Chapter 220: Can't Understand English
It will be difficult for them to increase the number of chips in their hands, but the chips will be converted.
Originally, only 30% was loaned out, which was within their acceptable range.
Now it has directly become 50% or even more.
Even though the price of Bitcoin is over 50,000 US dollars, the actual amount of money in it is less than 150 billion.
Calculated based on the total 21 million coins, the market value exceeds one trillion.
Based on the 13 million coins mined so far, the market value is 650 billion.
As the biggest banker, they can still gamble!
But it was only a few hours.
If all short positions cannot be completely eliminated in these few hours, it will be very troublesome later.
It has attracted too much attention. Once the whole network spreads the news that short selling is impossible, it will make people feel fearful.
The price is over 50,000 USD, and you can’t short it? Why would you participate?
If no one participates, it means they will not be able to make money, and in the end all the chips will be left in their own hands.
It is imperative to close the current short positions as soon as possible, lower the price, restore the short selling channel, and allow more funds to participate.
Otherwise, if all the short positions are eaten up, they will not make any money, at most they will not lose much.
After planning for so long and mobilizing so much money, they cannot accept this situation.
So... fuck!
They began to mobilize funds and continued to push up...
At the National Big Fund, even though it was already three o'clock in the morning, five or six people were still sitting in a small room.
Everyone was smoking, and even though the exhaust system was running, the whole room was still filled with smoke.
There was a large screen in front of them, with the price of Bitcoin displayed on it.
When they saw Bitcoin surge to $50,000, they already had the quick-acting heart-saving pills in their hands.
Because if it goes a little higher, it means that Kingkong Capital will be liquidated.
Fortunately, a large amount of funds suddenly came out and distributed a large number of chips to those guys whose positions were liquidated, thus stabilizing the price.
The situation has improved a lot compared to the beginning, but it's still not good overall.
The big dealer inside is obviously determined to bring down Sky Capital.
Just at this moment, there was a knock on the door.
After a few knocks, the door was opened.
A young man said, " Leaders, we just received news that all major platforms have closed the Bitcoin short-selling channels, including Morgan’s."
As soon as these words came out, the hot-tempered man stood up directly.
"This is just hooliganism!"
The lack of a short-selling channel means that Kingkong Capital has completely lost its help.
No matter how capable Li Yuan was, he could only stare blankly at this moment.
"You don't even care about your face anymore!"
They had never been so angry.
Originally, Kingkong Capital had already won and only needed to sell the contract, but they were tricked.
Turning from long to short now is a helpless choice. I just wanted to get back part of the profits, but the other party still didn't give me the chance.
In the game of chess, whether you win or lose, you will naturally accept the consequences. But the tricks you used just last time are here again?
Selling contracts was not allowed before, and shorting is not allowed now.
Why don’t these Western capitalists just rob us directly?
Everyone looked unhappy, but some people didn't express their anger.
The inability to short sell means that there is almost no force that can suppress it.
The collapse of Sky Capital was inevitable.
If the dealer does not take over the chips immediately after the margin call, all the short positions in the hands of Kingkong Capital will be converted into long positions, which will drive up the price wildly and cause losses.
"I'm afraid I really need to pay more..."
"If they dare to play like this, don't blame us for not giving them face! I don't believe that they have been treated like this and there is still no explanation!"
The worst that can happen is that you're shameless!
At worst, they can just stand up in the name of a large national fund, which will only lead to punishment, which will make many people feel unbalanced and damage some of their credibility.
After all, the government has banned the use of virtual currency, but they chose to get involved personally.
There will definitely be some people who feel that the government is blocking their path to wealth.
It’s just like if a risk warning has been issued for stocks, but the stock price is still rising, the village chief will be scolded and accused of delaying making money.
In fact, those people are leeks wherever they are, but cursing them can give themselves an excuse.
"Well, let's raise money for Li Yuan first, and then let him have a good rest for a while. I'm really not afraid of losing money, but I'm afraid it will hit his confidence. After all, he has never lost money since he entered the industry, let alone losing so much all at once. In the financial market, the most feared thing is self-doubt. Once such doubt arises, he will be timid in subsequent operations and it will be difficult for him to shine again."
"Well, let's prepare 10 billion US dollars first. The blame this time will be on us. Let's save Li Yuan first."
It’s not that they are so good to Li Yuan, but they can’t pass on the blame even if they want to.
Who else can bear the loss of at least tens of billions of dollars except them?
Throw it to Li Yuan?
Wouldn't that just break the lame man's good leg?
Do you want to cooperate again in the future?
"Then I'll go mobilize the funds."
"I'll go too. I don't want to stay here anymore."
“Together, together…”
Finally, there was only one person left sitting in the room.
He had a wry smile on his face.
Faced with the impending liquidation, he didn't want to watch it, but unfortunately he was too slow to speak.
We can't all leave, right? That would be ridiculous.
…
Morgan, on his part, is actively contacting his partners.
At the same time, funds are being mobilized on a large scale.
As their funds gradually came in, the price of Bitcoin also slowly rose.
It soon broke through 51,000 US dollars.
At this location, they encountered considerable resistance. It took an hour and cost more than 10 billion US dollars to get through.
This is beyond their budget.
At first they thought that $20 billion would be enough to raise the price from $50,000 to $60,000, but now they haven't even taken the first step and have already consumed more than half of the funds.
Then it broke through to 52,000 US dollars with almost no resistance.
This made them feel a lot more at ease. Perhaps most of the chips were concentrated in this area, and things would go much more smoothly in the future.
Unfortunately, this thought did not last long, as they soon encountered resistance again.
For a full two hours, nearly 30 billion US dollars were traded, but the price failed to break through 52,000 US dollars.
Short positions can no longer be opened, and the chips now are basically the long positions held previously.
How could there be so many chips!
Are the chips they control fake?
More than 50 billion US dollars, converted according to the current price ratio, that’s 7%!
In the entire market, where can we find another 7% of all Bitcoins?
That’s a full million Bitcoins.
How could they, with so many data analysts, come up with such a big deviation?
They had doubts along the way, but they were just a little bit away from success.
They are confident that they can definitely make those short positions explode.
They believe in data, because in this world, data will not lie!
As more and more of their funds were consumed, the frequency of transactions on the entire market decreased visibly.
Today's trading volume has exceeded 100 billion...
This is because the 32 billion from Morgan and Sky Capital is not taken into account.
From this, we can see how many chips the dealer behind Bitcoin holds.
The money I spent today is more than all the time combined.
Although most of it is loaned out, how much can be returned?
If the price cannot be pulled up, the funds returned will be much less than the funds lent out.
They know that the price of Bitcoin must not fall!
Keep getting the money!
They can still come up with money, even if they have to borrow some other funds, they can still come up with another 40 to 50 billion US dollars.
And just as this decision was being conveyed, a piece of data appeared in front of them.
They currently hold 120% of all Bitcoin.
Excluding the 50% loaned out, the chips held actually account for 70% of the current number of Bitcoins
This data is damn!
There was a roar from inside the office.
There are obviously 38% broken links!
This data cannot be falsified!
They went through countless confirmations and spent a lot of time collecting information before they dared to release this data.
In other words, they only hold 62% of the chips at most. Even if they eat up all the floating chips on the market, it is impossible for them to hold more than 70%.
Which link went wrong?
Not only Morgan, but the whole group of people were confused.
After seeing this data, they temporarily stopped the idea of mobilizing funds. There would be no point in continuing to invest money without checking it out clearly.
Because it will soon become a game just for them, so who will they make the money from?
Another two or three hours passed, and data began to appear...
After seeing the data, everyone's face turned red.
They forget that more than 40,000 bitcoins are mined every day...
It’s not that they forgot, but compared with the overall volume, they included this data in the normal data growth from the beginning.
Because the daily increase is only 0.3%, compared with the volatility of Bitcoin, it is nothing.
Even if it enters the market, it will not have any impact on market control.
After three or four months of operation, they have further confirmed this point. The daily output of Bitcoin has become a catalyst, preventing the entire market from losing its vitality due to market control.
Who knew that after a few months, the data would deviate so much?
Originally, they could accept a deviation of seven points because it did not affect their control.
But as they had more and more chips in their hands and urgently needed to cash out, those seven points of chips became their death warrant.
"We should have eaten up all the chips on the market now, right?"
They are thinking in their hearts.
Reality has begun to tell them the answer.
The price of Bitcoin was smashed.
Their follow-up funds did not keep up, and hundreds of millions of dollars in chips were thrown out, which quickly broke the $52,000 level and quickly dropped to $51,000, $50,000.
It is as difficult as climbing to the sky when pulling.
When I smashed it, it was so damn easy...
Reality tells them that not only...
No one knows how many chips are left unless they are ruthless and put in all the dead link data, and then plan funds based on this data.
But in that case... Morgan couldn't come up with that much money. Even if all their partners were added together, they couldn't come up with that much money.
There are only five or six days left until New Year's Day, and they need to make a lot of settlements, so it is impossible for them to come up with another 100 billion or 200 billion.
Including the nearly 200 billion yuan invested so far, more than 150 billion yuan needs to be paid out in the next few days.
They have planned it very well. After the short positions are breached, everything will come back to normal.
Based on 50% short orders, as long as the price of Bitcoin is raised to more than 60,000, they can recover US$200 billion in funds.
After deducting the 100 billion that was lent out, the other 100 billion can be used as the cost of their holdings. By then, they will still have so many chips in their hands, and they can make as much money as they sell.
As New Year’s Day approaches, the global funds settlement system is very busy.
Morgan is just thinking about making a big profit in the last few days of the year, earning tens of billions of dollars, and whitewashing this year's poor financial report, so as to attract more funds next year.
Now I am trapped...
The price of Bitcoin is still falling.
The chips started to be thrown out as if they were endless.
It has already exceeded 7% and is even approaching 10%.
The more this happened, the less confident Morgan and the others felt.
How many chips are left to come out?
Could it be that all those dead links have been cracked?
They had clearly arranged for people to do the test a long time ago, and the dead link could not be cracked at all.
Could it be that someone has found a USB flash drive from a few years ago and found hundreds of thousands of bitcoins in it?
Is this fucking possible?
The price of Bitcoin has fallen below $49,000...
Everyone is anxious...
These partners are all reliable people and will not betray them at this time.
But this matter was led by , and they need to give an explanation.
To advance or retreat...
"Boss, we can't track the $40 billion short position and can't impose any restrictions."
This is what gives Morgan the most headache.
They can only restrict accounts, but cannot restrict their own systems.
Once the system is restricted, even our own people will not be able to trade.
And restricting the entire system is purely a waste of time and effort .
The Morgan brand alone is worth $500 billion.
The previous restrictions on opening short orders were to limit part of the system functions, and excuses could be made to evade them.
For example, there are not enough chips...
Failure to open a short order will only result in being scolded, which is not considered particularly shameful in the whole world.
The other party's short position has already been established and may be converted into a long position at any time.
If you can’t open a long position, you will be embarrassed.
They had never expected the situation to turn out like this.
"Can't get in touch?"
“You can contact me, but the other party can’t get through.”
Well, after all, Chen Jie is still in the detention center.
"Then contact Sky Capital. We want the funds in Sky Capital's hands."
Prices are falling, and funds are more important than chips.
Kingkong Capital still has 32 billion US dollars in its hands. As long as they can get some of it back, there is still room for resolution.
At worst, they can use the money they collect to continue to push up the price...
"Boss, what price should we negotiate with the other party?"
"10%, a position of $31,500 gives them profit, and overall they make $3.2 billion."
"Okay, boss..."
Five minutes later, the employee in charge of communications came back.
"Boss, the operator at Sky Capital doesn't understand English..."
