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[AtW]

IMHO all shorters deserve to go bankrupt, zero sympathy.

It should be classed as an illegal activity

[Old Greg]

IMHO all shorters deserve to go bankrupt, zero sympathy

Bloody liberal. What's wrong with Debtors' Gaol? They can drop the soap for the dodgy loan bent contractors to pick up.

[DimPrawn]

IMHO all shorters deserve to go bankrupt, zero sympathy.

It should be classed as an illegal activity

I don't know why this bothers you so much, what's the big deal about a short position ffs.

[DimPrawn]

Yes, just realised I was looking at price in £ not $. It doesn't make much difference though because it's still up about 6%, against $, from scoot's entry price. Which means the 3x short is down nearly 20%.

Anyone else willing the price to go to $1000 a piece.

[AtW]

I don't know why this bothers you so much, what's the big deal about a short position ffs.

Big deal - it’s blatant market manipulation, especially with leverages which should be banned - people who don’t have money to buy outright should stay out

[AtW]

Anyone else willing the price to go to $1000 a piece

GPU demand from tulipminers is reportedly up again, which might be a hint that price will go up...

[BR14]

YouTube

[AtW]

It’s all clever bit of reverse psychology by Scoots - suddenly getting lots of people rooting for tulipcoins to go up, checking prices all the time and thus inflating analytics for others suggesting tulipcoins are in demand, Scoots is probably laughing his way to an offshore TulipBank

[DealorNoDeal]

How this short even works?

Normal short selling works like this

1) AMD is $100
2) you borrow some shares of AMD (eg. from a broker)
3) you then sell them in the open market (for $100/share)
4) the price of AMD drops to $80
5) you buy back the shares in the market for $80
6) you return the shares to the broker
7) you make $20/share ($100-$80)

However, the thing scoots has bought is a derivative. It may be using put options on Ethereum to produce the triple inverse.

[DimPrawn]

Normal short selling works like this

1) AMD is $100
2) you borrow some shares of AMD (eg. from a broker)
3) you then sell them in the open market (for $100/share)
4) the price of AMD drops to $80
5) you buy back the shares in the market for $80
6) you return the shares to the broker
7) you make $20/share ($100-$80)

However, the thing scoots has bought is a derivative. It may be using put options on Ethereum to produce the triple inverse.

And he's bought it on some unregulated exchange. Even if he makes money they will likely refuse to pay out and vanish with the money.