That's really going to hurt margin trading at Poloniex. My question is why are people still borrowing BTC to margin trade. Cutting it fine!
You are viewing a single comment's thread from:
That's really going to hurt margin trading at Poloniex. My question is why are people still borrowing BTC to margin trade. Cutting it fine!
My theory was that they borrow because they wanted to cash most of their own coins out before August 1st, so to continue trading they needed to borrow more coins.
Borrowing to margin trade is actually a really good idea now that I think about it more. BTC will probably continue to decline until August 1st. So if you borrow BTC, convert it to USD...then wait for it to decline, buy back into BTC and return it...that's a nice chunk of change.