Tech General

[TheReal_ND]

I feel that way too. Amazon probably needs to be hit with antitrust laws but their prices and service are so much better than all competition.

It's a good service but I'm boycotting Bezos on principle.

[SuburbanFarmer]

Whoever invents and sells a way to short Bitcoin will be the next Bill Gates...

[TheReal_ND]

*Whom'stever

https://www.cryptocoinsnews.com/bitcoin-whale/

They've been manipulating the market for a while. I don't really look at it as an investment I just want an alternative. There are lots of people that think like that I imagine. I'll use some, it fills a niche. I think it will be around for a while.

[Speaker to Animals]

Whoever invents and sells a way to short Bitcoin will be the next Bill Gates...

It's not really feasible unless you abstracted out the holding of bitcoins sort of like how a broker does it with stocks.


Although.. upon reflection.. it's not a terrible idea either. Imagine being able to buy and sell bitcoins and do some spreads with other speculative instruments. The spread between bitcoins and the USD might be interesting.

[Dand]

Whoever invents and sells a way to short Bitcoin will be the next Bill Gates...

People have been saying that for years while it just quadruples every year. Maybe it will crash eventually but it's been rising.

The time and percentages lost by transfering real money and bitcoin are terrible and I have no belief it will replace the dollar but it has done its job for years.

[Speaker to Animals]

Whoever invents and sells a way to short Bitcoin will be the next Bill Gates...

People have been saying that for years while it just quadruples every year. Maybe it will crash eventually but it's been rising.

That's sort of the problem. You don't have any mechanisms in place to prevent a huge bubble and collapse. The ability to short the thing would lend at least a little stability to the thing.

[TheReal_ND]

I mean I wouldn't drop a huge chunk of money in it right now. Or ever really. But I want to use some for transactions that aren't possible other wise. For instance, if I want to buy a certain kind of socks I can only use BTC because they got shoahd from Paypall and google wallet etc for their political views. I don't need socks rn, but I'd like the option of avoiding SJW platforms whenever possible.

[Dand]

Whoever invents and sells a way to short Bitcoin will be the next Bill Gates...

People have been saying that for years while it just quadruples every year. Maybe it will crash eventually but it's been rising.

That's sort of the problem. You don't have any mechanisms in place to prevent a huge bubble and collapse. The ability to short the thing would lend at least a little stability to the thing.

That makes sense but the unaccountability of bitcoin is part of what makes it unique. How can you short it? Is it as simple as a contract signed when you buy coins from someone and a promise to return that amount of coins in a set amount of time?

[SuburbanFarmer]

Whoever invents and sells a way to short Bitcoin will be the next Bill Gates...

It's not really feasible unless you abstracted out the holding of bitcoins sort of like how a broker does it with stocks.


Although.. upon reflection.. it's not a terrible idea either. Imagine being able to buy and sell bitcoins and do some spreads with other speculative instruments. The spread between bitcoins and the USD might be interesting.

i stand corrected... somebody already did.

https://themerkle.com/top-7-ways-to-short-bitcoin/

[Speaker to Animals]

People have been saying that for years while it just quadruples every year. Maybe it will crash eventually but it's been rising.

That's sort of the problem. You don't have any mechanisms in place to prevent a huge bubble and collapse. The ability to short the thing would lend at least a little stability to the thing.

That makes sense but the unaccountability of bitcoin is part of what makes it unique. How can you short it? Is it as simple as a contract signed when you buy coins from someone and a promise to return that amount of coins in a set amount of time?

You'd need a broker who technically owns the bitcoins on paper but keeps an accounting of who is owed x number of bitcoins at any given time. If a customer wants to withdraw the bitcoins they have, then the broker would allocate some from their holdings and transfer them. This would make it possible for the broker to lend bitcoins to customers for short-selling sort of like how a stock broker lends stocks for the same purpose.