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Author Topic: Anybody net short bitcoin?  (Read 1767 times)
mkc
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July 26, 2014, 03:57:13 AM
 #1

I think bitcoin will go to below $200. I am thinking about shorting (borrow bitcoin and sell them). I know Bitfinex can do this? anybody out there is shorting bitcoin right now?
What is your experience shorting bitcoin?
Thanks, a lot of people may hate me since you are dead bull.
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July 26, 2014, 04:29:32 AM
 #2

Shorting the Dec future at the moment. Should the spread go up, I will short more.
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July 26, 2014, 04:37:20 AM
 #3

Bad move

CRS the THINK TANK of Congress said this the other day about bitcoin

Bitcoin is similar to a currency based on a GOLD STANDARD

I hear that news is huge tomorrow

BTC jumps past 6K bubble right to 60K bubble

smoothie
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July 26, 2014, 04:43:03 AM
 #4

lol I am short Bitcoin as I do not have "enough". Feel free to send some my way. lol

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July 26, 2014, 05:32:03 AM
 #5

I am way short on bitcoin. Need many more to be net long.
zeetubes
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July 26, 2014, 05:39:30 AM
 #6

I think bitcoin will go to below $200. I am thinking about shorting (borrow bitcoin and sell them). I know Bitfinex can do this? anybody out there is shorting bitcoin right now?
What is your experience shorting bitcoin?
Thanks, a lot of people may hate me since you are dead bull.

Shorting anything: stocks, commodities, whatever, is a bitch on your stress levels. With btc that stress is multiplied because there's not much history to make judgment calls. A lot of very experienced vulture capitalists are putting big amounts of cash into bitcoin related businesses right now so unless you have some inside knowledge about some black swan (gox II) about to hit, you would be better off heading to las vegas. At least there you can stare at pretty chicks while you lose your money. I can think of more reasons as to why btc will go up rather than down but frankly nobody knows what will happen. Good luck whichever way you decide.
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July 26, 2014, 05:41:53 AM
 #7

I don't know if it is a good idea to borrow BTC .... how will you pay your debt if the price goes up?

Space for rent if its still trending
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July 26, 2014, 06:00:44 AM
 #8

I don't know if it is a good idea to borrow BTC .... how will you pay your debt if the price goes up?

As long as it doesn't go too fast, then it's just standard losses much like going long when the price goes down. However, in the event that it moves too fast, it means forced liquidation and possible total loss with a slight possibility of owing some amount back to BFX (how they collect on such a thing is beyond me)

Edit: I was short until this last spike down. I covered at $590 and plan to short again after a small retrace. This assuming everything remains on schedule Wink

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July 26, 2014, 06:02:36 AM
 #9

My experience with shorting Bitcoin is to profit handsomely, at the expense of the shorts from their failed bear raids on Bitcoin. I am talking of course about pirateat40 who in late 2011 and 2012 built a massive BTC short position that had the effect of depressing prices, keeping prices in the 2 USD per BTC to 10 USD per BTC. Those of us who bought at those prices and took delivery of our BTC are now sitting on very substantial profits. When pirateat40's massive short pyramid collapsed the BTC / USD rate rose sharply in 2013 taking out a few other shorts in the process including I suspect MTGox. Taking delivery is by the way the most effective way to squeeze the shorts to the wall and increase the profitability of the longs.  

So I say go ahead and short, there are those of us ready to profit from taking the long position even if the shorts manage to temporarily drop the price to 200 USD.  Wink  If you do go ahead and short BTC there is a good chance you may need the services of a bankruptcy trustee.

This should not be considered financial advice.  

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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July 26, 2014, 06:08:10 AM
 #10

No.
tinof
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July 26, 2014, 06:11:37 AM
 #11

A good time to short bitcoin when everyone is focusing their attention on Ethereum.

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July 26, 2014, 06:13:38 AM
 #12

Bitfinex allows short positions in bitcoin but I don't think many people have short positions. Q

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July 26, 2014, 06:16:24 AM
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via Imgflip Meme Maker
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July 26, 2014, 06:19:05 AM
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July 26, 2014, 06:35:25 AM
 #15

I think bitcoin will go to below $200.

I don't think so. Maybe 200-250 USD, and it will be the new 2 USD.
mkc
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July 26, 2014, 06:36:01 AM
 #16

The more people believes in bitcoin, the more I want to short.
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July 26, 2014, 07:17:36 AM
 #17

I don't know if it is a good idea to borrow BTC .... how will you pay your debt if the price goes up?

As long as it doesn't go too fast, then it's just standard losses much like going long when the price goes down. However, in the event that it moves too fast, it means forced liquidation and possible total loss with a slight possibility of owing some amount back to BFX (how they collect on such a thing is beyond me)

Edit: I was short until this last spike down. I covered at $590 and plan to short again after a small retrace. This assuming everything remains on schedule Wink
I'd like to close my short and wait for a retrace but... that flash crash could happen at any moment, so I'm not taking my chances.
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July 26, 2014, 07:19:46 AM
 #18

The more people believes in bitcoin, the more I want to short.

Ah, now I understand. Even though I personally loathe the word 'troll' it does sum up faggot bitches like you.
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July 26, 2014, 07:23:37 AM
 #19

The more people believes in bitcoin, the more I want to short.

The more people believed in Apple, the more you did want to short?
Good luck.
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July 26, 2014, 09:12:33 AM
 #20

The more people accept USD, the more zimbabwean dollars I will buy! Because I am contrarian! Smiley

but no, really, good luck shorting bitcoin. you may even profit if you reverse to long in a timely manner. unfortunately, I don't think it will happen and you will lose all, but you will get a lesson out of it! (NEVER SHORT BITCOIN <- that one).

i am satoshi
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