I’m truly sorry for Bro. But this is a stark reminder that you should never use leverage. Just DCA and HODL. We’re still very early, and #Bitcoin will be worth millions. Patience is key.
Discussion
💯 Borrow in the FIAT system if you can have a good interest rate. Do something like "buy bitcoin now and pay FIAT later" knowing that you will have the necessary income to pay back the loan.
So they are in the same boat as 90% of Americans right now. Starting from zero or less than. At least at 36, there's still a chance to catch up.
Help me out here... What's a hypothetical leverage scenario where a 12% drop in the underlying leads to COMPLETE liquidation?
Does that imply this guy levered his entire stack up 9-10x??
In my search to understand the #btc world.
Noob here, could you please explain it what is leverage? It sounds scary. I hope this guy is ok.
#asknostr what actually happened and why did he lose everything?
Many will tell you to buy the dip or simply stack sats. While that approach works, it’s often slow and frustrating, sometimes pushing the impatient toward risky moves.
For me, trading Bitcoin ETF options is a faster and less risky strategy for those looking to efficiently build wealth given the current pace of Bitcoin’s price growth.
Consistently stacking USD and IBIT shares for trading works. It helps you build wealth that can be saved in Bitcoin once you’re able to take out a loan against it.
Leverage always comes with a trade-off. And that trade-off is risk.
Facts. Leverage kills, HODL heals. 🧘♂️ #Bitcoin
No leverage ever
Not worth the risk
Всякий раз, когда цена вот так падает, я представляю, как монетки просыпаются из рук нетерпеливых,жадных и капризных мальчиков. Заботливо подбираю все, что успеваю собрать.
I have to admit I have lost ~0.4 Bitcoin in this liquidation (~ half of my "degen" stack liquidated at 104 and 101k..)
I should have stayed humble and stack sats. Not only sats lost but also lots of time wasted...