Reconnected with an old friend and unfortunately heard his story about getting liquidated on his Bitcoin position. He lost 7 coins to leverage trading. He’s doing good now and is rebuilding but needless to say it took him to a dark place for awhile. He’s a smart guy and still very young, so this is just a setback, but still very difficult emotionally. Check on your people. 
Discussion
the worst… what about 0% credit cards? asking for a friend
Sometimes you gotta get burned to learn. I’ve been in a similar position though not that severe (no loans).
It’s not that people are dumb, the risk is just fun.
ouch, that's going to take some time to get back in the 6.15 club. moral of the story, stay humble and stack sats.
speaking of the 6.15 club, what is your best guess on how many individuals are part of said club? nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs you said you'd buy a steak for those in the club on your recent podcast with peter. just trying to help you run the numbers...
Just guessing it’s probably like 25k people
ran the numbers, quite an exclusive club. 6.15 club members account for 0.00000313% of the global population.
have the wagyu steaks ready to go for bitcoin 2024. hopefully I can get a membership to bitcoin park otherwise will have to wait until you open up the 5th citadel here in the states. keep preaching the good word of Satoshi ✌️
Fucked around and found out. Unfortunate but bitcoin cycles will kill a majority of all traders. I’m glad I realized I was always too dumb to beat the markets
Thanks for the passionate rants throughout the years. You helped me and many others avoid the pitfalls that yer friend fell for.
Damn feel for him.
I’ve been down the bitcoin collateralized loan road (not to trade, just needed cash) and learned what a margin call was 😂
Fortunately it was a small amount, but I do like to remind ppl to borrow at most 15-20% LTV, and even that can bite you, so be sure to have dry powder or bitcoin set aside, to add as collateral if needed.
Meh. I spent nearly $400K educating myself on shitcoins. Fuck Around and Find Out University is highly acclaimed. Wouldn't change a thing.
Oops 😬
You’re friends with Raoul?