Bitcoin Forum

A Bitcoin speculator has just closed a 100x short position for a profit of 12,801.53%. He opened the short at $19,665. Is this the best trade known as a percentage gain?

Well, for sure a stratospheric performance, but i think he had to pay cost for swap and rollover....

Also , on derivatives this kind of profits (eg. 10.000% or more) could happens frequently, expecially is you hold a position for long time.

I'd definitely like to know who this guy "Crypto Fungus" actually is, and I'm totally unable to find anything about him on Google or Twitter. I think it'd be great if you could add some details about him in the OP of the thread.

About the "12800%" profit, if someone's showing you an image as a proof, don't forget that it could easily be edited. This could also only be a tactic to gain "followers" or something, BTW.

Well, as i wrote on leveraged trade is "relatively easy" make huge profits, but the easiest thing is lose all  :(

From my experience i'm not wondering about read this... From number, assuming he closed at 3365, he had traded at around 150% leverage.

I picked up the info while I was watching a report by a crypto trader on YouTube. He stated that there were quite a lot of comments about it on Twitter and YouTube. I'll try to find the video I watched.

He did post a report, and it was edited, as he had taken out the investment amount and the return. I am sceptical of these claims. I remember a guy claiming that he was getting over 50% profit from buying UK National Lottery scratch cards, and he showed images of his winning cards. I always believed that he was buying large numbers of cards, and throwing away the losers. In reality he was just trying to buy popularity and adulation.

I am prepared to divulge the fact that it wasn't me in either case.

Without any context to indicate otherwise, I'm just going to assume this is part of an "I know how to beat the market! Pay me to learn my secrets!" scam that's always popping up in one form or another. Be careful, people.

True; the worst part is, some people really do get fooled by such edits. I just edited my long at BitMEX and:

Hey! I'm up 13067% in this bear market! Pay me just 0.05 BTC and get my signals regularly! ;D

https://i.imgur.com/8fOSkyM.png

P.S. forgive me for mathematical errors in the edit!

I did a search on YouTube, and I managed to find an interview with a guy called cryptofungus. The video is over an hour long, so I just skipped through it. I did find a section where he says that he never uses more than 4x gearing, so he can't be the guy. Most of the other videos were about toe rot, so they probably aren't relevant. Well that is if 100x traders don't bite their toe nails of course.

I do not think this specific case is truth. I have tried searching on those bots that show some positions and didn´t find this case.

https://twitter.com/bitmexwhale
https://twitter.com/bitmexrekt

But there are some people that makes insanity profit using Bitmex leverage. It is easy to check their leaderboard, some of them use their real name and offer courses or things related to trade.

https://www.bitmex.com/app/leaderboard

Splash-Alpine-Twister has an ROI of 382061.19%

I just read in the news today a guy made over $22 mil by shorting BTC during its peak. That amount of profit!

https://www.investinblockchain.com/the-ultimate-bitmex-guide-beginners-2019/

Here is a note of caution.

For every dollar of profit that these guys made, somebody had to lose a dollar ( plus costs). Just be careful if you are opening highly geared positions, you can be wiped out ( REKT ) pretty quickly if your opinion is wrong by a very small margin.

A good trade no doubt, yet you should consider that it took "x" months to achieve it, with at least quite a bit of risk at the beginning. And yes, futures is a zero sum game, speaking of which, one of the best abilities that a person may have is to judge when a situation is a competition and when is better to collaborate.