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Author Topic: Chinese investor loses $400,000,000 in Bitcoin  (Read 480 times)
First77
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June 28, 2018, 05:12:47 AM
 #1

He had some 100,000 Bitcoins on March 2018 when Bitcoin was $10,000 to $12,000. Now Bitcoin is $6,000

Read:

At least one individual in China took the term “HODL” to heart as his or her Bitcoin wallet has seen a total of 93,947 BTC transferred to it since March 25, 2018. The wallet’s address is 1KAt6STtisWMMVo5XGdos9P7DBNNsFfjx7 and it currently possesses 85,947 of the total amount in Bitcoin that it originally had, after selling exactly 8,000 BTC off.

Read more: https://cryptovest.com/news

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June 28, 2018, 06:01:02 AM
 #2

He had some 100,000 Bitcoins on March 2018 when Bitcoin was $10,000 to $12,000. Now Bitcoin is $6,000

Your calculation is wrong. He would have lost that much if he would have sold. You know the profit/loss only when you are on the same coin i.e. after conversion is done for real.
He sold only (heh, only?!!!?) 8 000BTC of the 100 000 93947BTC. If Bitcoin falls more and he sells, he'll lose more, if Bitcoin recovers before he sells, he will not lose anything.

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jseverson
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June 28, 2018, 12:56:06 PM
 #3

Just because he had close to 100k Bitcoins in March doesn't automatically mean he bought them all in March. If he had bought at any point pre-December 2017 (all time high at that point was around ~$5k), he'd still have made at least ~$8 million dollars in profit by selling off 8k coins.

If nothing else, this scenario puts into perspective how well Bitcoin is doing despite the bear market. Same time last year, Bitcoin was trading for around ~$2k if I remember correctly.

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June 28, 2018, 01:00:12 PM
 #4

If we are going to calculate all Chines investors and individual who invest in Bitcoin it would be billion dollars now, remember that reports on surveys doesn't include individual persons who bought Bitcoin during the high peak.

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June 28, 2018, 05:58:50 PM
 #5

The Chinese investor bought 100,000 Bitcoins and the later the price fell. There are more sellers.

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June 29, 2018, 07:34:00 AM
 #6

He didn't sell his bitcoin. He didn't loose his money yet. The price is low now and if he sell it, he may lose his money and even if he would have sold it then the amount would be much more less than what you've calculated. So, holding the coins is the best solution to this situation. I hope he would go with this.

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June 29, 2018, 07:39:32 AM
 #7

I remember there being news about this, people noticing that somebody had purchased 100,000 bitcoins during the dip, not sure how they worked out it was a Chinese investor though, unless somebody previously claimed ownership over the account and then proved it. I guess we're lucky he's not selling out, because that amount of coin could just crash the market on its own.


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June 29, 2018, 07:50:52 AM
 #8

It's hard to know where to go on the organizers. Only fear everything is game shark to lead us to the instance.
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June 29, 2018, 06:53:43 PM
 #9

A news is being heard that a Chinese investor has already lost approximately 100000 bitcoins i.e. about 400 million USD worth of botcoins. Not a good news to hear actually.
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June 29, 2018, 07:19:29 PM
 #10

So you think the he lost the amount just for the huge drop. Well, I think if the amount of bitcoin is still with him, he still has the chance to will more than he is thinking lost.
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June 29, 2018, 07:41:09 PM
 #11

The crypto currency market can turn out quite profitable for investors, but then potential risk of losing invested money exists. If the investor does not have good strategy and beforehand planning with good market knowledge, the investor will face a loss. The same has probably happened to this investor, but this doesn’t mean this market is a complete loss, a good strategy and timing can bring large profit.
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June 29, 2018, 07:56:02 PM
 #12

He didn't lose the money yet. I hope he sell it when the price rises high
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June 29, 2018, 08:07:08 PM
 #13

What if he got that bitcoin when it was below 4 digits? So its not a lost on his/her end. I'm sure that that person is a good investor and maybe offloading is a good thing for and that person still profits a lot even though he sold when bitcoin's price is $8K. And he has still a bag full of it, and so I don't think that he will sold again at this price. So there's nothing wrong in holding it out and when bitcoin make another bull run and even touches 5 digit again, that person will make a huge profit again and as if nothing ever happens.

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June 29, 2018, 08:23:40 PM
 #14

That's a stupid assumption OP. The fact that he transferred that amount to the given address doesn't mean that he had bought the coins right at that moment. What if he bought his coins in November 2017, held on an exchange until the value was right, sold at 20k, withdrew fiat profit and bought more cois again? He may be sipping drinks on his yacht knowing that he still has valuable coins and his fiat is back in the bank.
What's the point of this story? Are you trying to scare holders?
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June 29, 2018, 08:54:06 PM
 #15

investing iin bitcoin is also part of thier business. chinese is very meticulous when it comes in business. so if they have that huge amount aof bitcoin. i think they sell some but not all, chinese has good strategic when it come to business so when the price is slowly down they sell some and dodl the rest.

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June 29, 2018, 09:29:56 PM
 #16

The investor in subject didn't loose much if you ask me cause I checked wallet transaction information the investor still buy some bitcoin after the all time high price I mean he/she still invest last month and this month either. So, I won't say he/she loose any investment yet if wise enough.

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June 29, 2018, 11:52:10 PM
 #17

Maybe he sold some because he found a better investment or with a small profit, even a 1% profit is a huge amount when we see the number of sold Bitcoins.
I think he is not too stupid to sell now and he is planning to hold until the right moment.
A person investing such huge amount of money can't be that stupid.

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June 30, 2018, 12:01:17 AM
 #18

Maybe he sold some because he found a better investment or with a small profit, even a 1% profit is a huge amount when we see the number of sold Bitcoins. I think he is not too stupid to sell now and he is planning to hold until the right moment. A person investing such huge amount of money can't be that stupid.

Yes, 5% bank interest for $5,000,000 = $250,000/year (100% safe and insured). Gold and Silver give average profit of 8% to 20% per year and it is safest investment for next 100 years.

There is $10 to $100 worth of Gold in each Computer processor (Intel, qualcomm, celron etc..)

There is 20 grams Silver is in an average sized solar panel. That runs world economy, business and trade.

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June 30, 2018, 12:08:00 AM
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He had some 100,000 Bitcoins on March 2018 when Bitcoin was $10,000 to $12,000. Now Bitcoin is $6,000

Your calculation is wrong. He would have lost that much if he would have sold. You know the profit/loss only when you are on the same coin i.e. after conversion is done for real.
He sold only (heh, only?!!!?) 8 000BTC of the 100 000 93947BTC. If Bitcoin falls more and he sells, he'll lose more, if Bitcoin recovers before he sells, he will not lose anything.

that's it if i have it i will be happy .. it is a very exciting amount .. !!

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June 30, 2018, 12:17:47 AM
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Cryptocurrency is actually a business, so we don't expect too much that all people here who joins are much on gaining, we consider the fact that sometimes there are also situtions that happens into several forms of capital losses. This business is actually a very lucky and giving more opportunity and chances to the people but it needs also more time and efforts with good strategy and timing in order to avoid any risky things to happens.

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