Bitcoin Forum

Yesterday was a huge day for traders, with many making a lot of money by going short on the bitcoin price and the leveraging to maximise their profits.

We saw a spike in trade volume on the Coinarch website.

Can someone please explain to me how this works? I want to know.

What exchanges allow shorting?

hey, but is it not the bitcoiners philosophy to use Bitcoin as currency only without any speculation? LOL

it's so funny when I see so much hypocrisy.  :D

I did.  I don't leverage though.  Only 'bet' as much as I care to lose  ;D

No, I prefer to make much more when the Bitcoin price goes up.  :)

still HOLD when i bought at $198

waiting a good price to sell it

Happy to report YES. I bought more at $189.

i bought about 20btc , first time ever buying on the low, unless it drops again... ;D

still holding fiat from btc sales  at +300.  also holding nubits.

Many may have made money shorting Bitcoin, but many made money (myself included) buying at the low prices and banking on a rise.

It's my philosophy at least. I didn't “win” money. All bitcoins I've bought are either in my wallet, or I already spent them on stuff online. I never change them back to fiat.

could be a dead cat bounce tho.  be careful btc hasn't stopped going down since the 1st quarter of 2014.  there were blips and signs of reversals, but still continued going down after.  

http://bitcoincharts.com/charts/chart.png?width=940&m=bitfinexUSD&SubmitButton=Draw&r=360&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

I sure did. That was exciting. ;D

??? No, it is not. That sounds like a rather poorly conceived philosophy in any case, as a currency needs speculators to provide liquidity.

tell that to the hordes who sustain something else :)
you can find tons of post with "Bitcoin is not for speculation"

Nope was playing the simulation but entered a bit too high
Now just waiting for 8 hours to clear and rebalance it again if the price doesn't go up too much from here.

Anyone is free to do with Bitcoin what one pleases. Some try to use it as a currency, some hold it as an investment. I don't agree with the latter, but there's nothing I can do about it.

Haven't seen that kind of drop in awhile but was able to nab a few coins when the bottom fell out to $160

It's been rough just to stay afloat with the drop in price! Does anyone feel or have knowledge of it going back up at all? It dose seem that the prices go up during the spring and summer.

I didn‘t do anything, but I'm a bit more BTC  ::)

btc-e has MetaTrader allowing 3x leverage + shorting. Heck you can even run bots on it.

bitfinex also supposedly allows leveraging up to 10x.

3.3:1 on BFX. Shorting makes money fast, but it can also backfire. I advise anyone in this thread asking "How does that work?" to do some research before playing around with leveraged margin trading. You can make profits 3x as fast but you can also lose 3x as fast. Learn it before you try.

this is a really important one if you wanna trade with leverage :)
you should always have a price point for a stop loss.

No, I wait Bitcoin price goes up..........

I tried telling them that, but they wouldn't listen. No matter. I don't mind getting rich at their expense.

I tried to make money from the falling bitcoin price but ended out quits. The poll should have an option for that.

Bitcoin is also money, when price dropped you make more bitcoin, when its up you make more dollar

No, i make more BTC yesterday

my strategy : sell at $220 & buy at $190 :)

Considering that I bought btc when it was 280 and bought again at 200, the same amount, I would need the price to go up to 240 to make even. Hope it won't be a long wait.  :-\

everyone jump the ship!

bitfinex only allows leverage up to 3.3x, at least this is the case for USD/BTC. (I would think they would allow less leverage for other trading pairs).

The use of leverage can be very profitable if you are correct about the direction the price is going however you are at risk because the price could temporarily move against you which would cause you to get a margin call

Only if you trade, otherwise you have the same amount of BTC worth more or less in FIAT.

good strategy. I have tried to do the same.

This one claims to offer 10x leverage on bitcoin, but I can't vouch for it and someone here described 10x leverage as financial suicide.

https://btc.sx/

Hi, you can make money when the bitcoin price rises or falls using leverage products.

If you think the bitcoin price is going to fall, you would go short with leverage. Here is an example https://www.coinarch.com/en/Info/BoosterShortPosition.

However, if the bitcoin price rises and rises past the strike you will lose your original investment. The same works for if you think the bitcoin price will rise, you would go long, see example here https://www.coinarch.com/en/Info/BoosterLongPosition

If you are keen on trading - register on Coinarch using Kimba as the invite code and I will give you free brokerage for 7 days.

Let me know if you need any support.

Coinarch offer up to 8x leverage on short and long positions. The difference with our platform is you will only lose as much as you invest. For new traders, if you think the bitcoin price will go increase and you invest US$10 in a long booster with 8x leverage, you are ultimately investing $80. If the bitcoin price was to increase by 50% you would make $40. However if the bitcoin price falls below the strike you would only lose US$10, not US$80. Hopefully this makes sense.




Therefore you wont lose 8x leverage

See long example here https://www.coinarch.com/en/Info/BoosterLongPosition

Well for the people who remember Fxopen the metatrader does currency pairs so you can easily short
Can also try Bit-x

Who covers the other $70? What is the "strike price"  to only lose $10 and coinarch not taking unnecessary risk of losses? Your link doesn't tell what margin requirements are and how you calculate liquidations. It only shows the ideal example to show how "easy" it is. Show me the same type of example where the market moves against your 8x position.

Based on what he described about his exchange, I believe it is the lenders who take it in the shorts.  No pun intended  ;)