Bitcoin Price Thread

Pekelo said:
So ethical manipulation is unreal? You wanted a free market, you got free manipulation. By the way selling is not manipulation.
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How corrupt are you, you were lost to the dark-side a long time ago.
 
Pekelo said:
Without those idiots price would have never gone up to 20 K, so thank them.
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Why should I thank them? I am and was never interested in crypto's.
I trade the ES so I would have preferred that they had thrown away their money there.
 
neke said:
View attachment 180619
There is really no good shorting trade on these stuff. Even if you believe perfectly in its eventual demise. It might run to 50,000 first. Suppose you shorted at 10,000, with $10K, meaning one bitcoin. When it goes to 50,000, you have to put up 40,000 to meet the margin requirement, so if it eventually goes to 0, all you make is 10K on a 50K outlay - or 20%. If that takes 5 years, that comes to just 4% annually. For a high-risk trader, that is nothing - useless tying up of capital.

And if you think options is the way, again it is too lop-sided. On Dec 20, I took a screen shot of the option pricing for RIOT, March 2018 expiration (attached). Stock was trading at $35. The Mar 2018 35 PUT was trading for $18 (while the CALL was $4.00). Such disparity that shows every intelligent being knew it was going down big time. Unfortunately, if you bought the put, and this goes to $10 by then, all you would make would be 50% on the option. Too small for such a trade for me.
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One day to expiration. Stock now < 8$. so the put should be a gain of 50% as indicated then. Still too small for the time. Obviously with benefit of hindsight, selling deep itm calls would have been better - although money still tied down.
 
From the personal stories department:

"I like the guy on /r/personalfinance that sold in December last year to net himself over $120,000, never paid short term capital gains taxes, then poured all of it into nonsense altcoins which this year crashed his holdings to $30,000. Now he's bewildered the IRS tells him he owes $50,000 on that $120000 gain he thought they just wouldn't notice.

In other words he took his life savings and in about a year turned it into -$20,000"
 
Pekelo said:
In other words he took his life savings and in about a year turned it into -$20,000"
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You never hear about these type of guys...you just hear about the Outlier Success Stories...who make this world seem and feel like Disneyland Marshmallow land where every trader can become a Millionaire :wtf:, :confused:

Moral of the story...be a Master of One, not a jack of all trades.
Instead of shifting things and money around...trade One thing, and Master it very well.
Be a philosophical surgeon with that one instrument trading class. -- And you will generally do well and prosper in the market,
 
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Pekelo said:
From the personal stories department:

"I like the guy on /r/personalfinance that sold in December last year to net himself over $120,000, never paid short term capital gains taxes, then poured all of it into nonsense altcoins which this year crashed his holdings to $30,000. Now he's bewildered the IRS tells him he owes $50,000 on that $120000 gain he thought they just wouldn't notice.

In other words he took his life savings and in about a year turned it into -$20,000"
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Bet there's plenty of morons did that, Any idiot can ride a scam higher. Selling is the skill, and many don't / never will/ have it
 
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