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Title: Pirate's potentially legitimate operation: shorting Post by: BoardGameCoin on August 20, 2012, 03:55:38 AM Supposing that pirate was interested in cyclically shorting bitcoins in a day-trading sense, it could make sense for him to borrow significant amounts of coins. Additionally, if he can induce panic selling as he moves to cash, he can essentially profit off of the fear/greed cycle. If he is legitimate, then some percentage of his coins are almost definitely in USD on the exchanges right now, and must be bought back over the next week.
Thoughts? -bgc Title: Re: Pirate's potentially legitimate operation: shorting Post by: jimbobway on August 20, 2012, 04:13:11 AM This has been discussed before and many of us believe that is what pirate is doing. You can defeat pirate by not falling into his trap by panicking.
Title: Re: Pirate's potentially legitimate operation: shorting Post by: teflone on August 20, 2012, 04:18:59 AM Im also convinced of this..
Coupled with the buying of coin JUST to invest in him... ::) Title: Re: Pirate's potentially legitimate operation: shorting Post by: BitPay Business Solutions on August 20, 2012, 04:38:12 AM This has been discussed before and many of us believe that is what pirate is doing. You can defeat pirate by not falling into his trap by panicking. Since STOP orders are not offered on Gox, you physically have to hit the panic button to unload an underwater position. Since leverage is not offered on Gox, you are not pressured into hitting the panic button, nor are you forced liquidated. Buy low, Sell high. Title: Re: Pirate's potentially legitimate operation: shorting Post by: Littleshop on August 20, 2012, 04:49:00 AM This has been discussed before and many of us believe that is what pirate is doing. You can defeat pirate by not falling into his trap by panicking. Since STOP orders are not offered on Gox, you physically have to hit the panic button to unload an underwater position. Since leverage is not offered on Gox, you are not pressured into hitting the panic button, nor are you forced liquidated. Buy low, Sell high. Exactly. If you do want to 'daytrade'.... set a price that you think bitcoin is worth. Do not change it unless there is new data, not emotions from seeing the price go up and down. Then buy when the price is below that by lets say 1 dollar, and sell when it is 1 dollar above that. You will probably make money. Stay sane, do not panic and do not play with money you can not afford to lose. Title: Re: Pirate's potentially legitimate operation: shorting Post by: BoardGameCoin on August 20, 2012, 04:54:17 AM Well, I'm not selling any to pirate, though I do hope to buy a bit before he buys the price back up and then maybe some more once his lenders sell off some of their winnings. I'm curious whether there's any chance of him winding up in a short squeeze, but it looks like there's enough depth for him to be able to cover.
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