Is this another pic from Mars
Can you please explain how you shorting it, I did not know it was possible apart from CME futures of course.
Bitcoin Price Thread
- Thread starter Magna
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Is this another pic from Mars
Can you please explain how you shorting it, I did not know it was possible apart from CME futures of course.Is this another pic from Mars
The chart is Bookmap's heatmap with their new Consolidated Order Book addon. I have 5 order books of the biggest exchanges combined into one to look for areas of supply and demand imbalances, but I'm actually shorting it on Deribit with their perpetual futures contract.
Seems to be going well so far, prices trading down at $50,300 right now.
What is the margin there? CME has insane margin.
it will not go anywhere. 0 interest in touching this product. I was just curious about shorting mechanism for cryptos.
I am fully automated algo trader, all my trading is based on statistical models.
as you can imagine BTC can not be modelled.
Why's that?
The price is fake and that is why. Any commodity on the face of our planet ,apart from cryptos, is only traded in real money. Its rise and fall has real bottom line consequences for every participant.
You and I need to deposit our hard earned money to buy BTC, where BitFinex just prints tethers out on thin air to do the same. 80% of BTC trading taking place in tethers. You can not build statistically significant model, with positive expectancy, when an asset is traded in fake money.
I don't get it from you people talking about Tethers and it's relationship with Bitcoin. What's the difference between minting Tethers and printing USD? Both are fake money created out of nothing and both are used to buy different asset types. Both Tether and the USD are currencies based on the faith of people in them & the consensus that they represent a medium of exchange.
Yes Yes, I know, one of them is backed by the US government and the other is not, one of them is globally accepted, acting as the world reserve currency, most commodities trade against it, a big chunk of world trade is done using it & majority of the world debt is denominated in it, but still all that doesn't really change the facts, that it's a faith based currency totally backed by nothing and that it's strength is coming from the "Network effect", just like how Tether is getting it's strength & acceptance from the "Network effect".
Yes Yes, I know, one of them is backed by the US government and the other is not, one of them is globally accepted, acting as the world reserve currency, most commodities trade against it, a big chunk of world trade is done using it & majority of the world debt is denominated in it, but still all that doesn't really change the facts, that it's a faith based currency totally backed by nothing and that it's strength is coming from the "Network effect", just like how Tether is getting it's strength & acceptance from the "Network effect".
Oh it changes it a great deal. If you put the full might of US and few geeks with keyboards on the same footing, I suggest you need to think and analyze situation a bit more.