lol that didn't take long

Are you short BTC?

What investments do you have in these other tech projects that all the smartest people are working on?

You must be getting very rich with so much inside knowledge about the tech industry, congrats!

None of these words is an actual argument against Bitcoin. It's just your (highly likely) unsubstantiated opinion.

I suspect you don't even know what a blockchain is. You probably have no understanding of the purpose of Bitcoin. I'd be really surprise if you understand the purpose and would still make bold claims like this. Sure, you might think it will fail but calling it completely useless shows ignorance.

Not to go down the "Is BTC nonsense" path, but if you believe BTC is a "long term zero" there is no current method I'm aware of to short it.

If you believe that BTC is essentially a fraudulent market (or rather, that the exchanges are fraudulent) then shorting on those is just asking to get liquidated.

https://www.nasdaq.com/article/5-way...tcoin-cm932830

I admit it's not simple to short BTC directly against the US dollar right now but 1, 3 & 4 seem like decent options?

Go on, get some skin in the game, set up some accounts and let us know your position.

1 requires a lot of capital (relative to some) and 3 isn't available to US investors per your link.

4 may be workable, but I'd not heard of that.

Only ~$15k which isn't much capital when you have so much conviction in your thesis. Go for it!

First, this isn't about "my thesis". I was only talking about why "just short it" is a bad argument for anyone that's bearish on BTC. Both because it's hard to do, and because if you're bearish on BTC it may be because you don't believe it's a "fair" market.

If I'm in the market to short something, why would I take a chance on BTC when I could just buy $SNAP or $GME puts? At least when those fail, I know I'm getting paid, since Gamestop doesn't have anything like Tether to keep it propped up (allegedly).

A 'long-term zero' is a 'long-term zero' no matter what is allegedly propping up.

What's the saying about the market staying irrational longer than you can stay solvent?

Dunno, sounds cowardly though.

Hey **** you buddy! That's it, I'm gonna show you. I'm gonna load up my TDA acct. and...wait a sec. Dammit! You almost got me.

Shower thought: once bitcoin becomes easy to short, it's price will be much higher than it currently is. Reason: because it will be in etf form, and institutional money will flow to it.

Why do people automatically assume that the $ will flow as soon as there is an etf?

I think it will help, at least marginally. An ETF is a financial product that the brokerages are selling so your salespeople will try to get your clients to purchase some.

Someone clarify for me please. An opinion without "skin in the game" is not a valid opinion?

Seems fishy to me.

Unlike many other areas of life, in the markets if you have a strong opinion one way or another you have the opportunity to make lots of money if you are proven correct.

If you go around confidently predicting something and acting like you know more than anyone else but decline to take advantage of the opportunity to make money from your prediction you are either a coward or a blowhard.

Cool. Carry on then.

Dirty Harry " A man's got to know his limitations."

I'm not shorting because I don't have a good way to short it and prefer to stick with my other investments. Also, long-term zero could still be decades from now, I don't know if it is go to be higher or lower tomorrow or even next year.

1. If you're not a poor and have $15k you can short it easily.

2. Everything will go to zero eventually. Saying you think something will perform poorly but not for decades is just ridiculous, may as well keep your mouth shut.

https://medium.com/@joshromportl/why...e-4f95980bb774

There is no way for someone to short it long-term (3+ years) with limited downside risk is there? So if I thought bitcoin was going to go to $50k on its way to $1k in 4 years I can’t bet BTC will be less than $1.1k in 3+ years can I?

AFAIK there's no option to short ANY asset with a 4 year time horizon, that much expected volatility and limited downside risk.

I believe LEAPs only go out 36 months, could be mistaken.

It's funny that you think it might go to $50k before $1k and still lean bearish though

No, and worse, being bearish in general is riskier than being bullish, all else equal.

Even if BTC were traded like any other security, if you wanted to bet on it going up, just buy a share/coin and sit on it for a while. If you're wrong in the short term, oh well, you might win in the long run and then not only do you get the satisfaction of being right, you get the money.

In order to short, you need to either pay interest on the short, or buy puts, which are going to expire. There are a few exceptions with things like inverse ETFs and the like, but we're a couple steps away from a BTC option like that yet. As it stands, even if you go for one of the "legit" options presented above and don't mind the risks, you still have to time it right or you run the risk of being right on the principle but off by 6 months and ending up broke.

Bitcoin is so boring now. That Tether run was the first exciting thing to happen all year.