So you're a shitcoiner and you're wondering where can I risk my capital to earn some more yield, I have a low time preference and I want to compress 1 year's income into one bet I can place over a day, week, month and your shitcoins aren't giving you a good pump or have the liquidity to gets you to exit.
Then why not consider gambling your funds away on futures contracts or options contracts on bitcoin and taking up to 100x leverage on it using the lightning network.
If you call the pump or dump in the right direction you can make some major gains and multiply your capital by way more than you put in. This is obviously a high-risk trading strategy and shouldn't be used with a large amount of your stack, but like Matt Damon says, fortune favours the brave.
Leveraging the pump or dump
Since bitcoin is pumping I took out 10 futures contracts on 50x leverage and I am currently down around 40% on my position, but if this market turns and I can break the range I can sell my contracts for a healthy profit.
However, if the price goes below $23,781.5 I will be completely liquidated and lose all my capital
While my long position, isn't doing well, I also took out a short position of the same value and I was able to close it out in profit and score some sats for my troubles.
Since you're using the lightning network you're able to create plenty of trades so cheap so you can set multiple positions and close the out as they hit your strike price.
So if you're bullish or bearish on a certain time period for bitcoin, you can place a trade on it, and if the momentum goes your way you can make some serious gains all settled in bitcoin, instantly.
What makes LN markets cool
LN markets uses the lightning network making it stupid cheap to fund your account and you can place bets for only a few satoshis and is get if you want to learn how these products work without spending a small fortune.
What's also a bonus is if you do make a winning trade, you can cash out back to your LN wallet for sub satoshi transfers so you get to keep most of your profits, unlike other trading platforms.
Check out LN markets here and enjoy reking yourself today
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
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