When he was about x10 from his entry price he feared to lose more, so he sold everything but 1 BTC (IIRC, which i often doubt, hence my meaningful nickname).
At the time, mindrust said that he dumped
all of his BTC. All! He explicitly called himself a nocoiner.
I jinxed myself by quoting this the day before I suffered my second and third liquidations.
I am out of my position from 4550USD.
Few moments later it went from 4000 to 4800 after I sold.
I am a nocoiner now.
Only lost $2k from my initial investment but who knows how much I lost from my future profits.
I just deleted every signature gain, every fork gain I got.
Some worthy ethics there? I guess so. I hope they didn't vanish over time.
You know, one of the main reasons why mindrust pulled out was greed. He aimed at some high amount of $ per BTC, he said he would never sell below that. [...addressed above...]
This sets you apart from mindrust, though, only if the (true) motivation for your leveraged long position wasn't greed.
I agree, mindrust's goal was always to increase his fiat stash and that is the trap he fell into.
[...]
He forgot 1 BTC = 1 BTC and for that he will always be a cautioning tale.
My motive
was greed: Greed for BTC, not for fiat! How many times need I say that I calculate PnL in BTC? (Do the TA-junkie wannabe pro traders in WO know what PnL is?
)
One of my favourite price sites, which I have linked several times, is this:
https://usdsat.com/The inviolate rule of my life is that 1 BTC = 1 BTC. I have kept that rule
sacred. My problem is that I shorted the dollar; and in the liquidator bot’s opinion, dollars have recently increased in value against BTC.
I have never bought BTC with the intention of “aiming at some high amount of $ per BTC”. Never!When I first came to Bitcoin, it was for pure idealism. I didn’t even want to have money that increased in value—just as long as it didn’t
decrease in value like inflationary fiat scrip. I idealize
price-stable money: My ideal money lets you work for an amount that would buy one loaf of bread today, put the money in your wallet, and then spend it for one loaf of bread next year—or in ten years. Want more? Work more.
I did
not come to Bitcoin to get rich. If I had been thinking that way, I would now be rich: I could have bought a whale-sized chunk for a song, (undisclosed) years ago!
OOM, your lectures on “ethics” are presumptuous. Thanks duly for your well-wishes, but I am not subject to your judgment. You are prating with sanctimonious drivel to someone who has repeatedly lost or rejected financial opportunities by being too principled. My whole life, I have been like that. Recently, in the past few years, I have been slowly trying to change: To become a “ruthless mercenary capitalist”, as I called it in a recent post here. For it is awful to lack for money—you do not know how bad it is, unless you have personally experienced severe poverty and privation. Hunger is the best teacher of selfishness.
Now, I want to get rich! With no shame and no apologies, I have been trying bit by bit to embrace rational self-interest.
Finally. Alas, in this most recent episode, I have been spectacularly untalented at exercising my newfound greed.
In the same vein, I was holding BTC for years before perpetually
experiencing its “number go up” properties finally seduced me into a desire for “number go up”. BTC is infectious that way. At that point, it was way too late for me to get “Bitcoin rich” for cheap. Before that, I was basically just using a BTC wallet as an ordinary checking/savings account—not even thinking about it as an investment. Before that, I used this forum for years without ever venturing into the Speculation board (let alone WO).
Even after Bitcoin effectually corrupted my morals to start speculating on its future value, my intention is and consistently has been to accumulate BTC, hold it, use it as money, invest BTC to make more BTC, and
maybe someday exchange a portion for gold. Gold, yes—central bank shitcoins, no. I
do not want so-called “profit” in fiat currencies that I despise in principle—not any more than I need to maintain my very simple lifestyle, with which I am content. I do not want a Lambo. If I ever feel like I have an excess of spending money, then I should like to upgrade my computers, and perhaps buy some more books. When I have recuperated enough BTC to regain financial security, I will thenceforth continue accumulating BTC as an end in itself—
for the love of Bitcoin. Obviously, if I love it, I should want more of it for myself. My previous errors on that point have been corrected by watching traders, moonboys, and degens have more BTC than I do.
Some of those here who are equating me to mindrust seem to have missed most of my posts; no one has an obligation to read my long posts, but one should read before opining. Others may be passively-aggressively insulting me.
The only logical point of comparison between mindrust and me is that we both lost BTC in a crash: He threw his away, while I clung to mine for dear life as the liquidator bot closed in. I foredoomed myself to that with some foolish choices a few months ago, but I certainly did not voluntarily choose it.
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