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Author Topic: THE PRICE OF BITCOINS IS CRASHING SELL SELL SELL  (Read 22526 times)
sam
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June 10, 2011, 02:38:06 PM
 #1

http://i.imgur.com/hpFZq.png
http://i.imgur.com/uVrXG.png

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padrino
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June 10, 2011, 02:43:18 PM
 #2

Nothing like tabloid worthy headlines Smiley

Definitely undergoing a price adjustment, I expect in part because the media drove a number of people to "check it out" however the uses for it are limited right now and as people settle in reality hits a little more.

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hugolp
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June 10, 2011, 02:46:04 PM
 #3

I hope it goes down more.
Bit_Happy
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June 10, 2011, 02:46:50 PM
 #4

Don't be trampled by the herd, this is the time to buy!

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bitoption
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June 10, 2011, 03:03:15 PM
 #5

YOu can always buy options to hedge out your risk. We just launched trading at bitoption.org for btc options..

----** In Beta: The First Bitcoin Options Market ----**

Explanation and discussion: http://forum.bitcoin.org/index.php?topic=9611.0

API Developer Thread:
http://forum.bitcoin.org/index.php?topic=14194.0

-----------------------------------------------------------
billyjoeallen
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June 10, 2011, 03:24:38 PM
 #6

I wish there was an enforceable way to rent out my bitcoins to short-sellers.  it would be nice to get the short term cash flow in addition to the long term appreciation.

insert coin here:
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Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
kiwiasian
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June 10, 2011, 03:42:29 PM
 #7

I hope it goes down more.

Lol?

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CNMOH
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June 10, 2011, 03:56:26 PM
 #8

It'll go up again.

lemonginger
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June 10, 2011, 03:59:39 PM
 #9

I don't particularly care whether it goes up or down, I just hope it gets less volatile. Expect that will still take a long while though.

Volatility makes it really difficult to transition from speculation based economy to exchange based economy
gigitrix
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June 10, 2011, 04:04:40 PM
 #10

All caps much? It's called a correction: if you ever look at the market history it always shoots up, corrects slightly and then continues with organic growth. Nothing alarming in the slightest, just a product of a comparitively small market.

Keeps things exciting, eh?
bitoption
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June 10, 2011, 04:15:33 PM
 #11

Billyjoeallen you can do this with options, easily.

What scenarios are wanting to make cash on?

----** In Beta: The First Bitcoin Options Market ----**

Explanation and discussion: http://forum.bitcoin.org/index.php?topic=9611.0

API Developer Thread:
http://forum.bitcoin.org/index.php?topic=14194.0

-----------------------------------------------------------
billyjoeallen
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June 10, 2011, 04:20:36 PM
 #12

Billyjoeallen you can do this with options, easily.

What scenarios are wanting to make cash on?

The scenario is simple: I want to lend out my BTC with interest for whatever reason just as long as I get repaid.
MTGOX doesn't have options capability yet. No other exchange has enough volume.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
bitoption
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June 10, 2011, 04:41:51 PM
 #13

We'll have good volume on bitoptions in the next week or two; why not throw out some high bids?

I just 'lent' BTC out at a rate of 72% annually if prices stay below $45 for the next 45 days. If they don't, I'll get $45 per BTC.

I did have to wait 24 hours, but I bet the buyer would have bought more, as they bought all five from me.


To do this trade, just bid on calls at a comfortable strike price, and a dollar price that gets you what you want to see. Not hard.

----** In Beta: The First Bitcoin Options Market ----**

Explanation and discussion: http://forum.bitcoin.org/index.php?topic=9611.0

API Developer Thread:
http://forum.bitcoin.org/index.php?topic=14194.0

-----------------------------------------------------------
AntiVigilante
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June 10, 2011, 05:06:55 PM
 #14

I wish there was an enforceable way to rent out my bitcoins to short-sellers.  it would be nice to get the short term cash flow in addition to the long term appreciation.

I offer loans. I am adding a trust metric soon. For small amounts, I'm ready to play.

I can show you how.

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
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kiba
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June 10, 2011, 05:13:11 PM
 #15

http://bitcoinweekly.com/articles/comic-reaction-after-dramatic-rise-of-bitcoin-s-value

I heard somebody screams, BITCOIN BUBBLE!

billyjoeallen
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June 10, 2011, 05:23:36 PM
 #16

We'll have good volume on bitoptions in the next week or two; why not throw out some high bids?

I just 'lent' BTC out at a rate of 72% annually if prices stay below $45 for the next 45 days. If they don't, I'll get $45 per BTC.

I did have to wait 24 hours, but I bet the buyer would have bought more, as they bought all five from me.


To do this trade, just bid on calls at a comfortable strike price, and a dollar price that gets you what you want to see. Not hard.

I don't quite understand. It sounds like you are either guaranteed to make 72% profit OR the difference between $45 and whatever your purchase price was.  If that's true, then the only risks are your exchange folding up and taking my BTC with it, OR the potential lost opportunity to profit of even more if the price goes up to >$45.  is this right?

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
bitoption
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June 10, 2011, 05:24:54 PM
 #17

You're correct in the case of selling a covered call, which is what I did.

----** In Beta: The First Bitcoin Options Market ----**

Explanation and discussion: http://forum.bitcoin.org/index.php?topic=9611.0

API Developer Thread:
http://forum.bitcoin.org/index.php?topic=14194.0

-----------------------------------------------------------
billyjoeallen
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June 10, 2011, 05:47:11 PM
 #18

You're correct in the case of selling a covered call, which is what I did.

This seems too good to be true. Why don't you just borrow money on your credit cards at 21%, buy bitcoins, lend them out and get a guaranteed 72%? 

Why didn't you have more than 5 BTC to lend?

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
clickbangdone
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June 10, 2011, 06:02:51 PM
 #19

You're correct in the case of selling a covered call, which is what I did.

This seems too good to be true. Why don't you just borrow money on your credit cards at 21%, buy bitcoins, lend them out and get a guaranteed 72%? 
It's not a guaranteed 72% unless bitcoins are worth what you paid for them before the option expires.

I wish someone would starting writing puts come on pumpers put your money where your mouth is

d.james
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June 10, 2011, 06:13:06 PM
 #20

woooot i can afford to get some coins now, time to buy Smiley

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