Shorting MYX yesterday taught me a harsh lesson. This broken coin started at $0.009, but in the past 24 hours, it surged 386.8%, skyrocketed 1185.9% over 7 days, and even went up 1607.8% in 30 days. I kept increasing my short position from 0.45 all the way to 1.15, only to be held down and treated like a fool.
What’s even more disgusting is the fees; it takes 2% every hour, and with two accounts, we threw in 100,000 RMB in fees in just one hour. I lost everything on the short, and still had to watch the transaction and fee charges!
I guess I should just honestly return to value investing! But those who went long must be feeling free now, right? $BTC $