Bitcoin

[Ron Resnick]

It was an impressive move today!

 

[MRubey]

 

[MRubey]

Darwin Award.
Someone dropped $8.3 million in one second.
The moral of this story?
Don’t use leverage.
The other moral of this story?
Why in the world fade one of the most powerful moves in the history of markets?

 

[Ron Resnick]

Darwin Award.
Someone dropped $8.3 million in one second.

I think you are misinterpreting. This looks like a long sale.

The owner simply wanted to realize the profit.

Typically as a market approaches an all-time high

-- it may pull back one more more times before breaching the prior high, or

-- it may blast through the prior high and then pull back sharply.

Why are you criticizing whoever took that profit near an all-time high?

 

[MRubey]

Hi Ron,
That is the liquidation list.
It’s a levered short that got liquidated.

If I’m reading this wrong I actually could not be happier.

 

[Folsom]

Sorry Ron, that is a liquidation.

 

[Ron Resnick]

Hi Ron,
That is the liquidation list.
It’s a levered short that got liquidated.

Eeeesh! Okay! Thank you.

I can understand a bearish short call spread on Microstrategy, which is now at a huge premium to NAV. But I agree with you -- not good to short an asset which seems determined to surpass its all-time high.

 

[Ron Resnick]

Sorry Ron, that is a liquidation.

Sorry, my mistake!

 

[MRubey]

No worries
Heady times!

 

[MRubey]

I finally got it all figured out!

 

[andromedaaudio]

What i learned during the time i traded (naked) options is that getting out at the right time is what makes somebody a good trader .
Timing the market is nearly impossible 95 % loose money in the end ( incl me)

The guy who could was Paul tudor Jones , these days i only do long trades / buy stocks

 

[MRubey]

I'm not a trader.
I intend to never sell, except to satisfy needs and wants.

My wife told me about a cartoon she saw recently.
10 years ago: A holder of securities was living in a nice house, a holder of Bitcoin was living in a shack.
Today: Both the holder of securities and Bitcoin live in nice houses.
10 years from now: The holder of Bitcoin is living in a castle, the holder of securities is living in a shack.
There is a young girl standing next to the shack looking at the castle and saying. "Can you believe he actually has one whole Bitcoin?"

 

[andromedaaudio]

I intend to never sell, except to satisfy needs and wants.

If you want the castle you d have too at some time in the future
You cant live in a bitcoin

 

[MRubey]

Lol, we are already in our castle!
Most people would see it as a modest house.
We actually downsized.
Easier to clean and maintain.

 

[Ron Resnick]

We actually downsized.

Did this mean less room for stereo equipment?

 

[MRubey]

Did this mean less room for stereo equipment?

No sir!
Smaller house, larger game room.