Bitcoin Forum

Wow, I read the first couple threads on this board:
red: bearish green: bullish black: neutral. Apologies to the R/G colorblind.

• Soon...
• Poll: Bitcoincharts.com: More time intervalls?
• Doesn't belong in speculation? bitscalper anyone use this ?
• Is Fear About The Potential Impact of BIP 16/17 Suppressing Bitcoin Prices?
• The Historical Depth Blog -- updates once a day
• leverage rally is done at 6.15-6.2
• OP mentions he is selling. WTF?

Seriously, where did all the bulls that were so omnipresent a while back go? I don't consider myself a permabull, but I'm still starting to feel alone here. Here's a chart to make you all feel better:

lol i'm a bull!

when we saw 2.5 jump to 3.5ish i said: "we are seeing the start of a never ending bull run" and i stand by that statement.

when bitcoin is worth 1800/oz ops i mean /btc i will be saying "we will see 2000$ by then end of the year"

 :D happy trading

There are always alarmist threads in speculation...  This isn't new; this is business as usual.

This is the worst subforum to get trading advice  :D

Don't be upset at the pessimism. It is probably a sign that we are actually going up.

This....

...means that everyone is optimistic. That is not the reason everyone is pessimistic.

All it means is that some at Bitcoinica are overly optimistic

This also signifies bitcoinicas position...  and a raping we will go..

No, it just means more people are holding their margins in BTC over USD.

I think something in the back of the minds of anyone who is here for profit (either BTC or Fiat), is the fact that a few different people could decimate this market in nearly an instant. Who knows?  Maybe they're just waiting hoping for the $2 BTC again.

Exactly... 

boom, spike down.

Thanks, Bitcoinica.  Only perfect indicator there is :)

Not quite the effect you guys where looking for though. That wasn't even a squeeze, and it's retraced back to 5.95.

Ya, just enough to liquidate a bunch of people..  ya.. nothing wrong with that..

lol the irony of the op

I fucking love that starfish.

This is why I sold my position down to a manageable base price yesterday during that spike up.  *yawn* bring on the real rollercoaster.

Now Mr. Moneybags has show off his E-Peen!  :D

look look its the 10,000 btc bid  wall that got sold into at 5.20

it is now an ask wall at 5.95. 13% in a few days not half bad  ;)

WOW! That whole 10K wall at 5.95 was bought up in one purchase. This person was also putting bids below it that you could see because every time one was sold it would decrease the wall by the same amount. I am wondering if they thought they would have time to pull it. This was a major market force down so I think we are ready to ramp up.

Nope.  The only indicator that matters says go short.

http://i42.tinypic.com/63t193.png

The hourly EMA 18 crossed under the 7 also, a la Goombo's Journal.  Yeah, it's totally time to go short.

Ahhh the Goombo Soup wont steer you wrong....

you're very wrong. binary indicators are worthless, and your spamming the forums with this kind of post means that the market is likely already corrected for it.

This particular binary indicator is apparently worth quite a lot and is working as well as it ever has.  Nobody has the guts to fight against the starfish.  Until somebody takes a huge risk with a lot of money the starfish is going to rule bitcoin trading land.

EXACTLY!

except, they are already testing the boundries as we speak..

i wonder what price would cause Zhoutonganization, my guess is most long positions where taken b4 the spike up and so a long squeeze wouldn't be so disastrous

personally..to zhoutong me you need to get at least under 4.4

recently i want to trade a little less leveraged

Good play... Mine's at 4.70.  Still somewhat scary exciting though.

this. all it takes is one big fish to swim buy and take all the single-indicator-following lemmings' money.

is their a price it has to reach b4 you can get 10X your money?

or can you at anytime decides to sell / cancel order? bitcoinia just gives you 10 times more to trade with?

i know I'm a little late in the game.. i really should go put in a few bitcoin and try out it for myself, just so i know exactly what you guys mean...

but if i put 1btc in their and go 10:1 and loss... do i owe 10btc? if so can't i just make another account?

 ::) not that i would do that ... but could i  :D

... ignore my stupid questions, ill go try it out for myself this weekend

6 percent margin call(loss) on 10 to 1..

96 percent margin call (loss) on 1 to 1 trading...


So.. on 1 coin, leveraged to 10

Your liquidated at 6 percent loss bitcoinica says..

you have to account on maintainance charges into that..plus if your all bitcoin and the price drops, your also losing value of your attainable leverage..  so that compounds the effect..  will liquidate sooner..

i c... so if i go short 10:1 at 5.91 .. if the price goes up to about 6.0282  (5.91 + (0.02* 5.91)) i get  zhoutounged.
but if the price goes down 10% i can  choose to wait for lower lows or take my bitcoin profits now?

If you deposit 1 BTC, and switch to 10:1, your tradeable balance would be 10BTC. If you went "all in", you would be liquidated before you end up owing too much. You may lose everything though.
When you close your position, you make the profit on 10BTC instead of 1. Not turning 1BTC into 10 withdrawl-able BTC

Ya, your always making the difference as profit on the "pretend" 10 coins your borrowing...

So going short, and price is 10 cents lower on ten shorted coins closing your position will earn you  1 dollar USD, I also edited the percents...  bitcoiinica has a margin call, and a liquidate percent

The percents are on the Account Settings menu once you sign up

oh ok, that makes sense its just the profit i end up with when i choose to close... so Z is lending me money to trade with, the money is his the profits are mine, but if my call gets to risky i lose everything.

ill have to give it a try at 2.5:1, for fun.

if i sent it bitcoins i can only short?

right ok cool, thanks


sounds like its hard to win  :P

I know with USD you can do either. Not sure if it works the same way with BTC.

its not hard.. bet against the starfish for short periods..

Watch for peaks, dont trade much, if your 2.5 to 1, just trade on that using 2-1 levys..  keeps some breathing room

the spreads go very wide on movements, do a trade when the spread is close..  anything around 5 cents or less is a very close spread, the norm is roughly 10-12 cents.

The spread is bitcoinicas profit built in.. so you have to go through the spread before you see profits

Good to have USD in bitcoinca, less risk of liquidation due to btc price dropping shrinking your overall worth

Also try not to use the "instant" market sell buy buttons, if you make an advanced placement, and mark it a cent or 2 in favor of your trade, it will usually execute on a better price if you can wait.

ok good advice will, will keep that in mind

my first move will be to wait for a good shorting opportunity... say 50$ or so  ;)  jk..

I've also noticed, dont be greedy, be happy with any profit, there will be lots of time to trade, baby steps..

Closing in the green and not waiting for it to go a ridiculous amount more profit is usually the smarter move..

in a nutshell, grab what little profit you can when you can and be sastisfied, and start again..

ya ... i learnt that lesson yesterday... i should have taken my 10$ profit at 6$.. now the best bid on virtex is 5.7 :(

mind you 5.7 would mean 4$ 1.65$ profit, but i know they are worth more then that MTGox says they are!  LOL i love bitcoin

I had a smoke and i thought, bitcoina is bull shit, Z is saying he will lend me money if i play by his rules, F that I have money, i dont need his....

Its safer if you dont over extend yourself.  

I also messed up on virtex yesterday, an impulse sell on a false signal, and a stupid rebuy higher as the signal didnt come to fruition..

So lost a small amount, a coin or less..

Do yourself a favour and look at the 30 day MACD, you'll see that its bound to swing up eventually, so keep that in mind mid term..

Theres as ebb and flow to the market, weekends usually bring on the slow decline because of the banks being closed, and wednesdays the cash comes in from your typical deposit from the banks, and we have a nice upswing, have saw this now 5 weeks in a row, since I started watching..

ops made a mistake, only 1.65$ profit at 5.7

I'm starting to lose my cool...  :-\ ...SELL SELL SELL!  ;)

More you watch it the more youll trade too..  dont over analyze..over trade..

Going short on bitcoinica with a coin or two, try that for the weekend.. and close sun night, mon morn..

If you get liquidated, Ill chip in half cause your a canuck.. ;)

after seeing that big buy, i was thinking the up would come sooner rather then later...
OH 5.93.. 5.94799 here it comes! ;D

Its risky right now, but if you can grab short as close to 5.90 on bitcoinica, and ride it down a bit past the spread till your in the green a bit is decent plan..


Edit, VERY risky, shit is all over the place right now.. but the weekend decline usually happens..

ya, i dont see it going low enough to make this worth while, ill just have to wait a few days to short

the weekend thing is intermittent, some weekends people are ready and willing, and i think if anything excessive lows due to people not having money at the right time only leads to recods highs once they do the their money in :P

I would go long in a few days.. fyi, shorting is for weekends.. :D

Also your right, it wont go very low...

ya good plan, me I'm going to try and sell about half, iv been sitting on my trades for about 7 days, buy@5.8 5.6 5.2

so it appears to make sense for me to hedge

I wish virtex had more volume, but at times there is massive arbitrage ops...

But a little more volume would be nice..

ya, it makes pushing coins harder

http://2.bp.blogspot.com/-s4If-TlgUko/TYd-r4QZwxI/AAAAAAAAD8c/h5PmmwhO0YI/s1600/d-canada-us-population-by-approximate-us-race-ethnicity-category-200-bar.png

that's part of the problem.

you would think Canada would have more % of different ethnicity, since our government treats migrants much better then US

Do you still think that this 'indicator' is worthless and market already corrected for it? It doesn't seem so :D

03:01:29 > Current trend: -0.08000 USD, Volume:20975.5031 BTC

i woke up to the noise of a growling bear.

fits and starts. still nowhere near the $5.00 lows we saw before the beginning of the Great Bitcoin Comeback. don't be so easily discouraged. this is one small drop after days of steady growth.

Go starfish go!  Reliable as ever.  Thanks bitcoinica.

This is not "one small drop". We're on a downtrend since 20th January, and have three consecutive days of going down. I'd say there are quite a few reasons for pessimism - especially for people who longed/bought ;).