just for the feds im going to say im (not) going to do that

[Anonymous No.7305040]

Did op commit suicide?

[Anonymous No.7305086]

in on another /biz/ suicide thread

[Anonymous No.7305318]

>>7301636
rip in pepperoni

[Anonymous No.7305446]

>>7301713
>Move to Thailand
Now it is.

[Anonymous No.7305799]

Kinda lame OP never actually confirmed if he got REKT or not. So I'm gonna say its all been a LARP

[Anonymous No.7305864]

>>7305799
Yep

[Anonymous No.7306073]

>>7305799
i mean he could've already an hero'd

[Anonymous No.7307042]

>tfw it liquidate op before it moons
I'm sorry Op. I hope you feel better

[Anonymous No.7307306]

>>7301751
>written by a polish finlad

[Anonymous No.7307420]

>>7305446
Well, enjoy your rice cooked in shit water.

[Anonymous No.7307722]

>>7301713
why would you want to retire? not working gets boring after 2 weeks