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Bitcoin - Part 2

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psionl0 said:
So I'm guessing that until crypto currencies are traded on the "world's leading commodities market" we will need to invent a special category for them.
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"Securities" (of which currency notes are a subset) seems perfectly appropriate to me. They have their own dedicated trading exchanges as well.
 
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A security is a fungible, negotiable financial instrument that holds some type of monetary value. It represents an ownership position in a publicly-traded corporation (via stock), a creditor relationship with a governmental body or a corporation (represented by owning that entity's bond), or rights to ownership as represented by an option.
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https://www.investopedia.com/terms/s/security.asp

I always thought that a security was a debt instrument or a claim on an asset (but I thought I would post a more official definition). I would say that bitcoin is no more a security than gold is.

If words like "currency" or "commodity" are so horrifying then call bitcoin a "digital asset".
 
Mycroft said:
Where would one borrow bitcoins in order to short them?
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I think I have said this before but you don't need to actually have any bitcoins to do a naked short. You only need somebody who is willing to bet against you. I give you the price of how ever many bitcoins you want to short today and at the agreed on future date, you will give me the price at that time of the same number of bitcoins.

Come to think of it, seeing as I am a jinx, we could make a sportsman's bet.* Just tell me how many bitcoins you want to bet and when you want your short to end. If you win then you get bragging rights and the satisfaction that we conspired to crash the bitcoin price.

* We can't bet actual money. Without crypto-currencies, it would be too expensive to transfer money overseas.
 
trustbutverify said:
You gonna give us a reasonable stop-loss, or does this trade potentially last forever?
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I think he means sell 1 BTC now and wait for the price to drop to $622.

Or does he mean sell 2 BTC now and wait for the price to drop to $3122?

Or does he mean sell 3 BTC now and wait for the price to drop to $3955.33?

Or does he mean . . . . . .
 
Samson said:
To be honest the trade failed, just about the first on ISF, check the various threads.
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Excuse me, I must be misunderstanding. Obviously, you're not suggesting all your previous financial predictions have been accurate, right?
 
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