/biz/ - Business & Finance

[Anonymous No.8184929]

S.

[Anonymous No.8184940]

now this is tragic

[Anonymous No.8184958]

Z NEVER MARGIN
words to live by

[Anonymous No.8184960]

Can anyone explain this?? Is that 3 separate orders?

[Anonymous No.8184962]

>>8184929
Ouch!

[Anonymous No.8184991]

>>8184960

he just lost over 9 million dollars

[Anonymous No.8184992]

>>8184960
thats the amount he lost shorting BTC, decided to close his position when BTC hit 10168, which was a good idea seeing as we are now at 9.6k

[Anonymous No.8185000]

>>8184960
someone used 100x leverage to long 90,000 btc and lost it all

[Anonymous No.8185014]

>>8184992
It wasn't a close, it was a straight up liquidation.

[Anonymous No.8185070]

>>8185000

[Anonymous No.8185075]

>>8184960
9btc long, 100x leverage, he just lost 9btc

[Anonymous No.8185079]

>>8184991
>>8184992
>>8185000
No, no, and no.

Someone took out a long with the notional value of ~9m. He may have used up to 200x leverage, but he may also have not.

[Anonymous No.8185100]

>>8185075
>just

There's "just" and there's JUST, pretty sure that's the second case

[Anonymous No.8185154]

>>8184992
>hurr durr you can only get liquidated when shorting

fucking idiots piss off back to plebbit already

[Anonymous No.8185163]

>>8185079
You can't use 200x leverage on an order that big. BitMEX has a risk limit slider and the default is 200XBT at 0.5% maintenance margin which corresponds to 200x leverage. Increasing the risk limit by every 100XBT past that will also increase your maintenance margin by 0.5%. He lost around $450k assuming he used max leverage.

[Anonymous No.8185192]

>>8185163
ya but theres no way he used max leverage. 1-2mil is much more likely

[Anonymous No.8185216]

Who gets this money? The Bitmex exchange?

[Anonymous No.8185237]

>>8185216
Drumpf

[Anonymous No.8185259]

using rektbot's own calculations and a 10 sec mental math guesstimate, about a million bucks lost.
this is tax deductible so its a good thing in some ways

[Anonymous No.8185290]

>>8185216
It's used to pay those who shorted

[Anonymous No.8185316]

what the fuck is a long what is a short? i don't understand shit about this i only buy and hodl

explain pls senpai

[Anonymous No.8185321]

that's a big fucking gamble while btc is crashing

[Anonymous No.8185328]

>>8185216
no, someone else accepted this guys long and would have got the money when it liquidated. had the long paid off it would have come from the other guys pocket.

[Anonymous No.8185355]

>>8185328
Does bitmex take a cut?

[Anonymous No.8185356]

>>8185316
https://www.investopedia.com/university/shortselling/shortselling1.asp

Long = buy on leverage
Short = sell on leverage

I think

[Anonymous No.8185361]

>>8185316
long means you buy it now and have a contract to sell later.
short means you sell it now on the condition that you will buy it later.

longs make money if the price goes up, and shorts make money if price goes down.

[Anonymous No.8185382]

>>8185316
long is when you bet that btc will go up in value,

short is when you bet btc will fall in value.

if you short you are borrowing btc and when it falls in value you keep the differneve

[Anonymous No.8185383]

>>8185316
a short is when you sell at a high price and bet that the market is going down. you make profit if the price goes down.

a long is when you buy at a low price betting that the price will go up. you make profit if the price goes up

[Anonymous No.8185392]

>>8185328
how the hell does this work? i never understood this part of longing and shorting. how can i accept someone’s long or short? like being on the other side of it like you’re describing?

[Anonymous No.8185438]

you guys can try this out on the bitmex testnet, they run a simulated exchange where you play with fake money.
https://testnet.bitmex.com/

[Anonymous No.8185439]

>>8185316
fucking typical anime retard, kill yourself nigger

[Anonymous No.8185442]

>>8185392
Read you fucking 13 year old mongs

[Anonymous No.8185555]

>>8185439
anime website, boomer. head on back to /pol/

[Anonymous No.8185609]

>>8185555
Don't mistake some misguided visitors/infiltrators for the true /pol/.

[Anonymous No.8185846]

>>8185442
what am i missing

[Anonymous No.8186452]

>>8184929

I always get confused with this bot, why does it say sell @ 10168, I mean for a long shouldn't the order be "buy @ 10168" ??

I dont understand the terminology

[Anonymous No.8186669]

>>8185439
Thank you.

[Anonymous No.8186683]

I like when this happens, i like when rich people lose money

[Anonymous No.8186873]

>>8184991
It's likely he used 10x leverage at 11.2k, which many bulls thought would be the bottom due to its importance as major resistance in the past (and when resistance is broken, it becomes support)
He could have also used 20x leverage at ~10.6k
Good thing I exited the majority of my longs at 11.58k for a decent profit and closed some longs last night for a small loss