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Anyone that claims something will crash should put their money where their mouth is and short it. If someone comes out telling me something will crash but they
by CKMo 9y ago
Anyone that claims something will crash should put their money where their mouth is and short it.
If someone comes out telling me something will crash but they don't show me they're shorting it, that makes it suspect. My next immediate question is: what's your gain in convincing people that something will crash?
See: Jamie Dimon talking smack while JP Morgan invests in crypto.
- riku_iki 9y agoHow to short bitcoin reliably?
- odonnellryan 9y agoJust keep cash on an exchange until it crashes.
- riku_iki 9y agoIt is not "shorting"..
- odonnellryan 9y agoIt is going short on the asset.
- riku_iki 9y agoShorting bitcoin would be borrowing them say at $5000 price, selling on the market on $5000 immediately, and then when it fall to say $2000, you buy it again, return to owner, and have extra $3000 in your pocket, so you got $3000 from your trade. Just selling bitcoins now and sitting on the cash will not produce any income.
- odonnellryan 9y agoNo, but you can make the same bet that BTC will go down: but you don't get the money for it going down. You can still go short on BTC: just sell now and buy when it goes down, if you're sure it will. I understand it is a different mechanic. In your example, if BTC went to 10k you'd still have to return that 1 BTC to the person you borrowed it from.