Bitcoins are officially donkdown

[Krypt]

I still remember watching this segment live and nearly spitting my latte out:

[snake_in_the_ass]

I still remember watching this segment live and nearly spitting my latte out:

That is a sell signal. Similar to this one: Warren Buffett predicts the Dow will hit 1 million and that may actually be pessimistic

[snake_in_the_ass]

Only financial advisor touts use that line "I'm not wrong, I'm just early." Peter Schiff is famous for using that line. If you took sonatines advice and shorted BTC, you would be bankrupt. So how was he right?

So far he couldn't be more wrong. It's at 8K not zero you are just making yourself look like a jackass IF IT GOES TO ZERO OR EVEN 1K YOU HAVE ALL THE RIGHT IN THE WORLD TO TALK SHIT but not when it's @ 8k and was @ 400 last year. Surely you see how this would make you look like a shit talking schmuck right?

No. Even WHEN it goes to $0, he has no right to say anything. You can't cry wolf everyday for 4 years and then take credit the one time the wolf shows up. Now if he shows me a futures trade where he shorted and cleaned up, then he can open his mouth.

[big dick]

Good point.

[snake_in_the_ass]

DonaldTrumpsHairPiece needs our help. Sonatine and Krypt, start bashing the coins so they go up. If it drops anymore, we might lose a member.

[Dan Druff]

Remember a few days ago when the 8000s were the new normal for BTC?

Welcome to the 7000s.

[Dan Druff]

I'm about ready to put my money where my mouth is, and short bitcoin.

Who here has actually done this?

I see some suggested ways of shorting or pseudo-shorting here: https://www.investopedia.com/news/short-bitcoin/

Also willing to make bets with people here regarding the price of BTC on, say, June 1.

[Salty_Aus]

I'm about ready to put my money where my mouth is, and short bitcoin.

Who here has actually done this?

I see some suggested ways of shorting or pseudo-shorting here: https://www.investopedia.com/news/short-bitcoin/

Also willing to make bets with people here regarding the price of BTC on, say, June 1.

A month ago I would have said great time, now I'm not so sure this is good timing. But with this said I still predict downward pressure.

[Krypt]

I'm about ready to put my money where my mouth is, and short bitcoin.

Who here has actually done this?

I see some suggested ways of shorting or pseudo-shorting here: https://www.investopedia.com/news/short-bitcoin/

Also willing to make bets with people here regarding the price of BTC on, say, June 1.

Simply naked short $GBTC

Edit - this is not a recommendation

[handicapme]

I'm about ready to put my money where my mouth is, and short bitcoin.

Who here has actually done this?

I see some suggested ways of shorting or pseudo-shorting here: https://www.investopedia.com/news/short-bitcoin/

Also willing to make bets with people here regarding the price of BTC on, say, June 1.

Simply naked short $GBTC

Edit - this is not a recommendation

Shorting GBTC was a good idea when btc was trading +13k because of the ridiculous premium (I believe peak was ~25%) you were paying on the btc being held. If that premium has come down to sub ~10% you'd be an idiot to short it as you could get squeezed in theory up to 25/30% without btc even moving.

Futs or GTFO.

[GambleBotsChafedPenis]

I'm about ready to put my money where my mouth is, and short bitcoin.

Who here has actually done this?

I see some suggested ways of shorting or pseudo-shorting here: https://www.investopedia.com/news/short-bitcoin/

Also willing to make bets with people here regarding the price of BTC on, say, June 1.

Etrade/TD/interactive brokers cleanest and purest way to do it via futures...

You can also do nadex with binary options but spreads tend to be fucking dogshit...haven't looked at them for BTC but am gonna guess they are LOLbad...

[handicapme]

BofA,Citi,JPM and Lloyd's just announced that they would be bannung purchasing btc or any other crypto currency with credit cards. Any legit("legit"lol) brokerage will cut that option off, anyone who doesn't I'd get my coins off asap.

[GambleBotsChafedPenis]

FYI before you start trading futures make goddamn sure you know what the fuck you are doing regarding your position size, etc...

so if you are short 1 contract is that short 1, 5, 10 BTC and what is the monetary value of each tick (this is actually more important)?

also I would know what date your futures settle...think BTC is cash settled and not physically settled (ie actual BTCs), but you still want to be sold and rolled into the next month before the near month's futures go into settlement...

if you have never traded futures before familiarize yourself with all of this shit before you dive headfirst into trading them...

[Krypt]

Fast forward to today, when China appears to have unleashed its latest crackdown on cryptos. In the Financial News article, it acknowledged that recent attempts to stamp out digital currencies by shutting down domestic exchanges had failed to completely eradicate trading.

Chinese authorities pointed to Bitcoin's ability to facilitate "illegal fund-raising and other types of illegal financial activities," pointing to "pyramid schemes, fraud and other issues."

[Forum Wars]

So far he couldn't be more wrong. It's at 8K not zero you are just making yourself look like a jackass IF IT GOES TO ZERO OR EVEN 1K YOU HAVE ALL THE RIGHT IN THE WORLD TO TALK SHIT but not when it's @ 8k and was @ 400 last year. Surely you see how this would make you look like a shit talking schmuck right?

No. Even WHEN it goes to $0, he has no right to say anything. You can't cry wolf everyday for 4 years and then take credit the one time the wolf shows up. Now if he shows me a futures trade where he shorted and cleaned up, then he can open his mouth.

But you aren't considering this:

"The Market Can Remain Irrational Longer Than You Can Remain Solvent"

- John Maynard Keynes

[Forum Wars]

BofA,Citi,JPM and Lloyd's just announced that they would be bannung purchasing btc or any other crypto currency with credit cards. Any legit("legit"lol) brokerage will cut that option off, anyone who doesn't I'd get my coins off asap.

It's almost like with this, along with the introduction of futures recently, Big money is making a concerted effort to keep squeezing this down.

But I really think this "no more credit cards" is more in the interest of that they know they are not getting their money back on gamblers who bought on margin (credit cards) and wan't no more of that risk, and probably didn't even consider that they had that risk. Because you can still use debit cards at exchanges.

[GambleBotsChafedPenis]

when I first started out on a futures desk it was one thing that scared the absolute fuck outta me...i'd check what the hell I was gonna buy/sell multiple times before I placed an order because I didn't want to end up short 100K bushels of corn when I only wanted to end up 10K short...my ex-boss was the most volatile fuck ive ever had the misery to work for...it woulda been weeks of fucking punishment to fuck that up...

[GambleBotsChafedPenis]

BofA,Citi,JPM and Lloyd's just announced that they would be bannung purchasing btc or any other crypto currency with credit cards. Any legit("legit"lol) brokerage will cut that option off, anyone who doesn't I'd get my coins off asap.

It's almost like with this, along with the introduction of futures recently, Big money is making a concerted effort to keep squeezing this down.

But I really think this "no more credit cards" is more in the interest of that they know they are not getting their money back on gamblers who bought on margin (credit cards) and wan't no more of that risk, and probably didn't even consider that they had that risk. Because you can still use debit cards at exchanges.

my follow up is this: then why is everything else going down? I get the whole BTC getting squeezed and stuff...but there's no mechanism (that I know of) to screw with ETH, LTC, etc...I mean I get that the rest of the coins tend to follow BTC, but there should be some divergence at some point...

[sonatine]

It's almost like with this, along with the introduction of futures recently, Big money is making a concerted effort to keep squeezing this down.

But I really think this "no more credit cards" is more in the interest of that they know they are not getting their money back on gamblers who bought on margin (credit cards) and wan't no more of that risk, and probably didn't even consider that they had that risk. Because you can still use debit cards at exchanges.

my follow up is this: then why is everything else going down? I get the whole BTC getting squeezed and stuff...but there's no mechanism (that I know of) to screw with ETH, LTC, etc...I mean I get that the rest of the coins tend to follow BTC, but there should be some divergence at some point...

because the only reason they went up was because people had finally found a utility for them; moving their funds between btc exchanges. at this point, that utility phase is over.

[Forum Wars]

I'm about ready to put my money where my mouth is, and short bitcoin.

Who here has actually done this?

I see some suggested ways of shorting or pseudo-shorting here: https://www.investopedia.com/news/short-bitcoin/

Also willing to make bets with people here regarding the price of BTC on, say, June 1.

Etrade/TD/interactive brokers cleanest and purest way to do it via futures...

You can also do nadex with binary options but spreads tend to be fucking dogshit...haven't looked at them for BTC but am gonna guess they are LOLbad...

https://mobile.twitter.com/TDAmeritr...0831488/video/

Actual Tagline..."Bitcoin futures available. Fiesta forever."

If u do this Druff, use futures responsibly...they can go to zero easily.