Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
death_wish
on 23/06/2022, 09:39:18 UTC
This jumped out at me at a glance:

[Edited to add extra warning for newbies:  My situation is overall worse than mindrust’s was, after he threw away his bitcoins.  He sold the bottom, and Bitcoin immediately rose after he dumped; but he sold for cash, so he had cash in hand.  He could have immediately re-bought something.  He didn’t; that was his damnfool choice.  In my case, Bitcoin went down after I lost my coins—and it is still below (on average, very far below) the price at which I lost them.  However, my coins were sold by a robot to repay debt—to repay debt, and to pay liquidation penalties.  

hahahaha..

Sounds like you are blaming the robot a little bit, even though I know that is not your intention.  Fucking robot(s).

I get your joke; it is amusing.  In all seriousness, however, there is an aspect of this which I only very briefly mentioned in one prior post.

I suffered liquidations right before my eyes, as I was trying to take corrective action to avert liquidation.  Cause:  Not-on-my-end software errors.  This includes not only BTC liquidations, but also part of what got me trapped so badly to begin with:  In January, I lost a huge amount of equity in two different altcoin leveraged long accounts, as I was futilely attempting to make deposits.  (It is fortunate that I refused to cross-margin those with BTC.)

My famously big ego comes with a tendency to be self-critical.  I bend over backwards to take personal responsibility for my own decisions—such as the foolish decision to leverage my BTC.  So as for the beginning—not the end.  Objectively, there were causative factors in the actual liquidations that were not my fault, that were contributory to my losses.

Examining all the nitty-gritty details would probably be unproductive in WO.  In fairness to myself, after having beaten up on myself in so many posts about WHY, WHY DID I DO IT!?!?!, I do think that I should acknowledge in this discussion that there were other contributory factors.

For me—for my own sake—I should take a more balanced view of what happened.

For any newbies reading this, the relevant lesson is:  Not your keys, not your coins.  Once those coins are outside of your control, you could even lose them from screw-ups that are 100% not your fault.  Crying that it’s not your fault will not feel so good, when your coins are gone.



Will catch up here later (famous last words).