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Thread: Bitcoin

  1. #2021
    Lana Torrin's Avatar
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    Quote Originally Posted by Aea View Post
    Quote Originally Posted by dzajic View Post
    And finally, what would I need to short it?
    Suckers.
    Plenty of them...
    Quote Originally Posted by lubica
    And her name was Limul Azgoden, a lowly peasant girl.

  2. #2022

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    Quote Originally Posted by Lana Torrin View Post
    Quote Originally Posted by Aea View Post
    Quote Originally Posted by dzajic View Post
    And finally, what would I need to short it?
    Suckers.
    Plenty of them...
    Short one of the ETFs. Or buy put options on the ETF or on the futures.

  3. #2023

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    Do any direct ETFs exist? Last I looked they were still stuck in regulatory purgatory and all that was available was ETF's based on secondary bitcoin industries (like graphics cards).

  4. #2024

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    Quote Originally Posted by Nicholai Pestot View Post
    Do any direct ETFs exist? Last I looked they were still stuck in regulatory purgatory and all that was available was ETF's based on secondary bitcoin industries (like graphics cards).
    You're absolutely right. I was thinking of the GBTC OTC ETF, but that appears to be disaster zone. While I was looking for the ETF I ran across this from Bloomberg. Looks like you can buy options directly on BTC as well. Either way, a few choices there.

  5. #2025
    Specially Pegged Donor Overspark's Avatar
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    While there's undoubtedly a dip coming at some unpredictable point in the future it'll undoubtedly go back up afterwards. So far people have been predicting the burst of the bitcoin bubble since bitcoin started and while it has had it's fair share of dips (small and large) it's overall trend upwards is pretty clear. There are lots of doomsayers right now but there are no fundamental reasons why bitcoin won't keep climbing for quite a while to come. The biggest thing to worry about is competition from other cryptocurrency, but they're all still quite a bit smaller than bitcoin itself.

    Shorting it right now seems unwise.

  6. #2026
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    ETH is considerably more stable since its much more boring and has minor buy in from some boring companies.

    Fuck knows what'll happen for Bitcoin. it'll probably end in tears though.
    Quote Originally Posted by Paul Mason
    It is absurd that we are capable of witnessing a 40,000 year old system of gender oppression begin to dissolve before our eyes yet still see the abolition of a 200 year old economic system as an unrealistic utopia.

  7. #2027
    Specially Pegged Donor Overspark's Avatar
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    While I agree with you ETH has suffered alongside Bitcoin at every dip this whole year. It's foolish to put all your eggs in one basket, but it's hard to find a cryptocurrency that stays strong or even goes up while Bitcoin dips. BCH seems to be working that way for now, but that's a very recent development so not very reliable yet.

    Personally I'm split over >10 coins and am doing quite well by just re-balancing every now and then.

  8. #2028
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    What exchanges do people use to cash out now anyway? All I ever hear about are exchanges being hacked and people losing money.
    Quote Originally Posted by Paul Mason
    It is absurd that we are capable of witnessing a 40,000 year old system of gender oppression begin to dissolve before our eyes yet still see the abolition of a 200 year old economic system as an unrealistic utopia.

  9. #2029
    The Pube Whisperer Maximillian's Avatar
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    The issue for the exchanges is how much liquidity (i.e. cash) they have access to if they are suddenly faced with more sellers than buyers? If the banks face a run their are systems in place and ultimately the Governments step in but no such thing exists for digital currencies.

  10. #2030
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    Quote Originally Posted by Keckers View Post
    What exchanges do people use to cash out now anyway? All I ever hear about are exchanges being hacked and people losing money.
    "hacked"

  11. #2031
    Lowa [NSN]'s Avatar
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    Quote Originally Posted by Keckers View Post
    What exchanges do people use to cash out now anyway? All I ever hear about are exchanges being hacked and people losing money.
    Not sure if its still a thing but wasnt gold exchange one way to "get out" before? Or was only for shady stuff?
    Quote Originally Posted by Tarminic View Post
    I would create a dragon made out of vaginas. Then I would create a dragon made out of dicks. Then I would have them fight to the death.

  12. #2032
    Donor Aea's Avatar
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    Why does exchange liquidity matter? Itís basically exchange. They match buyer and seller. Some obfuscate this like Coinbase.

    Whether or not they actually lose all your shit because they give zero fucks about sec is another issue.


    Sent from my iPhone using Tapatalk

  13. #2033
    Djan Seriy Anaplian's Avatar
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    Cashed out today, as usual kraken made it a nightmare.

  14. #2034
    Specially Pegged Donor Overspark's Avatar
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    Today was a buy day, not a sell day. Buy the dip!

    Also Kraken is terrible right now, but several exchanges fell over today, most notably Coinbase. Kraken say they're getting a big upgrade next week.

  15. #2035
    Djan Seriy Anaplian's Avatar
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    Quote Originally Posted by Overspark View Post
    Today was a buy day, not a sell day. Buy the dip!

    Also Kraken is terrible right now, but several exchanges fell over today, most notably Coinbase. Kraken say they're getting a big upgrade next week.
    What dip? I sold at 9000€, it may go higher but i'm quite happy with what i've made.

  16. #2036
    Specially Pegged Donor Overspark's Avatar
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    Quote Originally Posted by Djan Seriy Anaplian View Post
    Quote Originally Posted by Overspark View Post
    Today was a buy day, not a sell day. Buy the dip!

    Also Kraken is terrible right now, but several exchanges fell over today, most notably Coinbase. Kraken say they're getting a big upgrade next week.
    What dip? I sold at 9000€, it may go higher but i'm quite happy with what i've made.
    It peaked at €9500 today, then dropped to €7440, and is now trading at around €8500. Pretty much every other cryptocurrency followed. Easy money if you got the timing right.

  17. #2037
    Djan Seriy Anaplian's Avatar
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    Quote Originally Posted by Overspark View Post
    Quote Originally Posted by Djan Seriy Anaplian View Post
    Quote Originally Posted by Overspark View Post
    Today was a buy day, not a sell day. Buy the dip!

    Also Kraken is terrible right now, but several exchanges fell over today, most notably Coinbase. Kraken say they're getting a big upgrade next week.
    What dip? I sold at 9000€, it may go higher but i'm quite happy with what i've made.
    It peaked at €9500 today, then dropped to €7440, and is now trading at around €8500. Pretty much every other cryptocurrency followed. Easy money if you got the timing right.
    I hold long and sell when i get the time, I was happy to make about 12000 euro and will buy again when it crashes. I don't day trade because given the state of the exchange i use, it's pretty dumb; I also don't have the time - work until midnight regularly.

  18. #2038
    Lana Torrin's Avatar
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    Quote Originally Posted by Overspark View Post
    Quote Originally Posted by Djan Seriy Anaplian View Post
    Quote Originally Posted by Overspark View Post
    Today was a buy day, not a sell day. Buy the dip!

    Also Kraken is terrible right now, but several exchanges fell over today, most notably Coinbase. Kraken say they're getting a big upgrade next week.
    What dip? I sold at 9000€, it may go higher but i'm quite happy with what i've made.
    It peaked at €9500 today, then dropped to €7440, and is now trading at around €8500. Pretty much every other cryptocurrency followed. Easy money if you got the timing right.
    This is the issue I have with it as a currency... How the hell am I supposed to buy something if it fluctuates 22% in a single day...
    Quote Originally Posted by lubica
    And her name was Limul Azgoden, a lowly peasant girl.

  19. #2039
    The Pube Whisperer Maximillian's Avatar
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    It's no longer a currency, it's a speculative investment vehicle that is soaking up the same flood of money that normally goes into derivatives.

  20. #2040
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    Bitcoin has neither the market cap nor even the sheer technical transaction capacity to adsorb but a fraction of speculative investments "attention".

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