You have a brain the size of Mars (or at least the size of Dogecoin). You look at the cryptocurrency market. It’s unstable. What do you do? Right, you plunge into a $300 million short with leverage that would be enough to lift Everest.
@qwatio, the new hero of economic extremes. A person who looked at Bitcoin and said:
«I will bet everything against him. And even a little more.»
The rules of the game are simple:
You open a short position worth hundreds of millions.
You add 50× leverage because why even have margin if you can lose it?
Then you roll the profit (if there was any) into even crazier positions, as if the casino gave you a 'double down'.
And here comes @AguilaTrades…
…who has already lost $40 million because, in his words, 'the market went the wrong way'. Of course! Perhaps the market just didn't understand your genius plan!
Today their portfolio is $86,000 and a dream. Yesterday, it was tens of millions. Everything evaporated. Like faith in centralized exchanges after another 'technical failure'.
What makes this plot better?
@qwatio had already lost $25 million before, just because he opened a short with liquidation almost immediately after hitting the 'open' button. He was literally trading millions of dollars as if he were playing 'Minesweeper' on Windows 98: one wrong click and… boom!
And yet, why do they do it?
Adrenaline, Twitter likes, the chance to make it into the news feed and be the hero of 'margin madness'. Or maybe just because the real world is too boring without the risk of liquidation every 5 minutes.
Who is the real crazy one? The person who buys BTC at $68,000, or the one who opens a $300 million short just before the next rally?
Both are geniuses. One in comedy, the other in tragedy.
