A year ago I advocated this “riskless” strategy on HN… if anyone actually listened to me, would you be up 1,000,000% right now?
For example, at Kraken the margin cost is currently typically 0.02% per 4 hours. This is not something you want to maintain while waiting for an event that could take years to materialize. And that's for modest leverage (up to 5x), I imagine it's even more expensive for the 100x leverage you were looking for.
https://support.kraken.com/hc/en-us/articles/206161568-What-...
If you meant that seriously, it’s extremely poor quality advice. Leverage is neither free nor cheap. And taking 100% leverage is obscenely risky. Your characterization of it as ‘risk free’ is the most dangerous part. At 100% leverage, small swings could lead to calls you simply cannot afford.
I never thought I’d see it actually happen, and I’m kind of blown away I’m in the same thread. It’s actually possible for the hardcore believers to snap out of it, and that’s the unquestionably greatest thing I’ve heard in three long years. There is hope. I was genuinely starting to wonder.
Note that this isn’t personal and I had no idea who he was until five minutes ago. I just type some shit in the username box every time I sign up.
Any suggestion that such glitches could have been engineered by the exchanges who are closely connected to Tether is, of course, nothing but malicious slander.
Welcome back buddy how’s it feel