Recent read a story about some fund that bought BTC @ $40,000... Whoa!

Scataphagos

Scataphagos

Bummer.

With BTC topping near $20,000 in December, 2017... virtually all who bought in the last year are LOSING THEIR COLLECTIVE ASSES*! And sure, lots of people who bough BTC for "pennies" or a "buck" are still way ahead. Unfortunately, the majority of players (and the money committed to the BTC marketplace) are "chasers"... who paid up WAAAY LATE AND DEARLY... with sugar-plumb dreams of getting rich.... but are now "sucking the sour lemon of disappointment and despair".

Some fund paid nearly 100% premium @ $40,000/coin... believing BTC was "headed towards the moon".

Everybody still a believer??

Speaking of "stupidly paying-up waaayyy too high of a price"...

See those commercials selling "gold and silver coin"?

Yeah, they look like "official coins" but are thinly clad with gold/silver. So much that a silver-clad selling for "$9.95 + $5 s/h", has only a miniscule amount of actual silver in the "coating". To advertise the sale of such coins on TV, they apparently are reqired to disclose the amount of "actual silver"... and its value is TINY compared to the price paid. When you look online, it's uncommon for the actual amount of silver to be disclosed.

I have a friend who confessed to me that he is "loaded up" on these things, not realizing their actual value. Bummer.

*I asked my rich friend in Chicago (I'm "sort-of rich"... he's really rich) if he was doing anything with BTC.. he said, "HELL NO"... he knew of several friends who's lost a bundle on them... not for him
 
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Specterx said:
BTC might have been the most obvious bubble of modern times. I sort of regret not playing it to the short side, but CME futs margins were way too high and there's no way in hell I was going to deposit real money with some fly-by-night crypto exchange.
More...

Gotcha! Difficult to find a comfortable way to risk $$$ in a stupid-ass marketplace backed by "some ethereal hope thingy" with zero intrinsic value.
 
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https://www.bloomberg.com/news/arti...g-vix-alarm-says-tether-used-to-boost-bitcoin

This topic is older but a similar article popped up on a newsfeed for myself the other idea. Never followed Bitcoin hype myself or really dug in to what it actually was.

If the above article is true, it’s a hell of a scam that happened to folks. Beats the hell out of front running, insider information or spoofing.

Not even sure of how they’d figure out if tether actually had any dollars backing it.
 
Specterx said:
BTC might have been the most obvious bubble of modern times. I sort of regret not playing it to the short side, but CME futs margins were way too high and there's no way in hell I was going to deposit real money with some fly-by-night crypto exchange.
More...

It should be safe to short bitcoin through CME futures. Futures are well regulated and CME is reputable futures exchange with a track record to protect.
 
helpme_please said:
It should be safe to short bitcoin through CME futures. Futures are well regulated and CME is reputable futures exchange with a track record to protect.
More...

It is totally safe to work with BTC futures at the CME. What Specter was trying to say is that he had two choices...Play the BTC on the future exchange which is safe but has crazy margin reqs, or try to short on the actual BTC network, which can be fly-by-night, lose all his shit. Etc.
 
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