/biz/ - Business & Finance

>>13083867
which bet? the one that we'd never go below 6k?

>>13084074
Sorry, I meant this bet

https://bitcoinexchangeguide.com/tone-vays-bitcoin-bet-if-you-think-btc-is-going-below-2000-then-100-bitcoins-are-yours/

>>13083867
he looks like a fucking romulan with that haircut
somone shop his ears pointy!

>>13083867
Is this the guy that ate the $1500 gold steak with salt bae?

>>13084732
It's Tone Yays. He's made a bet, with which he admitted he doesn't have the money to cover, that BTC will go below $2K

jeez just long/short why all this attention whoring?
It's litterly why there's futures. So you can bet.

>>13084875
>>13084875
Right. Honestly I think he's long and he's just creating a hedge by using this bet. Essentially put protection for if the price drops one more time. The only way he could pay his end if he loses is if he's long BTC anyways.

>>13084900
I really hope he gets liquidated

>>13084936
He will. If you understand how options and other hedges work though, you'd realize this guy is not a bear like he proclaims to be. There is no way that someone with 100 bitcoins would offer him this bet. That would be like insuring his trade without any type of premium. He's a bullshit artist.

>>13085005
I'm trying to get into options but I can't really wrap my head around it I think some trader once told me to pick options with low Theta

>>13085012
Yeah trying to understand options isn't easy. Selling options can get you into trouble also. You gotta find an options calculator. I think they have pretty decent ones online. There are other calculations like Theta. Altogether they're called "The Greeks".

>>13083867
this faglord doesn't even actively trade bitcoin

>>13085094
Yeah I've researched a lot about options. Still not trading them though. I don't really quite get it and I know they're pretty volatile. So I'm still on the fence.

>>13085334
Yeah it's kinda tough. Wrapping your mind around it first is a must. Most people can't seem to comprehend it and give up.

>>13085266
He trades futures?!?!

>>13085345
Well so far I understand that it's a right to buy/sell at a bought price. So if I have an option with the right to sell at 3k and it goes to 2k I make a profit?

I'm not entirely sure how to play it. Holding an option basically detoriates its value because of Theta. So at this point I'm still not even sure why they exist or how you're supposed to hedge with them when they litterly become less valueable over time. Or who'd even buy it from you and why?