What happens in Vegas, stays in Vegas, or so the saying goes... I’ve never been to Vegas, though. Hell, I’ve never even been to America, but I know what gambling feels like. Spoiler: it never feels good...
Sure, every now and then, you might get lucky a couple of times. The house might "decide to reward you," but at the end of the day, as a gambler, you’re always gonna lose. I don’t know anyone who’s made a fortune from gambling.
I don’t know about you, but I got liquidated this weekend. Lost $40 on a BTC long, and I’m... fine, I guess. I should’ve spent that cash on something fun instead of leveraging long on BTC when it dumped to $116,000. Who the hell thought it’d slide into the low $100,000s?
I sure as shit didn’t know that, but you know what? I’m okay with the loss. However, as you might’ve seen online, the total liquidations over the weekend hit something like $20 billion.
That’s a fuckton of cash... Some folks lost fortunes during this bloodbath, while others made an insane amount of money thanks to Trump. Like that whale who opened a nearly $1 billion position just before Trump started tweeting shit about China.
I’d bet my ass that was an insider. Who knows, maybe even his own son. While a few managed to cash in on this move, others literally lost everything over the weekend.
The carnage was unreal. There’s this guy, Konstantin Galish, a Ukrainian who co-founded Cryptology Key and managed over $65 million in crypto assets. I’m guessing he was playing with clients’ money, ‘cause he was found dead in his Lamborghini Urus on Saturday.
They say he killed himself, but we don’t know for sure. Either way, it’s heartbreaking to hear.
No amount of money is worth taking your life over. It got me thinking: how much money is actually enough? I was scrolling through X the other day and saw traders who turned a few thousand bucks into millions, only to lose it all in yesterday’s black (orange) swan event.
Isn’t $20 million enough? I mean, I’d probably retire with just one million. I don’t need much and would rather have a peaceful, stress-free life than all the millions in the world.
Call it what you want, but to me, leverage trading is straight-up gambling. I get it—charts can predict events, not the other way around—but there’s always gonna be extreme volatility that wipes out positions. Meanwhile, spot holding, while less rewarding, is definitely safer. Shitcoins used to be a damn blessing in past cycles; now they feel like awful curses...
Have a great day, everyone, and I’ll catch up with you all next time.
Thanks for your attention,
Adrian
