Bitfarms: BITF 10,000 $ YOLO : Journal Update Day 1

2021.10.27 15:19 Russell_vi Bitfarms: BITF 10,000 $ YOLO : Journal Update Day 1

Gentlemen, here comes the first update of many as I and one of my closest companions embark on a YOLO investment into Bitfarms. To start I should elaborate on our positions, the huge sacked man I am going in and bought 1750 shares, and 20 5$ calls 10 expiring in December the remaining 10 in February. My companion, well call him Dimbledorf went in a far less long schlong position and bought a mere few hundred shares and 10 calls, 5 into each respective date.
Now that the background is covered, let's dive deeper into the why. Why did I choose to risk 50% of my portfolio into a Canadian-based Bitcoin mining company? That's a great question which I simply only can refute with that I am first at my core, an ape. Backed by firm love for bitcoin and all its creations, yet the desire to do more than a mere 2x in the remainder of Q4 I hence take on a more risky position. A BTC mining company. The technicals look pretty solid, the Stochastic RSI looking to enter oversold territory on the weekly chart, similar to the MACD we are looking to enter some nice positions. Lastly, Hut 8 mining and Mara have been enjoying a nice green October while BITF has been left in the dust, leading me to believe it will have its turn, much like every kid gets to have their turn on the jungle gym, no stock left behind!
The next explanation I owe you fellow Redditors is what is my goal? At what point will I exit my positions? Well first, I will never sell in the red, worst comes to worst and daddy regulation comes in and obliterates the crypto market, I, like a captain of a ship, will go down with it. There is no abandoning ship, this is a one-way ship to the moon or die trying. God willing, I enter the green I will brave the seas of profit into I say this now, a minimum 3x of my money. I didn't come all this way to call myself a boomer and sell up 20%, I came to ride this rocket to the moon and be one of the many cryptonaut's to reach the long-desired, infamous moon. This is the first of many updates to cope the deep anxiety that is building in my stomach as I contemplate my whole life with every tick of the stock.
A little background on me while I keep my identities anonymous much like Batman and Robin. I myself am a simple college student, who unfortunately plays tennis for the fabled discount on that college tuition. (Thank you NCAA.) However, soon I will exit this black hole of my life and open my own landscaping company where I can be free and roam the wilds, much like Marley from Marley and Me. Dimbledorf, my Robbin, is a simple man who works construction from day to day and trades in the night. A successful man no less, owning his own company. We hold hands and brace for what is to come, and we invite you to join us along our perilous journey.
Dimbledorf and CryptoSimpleto over and out.
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2021.10.27 15:19 Horror-Confidence-24 Questions without answers....

What if crypto exchanges are the whales..
What is stopping them from causing these cascading liquidations?
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Who profits from the cascading liquidation events?
Why does access to exchanges stop in times of price drop?
Why when prices are going up are you unable to withdraw coins?
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I only use them when i have to...
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