Bitcoin

Discussion in 'The Duck Hunters Forum' started by buck_master_2001, May 19, 2017.

  1. pointblind

    pointblind Elite Refuge Member

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    I think you mean "traders" rather than "investors". Its all paper profits or losses while still invested.
     
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  2. pintail2222

    pintail2222 Elite Refuge Member

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    LOL - good luck getting a market maker to sell you shares to short. Now if you sold some futures contracts maybe it’s a good time to buy them back?
     
  3. pintail2222

    pintail2222 Elite Refuge Member

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    That is a good point. Those exchanges are so crappy with spotty volatility that their stops may have been blown right thru with gap downs.

    Only time I have ever had serious issues w/ stops not being filled have been around earnings anouncements. Lesson learned - remove stops around earning anouncements.
     
  4. pointblind

    pointblind Elite Refuge Member

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    https://www.bitfinex.com/features
     
  5. pintail2222

    pintail2222 Elite Refuge Member

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    Exactly! Bitfinex has had volume of only 162,515 shares traded over the past 24 hours. Good luck finding shares to borrow in order to short them.

    It’s like that “Penny Stock Trading Guru” over in Miami - Tim Sykes - who will teach you how to short penny stocks on pump n dumps for one easy payment of $1,200.... problem is you have no relationship with market makers who will borrow you shares to short because the penny stock trades less than 1 million shares a day.
     
  6. pointblind

    pointblind Elite Refuge Member

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    Not sure what these "shares" you speak of are. When you buy Bitcoin you are buying Bitcoin. Not an equality in anything.

    Bitfinex has done almost 5 billion USD worth of volume over the last 24hrs according to their home page. There is currently almost 40,000 BTC and 640 Million USD in active margin funding according to this- https://www.bitfinex.com/stats .

    If one wants to short, it appears to me they could short but I'm not a trader and know very little on the subject.
     
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  7. pintail2222

    pintail2222 Elite Refuge Member

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    You are correct - I keep on forgetting Bitcoin is a currency - not a stock - not an equity. It traded on bitifinex as a currency pair. So you can not short it like you would a stock. You are looking at the currency pair traded.

    I’m not an fx trader - can you trade the inverse of the currency pair so that would be long the USD against Bitcoin? Or can you just sell the currency pair?

    You can short bitcoin futures on the CBOE and CME by selling futures contracts.
     
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  8. sluser

    sluser Elite Refuge Member

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  9. stevena198301

    stevena198301 Elite Refuge Member Supporting Member

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  10. pointblind

    pointblind Elite Refuge Member

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    I really don't know the answers to you questions. I always thought to short you borrow BTC, then sell to USD then are obligated to repay the BTC. If the price drops, you buy the amount of BTC you borrowed to pay back and keep the USD difference (minus obvious fees)? Again, not a trader.
     

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