BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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November 28, 2014, 02:10:15 AM |
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Looking to open a really godless monster of a short position, 20x leveraged. Can we do that yet? I would really like to short Ripple right now. I cannot stress this enough
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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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In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
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Brmaster
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Activity: 69
Merit: 10
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November 28, 2014, 03:23:54 AM |
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20x leverage is nothing, 50x/100x/200x would coming soon.
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Useli Violent
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Activity: 68
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November 29, 2014, 01:15:19 AM |
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No, you can't.
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BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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November 29, 2014, 01:25:34 AM |
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No, you can't.
That's a damn shame that |
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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Useli Violent
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Activity: 68
Merit: 10
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November 29, 2014, 01:27:47 AM |
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Yup - so many alt/shit/whatever coins we would love to short, but can't.
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God27
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Activity: 364
Merit: 250
The 4th industrial revolution!
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November 29, 2014, 02:13:46 AM |
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No, you can't.
That's a damn shame that You can short BTC on ripple...kind of ironic |
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Sukrim
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Activity: 2618
Merit: 1006
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November 29, 2014, 01:51:29 PM |
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I suspect you want to short XRP, not "Ripple"...
What can you offer as collateral?
Why would anyone give you XRP (or anything else) with only 5% collateral in the first place (which is what 20x leverage means)? This means you'd likely have to find someone with a lot of XRP or at least with a lot of buying power who trades for you.
What's the time frame of your position and how will you handle margin calls (e.g. extend your position)?
Last but not least: How much interest do you offer for that position?
Of course it is possible to come to an OTC agreement with someone to short/long whatever you want, you'd need to make a concrete offer though, that likely has to contain answers to the questions above. Also it would likely help to sign the offer with a BTC address of yours that actually contains some coins, depending on the size of your position, nobody will bother to go through all that hassle for a lousy 10 USD profit.
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ElectricMucus
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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November 29, 2014, 04:28:06 PM |
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Why not wait until it's natively supported? They just released the smart contracts API Codius which can be used for such a thing.
You'd even have a chance of turning a profit by then.
I'd even offer to be a counterparty, but I'll want USD as collateral.
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Sukrim
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Activity: 2618
Merit: 1006
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November 29, 2014, 05:57:03 PM |
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This alone should tell you that Central Exchange do this on daily basis they take the coins which are on them and manipulate the price to get profit out of the coin. While giving the same coins back to the holder with no respond they would ever have done this. The first part was correct (though a bit redundant, I would guess OP already knows what shorting is and how it works, if he requests insane leverages like 1:20), this part is just... confused. Also I don't really get how something that (manually!) tracks NXT prices should enable OP to short XRP. |
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BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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November 29, 2014, 06:07:09 PM |
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I suspect you want to short XRP, not "Ripple"...
What can you offer as collateral?
Why would anyone give you XRP (or anything else) with only 5% collateral in the first place (which is what 20x leverage means)? This means you'd likely have to find someone with a lot of XRP or at least with a lot of buying power who trades for you.
What's the time frame of your position and how will you handle margin calls (e.g. extend your position)?
Last but not least: How much interest do you offer for that position?
Of course it is possible to come to an OTC agreement with someone to short/long whatever you want, you'd need to make a concrete offer though, that likely has to contain answers to the questions above. Also it would likely help to sign the offer with a BTC address of yours that actually contains some coins, depending on the size of your position, nobody will bother to go through all that hassle for a lousy 10 USD profit.
I honestly didn't expect such a thoughtful response. So...thanks for that  |
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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Sukrim
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Activity: 2618
Merit: 1006
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November 30, 2014, 11:07:36 AM |
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So... what's you offer now?
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BlindMayorBitcorn (OP)
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Activity: 1260
Merit: 1115
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November 30, 2014, 11:13:08 AM |
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So... what's you offer now?
This was days ago. 'XRP' already dumped  |
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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