Quote from: darkangel11 on September 11, 2018, 10:45:13 PM

Quote from: deisik on September 10, 2018, 05:36:09 AM

Personally, I don't think that naked shorting makes sense unless you have insider info. I recall when a couple years ago some dude lost something like 600 bitcoins (when the price was still below $1000). He obviously expected that it wouldn't go above that mark and would soon correct, but it didn't happen and the price went exponential well beyond 1000 as we all now know. And in the end this hapless trader had his position forcefully liquidated by the exchange.

Idiot was bearish in a bull market. We were in a bull market since well below 500 USD and he didn't notice. Many people got screwed by trying to be bullish in this bear market that we're seeing right now. Trading against the trend is one the most common mistakes.
That said, my opinion is: fuck shorts, true bitcoiners go long. We need this bear market to finally end.
I've heard stories of a guy from my town who lost all his money and money borrowed from his family by trying to short with high leverage. Shorting is gambling, you're paying the house a large chunk of your money for the potential chance of a quick gain.

It is not like just shorting is gambling, it is all trading which is gambling unless you truly know what you are doing. And not just think you do but actually do. For example, shorts may come in quite handy. With them you can hedge against the risk of an exchange going bust provided the exchange allows margin trading in the first place (which is kind of obvious). I don't even mention a lot of other more sophisticated strategies of spreading risks over many exchanges through shorts. But these would always be covered shorts, i.e. you don't lose much however strong the market may go against you. On the other hand, reckless naked shorts are a shortcut to a disaster as many traders learned the hard way

Just because you can short doesn't mean you should