4 ms·

So, how do you bet against them now?

by SV_BubbleTime 4y ago

latchkey 4y ago
Short BNB
- codetrotter 4y ago
  But there is no way to know the timeframe. That is one of the things I don’t understand about shorting.
  - jacquesm 4y ago
    Shorting is gambling if it isn't informed by knowledge that is legally obtained but not common. And even then: the kind of leverage that you are playing with has limited upside and unlimited downside so it isn't for everybody. Trading in stocks at least has a limit on the downside (but lacks the degree of leverage that you can get with shorting). The main risk that you've correctly identified is that even the best information will come with caveats around the timeframe, the next being that you can't assume you are dealing with rational actors. That's why you see parties that short based on relatively unknown information publish that information as loud as they can after they've made their trades so that they can control the timing to some extent.
    - kortilla 4y ago
      >Trading in stocks at least has a limit on the downside (but lacks the degree of leverage that you can get with shorting). Shorting downside can be capped and leverage gained by purchasing puts. Trading stocks long absolutely has leverage from margin and even much further leverage available through the purchase of calls.
    - latchkey 4y ago
      > That's why you see parties that short based on relatively unknown information publish that information as loud as they can after they've made their trades so that they can control the timing to some extent. Case in point... https://news.ycombinator.com/item?id=35278316 https://news.ycombinator.com/item?id=35278316
  - Gasp0de 4y ago
    You can just keep shorting it (depending on the timeframe). Just pay whoever gave you the shares a monthly "rent". You are just betting that you will be making a profit that is larger. So if it takes 3 months to go down, you need to be sure that the shares will drop more than the rent you pay in these 3 months.
    - latchkey 4y ago
      https://perp.planet.finance/en/futures/BNBUSDT https://perp.planet.finance/en/futures/BNBUSDT
bboygravity 4y ago
Buy BTC. My reasoning being: people will pull out the little money that's still left in the Binance ponzi and will (possibly) convert to or withraw in actual real BTC in their own wallets. It might cause a ripple effect where other people do the same in other exchanges out of fear. One day people on the "normal" stock market will also wake up to similar things happening there and will start moving shares from ponzi brokers to the direct registration system.
- pharmakom 4y ago
  I think BTC comes out better than the other coins buts it's way down too.
  - bboygravity 4y ago
    Check the chart again since I wrote that comment ;)
- jjeaff 4y ago
  No, get out of crypto. Another big player going down is just yet another bullet hole in crypto's reputation.
  - bboygravity 4y ago
    Binance is not a crypto player. It's a ponzi player. Not the same thing. If Binance wasn't "fractional reserve crypto broker" (aka: ponzi) we wouldn't be having this discussion.
    - NotYourLawyer 4y ago
      It’s literally exactly the same thing.
      - bboygravity 4y ago
        No it's not. In one case you buy a Bitcoin and you get to own a Bitcoin. In the other case (Binance) you buy a Bitcoin and don't get to own a Bitcoin (or in the very best case: you might or might not get to own that Bitcoin you bought). Not the same.

So, how do you bet against them now?

latchkey 4y ago

Short BNB

codetrotter 4y ago
But there is no way to know the timeframe. That is one of the things I don’t understand about shorting.
- jacquesm 4y ago
  Shorting is gambling if it isn't informed by knowledge that is legally obtained but not common. And even then: the kind of leverage that you are playing with has limited upside and unlimited downside so it isn't for everybody. Trading in stocks at least has a limit on the downside (but lacks the degree of leverage that you can get with shorting). The main risk that you've correctly identified is that even the best information will come with caveats around the timeframe, the next being that you can't assume you are dealing with rational actors. That's why you see parties that short based on relatively unknown information publish that information as loud as they can after they've made their trades so that they can control the timing to some extent.
  - kortilla 4y ago
    >Trading in stocks at least has a limit on the downside (but lacks the degree of leverage that you can get with shorting). Shorting downside can be capped and leverage gained by purchasing puts. Trading stocks long absolutely has leverage from margin and even much further leverage available through the purchase of calls.
  - latchkey 4y ago
    > That's why you see parties that short based on relatively unknown information publish that information as loud as they can after they've made their trades so that they can control the timing to some extent. Case in point... https://news.ycombinator.com/item?id=35278316 https://news.ycombinator.com/item?id=35278316
- Gasp0de 4y ago
  You can just keep shorting it (depending on the timeframe). Just pay whoever gave you the shares a monthly "rent". You are just betting that you will be making a profit that is larger. So if it takes 3 months to go down, you need to be sure that the shares will drop more than the rent you pay in these 3 months.
  - latchkey 4y ago
    https://perp.planet.finance/en/futures/BNBUSDT https://perp.planet.finance/en/futures/BNBUSDT

bboygravity 4y ago

Buy BTC. My reasoning being: people will pull out the little money that's still left in the Binance ponzi and will (possibly) convert to or withraw in actual real BTC in their own wallets. It might cause a ripple effect where other people do the same in other exchanges out of fear. One day people on the "normal" stock market will also wake up to similar things happening there and will start moving shares from ponzi brokers to the direct registration system.

pharmakom 4y ago
I think BTC comes out better than the other coins buts it's way down too.
- bboygravity 4y ago
  Check the chart again since I wrote that comment ;)
jjeaff 4y ago
No, get out of crypto. Another big player going down is just yet another bullet hole in crypto's reputation.
- bboygravity 4y ago
  Binance is not a crypto player. It's a ponzi player. Not the same thing. If Binance wasn't "fractional reserve crypto broker" (aka: ponzi) we wouldn't be having this discussion.
  - NotYourLawyer 4y ago
    It’s literally exactly the same thing.
    - bboygravity 4y ago
      No it's not. In one case you buy a Bitcoin and you get to own a Bitcoin. In the other case (Binance) you buy a Bitcoin and don't get to own a Bitcoin (or in the very best case: you might or might not get to own that Bitcoin you bought). Not the same.