The bitcoin time machine

[Erdogan]

Best time to plant a tree is 20 years ago. Next best time is now. Try that.

C

The bitcoin time machine: In stead of buying X_BTC now, buy 10X_BTC leveraged 10 times.

You have to assume the rise will continue. Which it will.

People do it all the time with houses, cars. That's even more risky.

[TERA]

Where do you get 10x leverage? Is that the one that Bitfinex offers if you have $100K in your account and you send them a special email request?

This also requires that you not only trust
a) that bitcoin goes up, but that
b) bitcoin never retraces to a mere 10% under your buy-in (where you are liquidated)
c) your exchange doesn't steal your money   (kind of defeats the point of using bitcoin to trust an exchange)

[Tzupy]

...b) bitcoin never retraces to a mere 10% under your buy-in (where you are liquidated)...

Exactly. All it takes is a 10% temporary price drop and you'd lose ALL your trading funds.

[TERA]

using leverage like that is awful. imagine a silk road like black swan event where the price drops for one day to liquidate you and then immediately rallies into the next ATH rise.

[Erdogan]

You can make loans independent from bitcoin. Some credit card cascading. It has been done. A resistance level would be you need to make sure you can afford the recurring payments from your month to month earning. Take responsibility, but it can be done. It is almost like going back a year.

[TERA]

^ This removes one risk while adding another - You could end up in a massive pile of 10x debt rather than simply blowing your account.

[Erdogan]

^ This removes one risk while adding another - You could end up in a massive pile of 10x debt rather than simply blowing your account.

Ask yourself, does it feel riskier today to venture 10KUSD₂₀₁₄, than 1 KUSD₂₀₁₄ last year?

[piramida]

trading bitcoin with leverage, including shorting, should be listed under the stupidest inventions of the last two years. it's like riding a bull, but instead of doing it in the plain field you choose minefield because better grass there. good luck

[Krabby]

^ This removes one risk while adding another - You could end up in a massive pile of 10x debt rather than simply blowing your account.

Ask yourself, does it feel riskier today to venture 10KUSD₂₀₁₄, than 1 KUSD₂₀₁₄ last year?

yes*10^2

[Erdogan]

^ This removes one risk while adding another - You could end up in a massive pile of 10x debt rather than simply blowing your account.

Ask yourself, does it feel riskier today to venture 10KUSD₂₀₁₄, than 1 KUSD₂₀₁₄ last year?

yes*10^2

In that case it is not for you.

[Krabby]

^ This removes one risk while adding another - You could end up in a massive pile of 10x debt rather than simply blowing your account.

Ask yourself, does it feel riskier today to venture 10KUSD₂₀₁₄, than 1 KUSD₂₀₁₄ last year?

yes*10^2

In that case it is not for you.

You're wrong sir.

[Erdogan]

^ This removes one risk while adding another - You could end up in a massive pile of 10x debt rather than simply blowing your account.

Ask yourself, does it feel riskier today to venture 10KUSD₂₀₁₄, than 1 KUSD₂₀₁₄ last year?

yes*10^2

In that case it is not for you.

You're wrong sir.

No comprende. If you thought it was too risky last year, and think it is a hundred times riskier now, it is not rational to invest 10X now compared to what you considered, but did not invest last year.

If you think the risk has fallen by a multiplier of ten, you could do it. If you consider it low risk, you can leverage. It's not like you die or will be condemned to poverty for the rest of your life if you loose, even if you get negative equity. (Then there is always bankruptcy).