Argwai96
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Activity: 1036
Merit: 1000
Thug for life!
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November 02, 2014, 04:13:08 AM |
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I bought some LTC some time, end of December. The value doubled overnight. I sold them all. The value of LTC is now very low, and I don't think it's going back up to it's previous levels any time soon. That would be a long term investment which I'm not willing to take right now.
I would argue that it is a good long term bet to short most alt coins as they seem to tend to always eventually go down |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Q7
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November 02, 2014, 04:27:22 AM |
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Those are buying with margins in other words betting on the price movement with money you don't own with just a small sum as collateral. Same like forex which allows you to win a lot or either lose a lot. There are also quite a number of chinese exchangers allowing the same services on buying with margin
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btcrich
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November 02, 2014, 05:27:27 AM |
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I've shorted BTC in the past using BTc-e's metatrader platform.
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little tiger
Newbie
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Activity: 36
Merit: 0
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November 10, 2014, 06:41:13 AM |
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I don't like to short it, that makes me unsafe.
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fewcoins
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November 10, 2014, 01:35:56 PM |
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I have made a lot of money shorting bitcoin many times but have covered always around 300... There are too many companies and retail investors ready to buy many coins below 300 so dips below there will continue to get harder and harder. That's why this dip we only got to 315. I have stopped shorting this month for one simple reason....... EVERYONE IS TRYING TO SHORT WHICH WILL LEAD TO A HUGE BOUNCE WHEN EVERYONE TRIES TO COVER THEIR SHORT!Right now short interest is at 62% but the rate of it's rise is slowing down... Also a few weeks ago they literally ran out of bitcoin to lend out to shorters. Basically for people who don't get how this works, I will explain it is very simple. Someone lends bitcoin to me at a certain interest rate. I used that borrowed bitcoin with my collateral(more bitcoin) and instead of shorting a few coins I could now short approx 10. I then make a contract with the exchange to BUY BACK those ten bitcoin in the future(hopefully at a lower cost so I profit) This is where the magic happens... If the price doesn't go down but it goes up instead then I must buy back those ten bitcoin at a loss, at a higher price, and if I wait too long(maybe a $50-100 increase in btc price) they will literally take all your collateral and just place a buy order for the 10 bitcoin right there. This is what is happening everyday now. Literally every order(long or short) will eventually be a buy order for the market! This is how the stock market had many repeated bubbles like we will have here for bitcoin! More shorters will cover everyday and every rise more shorters will assume this is a ATH and short more but they will have to cover another day. More buyers entering the market while more miners hold for larger gains. Everyday there will be huge jumps up and the snowball effect will now become a moon launch. I really don't think we have built the rocket to the moon yet with the amount of buyer currently in the market but who knows maybe we will soon. All I know is all I used to do was short bitcoin. I did it again and again every pop, every good news that came out even paypal... but now I am on the long side. I keep seeing us bounce off the 300 level and I see higher lows while the double bottom has been confirmed. I am now 110% long using my margin for a long position now. Bye bye bears. See you around the 400 level maybe  |
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BlindMayorBitcorn (OP)
Legendary
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Activity: 1260
Merit: 1115
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November 10, 2014, 10:34:59 PM |
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I have made a lot of money shorting bitcoin many times but have covered always around 300... There are too many companies and retail investors ready to buy many coins below 300 so dips below there will continue to get harder and harder. That's why this dip we only got to 315. I have stopped shorting this month for one simple reason....... EVERYONE IS TRYING TO SHORT WHICH WILL LEAD TO A HUGE BOUNCE WHEN EVERYONE TRIES TO COVER THEIR SHORT!Right now short interest is at 62% but the rate of it's rise is slowing down... Also a few weeks ago they literally ran out of bitcoin to lend out to shorters. Basically for people who don't get how this works, I will explain it is very simple. Someone lends bitcoin to me at a certain interest rate. I used that borrowed bitcoin with my collateral(more bitcoin) and instead of shorting a few coins I could now short approx 10. I then make a contract with the exchange to BUY BACK those ten bitcoin in the future(hopefully at a lower cost so I profit) This is where the magic happens... If the price doesn't go down but it goes up instead then I must buy back those ten bitcoin at a loss, at a higher price, and if I wait too long(maybe a $50-100 increase in btc price) they will literally take all your collateral and just place a buy order for the 10 bitcoin right there. This is what is happening everyday now. Literally every order(long or short) will eventually be a buy order for the market! This is how the stock market had many repeated bubbles like we will have here for bitcoin! More shorters will cover everyday and every rise more shorters will assume this is a ATH and short more but they will have to cover another day. More buyers entering the market while more miners hold for larger gains. Everyday there will be huge jumps up and the snowball effect will now become a moon launch. I really don't think we have built the rocket to the moon yet with the amount of buyer currently in the market but who knows maybe we will soon. All I know is all I used to do was short bitcoin. I did it again and again every pop, every good news that came out even paypal... but now I am on the long side. I keep seeing us bounce off the 300 level and I see higher lows while the double bottom has been confirmed. I am now 110% long using my margin for a long position now. Bye bye bears. See you around the 400 level maybe Epic trader. I salute you, sir |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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PopTarts
Newbie
Offline
Activity: 7
Merit: 0
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November 10, 2014, 11:16:44 PM |
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I have made a lot of money shorting bitcoin many times but have covered always around 300... There are too many companies and retail investors ready to buy many coins below 300 so dips below there will continue to get harder and harder. That's why this dip we only got to 315. I have stopped shorting this month for one simple reason....... EVERYONE IS TRYING TO SHORT WHICH WILL LEAD TO A HUGE BOUNCE WHEN EVERYONE TRIES TO COVER THEIR SHORT!Right now short interest is at 62% but the rate of it's rise is slowing down... Also a few weeks ago they literally ran out of bitcoin to lend out to shorters. Basically for people who don't get how this works, I will explain it is very simple. Someone lends bitcoin to me at a certain interest rate. I used that borrowed bitcoin with my collateral(more bitcoin) and instead of shorting a few coins I could now short approx 10. I then make a contract with the exchange to BUY BACK those ten bitcoin in the future(hopefully at a lower cost so I profit) This is where the magic happens... If the price doesn't go down but it goes up instead then I must buy back those ten bitcoin at a loss, at a higher price, and if I wait too long(maybe a $50-100 increase in btc price) they will literally take all your collateral and just place a buy order for the 10 bitcoin right there. This is what is happening everyday now. Literally every order(long or short) will eventually be a buy order for the market! This is how the stock market had many repeated bubbles like we will have here for bitcoin! More shorters will cover everyday and every rise more shorters will assume this is a ATH and short more but they will have to cover another day. More buyers entering the market while more miners hold for larger gains. Everyday there will be huge jumps up and the snowball effect will now become a moon launch. I really don't think we have built the rocket to the moon yet with the amount of buyer currently in the market but who knows maybe we will soon. All I know is all I used to do was short bitcoin. I did it again and again every pop, every good news that came out even paypal... but now I am on the long side. I keep seeing us bounce off the 300 level and I see higher lows while the double bottom has been confirmed. I am now 110% long using my margin for a long position now. Bye bye bears. See you around the 400 level maybe Epic trader. I salute you, sir Yea shorting bad. No go to moon |
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jaberwock
Legendary
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Activity: 2548
Merit: 1073
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November 11, 2014, 12:37:49 AM |
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I stopped to short Bitcoin for a while, until things settle down.
I don't wanna have an premature heart attack
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belmonty
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November 11, 2014, 02:10:16 AM |
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I stopped to short Bitcoin for a while, until things settle down.
I don't wanna have an premature heart attack
Even if you get lucky with a successful short there are only small gains to be had at present. Plus, the odds are you will get unlucky shorting in a rising market. |
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Bulletin
Member
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Activity: 71
Merit: 10
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November 11, 2014, 06:17:21 AM |
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I am shorting too, no hard attack yet  |
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fewcoins
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November 12, 2014, 06:03:08 AM |
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I am shorting too, no hard attack yet True... I mean I see this rally running out of steam and people are getting too greedy too fast. I always play it safe so I just closed all my long positions at 383 on bitf Watching closely for a momentum change to maybe open short positions real soon |
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BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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May 09, 2015, 11:02:33 AM |
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<snip>
Especially so close to 'the bottom'
I guess hindsight is one of those things you really ought to have ahead of time.  |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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chmod755
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Activity: 1386
Merit: 1020
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May 09, 2015, 11:11:09 AM |
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That's a very old topic - is there a specific reason for bumping it again?
There are definitely more than 2 places to short Bitcoin. At least there's a third exchange: OKCoin + a few discount brokers (Plus500, Xcfd,....) are offering short positions on Bitcoin price.
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BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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May 09, 2015, 11:20:03 AM |
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That's a very old topic - is there a specific reason for bumping it again?
Nostalgia?: I hope nobody is still doin' this! |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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pereira4
Legendary
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Activity: 1610
Merit: 1183
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May 09, 2015, 11:46:57 PM |
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Shorting is too risky, you make more gains holding long term at the end of the day, or trading for great up and coming projects like Maidsafe. Im aiming at minimum doubling my total BTC stack with in the next months.
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chriswen
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May 10, 2015, 12:06:37 AM |
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While shorting is risky, there is also potential for massive gains, nothing to be laughed at.
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Amph
Legendary
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Activity: 3206
Merit: 1069
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May 10, 2015, 07:38:11 AM |
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While shorting is risky, there is also potential for massive gains, nothing to be laughed at.
not really true about the massive gain, with all those tiny slippages, unless you move something like 1k-10k bitcoin.... |
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chmod755
Legendary
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Activity: 1386
Merit: 1020
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May 10, 2015, 07:47:14 AM |
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While shorting is risky, there is also potential for massive gains, nothing to be laughed at.
not really true about the massive gain, with all those tiny slippages, unless you move something like 1k-10k bitcoin.... Some people certainly made a lot of money in short positions in 2014. Of course the gains on a long position in a rally are higher, but you could still make a decent amount of money - especially with leverage. |
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randy8777
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Activity: 896
Merit: 1000
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May 10, 2015, 09:21:00 AM |
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big guys shorted bitcoin at around $300 and others will or might do it now. that's the difference. they know exactly when to short and buy the coins back at 20% discount.
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chriswen
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May 10, 2015, 03:36:05 PM |
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While shorting is risky, there is also potential for massive gains, nothing to be laughed at.
not really true about the massive gain, with all those tiny slippages, unless you move something like 1k-10k bitcoin.... Using futures at Okcoin.com people can utilize up to 20x leverage. It also means people can trade with smaller accounts. And it means you're able to double up on a 5% move. Some people are wrong but others having been immensely profitable. |
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