“Are you asking me to sell cryptocurrency short?”
Soros loosens his chin and raises his head.
His eyes were sharper than before, making him feel more like a bird of prey than a human.
“To be precise, I request short selling of the virtual currency called K-Star Coin.”
“hmm… … .”
“It is a virtual currency that has just been listed, but it has already exceeded $3 billion in market capitalization. It is well worth eating.”
He licked his lips several times before opening his mouth.
“If it’s short selling, isn’t it something WHTS Company can do without asking me?”
“It could be, but wouldn’t it be better to leave it to the experts in this field?”
If possible, I would like to tackle this matter myself.
However, rumors spread that WHTS Company had blown away competitors by short selling, and nothing good came of it, so I came to ask a famous person named Soros for a proxy war.
“If rumors spread that cryptocurrencies went down due to short selling, the entire virtual currency board would be staggered. If that happens, WHTS Company won’t be good either, right?”
“I know.”
“Why are you attacking K-Star Coin even at such a huge loss? I can’t understand this old man.”
In order to explain this situation, we first had to go over the structure of K-Star Coin.
“K-Star Coin is a virtual currency that has grown in a short period of time with huge rewards. Their method may be advantageous for growth, but it is significantly less stable.”
“What reward did you promise?”
“They said that if you invest in K-Star Coin, you will receive a 23.9% annual reward.”
From noble mtl dot com
A voice filled with astonishment pours out of Soros’ mouth.
“what? 23.9%? Didn’t I hear something wrong?”
“You heard me correctly.”
“There is no other financial product in the world that can afford that interest rate. It’s like a scam!”
“There are already similar precedents.”
“There is no precedent for something like this… … uh?”
A precedent similar to K Star Coin.
It was Acorn Coin, the number one cryptocurrency market capitalization.
“The reason Acorn Coin was able to pay high interest was because of the success of businesses such as SNS, games, and electric vehicles. However, K Star Coin is full of unrealistic plans, and there is no actual profit.”
“If the inflow of investment is cut off, the structure will collapse in an instant.”
“You saw it right. In effect, it is safe to say that it is a digital version of a Ponzi scheme.”
Soros looks at me in surprise. It seems that he did not know that the word Ponzi scheme would come out of the mouth of a representative of a virtual currency developer.
“As you know, Ponzi schemes have a characteristic in that the number of victims increases like a snowball as the period of time increases.”
“You’re saying you’re going to nip the buds ahead of time for that reason?”
“Minimizing Market Impact. That is my purpose.”
Soros scratched his chin for a while, wondering what he was thinking. Then, after about a minute or so, the mouth drops.
“Honestly, I don’t know how far to believe you.”
“What part was hard to believe?”
“From the fact that the purpose of this short sale is not to eliminate competitors, but for the virtual currency market… … Actually, how many people think like this?”
“Whatever my intentions mean, what does that mean to Mr. Soros? The only thing that matters is that K Star Coin, a very easy prey, is on the table.”
* * *
The cryptocurrency craze has pushed the Internet world into turmoil.
News, social media, community, wherever you go, the topic of virtual currency appeared without missing, and the extent was getting worse day by day.
-what? If you buy only coins, the money will be copied? But there are idiots who don’t know that and are still holding cash?
└ I’m already craving for a loan pool, so I don’t know how to use Dodge Coin.
└There is no credit limit because the 4 major insurance policies are not included. petulance. Even if it’s annoying, should I run a part-time job?
-This time, two new coins are listed. It’s unconditionally confirmed, so I’ll put it in quickly.
└ My friend put in a new coin and ate 900% in one day and beat the company. I envy you.
└You can do it too. go go
– I got a K-star without incident. For reference, I heard that 3 A-class girl groups will accompany you to this seminar in China.
└Is it a good thing?
└Fire or everything is a good thing.
└ After seeing this news, I went all the way through and bought it. K-Star Rice Cake Award Gazua!!!
└ Let’s go up to 40,000 this time~~~
Looking at the atmosphere of the Internet, virtual currency always seemed to rise and bring profits.
In fact, since the majority of virtual currencies were on the rise after the second coin craze hit, it was not a very wrong statement.
However, as always with investment products, it is not possible to rise every time.
-Why is K-star market price like this? I lost 15% two days in a row.
└ Oh, you should change. No wonder K-star librarians.
-Is there any bad news? Why don’t you go up alone?
└ Ugh, Corinne smells. So far, it has gone up so much that I have to adjust it. If you ride Johnber, you will go up, so impatient.
└ Rice cake table again after adjustment. So, unconditionally.
└ Jonber is the answer.
└I believe. johnber! johnber! johnber! johnber! johnber! johnber!
However, after three days and on the fourth day, the K Star Coin and KSC Coin prices continued to run in reverse alone.
36,000 won… … 30,600 won… … 26,400 won… … 22,400 won.
At this point, even among the investors who were shouting “John Ver.”, there was a feeling of anxiety that something had happened to K-Star Coin.
Then, late in the afternoon, the thing I was concerned about hit the news.
[The return of John Soros, who retired. The first thing his fund aimed at was virtual currency!]
[Soros Fund “K-Star Coin is not suitable as an investment product because it has structural defects. A related report will be made soon.”]
It was a declaration of war by none other than John Soros, the living legend of finance.
Since there were few investors who did not know about his splendid history, the market prices of K Star Coin and KSC Coin plunged immediately after the news broke.
* * *
After Soros’ declaration of war hit the news.
The price of K Star Coin, which should have been maintained at $1, showed an unstable appearance, going down to $0.8 at one time.
Surprised by this, investors began to sell not only K Star Coins, but also KSC Coins linked to K Star Coins.
As the volume of the two types of coins poured in at the same time, the price drop doubled.
KSC Coin, originally 37,000 won, became 14,400 won in five days. It was a drop of over 60%.
K Starcoin, who was worse off than this, started to reassure investors by turning on the broadcast directly by Taylor Kim, the representative.
– Investors. Recently, the market price of K-Star Coin is unstable due to the manipulation of certain forces. All of this is only a temporary phenomenon due to short selling, and K Star Coin is managed with a special algorithm, so it guarantees 100% safety.
He assured safety on the air, but no one believed his words straight away. The situation of K Star Coin was already like a flashlight.
“Mr. Taylor, how the hell did this happen? You boasted that you could keep a dollar!”
Inside the quiet conference room.
As the man with the ferocious look shouted, the other men sitting next to him raised their voices, not to be outdone.
“What now? What about the money we invested?”
“Is it true that an algorithm or something can rebound the market price? Surely we shouldn’t have to watch it collapse like this, right?”
“Say something, Mr. Taylor!”
The excited men are executives of securities companies that have invested in K Star Coin.
As Taylor continues to keep his mouth shut, an impatient executive jumps out of his seat.
“I can’t. Our Daehyun will shave his hands.”
“If Daehyun is missing, neither we nor SG Investment can help.”
Only then did Taylor dissuade them.
“Why are you in such a hurry? It’s not that it’s impossible to rush things. Let’s sit down and talk about it.”
As Taylor cringes, the brokerage executives sit down again as if they can’t win.
In fact, they also said they would be silent, but it was not easy to rob because the money invested was not one or two pennies.
“As you know, this situation is caused by the Soros Fund’s short selling attack. So, if you hold on until the 16th, the expiration date of short selling, it is a problem that can be solved neatly.”
Executives check dates on their phones almost simultaneously. Since today was the 5th, it meant that we had to endure for 11 days until the 16th.
“If there is no favorable news in the future, the market price will continue to fall. Can you hold out until the 16th?”
“It is not difficult to create good news. The key point here is that a meaningful rebound has to follow.”
“If there is a significant rebound… … ?”
Taylor sneakily curled her thumb and forefinger and showed them.
“You mean we should invest more? Nonsense!”
“Sleep, calm down. Please listen to me for a moment. very briefly You only need to listen for one minute. You can’t do that much, can you?”
Executives are forced to keep their mouths shut at the word 1 minute.
Taylor only starts rhyming after the hall is completely quiet.
“Before talking, you need to think again about what K Star Coin means to you. You didn’t come here simply to profit from the market.”
The reason large securities companies invested in new virtual currencies was to secure pre-issued coins.
It is difficult to even verify the existence of coins issued before listing.
If you sell such a ghost coin on an exchange, you will complete a perfect slush fund that leaves no traces in the world.
“If you help me just this once, I will hand out 10 million more of the KSC pre-issued coins I was holding.”
The executives gasped in amazement.
This is because 10 million KSC coins were worth 150 billion won even now, when the market price has plummeted.
“We only have to hold out for 16 days. On that day, when the short selling power is gone, our coin is a rice cake again. Of course, the pre-issued coins given to you will be worth many times as much.”
Taylor takes turns staring at the executives. Their eyes were already shaking.
He takes out a USB from his bosom without missing the time, and distributes three to each person.
“What is this?”
Taylor walks closer and whispers to the executive who received the USB with a bewildered expression.
“Each USB contains 50,000 KSC coins. Please consider it my sincerity.”
“Hut!”
“For reference, the coins in there are also pre-issued, so there is absolutely no way to track them. So, feel free to use it as a rice cake price.”
It was too much money to be the price of rice cakes. Even if they work all their lives, they won’t be able to collect more than the money in the USB.
The executives took the USB without hesitation, befitting shrewd brokers.
When Taylor sees their actions, he smirks and robs his bed.
“Well then, I have work, so I will wake up first. Please speak slowly.”
There was no reason to stay here any longer.
In the future, brokerage executives who received and ate the coin will struggle to save K Star Coin on their own.