Both. I try to keep my long term account pretty static in terms of amount owned. But my day/swing account is where I have too much. Starting shedding my 10k positions already, but really looking for the 13's and 14's again as I had a bit too much confidence in the 11k mark. Just now getting to even on those positions.
I was reading some horror stories on r/bitcoin the other day. Some poor guy went from 3 bitcoins, to 300 bitcoins, then lost it all!
Here is that bitcoin horror story I mentioned: https://www.reddit.com/r/BitcoinMar..._lost_nearly_200_btc_trading_this_past_month/ So, long story short, I started trading a year ago, been margin longing the whole run from 1k to 19k ( sometimes closing the top, sometimes closing too early or too late, but always making profit) I turned 3 lowly btc which I had from playing poker (at the time 3k) into nearly 200 BTC which was almost 4 million at the top and would be 2 million at current prices. I thought I was a trading genius, a god, whatever. Anyway, this is where the sadness starts. After the dump from 19k to 11k I went long at the bottom, and kept adding to my position on the bounce to 12k 13k, 14k. Then, at the 16k dead cat, my position was a further 100 BTC in profit. Instead of closing then and having a total 300 BTC, I increased leverage and increased my position size. This entire position was liquadated on the drop back to 12k, because my entry had moved up so much. I lost 100 btc paper profit and nearly 50 BTC margin. I was devasted, and down to 150 BTC total. After evaluating the situation, I came to the conclusion that the pump to 16k was a dead cat and that we are going lower. Therefore I shorted. At 12k. Added at 13k. Added at 14 and 15k. Got liquidated at the top at 17k. Another 50 BTC loss. Down to 100. Think, ok we made a higher high at 17k, uptrend back on. Went long. Got liquidated at 13k. 50 BTC left. Devastated, unsure, no clue whats going on. Sat through the drop to 9k, when we bounced I thought it could be the bottom. Longed at 11500, panic closed 10500. When we went to 13k I was kicking myself for panic closing, went long at 12800. Liquidated this morning for my last bitcoin. 3 BTC to 200, to 0 At this time I am still in shock, the last few months Ive neglected relationships and school, and Ive been daydreaming about living the high life rich as fuck with my millions. Now, I am nowhere. Posting this so others dont gamble away life changing money. Dont want donations or tips not posting an address dont PM me. I never want to hear the word btc again because I want to forget
Japanese cryptocurrency exchange loses more than $500 million to hackers Source: https://www.msn.com/en-us/money/mar...-than-dollar500-million-to-hackers/ar-AAvdhOn Hackers stole several hundred million dollar's worth of one lesser-known cryptocurrency from a major Japanese exchange Friday. Coincheck said that around 523 million of the exchange's NEM coins were sent to another account around 3 a.m. local time (1 p.m. Thursday, ET), according to a Google translate of a Japanese transcript of the Friday press conference from Logmi. The exchange has about 6 percent of yen-bitcoin trading, ranking fourth by market share on CryptoCompare
Coincheck to Repay Users Who Lost Money in $400 Million Hack Source: https://www.msn.com/en-us/money/mar...st-money-in-dollar400-million-hack/ar-BBIjrlV Japanese cryptocurrency exchange Coincheck Inc. said it will use its own capital to reimburse customers who lost money in Friday’s $400 million theft.
Amazing that they have $500M lying around that they can do this. Also amazing that they are doing this in order to stay in business.
Ever since Mt.Gox, the Japanese government has put into regulations that all the licensed crypto exchanges are required to capitalized like banks.
I mentioned this a few weeks ago: ‘Without this bitcoin price would collapse’: Fears grow over tether ‘printing press’ as auditors part ways BITCOIN’S price could crash by up to 80 per cent if this scheme unravels, experts have warned. And the signs aren’t looking good. BITCOIN could crash up to 80 per cent if it turns out the price has been artificially pumped up by controversial crytpocurrency tether, analysts have warned. Tether, a so-called “stablecoin” which aims to maintain a value of one US dollar per tether, has been described as the “ticking time bomb” of the cryptocurrency world which could trigger the next “bloodbath” similar to the 2014 collapse of the Mt. Gox exchange. http://www.news.com.au/finance/mone...inting-press-as-auditors-part-ways/news-story
