Just opened a short position on BCH, breakout of symmetric triangle to the downside. Would like to have seen a uptick in volume for confirmation so may have jumped the gun slightly but its only a small position to start off with. Interested to hear your guys thoughts.
Just Shorted BCH
Lucas Cruz
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Cameron Ross
Which exchange?
Samuel Sullivan
youre going to get wrecked playing with fire like that
Tyler Campbell
Shorting crypto ends well most of the time, right?
Slow and steady wins the race
Ryder Cook
Bitfinex
Levi Roberts
I think it's a pretty stupid idea. It's a pretty damn solid coin, you seriously risk getting squeezed.
Daniel Wright
I shorted at 569 pounds on coinfloor and it's gone down to 523 now
Isaiah Jackson
Depends on how long he's planning on keeping his position open.
Easton Hall
lmao enjoy your Tether bubble
Ryder Martinez
holy fuck you know they gox gox'd last year and aren't solvent, right? and have been manipulating prices with fake tether to recover losses? when word got around about the fake tether they stopped allowing american customers lol
Christian Richardson
>shorting
>coinfloor
Fucking normies thinking they Veeky Forumsnessmen now
Selling =/= shorting you faggot
Nathaniel Morris
What platform would you recommend using instead?
Bentley Sullivan
>tfw to intelligent to know the meaning of the word
Christian Morris
Get out of Coinfloor, user, it's a scam. Sure, Coinbase isn't good, and as Brit, I'd rather use a UK company, but these guys are a fucking joke. Move your shit from them when you're able to.
Leo Cruz
Meant for this guy....
Blake Long
Do you have any evidence to support it being a scam? I'll at least admit its got a pretty interface.
Ethan Foster
Pretty SHIT interface rather.
Matthew Morales
Only using them for the occasional swing trade. Obviously not storing, I'm too libertarian for that shit.
Using them for nearly a year now without issues, what's your story?
Jacob Watson
Aaaaah, goddamn phone posting!!!!
THIS....
WAS MEANT FOR YOU.
Get off that sack of shit Coinfloor, for your own good, user.
Christopher Adams
G-good luck, user (you'll need it)
Aaron Anderson
What's the issue? I don't store my bitcoins on there long term...
Ryan Murphy
OP is engaging in a more advanced trading tactic than the standard Veeky Forums method. Instead of buying high, selling low, he's selling low, then buying high.
Grats OP you got a great entry point! Be sure to post a lot of funny wojacks when your position gets liquidated!
Isaiah Jones
>shorting the coin that's now over 150% more profitable to mine than bitcoin
Adam Rivera
Nice TA bro
Nathan Rodriguez
...
Daniel Anderson
...
Ethan Johnson
You are going to end up like guys who shorted ethereum after it pumped to $50 and then corrected to $40
James Ross
>friday the low for BCC was about ~.14
>yesterday the low for BCC about ~.16
>today the low for BCC is about ~.176
SELL SELL SELL NO UPWARD TREND HERE BOYS
Michael Miller
Increased mining would lead to lower prices for Bcash, since there are now about 3x as many coins being created as they spam the empty blocks at 7% difficulty.
Isaac Rivera
Cashlets can't think that far in the future. They believe that since it's more profitable for miners it should be profitable for traders too.
Ryder Myers
Hmm so my thoughts are that if the breakout was in fact just noise, ill exit (and possibly reverse) my position at a loss if the move reverses breaks out to the upside of the triangle, after seeing some decent volume. I'm still pretty confident that we are going to see a downward move though, I'm really waiting to see some decent volume for confirmation. If that happens, I might increase my position.
Samuel Thompson
>Increased mining would lead to lower prices for Bcash,
12.5BCC * 2048 (entire difficulty adjustment period) = 25 600 BCC = $18M
Not a concern.
Camden Butler
you're right, but it still matters because BCH has fast difficulty adjustment, something that BTC doesn't have.
so miners will jump to BCH when it's profitable and jump back often, as the difficulty adjusts quickly.
but any significant hashpower lost by BTC will have immense consequences to block times because the difficulty won't be able to adjust down in time, so miners jumping ship could send BTC to the grave.
also, as the final nail in the coffin, BCC mining is controlled by the chinese cartel, so they won't be dumping that 3x amount of coins into the open market like you say they most generously will, they will hold them and until BTC falls.
Cooper Wood
>because BCH has fast difficulty adjustment
No, BCH has fast _emergency_ adjustment. It's activated when there are less than 6 blocks in 12 hours.
Other than that, it's exactly like BTC.
Levi Turner
They both adjust after 2048 blocks, and BCC mines quicker