So About My Prediction Last Year That Bitcoin at $16,000 Was Ripe for a Crash (opens in new tab)

(chrisyeh.blogspot.com)

5 pointschrisyeh7y ago3 comments

3 comments

This kind of gloating is lame, because it's the same sort of empty words that the Bitcoin bulls of last year were spouting off. If you really wanted to bet $10K that the price of Bitcoin would be less in a year, you would've shorted $10K worth of Bitcoin on one of the many exchanges that allowed it last December, and you'd be up about $50K today. Similarly, if you want to bet $10K today that it'll be higher in 2019, just go buy $10K worth of Bitcoin. If you're ultra confident do it on margin, and then "not having $10K to bet" is no impediment.

chadAnon697y ago

yeah, if bulls had been correct and there was a paradigm shift and Bitcoin soared to 100k this guy would have simply kept quiet about his prediction.

If he was truly confident in it he would have taken out a loan and put it on a binary option for bitcoin to be below X price 1 year later, or as you said gotten a broker account and shorted with 100x margin

simonblack7y ago

Bitcoin (and all the rest) have no intrinsic worth, being merely a series of numbers.

True wealth does not rely on having 'notional' value, but on reality. Thus a rentable property is "real" estate. A ton of iron ore, a ton of titanium, and similar things have "real" value.

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