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Crescent Connection
New Orleans Saints Fan
Lafayette/Nola
Member since Jun 2008
1366 posts

Shorting bitcoin
How does one go about shorting bitcoin? Watching the Big Short now...I think I’m on to something.


Captain Crackysack
Member since Oct 2017
731 posts

re: Shorting bitcoin
You can use the futures contracts once they become available as one potential avenue to short them. But if you have to ask it's probably best you stay away from any type of short position


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210
LSURep864
LSU Fan
Spartanburg,SC
Member since Nov 2007
6665 posts

re: Shorting bitcoin
I'll leave this here

Btc market cap is a fraction of a fraction of a fraction of the housing bubble.


rocket31
Toledo Fan
Member since Jan 2008
33478 posts

re: Shorting bitcoin
quote:

I think I’m on to something.


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92
jmcwhrter
Member since Nov 2012
849 posts
 Online 

re: Shorting bitcoin
you're about to get wrecked, friend


TigerTatorTots
New Orleans Pelicans Fan
The Safeshore
Member since Jul 2009
74536 posts

re: Shorting bitcoin
Best of luck. Please confirm if/when exactly you short it so we can keep track


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71
BruceJender
LSU Fan
Houston
Member since Dec 2016
275 posts
 Online 

re: Shorting bitcoin
This might be the dumbest thing you could do. There’s *literally* no limit to the amount of money you could lose. And that may be close to a reality based on recent price movement.


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61
Lou Pai
Houston Astros Fan
Member since Dec 2014
16612 posts
 Online 

re: Shorting bitcoin
quote:

Btc market cap is a fraction of a fraction of a fraction of the housing bubble.




foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
39487 posts

re: Shorting bitcoin
Don't know if it is even possible, but I will note that shorting a volatile asset is hardly ever a good idea.

The heroes of the Big Short were really lucky in their timing, they nearly lost their shirts. If the housing market had kept it up for just a few more months they probably would have lost everything.


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61
ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
12586 posts

re: Shorting bitcoin
CME & CBOE have btc shorting options starting next week. I believe you are absolutely right and you should go for it. Short it down to zero and laugh all the way to the bank.

Disclaimer: I have large positions in CME, CMOE, GBTC, & BTC.
This post was edited on 12/6 at 6:14 am


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31
Shepherd88
Member since Dec 2013
2244 posts

re: Shorting bitcoin
Seems like the safer option would be to buy puts but I’m not an option expert. If you lose on that you’ll only lose your premium.


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70
tokenBoiler
Purdue Fan
Lafayette, Indiana
Member since Aug 2012
2023 posts

re: Shorting bitcoin
"The market can stay irrational longer than you can stay solvent."

Good luck.


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170
LSURep864
LSU Fan
Spartanburg,SC
Member since Nov 2007
6665 posts

re: Shorting bitcoin
No idea why you're laughing. The housing market was worth 24 trillion in 06. Bitcoin is worth around 200 billion.


barry
Cincinnati Fan
Location, Location, Location
Member since Aug 2006
46533 posts

re: Shorting bitcoin
quote:

No idea why you're laughing. The housing market was worth 24 trillion in 06. Bitcoin is worth around 200 billion.



Those were assets with, while highly inflated, pretty solid value behind them.

BTC is a different animal, pretty much 95% of the ownership is people using it purely as a speculative financial instrument.

ETA: I would also not recommend shorting anything unless you have some chops. Being too early on something this volatile could bankrupt you.
This post was edited on 12/6 at 10:04 am


raw dog
LSU Fan
Baton Rouge
Member since Nov 2011
446 posts

re: Shorting bitcoin
CME futures start trading next Monday.


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20
CheesyF
Member since May 2017
95 posts

re: Shorting bitcoin
quote:

you're about to get rekt, friend


FIFY.


You can short on Bitmex. Keep us updated


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60
TheIndulger
LSU Fan
Member since Sep 2011
17920 posts

re: Shorting bitcoin
It humors me when people watch the Big Short and then think they magically become experts at short selling


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191
Lou Pai
Houston Astros Fan
Member since Dec 2014
16612 posts
 Online 

re: Shorting bitcoin
Bubbles come in all shapes and sizes, so it's pretty irrelevant. If I were to argue that there is a bubble in nickel prices (which I'm not), I wouldn't look at the housing market as some kind of point of reference in terms of size.

That, and there's a real floor that is assigned to housing prices in that it's got a tangible economic value. If one were to try to make the argument that bitcoin has a legitimate economic value in its blockchain technology, fine, but that is incredibly abstract and arguably very questionable (e.g., bitcoin doesn't possess a monopoly on blockchain technology).


LSURep864
LSU Fan
Spartanburg,SC
Member since Nov 2007
6665 posts

re: Shorting bitcoin
You have a fine argument. I won't argue also Bitcoin isn't overbought a bit. It needs a correction. A sustained one for price discovery.

I was more less stating to the op that his comparison was terrible.

I'll keep holding my Bitcoin though. I got in low enough to not care if it corrects bigly.
This post was edited on 12/6 at 2:33 pm


Jones
New Orleans Saints Fan
Member since Oct 2005
74451 posts

re: Shorting bitcoin
The daily rsi is at 90. Insane


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