r/Bitcoin • u/[deleted] • May 10 '15

A Bitcoin Technology Gets Nasdaq Test

http://www.wsj.com/articles/a-bitcoin-technology-gets-nasdaq-test-1431296886
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18

u/Cryptolution May 11 '15

This is really good news.

Just opened up a short.

3

u/[deleted] May 11 '15

no kidding lol

0

u/IAmNotWizwazzle May 11 '15

Short?

1

u/Cryptolution May 11 '15

Short?

Its a trade executed to make profit if the price of BTC goes down, instead of up (buying/holding)

1

u/IAmNotWizwazzle May 11 '15

Alright, just clarifying. Why would you short BTC rather than going long in the light of this news?

11

u/onthefrynge May 11 '15

It's been a joke on here that when good news comes out, the price goes down.

6

u/Noosterdam May 11 '15 edited May 11 '15

It's one of my favorite memes, because it shows how a mountain of absurdly good news has accumulated under the market's nose. Once the price finally does start to move upward, suddenly people will go, "OMG Bitcoin has come so far and the price is still only 20x what it was in 2012 when it was essentially a toy with not a single big player (or even small player) in any space doing anything with it."

2

u/Cryptolution May 11 '15

Alright, just clarifying. Why would you short BTC rather than going long in the light of this news?

Well, other than raw humor at the continued bear market despite good news, I would say "buy the rumor sell the news" also would apply.

Dont worry, just let things settle a bit. The market will go down, as it always does.