Good job, whoever this was. :DD

Wew

yeah, MOST LIKELY being the key term. It could have been untold trillions. Think outside the box pussy.

17x
He lost ~$130K

By the way I'm trying to understand something.

If the fee is 0.5% and someone does 100x leverage, doesn't that mean they instantly blew away half their collateral on just starting the trade?

got it, so the person who put a long on btc said i think btc will rise above 10332 so I will purchase 2 million dollars worth of it. The price of bitcoin went below that so someone forced him to buy 2 million dollars worth at 10332?

wtf are you talking about dude lmao

He just doin' some quick maffs
youtube.com/watch?v=X09oxyIeGuY

Kek'd so damn hard, now the office thinks I'm autismo

If you leverage x100 on $100 for example and you lose, you have lost $10k bet basically? How would bitmex take the other $9900 from you? They must take it from you somehow otherwise everyone would 100x leverage at no drawback.

You go girl!

they don't you move even a little bit in the wrong direction and they assume it's going to go bad and liquidate you. so you only have a few dollars of error.
i remember reading a section on bitmex, and in very rare cases sometimes they can't recover what you've lost, so there's a "community" insurance/loser fund or some shit like that that will clear it for you. since it's not like stocks where if you lose big on margin, you'll be hounded by debt collectors for years.

You get liquidated if it moves 1% in the wrong direction so you lose 100% and they lose nothing

There have been tens of millions lost on BitmexRekt this evening:
Liquidated long on XBTUSD: Sell 3,827,026 @ 10292.5
Liquidated long on XBTUSD: Sell 2,141,974 @ 10356.5
Liquidated long on XBTUSD: Sell 2,787,730 @ 10364
Liquidated long on XBTUSD: Sell 2,935,881 @ 10383.5
Liquidated long on XBTH18: Sell 2,025,000 @ 10350
Liquidated long on XBTUSD: Sell 2,359,515 @ 10419
Liquidated long on XBTUSD: Sell 1,269,476 @ 10433
Liquidated long on XBTUSD: Sell 1,947,000 @ 10492.5
Liquidated long on XBTUSD: Sell 2,633,606 @ 10452
Liquidated long on XBTUSD: Sell 2,884,314 @ 10462.5
Liquidated long on XBTUSD: Sell 1,078,849 @ 10480
Liquidated long on XBTUSD: Sell 5,371,575 @ 10506.5
Liquidated long on XBTUSD: Sell 2,685,746 @ 10517.5
Liquidated long on XBTUSD: Sell 1,509,312 @ 10574.5
Liquidated long on XBTUSD: Sell 5,407,468 @ 10616
Liquidated long on XBTUSD: Sell 3,488,286 @ 10637.5
Liquidated long on XBTUSD: Sell 1,843,482 @ 10709

Poor fucking cucks. Got rekt hard.

Thanks lads, so these guys getting rekt on bitmex arent actually losing millions?

the 17x thing is just a meme that the bot posts
we don't know for sure the leverage used

the amount of dollars you put in to the trade (the $100 you are talking about), is the collateral. So a $100 dollar short has a very tiny margin, if btc has a tiny spike upwards, you're being liquidated. But if you open a short position with $10,000 as colleteral and a x100 leverage, you have some room. So you open a short position when bitcoin reaches 12K with a 100x leverage, and bitcoin goes to 12.800 first, you're not getting liquidated. I hope you understand it, my english isn't very good.

I am fucking retarded when it comes to this. When does liquidation trigger with both longs and shorts? Its basically borrowing money right?

In many cases, it's not only borrowing money, but pure gambling.

...

>So you open a short position when bitcoin reaches 12K with a 100x leverage, and bitcoin goes to 12.800 first, you're not getting liquidated
wrong

Depends on your margin surely?

sort of. Another 'shorting' example: i borrow a BTC from you with a $500 margin in my margin balance. I now owe you 1 BTC. I instantly sell this BTC for 10350 USDT and buy back that BTC, when it drops to 10000. I'll give you back that 1 BTC and now have $350 profit. Lets say BTC moved to $10900, i still owe you 1 BTC so the margin position automatically kicks in to compensate for your BTC. In this example i had a $500 margin in the balance. I will get liquidated if it reaches $10900 because you still have to get that BTC. sorry for the english

But how does it work exactly? Say btc is 10000 now and I think its going to 7000. I open a short position for 7k with 10x leverage. What happens if it hits 7k and what happens when It stays at 9k. Does it say times up you're fucked? How long untill i am fucked or can i keep the short open for as long as I want?

I know i'm retarded.

if you add to your margin then you're lowering your leverage

oh wow someone lost 20k big deal

Thank you for the explanation user. I kinda get how it works now.

ikr the world it is not anymore the way it used to be!

you have to open it at the price you want to short/long from. you would short at 10k and try to close at 7k but you can close whenever you want

So in my retarded example I can close the short at 9k and still profit? Meaning I am only fucked if it goes above 10k?

if your margin is X you get liquidated when the underlying asset moves Y=(1/X)*100 % in the opposite direction
i.e.
x=100 margin->liquidated at (1/100)*100 = 1 %
x=50 margin -> liq at (1/50)*100 = 2%
x=2 margin -> liq at (1/2)*100 = 50%
etc etc

notice that this totally independent of your stack size - so doesn't matter if u have 1 or 1 million $

17x means it's the 17th long liquidated in a row

mm nonono

Please leave