Type F to pay respects to the Kaiji user with a 2.2m contract short from yesterday

Type F to pay respects to the Kaiji user with a 2.2m contract short from yesterday

twitter.com/BitmexRekt/status/969390689170714625

His thread from yesterday

>I'm going to bed, no stoploss for me. I believe in the downtrend and I won't be JUST'd by my stoploss hitting on a bounce.

Rest in spaghetti, never forgetti.

Bearfags btfo again. Seriously tho user I’m sorry if you’re still alive to read this

F

S
gambler.

I just started using Bitmex. I have a long position on Bitcoin. Can anyone explain to a brainlet why when I add my whole balance to my margin position (I assumed this would be the standard thing but apparently not) the liquidation price drops? Makes no fucking sense to me. If your margin is increased and you stand to win so much more why do your chances of being liquidated drop too?

If your position is favourable why the fuck wouldn't you just go all-in on a 100x leverage, since your chances of being liquidated are lower and your gains will be so much higher? I'm having trouble wrapping my head around this.

Also on the wallet balances page it says my margin is on 0.93x Leverage?? Wtf is that about? My leverage is currently set to 100x

is margin trading just gambling?

Simply because of the insane volatility, even if you're correct you have a big chance of getting liquidated on any inevitable bounces

guy probably lost 2 btc with that 2000x margin

It wouldn't be in a rational, regulated market. Since whales can move the price at will, it is just gambling though. You cannot predict crypto.

The whales are swinging bitmex according to what suits them best. If 98% of people go short/long, they will bring the price in opposite direction and liquidate with no survivors.

this one has always been my favorite

I feel bad for him. He lost money because of Bitfinex's pump bot being on full power artificially inflating the price of bitcoin with fake money. :-(

bane?

I guess... its just that the price of liquidation drops so much when you add to your margin position it's like a huge incentive to go all-in.

Do you have any idea why it says "100% Margin Used 0.93x Leverage" on my Account/Wallet tab?

It's because you added to your position when the price was lower, so the average of your whole position becomes lower, which means the liq price drops too.

Also, I'm going to tell you right now even though I know you won't listen: stop using high leverage, or you will lose it all sooner or later. 10x should be your maximum. Stay the fuck away from anything higher.

Well, he's really become Kaiji now.
F

I added when the price was higher than my entry though.

Wait, is that 2.2M BTC? Dafuq?
Is that a legendary 22k BTC x100 leverage all in?

RIP