It’s already been discussed for like pages. In my roughly 50 vol shorts since starting this years ago I’ve never had a single loss, 100% wins/draws. You just hold until VXX goes down. It requires financial strength and lots of risk modeling. If you want to nitpick, technically it would be “you only lose when you buy, while at a loss”, which I would never do.
the pain trade is alive
https://www.bloomberg.com/view/articles/2017-05-31/the-pain-trade-is-alive-and-well