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You sound very confident. Why don't you short the cryptocurrencies you are sure are going to "come crashing down" to make a lot of money?
by nukeop 9y ago
You sound very confident. Why don't you short the cryptocurrencies you are sure are going to "come crashing down" to make a lot of money?
- ghaff 9y agoSee The Big Short. Markets can stay irrational longer than you can stay solvent. I'm also not aware of reliable mechanisms to short cryptocurrencies broadly.
- currymj 9y agoI would like to do this but I don't have several million dollars lying around to get in on the futures market. And I'm sure as hell not going to keep a margin account at any cryptocurrency exchange.
- nukeop 9y agoYeah, somehow all the crypto naysayers always refuse to put their money where their mouths are. I wonder why.
- currymj 9y agoin 2015 i thought cryptocurrencies would probably appreciate so i bought a reasonable amount that was within my ordinary-consumer budget and my appetite for risk. i did okay. if i wanted to do the same thing now but short, i probably could, but wild swings in price would probably result in my being wiped out after a margin call, on top of which ordinary people have no access to any kind of collar. if an asset is difficult to short, you are more likely to end up with a bubble. so, if i'm going to reciprocally assume bad faith, bitcoin bulls have a reason to make short-selling systemically impractical.