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Sorry my question wasn't about the term... but the meaning behind the term. In finance land, this terminology usually implies you believe it will go up based on
by onethought 5y ago
Sorry my question wasn't about the term... but the meaning behind the term. In finance land, this terminology usually implies you believe it will go up based on ... factors.
I don't see any attached factors to bitcoin, i.e. it's purely speculative. So my question was more "Why are you long on bitcoin?" As - it seems quite random.
Apologises for not being clearer... The old "I knew what I meant" problem :\
- anm89 5y agoIt absolutely does not need to imply anything about the psychology behind the position. If I'm long BTC (or whatever) it simply means I'm holding a position that benefits from a positive price movement in that asset. The more pop culture meaning of 'long' meaning "i support" is post facto the other pre existing meaning. And it's not unreasonable to correlate them. If your money is where your mouth is, they are the same thing. It's totally possible though to be "long BTC" via a position while thinking bitcoin is a total scam, if let's say you believe you can exploit some short term irrationality.
- onethought 5y agoThank you for articulating an answer that makes sense to me. I see how my initial assertion was incorrect. You rock!