Topic: My first short :o (Read 1746 times)

There are boats at all prices, from 1000$ for a small used one, to $15 billions for a new Ford-class aircraft carrier.

What's so hard?
Lets say 100btc at 70 is 7000usd, now it's worth 270000usd

I'm pretty sure boats are not that expensive......

we don't how exactly he bought and he don't continue to discuss with us. maybe now he is enjoy with the money he got and forget about his thread. but i am in the same with you to suggest to hold from now and only sell if the price is break more high.

Out of embarrassment, I believe OP will not come back for a while. He claimed to have shorted 75% of his Bitcoins which might have taken a big loss or maybe he still taking a big loss if he did not panic in closing his position. But usually we amateurs panic no matter what we say to everyone.

I don't get it, he bought at $70 and just now has enough to buy a boat? did he just throw a couple hundred at it? is so this story is more sad than happy. In any case, hold

Correct why someone that has held for such a long amount of will decide all of the sudden that the best thing for him to is to short bitcoin? Keep holding until the day you are rich.

That's right, bitcoin gives us a chance to get rich quick, however, you also need a little luck and an accurate choice, the time of purchase and sale is important, just grasp it, You will be rich.

Are you still live or died? I can't stop laughing when read this thread and checking the price in this time is under $2000, maybe he do that when the price of Bitcoin at $1800, bad luck when try short at lowest price. RIP him

Last time he posted he was saying something about dead cat bounce in the middle of the pump. So yeah, I guess he didn't get out of his short in time.

Bad luck.

He dieded.

Well, look at the all-time bitcoin chart. Shorting such a market is extremely risky. The trend is clearly up.

Did you do it at $1800?
I am kind of intrigued because he posted this when bitcoin was crashing and he have a boat now if he sold at $2600.
Decisions. Decisions. If you did it at the right time then you are a boat man now. 
The second post graph did not hit it right at $1500 but he almost have a right prediction. Good job.

I do think so too... But anyway, for him to make peace with himself, this is not its fault, as this was probably one of the highest growth in all times. +1000$ in 3 days is a pure record I think.

I think this guy is dead.

Maybe fastest wipeout ever. Worst short ever is probably back in the $1 days

Potentially worst short ever?

LOL did you lose everything OP?

Can you give us the link to Goldman Sachs' technical analysis? I usually laugh and take them with a grain of salt but this one might give me some peace of mind. Hehe.

Yeah, I have a hard time believing OP went short on bitcoin--but I have a hard time believing anything people say on this forum anyway.  He might have sold his stash, but that's not shorting.  What exchange did you do this on, OP?

The comments here are actually interesting,  which is unusual.   Me, I'd be buying if I had any cash.  That seems to be a perpetual problem with me.  And I have to say, perhaps Goldman Sachs was right with their prediction of $1800 as the bottom.  We might reach that fairly soon.

And now we have crossed the $2000 level. I really hope your prediction about panic picking up and the price going down deeper really becomes true. I will just treat it as an opportunity to get some more cheap coins.

i would love to hear it also but my first assumption whenever i hear a name of a new altcoin out of the blue which is claiming to be "fixing the scaling issue" is that they are trying to pump it to make money. and you'd be surprised how many of these altcoins i have seen so far

afterall the biggest one that literary everyone has heard about is called ETH and we saw how their "claims to fix the scaling issue" failed with a simple surge of transactions and the whole network of it shut down completely!

now i said i am interested in hearing about it because i am always interested in seeing new technologies and how they innovate. but i would not believe it until it is put to test. and that means processing a large number of transactions for a good amount of time an not failing horribly..

I'm very skeptic that this kind of scalability I'm looking for has already been reached since January and yet it's not been announced everywhere, but I'll take a look later. If you have some time to spare, could you tell me (in few paragraphs) how does PascalLite achieve it? Or link me to a paper? Almost 19 hours since I woke up, so my brain is not in the mood to search for it right now.

Try PascalLite and Pascalcoin and you will see the scaling that you are looking for. Its not only bitcoin. There are more.
PascalLite https://bitcointalk.org/index.php?topic=1773026.340

You are right about everything, except for calling them "amateurs". I disagree on your use of the word here. Here goes my thought: if you really are a specialist, you should have predicted what happened. It was quite obvious bitcoin would not go from 1k USD to 50k USD in one go. There are people that actually make money from the market. They are not holding. They just keep buying and selling constantly and taking "small" profit from each buy-sell loop. They definitely make more money than those who are holding while complaining others aren't. I don't belong to either side right now. I don't own any bitcoins.

If everyone buying bitcoins believed it would go to $50k in one go, it definitely would. But it seems this time they didn't even believe it could reach $3k, since they started selling before that, making the price quickly drop again. That's how people are. Only a few intend to keep their bitcoins forever. Most of them just want to make some profit, buying and then selling them back at a higher price. I don't know which group you belong to, but if you are part of those who intend to sell it at some point (even if it's at the $100k/bitcoin point), then you fit into your own definition of "amateur". Those who actually believe in the technology shouldn't ever sell their bitcoins for fiat money (unless they are in desperate need of such money).

Btw, I once did believe in the technology. I don't anymore. There is absolutely no decentralization when only a few huge companies have enough power to process transactions. Blockchain just doesn't scale. I won't believe in any of those technologies until I see one that can either handle at least a million or so transactions per second (with much lower fees than we have today) OR can actually scale proportionally to the number of peers in the network. Having said that, I do believe bitcoin is an easy way to make lots of money, but the blockchain technology just can't handle all the transactions in the world, so it can't replace centralization yet.

Wow, the price fall has really gained momentum now.  Price is $2070 on coinmarketcap.com
11+% decline in the last 24 hours. $2000 doesn't look unbreakable now.

rubbish. If you had been buying BTC since price was 70 bucks, you'd been multimillionaire by now and could buy many boats.

This is definitely bad news when amateur traders find it in themselves the courage to do short sells on Bitcoin. Short selling is a form of betting against Bitcoin and this does not bode well in the coming months.

What happened to "buy and hold, and buy the dips"? Do you not believe in the technology anymore?

Market is testing all low and we cannot say how much low it will go but now everyone is buying the altcoin in against of bitcoin because when the fork happens if anything happen altcoin can go up like eth have a good scope of boosting by this bitcoin fork if it got failed.

The $2200 level has never been anything of significance, so there is no point into emphasizing that. I don't understand why people constantly get hyped up just because the price is falling down. If you pay close attention to the charts, you'll see that we have been below $2200 already last month. I don't see any indication of the price going much lower than what we have seen today. People let the panic get the better of them, and thus sell as result. I don't think anyone with some sort of market understanding sees this as something worrisome. My guess is that we won't see the market fall below $2100, and ultimately not below the $2000 level.

True, you should try to get back again and enjoy the ride. If you are waiting for $1500 then I don't think you will get your chances. Prices is still holding at $2200 and I don't think it can be break as well. And very nice decision though for deciding to go for $2600. I think you made the right decision.

An early adopter who bought bitcoins at $70 and never involved any trading but suddenly entered into shorting from $2600 and waiting for $1500. I am not ready to believe all these still I must say if everything is true, you will get disappoints alone in both the case of hitting $1500 or not.

If $1800 breaks then no one could save bitcoins reaching $1200 levels and I guess there will be very thin chances for $2100 to get broken as per current scenarios.

I guess current prices of $2250 seems good levels for profit booking as you have sold around $2600. Better re-enter right now else regretting will be inevitable.

At this point there is nothing surprising to see. It's all known how the market is moving up and down within a certain range. I don't see anything significant happen until we dive below the $2000 level. If that happens, I am fairly sure the panic will pick up and drive the price down even deeper. Any serious trader/investor has done most of his cashing out at levels between $2700-$3000 not that long ago. Market at that time was greatly overbought, and basically had no chance of going up even further without any sort of scaling solution.

^^ Lauda chillin. ^^ 

i think you are either very confused or want to say multiple contradicting stuff at the same time!
you want the price to go down so you can buy at your dreamy price so you say _indirectly_ bitcoin is dead and then at the same time _indirectly_ say bitcoin is going to go to the moon.

for example you say "multiple years of decline" then you are still "bullish" make up your mind man

and just FYI, bitcoin was at $2600  10 days ago. you waited this long to make this topic! weird!

Good for you. I agree that it may go down a bit more, but 1500 seems too low to me. Perhaps 2000 or so, and it would be a great profit yet.

There has been some days good for shorting by the way.

If you sold coins you owned then you didn't short.

If you borrowed coins and are now waiting to buy them back at a lower price, paying margin fees in the meantime, then you're shorting.

You are not spreading FUD, I think you are in fact saying something clever. I think that like you many people are getting afraid of August 1st, and this is the reason why price is slowly decreasing lately. But exactly as you, I think that this is just a temporary downtrend, which will, according to me, last a few month before real moon is reach by March-August of next year.

Not here to spread fud or trying become a bear but look at this:




It Is very likely it will plummet a bit before it moons again. Keep in mind we alreade went x3 and this is not a bubble

Wowow I knew somthing was comming. Hoarding BTC since 70 dolla  no trading ever made. Shorted at 2600.
I was not going to experiece multiple years decline again like the 1200 peak aftermath.
Now I have joy when the market crashes. Feels so good .
I'm 75% short btw
I'm still bullish in the long run btw
Looking to buy again at 1500 so I can buy myself a new boat