I'm officially being screwed over right now. The goddamn interest rates on Bitfinex for borrowing BTC are practically 0 while you have to pay some monstrous rate to borrow USD, the price is going up, and I cant do shit. WTF do I do now. I have already lost like 2 BTC if I buy right now.
I'm good at advertising! Am I not?
The issue is not with this strategy, but with me selling on gox too soon. I either should have sold on another exchange, or not sold at all (the latter is obviously better). If I buy BTC now at gox and attempt to begin this strategy, I'll be 2 BTC in the hole from where I did sell, and if I dont, then I have USD sitting on Gox and doing nothing.
Assuming I followed this strategy, even if I took a lower-swing version, I'd need it to move like 15% or more in one direction or the other before even being able to break even with the loss I took, not counting fees. And assuming I waited, my USD is dead in the water in GOX, I can't even lend it out. Ironically, Bitfinex has higher USD loan rates, and I have USD, but I can't even do anything with it.
