10,048 BitShares worth $1,019 for free in just 12 days.
Cryptocurrency is your lifeboat in a globally-sinking financial system.
The fiat money in your wallet and bank account is losing purchasing power. People are flooding into the cryptocurrency market where value is determined by voluntary free exchange and not by government decree. You can see this trend via the market cap rise of cryptocurrencies like bitcoin:
You don't have to sit by and watch your purchasing power decline. You can gain value simply by having value and predicting where things are going. I've talked about this before and will keep talking about it until more people like you start doing it.
- Playing in the Margins: bitUSD and BitShares on Open Ledger
- A Simple Example of Shorting the U.S. Dollar With BitShares
- 9 Day bitUSD Loan Result: 19,821 BitShares and 199 ZAPPL for Free
In today's example, I created $6,000 in bitUSD using my BitShares as collateral at a 5:1 ratio on May 24th and bought around 70k BitShares at $0.086 per share.
And then the price dropped!
Patience is Key
In order to be successful at speculating and investing, you need reserves and patience. When I saw my ratio drop down to 3:1, I added more BitShares to the margin position to bring it back to 5:1 so I wouldn't have to worry about it executing a settlement and selling my BitShares at a loss. Once the market recovered, I put things back to where they were originally at 5:1. As I saw the price go up above my purchase price, I sold and closed out the contract.
See the posts above for more information. Anyone who owns BitShares can do this, but please, keep a large reserve in case the market goes in the opposite direction. Corrections should be expected, but I think they will be temporary given the long-term trend of cryptocurrency over fiat. With enough reserves, you can add BitShares to the margin contract and ensure your margin isn't called at a price you don't want.
I hope this information is useful to you, and I hope more people create a BitShares wallet at https://bitshares.openledger.info to get involved. @ash just posted this excellent tutorial to get you started with BitShares. Check it out!
This is not investing advice.
Never speculate with money you can't afford to lose.
A debt-free investor is a confident, rational investor.
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Luke Stokes is a father, husband, business owner, programmer, voluntaryist, and blockchain enthusiast. He wants to help create a world we all want to live in.