Before anyone asks...
The liquidator would have dumped much, much more than I shaved off at the bottom.
So, yes, I was lucky to sell at the bottom.
I hope that was the bottom.
I am having trouble understanding how you are in a better position for having had sold at the bottom (you are saying that you closed your margin short, just before you got force liquidated?)..
No, I didn't close my position; I only raised my health to about 2%. It put me in a much better position, because I would have immediately lost
most of my BTC if I hadn't done it. I sold a minimal amount to avoid instant catastrophe, and I avoided the liquidation penalty.
And it was, in effect,
a short of the dollar (= leveraged long on BTC).
(Partly from buying BTC on margin; partly from taking BTC-backed loans for other purposes, to avoid spending BTC.) I don't short BTC - although I have nothing against shorting BTC-PERP settled in dollars, because no actual bitcoins are harmed; it doesn't directly dump the BTC market. If you have a solid bear-market prediction and high risk tolerance, go ahead and short the perp; that's what it's there for!
Basically theres no good reason to take your life at all.
To the contrary. There are many good reasons to commit suicide.
For example, suicide is a positive virtue for the type of
filthy scum who claims that
only criminals avoid address reuse (!), and that the only reason to avoid address reuse is to hide illegal activity (!!). His suicide would remove a pollution of this world, a shame to his ancestors, a cancer in the crypto-body, and an offensive stain in the sight of whatever gods may exist. It would be an unlimited moral and practical good, with no downsides.
For another example,
suicide is obviously not only a virtue, but a moral obligation for those who short Bitcoin.What actually happened is explained at length in subsequent posts, which you will reach eventually as you catch up. This is only a note for future readers, who may happen across this page out of context.
Can you stop jinxing us, already?
Go back to posting your nattering nabobs of negativism.
He finally figured out that he is a contrarian indicator, and his intentions are malicious towards BTC. Therefore, he is suddenly bullish. Compare "reverse psychology".
He figures that if he starts calling million-dollar bitcoins within the next month, BTC will suddenly go to "its natural price of $100 PROVED BY MATH AND SCIENCE", blah blah blah.
The solution is to find a bull who always makes wrong predictions - say, a permabull who bought BTC on maximum leverage at $67k last year, and
still predicts $100k any day now - and persuade him to make a string of bearish posts now.
When you took margin longs 20 years ago as you previously described, you were shorting the dollar as priced in semi-fungible tokens called "stocks".
People need to flip their thinking about BTC. "Selling" BTC means buying dollars - going long on the dollar, and doing it for cash if you are not using margin. "Buying" BTC means selling dollars - taking a short position against the dollar, even if you are not using margin to short. Shorting BTC means taking a leveraged long on the dollar. And taking a leveraged long position on BTC is short-selling the dollar on margin: Borrowing an asset that is expected to depreciate, and selling it for money.
you are overthinking it, imho.
if you bought btc with $, you are NOT shorting the dollar if your purchase was on a straight cash basis.
Not anymore then when I buy milk using $. The notion that I shorted dollars by buying milk would be completely misplaced.
You simply exchanged one asset for another in this case, but the analogy with the home is TRUE because it is a leveraged buy (as long as you did not pay 100% in cash).
For a leveraged long on BTC, my calling it "shorting the dollar" is absolutely, indubitably correct - and much superior to calling it "leveraged long on BTC". You are borrowing a distressed asset with no fundamental value (USD), and selling it for money (BTC). That is a classic short-sell.
That is not overthinking. That is correcting people's brainwashed, dollarized mentality about prices.
When you buy BTC with non-loaned USD ("for cash"), then I am admittedly stretching the definition of a "short". But I am not stretching it by much.
When you buy milk for $ (= sell dollars as priced in units of milk), then unless it is a commodities futures trade or similar, you do not expect to profit from future changes in the dollar's value as priced in milk. When you sell dollars for BTC, you do it because you expect the dollar to devalue as priced in BTC. In the abstract, a short position is a sale with expectation of profit
from future devaluation of the sold asset. This is not only my definition; I have sometimes (rarely) seen this use of terminology in discussion of stocks, and so forth.
