Title: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Jonathan Ryan Owens on October 19, 2011, 08:43:47 PM I can't be the only person 100% short on Bitcoinica, chanting BURN BURN BURN while watching MtGox Live, and taking sick satisfaction in watching every single attempt to prop the price met with a sell off.
Don't get me wrong, Bitcoin Is anyone else hungry? Smores, anyone? We're missing an ingredient or two.. http://whatscookingamerica.net/Cookie/Smores/Smores.jpg Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: ineededausername on October 19, 2011, 08:48:01 PM Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: dayfall on October 19, 2011, 09:20:29 PM Sorry I didn't bring any food; I am just here to watch the fire.
Ooo, it just went up 10%. Time to sell, brb. Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: bitcon on October 19, 2011, 09:27:13 PM i'll be there with my extinguisher full of gasoline.
Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Vandroiy on October 19, 2011, 11:29:48 PM I love the show.
Playing as well, of course. :) Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: paraipan on October 20, 2011, 12:07:42 AM Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Minsc on October 20, 2011, 12:09:27 AM Right now at $2, there's a $90,000 buywall. What happens if the rich guy or two cancels it???? Freefall.....?
Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: OgNasty on October 20, 2011, 12:23:22 AM I can't be the only person 100% short on Bitcoinica, chanting BURN BURN BURN while watching MtGox Live, and taking sick satisfaction in watching every single attempt to prop the price met with a sell off. I'm sure you aren't. The question you should be asking yourself is, "What is going to happen when everyone who is short has to buy shares to cover?" My guess is most of the kids shorting BTC have absolutely no idea what they're doing and are going to lose everything as soon as one blip triggers their margin calls. As an experienced trader, I can tell you that it's fun to watch a stock you short keep dropping... However, it's 100x as fun to watch the shorts make a mad dash to buy shares to cover their shorts once the price starts rising. Anyone who has ever been involved in a short squeeze wouldn't dare be shorting BTC at a price this low. You're about 2 months too late. My guess is you were a bagholder on the way down, and are about to lose the rest of your investment on the way up. But please, keep adding to your short positions daily. Soon you'll be adding something else to your shorts... If this thread isn't screaming bullishness to the contrarian investor, nothing is. Anyone know how many bitcoins are short on Bitcoinica right now? I'm hoping it's about 7,000,000. ;D Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Vandroiy on October 20, 2011, 01:02:39 AM "Everybody who is short"... I don't think that's a whole lot of people.
There might be similar guys in the game though, those who sell everything and intend to buy back. If too many of those accumulate, things might also get interesting (or just fun to watch). Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: evoorhees on October 20, 2011, 01:50:59 AM Soon you'll be adding something else to your shorts... That was pretty funny =) Yeah we'll see what happens when people realize bubbles can occur in two directions... Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: ineededausername on October 20, 2011, 01:53:24 AM Soon you'll be adding something else to your shorts... That was pretty funny =) Yeah we'll see what happens when people realize bubbles can occur in two directions... Bitcoin is a sound idea in the long run but that doesn't mean it has to start rallying at this exact moment. How do you know that it won't go down to $1.5 or $1 or $0.5 before rallying? Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: OgNasty on October 20, 2011, 02:22:28 AM Bitcoin is a sound idea in the long run but that doesn't mean it has to start rallying at this exact moment. How do you know that it won't go down to $1.5 or $1 or $0.5 before rallying? It could fall to $0.02. I just hope we see a massive short squeeze at some point. It would be fun to watch. Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Jonathan Ryan Owens on October 20, 2011, 11:25:26 AM Bitcoin is a sound idea in the long run but that doesn't mean it has to start rallying at this exact moment. How do you know that it won't go down to $1.5 or $1 or $0.5 before rallying? It could fall to $0.02. I just hope we see a massive short squeeze at some point. It would be fun to watch. I could also just be connecting the dots incorrectly.. Then again.. -Jonathan Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Vandroiy on October 20, 2011, 02:49:16 PM @Jonathan:
Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Jonathan Ryan Owens on October 20, 2011, 09:36:47 PM @Jonathan:
@Vandroiy
Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: old_engineer on October 21, 2011, 01:10:11 AM I don't think very many are short, either. This unscientific poll says 2 out of 50 voters are short:
https://bitcointalk.org/index.php?topic=49171.0 I'm sure there are attempts at manipulation going on, but I think this is a good think. The market is very new, and I think there's some sound thinking behind propping up the market, at least for a little while. If bitcoin prices can manage to stay in the $2-$3 range for a month, I think a price floor will be established. Stability will increase confidence, and could bring in the cash needed to stabilize the market long-term. I don't think bitcoin needs more users, it just needs to reassure the users it already has that they won't lose all their money overnight. Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: OgNasty on October 22, 2011, 04:41:11 PM I can't be the only person 100% short on Bitcoinica, chanting BURN BURN BURN while watching MtGox Live, and taking sick satisfaction in watching every single attempt to prop the price met with a sell off. Looking back in a few weeks, this could be the post that signaled the bottom... Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: GoWest on October 22, 2011, 04:43:58 PM I can't be the only person 100% short on Bitcoinica, chanting BURN BURN BURN while watching MtGox Live, and taking sick satisfaction in watching every single attempt to prop the price met with a sell off. Looking back in a few weeks, this could be the post that signaled the bottom... Not only this post, but the fact that the media came out in droves, and the activity on Twitter jumped exponentially. There was not a bull to be found. It was The Day Bitcoin was Declared Dead. (http://bitcoin-trader.blogspot.com/2011/10/day-bitcoin-was-declared-dead.html) Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: ineededausername on November 14, 2011, 11:11:31 PM Time to revive this thread ;D
Title: Re: Rome Is Burning! I Brought Marshmallows! We Need: Chocolate & Graham Crackers.. Post by: Jonathan Ryan Owens on November 14, 2011, 11:13:45 PM Smores anyone? BURN! $1.5 here we come!
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