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Title: FUCK THIS Post by: dryden on January 17, 2012, 10:34:39 PM don't remember what thread, but someone mentioned the pump'n'dumper scam where someone would sell their leverages gazillion coins to cause all the long positions on bitcoinica to default. Well....... it just happened.
Title: Re: FUCK THIS Post by: GeniuSxBoY on January 17, 2012, 10:37:27 PM lol this is awesome. bitcoinica wins the internet. he stole all your shit and left
Title: Re: FUCK THIS Post by: Technomage on January 17, 2012, 10:38:14 PM This is indeed what's happening. I'm glad that I wasn't long on Bitcoinica.
Title: Re: FUCK THIS Post by: ineededausername on January 17, 2012, 10:38:18 PM lol this is awesome. bitcoinica wins the internet. he stole all your shit and left hahahaha Bitcoinica probably has an asterisk now.. let me check :P Title: Re: FUCK THIS Post by: Vandroiy on January 17, 2012, 10:38:37 PM I was warning you people all the damn time for about two weeks. It's a simple sell, Bitcoinica was too heavily leveraged and the order book was too thin!
Seriously, I feel no pity for people who go all-in on heavy leverage. This was completely insane. Title: Re: FUCK THIS Post by: Electricbees on January 17, 2012, 10:39:22 PM I'm surprised to see this... Just watched the price fall almost $2.00 in less than a minute...
And Mt.Goxlive is down... Title: Re: FUCK THIS Post by: notme on January 17, 2012, 10:39:41 PM lol this is awesome. bitcoinica wins the internet. he stole all your shit and left hahahaha Bitcoinica probably has an asterisk now.. let me check :P Asterisk is on sell now... Whoever did this was leveraged, I say we squeeze back hard. Title: Re: FUCK THIS Post by: proudhon on January 17, 2012, 10:42:39 PM God, this project has had to overcome hacks and insecurity and now we've got to overcome Z's ridiculous service.
Title: Re: FUCK THIS Post by: ineededausername on January 17, 2012, 10:43:15 PM God, this project has had to overcome hacks and insecurity and now we've got to overcome Z's ridiculous service. haha +1 Title: Re: FUCK THIS Post by: the joint on January 17, 2012, 10:43:35 PM Anybody having fun? You wanted media attention, you got it!
Title: Re: FUCK THIS Post by: neptop on January 17, 2012, 10:44:07 PM Could have been predicted after the recent uptrend.
Well, nice time for day (or faster) traders. Title: Re: FUCK THIS Post by: Technomage on January 17, 2012, 10:44:57 PM I was warning you people all the damn time for about two weeks. It's a simple sell, Bitcoinica was too heavily leveraged and the order book was too thin! I agree. I've never used Bitcoinica and I have no plans to do so in the future either. I'm long the traditional way and still very comfortable. It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. :)Seriously, I feel no pity for people who go all-in on heavy leverage. This was completely insane. Title: Re: FUCK THIS Post by: teek on January 17, 2012, 10:46:43 PM I got zhoutonged again.. Thought I was jonny on the spot closing my short position at around 5.30 and going long, that shit went craaaaaaaaaazzzzzzzzy I thought I was good with the dollar profit. Good thing I was only playing with peanuts :D
Title: Re: FUCK THIS Post by: SlaveInDebt on January 17, 2012, 10:47:23 PM God, this project has had to overcome hacks and insecurity and now we've got to overcome Z's ridiculous service. +2 was thinking this earlier today at 6.55 Title: Re: FUCK THIS Post by: notme on January 17, 2012, 10:48:32 PM Now double asterisk... Bitcoinica is having trouble connecting to mtgox.
Title: Re: FUCK THIS Post by: piramida on January 17, 2012, 10:49:10 PM It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. :) I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. The problem with leverage on BTC is that we get uncontrolled spikes, as if we didn't have enough panicers selling when the price fluctuated already :) I'm not saying it is bad for economy - no, it's all well, price returns to the original point quickly, and it's very easy to make money on that unjustified swings. Title: Re: FUCK THIS Post by: Serge on January 17, 2012, 10:50:55 PM It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. :) I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. *thumb_up* Title: Re: FUCK THIS Post by: StewartJ on January 17, 2012, 10:51:11 PM It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. :) I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. Already back up to $5.80 now. Could this of been the last BTC buying opportunity of a lifetime? Title: Re: FUCK THIS Post by: Technomage on January 17, 2012, 10:51:23 PM I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. Indeed. I see this as a much needed learning process. This will teach people to be more careful.Title: Re: FUCK THIS Post by: StewartJ on January 17, 2012, 10:54:10 PM I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. Indeed. I see this as a much needed learning process. This will teach people to be more careful.All the care in the world is not going to stop someone from flinging a huge sell or buy and send the market in an instant $2.00 spike. Title: Re: FUCK THIS Post by: RyNinDaCleM on January 17, 2012, 10:54:15 PM I'm pissed since I have had a buy order "in queue" for ten minutes already! >:( >:( >:(
Edit: About 12 minutes to change to "active". Thanks Gox!!! ::) Title: Re: FUCK THIS Post by: simonk83 on January 17, 2012, 10:55:22 PM Bitcoinica's a massive pain in the arse. I'd much rather it didn't exist.
Title: Re: FUCK THIS Post by: SlaveInDebt on January 17, 2012, 10:56:21 PM And we are back :D
I love Bitcoin so much :) Title: Re: FUCK THIS Post by: piramida on January 17, 2012, 10:56:27 PM All the care in the world is not going to stop someone from flinging a huge sell or buy and send the market in an instant $2.00 spike. Yeah right but unless you play with borrowed money, you should be only grateful when that happens - it's just a good opportunity to buy or sell at the artificial level. Title: Re: FUCK THIS Post by: StewartJ on January 17, 2012, 10:56:31 PM It's interesting to see where we are after the dust settles, which could take a while. There is going to be high volumes this week. :) I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. *thumb_up* +1 Title: Re: FUCK THIS Post by: SkRRJyTC on January 17, 2012, 10:56:36 PM Lets all remember to be pissed of at MtGox for their terrible API/sockets too!
Title: Re: FUCK THIS Post by: cypherdoc on January 17, 2012, 10:58:00 PM LOL!
$1.30 spread on Bitcoinica? Title: Re: FUCK THIS Post by: proudhon on January 17, 2012, 10:58:46 PM Lets all remember to be pissed of at MtGox for their terrible API/sockets too! One is clearly more devious than the other. Title: Re: FUCK THIS Post by: Savior on January 17, 2012, 10:59:15 PM Lets all remember to be pissed of at MtGox for their terrible API/sockets too! Yes!! I hate just having to guess the price, and not see the trade go thru for like 5 minutes, still made alot of bitcoin tonight thought, full in bitcoin now. Title: Re: FUCK THIS Post by: StewartJ on January 17, 2012, 10:59:37 PM All the care in the world is not going to stop someone from flinging a huge sell or buy and send the market in an instant $2.00 spike. Yeah right but unless you play with borrowed money, you should be only grateful when that happens - it's just a good opportunity to buy or sell at the artificial level. Never borrow money, do it the old fashioned way here. Averse to margin and Bitcoinica style of trading. Title: Re: FUCK THIS Post by: tripper22 on January 17, 2012, 10:59:48 PM The price action is fucking crazy!
Title: Re: FUCK THIS Post by: arepo on January 17, 2012, 11:00:38 PM I'm pissed since I have had a buy order "in queue" for ten minutes already! >:( >:( >:( Edit: About 12 minutes to change to "active". Thanks Gox!!! ::) +1,000,000 me too. mtgox is a ridiculously shitty service for the money they're taking from me Title: Re: FUCK THIS Post by: dryden on January 17, 2012, 11:00:47 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think?
Title: Re: FUCK THIS Post by: teflone on January 17, 2012, 11:02:19 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? How is tripping the liquidate levels for tons of people Bad for Zhou ? Title: Re: FUCK THIS Post by: StewartJ on January 17, 2012, 11:02:26 PM The price action is fucking crazy! It's $5.50, then $6.19, then $5.05...spike city! Title: Re: FUCK THIS Post by: Serge on January 17, 2012, 11:02:53 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? everything at once +heavy whale manipulator Title: Re: FUCK THIS Post by: piramida on January 17, 2012, 11:03:30 PM Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? Looks like somebody did sell through 6.20 support and most recent longs at 1:10 ratio were started from around that level. So Z did what he needed to once the price broke 6.2 - sold all the poor soul's leveraged BTCs to cover losses, and that sparkled a chain reaction. Title: Re: FUCK THIS Post by: tripper22 on January 17, 2012, 11:03:54 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? How will we ever know for sure? The one thing that is certain is that people are getting hurt and this makes bitcoin look bad (again). Title: Re: FUCK THIS Post by: teflone on January 17, 2012, 11:06:10 PM Everyone is in denial...
Zhoutounged!!!!!!!!!!!!!!!! Title: Re: FUCK THIS Post by: proudhon on January 17, 2012, 11:06:26 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? How will we ever know for sure? The one thing that is certain is that people are getting hurt and this makes bitcoin look bad (again). And here we are back to the criticism I've been leveling since June 2011. Title: Re: FUCK THIS Post by: StewartJ on January 17, 2012, 11:11:29 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? How will we ever know for sure? The one thing that is certain is that people are getting hurt and this makes bitcoin look bad (again). This is part of the deal, doesn't matter whether its stocks, gold, or BTC... part of the game. This crash shows how precarious all markets are to manipulation. Doesn't make BTC look bad in particular. Title: Re: FUCK THIS Post by: cloon on January 17, 2012, 11:12:33 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? I think a lot of people bought a lot of bitcoins far cheaper than low price of this dump. I personally would not sell in that fashion, I would let the price bounce off my tiny asks for weeks on end. Apparently this person did not care to make the most of it, or there is a way to make more money by dumping large amounts of Bitcoins at once. and this was only possible, because other people were loosing this money i gained... (2digits ind BTC) - thats how it works, doesn't it? Title: Re: FUCK THIS Post by: Cluster2k on January 17, 2012, 11:17:08 PM I did mention having so many people sure the only way is up and leveraged on Bitcoinica was dangerous. But I didn't think we'd see such crazy action.
Title: Re: FUCK THIS Post by: Hunterbunter on January 17, 2012, 11:20:37 PM I guess we would quickly return to 6+, but with healthier situation now that the leveraged kamikazes are all cleared out. Indeed. I see this as a much needed learning process. This will teach people to be more careful.Only the current batch...more will follow :) I learnt my lesson some time in the past about the evils of leverage, even against all warnings and sense. Title: Re: FUCK THIS Post by: Vandroiy on January 17, 2012, 11:20:56 PM the only thing I did was making profit^^ and this was only possible, because other people were loosing this money i gained... (2digits ind BTC) - thats how it works, doesn't it? What, you triggered the flash crash? That'd be one awesome thing in one's personal record, having triggered a flash crash! ;D Title: Re: FUCK THIS Post by: tripper22 on January 17, 2012, 11:22:25 PM so... Zhou sold a gigantic stash of BTC on MtGox... in huge lumps. It was leveraged at 120,000 ASK-BTC, vs. 28,000 BID-BTC, for a couple hours. Then I would see 128k, jump to 60k, and think "phew", and then in the next 30-sec reload it'd be back over 100k again, so someone or some program was literally just shovelling on another 30k, and cackling demonically, right? Would it even make sense for Z to do this? Financially? Or are there old miners left hoarding their 400,000 BTC stashes? Or was it a coordinated panic? What d'you guys think? How will we ever know for sure? The one thing that is certain is that people are getting hurt and this makes bitcoin look bad (again). And here we are back to the criticism I've been leveling since June 2011. I think the fundamentals for bitcoin are great. The bitcoin market just doesn't have enough liquidity to keep the price somewhat stable. But what can anyone expect from something so new and revolutionary? With great risk comes the potential for great reward. ;) Title: Re: FUCK THIS Post by: SgtSpike on January 17, 2012, 11:27:00 PM Well, you can bet on me having some bids a dollar or two below the "averaging" price from here on out, solely due to this action we just saw! I don't want to miss out on those kind of market movements again!
And if more people join in the same line of thinking as me, then we'll self-stabilize against these sorts of price swings in the future. Title: Re: FUCK THIS Post by: sgbett on January 17, 2012, 11:29:52 PM This is no flash crash. The price is not recovering and the asks are filling in.
Title: Re: FUCK THIS Post by: Serge on January 17, 2012, 11:32:05 PM This is no flash crash. The price is not recovering and the asks are filling in. i think mtgox will be backlogged with pending orders for a while. will see when it becomes responsive again. i say we will be back in 6-7 range Title: Re: FUCK THIS Post by: dryden on January 18, 2012, 12:10:12 AM Everyone is in denial... +1Zhoutounged!!!!!!!!!!!!!!!! I have been Jonesed. Now I have been Zhoutonged. Title: Re: FUCK THIS Post by: chsados on January 18, 2012, 12:14:27 AM Well, you can bet on me having some bids a dollar or two below the "averaging" price from here on out, solely due to this action we just saw! I don't want to miss out on those kind of market movements again! And if more people join in the same line of thinking as me, then we'll self-stabilize against these sorts of price swings in the future. yea this is exactly what i did and screwed me! but a low order at 6.1 when it was at 6.45ish thinking id be "lucky" to catch at that price... :( Title: Re: FUCK THIS Post by: Vandroiy on January 18, 2012, 12:18:40 AM This is no flash crash. The price is not recovering and the asks are filling in. Hm, does a flash crash have to recover? I dunno. It just has to go down real fast IMO, at least that's what I meant. Of course, there was heavy friction in these leverage liquidations feeding bots, daytraders, Bitcoinica, and finally Bitcoinica's leverage money exiting again. Price should not be likely to recover fully, at least not all too quickly. Title: Re: FUCK THIS Post by: barrymac on January 18, 2012, 12:47:30 AM This is no flash crash. The price is not recovering and the asks are filling in. Hm, does a flash crash have to recover? I dunno. It just has to go down real fast IMO, at least that's what I meant. Of course, there was heavy friction in these leverage liquidations feeding bots, daytraders, Bitcoinica, and finally Bitcoinica's leverage money exiting again. Price should not be likely to recover fully, at least not all too quickly. Snap! Same here, had some "pessimistic" limit orders to buy big at about 6.5 but the crash was so deep that they made the situation far far worse and even they got forcibly liquidated. my balance went from thousands to minus thousands. The system wasn't even able to liquidate fast enough. Title: Re: FUCK THIS Post by: Hunterbunter on January 18, 2012, 12:49:42 AM This is no flash crash. The price is not recovering and the asks are filling in. Hm, does a flash crash have to recover? I dunno. It just has to go down real fast IMO, at least that's what I meant. Of course, there was heavy friction in these leverage liquidations feeding bots, daytraders, Bitcoinica, and finally Bitcoinica's leverage money exiting again. Price should not be likely to recover fully, at least not all too quickly. Snap! Same here, had some "pessimistic" limit orders to buy big at about 6.5 but the crash was so deep that they made the situation far far worse and even they got forcibly liquidated. my balance went from thousands to minus thousands. The system wasn't even able to liquidate fast enough. Interestingly...what's to stop you or anyone else just walking away from the debt? All bitcoinica has is an email address, no? or do I misunderstand it? Title: Re: FUCK THIS Post by: barrymac on January 18, 2012, 01:18:41 AM Well yes, you could probably walk away from it. But compared to the amount that was positive the negative balance isn't that bad in the end.
I never was a gambling man. Hilarious really how I got so wound in by the long trend but got so amazingly zapped by the lure or margin trading. Deserved, learned, I'm trying to laugh I really am Title: Re: FUCK THIS Post by: Mark Oates on January 18, 2012, 01:24:31 AM Hey, merchants! Bitcoin is a great new reliable currency! :D No need to worry about the feds artificially fluctuating the price! :D
Try it today! Title: Re: FUCK THIS Post by: bitcoinBull on January 18, 2012, 01:25:09 AM Interestingly...what's to stop you or anyone else just walking away from the debt? All bitcoinica has is an email address, no? or do I misunderstand it? You don't walk away from debt, you walk away from your deposit. Title: Re: FUCK THIS Post by: barrymac on January 18, 2012, 01:28:57 AM Hey, merchants! Bitcoin is a great new reliable currency! :D No need to worry about the feds artificially fluctuating the price! :D Try it today! I'd like to see an estimate of how much that would actually cost. I don't think it would be that much in the grand scheme of things. Title: Re: FUCK THIS Post by: Hunterbunter on January 18, 2012, 01:37:43 AM Interestingly...what's to stop you or anyone else just walking away from the debt? All bitcoinica has is an email address, no? or do I misunderstand it? You don't walk away from debt, you walk away from your deposit. ok, but if you're minus...thousands and been forced to liquidate, hasn't your deposit already gone? Title: Re: FUCK THIS Post by: bitcoinBull on January 18, 2012, 01:58:35 AM Interestingly...what's to stop you or anyone else just walking away from the debt? All bitcoinica has is an email address, no? or do I misunderstand it? You don't walk away from debt, you walk away from your deposit. ok, but if you're minus...thousands and been forced to liquidate, hasn't your deposit already gone? Right. When you reach minus (your deposit), you're force liquidated. Title: Re: FUCK THIS Post by: dryden on January 18, 2012, 02:06:15 AM someone's at it again. probably that meelba guy with his new found winnings. I watched Ask vol go from 100,000 to 40k now where I literally saw (on MtGox) 218 Btc bids at one flash. That's when I knew someone was pressin down for a 2nd time. :/
Title: Re: FUCK THIS Post by: proudhon on January 18, 2012, 02:12:35 AM someone's at it again. probably that meelba guy with his new found winnings. I watched Ask vol go from 100,000 to 40k now where I literally saw (on MtGox) 218 Btc bids at one flash. That's when I knew someone was pressin down for a 2nd time. :/ Yep, asks are piling up higher than ever. Title: Re: FUCK THIS Post by: Hunterbunter on January 18, 2012, 02:13:42 AM Interestingly...what's to stop you or anyone else just walking away from the debt? All bitcoinica has is an email address, no? or do I misunderstand it? You don't walk away from debt, you walk away from your deposit. ok, but if you're minus...thousands and been forced to liquidate, hasn't your deposit already gone? Right. When you reach minus (your deposit), you're force liquidated. Ok, and if you've been liquidated, and in minus, is there a way to get your deposit back if you wait? If not...then there's only the debt to walk away from? Title: Re: FUCK THIS Post by: SlaveInDebt on January 18, 2012, 02:14:14 AM someone's at it again. probably that meelba guy with his new found winnings. I watched Ask vol go from 100,000 to 40k now where I literally saw (on MtGox) 218 Btc bids at one flash. That's when I knew someone was pressin down for a 2nd time. :/ Yep, asks are piling up higher than ever. Time to change avy? Title: Re: FUCK THIS Post by: GeniuSxBoY on January 18, 2012, 02:17:12 AM I can't believe the enormous about of sell orders, $560,000 worth, on the board till $7.50.
It was upto $700,000 before the dump Title: Re: FUCK THIS Post by: SlaveInDebt on January 18, 2012, 02:19:45 AM I can't believe the enormous about of sell orders, $560,000 worth, on the board till $7.50. It was upto $700,000 before the dump http://i42.tinypic.com/2dl6wix.jpg Ahh memories ;) Title: Re: FUCK THIS Post by: bitcoinBull on January 18, 2012, 02:21:16 AM Ok, and if you've been liquidated, and in minus, is there a way to get your deposit back if you wait? If not...then there's only the debt to walk away from? If you're liquidated, you never get your deposit back, you lost it all. If you only go minus say -50% your deposit, you can wait and if the market goes back up your position can change to profitable. If not, you can only walk away from losses. Its not "debt" because you never borrowed money. Its loss on your deposit. Title: Re: FUCK THIS Post by: jojo69 on January 18, 2012, 02:22:03 AM yeah, this thing could still break down with a vengeance...or not
Title: Re: FUCK THIS Post by: Serge on January 18, 2012, 02:25:02 AM yeah, this thing could still break down with a vengeance...or not only to go back up again Title: Re: FUCK THIS Post by: Hunterbunter on January 18, 2012, 02:28:30 AM Ok, and if you've been liquidated, and in minus, is there a way to get your deposit back if you wait? If not...then there's only the debt to walk away from? If you're liquidated, you never get your deposit back, you lost it all. If you only go minus say -50% your deposit, you can wait and if the market goes back up your position can change to profitable. If not, you can only walk away from losses. Its not "debt" because you never borrowed money. Its loss on your deposit. Hmm...thanks for trying to explain, but I must be missing something. So if I deposit $1000, at a 10:1 rate, I "buy" $10,000 worth of bitcoins @ $10 each, and the price tanks by $1, meaing my account is worth $0 even. If force liquidation happens when say price tanks by $2, you're owning $1000. In the real world, I thought all margin was borrowing money from the broker, and it has to be paid back regardless...in this case, it seems you don't. You still lose your deposit, yes, but you lose it anyway if the price has tanked and you're forced to sell. Is it possible to be forced to sell (not sure how bitcoinica works in this regard) while your deposit has not been completely burned through? Ahh memories ;) That's amazing. Title: Re: FUCK THIS Post by: bittenbob on January 18, 2012, 02:30:28 AM Im really unsure of where we are headed on this one so I am sitting on the sidelines right now. About 70% in cash and 30% in BTC. If we spike below 5 again I will grab up all the coins I can..
Title: Re: FUCK THIS Post by: gewure on January 18, 2012, 02:42:42 AM reminds me of this:
http://img811.imageshack.us/img811/707/zhoutonged.png Title: Re: FUCK THIS Post by: StewartJ on January 18, 2012, 02:46:20 AM Im really unsure of where we are headed on this one so I am sitting on the sidelines right now. About 70% in cash and 30% in BTC. If we spike below 5 again I will grab up all the coins I can.. All cash here, waiting. At this price, it would seem we're right back to where we were before the massive dump/spike. But that depth chart on the bid side is a long flat wasteland with nary a wall. Title: Re: FUCK THIS Post by: teflone on January 18, 2012, 03:42:42 AM Im really unsure of where we are headed on this one so I am sitting on the sidelines right now. About 70% in cash and 30% in BTC. If we spike below 5 again I will grab up all the coins I can.. All cash here, waiting. At this price, it would seem we're right back to where we were before the massive dump/spike. But that depth chart on the bid side is a long flat wasteland with nary a wall. http://www.innvestreithotels.com/site-ih/media/innvestreit/Yellow%20canola%20flowers%20on%20the%20prairies%20in%20Saskatchewan.jpg Title: Re: FUCK THIS Post by: proudhon on January 18, 2012, 03:45:31 AM Im really unsure of where we are headed on this one so I am sitting on the sidelines right now. About 70% in cash and 30% in BTC. If we spike below 5 again I will grab up all the coins I can.. All cash here, waiting. At this price, it would seem we're right back to where we were before the massive dump/spike. But that depth chart on the bid side is a long flat wasteland with nary a wall. http://www.innvestreithotels.com/site-ih/media/innvestreit/Yellow%20canola%20flowers%20on%20the%20prairies%20in%20Saskatchewan.jpg Here's the view in the other direction. http://i43.tinypic.com/33xwppz.jpg Title: Re: FUCK THIS Post by: teflone on January 18, 2012, 03:48:47 AM Im really unsure of where we are headed on this one so I am sitting on the sidelines right now. About 70% in cash and 30% in BTC. If we spike below 5 again I will grab up all the coins I can.. All cash here, waiting. At this price, it would seem we're right back to where we were before the massive dump/spike. But that depth chart on the bid side is a long flat wasteland with nary a wall. http://www.innvestreithotels.com/site-ih/media/innvestreit/Yellow%20canola%20flowers%20on%20the%20prairies%20in%20Saskatchewan.jpg Here's the view in the other direction. http://i43.tinypic.com/33xwppz.jpg Hahahhahah, exactly! :) At least the view is nice.... Title: Re: FUCK THIS Post by: jojo69 on January 18, 2012, 03:49:26 AM those walls are meaningless
vaporwalls Title: Re: FUCK THIS Post by: teflone on January 18, 2012, 03:50:57 AM those walls are meaningless vaporwalls Ya, after the last two days, good point... Im in awe, truly... Title: Re: FUCK THIS Post by: StewartJ on January 18, 2012, 03:53:09 AM Ricolahhhh !! |
