SHOTRING BITCOIN: This is a good idea right now

[MatTheCat]

Yeah Mat, you are like a builder who, instead of building a house, hits himself on the head with the hammer repeatedly. Good thing the hammer is tiny, still, a wrong way. If you can't figure out the tool, don't use it.

Have you ever traded on Bitfinex?

Open yourself up an account, go and see for yourself what a cluster fuck the whole place is.

If I had done, what I set out to do, I would be $200 up by now, not $200 down.

The way the trading web page is set up is a bit like one of those advertisements that intentionally makes ambiguous statements and claims about a product or service designed to mislead the consumer, but allows the company a plausible get out clause should any litigation ensue.

So so so fkn easy to hit the wrong button on Bitfinex, thinking you are executing one action only for something completely different to be carried out in your name and with your money.

Just think how many times you have went to download a freeware program, only to be hit by a lot of bloatware 'DOWNLOAD HERE' banners, only for the genuine download link to be obscurely tucked away in the bottom corner of the page in size 10 font, that is how Bitfinex is.

[skivrmt]

Yeah Mat, you are like a builder who, instead of building a house, hits himself on the head with the hammer repeatedly. Good thing the hammer is tiny, still, a wrong way. If you can't figure out the tool, don't use it.

Have you ever traded on Bitfinex?

Open yourself up an account, go and see for yourself what a cluster fuck the whole place is.

If I had done, what I set out to do, I would be $200 up by now, not $200 down.

The way the trading web page is set up is a bit like one of those advertisements that intentionally makes ambiguous statements and claims about a product or service designed to mislead the consumer, but allows the company a plausible get out clause should any litigation ensue.

So so so fkn easy to hit the wrong button on Bitfinex, thinking you are executing one action only for something completely different to be carried out in your name and with your money.

Just think how many times you have went to download a freeware program, only to be hit by a lot of bloatware 'DOWNLOAD HERE' banners, only for the genuine download link to be obscurely tucked away in the bottom corner of the page in size 10 font, that is how Bitfinex is.

The problem is I don't think there are any, or if any now, Bitcoins available to short on Bitfinex.  And even if there are, the loan fees and fees for tradings would eat into any profit you would make from shorting unless it's a large amount of Bitcoins.  Then we go back to the problem there aren't enough coins available.

[piramida]

Have you ever traded on Bitfinex?

Open yourself up an account, go and see for yourself what a cluster fuck the whole place is.

yes I did, it's really not that complicated. however after careful research into it's operation I took everything out as I suspect it will eventually blow up.

if you want some real futures trading try icbit.se, but this one *is* complicated, i.e. you have to know what you are doing first.

[MatTheCat]

yes I did, it's really not that complicated. however after careful research into it's operation I took everything out as I suspect it will eventually blow up.

if you want some real futures trading try icbit.se, but this one *is* complicated, i.e. you have to know what you are doing first.

It is not a question of it being 'too complicated' (so only really clever people can understand it), it is that the interface is laid out in a very ambiguous.

[proudhon]

Have you ever traded on Bitfinex?

Open yourself up an account, go and see for yourself what a cluster fuck the whole place is.

yes I did, it's really not that complicated. however after careful research into it's operation I took everything out as I suspect it will eventually blow up.

if you want some real futures trading try icbit.se, but this one *is* complicated, i.e. you have to know what you are doing first.

SHOTRING bitcoin is such a sure bet that I don't think you really need to know what you're doing.  Just send your bitcoin or USD somewhere that mentions SHOTRING (may be spelled slightly different) and click a few buttons, and in a few weeks you'll probably be rich.

[Erdogan]

I agree with proudhon. Bitcoin is in an epic bubble. When it finally pops, a lot of people are going to lose a lot of money

I agree it's in a bubble, but this bubble might well easily extend into the 100 billion (market cap) realm before the sentiment reverses … Just something to keep in mind.

Also, in case you hadn't noticed, proudhon is being sarcastic.

edit: Sorry for spoiling it.

This is the longest sarcasm mode I've ever witnessed, its been more than a week since proudhorn switched sarcasm mode on. No signs of it going anytime soon either. Might be the most epic sarcasm mode ever initiated in history.

he's actually not being sarcastic

confirmed sources here http://anarchism.pageabode.com/anarcho/taking-proudhon-seriously

[sarcasm]
He is always sarcastic, but somehow he always forgets to apply the sarcasm tag.
[/sarcasm]

[UnDerDoG81]

OP, so you shortened? We going back to $1000 

[MatTheCat]

OP, so you shortened? We going back to $1000  

All the most vocal shorters seem to have taken profits on the plunge to $765. Only the idiots like me decided that would be a good time to short, although I probably only done it cos I have been wanting to short Bitcoin all the way down and have a pent up frustration that needed released.

[fr33d0miz3r]

Ok, I have closed my short with 1.5% loss. It will be recovered by possible 30% profit at the upcoming rally.
We should go up until the end of January, and then major trend reversal.

To those who prayed for me:  no need for that.

Cheers.

[MatTheCat]

Ok, I have closed my short with 1.5% loss. It will be recovered by possible 30% profit at the upcoming rally.
We should go up until the end of January, and then major trend reversal.

To those who prayed for me:  no need for that.

Cheers.

What, you mean this upcoming rally that keeps stopping 1 cent short of every short-sell I try to make?

Fkn viper's with their fkn bots.....no space for genuine punters trying to capitalise on these manufactured 'bounces'. They want to take cash out our pockets, not stuff their cash in our pockets.

Seen enough of trying to buy and then actually sell on short term fluctuations to know that this market is controlled by bots passing Bitcoins between accounts in the attempt to suck in dumb money into the market. So many times have I timed $30 upswings perfectly only to be forced to sell well below ask price in order to guarantee market exit due to not being able to compete with the bots that are setting the phoney market in the first place.

[hdbuck]

SHHHOOTTRRRRR

[proudhon]

I just realized that I've been neglecting an important aspect of making money off of bitcoin, besides SHOTRING:  DAY TARDING!  DAY TARDING is perhaps the easiest way to earn money in the short term, and with bitcoin it's so easy for anyone to be a successfull day tarder.  So, even if you're already in a SHOTR position, you should DAY TARD a little bit just to make some extra cash. 

If you're in the US, DAY TARDING might mean you're obligated to pay short term capital gains tax, but it's only, what, like 35%+-+, and with DAY TARDING in bitcoin you're pretty much guaranteed to make twice that by the hour, it's so easy.  In all seriousness, everyone should be doing it.  Just read the spec forum to know exactly when to buy and sell and buy and sell and so on.

[fr33d0miz3r]

I just realized that I've been neglecting an important aspect of making money off of bitcoin, besides SHOTRING:  DAY TARDING!  DAY TARDING is perhaps the easiest way to earn money in the short term, and with bitcoin it's so easy for anyone to be a successfull day tarder.  So, even if you're already in a SHOTR position, you should DAY TARD a little bit just to make some extra cash. 

If you're in the US, DAY TARDING might mean you're obligated to pay short term capital gains tax, but it's only, what, like 35%+-+, and with DAY TARDING in bitcoin you're pretty much guaranteed to make twice that by the hour, it's so easy.  In all seriousness, everyone should be doing it.  Just read the spec forum to know exactly when to buy and sell and buy and sell and so on.

What do you smoke?

[fr33d0miz3r]

Shotring now could probably solve that kind of problem ...

No profits, no taxes 

[DieJohnny]

If we engage in a contract that you will buy 100 BTC from me at $600/btc in six months, is that a short sale?

I wonder if I would get any takers?

[BitcoinLeader]

Shorting bitcoins used to be very profitable on Plus500 because your positions expired monthly instead of daily now since the China explosion.
They also removed the leverage 1;10 so these two things makes it less interesting to short bitocins at Plus500.
The best and only alternative at the moment is to trade Bitcoin with leverage at AvaTrade. Your positions with AvaTrade do not expiry daily so that will give you a better opportunity to profit from short and long positions.

This topic attracted me because I actually own a website revolving around Shorting Bitcoins. You find it in my signature

Good luck.

[yogi]

If we engage in a contract that you will buy 100 BTC from me at $600/btc in six months, is that a short sale?

This is called 'Futures'.

I wonder if I would get any takers?

ICBIT has a futures market.

[fr33d0miz3r]

OMG, I made new calculations. We can see $3-6 in the next 2 months. Everyone short now!

[disclaimer201]

OP is still waiting for single digits since he shorted Bitcoin the last time. Waiting, waiting... It would not surprise me if it can historically be proven that you earn money by doing the exact opposite of what proudhon says. There might even be a thread about this, search for it. Somehow he reminds me of this guy fontas looking for suckers. So, if you are new to bitcoin this is my one and only warning. Buy if you can, or hold. Period.

[loopgate88]

It will level out at $200. You will be able to buy lower than that. Just hold your fiat/buy NXT/spend it. Buying BTC now = investing in regret.