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Topic: Guy loses 240-600 BTC trying to short - page 4. (Read 3697 times)
Ah laugh at these fools who tryin' ta short dick the whole market. Y'all playin' wit fire over a swimmin' poo filled wit gasoline! Don't thank the market is nowhere near as inflatimagated as some o' these people thinks. You all can lose yo shirt, pants, an' RayBan sunglasses in this a here market. No way I'm gon' short bitcoin right now. Everrbody buyin' now. There no limit ta how much y'all could lose.
Tell to your friends if they wanna sell, sell at 1200$. Now Bitcoin still wandering around looking for his new head( resistance) "my 2cent".
Long live the great BITCOIN !
Long live the great BITCOIN !
Shorting is a kind of game not suitable for bitcoin but it could be very useful in other altcoins. Bitcoins characteristics being the prototype cryptocurrency is unlike any other alternative coins in the market. Bitcoin should be hold and dont sell in a very short span of time if you want to profit from the price inflation that happens all the time. It is also true that many have gain large profit from holding their bitcoins and I have the same view as I am saving some amounts in case a skyrocket price happens.
He didn't lose the money, he just sold and got nothing from it. He lost what he could've gained, money he never had in hand.
You could say you lost as well, because a week ago you could've sold everything you had, put money in bitcoin and profit.
You could say you lost as well, because a week ago you could've sold everything you had, put money in bitcoin and profit.
I think it is best to short if you are from the future and you have the printout or the copy of Bitcoin trading history 
because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.
On the contrary I'd go long on bitcoin at any point in history. because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.I think it is best to short if you are from the future and you have the printout or the copy of Bitcoin trading history because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.
because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.This evidently won't work
At least, not in the way you think. When you start using your printout, you will inadvertently change the future. You may claim that if you trade some small bitcoins (without being too greedy), the future price will not change much, but this is only an assumption since however small impacts may have however big consequences (see the Butterfly Effect). Regarding that poor guy, he may not be that poor as we might think of him. Before the Bitfinex hack (two days before, to be precise), someone had been heavily shorting Bitcoin too, so we may just have witnessed a failed attempt at hacking some major exchange (or it simply hasn't yet come to light)
I do agree but well this is just an example of how hard it is if we are trying to do short trades. The outcome is always uncertain. More likely a gamble in our part, and I think it is better to do Binary option trading than shorting. What do you think?
I think it is best to short if you are from the future and you have the printout or the copy of Bitcoin trading history because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.
because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.This evidently won't work
At least, not in the way you think. When you start using your printout, you will inadvertently change the future. You may claim that if you trade some small bitcoins (without being too greedy), the future price will not change much, but this is only an assumption since however small impacts may have however big consequences (see the Butterfly Effect). Regarding that poor guy, he may not be that poor as we might think of him. Before the Bitfinex hack (two days before, to be precise), someone had been heavily shorting Bitcoin too, so we may have just witnessed a failed attempt at hacking some major exchange (or it simply hasn't yet come to light)
I think it is best to short if you are from the future and you have the printout or the copy of Bitcoin trading history because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.
If he is from the future and he changes the past won't he end up changing the future? He might end up getting stuck in a so called fictionally ontological paradox aka casual loop! because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.
I think it is best to short if you are from the future and you have the printout or the copy of Bitcoin trading history because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct.
because you know the transition point and effectively short on it and buy back at the start of the uptrend after the decline in price, else it would be very risky just what happened to the person sampled by OP. Shorting is almost the same as gambling because you don't have any strong reference that the price will go down just your instinct. https://twitter.com/whalecalls/status/815598251319640064
I tried to warm my friends on IRC about the dangers of shorting, but they wouldn't listen.. they think they can time the market, when this is impossible, you can only look forward to trying to predict the fundamentals, and the fundamentals are clearly telling us to buy and hold long term. People that bought every dip instead of trying to be the smartass that tries to short has made massive gains this year.
Quote
Okcoin $BTCUSD Quarterly futures has liquidated a short position of 47857 contract at 1,065.58 - 2017-01-02 00:38:56
I tried to warm my friends on IRC about the dangers of shorting, but they wouldn't listen.. they think they can time the market, when this is impossible, you can only look forward to trying to predict the fundamentals, and the fundamentals are clearly telling us to buy and hold long term. People that bought every dip instead of trying to be the smartass that tries to short has made massive gains this year.
On the bright side, somebody made 240-600 BTC from taking the other side of this trade.
https://twitter.com/whalecalls/status/815598251319640064
I tried to warm my friends on IRC about the dangers of shorting, but they wouldn't listen.. they think they can time the market, when this is impossible, you can only look forward to trying to predict the fundamentals, and the fundamentals are clearly telling us to buy and hold long term. People that bought every dip instead of trying to be the smartass that tries to short has made massive gains this year.
Short selling is ALWAYS a risk and a form of gambling. They always bet against the trend of price going up. It has a limited reward but is surrounded by unlimited risks. Sadly that guy short a stock the wrong way and ended up drilling a hole on his own hand :/ Quote
Okcoin $BTCUSD Quarterly futures has liquidated a short position of 47857 contract at 1,065.58 - 2017-01-02 00:38:56
I tried to warm my friends on IRC about the dangers of shorting, but they wouldn't listen.. they think they can time the market, when this is impossible, you can only look forward to trying to predict the fundamentals, and the fundamentals are clearly telling us to buy and hold long term. People that bought every dip instead of trying to be the smartass that tries to short has made massive gains this year.
I tried to warm my friends on IRC about the dangers of shorting, but they wouldn't listen.. they think they can time the market, when this is impossible, you can only look forward to trying to predict the fundamentals, and the fundamentals are clearly telling us to buy and hold long term. People that bought every dip instead of trying to be the smartass that tries to short has made massive gains this year.
I can understand what motivated them to short,futures is always a high risk game and with the price of bitcoin having a stable growth till $800 they should have thought that the price would stabilize after the Christmas bubble and i am sure no one predicted the price to break the resistance of $1000 by new year and now the price is running to new heights.
Bad period for short position. I suppose that he thought the price will fall because it's going up for a long time now but there are no actual signs for this so he made the wrong decision. This was more hazard them rational decision and that costs him but he learned something for the future.
Forex is a hard thing to predict, some people has sucessfull transactions for a while, the question is for how long they will be able to keep into the gree light. I am following a thread that looks like the op has some knowledge and information to play and stay on green. But playing short at any currencie is the same to ask to loose your money, i do remember some broker i had used changes more then others brokers, and then i realized why, those broker were eating the short up and down. Even the expert traders loose, i do remember an etoro trader that had 100 sucess trades and were stucked with one open trade at euro when it were 1.47 against dollar, those still open till today, soo if they fail to close their trading positions and do loose some money why others will only make money?
What does 'shorting' mean?
An action of selling or trading shares with an expectation of the price will go down over time and can rebuy at a lower price to gain profit.
Code:
A short, or short position, is a directional trading or investment strategy where the investor sells shares of
borrowed stock in the open market. The expectation of the investor is that the price of the stock will decrease
over time.
Read more: Short (or Short Position) Definition | Investopedia http://www.investopedia.com/terms/s/short.asp#ixzz4UcU6i1bq
What I find interesting is that some people refer to shorting to not only selling and expecting to buy back cheaper, but doing so with leverage. As in shorting implies leverage (which means they are losing more money than the difference between the selling point and the new higher price after selling). You can end up in debt even
That's the thing that makes shorts extremely dangerous
If you buy even on borrowed funds and the price goes down, you can lose only so much. The price can't hit the floor and then go into negative territory. With shorts, it is a completely different story because you always have to borrow funds when shorting (otherwise you would be just selling your own stash and get done with that), and the price can keep on rising indefinitely long potentially putting you more and more in debt
Why would anyone want to short when it is obvious that it is going to up from the beginning of the year? 
That is a no brainer because that's what it does every year then it goes down in February or mid-month here after.
Come on now, some people especially when trading volume so high should use their brains.
I woudnt blame them for thinking in that direction and it just went the other way around now. Its a risk a versatile trader will take going the opposite direction of the masses and this could mean gold mine.That is a no brainer because that's what it does every year then it goes down in February or mid-month here after.
Come on now, some people especially when trading volume so high should use their brains.
That pattern will die as soon as enough people notice it.
People will start buying in December and sell it in January to take advantage of the price increase.
When that happens, the price will start falling in January.
People will start buying in December and sell it in January to take advantage of the price increase.
When that happens, the price will start falling in January.
This is something I have heard over and over and its actually a possibility going through historical analysis of events surrounding Bitcoin. However, the past sometimes might not be a perfect determination of the future as several events might have happened to negate what happened in the past.
Why would anyone want to short when it is obvious that it is going to up from the beginning of the year?
That is a no brainer because that's what it does every year then it goes down in February or mid-month here after.
Come on now, some people especially when trading volume so high should use their brains.
That is a no brainer because that's what it does every year then it goes down in February or mid-month here after.
Come on now, some people especially when trading volume so high should use their brains.
That pattern will die as soon as enough people notice it.
People will start buying in December and sell it in January to take advantage of the price increase.
When that happens, the price will start falling in January.
Well for me i just relaying what is the movement from last year.. since bitcoin is gradually developed and many company are using bitcoin
It is hard to predict if the price can be fall..
So i think they are just wrong in prediction but they must monitor the movement and not short all of their holdings just few percentage. and buy if the price will goes down if not better to the rest and wait for timing..
Why would anyone want to short when it is obvious that it is going to up from the beginning of the year?
That is a no brainer because that's what it does every year then it goes down in February or mid-month here after.
Come on now, some people especially when trading volume so high should use their brains.
That is a no brainer because that's what it does every year then it goes down in February or mid-month here after.
Come on now, some people especially when trading volume so high should use their brains.
That pattern will die as soon as enough people notice it.
People will start buying in December and sell it in January to take advantage of the price increase.
When that happens, the price will start falling in January.
Anyone who can bet $300,000 to $500,000 on a short probably has enough money to cover it.
Its still probably a big loss, but I'm assuming this person probably has made millions off Bitcoin already.
Personally I would never take a short against Bitcoin right now. Things have so crazy lately. The price seems to be going up with no signs of stopping.
(Although a slight drop in price could be just as likely, I guess.)
You are right even those loses he experienced on doing short trades wont really matter to him but for me it does really hurt and 240-600 BTC is no joke already and i could able to buy a house on that amount. Its nor really ideal to to short trades on bitcoins price movement as of now and as you said its still increasing gradually it may fall down sometimes but only on a small amount only and goes back again and continue to rise. Its still probably a big loss, but I'm assuming this person probably has made millions off Bitcoin already.
Personally I would never take a short against Bitcoin right now. Things have so crazy lately. The price seems to be going up with no signs of stopping.
(Although a slight drop in price could be just as likely, I guess.)
What does 'shorting' mean?
it's very simply it's mean that you sell because you believe that the price will go down, if we talk about opening position, it's mean that you speculate on the price going down, if you go long you speculate on the price going up, then if it go down when you short you close the position and win an amout on the % or if it go up you close the position if you were long
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