Bitcoin Thread

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People in some crypto communities that I'm involved with are very subtle on chanting HODL… There is a guy who claims to hold a large stake, he (maybe she) is under the impression that we may soon see $3000.
 
Looks like these dumps just after 6pm is becoming the norm. 3rd day in a row now. Although there was a massive dump early this morning too..

I won't be trading it however unless it totally crashes. Learnt from experience never to made big trades on a Friday evening. Luno is too dead then so you might sell but there's few others around to sell and push the price down. Easy to end up selling and the price doesn't move afterwards. Same for buying.
 
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Buy on a Friday night on Luno, sell on a Sunday morning....

You wont go wrong with that.
 
It depends on what price you started buying. If you started buying at like $10 for example, its been a great investment. If you bought a month ago, its been terrible. Short term its very volatile, long term its still looking like the trend is up
 
saor said:
Imagine this scenario:

Bitcoin costs $10 000 and is volatile and looking to head down.
I decide to reduce risk and hedge into USDT.
Bitcoin drops to $5000.
I buy back into bitcoin with USDT and increase my bitcoin holdings.

The point of hedging is to reduce losses / insure yourself against some (usually negative) market-related event. Why not try to come out in a better position? Or is there an issue with the use of the term 'hedging' here?
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How is that hedging? Hedging is taking out two positions so you don't win or lose much. Typically used to fix a currency at a specific rate.

BitcoinZAR said:
It depends on what price you started buying. If you started buying at like $10 for example, its been a great investment. If you bought a month ago, its been terrible. Short term its very volatile, long term its still looking like the trend is up
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That's luck. It's not an investment but can be used as a speculative opportunity.
 
I can see many traders getting wrecked this weekend. Most indicators were saying we're going down to $8k or below so many traders shorted it after it went below $9k. Few would have expected this sudden rally from $8.5k.
 
SaiyanZ said:
I can see many traders getting wrecked this weekend. Most indicators were saying we're going down to $8k or below so many traders shorted it after it went below $9k. Few would have expected this sudden rally from $8.5k.
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Exactly how does shorting work with BTC?
 
Slootvreter said:
Exactly how does shorting work with BTC?
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https://www.bitfinex.com/howitworks

Shorting is another type of financed transaction permitted on the Site’s platform. In a typical “long sale” of bitcoin, the seller enters into a regular spot trade of bitcoin and settles the transaction by delivering bitcoin that she owns outright. In a “short sale” of bitcoin, the seller also enters into a regular spot sale of bitcoin except that the transaction is settled by delivering bitcoin that she has borrowed.

Digital Tokens can be borrowed for purposes of short sales through the platform’s peer-to-peer financing functionality. The bitcoin borrower may seek offers or make a bid to borrow Digital Tokens on the Financing Order Book. Bitcoin borrowers are not permitted to borrow more than 70% of the bitcoins sold in a short sale. The fiat proceeds of any short sale serve as collateral for the borrowing of the bitcoins until those bitcoins are repaid.
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