OT: shorting bitcoin

[Apoplectic_Objurgator]

Anyone know if there is a ticker/etf for shorting bitcoin? What's your price or date to buy the next big short?

 

[MSUDAWGFAN]

Personally, I'm not touching bitcoin either way. Could go to 0 or go to 1,000,000. Its not like any other type of investment.

 

[WhiteShepherd07]

Safer route would be buying puts.

 

[rebsgoingdown]

Personally, I'm not touching bitcoin either way. Could go to 0 or go to 1,000,000. Its not like any other type of investment.

You are correct. Make sure it is money you could afford to lose.

 

[Wizard of bulldogery]

bitcoin trades on a digitial currency exchange. it would be the equivalent of shorting the british pound. There is GBTC which is an investment trust setup to invest in bitcoin but there aren't options currently traded on it. It's price is also gonna fluctuate based on supply and demand by the idiots that actually think GBTC is bitcoin or makes it or some other dumb **** like that. It is going up faster than the price of BTC for this reason. i wouldn't short it just yet though... I'm buying ether instead of bitcoin. It has more upside IMO. Also be wary of any new ETFs that invest in Bitcoin futures. Usually these funds are highly leveraged and daytrade futures... they usually drop in price due to time decay and get forced into a reverse split to keep their price above 5 dollars so they can still trade on an exchange.

 

[Bulldog from Birth]

No way in heaven would I short that thing. There is literally no limit to what you could lose shorting if.

 

[karlchilders.sixpack]

Hide and watch

...

 

[Bulldogg31]

One thing I like about Bitcoin is all I can lose is 100% of my investment. But the upside is completely uncapped!

 

[AssEndDawg]

Anyone know if there is a ticker/etf for shorting bitcoin? What's your price or date to buy the next big short?

Here is why shorting it is a bad idea, this is not like any other item on an exchange. The reason Bitcoin, and other crypto currencies are rising is because it is a place for people in China and Russia to store money (in addition to multinational countries using it to ease the impact of moves through multiple countries). China has tremendous controls over monetary usage but it is difficult for them to control Bitcoin and people in China have VERY limited options of what to do with money. Russians are just corrupt as **** and need a place to stash cash and Bitcoin gives them that place.

This technology is still not widely spread in either country so there is a very good chance it will continue to rise. There will be instability in short terms but overall I wouldn't bet against it.