Bitcoin and Crypto Talk (Merged)(includes NFT) (3 Viewers)

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In the last two days investments giants Jamie Dimon and Mohamed El-Erian have said that bitcoin is overvalued by at least half. These kinds of statements often impact the asset's market.
 
There's a lot of chatter about the true value of bitcoin, and almost all of it is negative. So is that the legitimate financial community continuing to misunderstand (and undervalue) bitcoin, or is it entirely fair and likely accurate prognostication?

FWIW, here are four ways to short bitcoin. They're not that easily done, but they're out there:

1. Short Sell The Bitcoin Investment Trust

This option may seem like the easiest and most obvious choice for stock traders, but in reality, it’s more difficult than it seems. Since the Bitcoin Investment Trust
GBTC 0.53%
trades on the OTC Market rather than a major exchange, many major online brokerages don’t allow it to be sold short.

2. Cryptocurrency Margin Trading

Bitcoin exchanges such as BitMex, AVAtrade and Plus500 allow margin trading, which lets traders to sell bitcoin short on margin. Of course, margin fees and leverage could also play a major role in this approach as well.

3. Sell Futures Contracts

Traders looking to bet on a bitcoin sell-off can go to bitcoin futures markets such as OrderBook.net and sell bitcoin futures contracts. Of course, futures contract sellers must first own the bitcoin that they agree to sell and they're obligated to sell at the specified price no matter how profitable or unprofitable the contract ends up.

4. Bitcoin Predictions Market

Prediction markets are very thinly-veiled online gambling sites that allow users to create their own personal wagers. If another user comes along and accepts a wager that bitcoin prices will fall, users could potentially profit if they win the bet. Predictions market Predictious claims to be “the premier Bitcoin prediction market.”
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https://www.benzinga.com/general/education/17/09/10070341/want-to-short-bitcoin-here-are-a-few-ways
 
Alan said:
:scratch:



:ideamaybe:
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For the record, those two posts were about four months apart. I think that Asian demand was thought to be a key driver earlier this year. And China has very recently sought to shut down bitcoin access from the mainland altogether.

But who knows. It's extremely difficult to predict apart from the bird's eye chart that shows dramatic, exponential curvature upward.
 
Bitcoin, Litecoin, and Ethereum are all looking pretty swell right now.

Sent from my Pixel 2 using Tapatalk
 
I have Bitcoin, wish I could have put a 100k in it a year ago, like I tried to do, but I did get some and it's WAY UP
 
Galbreath34 said:
I'll trade you the ones and fives from a Monopoly set.
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That is what we use everyday.

the-fed-thinks-this-is-funny.jpg
 
I wonder what the worldwide market is for illegal activity(drugs, prostitution, etc.), which is probably the only real world use of bitcoin.
 
I don't think Bitcoin could be used as a widespread currency just yet, and may never be. One thing I would want out of currency is a relatively stable value. If the value of my currency can double in one month, I would be stupid to spend it on anything unless I had to or it was the only means (ergo, illegal activity as I mentioned above).

Because Bitcoins are always going to be scarce, that is an incentive people to hang on to them and not spend. Which is bad for an economy.
 
Looks like you can now dabble in bitcoin futures.

Saw a quick headline its been approved for CBOE

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