Cryptocurrency

[milanbenes]

How do you go short on property? Wouldn't you have to borrow a property and sell it to go short?

in Scooters view on the world, selling something is "going short"

I know, don't ask

Milan.

[northernladuk]

I guess you didn't scroll down the page.

The "treat" I was referring to was John McAfee committing to eat his dick on national television if BTC doesn't reach $1M by the end of 2020.

Personally, I can't see any harm in putting a couple of grand in it. Worse case scenario you lose a couple of grand. Best case scenario, who knows. I don't regard it as investing though, it's gambling.

Ah.. right got you. Yes I see now sorry.

With gambling there has to be a chance of winning with returns that match the risk. Even that doesn't exist around BTC at the moment.

[scooterscot]

Wouldnt have stuck my entire pension in.

That I understand, but we had more liquidity in cash than was stuck in the pension.

[scooterscot]

How do you go short on property? Wouldn't you have to borrow a property and sell it to go short?

No. A short, or short position, is selling first and then buying later. I don't intend to stay out of the market.

[Jog On]

Ah.. right got you. Yes I see now sorry.

With gambling there has to be a chance of winning with returns that match the risk. Even that doesn't exist around BTC at the moment.

That's an important distinction. I really think it extremely unlikely it's going to 0. What's happening now is bad for the short termers and over leveraged.

[milanbenes]

No. A short, or short position, is selling first and then buying later. I don't intend to stay out of the market.

no Scoots,

that's not quite right

a short position, is selling something first which you do not already own, and then buying later to fulfill the commitment of the transaction

but never mind it doesn't really matter it's only details

what about my question about the 250k btc can you reply to that one

ta
Milan.

[scooterscot]

can you explain how you derive the 250kU$D valuation of BTC, and does it involve BTC raising in value or U$D lowering in value ?

if the U$D becomes the Zimbabwe Dollar then of course 250kU$D BTC is possible

but if the U$D holds its value against other currencies, let's say the SDR basket, then how do you explain BTC getting to 250kU$D ?


Milan.

1) Mostly adoption. No one is paying attention to the rate of adoption. 1ML - Lightning Network Search and Analysis Engine - mainnet That address will take you to the lightening network stats page. Look how quickly adoption is occurring in the past few weeks. More and more nodes are coming online. Bitcoin only had a maximum seven transactions per second prior to the lightening network. Systems like VISA are able to process up to 45,000 transactions per second ("tps"). Lightning Network enables millions of transactions per second. Holders of XRP will have a 'oh no' moment in the future, mark my words.

2) Network effects. Again, no one is paying attention to network effects. Bitcoin is the king of all blockchains because it was the first and as such the most recognised. That's not going to change. The state of Ohio has just allowed it citizens to pay taxes in Bitcoin.

3) USD collapse, it's in the post.

4) There's only about 15 million tokens in circulation. It should be 21, however a number have already been lost and a number of people will just remain holders. The volume available for moving around is about 15 million once the remainder is minded. Actual circulation is around 11million

5) Given (4), no one is paying attention to central banks printing like there's no tomorrow. Like gold, no one is printing Bitcoin. Given the market capital of gold.... well look it up before gold ETFs were traded and its price today, that alone will take Bitcoin beyond $100k

[doconline]

No. A short, or short position, is selling first and then buying later. I don't intend to stay out of the market.

Yes, exactly. You are selling first before you own it. Therefore you have to borrow it from somewhere to sell. With the idea that you buy it back at later date at a lower price to return to the owner. With you keeping the profit made between your sell and buy prices.

If you already own it, you aren't shorting it, you are just selling it.

[scooterscot]

a short position, is selling something first which you do not already own, and then buying later to fulfill the commitment of the transaction

but never mind it doesn't really matter it's only details

Well it's the same thing. I'm borrowing pounds to short the house as the pounds say on them they'll promise to pay me a certain value on their exchange with some 'real' currency.

[scooterscot]

If you already own it, you aren't shorting it, you are just selling it.

Only the UK could we believe we own the house whilst over £2 trillion in debt.